I Read The News Today Oh Boy! 15-Nov-2017

Wednesday, Nov 15 2017 by
8

Morning All!

Utilitywise ( Utilitywise (LON:UTW) ) – 15-Nov-2017 – 55.75p – £43.8m – PER 6.05

Final Results Timing Update – Extended from 21 November to December – Usually signal (more) bad news!

I’m staying out of the way here.

Walker Greenback ( Walker Greenbank (LON:WGB) ) – 15-Nov-2017 – 210.5p – £149.2m – PER 12.6

Trading Update In Respect To The Year Ending January 2018 – Expects Profits for the year to be 10% lower than it’s expectations (only 6 weeks after saying it was growing ahead of expectations!).

I considered the previous update “cloudy” and I think this is naughty (6 weeks!). I will be avoiding this one for now.

Game Digital ( GAME Digital (LON:GMD) ) – 15-Nov-2017 – 40.13p – £68.3m – PER n/a

Final Results For The 12 Months To 29 July 2017 – This looks worse than expected.

I bought in here in the summer as it looked very cheap – I have sold out half for 100% (as I usually do when doubling up) and continue to hold the rest, basically for free. I would consider adding only if the price looks very cheap again.

AB Dynamics ( Ab Dynamics (LON:ABDP) ) – 15-Nov-2017 – 762.5p – £147.9m – PER 26.3

Final Results For The 12 Months To End August 2017 – Revenue up 20.0% to £24.6m (2016: £20.5m), adjusted Operating Profit up 26.2% to £5.9m (2016: £4.7m), adjusted fully diluted EPS up 22.5% to 28.28p (2016: 23.09p), Dividend 3.331p for the year up 10% and Cash of £9.6m (2016: £10.4m). And, the record order book provides good visibility into Q3 2018.

A good update but I just have a couple of concerns. Like Stockpedia (Value = 10), I am concerned about the value at these levels and the fact that this is the last update from the current Chief Exec. Those things aside, I quite like it.

Premier Foods ( Premier Foods (LON:PFD) ) – 15-Nov-2017 – 36.5p – £322.4m – PER 5

Half Year Results For The 6 Months To End September 2017 – Seems like a poor update to me and there’s plenty of concerns here for me anyway.

There’s loads of Net Debt of over 150% of Mkt Cap and the Pension deficit of circa £100m takes this to 200% of Mkt Cap, give or take a few quid. And, the issue of a new £210m high yield bond in June! This just looks like trouble ahead and it’s not for me.

Avon Rubber ( Avon Rubber (LON:AVON) ) – 15-Nov-2017 – 1065p – £348.1m – PER 16.2

Final Results For The 12 Months To End September 2017 – Seems in-line with/slightly ahead of expectations - In CC, Revenue up 4.5%, adjusted Operating Profit up 16.1% and adjusted EPS up 10%, the Dividend is up 30% and there’s Cash of £24.7m (up £2m).

Quite like the look of this although it’s probably fairly priced here.

Wey Education ( Wey Education (LON:WEY) ) – 15-Nov-2017 – 33p – £34.3m – PER 33.3

Placing For Potential Acquisition - A 20% dilution at a 33% discount is a bit of a kick in the teeth for current holders although it does give others, including me a chance to take part.

I quite liked this previously and will consider taking part here after looking into this event a little more.

A bit of excitement here this morning!


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Utilitywise plc is a United Kingdom-based business energy and water consultancy. The principal activity of the Company is of an intermediary for energy supplies to the commercial market. Its operating segments include Enterprise and Corporate. The Enterprise segment is engaged in energy procurement by negotiating rates with energy suppliers for small and medium-sized business customers throughout the United Kingdom, the Republic of Ireland and certain European markets. The Corporate segment is engaged in energy procurement of larger industrial and commercial customers, often providing an account care service and offering a range of utility management products and services designed to help customers manage their energy consumption. It provides energy management services, including procurement, energy reduction and audit, carbon offsetting, smart metering, water brokerage, design, manufacture and supply of timers, controllers and building management systems, and the Internet of Things. more »

