Morning Brief – 4-Oct-2018

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Morning Brief Images 4-Oct-2018

UK Stock Market News Today – 4-Oct-2018

Morning all!

DFS Furniture (DFS) – 210p – £444.5m – PER 11.4

Preliminary Results For The 52 Weeks To 28th July 2018 – It’s just all a bit messy, the hot weather in Q4 taking the brunt of the blame. At least the Total Dividend is the same as last year.

I remain on the side-lines here, not attracted at all at present.

Morses Club (MCL) – 141.5p – £183.2m – PER 9.83

Interim Results For The 26 Weekes To 25th August 2018 – Switch to IFRS so a little tricky here – LFL Revenue up 11.9%, Adjusted PBT up 20.6%, Adjusted EPS up 20% or so with the Interim Dividend up 18.2%. Trading in-line, confident for FY.

Still quite like this but still can’t help but feel even more regulation might be thrown in this direction. Although this if/maybe/possibly is close to being outweighed by the growth here and the yield. Still Neutral, just.

Gooch & Housego (GHH) – 1857p – £462.7m – PER 28.8

Trading Update For The 12 Months To End September 2018 – In-line, Order book up 17% on last year

Still quite like the look of this but may perhaps be fairly priced here now, I remain Neutral.

Elegant Hotels (EHG) – 65.6p – £58.3m – PER 7.5

Trading Update For The 12 Months To End September 2018 – Not exactly upbeat and perhaps a mild profit warning (mention of no material impact (of tax changes), so some, perhaps).

I remain Neutral here.

AB Dynamics (ABDP) – 1282p – £250.6m – PER 30.5

Trading Update For The 12 Months To End August 2018 – Expects Revenue and PBT to significantly exceed market expectations.

Has doubled since it’s been on my Watchlist, it may well be time to pay up! If not, it will probably remain on my Watchlist as I watch it double again.

Redcentric (RCN) – 89p – £132.7m – PER 15.8

Trading Update For The 6 Months To End September 2018 – In-line with Net Debt down 20% or so to £22.6m.

Some attraction here but eyes on a full set of results needed – I remain Neutral for now.

As always, all comment most welcome!

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