Morning All!

It’s quiet out there today…

Castings ( Castings (LON:CGS) ) – 10-Nov-2017 – 460p – £200.7m – PER 14.4

Interim Management Report For The 6 Months To End September 2017 – Revenue up to £61.7m (£57.9m last time) with PBT of £5.91m, down from £7.08m last time. This is a little worrying “There are a number of potential risks and uncertainties which could have a material impact on the group's performance over the remaining six months of the financial year and could cause actual results to differ materially from expected and historical results”.

This company just doesn’t seem to go anywhere. It’s making about the same Revenue and Profit it was 5 years ago. The 3% yield is well covered and for with £27.2m in Cash (10%+ of Mkt Cap), it may be worth a look for those seeking income. That said, that cautionary comment in this latest report is worrying.

Volex ( Volex (LON:VLX) ) – 10-Nov-2017 – 72.5p – £65.4m – PER 11.8

Half Year Results For The 6 Months To 1 October 2017 – Revenue down 2.8%, Underlying Operating Profit up 26.8% but it’s just a confusing update. Also states it intends to move to AIM “in order to have greater flexibility to pursue growth and partnership opportunities”.

It’s got Cash, Broker forecasts are on the up and the SP is up more than 50% in 12 months. But, I really just can’t work it out, the updates are confusing and it’s moving to AIM. I have to put this in the “too hard for me” pile.

IFG ( IFG (LON:IFP) ) – 10-Nov-2017 – 167.75p – £168.7m – PER 17.6

Trading Update For The 10 Month Period To End October 2017 – An in-line update with expected improvement in financial performance next year.

This company ticks a few boxes but just not enough for me. For instance, it has Cash of £20.6m (15% of Mkt Cap), a 3% Dividend (that’s not very well covered), the Operating Margin is just OK as is the ROCE (but neither are particularly stable). On a PER of 17.6 I don’t have an interest.

Wishing you all a great weekend!

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