Morning Brief – 7-Jan-2019

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Morning Brief Images 7-Jan-2019

UK Stock Market News Today – 7-Jan-2019

Morning all!

A quick note: I renewed my Research Tree annual subscription for just £200 yesterday, the £100 discount for this must have research (for me anyway) is available until 13th January 2019 – Click here and use the Promo Code “NY2019”.

Mattioli Woods (MTW) – 660p – £174m – PER 15.2

Trading Update For The 6 Months To End November 2018 – Seems to be basically in-line.

I do quite like this and there is potential value here but I still think it’s just a little too expensive for me at present.

Churchill China (CHH) – 940p – £103m – PER 13.9

Trading Update For The 12 Months To End December 2018 – Expects operating performance to be ahead of current market estimates.

Liking this more following this update, it’s going on my Watchlist for more research, perhaps even today. Note: On a PER of 14 or so – It’s got Cash, a Brand, great ROCE, Op Margin, Double Digit growth, a well covered 2.5% Yield.

UP Global Sourcing Holdings (UPGS) – 39.5p – £32.4m – PER 6.92

Trading Update For FY 2019 – Stronger than expected Revenue growth and EBITDA to be above the market’s current expectations.

Will take this off my Avoid list now and keep an eye out for the actuals (the real profit).

MPAC (MPAC) – 109p – £22m – PER 9.73

Trading Update For The 12 Months To End December 2018 – “Sales and profit before tax are expected to be in line with market expectations (subject to year end audit), supported by a strong closing orderbook which will provide a platform for continued growth in 2019”.

After being burnt here previously I would prefer to wait and see the actuals – That’s what I will do.

Impax Asset Management (IPX) – 205.5p – £268m – PER 16.2

Q1 Assets Under Management (AUM) Update – AUM down -8% on the quarter.

Outflows to be expected in a downturn, for now I still prefer Miton (MGR).

As always, all comment most welcome!

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