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
