Morning all!
Eddie Stobart Logistics ( Eddie Stobart Logistics (LON:ESL) ) – 125p – £447.4m – PER 10.5
Results For The 12 Months To End November 2017 – In-line (Revenue up 9.4%, PBT down -12%), new year started well and in-line with the Board’s expectations.
I can’t get excited here, the yield may be attractive to those seeking income.
M P Evans ( M P Evans (LON:MPE) ) – 744p – £407.8m – PER 22.1
Results For The 12 Months To End December 2017 – The highlight is the Operating Profit up 72% to US$34m. The FY Dividend is up 18% to 17.75p (27.75p if you also include the Special Dividend from April last year). Outlook remains positive.
There was a takeover bid here just over a year ago, at 640p it was rejected. That seems to have been the right course of action, now trading at 744p. I like a few things here (like the Net Cash and Operating Margin) but there’s also a few things I don’t like (the poor ROCE for example and the fact Revenues and Profits just seem erratic). I’m Neutral for now.
Robert Walters ( Robert Walters (LON:RWA) ) – 700p – £527.1m – PER 15.3
Trading Update For The 6 Months To End March 2018 – Strong start with Net Fee Income up 17% (13% without FX), £88.5m. Net Cash up to £34.0m (from £13.3m) and current trading is in-line.
This is one that was on my Watchlist at 580p and another one where I missed the boat waiting for a pull-back. Bigger than my usual £500m Market Cap so will remove it from the Watchlist for now. Currently revising my Entry criteria due to missing a few too many boats including this one.
Mission Marketing ( Mission Marketing (LON:TMMG) ) – 46p – £38.7m – PER 5.90
Results For The 12 Months To End December 2017 – Revenue up 6% to £70.0m (2016: £65.9m), PBT up 10% to £7.7m (2016: £7.0m), Diluted EPS up by 11% to 7.12p (2016: 6.41p), FY Dividend up by 13% to 1.7p (2016: 1.5p).…
