I Read The News Today Oh Boy! 14-Aug-2018

Tuesday, Aug 14 2018 by
10

Morning all!

Marshall Motor Holdings ( Marshall Motor Holdings (LON:MMH) ) – 157p – £122.2m – PER 6.47

Results For The 6 Months To End June 2018 – “Robust” and “further profit growth” are in the headline here but the actual numbers seem uninspiring.

First time I have covered this (not sure why) and I see no reason to be anything other than Neutral for now. That said there does seem to be £121.1m of freehold / long leasehold property on the Balance sheet!

Mears ( Mears (LON:MER) ) – 355p – £357.5m – PER 9.92

Results For The 6 Months To End June 2018 – A solid performance (in-line) with Revenue down -8%! Statutory PBT is +1% and EPS +6%, the Interim Dividend is up 3%. Confident of delivering against FY expectations.

I still can’t get away from Neutral here and I think Stockopedia has it about right – Classifying it as an “Adventurous, Mid Cap, Contrarian” stock.

H & T ( H & T (LON:HAT) ) – 310p – £116.7m – PER 8.68

Interim Results For The 6 Months To End June 2018 – PBT up 10.9% to £6.1m (H1 2017: £5.5m), Basic EPS of 13.51p (H1 2017: 11.70p) and the Interim dividend is 4.4p (2017: 4.3p). Trading continues in-line.

Down almost 20% from it’s ATH this is starting to look even more attractive now (especially as I have now also sold out of RFX). I will however remain Neutral as I suspect there’s maybe room for more weakness still.

LoopUp ( LoopUp (LON:LOOP) ) – 410p – £225.0m – PER 37.3

Trading Update For The 6 Months To End June 2018 – Revenue up 39% (22% CC), Gross Margins up 40bps to 77.2% and “confident in our ability to deliver strong future growth and meet market expectations”.

Looking more attractive at this valuation but not quite attractive enough. I am going to take this off my Watchlist for now (was at 280p) and go Neutral whilst keeping an eager eye out for updates.

As always, all comment most welcome!

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Marshall Motor Holdings plc is an automotive retail and leasing company. The Company is engaged in the sale and repair of new and used vehicles through Marshall Motors, and the leasing of vehicles through Marshall Leasing. Its segments include Retail and Leasing. The Retail segment is engaged in the sales and servicing of motor vehicles and ancillary services. It operates through franchise agreements with vehicle manufacturers, which are typically for a length of between 2 and 5 years. The Leasing segment provides service-led fleet management services. It focuses on leasing vehicles to end consumers and fleet customers. Its businesses are integrated and include approximately 80 franchise dealerships, and represent over 20 brands. It operates from over 60 sites across approximately 20 counties in England. The Company also operates approximately two accident and repair centers, and a filling station. It operates approximately two standalone body shops and a standalone petrol forecourt. more »

LSE Price
160p
Change
-3.0%
Mkt Cap (£m)
125.1
P/E (fwd)
6.8
Yield (fwd)
5.4

Mears Group PLC is a United Kingdom-based holding company. The Company's principal activities are the provision of a range of outsourced services to the public and private sectors. The Company operates through two segments, which include Housing and Care. The Housing segment is engaged in providing a full housing management service predominantly to Local Authorities and other Registered Social Landlords. The Care segment provides personal care services to people in their own homes. The Company's Housing segment repairs and maintains over 700,000 of approximately five million Social Homes in the United Kingdom. It provides personal care to over 30,000 elderly and disabled people. The Company serves customers, including local authorities, charities, tenants and service users, community groups, private landlords', elderly people and others. Its subsidiaries include Mears Limited, Scion Technical Services Limited, Morrison Facilities Services Limited and others. more »

LSE Price
247p
Change
 
Mkt Cap (£m)
272.9
P/E (fwd)
7.5
Yield (fwd)
5.5

H&T Group plc is a non-trading holding company. The Company provides a range of simple and accessible financial products tailored for a customer base, which has limited access to, or is excluded from, the traditional banking and finance sector. Its segments include Pawnbroking, which is engaged in providing secured loans against collateral (the pledge); Gold Purchasing, which is involved in buying Jewelry directly from customers through its stores; Retail, which is involved in retail sales of gold and jewelry, and the retail sales are forfeited items from the pawnbroking pledge book or refurbished items from its gold purchasing operations; Pawnbroking Scrap, which comprises various other proceeds from gold scrap sales other than those reported within Gold Purchasing; Personal Loans, which comprises income from its unsecured lending activities, and Other Services, which comprises third party check encashment, buyback, prepaid debit card product and foreign exchange currency services. more »

LSE Price
327.5p
Change
-0.5%
Mkt Cap (£m)
123.9
P/E (fwd)
11.1
Yield (fwd)
3.8



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


1 Post on this Thread show/hide all

MrContrarian 14th Aug '18 1 of 1
3

My morning smallcap tweet: Rare public censure from LSE for MUBL.

Phaunos Timber Fund (LON:PTF), £D4T4, React (LON:REAT), PHSC (LON:PHSC), Castings (LON:CGS), MBL (LON:MUBL), French Connection (LON:FCCN)

Phaunos Timber Fund (PTF) rejects firm offer of 49c. Is selling off assets, guides realisation of 54-60c within 6 to 9 months, which would cover 92% of the Portfolio Value. Will all sales proceeds from the Asset Realisation Process as they are received, after allowing for cash reserves to wind-down the Company.
D4T4 Solutions (D4T4) contract wins. "D4T4 has record bookings in H2 In the year to date, and in line with management's expectations, we have been successful in converting a number of significant opportunities from our strong pipeline. This puts us on track to return to more normalised levels of business weighting for H1."
React Group (REAT) keep the lights on placing of £420k at 0.3p, a 21% discount.
PHSC (PHSC) finals. Lots of detail on subsidiary trading but I can't fathom if group result is OK. Q1 trading: rev £1.56m (£1.82m), EBITDA £121,815 (£121,351), which included results for ALS (discontinued). "Highly encouraging growth in revenue and profit from QCS gives us an expectation that overall and on a consolidated basis, 2018/19 will see an improvement on 2017/18."
Castings (CGS) AGM stmt. Demand from main customers remains strong but "the level of reorganisation at CNC Speedwell is such that we do not foresee it returning to profitability during this financial year."
MBL Group (MUBL) RNS late last night. Public censure for failing to report poor trading in Sept 2017 www.londonstockexchange.com/companies-and-advisors/aim/advisers/aim-notices/ad18.pdf Also will shortly publish Circular and Notice of General Meeting re mooted delisting. This has been a massive crock, with late-as-possible results only the tip of the iceberg of contempt for holders.
French Connection (FCCN) Times says Mashley won't pay HoF concession debts. He'll only pay for sales since Friday. There was wishful talk of pressure on him to pay. Ha! I hold.

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