I Read The News Today Oh Boy! 12-Jun-2018

Tuesday, Jun 12 2018 by

Morning all!

CML Microsystems ( CML Microsystems (LON:CML) ) – 515p – £87.9m – PER 20.1

Preliminary Results For The 12 Months To End March 2018 – Revenue up 14% to £31.67m (2017: £27.74m), PBT up 9% to £4.58m (2017: £4.21m), Basic EPS up 6% to 24.52p (2017: 23.09p), FY Dividend will be 7.8p (2017: 7.4p). Confident the company is in good shape to deliver long term sustainable growth.

On a PER of 20 I just don’t see the value here at present, I’m Neutral.

Iomart ( iomart (LON:IOM) ) – 395p – £427.2m – PER 19.1

Final Results For The 12 Months To End March 2018 – Revenue up 9% to £97.7m (2017: £89.6m), Adjusted PBT up 7% to £24.0m (2017: £22.4m), Adjusted Diluted EPS up 6% to 17.96p (2017: 16.99p), FY Dividend to be 7.18p, 20% up from last year (6.00p). Looking forward with confidence.

The ROCE and Operating Margin are pretty good but there’s not enough elsewhere to get me more interested (although the CEO is delighted with “another year of excellent results”), I’m Neutral for now.

Motorpoint ( Motorpoint (LON:MOTR) ) – 261p – £260.9m – PER 13.7

Final Results For The 12 Months To End March 2018 – Revenue up 20.6% from £822.0m to £991.2m, PBT up 70.9% to £20.0m (FY17: £11.7m) with Adjusted Basic EPS up 32.3% to 16.8p (FY17: 12.7p), the FY Dividend will be 6.6p (FY17: 4.2p) an increase of 57.1%.

There’s quite a lot to like here but enough not to like too. For me, for example, the sector (uncertainty), the Net Debt (it’s quite large), the Operating Margin (it’s very thin) – I remain Neutral.

Park ( Park (LON:PKG) ) – 80.75p – £149.8m – PER 13.9

Preliminary Results For The 12 Months To End March 2018 – Mostly small increases all round here, seems in-line.

I am going to remain Neutral – These results for a gift vouchers and prepaid gift card company just don’t get me excited at all.

Trifast ( Trifast (LON:TRI) ) – 272p – £330.2m – PER 19.3

Preliminary Results…

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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 »

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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 »

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K3 Capital Group Plc, along with its trading subsidiaries, Knightsbridge, KBS Corporate and KBS Corporate Finance, are a group of business and company sales specialists across business transfer, business brokerage and corporate finance, serving owners across the United Kingdom in the small cap marketplace. The services provided by the Company include the presentation of their clients' businesses for sale to market, the sourcing of potential acquirers and project management of transactions to completion. more »

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

2 Posts on this Thread show/hide all

MrContrarian 12th Jun '18 1 of 2

My morning smallcap tweet: FastForward reverse.

FastForward Innovations (LON:FFWD), £K3C, Cyanconnode Holdings (LON:CYAN)

FastForward (FFWD) previously said it was in negotiations to sell its entire holding Leap Gaming. FFWD is 'pleased to announce' that it's done the opposite! It's invested €1m. This "reflects rapidly changing market conditions and the ability of the directors of FastForward to react quickly and decisively to maximise shareholder value." It's like trying to sell your car, getting derisory interest and repairing it instead.
K3 Capital Group (K3C) FY trading "comfortably in line with market expectations." Also "KBS Capital Markets has received regulatory approval from the FCA...enables the Group to broaden its services by providing deal execution for clients wishing to sell down minority stakes in addition to its current offering."
CyanConnode (CYAN) Pre-AGM Update. That's a new one. Further cost reductions of £500k pa, effective immediately "in response to shareholder feedback" after recent pisspoor results.

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andrea34l 12th Jun '18 2 of 2

I agree on Trifast (LON:TRI) as I don't see how a company that can only manage single digit rises in everything can possibly be on PER of 20ish.

There's a trading update from Boohoo.Com (LON:BOO) today, and while guidance seems unchanged I personally feel that revenue growth of 12% in the original boohoo brand is slowing.

For me, Warpaint £W7L is too early on the market for me to invest. I don't like pro-forma figures... but as they are all I have, the eps growth in the last results looked mediocre. The stockrank figures aren't marvellous either, especially the Momentum score.

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