Morning Brief – 8-May-2019

Morning Brief Images 8-May-2019

UK Stock Market News Today – 8-May-2019

Morning all!

Cello (CLL) – 132p – £138m – PER 14.4

AGM Statement – Expects FY to be in-line.

All seems fine but would have to be on a single digit PER to get me interested.

Elegant Hotels (EHG) – 69p – £61m – PER 7

Interim Results For The 6 Months To End March 2019 – Revenue up 3%, Adjusted PBT up 5%, Adjusted EPS up 27%, remain comfortable with meeting FY expectations.

I still can’t get excited here.

Johnson Services (JSG) – 149p – £550m – PER 14.8

AGM Statement – Expects FY to be in-line.

I still reckon fair value here is sub 100p so I have no interest at this level.

Keystone Law (KEYS) – 507p – £159m – PER 36.5

Results For The 12 Months To End January 2019 – Revenue up 35.1% to £42.7m (£31.6m last time), Adjusted PBT up 56.8% to £5.1m (£3.3m last time), Adjusted EPS up from 9.4p to 13.4p, FY Dividend to be 9p (in-line with policy) – Meaning first FY results are comfortably ahead of market expectations. New year has started in-line with the Board’s expectations.

I reckoned this was fairly priced at 329p last time – Seems I was wrong and this seems impressive. Will keep an eye out for Broker updates.

Vertu Motors (VTU) – 35p – £132m – PER 6.5

Results For The 12 Months To End February 2019 – The headline is “Profit and cash generation ahead of expectations: dividend increased” with Adjusted PBT ahead of expectations at £23.7m (£28.6m last time), Revenue was up 6.7%. March and April trading in-line with profit expected to be in-line with the same period last time.

I still remain cautious myself here about the industry as a whole so I am not tempted here at present.

As always, all comment most welcome!

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