I Read The News Today Oh Boy! 15-Mar-2018

15th Mar '18 by matylda

3 comments 2254 reads

Morning all!

Quite a short one this morning…

Portmeirion ( Portmeirion (LON:PMP) ) – 1037.5p – £112.6m – PER 14.4

Results For The 12 Months To End December 2017 – Ninth consecutive year of record Revenue, up 10.6% to £84.8m (2016: £76.7m), PBT up 13.0% to £8.8m (2016: £7.8m), EPS up 9.2% to 65.07p (2016: 59.60p), Total Dividends up by 7.5% to 34.66p (2016: 32.25p), Net Cash of £1.6 million (2016: Net Debt of £2.3 million) and the Operating Margin is up 10.7% (2016: 10.4%). Currently 20% ahead of last year, the outlook for 2018 is positive.

Still like this a lot, in order to keep an eye on it I will leave it on my Watchlist, 900p.

FW Thorpe ( FW Thorpe (LON:TFW) ) – 340p – £394.0m – PER 26.0

Interim Results For The 6 Months To End December 2017 – Pretty flat “Order income did not reach the record highs of 2016/17, making a further record-breaking full year result a challenge”.

Guessing these interims will take some shine off what is quite a highly rated share (that’s done pretty well over the past 5 years but not so well this past year or so). It’s not for me at present.

As always, all comment most welcome – Have a great day!

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MrContrarian

15th Mar '18

My morning smallcap tweet:

PV Crystalox Solar (LON:PVCS), LMS Capital (LON:LMS), 1Spatial (LON:SPA), Redhall (LON:RHL)

PV Crystalox Solar (PVCS) FY pretax €12m (€1.7m). Op C/F -€1.2m (+€18.0m). Net cash €26.9m (€28.8m). Will "seek a buyer who would be willing to develop the silicon wafering operation. In parallel consultations will take place with the workers council in Germany to explore the merits of significantly restructuring the operation to focus on the cutting of non-silicon materials such as glass and quartz together with a continued focus on research and development activities...."Following receipt of the funds from the arbitration award mentioned above, the Group is expected to have a substantial net cash position. In the light of this the board intends to explore options for the future of the Company in order to maximise shareholder value. These may include a cash return to shareholders, the acquisition of an existing business or a combination of these alternatives...The Group expects soon to reach an understanding with the customer regarding the arbitration award." An understanding? Accept less? I hold.
LMS Capital (LMS) NAV 80p/sh (end Q3: 74p). LMS now focused on implementing the new investment policy and growing net asset value for shareholders.
1Spatial (SPA) Guides FY in line. "With the disposal of Enables IT* there is now laser focus on the Group's core Geospatial business." So they weren't operating it optimally before? Hate these tired cliches. * 1spatial PAYS £150k to get shot of Enables IT business even though adj EBITDA was £0.5m. "This Disposal represents an important step forward."
Redhall Group (RHL) warns on FY due to delayed delivery dates on Hinkley Point C contracts just signed. "These are our first significant orders on what is a critical infrastructure project for the UK. We believe these contracts will be the first of many on the Hinkley Point C project and in the nuclear sector as a whole in the coming years."

andrea34

Portmeirion (LON:PMP) seem to be a solid, steady, and reliable company... but if they are growing at approx 10% a year in eps terms then IMHO that means they are overvalued by at least 25% at 1050. I'm probably missing something... I suppose the dividend of 3% is reasonable, and the outlook is promising

matylda

Portmeirion (LON:PMP) - Not far off my thinking.

I Read The News Today Oh Boy! 15-Mar-2018

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Matylda

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