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.

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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