Morning all!
Iomart ( £IOM ) – 360p – £390m – PER 18
Trading Update For The 6 Months To End September 2019 – H2 skew.
Sounds like a bit of a potential Profit Warning ahead so I will be avoiding for now especially as I don’t consider it great value anyway.
Next Fifteen Communications ( £NFC ) – 500p – £427m – PER 13
Interim Results For The 6 Months To End July 2019 – Revenue up 11%, Adjusted PBT up 14%, Adjusted Diluted EPS up 7%, the Interim Dividend is up 15.7%. Confident of meeting FY expectations with a return to high single digit organic growth the FY after.
I still reckon this is fairly priced around the 500p level.
Revolution Bars ( £RBG ) – 70p – £35m – PER 14
Results For The 52 Weeks To 29th June 2019 – FY in-line. £1.5m cost savings kicking in FY20, plan on schedule, Christmas bookings up 15%.
An ex-holding that I am still not tempted back into even though they now seem to be heading in the right direction.
SCS ( £SCS ) – 237p – £95m – PER 9
Results For The 52 Weeks To 27th July 2019 – Revenue up about 1%, Gross Margin solid at 45%, Underlying Operating Profit up 4.6%, with EPS up 13.1%, the Total Dividend is up 3.1% and Net Cash is at £57.7m (£48.2m). Current year a bit more challenging with LFL orders down -7.6% in the first 2 months, weather and politics blamed.
Still not enough here for me as it looks like stagnation for the next couple of years but, if that yield (7%+) is maintained, could provide a floor.
As always, all comment most welcome!
