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

Wednesday, Mar 14 2018 by
24

Morning all!

Dignity ( Dignity (LON:DTY) ) – 853p – £425.9m – PER 12.6

Results For The 12 Months To End December 2017 – Seems to be in-line (ish). Outlook statement does not sound particularly bullish except deaths are up 7% so far in 2018, expectation was no increase.

3 times cheaper than 6 months ago, in-line is not going to get me interested yet.

EKF Diagnostics ( EKF Diagnostics Holdings (LON:EKF) ) – 26.25p – £120.1m – PER 25.0

Results For The 12 Months To End December 2017 – Revenue up 8% to £41.6m (2016: £38.6m), Gross Profit up 25% to £22.9m (2016: £18.3m), EPS 0.59p (2016: nil), Net Cash of £7.0m (31 Dec 2016: £2.2m). 2018 in-line with managements expectations.

I just cannot work out if this looks good or if it’s just average. The spidey senses are not triggering buy signals so for now I will remain Neutral.

Empresaria ( Empresaria (LON:EMR) ) – 94.45p – £46.3m – PER 7.62

Results For The 12 Months To End December 2017 – The headline is “Record adjusted profit before tax and adjusted earnings per share”. Revenue is up 28% CC from £270.4m to £357.1m with Adjusted PBT up 14% to £11.0m versus £9.2m last time. It’s 6 consecutive years of double digit % growth in adjusted earnings per share and the Final Dividend is up by 15% to 1.32p (2016: 1.15p.

Quite like this with the main concerns probably being the Operating Margin and Net Debt. Enough to remain Neutral for now.

SafeCharge International ( SafeCharge International (LON:SCH) ) – 307.5p – £453.5m – PER 18.2

Results For The 12 Months To End December 2017 – Revenue up 7% to $111.7m ($104.1m last time) but Profits and EPS are down. The total annual Dividend will be just 3% up on last year.

I hold a long position here but have to say, I am not overly impressed with these results. Will keep an eye on the market reaction.

StatPro ( StatPro (LON:SOG) ) – 187p – £122.7m – PER 26.2

Results For…

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Dignity plc is a United Kingdom-based provider of funeral related services in the United Kingdom. The Company operates through three segments: funeral services, crematoria and pre-arranged funeral plans. The Company's funeral services relate to the provision of funerals and ancillary items, such as memorials and floral tributes. The Company's crematoria services relate to cremation services and the sale of memorials and burial plots at the Company operated crematoria and cemeteries. The Company's pre-arranged funeral plans include the sale of funerals in advance to customers wishing to make their own funeral arrangements, and the marketing and administration costs associated with the sales. The Company operates a network of approximately 720 funeral locations throughout the United Kingdom trading under established local trading names. The Company operates approximately 40 crematoria in England and Scotland. The Company's number of active funeral plans is approximately 374,000. more »

LSE Price
474p
Change
0.1%
Mkt Cap (£m)
236.9
P/E (fwd)
7.1
Yield (fwd)
5.2

EKF Diagnostics Holdings plc is engaged in developing, manufacturing and supplying of products and services into the in-vitro diagnostic (IVD) market place. The Company manufactures and sells diagnostic instruments, reagents and certain ancillary products. The Company's point-of-care range includes hemoglobin analyzers, HbA1c analyzers and glucose analyzers for use in the screening, monitoring and diagnosis of patients, as well as rapid tests for pregnancy and common infectious diseases. The Company's Central Laboratory division includes a range of products for use in both large and small laboratory facilities. Its subsidiary, EKF Life Sciences, provides bulk diagnostic enzyme manufacturing and fermentation services. EKF Life Sciences specializes in producing enzymes, including Salicylate Hydroxylase and Beta-Hydroxybutyrate Dehydrogenase. Its products include Quo-Test A1c, Biosen C-Line and Biosen S-Line, STAT-Site M B-HB analyzer, sTNFR1 biomarker test kits and Altair 240. more »

LSE Price
30.25p
Change
4.3%
Mkt Cap (£m)
131.7
P/E (fwd)
20.0
Yield (fwd)
n/a

Empresaria Group plc is a United Kingdom-based international specialist staffing company. The Company's principal activity is the provision of staffing and recruitment services. The Company is organized across three regions: UK, Continental Europe and Rest of the World and operates across seven key sectors. The Company targets a balanced and diversified spread of operations across its regions and sectors. The Company also targets professional and specialist job levels where its brands can offer value added services to clients. The Company has three main service lines, temporary recruitment, permanent recruitment and offshore recruitment services. The Company’s offshore recruitment services represents a range of different recruitment services and provides training services in South East Asia. The Company's brands include Alternattiva, Ball and Hoolahan, Become, FastTrack and Greycoat. It has operations in 21 countries. more »

LSE Price
64p
Change
 
Mkt Cap (£m)
31.4
P/E (fwd)
5.1
Yield (fwd)
3.6



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


10 Posts on this Thread show/hide all

MrContrarian 14th Mar '18 1 of 10
6

My morning smallcap tweet:

Somero Enterprises Inc (LON:SOM), Petards (LON:PEG), Alumasc (LON:ALU), Sportech (LON:SPO), Flowtech Fluidpower (LON:FLO), Corero Network Security (LON:CNS)

Somero (SOM) FY rev up 8%, adj EPS up 15% to 31c, a slight beat. FY div 15.5c up 40c + special div 3.6c. Bullish. I hold.
Petards Group (PEG) FY rev up only 2% as previously warned. Confident.
Alumasc Group (ALU) warns FY U/L pretax 15% below f/c. Blames slowdown in construction sector, recent weather.
Sportech (SPO) terminated sale process, warns on FY. Fills the vacant CEO position.
Flowtech Fluidpower (FLO) placing at 170, a 4% disc., to fund acquisition.
Corero Network Security (CNS) wins two orders for SmartWall worth $0.9m, about 10% of T/O.