LSE Price
49p
Change
1.6%
Mkt Cap (£m)
37.9
P/E (fwd)
5.2
Yield (fwd)
1.0

Walker Greenbank PLC is an international luxury interior furnishing company. The principal activities of the Company are design, manufacture, marketing and distribution of wall coverings, furnishing fabrics and associated products for the consumer market. It operates through two segments: Brands and Manufacturing. The Brands segment is engaged in the design, marketing, sales and distribution, and licensing activities of Sanderson, Morris & Co, Harlequin, Zoffany, Anthology and Scion brands operated from the United Kingdom and its foreign subsidiaries in the United States and France. The Manufacturing segment is engaged in the wall covering and printed fabric manufacturing businesses operated by Anstey and Standfast. It sells in approximately 80 international markets. It operates through its subsidiaries in the United States and France, and its own sales operations in Holland and Dubai. The Company has showrooms in London, New York, Paris and Dubai. more »

LSE Price
136p
Change
 
Mkt Cap (£m)
96.4
P/E (fwd)
9.0
Yield (fwd)
3.4

GAME Digital plc is a retailer of video games. The Company operates approximately 580 stores across the United Kingdom and Spain. The Company's segments include UK, Spain, and Events, Esports & Digital. Its UK and Spain segments are engaged in the sale of hardware, software, accessories and digital. Its Events, Esports & Digital businesses include SocialNAT and Ads Reality Limited (Ads Reality). The Company's activities include multichannel retailing and merchandising; supply chain management and distribution; software and technology development; marketing and customer relationship management (CRM); sourcing and procurement from suppliers, as well as range of individual customers; event management and production, and training, development and employee engagement. The Company's subsidiary undertakings include Game Retail Limited, Game Stores Iberia SLU, Multiplay (UK) Limited, Game Esports and Events Limited, and Game Digital Solutions Limited. more »

LSE Price
54.75p
Change
1.4%
Mkt Cap (£m)
92.3
P/E (fwd)
n/a
Yield (fwd)
n/a



  Is Utilitywise fundamentally strong or weak? Find out More »


4 Posts on this Thread show/hide all

MrContrarian 15th Nov 1 of 4
1

My morning smallcap tweet:

Motif Bio (LON:MTFB), Koovs (LON:KOOV), GAME Digital (LON:GMD), Blue Prism (LON:PRSM), Walker Greenbank (LON:WGB), Utilitywise (LON:UTW)

Motif Bio (MTFB) gets $20m secured debt at 10% PA, with warrants. Plans to submit iclaprim (for the treatment of acute bacterial skin and skin structure infections) to the US FDA by and Q1 2018.
Koovs (KOOV) will be seeking a renewal of permission for the issue of up to £18.9m of convertibles. In addition to the £8.9m which has previously been received, the Company remains in advanced negotiations to secure a term sheet from an investor committing to invest. Super bargepole.
Game Digital (GMD) FY rev down 4% (on 52w basis). EPS -7.1p (+1.5p). Trading for the first 15 weeks of the year has been ahead of Group plans.
Blue Prism Group (PRSM) FY trading: rev comfortably ahead of current consensus expectations of £21.8m and an adjusted EBITDA loss broadly in line with a f/c of £7.3m. Expects revenue for the current financial year to be above the upper end of the current analyst range. CFO leaves in Jan.
Walker Greenbank (WGB) warns FY profit likely to be ~10% lower than its expectations. Brand sales in the UK, excluding Clarke & Clarke, have weakened significantly against management's expectations.
Utilitywise (UTW) auditors need further independent review, results delayed from 21st Nov. No date given.

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vik2001 15th Nov 2 of 4
1

yes a little gutted with Wey I topped up the other day on it. need to work out if I should add further or not

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catalogue 15th Nov 3 of 4

Gutted with Walker Greenbank - resolved to sell yesterday and ran out of time. Time is indeed money, ouch!

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simoan 15th Nov 4 of 4
2

In reply to catalogue, post #3

Gutted with Walker Greenbank - resolved to sell yesterday and ran out of time. Time is indeed money, ouch!

I count myself quite lucky here. I held Walker Greenbank (LON:WGB) but sold out in the run up to the results because I was expecting something like today's update in the outlook statements, particularly given their exposure to the UK fabrics/furnishing retail market. 

Like matylda, I think this is pretty bad form only 6 weeks after the results. I felt management here were pretty good previously but despite handling recovery from the flood well, they've blotted their copybook here. It also looks like the Clarke & Clarke acquisition that loaded up the balance sheet with debt may have been badly timed, although that side of the business appears to be holding up. 

FWIW I dumped the leftovers of my Portmeirion (LON:PMP) holding this morning. Surprisingly, given the Walker Greenbank (LON:WGB) warning it's the only trade so far today, so it's easily spotted!

All the best, Si

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