Morning Brief – 5-Dec-2017

Morning Brief Images 5-Dec-2017

Morning All!

Gateley Holdings (GTLY) – 169.5p – £181.2m – PER 15.2

Interim Results For The 6 Months To End October 2017 – Revenue up 9.8% to £38.6m (2016: £35.2m), PBT flat at £4.2m following further investment in the business through additional staff and service lines and the Interim Dividend is also flat at 2.2p per share.

Still fails to inspire me.

Iomart (IOM) – 373p – £401.1m – PER 19.0

Interim Results For The 6 Months To End September 2017 – Revenue up 12% to £47.0m (H1 2017: £42.1m), Adjusted PBT up 9% to £11.6m (H1 2017: £10.6m). A maiden Interim Dividend of 2.25p per share has been declared.

Seems a decent company however these latest results don’t seem to justify a PER of 19 and Stockopedia seems to agree with a “Value” score of 23. The maiden interim provides more assurance here than the actuals.

Vianet (VNET) – 136p – £38m – PER 14.9

Interim Results For The 6 Months To End September 2017 – Revenue of £6.71m (H1 2017: £7.06m), PBT £0.90m (H1 2017: £1.13m), Interim dividend flat at 1.70p.

Nothing to make me any more than Neutral here.

WYG (WYG) – 38.5p – £28.5m – PER 5.84

Interim Results For The 6 Months To End September 2017 – Revenue up 3.8% to £76.2m, Loss before tax £2.8m (H1 2016: profit of £0.8m) after provision of £2.45m for legacy contract claims from discontinued businesses – So with Revenue up 3.8% why is the loss not limited to £0.8m – £2.45m (-£1.65m)? The Interim dividend is flat at 0.6p per share.

No signs here for me to be interested any time soon.

Character (CCT) – 427.5p – £89.4m – PER 10.8

Preliminary Results For The 6 Months To End August 2017 – “A solid finish to the 2017 financial year in-line with current market expectations – Even in the current tough trading conditions, we expect our cash flow to remain positive, our reserves to grow and our Christmas stocks to remain firmly under control.” Revenue and Profit down about 5% but Net Cash is up 66.9% (to £11.5m) and the Dividend for the year is up 26.7%.

Doesn’t seem too bad considering the recent Toy R Us “scare”.

Fulcrum Utility Services (FCRM) – 65p – £113.5m – PER 16.3

Interim Results For The 6 Months To End September 2017 – Revenue up 8.3% to £19.6m (2016 restated: £18.1m), PBT up 19.4% to £3.7m (2016: £3.1m) and with Cash of £14.5m (£12.5m last time) the Board is recommending an Interim Dividend of 0.7p per share (up 17%).

A decent update from a company that probably looks fairly priced around this level.

Amino Technologies (AMO) – 191.5p – £139.1m – PER 13.5

Trading Update For The 12 Months To End November 2017 – Headline is “Profit and margins in line with market expectations”.

Stockopedia likes this (StockRank 93) and it seems quite reasonable here – It’s going on my Watchlist. Quite volatile so would be wanting to consider an initial position nearer the bottom of that range, the 170p level being of interest.

That’s it from me today – Quite liking Amino Technologies…

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