I Read The News Today Oh Boy! 11-Apr-2019

11th Apr '19 by matylda

3 comments 1538 reads

Morning all!

Christie ( Christie (LON:CTG) ) – 97p – £25.7m – PER 7.8

Results For The 12 Months To End December 2018 – Revenue up 6.3% (from £71.6m to £76.1m), Operating Profit up 8.4%, EPS up from 9.47p to 11.23p and the Total Dividend will be 3p (2.75p last time). Looks like caution for H1, expecting a stronger H2.

These results look about in-line and I am tempted here. The caution and H2 weightiing puts me off enough to wait for revised Broker notes to come through.

EasyHotel ( easyHotel (LON:EZH) ) – 66p – £97m – PER 37.1

Trading Update For The 6 Months To End March 2019 – Revenue up 47% (LFL looks flat), despite uncertainty (mentioned 3 times), expects FY to be in-line with the Board's expectations.

Half the price it was when I first considered this expensive, it's still not "cheap" enough to tempt me.

Quiz ( QUIZ (LON:QUIZ) ) – 17.4p – £21.6m – PER 5.8

Trading Update For The 12 Months To End March 2019 – Revenue up 12%, EBITDA to be circa £4.5m.

Looks OK but just too many if's, but's and maybe's here for me.

Renold ( Renold (LON:RNO) ) – 28.5p – £64m – PER 5.4

Trading Update For The 6 Months To End March 2019 – Revenue up 5.7%, FY to be in-line.

If it wasn't for the Net Debt this would be much more attractive, at present there's just not enough to get me any more interested today that I was yesterday. The move to AIM may help.

As always, all comment most welcome!

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MrContrarian

11th Apr '19

My morning smallcap tweet:

QUIZ (LON:QUIZ), Porvair (LON:PRV), £FRC, AEW UK Long Lease REIT (LON:AEWL), Instem (LON:INS)

Quiz (QUIZ) FY trading: rev £130.9m, £1.9m above guidance in March warning. EBITDA guidance unchanged.
Porvair (PRV) trading: rev up 18% in first 4 months, flattered by the timing of a large spares order (Brexit?). Profit in line.
The Financial Reporting Council (FRC) has commenced an investigation into the audit by Grant Thornton UK LLP of the financial statements of Interserve Plc for the years ended 31 December 2015, 2016 and 2017. The investigation will be conducted under the Audit Enforcement Procedure.
AEW UK Long Lease REIT (AEWL) following strategic review, erects the For Sale sign.
Instem (INS) secondary placing of 10% of co at 290p, a 12% discount.

andrea34

There is a lacklustre in-line update from Alpha Financial Markets Consulting (LON:AFM) - "Alpha FMC has performed well in the year with both revenue and Adjusted EBITDA expected to be ahead of the last financial year and in-line with current full year market expectations".

Oxford Instruments (LON:OXIG) is looking good after this update - "trading in the second half of the year was supported by a strong order book and our normal second half seasonal bias. We expect adjusted operating profit for the full year to be around the higher end of expectations. A good cash conversion during the year has resulted in the Group achieving a positive net cash position." Analyst forecast range is usefully provided, as adjusted operating profit £46.0m to £49.2m

Chris Archer

Quiz looks like it offers excellent risk reward to me at these depressed levels. The Balance sheet strong with £12.5m cash and next to no debt. The company is increasing its online sales at a good clip and is placing a much greater emphasis in this area which is good to see.They are still profitable, cash rich and have short leases on their physical stores. If management have learned from their mistakes of this past year, they are in a good position to turn this ship around. (I don't hold this stock but plan to do further research)

I Read The News Today Oh Boy! 11-Apr-2019

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Matylda

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