I Read The News Today Oh Boy! 10-Jan-2019

Thursday, Jan 10 2019 by

Morning all!

Debenhams ( Debenhams (LON:DEB) ) – 5.65p – £69.3m – PER 7.67

Trading Update – Based on the last 6 and 18 weeks, on track to deliver FY profits in-line with expectations.

Remains on my Avoid list.

DFS Furniture ( DFS Furniture (LON:DFS) ) – 205p – £434.9m – PER 10.1

Trading Update For The 5 Months To End December 2018 – Good underlying Revenue growth of 10% in a challenging consumer environment – FY Profit expectation unchanged. CFO is leaving (seems friendly enough).

I can't get excited here at all at present.

Innovaderma ( Innovaderma (LON:IDP) ) – 94.5p – £13.7m – PER 9.55

Trading Update For The 6 Months To End December 2018 – Revenue down from £4.2m to £3.9m – Expecting great things in H2.

I did previously comment that they always seem to report decent Revenue increases but PBT and EPS fail to follow – With Revenue down, H2 weighting mentioned I am just a little wary (that's polite), it's coming off my Watchlist.

McBride ( McBride (LON:MCB) ) – 131p – £239.5m – PER 8.36

Trading Update For The 6 Months To End December 2018 – Expects FY to be in-line with Profit weighted to H2.

I don't see this as any more than reasonably priced here.

Quartix Holdings ( Quartix Holdings (LON:QTX) ) – 260p – £124.5m – PER 22.9

Trading Update For The 12 Months To End December 2018 – In-line.

I still don't get the PER of 20+ here, perhaps I continue to not see what other Buyers are seeing.

Robert Walters ( Robert Walters (LON:RWA) ) – 556p – £420.2m – PER 11.4

Trading Update For Q4 2018 (To End December 2018) – Expecting FY to be comfortably in-line with market expectations.

I see some potential for upside here but just not enough for me to get involved at this level. 

As always, all comment most welcome!

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Debenhams plc is a United Kingdom-based company, which is engaged in multi-channel business. The Company’s brand trades through approximately 240 stores in 27 countries. The Company's segments are UK and International. The UK segment consists of stores in the United Kingdom and online sales to the United Kingdom addresses. The International segment consists of international franchise stores, the Company-owned stores in Denmark and the Republic of Ireland, and online sales to addresses outside the United Kingdom. The Company's stores trade under the name of Debenhams other than the Danish stores, which operate under the Magasin du Nord banner. Its stores offer customers a range of services, including restaurants and cafes, personal shopping assistance, hairdressing and beauty treatments, nail bars and wedding or celebration gift services. Its Debenhams Direct (www.debenhams.com) offers a range of products and services for online customers. more »

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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 »

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InnovaDerma PLC is a holding company. The Company develops a range of male and female at-home and clinically proven treatments for hair loss, hair care, self-tanning and skin rejuvenation. It operates through hair and beauty division. Its products include Leimov Personal Hair Laser Starter Kit, Leimov Hair Treatment Pack, Leimov Bio Cleansing Shampoo, Leimov Thickening Conditioner, Leimov Scalp Therapy Day Treatment, Leimov Scalp Serum Night Treatment, Leimov Deep Cleansing Scalp and Body, Leimov Hair Treatment Pack for Her, Leimov Personal Hair Laser Starter Kit for Her, Leimov Vitality Shampoo, Leimov Follicle Boost Therapy, Leimov BioPlex Scalp Serum, Leimov Scalp and Body Exfoliating Spa, Leimo Instant Hair Introductory Pack, Leimo Instant Hair Regular Pack, Leimo Instant Hair Building Fiber, Skinny Tan-Ab Shader, Skinny Tan-Dermabrasion Pre-tan Primer, and Tan and Glow. It operates in the United Kingdom, the United States, Australia, New Zealand, the Philippines and South Africa. more »

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

3 Posts on this Thread show/hide all

MrContrarian 10th Jan 1 of 3

My morning smallcap tweet: DEB dodges disaster, wields turd shining cloth

Imaginatik (LON:IMTK), Indigovision (LON:IND), Debenhams (LON:DEB), Personal Group (LON:PGH), Premier Asset Management (LON:PAM), Robert Walters (LON:RWA)

Imaginatik (IMTK) conditional agreement to sell the business for $1.7m (£1.3m or 1.4p/sh) plus $0.8m contingent. So that's why it's risen in the last week.
IndigoVision Group (IND) FY trading: rev up 9%, positive trend on gross margins reported in the interim results was maintained so will make a significant reduction in its operating loss. F/C 5% rev rise.
Debenhams (DEB) Xmas trading. Some cracking BS here. Recent 6 week LFL down 3.4%. Guides FY profit in line with market expectations, supported by further identified cost savings. "We reinstated some tactical promotional activity" = we had to cut prices to shit stock. "We have worked hard to deliver the best possible outcome in very uncertain times." No you didn't. John Lewis managed LFL 4.4% better. Started refinancng talks with lenders may bring new sources of funding into the business, put any disposals on hold. Will DEB go back to Mashley on its hands and knees to beg for the loan it spurned? I'm short.
Personal Group (PGH) guides FY broadly in line with market expectations but adopts "a more conservative outlook in regard to the Let's Connect and Insurance Business in 2019. As a consequence, profitability is unlikely to grow materially from 2018."
Premier Asset Management (PAM) Q1 net inflow only £65m. "Subdued net inflows against a background of economic and political uncertainty."
Robert Walters (RWA) Q4. FY net fee income up 15%, profit expected to be comfortably in line with market expectations.

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mmarkkj777 10th Jan 2 of 3

Hi matylda,

Just wanted to say a thank you because I now read your news highlights and comments  every day as a quick overview in Conjunction with the SCVR.  Great work and pitched at a perfect level of detail for this.

Also, whilst I'm at it, a thanks too, to Mr. Contrarian for the same reasons.

When I subscribed to Stocko as a research tool, I didn't expect to get up to date, topical info in this way and its most appreciated!!

A big thumbs up!!!!



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matylda 11th Jan 3 of 3

In reply to post #434798

Well Mark, thank you for the kind words, glad it's useful and do feel free to chip in any time.


Blog: Briefed Up
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