Morning Brief – 6-Jun-2018

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Morning Brief Images 6-Jun-2018

UK Stock Market News Today – 6-Jun-2018

Morning all!

Findel (FDL) – 243p – £210.1m – PER 8.98

Results For The 12 Months To 30th March 2018 – Revenue up 4.8% to £479.0m and Adjusted Operating Profit up 15.4% to £36.0m.

I can’t really work this one out but with Net Debt over 30% of Mkt Cap and a (I believe) Pension Deficit of £2.5m a year – I am going to go Neutral for now.

Flowtech Fluidpower (FLO) – 170.75p – £90.2m – PER 10.3

AGM Statement – First 3 months Revenue up 49.7% (as per recent Trading Update) and momentum continues into the following 2 months. All seems in-line.

I hold here and on a PER of 10 with EPS forecasts at +39.3% in 2018 and +9.06% in 2019, I will continue to do so.

Share (SHRE) – 26p – £37.3m – PER 52.7

AGM Statement – Revenues up 20%, in-line.

Still of interest but not enough so to make me a buyer at present, I remain Neutral.

Harvey Nash (HVN) – 106p – £77.9m – PER 7.64

Trading Update – Strong growth continues.

Now wishing I hadn’t waited for a pull-back circa 80p – Will revise my Watchlist price to 100p although a break-out above 106p also looks like a potential entry (so as not to miss out again perhaps!).

Amino Technologies (AMO) – 207.5p – £150.8m – PER 13.6

Trading Update For The 6 Months To End May 2018 – FY expectations remain unchanged.

This was on my Watchlist at 180p but having had a little closer look this morning I will go Neutral here now. ROCE and Operating Margin are great here but the forecast Revenue and EPS outlook just look below par.

Porvair (PRV) – 516p – £235.5m – PER 25.2

Trading Update For The 6 Months To End May 2018 – In-line.

I still don’t see it. On a PER of 25.2 I would expect more here, I remain Neutral.

MS International (MSI) – 208p – £34.8m – PER 15.2

Final Results For The 12 Months To 28th April 2018 – PBT up £4.04m (2017 – £1.53m) on Revenue of £68.09m (2017 – £53.82m), EPS of 20.5p (2017 – 9.1p) with a Final Dividend of 8.25p (8p last time).

There’s a lot to like here but with no broker coverage at all (that I can find) and the company outlook difficult to interpret it’s not easy to get involved. I will remain Neutral for now.

As always, all comment most welcome!

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