Morning Brief – 5-Jun-2019

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Morning Brief Images 5-Jun-2019

UK Stock Market News Today – 5-Jun-2019

Morning all!

Alpha Financial Markets Consulting (AFM) – 231p – £234m – PER 16.9

Results For The 12 Months To End March 2019 – Revenue up 15.1% (from £66m to £76m), Operating Profit up almost 50%, Adjusted EPS up 23% (from 9.8p to 12.05p), the Total Dividend is up 16.1% (6p). Acquisition also announced.

I quite like this still (but don’t think it will ever set the world on fire) – Will keep an eye out for Broker updates.

Findel (FDL) – 193p – £167m – PER 6.9

Results For The 12 Months To End March 2019 – Revenue up 5.7% (to £506.8m), PBT up 17.7%, (Core) Net Debt at £57.4m, (Overall) Net Debt at £233.4m.

Attractive without the Net Debt, with it, not so much, I remain on the side-lines.

Impax Asset Management (IPX) – 280p – £365m – PER 21.9

Interim Results For The 6 Months To End March 2019 – AUM up 6%, PBT up from £5.5m to £9.3m with Adjusted Diluted EPS down from 4.8p to 4.4p, the Interim Dividend is up from 1.1p to 1.5p.

Impressive as this seems, with outflows to be expected in a downturn, I just can’t get more interested at the moment. Confused at the EPS figures (being down).

K3 Capital (K3C) – 109p – £46m – PER 7.9

Trading Update For The Period To End May 2019 – Adjusted EBITDA to be at the upper end of market guidance, Revenue to be in-line. New Year has strong pipe-line, confident for 2020.

Might provide support for a share price down 70% or so from it’s 12 month high, but not for me until I see the actuals.

Learning Technologies (LTG) – 82p – £548m – PER 19.6

AGM Statement – Very positive YTD in 2019, confident of achieving run-rate Revenue of £200m and EBIT of £55m+ by end 2021.

I remain Long here and hope this may help the price (down 50% from 12 month highs – Should have been sold long ago for a higher profit (eye of the ball)).

PCF (PCF) – 33p – £83m – PER 9

Interim Results For The 6 Months To End March 2019 – Trading is strong (PBT up 57%, EPS up 50%) and results are in-line with market expectations.

I am Long here and hopefully this provides support for that recent decision.

As always, all comment most welcome!

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