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

Thursday, Oct 10 2019 by
12

Morning all!

Castleton Technology ( £CTP ) – 93p – £76m – PER 13

Trading Update For The 6 Months To End September 2019 – H1 below expectations, lower than last year, H2 to show a material improvement but, not enough to meet current market expectations.

I will not be investing here any time soon, at least not before seeing FY actuals.

Discoverie ( £DSCV ) – 406p – £328m – PER 14

Interim Results For The 6 Months To End September 2019 – Good against strong comparators, on track for to deliver FY underlying earnings in-line.

I still fail to see enough value here at present.

Morses Club ( £MCL ) – 115p – £150m – PER 9

Interim Results For The 27 Weeks To End August 2019 – Adjusted PBT and EPS down circa -10%, Interim Dividend 2.6p (2.6p), trading in-line with directors expectations.

Still a potential for the yield but not enough for me.

N Brown ( £BWNG ) – 100p – £285m – PER 4

Interim Results For The 6 Months To End August 2019 – Revenue down -5.4%, Adjusted PBT up 3.9% and EPS up 6%, Net Debt up from £420.5m to £481.6m.

Even though it looks cheap, the HUGE Net Debt is still enough to keep me from getting involved here.

Onthemarket ( £OTMP ) – 83p – £53m – PER n/a

Interim Results For The 6 Months To End July 2019 – Revenue up 8%, Losses higher, Cash down from £15.7m to £8.8m, web and mobile visits up by 75%, trading in-line with previous guidance.

I remain uninterested here but of course, keen to see how they progress, here’s to seeing the FY actuals.

As always, all comment most welcome!

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N Brown Group plc is a digital specialist fit fashion retailer. The Company offers customers a range of products in clothing, footwear and home wares. The Company is a multichannel retailer. It operates through the Home Shopping segment. Its power brands include JD Williams, Simply Be and Jacamo. JD Williams is a department store concept offering style for 50-plus customers and their families. Simply Be is a women's clothing retailer, which offers a fashion collection regardless of the size. Jacamo offers in-house ranges, such as Label J and Black Label, alongside international brands. Its brands also include Ambrose Wilson, Julipa, Premier Man, House of Bath, Marisota, Fashion World, High and Mighty, and Figleaves. It offers financial services that focus on credit customer base and cash customers. It offers womenswear from sizes ranging from 10 to 32 and menswear from sizes ranging from small to 5XL. It operates a store estate in the United Kingdom that focuses on key shopping areas. more »

LSE Price
115.3p
Change
4.8%
Mkt Cap (£m)
313.7
P/E (fwd)
4.7
Yield (fwd)
6.6

Castleton Technology plc, formerly Redstone PLC, is an investment holding company. The Company is engaged in providing software and managed services to the public and not-for-profit sectors, mainly the social housing sector. Its segments include Managed Services, which consists of Castleton Managed Services Limited and Keylogic Limited, and Software Solutions, which consists of the results of Castleton Software Solutions Limited, Kypera Limited and Kypera Pty. It offers KYPERA FINANCIALS, a finance solution, which uses a single ledger format; EDRM, which is an electronic document and records management system that allows organization to manage its documents and supporting information; P2P, which manages repairs and non-repairs processes and integrates finance and repairs system; AGILE, OPUS SERVICE CHARGES and MANAGED SERVICES. Its subsidiaries include Castleton Technology Intermediate Holding Company Limited, Castleton Group Holdings Limited and Castleton Information Group Limited. more »

LSE Price
56.6p
Change
-0.7%
Mkt Cap (£m)
46.6
P/E (fwd)
9.5
Yield (fwd)
2.0

discoverIE Group PLC, formerly ACAL PLC, designs, manufactures and supplies components for electronic applications. The Company operates through two divisions: Custom Supply and Design & Manufacturing. The Custom Supply division provides technically demanding customized electronic, photonic and medical products to the industrial, medical and healthcare markets, both from a range of international suppliers and from the Company's Design & Manufacturing division. The Design & Manufacturing division manufactures custom electronic products that are designed or modified from a standard product for a specific customer requirement. The products are manufactured at the Company's in-house manufacturing facilities or by third party contractors. Its technology areas include communications & sensors, power & magnetics, electromechanical & cabling, microsystems, and imaging & photonics. more »

LSE Price
430p
Change
2.4%
Mkt Cap (£m)
338.8
P/E (fwd)
14.2
Yield (fwd)
2.5



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


2 Posts on this Thread show/hide all

MrContrarian Thu 7:49am 1 of 2
3

My morning smallcap tweet: IQE buys out worthless JV

Castleton Technology (LON:CTP), John Lewis of Hungerford (LON:JLH), Velocys (LON:VLS), IQE (LON:IQE), Low & Bonar (LON:LWB)

Castleton Technology (CTP) guides H1 behind expectations mainly due to product and professional services. Warns on FY.
John Lewis Of Hungerford (JLH) guides FY loss ~£230k after H2 better than expected. However order book is only £1.6m (£1.9m). Hopeless.
Velocys (VLS) Bayou Fuels project set to produce negative emission fuels - will capture and bury CO2 from waste biomass fuel generator. Will get US Govt payments for sequestration.
IQE (IQE) buys out partners at CSDC joint venture in Singapore for $2. So it's worthless then? Will hit FY19 adj op profit by £0.5m.
Low & Bonar (LWB) gets Nov covenant tests waived pending takeover. If takeover fails they will be re-instated.

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andrea34l Thu 9:29am 2 of 2
1

Castleton Technology (LON:CTP) are another perennial disappointment - new name, same old excuses.

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