Morning Brief – 4-Oct-2017

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Morning Brief Images 4-Oct-2017

Morning All!

Adept Telecom (ADT)

AGM Statement Commenting On The 6 Months Ended September 2017 – A little strange this one as it focuses on being able to support a 13.3% increase in the interim Dividend. No mention of beingin-line though (Revenue/Profit wise). So, although the increased Dividend may be taken well, the fact “in-line” (Revenue/Profit) is not mentioned – May not be taken so well.

I quite like this company but am a little suspicious here!

Ceres Power Holdings (CWR)

Final Results For The Year Ended June 2017 – Revenue up 140% ahead of expectations. EBITDA loss£10.3m versus £11.5m LFL and the Order book is up from £1.7m to £3.2m.  This is probably good news for those believing this company can one day make a Profit.

Having never made a profit or even forecast to make one – Not yet an investment case for me.

Future (FUTR)

Full Year Trading Update For The Year Ended September 2017 – Due to strong Revenue growth this is an “ahead of expectations” update – “The three acquisitions we have made during this financial year have further strengthened and diversified our revenue streams, as we continue to build a global platform for specialist media with data at its heart”.

This additional Revenue should see the company announce its first Profit since 2013 this year – On a PER of 15.5 and up 200% in the past 12 months I wonder how much of this is already in the price!

Gooch & Housego (GHH)

Full Year Trading Update For The Year Ended September 2017 – In-line with a record year end order book of £72.2 million, up 36.7% compared with the same time last year – Excluding the impact of foreign exchange and acquisitions this is an increase of 29.2% on the starting order book last year.

Seems like a good news update and seems to justify the current PER of 25.7.

Gresham Technologies (GHT)

Trading Update – Signed 2 new clients and trading is in-line with Board expectations – Management remain confident in the full year outlook.

Nothing to excite at present.

Redhall (RHL)

Full Year Trading Update For The Year Ended September 2017 – Expecting 2017 results to be materially below expectations – But, on the plus side “the Directors expect that Group profitability for the year ending 30 September 2018 will remain in line with market expectations”.

Not sure the market will have as much faith as the Directors!

Topps Tiles (TPT)

Trading Update For The 52 Weeks Ended September 2017 – Bit of a miss here and a mild profit warning with PBT due to be “at the lower end of the current range of market expectations” – But no mention of what this is – Arggggggghhh!

Seems like this update is not going to do much for the share price this morning!

Walker Greenback (WGB)

Interim Results For The 6 Months Ended July 2017 –Revenue “up 9.9% to £54.3 million (H1 2016: £41.8 million) including £10.3 million from Clarke & Clarke, the fabrics and wallpaper business acquired in October 2016”. PBT up 55.3% to £5.9m (includes £1.1m from an insurance reimbursement), EPS up 39.4% and the interim Dividend is up 25.5%.

Based on these highlights this update looks good – However, much of the report just clouds things too much for my simple (brain) approach. I really have no idea how the market will take this so for now I have to remain on the fence – Leaving this for more educated investors.

That’s it from me this morning – Plenty for me to keep an eye on – ADT, FUTR, GHH, RHL, TPT and WGB to see how the market interprets those updates…

All input and comment, as always, welcome and appreciated…

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