Morning Brief – 5-Mar-2019

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Morning Brief Images 5-Mar-2019

UK Stock Market News Today – 5-Mar-2019

Morning all!

Begbies Traynor (BEG) – 60p – £67m – PER 12

Q3 Trading Update – In-line and on track to deliver FY expectations as a whole.

Looks like value here based on the Stockopedia forecasts – Just puts me off that they may just be doing well due to quite a lot of work recently. On the other hand this could actually increase if the environment continues to deterioriate.

DX Group (DX.) – 10.25p – £58.8m – PER 23.1

Interim Results For The 6 Months To End December 2018 – H1 in-line with management expectations, confident of achieving FY targets.

Looks decent enough but I would prefer to wait and see the FY, to see if there’s an actual return to profitability – I’m not quite convinced!

GetBusy (GETB) – 32.5p – £15.7m – PER n/a

Results For The 12 Months To End December 2018 – Revenue up 19% (recurring up from 86% to 87%), Loss down from -£2.11m to -£1.2m. Expecting further growth in 2019.

Still a share I remain Long in (a really stuipid purchase). Was unable to sell out here at a decent price in an illiquid market, still paying the price (as it was at a better price than today)!

Huntsworth (HNT) – 96p – £335m – PER 11.8

Preliminary Results For The 12 Months To End December 2018 – Revenue up 14% (1.4% LFL), PBT up 15% (ahead of expectations), EPS up 24% and the FY Dividend is up 15%.

I sold out here a while ago as the Interim Results seemed a little cautious. I may well revisit as these results look pretty good – Will keep an eye out for updated Broker notes.

MPAC (MPAC) – 135p – £27.2m – PER 12.1

Results For The 12 Months To End December 2018 – Revenue up 9%, Underlying PBT and EPS up 15% or so, but a Statutory Loss. Order book up 16% and group “back on track”.

There’s just not enough here to make me a Buyer again just yet, seems to be a lot of smoke and mirrors in this report.

Netcall (NET) – 30p – £43m – PER 20.5

Interim Results For The 6 Months To End December 2018 – Revenue up 6%, PBT up 49%, trading in-line (H2 weighting mentioned).

In no rush here, will wait and see how that H2 weighting looks.

Science (SAG) – 209p – £83.7m – PER 14.1

Results For The 12 Months To End December 2018 – Revenue up 19% with Statutory PBT up about 25%, the Dividend is up 5%. Outlook seems quite cautious and they seem keen on “wider scope” acquistions which may or may not have synergies with the existing business activities.

I am staying away here for now, up for sale one minute then looking to make acquisitions which may not have synergies with the existing activities. This is just too weird for me.

SimplyBiz (SBIZ) – 180.5p – £138m – PER 14

Results For The 12 Months To End December 2018 – Profits exceed expectations – Revenue up 15% with Adjusted PAT up 61.6%, Adjusted EPS up 28.2% and Net Debt of £1.6m is not Net Cash of £6.4m.

I remain Long here and these results mean I am likely to continue to do so for now.

Swallowfield (SWL) – 195p – £33.4m – PER 6.85

Interim Results For The 28 Weeks To 12th January 2019 – Doesn’t look great with FY to be broadly in-line with market expectations.

My temptation to bottom pick has lessened, I am staying away here for now.

As always, all comment most welcome!

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