Morning Brief – 6-Sep-2018

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Morning Brief Images 6-Sep-2018

UK Stock Market News Today – 6-Sep-2018

Morning all!

Avation (AVAP) – 227.5p – £142.8m – PER 10.2

Final Results For The 12 Months To End June 2018 – Revenue up 16% to $109.1m, PBT down 5.9% to $20.0m, EPS down 11% to 32.2c, the Dividend is up 21% YoY.

I remain Neutral here having sold out in May this year based on quite poor EPS forecasts (I believe these seem worse than those forecasts but don’t have time or the need to double check).

McBride (MCB) – 130.4p – £238.1m – PER 8.92

Final Results For The 12 Months To End June 2018 – Looks like a slight miss but as expected after the previous update.

Nevertheless, this remains on my Avoid list for now – I await to see some positive news.

Solid State (SOLI) – 308p – £26.2m – PER 12.0

AGM Statement – Positive start, confident for the FY.

I still can’t see this being any more than fairly priced here – The decent yield of 4% or so is well covered.

MPAC (MPAC) – 119p – £24.0m – PER 12.8

Interim Results For The 6 Months To End June 2018 – Statutory loss before tax of £0.6m (2017: £0.2m).  Basic loss per share of 3.9p (2017: earnings of 4.3p).

Hard to trust here again especially after broker forecasts 2 months old were blown out of the water not long back. I can’t be anything more than Neutral at present.

As always, all comment most welcome!

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