I Read The News Today Oh Boy! 10-Aug-2018

Friday, Aug 10 2018 by

Morning all!

Volution ( Volution (LON:FAN) ) – 199.5p – £403.7m – PER 12.8

Trading Update For The 6 Months To End July 2018 – Revenue up 11.3%, 4 acquisitions completed, FY in-line.

Just had a look at the latest broker note on Research Tree here and see that actual and forecast annual Revenue and EPS growth through to 2020 is below 10% each year. On a yield of 2% or so I guess this will remain range bound until something out of the ordinary happens. I am Neutral until I see evidence of that.

IEnergizer ( iEnergizer (LON:IBPO) ) – 55p – £104.5m – PER 4.96

I was expecting an AGM here today but didn’t find any announcement – But, as I had made some notes I decided to include them anyway.

ROCE and Operating Margin are both around the 20% mark here. Revenue growth is a steady 5% a year with annual EPS Growth is 30.5% (2018A), 16.4% (2019E) and 4.5% (2020E). Debt now seems to be reasonable and looks OK here except for the spread which is often 15%+. Against my will, I keep this on my Avoid list - I just find it so difficult to open a position when the spread is more than a few percent, more than 5% is tough, but 10%+ really puts me off – And we’re talking, most of the time, 15%+ here.

Filta Group ( Filta Group (LON:FLTA) ) – 229p – £57.0m – PER 24.1

Trading Update For The 6 Months To End June 2018 – H1 Revenue and Profit in-line with management expectations – Confident for H2 to and beyond.

I hold here and although this is a reasonable update it does sound rather cautious – I remain long but will, as always, keep an eye on market reaction here.

As always, all comment most welcome!

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Volution Group plc is a United Kingdom-based company, which is a supplier of ventilation products to the residential and commercial construction markets in the United Kingdom and northern Europe. The Company is principally engaged in designing, manufacturing and distribution of unitary and systems ventilation products and equipment. It is also engaged in the designing, manufacturing and distribution of a range of motors and components for use in air movement applications and gas boilers. It operates in two business segments: Ventilation Group and Original Equipment Manufacturer (OEM (Torin-Sifan). The Ventilation Group segment consists of 15 brands, focused primarily on the United Kingdom, the Nordic, Central European and Australasian ventilation markets. The Torin-Sifan segment is a supplier of motors, motorized impellers, fans and blowers for the European heating, ventilation and air conditioning (HVAC) industry. The Company offers Revive, which is a bathroom and kitchen fan. more »

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iEnergizer Limited (iEnergizer) is an integrated software and service company. The Company provides content transformation services and business process outsourcing services. Its segments include Real time processing, Back office services, Content delivery and Others. The Company provides services across the entire customer lifecycle and offers a suite of content and publishing process outsourcing solutions (Content Services) and customer management services (Back Office Services and Real Time Processing) that include transaction processing, customer acquisition, customer care, technical support, billing and collections, dispute handling, and market research and analytics using various platforms, including voice-inbound and outbound, back-office support, online chat, mail room and other business support services. Its content and publishing services provide end-to-end solutions for information providers and all businesses involved in content production. more »

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Filta Group Holdings plc is a provider of various services to national and independent commercial kitchen operators and owners. The Company's principle service is FiltaFry, which is the micro-filtration of cooking oil, the vacuum-based cleaning of deep fryers and full Fryer Management. Its business operations are within the United Kingdom and the United States. The United States operations are operated as a franchise network, while the United Kingdom activities are operated under both franchise and direct sale business models. In addition to FiltaFry, Franchise Owners offer other fryer management services provided and managed by it, including waste cooking oil collection and removal (FiltaBio) and the supply of cooking oil (FiltaGold) and non-fryer related kitchen services, including the provision and servicing of moisture absorption panels for refrigeration units (FiltaCool). Its drain-related services include live bacteria drain dosing. The Company has over 180 Franchise Owners. more »

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

1 Post on this Thread show/hide all

MrContrarian 10th Aug '18 1 of 1

My morning smallcap tweet:


ProPhotonix (PPIX) warns H1 rev up only 4%, margin down to 39% (44%) and adjusted EBITDA $0.2m ($0.7m). Blames $0.5m delayed shipments, decrease in sales from one large customer (already RNSd) and a "competitive market environment, revenue mix and higher component costs". So many things going wrong! Guides FY adjusted EBITDA $1.25m-$1.5m and net income of break-even.
GBGI (GBGI) Guides FY gross written premium and underlying net income "broadly in line with initial expectations". But CEO Bob Dubrish (anagram: rubbish BoD) boasts "We have a strong start to the third quarter and we are confident in our business model and that we are making good progress on our 2018 initiatives."

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