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).
