I Read The News Today - 10-Aug-2017

Thursday, Aug 10 2017 by
26

Here we go again - Day 3 - Thanks again all for all comment and support, seems to be going OK so far...

DFS FurniturePost Close Trading Statement – Revenues in the 2nd half are down (4%) after being up 7% in the 1st (LFL) – Meaning 1% growth YOY and profits (EBITDA) due to be at the low end of previous guidance (£82 - £87m). Seems to be taking measures to alleviate reduced revenues – But will they be enough if things turn nasty!  Not one of much interest for me in the current environment.

Elektron Technology (EKT)Trading Update To July 2017 – Highlights seem to be, slight Revenue increase, from £15m to £15.3m (1.9%) and Net Cash of £2m vs £0.5m at the same time last year.  The share price is up 100% this year with the main difference according to this update being it now has 4x more cash it did back then. A pity there was no mention at all of profit in this update – Impossible to call eh!

North Midland Construction (NMD)Half Year Results To June 2017 – I like this company, nice growing revenues, profits and EPS, ROCE 15% and cash (increased in this update to about £8m (from about £3m)). This update seems pretty good – A 4% increase in revenue and a more than 100% increase in PBT (£1.22m vs £0.51m), EPS the same, up to 9.67p from 4.69p. And they have the confidence to increase the Interim Dividend by 100% to 3p.  Wish I had not sat on my hands here at the beginning of the year. Sitting on quite a lot of cash at the moment and quite tempted to use a little here!

St Ives (SIV)Year End Trading Update To 28 July 2017 – “The board reports that the overall results for the year are expected to be at the top end of the range of current market expectations” – This may help this beaten down “Value Trap” – It’s hard to ignore the fact the debt is almost as much as the current Mkt Cap! If this does not turn a profit this year will it be facing a fund raise or worse even?…

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DFS Furniture plc is an upholstery retailer in the United Kingdom. The Company is engaged in designing, manufacturing, selling, delivering and installing a range of sofas, and other upholstered and furniture products. The Company's segment is engaged in the retailing of upholstered furniture and related products. Its other segments comprise the manufacture and distribution of upholstered furniture. The Company offers approximately 10 unit types per range, and a range of materials with approximately 50 colors available. Its branded upholstery ranges include Capsule Collection and Grand Tour. The Company operates approximately 100 retail stores in the United Kingdom, the Republic of Ireland and the Netherlands, an online channel, and approximately three upholstery factories in the United Kingdom. The Company's subsidiaries include Diamond Holdco 2 Limited, Diamond Holdco 7 Limited, DFS Furniture Holdings plc, DFS Furniture Company Limited and Coin Retail Limited (Jersey). more »

LSE Price
251p
Change
0.2%
Mkt Cap (£m)
531.5
P/E (fwd)
11.9
Yield (fwd)
4.5

Elektron Technology plc is a holding company. The Company is engaged in designing, manufacturing and marketing products that connect, monitor and control. It operates in two segments: Connectivity, and Instrumentation, Monitoring and Control (IMC). Connectivity comprises two complementary product families: Bulgin and Arcolectric. The Company's products are helping its customers to quantify real-world environments, process this data and act on the results. Its products include sealed connectors, Switches, indicators, battery, fuseholders, ophthalmic instruments, nanopositioning and sensing equipment, and vehicle power management systems. The Company's Checkit offers a wireless solution providing work management software and automated monitoring. Its subsidiaries include Elektron Technology Corporation, Elektron Technology PTE Ltd, Elektron Technology UK Ltd and Elektron Technology (Shanghai) Trading Limited. more »

LSE Price
51p
Change
 
Mkt Cap (£m)
94.9
P/E (fwd)
16.1
Yield (fwd)
n/a

NMCN PLC, formerly North Midland Construction PLC, is a United Kingdom-based building, civil engineering, highways and utilities company. The Company's operating segments include PLC, which consists of building, civil engineering, highways, utilities and NMCNomenca divisions, and Nomenca, which consists of mechanical and electrical engineering products and services. Its building division focuses in the construction of new build and refurbishment projects across the Midlands region. Its Civil Engineering division services the power generation, power distribution, waste to energy and infrastructure works for both public and private sectors. Its Highways division focuses in the design and delivery of projects across the United Kingdom. Its NMCNomenca division delivers non-infrastructure frameworks with Severn Trent water for both civil and mechanical, electrical, instrumentation, control and automation (MEICA) projects. It operates approximately 10 regional offices and workshops. more »

LSE Price
610p
Change
0.8%
Mkt Cap (£m)
63.0
P/E (fwd)
10.6
Yield (fwd)
3.4



  Is LON:DFS fundamentally strong or weak? Find out More »


6 Posts on this Thread show/hide all

Howard Adams 10th Aug '17 1 of 6
2

Hi

I like the blog.

I think Cineworld (LON:CINE) have a nice set of results today if anyone is interested to look (I hold).

Regards
Howard

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cig 10th Aug '17 2 of 6
1

Elektron Technology (LON:EKT) share price is only going to respond as a growth stock in this market, so I find it wise they don't mention profits. It has a pretty accident prone history and while it seems to be doing much better these days (they cleared the debt and took out most loss making activities) it's too early to talk about sustained profits when they reinvest the bulk of the cash flow in new ventures. In a couple of years maybe. As a potential growth stock it's still pretty cheap.

(Long since the bargepole days.)

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bestace 10th Aug '17 4 of 6
3

In reply to post #206894

I found this statement a bit odd for several reasons:

  • there are no numbers disclosed
  • The news was released on the company website on Monday (it's currently the top news item here) and tweeted on Tuesday, so why release an RNS about it on Thursday?
  • The RNS differs from the news item on their website in two regards. Firstly the involvement of the Chinese sales partner in securing the sale has been removed from the RNS and secondly although the accompanying quote is word-for-word the same, the RNS attributes it to the CEO whereas the news item attributes it to their commercial manager.

Those first two points suggest to me the new orders are not material even though the contract is described as 'significant', and given the news yesterday that the CEO is standing down after less than a year, it feels a bit like today's RNS is an afterthought to signal to the markets that everything is all hunky-dory.

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Effortless Cool 10th Aug '17 5 of 6
1

In reply to post #206944

bestace,

You're probably correct with your conclusions. Looking again, I notice that it was a non-regulatory RNS, and therefore not material from a price sensitivity point of view (although it does seem to have fired up the share price, regardless).

I'm sorry I mentioned it now!

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bestace 10th Aug '17 6 of 6
2

In reply to post #206964

No need to be sorry, it was an interesting snippet of news and I wasn't having a go at you for posting it!

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