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

Tuesday, Jun 11 2019 by
13

Morning all!

CML Microsystems ( CML Microsystems (LON:CML) ) – 277p – £47m – PER 15.2

Results For The 12 Months To End March 2019 – Everything down except the Total Dividend which is the same as last year.

No more interested here today than I was yesterday.

IG Design ( IG Design (LON:IGR) ) – 604p – £473m – PER 19.1

Results For The 12 Months To End March 2019 – Revenue up 37% (from £327.5m to £448.4m), Adjusted PBT up 39% (from £21.8m to £30.3m) with EPS up 33% from 22.1p to 29.3p. The Total Dividend is up 42% from 6p to 8.5p. Note, Fully Diluted EPS down from 20.5p to 16p (mainly exceptional acquisiton costs).

I sold out here not so long ago believing 500p or so to be fair value, looks like I may have been wrong on that!

Iomart ( iomart (LON:IOM) ) – 350p – £380m – PER 16.9

Results For The 12 Months To End March 2019 – Revenue up 6% (to £103.7m), Adjusted PBT up 6%, EPS 4%. The Total Dividend is up 4%.

I still don't see any value here at present.

Motorpoint Group ( Motorpoint (LON:MOTR) ) – 211p – £201m – PER 11.2

Results For The 12 Months To End March 2019 – Revenue up 6.8% to £1,058.7m, PBT up 10% and EPS up 11.3% (18.7p), Total Dividend up from 6.6p to 7.5p.

Still tempting enough but still sector concerns keep me away – Still expecting blood on the streets in the sector before I become a buyer.

MPAC ( MPAC (LON:MPAC) ) – 162p – £33m – PER 7.4

Pension Scheme Update – Deficit reduced from £69.m to £35.2m, expects to be eliminated in 2024 instead of 2029.

This is quite interesting and will keep an eye out for Broker updates here.

Oxford Metrics ( Oxford Metrics (LON:OMG) ) – 98p – £123m – PER 21.5

Interim Results For The 6 Months To End March 2019 – Revenue up 12.6%,…

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CML Microsystems Plc designs, manufactures and markets a range of semiconductor products for use in communications and data storage industries. The Company offers semiconductor products for professional applications within the storage, wireless and wireline communications market areas. It operates in the United Kingdom, the United States, Germany, Singapore and Taiwan. The Company offers semiconductor products for storage applications, such as Industrial flash memory cards (CompactFlash, secure digital (SD) card, multi-media card); solid state drives (SSDs), embedded storage and special function cards. It offers semiconductor products for wireless applications, such as professional and industrial analogue/digital radios (voice centric); wireless data products (radio modems, pagers, telemetry and marine safety). It offers semiconductor products for wireline telecom applications, such as security alarm panels, point-of-sale, health monitors, meter reading and telephone exchange. more »

LSE Price
320p
Change
 
Mkt Cap (£m)
54.6
P/E (fwd)
n/a
Yield (fwd)
n/a

IG Design Group plc, formerly International Greetings plc, is engaged in the design, manufacture and distribution of gift packaging and greetings; stationery and creative play products, and design-led giftware. The Company's geographic segments include UK and Asia; Europe; USA, and Australia. The Company sells its products in over 150,000 stores across approximately 80 countries. It also offers a portfolio of licensed and customer bespoke products suitable for sale through multi channel distribution. The Company's products include crackers, pens and pencils, stickers, single cards and gift wrap. The Company offers its products under the brands A Star, B Stationery, Papercraft and Pepperpot. Its subsidiaries include Artwrap Pty Ltd, International Greetings UK Ltd, International Greetings USA, Inc, International Greetings Asia Ltd, The Huizhou Gift International Greetings Company Limited, Hoomark BV, Anchor International BV and Hoomark S.p.z.o.o. more »

LSE Price
584p
Change
-0.2%
Mkt Cap (£m)
459.9
P/E (fwd)
17.8
Yield (fwd)
1.9

iomart Group plc is a holding company. The Company is engaged in providing secure managed hosting and cloud services. The Company operates through two segments: Easyspace and Cloud Services. The Easyspace segment provides a range of shared hosting and domain registration services to micro, and small and medium-sized enterprises (SME) companies. The Cloud Services segment provides managed cloud computing facilities and services, through a network of owned datacenters, to the larger SME and corporate markets. The Cloud Services segment uses various routes to market and provides managed hosting services through iomart Hosting, RapidSwitch, Melbourne, iomart Cloud Services, Redstation, Backup Technology, ServerSpace and SystemsUp. Its products include CloudSure Hosting Solutions, Managed Services, Storage, Network and Control Panel. It provides Infrastructure as a Service platform and EMC Avamar Cloud Backup for LabVantage Solutions, Inc., a global laboratory informatics provider. more »

LSE Price
353.5p
Change
3.1%
Mkt Cap (£m)
373
P/E (fwd)
16.8
Yield (fwd)
2.4



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


7 Posts on this Thread show/hide all

MrContrarian 11th Jun 1 of 7
3

My morning smallcap tweet: Quiz shows it has no answers yet.

