Small Cap Report - AFN, HFG, DIA, TSCO, JD., INS, GOAL, AVS, APC, TTG

Thursday, Jan 10 2013 by
9

Shares website Advfn (AFN) issues a nice marketing statement, explaining content continues to grow in the areas of mobile, books, and newsletters. No financial details of course, as results normally show how all the hype is achieving no return for shareholders, and no growth in profits (it barely scrapes into the black at the cashflow level). Good, and useful website, but the £30m mkt cap is bonkers. Based purely on the financials, and ignoring the perpetual hype from its RNSs, I cannot see why advfn is valued at more than £5-6m. So it's a 1p share in underlying value, by my calculations. No idea why the market values it at 4.7p.

Hilton Food (LON:HFG)

Hilton Foods, a £205m mkt cap (at 290p a share) meat packing group, announces a solid trading statement for y/e 31 Dec 2012, saying they have traded in line with the Board's expectations, which one always has to assume are also the same as market expectations? But it is an ambiguity when companies talk about the Board's rather than the market's expectations. It looks a sound company, on a PER of 11 (looks about right), and a decent divi yield of 4%.

Dialight (LON:DIA)

Stellar growth is once again reported by LED lighting company Dialight. Earnings for 2012 are in line with expectations, so that means around 40p EPS, putting the shares on a PER of 25 times, at 1012. Racy stuff, but the growth justifies a high rating, if you think it's likely to continue. I don't have a view on that, so cannot value it.

Tesco (LON:TSCO) 

Tesco issues a Xmas trading statement, which is pretty solid - LFL sales up 1.8%in the UK, the best performance for 3 years. Its PER of 10.4 and 4.4% divi yield are in the same ballpark as the other Listed supermarkets, although worth bearing in mind Tesco is carrying a lot of debt on its balance sheet.
I'm not a Tesco fan. Their pricing strategy of constantly raising & lowering their prices is dishonest, and creates a feeling that they are trying to trick you into overpaying, thus alienating customers. You build a business by behaving in a way which leads your customers to trust you, not by playing a…

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ADVFN PLC is a United Kingdom-based company engaged in the development and provision of financial information, primarily through the internet, research services and the development and exploitation of ancillary internet sites. The Company operates in single operating segment: provision of financial information. The provision of financial information is made through the Company’s Website platforms. The Company’s website ADFVN.com operates a financial website which provides up-to-date financial information for investors. The Company’s 2C technology presents the data by the way of three-dimensional images. The principal trading subsidiaries of the Company are All IPO Plc., InvestorsHub.com Inc., Investor Events Ltd. and Cupid Bay Ltd. The Company’s subsidiaries operates Internet dating Website, financial information Website, initial public offer (IPO) information Website, financial information website, and organizing financial events. more »

Share Price (AIM)
34.5p
Change
 
Mkt Cap (£m)
8.8
P/E (fwd)
n/a
Yield (fwd)
n/a

Hilton Food Group plc is engaged in the specialist retail meat packing business, supplying international food retailers in around thirteen European countries and Australia. The Company operates through three segments: Western Europe, Central Europe and Central costs and other. The Western Europe operating segment covers its businesses in the United Kingdom, Ireland, Holland, Sweden and Denmark. The Company manages the meat supply chain from raw material procurement to store delivery. In Central Europe the Company's meat packing business, based at Tychy in Poland, supplies three customer groups across Central Europe, from Hungary to the Baltics. Its multi-customer business supplies to Ahold stores in Czech Republic and Slovakia; Tesco stores in Hungary, Czech Republic, Poland and Slovakia, and Rimi stores in Latvia, Lithuania and Estonia. In Australia, it is engaged in a joint venture with Woolworths, under which it operates certain Woolworths' meat processing and packing plants. more »

Share Price (Full)
505p
Change
-4.6%
Mkt Cap (£m)
369.1
P/E (fwd)
16.2
Yield (fwd)
3.1

Dialight plc designs, manufactures and sells light emitting diode (LED) lighting fixtures for use in hazardous and industrial locations. The Company's lights are for specific use on top of telephone towers, wind turbines and other tall structures, as well as traffic signals and large industrial or hazardous sites. The Company's operating segments are Lighting, Signals and Components. The Lighting segment addresses the increasing demands for energy efficient lighting solutions for industrial/hazardous locations. The Signals segment consists of the obstruction, traffic and transportation businesses. The Components segment supplies small LED indicators into the professional electronics market through a network of distributors with over 15,000 end users. The Company's key subsidiaries include Dialight Corporation, Dialight Garufo GmbH, Dialight Europe Limited, Dialight BTI A/S, Dialight Japan KK and Dialight Penang Sdn. Bhd. more »

Share Price (Full)
401.5p
Change
-3.4%
Mkt Cap (£m)
130.5
P/E (fwd)
19.9
Yield (fwd)
n/a



  Is ADVFN fundamentally strong or weak? Find out More »


1 Comment on this Article show/hide all

Elias Jones 10th Jan '13 1 of 1
1

Hi Paul,

Nice to see you covering APC this morning, the order announced today which has an initial value for the preliminary work of £2m is going to be worth a sizeable amount above this figure once the store survey is complete and the major retailer confirms the package they want. The last order was 1.5m for 34 stores and I believe the store installation work this time round has increased.

“The final order value will be confirmed once product quantities have been determined following the store surveys.”

If you are going to dig around for info I am sure the CEO Mark Robinson would be delighted to meet up with you for a chat or reply to any questions you have.

Also a good interview with CEO, Mark Robinson about the major contract win today from BRR media, Mark mentions that the turonover of APC this year will be the largest in its 30 year history.

http://www.brrmedia.co.uk/event/107642/mark-robinson-chief-executive-officer

Hopefully we can have you as an APC shareholder one day.

Elias

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About Paul Scott

Paul Scott

Paul trained as an accountant, then spent 8 years as FD for a ladieswear retail chain.He became a professional small caps investor in 2002 to date.Paul writes a small caps report for Stockopedia.com on weekday mornings. He joined Fundamental Asset Management Ltd as a research associate in 2014, as part of their Small Cap Value Portfolio team. more »

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