UK Stock Market News Today – 9-Mar-2018
Eurocell (ECEL) – 217p – £217.0m – PER 9.69
Preliminary Results For The 12 Months To End December 2017 – “Good progress with strategic priorities and robust financial results” – Revenue up 10% (8% excluding acquisitions) to £224.9m (£204.8m last time). PBT and EPS flat (raw material price inflation). Net Debt down from £20.3m to £14.5m. Markets remain challenging but the first 2 months are in-line with expectations.
These results just don’t inspire me.
Focusrite (TUNE) – 354.16p – £205.8m – PER 22.5
Trading Update For First Half Of The Year Ending August 2018 – Revenue for H1 expected to be over £38m, up from £32.0m LFL, a 25% increase on a constant currency basis. Net cash £19.7m, up from £14.2m on 31 August 2017 and £9.4m on 28 February 2017. “Confident for the current financial year and beyond”.
Nice update, it’s on my Watchlist at 260p but might even consider paying up here. Just a pity there was no Profit update in the latest update.
As always, all comment most welcome – Have a great day!