QUIZ (LON:QUIZ), Carclo (LON:CAR), Spectra Systems (LON:SPSY), Venn Life Sciences Holdings (LON:VENN)

Quiz (QUIZ) FY as guided. Passes div Trading still challenging. Debenhams' closures: "QUIZ is present in ten of the affected stores. The annual turnover from these concessions is less than £2m PA. We note that these stores are likely to be open for most if not all of FY 2020." I hold.
Carclo (CAR) operating losses at Wipac, the main operating business in the Group's LED Technologies Division, have increased, with the business continuing to incur additional costs to meet growing customer demand. Looking at reversing the clearly disastrous move into higher volume segments. This would significantly reduce the Group's cash requirements for working capital and capital expenditure. Still in refinancing talks. "An interim Chief Restructuring Officer has been appointed to assist with these discussions." Is that some consultant with a big shovel to dig them out of the mire?
Spectra Systems (SPSY) wins contract worth $3.2m over 5 years commencing April 2020
Venn Life Sciences (VENN) FY. Current trading still poor: "continuation of prior year trends with low utilisation resulting in revenue and EBITDA being behind management forecasts for the year to date. Based on the current proposals book the Directors expect there should be an increase in revenues in the coming months."

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andrea34l 11th Jun 2 of 7
5

I recently sold IG Design (LON:IGR) at 580 for a fairly modest profit. While these results in themselves are excellent, and look to be a bit above expectation, I would suggest that they would have to make a sizeable acquisition this year for it to continue. In the outlook statement they say trading shows "pleasing growth... despite the challenging market place" with no substantiating numbers - I would need numbers behind this wishy-washy statement to consider investing again. They generally wobble on any market correction....

I researched Oxford Metrics (LON:OMG) a while ago and couldn't get excited; these results don't change my view, and the price is down 5.5% at the mo. I'd say this is due to (1) the Vicon order book being below the revenue growth, and (2) increased losses, subdued revenue growth, and falling retention rate of Yotta. I also can't get the adjusted profit figure to stack up - for Vicon it is +10%, for Yotta the loss is -0.2m up from -0.1m, and yet the total adjusted profit is allegedly up 16%? I don't think they help themselves by not stating an adjusted eps figure either.... because with a stated interim eps of 0.86 they look way overvalued to my simplistic brain.

Oxford Instruments (LON:OXIG) final results are out today which the market likes, price up 4-5%. Revenue & profit are up about 12.5% while eps is up 15.3%. Trading in all segments is positive. There is a currency headwind. Cash collection is good, dividend is increased. (I hold)

I'd prefer BCA Marketplace (LON:BCA) over Motorpoint (LON:MOTR) although I probably won't buy either in the current climate.

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matylda 11th Jun 3 of 7
1

In reply to post #482771

Hi Andrea,

I tend to agree with all of what you have said there, thanks as always for you detailed analysis.

Blog: Briefed Up
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jonesj 11th Jun 4 of 7
1

Oxford Metrics (LON:OMG) have the least friendly website I have seen for quite some time.

Lots of flashing & other screen action which makes it difficult to read.  Also company reports only going back to 2016, which makes checking out the history difficult.

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Asagi 11th Jun 5 of 7

Ted Baker (LON:TED) is the story of the day for me today.

Profit warning:
http://otp.investis.com/clients/uk/ted_baker/rns/regulatory-story.aspx?cid=898&newsid=1285293

shares were trading at a low for the year and today are down another 25%. Can the company thrive again without the Founder ex-CEO?

Historic P/E 8.2 says 'probably not' which seems a bit too readily dismissive of its chances.

Asagi (no position)

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matylda 11th Jun 6 of 7

In reply to post #482841

Didn't think I would see Ted Baker (LON:TED) fall into companies in my universe - It was valued at £1.5bn just over 12 months ago!

Blog: Briefed Up
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hayashi22 12th Jun 7 of 7
2

In reply to post #482846

Maybe the staff at Ted Baker (LON:TED) were incentivised by the hugging culture and now feel neglected and disinclined to do any work?

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