I Read The News Today Oh Boy! 12-Jun-2019

Wednesday, Jun 12 2019 by
15

Morning all!

Anexo ( Anexo (LON:ANX) ) – 165p – £181m – PER 11.6

Trading Update For The 12 Months To End December 2019 – Expects PBT to be ahead of current market expectations.

Tempted here but just not sure of the business model, even the ethics of it!

Eckoh ( Eckoh (LON:ECK) ) – 44p – £112m – PER 36.2

Results For The 12 Months To End March 2019 – In-line, Revenue up 5% (83% recurring) with PBT up 7% and Diluted EPS down -31%.  There's £8.3m Net Cash (up from £3.6m) and the Total Dividend is up 11%.

On a PER of 30+ there's just not enough clarity here for me, I remain on the side-lines for now.

Elektron Technology ( Elektron Technology (LON:EKT) ) – 44p – £82m – PER 15.6

Results For The 12 Months To End January 2019 – Revenue up 13.1% (from £29.8m to £33.7m), Operating Profit up 77%, Net Cash of £10.1m (£5.2m last time).

I am Long here and there's a lot to take in here, will have to look in more details later - High level view is it seems OK. Great 2 Year upside here if existing forecasts are met.

Filta Group ( Filta Group (LON:FLTA) ) – 225p – £65m – PER 21

Results For The 12 Months To End December 2018 – Expect a stronger H2 to mean FY will be in-line with market expectations.

This looks about fairly valued here to me, especially taking into account the H2 weighting mentioned today.

Norcros ( Norcros (LON:NXR) ) – 200p – £161m – PER 6

Results For The 12 Months To End March 2019 – Revenue up 10%, Underlying PBT up 24%, EPS 7.5%, Net Debt down from £47.1m to £35m and the Dividend is up 7.7%.

Looks like value here – But, I still don't like the Net Debt (even though it's down quite a lot), the Pension Liability (£29m or so, last I looked) and the exposure to South Africa (30% or so of Revenues).

Park (

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Eckoh plc is a provider of multi-channel, integration and Payment Card Industry Data Security Standard (PCI DSS) payment solutions for contact centers. The Company's segments include Eckoh UK and Eckoh US. It offers secure payment solutions CallGuard and EckohPAY. CallGuard ensures contact centers remain secure and PCI DSS compliant by avoiding sensitive card data from being heard or seen by agents and from being stored on call recorders in network systems. EckohPAY allows consumers to make automated secure self-service payments through mobile devices, interactive voice response or Web. The Company also offers agent-assisted and self-service automation across voice, mobile and Web channels, giving users to choose how and when they make purchases or get in touch with their providers. more »

LSE Price
46p
Change
 
Mkt Cap (£m)
116.9
P/E (fwd)
29.9
Yield (fwd)
1.5

Elektron Technology plc is a holding company. The Company is engaged in designing, manufacturing and marketing products that connect, monitor and control. It operates in two segments: Connectivity, and Instrumentation, Monitoring and Control (IMC). Connectivity comprises two complementary product families: Bulgin and Arcolectric. The Company's products are helping its customers to quantify real-world environments, process this data and act on the results. Its products include sealed connectors, Switches, indicators, battery, fuseholders, ophthalmic instruments, nanopositioning and sensing equipment, and vehicle power management systems. The Company's Checkit offers a wireless solution providing work management software and automated monitoring. Its subsidiaries include Elektron Technology Corporation, Elektron Technology PTE Ltd, Elektron Technology UK Ltd and Elektron Technology (Shanghai) Trading Limited. more »

LSE Price
54p
Change
-2.2%
Mkt Cap (£m)
99.0
P/E (fwd)
16.7
Yield (fwd)
n/a



  Is LON:ANX^B16 fundamentally strong or weak? Find out More »


9 Posts on this Thread show/hide all

MrContrarian 12th Jun 1 of 9
2

My morning smallcap tweet: Paragon of incompetence.

Paragon Entertainment (LON:PEL), PCI- PAL (LON:PCIP), H C Slingsby (LON:SLNG), Anexo (LON:ANX)

Paragon Entertainmnt (PEL) reverse ferret on FY rev and profit guidance due to not understanding FRS15. Pretax now -£3m, was £2.5m to £2.7m. This is the second time it's done exactly yhe same thing! In March it increased the guided loss from £2.4m.
PCI Pal (PCIP) signs global extension to UK reseller contract with leading CCaaS and UCaaS vendor, 8x8 Inc). Also extended its existing partner relationship with a leading telecommunications company in Canada.
Slingsby (SLNG) AGM stmt. Five month rev up 3.5% "reflecting the lower level of growth seen during April and May 2019." Blames unwinding of Brexit stockpiling. Cautious regarding H1.
Anexo (ANX) AGM stmt. Strong trading, guides pretax ahead of current market expectations of £18.1m.

