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

Monday, Jun 10 2019 by

Morning all!

In case you missed it, I posted my Monthly Recap for June here - Covering all my purchases and sales in the month of May.

I also posted my Parity PEG Price Reports for June here (free sign up required to access) - Covering 20 stocks updated in the month of May.

Onto this morning...

Accrol Group ( Accrol Group (LON:ACRL) ) – 26p – £51m – PER 7.4

Trading Update For The 12 Months To End April 2019 – Revenue flat, Adjusted LBT of -£2.5m to -£3m expected, Net Debt down from £29.6m to £27.1m (that's still a lot!).

I still reckon the Stockopedia view of "Highly Speculative" is applicable here.

Codemasters Group ( Codemasters Group (LON:CDM) ) – 255p – £357m – PER 20.4

Results For The 12 Months To End March 2019 – Revenue up 11.9% from £63.6m to £71.2m, Gross Profit up 16%, Adjusted EPS up 64.1% from 8.1p to 13.3p, Net Cash at £18.2m (Net Debt of £112.9m last time). Strong schedule of games and increased focus on digital and "Games As A Service".

Looks about in-line to me but with next years EPS growth forecast to be flat I will remain on the side-lines for now.

Ideagen ( Ideagen (LON:IDEA) ) – 144p – £316m – PER 25

Acquisition Of Redland Solutions – £15.8m paid (funded from extended facility), expected to be earnings enhancing immediately.

Still too expensive for me on a PER of 25, will be keen to see how this addition affects forecasts though. 

As always, all comment most welcome!

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Accrol Group Holdings plc, formerly Accrol Group Holdings Limited, is an independent tissue converter manufacturing toilet rolls, kitchen rolls, facial tissues and away from home products (AFH). Its AFH products include Centrefeeds, Hand Towels, Hygiene Rolls, Toilet Tissue, Wiping Rolls, Standard Jumbo and Mini Jumbo. Its Consumer Paper Products include Envirosoft, Facial Tissues, Handy, Mega, Mighty, Sofcell, Softy, Thirsty Bubbles and Triple Softy. The Company supplies a range of Independents, Discounters and Multiples, as well as a range of AFH customers throughout the United Kingdom. It imports Parent Reels from around the world and converts them into finished goods at its manufacturing, storage and distribution facility in Blackburn, Lancashire. The Company has 15 converting lines in operation providing capacity of approximately 118,000 tons per annum. Its subsidiaries include Accrol UK Limited, Accrol Holdings Limited and Accrol Papers Limited. more »

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Codemasters Group Holdings PLC, formerly Codemasters Group Holdings Limited, is a United Kingdom-based video game developer and publisher. Through its subsidiary, The Codemasters Software Company Limited, the Company designs, develops and produces driving and racing games. The Company’s driving and racing games include DiRT, GRID, Micro Machines, ONRUSH and Formula 1 series of videogames. It produces Formula One’s range of games for the Playstation 4 console. more »

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Ideagen plc is engaged in the development and sale of information management software to businesses in various industries, and the provision of associated professional services and support. The Company is engaged in supplying governance, risk and compliance (GRC) solutions primarily to the healthcare, transport, aerospace and defense, manufacturing and financial services sectors. The Company’s portfolio products include Q-Pulse, Coruson, Pentana Audit, Pentana Performance and PleaseReview. Q-Pulse, which provides quality and safety management. Coruson,which provides cloud-based software solution. Pentana is an auditing software within its internal audit.It has operations in the United Kingdom, European Union, the United States, Middle East and Southeast Asia. more »

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

1 Post on this Thread show/hide all

MrContrarian 10th Jun 1 of 1

My morning smallcap tweet: YOLO NAV may go low.

Yolo Leisure and Technology (LON:YOLO), HgCapital Trust (LON:HGT), Seeing Machines (LON:SEE), Dods (LON:DODS), Helical (LON:HLCL), Agronomics (LON:ANIC), Redx Pharma (LON:REDX)

YOLO Leisure & Technology (YOLO) attempts to refinance or sell TVPlayer not going well. "It is unclear at present what return may be generated for shareholders in TVPlayer in the event of a sale of its business as a going concern or any of its assets." YOLO holds 3.28%, on the books at 0.86p/sh, 13% of its NAV.
HG Capital Trust (HGT) £80m placing at nil discount.
Seeing Machines (SEE) a 'leading North American self-driving car company' buys an initial $2.2m of Guardian Backup-driver Monitoring Systems.
Dods Group (DODS) confirms press speculation re merger talks with Merit Group. Any transaction would be financed by a combination of debt and equity.
Helical (HLCL) confirms press article that it has had bid approaches. Proposals have been at a significant discount to EPRA NAV and were rejected.
Agronomics (ANIC) raising up to £4.5m at 5p, a 9% discount. Cash will be used to invest in the alternative food sector. Jim 'Mixed Fortunes' Mellon holds 29%.
Redx Pharma (REDX) H1. Still desperately seeking silver. "It is imperative that we now conclude some of these discussions."

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