Morning Brief – 7-Aug-2018

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Morning Brief Images 7-Aug-2018

UK Stock Market News Today – 7-Aug-2018

Morning all!

T Clarke (CTO) – 83.7p – £35.0m – PER 6.09

Interim Results For The 6 Months To End June 2018 – Revenues up 7%, EPS up 47%, Interim Dividend up 10% but the forward Order book is down -6%. Expects FY to be in-line with the Board’s expectations.

A lot to like here and although I don’t see the opportunity for real growth it’s tempting – Could well benefit from income seeker interest at 4%+ and well covered. On the Watchlist to research a little more.

Zotefoams (ZTF) – 554p – £267.6m – PER 27.9

Interim Results For The 6 Months To End June 2018 – Record Revenue, up +17% (CC), PBT (pre-exceptional) up 21% (EPS up 15%) with the Interim Dividend up 3.1% – Continues to trade in-line with the Board’s expectations.

(Wrongly it seems) avoided this on a PER of 19, 25.3 and now at 27.9 I still don’t see value here, I remain Neutral.

Pendragon (PDG) – 24.05p – £339.2m – PER 6.62

Interim Results For The 6 Months To End June 2018 – A little mixed but FY remains in-line.

Stills looks like a decent income play at 6%+ but the Net Debt and the industry being one I am just not interested in at the moment keeps me Neutral.

Interserve (IRV) – 72p – £107.8m – PER 4.11

Interim Results For The 6 Months To End June 2018 – Stated as being in-line with FY expectations unchanged.

I remain Neutral here however it looks like a real bargain (if the forecasts are achieved) – Note, the Net Debt is HUGE (5x current Market Cap).

As always, all comment most welcome!

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