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andrea34l 12th Jun 2 of 9
2

Elektron Technology (LON:EKT) is one of my larger holdings, and I'm happy with these results.

I also hold Norcros (LON:NXR) and the overall results look very good to me - the UK has put in a smashing performance, while South Africa is disappointingly slightly down, in part due to a shut down. The increased dividend is welcome, but the Brexit comments are a bit unnerving.

Eckoh (LON:ECK) are a perpetual disappointment; they don't deserve anything else to be written about them.

The recent store acquisitions should help Ramsdens Holdings (LON:RFX) in the current year.

Finals from Castings (LON:CGS) look quite good, with the foundries business doing well and Speedwell showing much improved losses. The share price is up 19p... but this is probably largely due to the 15p special dividend payable to holders on the register at 21st June. The chart is looking good with the 50 day MVA about to break through the 200 MVA.... but if I bought now then surely I wouldn't get on the register in time to get the special dividend... would I?

The trading update from Boohoo (LON:BOO) looks pretty good, with overall revenue up 39% and gross margin fairly stable at 55%; but the rating is HUGE and any disappointment is going to send the shares down the toilet - I'm too fragile to consider holding.

StatPro (LON:SOG) (which I think you covered in your parity report, Matylda) has acquired the environmental, social and governance ("ESG") research and index business unit ("ECPI") from ECPI Group Srl for a total estimated consideration (included deferred contingent consideration) of €2.9 million (£2.6 million) in cash.

Cloudcall (LON:CALL) announces a significant new integration and partnership with The Access Group's 'Profile' recruitment CRM."Built on CloudCall's new 'unify' architecture, the integration brings together CloudCall's Unified Communications services with Access Profile, to enable Access Profile's circa 15,000 users to capture details of every call and SMS and improve the quality of information in their Access Profile CRM system". I presume this allows another outlet for sales; no numbers are mentioned.

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cataclyptic 12th Jun 3 of 9

Good morning,
Elektron Technology looks to be an attractive proposition but the currently displayed 3.409% upturn is quite false as all that has happened is that the off er price has gone to 47.0 leaving the bid at 44.0.
There seems to be no option for limit orders so not much interest in these shares I'm guessing.
Being very new to investing, I would appreciate any helpful comments to help me understand this 'opportunity'.

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andrea34l 12th Jun 4 of 9
2

In reply to post #483241

Hi cc

The one thing Stocko is not good for is stock quotes - the price shown is the last trade and, depending on whether this is a buy or a sell, the movement is distorted and pretty meaningless.

I use Hargreaves Lansdown for stock quotes - Elektron Technology (LON:EKT) are up 1.5p today, or 3-4%, with buy trades currently going through at 45.8p.

Regards,

Andrea

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cataclyptic 12th Jun 5 of 9

Thanks Andrea
I was getting my prices from an IG dealing ticket which only provided 'at quote' prices.
I realise the prices here are always out of date and don't find them useful at point of sale.
I was surprised at the IG spread which was 3p meaning I need to see an increase of 7% just to break even (still excluding dealing costs).
As there is very little volume after todays news these prices don't give much room for error.
I was tempted to look further into it but was also quite surprised at the spread and the lack of interest after such an encouraging news update and was really looking for views to understand that.
Best wishes
Stuart

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Bonitabeach 12th Jun 6 of 9
1

In reply to post #483241

Catalyptic,

London Stock Exchange Elektron Technology (LON:EKT) can provide a guide on actual buy/sell trading prices, particularly on illiqid stocks. Wide spreads are something investors in small stocks usually have to stomach, unfortunately.

Bonitabeach

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matylda 12th Jun 7 of 9
1

Thanks guys for answering in my absence, it's 32 here today and the beach was too tempting!

I also use IG for free live prices, much more useful than the last quoted buy/sell price on Stocko.

Elektron Technology (LON:EKT) - Happy to hold for now.

Ramsdens Holdings (LON:RFX) - I remain tempted, it's on my Watch list.

StatPro (LON:SOG) - Will keep an eye out for Broker notes here, I reckon there's some value around the 130p level but the Net Debt is quite high and ROCE and Op Margin are rather poor.

Blog: Briefed Up
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andrea34l 12th Jun 8 of 9
2

In reply to post #483306

I don't know which broker you use to trade with, but a good one should be able to get you a quote inside the spread; another thing you can do is set a limit when you buy, and your broker could try and get shares for you at that price. I use Share Centre, they give very good quotes.

Regards,

Andrea

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matylda 13th Jun 9 of 9
2

Note - I updated my StatPro (LON:SOG) Parity PEG Price Report last night with the details from an updated Broker note from N+1 Singer, conclusion "Looks overvalued on a 1 Year view and about fairly valued on a 2 Year view - But Net Debt is 30% of Mkt Cap and almost 400% of 2019E PBT - ROCE & Op Margin both low".

Blog: Briefed Up
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