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!