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timarr 14th Mar '18 2 of 10
3

Dignity (LON:DTY) have already announced that they expect lower profits this year as a result of the business model changes that they're making, so the results aren't really indicative of what will happen going forward.

Also what look like very credible results from Marshalls (LON:MSLH). I wasn't expecting much from the RNS, but 13% pre-tax rise looks a decent outcome in a tricky market.

timarr

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herbie47 14th Mar '18 3 of 10
4

Everyman Media (LON:EMAN) net profits are up from £60k to £1.27m. Their cinemas are different from your normal ones. Rollout seems to be going well. I had similar thoughts about cinemas but this seems to be doing well.

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andrea34l 14th Mar '18 4 of 10
4

Results out today from Symphony Environmental Technologies (LON:SYM) look good - price currently +7% (I hold):

·      Revenues increased by 21.6% to £8.27 million (2016: £6.80 million)

·      Gross profit increased by 17.8% to £4.01 million (2016: £3.41 million)

·      EBITDA before R&D increased by 57.9% to £1.20 million (2016: £0.76 million)

·      Profit before tax increased by 249.6% to £0.43 million (2016: £0.12 million)

·      Profit after tax increased by 156.0% to £0.43 million (2016: £0.17 million)

·      Basic earnings per share increased to 0.28p (2016: 0.11p)

·      Cash generated from operations £1.03 million (2016: cash used £0.34 million)

·      Improved working capital position with net cash of £0.63 million (2016: net debt £0.37 million)

·      Distributable reserves of £0.07 million (2016: retained deficit £3.97 million)


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ricky65 14th Mar '18 5 of 10

In reply to post #338048

Yeah, Everyman Media (LON:EMAN) is a niche cinema chain. It's not like your commercial Odeons, VUEs, Cineworlds. It's a superior experience imo (luxury and upmarket). Note: I hold.

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matylda 14th Mar '18 6 of 10
1

Fair comment re: Everyman Media (LON:EMAN) - Makes me even more wary of investing if I'm honest. Perhaps the same people no longer buying on the High Street like Debenhams, BHS and the like and the same people no longer eating at Jamies, Chiquito's, Franco Manca, etc.

Just a view that's all.

Blog: Briefed Up
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herbie47 14th Mar '18 7 of 10

In reply to post #338428

Hi Matylda,
Not sure I fully understand your comment. I don't think it is the same people who shop at Debenhams (LON:DEB) or BHS. Cinema numbers have not fallen in the last 10 years, in fact they are up slightly. Is the High Street not going to become more entertainment and eating/drinking as more shopping will be online?

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matylda 14th Mar '18 8 of 10
1

In reply to post #338473

OK - I thought you had "similar thoughts".

Maybe I didn't phrase it correctly - I don't believe the cinema experience is going to grow due to the attraction of the easy to use cheaper on-line alternatives, especially with talk of movies going straight to Netflix (can't find the article now).

Add this "their cinemas are different from your normal ones" and "it's not like your commercial Odeons, VUEs, Cineworlds. It's a superior experience imo (luxury and upmarket)" into the mix and I just feel the majority of customers are the same ones that have affected retailers and restaurants that were "different from your normal ones", retailers and restaurants that were a little more "luxury and upmarket". Mostly due to cheaper or more convenient alternatives.

Of course, as always, just sharing my view.

I would also note that if it is true cinema numbers have not fallen in the last 10 years (I believe you of course), assuming the growth is greater than the population/demographic growth - I could take that one of two ways, 1, it's due a correction, 2 it's a sustainable area of growth. Obviously, based on my comment on the cinema experience I would add the former as a reason for me not to invest in cinema's.

Once again, just a view and it's great we are not all in agreement or it would be a dull, dull world.

Blog: Briefed Up
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herbie47 14th Mar '18 9 of 10

In reply to post #338488

I would not say it's a growth are, here are the numbers, people have been writing off cinemas for years but it has not happened yet. I think there is room for someone doing it slightly differently. Just as for retail yes some companies are down but others are still doing well. Going out to a cinema is different experience from watching it on TV at home, just like going out for dinner or drinking at home. Sure if there is a bad recession then sales will fall. I only have a small recent holding, so far so good.

Apart from Somero Enterprises Inc (LON:SOM) I'm not sure what shares you hold.

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matylda 14th Mar '18 10 of 10
1

In reply to post #338503

Sure, understand that point of view completely.

Apart from Somero Enterprises Inc (LON:SOM) (and SafeCharge International (LON:SCH) mentioned today), I guess like most investors, many others.

I do remember (almost all of the time) to declare any long position when commenting on any stock in my morning comment.

Best of luck with the Everyman Media (LON:EMAN) position.

Blog: Briefed Up
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