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

Wednesday, Sep 12 2018 by
15

Morning all!

1pm ( 1pm (LON:OPM) ) – 54.6p – £47.1m – PER 7.24

Final Results For The 12 Months To End May 2018 – Revenue £30.0m (2017: £16.9m), an increase of 78%, of which organic growth was 31%, PBT of £7.9m (2017: £4.1m), an increase of 93%, Basic EPS of 7.57p (2017: 6.09 pence), up 24%, Dividend 0.65p (2017: 0.50p), up 30%, Consolidated Net assets of £48.1m (2016: £28.5m), an increase of 69% and ROC is 13.3% (2017: 11.5%).

A lot to like in this update, it’s going on my Watchlist.

Anexo ( Anexo (LON:ANX) ) – 115p – £126.5m – PER 9.63

Interim Results For The 6 Months To End June 2018 – Confident of meeting FY expectations.

A new one for me (A UK company focused on providing replacement vehicles and associated legal services to people who have been involved in a non-fault accident). Initial view is there’s perhaps some value here but not enough to make me a Buyer at the moment – I’m Neutral for now.

Concurrent Technologies ( Concurrent Technologies (LON:CNC) ) – 78.5p – £57.1m – PER 11.0

Interim Results For The 6 Months To End June 2018 – Revenue £7.9m (H1 2017: £7.8m), PBT £1.1m (H1 2017: £1.4m), EPS 1.5p (H1 2017: 1.84p), Interim Dividend 0.95p (H1 2017: 0.90p).

Even on a PER of around 10 this doesn’t get me interested, although the ROCE & Operating Margin (taken from Stockopedia) are impressive. I remain Neutral.

Epwin ( Epwin (LON:EPWN) ) – 75.55p – £108.0m – PER 6.71

Interim Results For The 6 Months To End June 2018 – All metrics are down here but the board still expects FY Adjusted PBT to be in-line.

It seems cheap but much against the Stockopedia StockRank of 97 I have much less convictions and remain Neutral.

Medica ( Medica (LON:MGP) ) – 145p – £161.1m – PER 17.2

Interim Results For The 6 Months To End June 2018 – Revenue up 18.2%, Adjusted Operating Profit up by 15.4% and Net Debt significantly reduced to £2.5m (2017: £8.5m). FY to be in-line.

I sold out here a couple of months or so ago as I was just getting a little nervous. This remains on my Watchlist because the forecasts if met, are quite impressive considering the current valuation.

Ten Entertainment ( Ten Entertainment (LON:TEG) ) – 256p – £166.4m – PER 12.1

Results For The 26 Weeks To 1st July 2018 – Weather blamed for Revenues up just 7.7% to £37.8m, Adjusted PBT up 0.4% at £6.4m (HY17: £6.4m) – The Interim Dividend is up 10% to 3.3p. Now expects FY to be broadly in-line with expectations.

I am long here and not being sure how much of this is built into the current price (we all knew about the weather eh!) – Will keep an eye on price action and another eye out for broker notes.

Elcosoft ( Elecosoft (LON:ELCO) ) – 85p – £66.2m – PER 21.0

Interim Results For The 6 Months To End June 2018 – Revenue up 5% to £10.5m from £10m (7% CC), Adjusted Operating Profit up 34% to £1.75m from £1.31m, Adjusted EPS up 38% to 1.8p from 1.3p. Net Cash stands at £2.66m up from £0.26m and the Interim Dividend is up 40% to 0.28p, from 0.2p. There’s also a change in FD which seems amicable.

I am long here but this update seems rather cautious.

Water Intelligence ( Water Intelligence (LON:WATR) ) – 333p – £50.7m – PER 35.0

Interim Results For The 6 Months To End June 2018 –   H1 Revenue up 39% to $11.80m (1H 2017: $8.52m) with all major revenue streams growing strongly. PBT comfortably in-line with expectations with EPS up 52% at 7.3c.

I am long here and these results seem to support a continued holding.

As always, all comment most welcome!


Disclaimer:  

As per our Terms of Use, Stockopedia is a financial news & data site, discussion forum and content aggregator. Our site should be used for educational & informational purposes only. We do not provide investment advice, recommendations or views as to whether an investment or strategy is suited to the investment needs of a specific individual. You should make your own decisions and seek independent professional advice before doing so. The author may own shares in any companies discussed, all opinions are his/her own & are general/impersonal. Remember: Shares can go down as well as up. Past performance is not a guide to future performance & investors may not get back the amount invested.


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1pm plc is a holding company. The Company provides financial services to the United Kingdom businesses. The Company finances a range of business assets to small and medium sized enterprises (SMEs). The Company offers small business loans, lease finance and hire purchase. The Company's leasing portfolio consists of a mixture of sectors and assets, such as garages, cleaners, fish and chip shops, and beauty salons. The Company offers equipment finance and hire purchase finance for various assets, such as Beauty equipment; Cleaning equipment; Manufacturing equipment; Medical equipment; Gym equipment; Catering/kitchen equipment; Restaurant/cafe/pub equipment; Copiers, faxes, scanners, projectors and printers; Security systems; Construction equipment; Furniture; Computers/Servers and hardware, and Telecoms equipment. The 1pm SME loan product is available to various businesses. The money borrowed can be used for various purposes, such as Audit fees, cash flow and Website design. more »

LSE Price
41.75p
Change
 
Mkt Cap (£m)
36.6
P/E (fwd)
5.5
Yield (fwd)
2.5



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


4 Posts on this Thread show/hide all

MrContrarian 12th Sep 1 of 4
3

My morning smallcap tweet: Sweet FA parterniship.

Fireangel Safety Technology (LON:FA.), Petards (LON:PEG)

FireAngel (FA.) collaboration with Mears for its integrated connected home management system. No numbers.
Petards Group (PEG) wins another contract to supply Siemens Mobility with Petards' eyeTrain systems. £0.77m plus option for £0.34m. Deliveries starting in January 2019, expected completion in 2020.

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Beginner 12th Sep 2 of 4
1

I have a little experience of Concurrent Technologies (LON:CNC) . This is an exceptionally well run company, producing niche products, growing (albeit slowly), and with rather good margins. There is also a very large cash surplus in the bank. I have only positive impressions here, both from the figures and from my dealings with them. However there is a 5% spread and a yield of just 2%, so I cannot make a case for investing. The only hope for making a decent profit here might be a takeover, but the management seem you and enthusiastic enough to be immune to any approach.

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andrea34l 12th Sep 3 of 4
5

Thanks as always for an excellent early-morning heads-up write-up. It helped me zero-in on the 1pm (LON:OPM) results, which look smashing on pretty much every level with improving ratios! I bought at around 47p in June and have topped up this morning, I may be wrong but a PER of less than 10 considering organic growth of 31% and eps growth 24% seems just ludicrous. Note that at 9.24 a research note came out in the RNS, this is the link:

http://www.hardmanandco.com/do...

I had a quick look at results from Elecosoft (LON:ELCO) and I continue to think that this remains poor value. The comments they make concerning revenue growth accelerating is simply factually incorrect! In the 2017 full year results revenue growth was 8% constant currency, now it is 7%.

I also hold Ten Entertainment (LON:TEG) for the moment anyway, the results are a little disappointing though one can't blame people for enjoying the unusually fine weather; I'm presuming the second half is always the stronger one as bowling would be more popular for the same reason of weather. There aren't a lot of trades going through so far, but they are all buys to-date.

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matylda 12th Sep 4 of 4

In reply to post #398184

Thanks as always for your kind words and your additional analysis.

Blog: Briefed Up
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