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!

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