I Read The News Today Oh Boy! 17-Jul-2019

Wednesday, Jul 17 2019 by

Morning all!

Alliance Pharma ( £APH ) – 70p – £365m – PER 12.8

Trading Update For The 6 Months To End June 2019 – Revenue up 29% (10% ex. acquisitions), expects FY to be in-line. Net Debt down and new Credit Facility in place (to facilitate future acquisitions).

Still looks fairly priced here (at best) to me.

Augean ( £AUG ) – 121p – £125m – PER 10.5

Results For The 6 Months To End June 2019 – Revenue up 40%, Adjusted PBT up 100% and EPS up 114%, Net Cash at £22.8m (up from £8.2m). Expects to exceed FY market expectations.

There’s almost enough Net Cash to cover the potential HMRC liabilities (circa £30m) if not resolved but it’s still enough to put me off for now.

Bloomsbury Publishing ( £BMY ) – 234p – £176m – PER 13.8

Trading Update For The 4 Months To End June 2019 – Expecting FY to be in-line.

Seems about fairly valued with 250p as a potential cap.

Carr’s ( £CARR ) – 150p – £137m – PER 10

Trading Update – Expects FY to be in-line.

Not enough to interest me any further at this stage, seems about fairly valued.

Hotel Chocolat ( £HOTC ) – 370p – £415m – PER 33

Trading Update For The 12 Months To End June 2019 – Revenue up 14% with PBT to be in-line. This year continues to be in-line.

Looks like a slight beat of Revenue but with EPS growth forecast at 7% in 2019E and 17% in 2020E I just don’t see how this justifies a PER pf 30+, my only interest here would be a Short position.

Ideagen ( £IDEA ) – 146p – £320m – PER 25

Results For The 12 Months To End April 2019 – Revenue up 29% to £46.7m (67% recurring), Adjusted PBT up 26% to £12.2m and EPS up 15% to 4.8p, the Total Dividend is up 15% with Net Debt at £1.3m (Net Cash £0.8m last time).

I still see this as fairly priced around the 150p level.

UP Global Sourcing Holdings ( £UPGS ) – 86p – £72m – PER 11

Trading Update – Strong, expects FY Revenue circa £121.5m with Underlying PBT above market expectations.…

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Carr's Group plc is engaged in the agriculture and engineering activities. The Company's segments are Agriculture and Engineering. The Agriculture segment includes the sale of animal feed and feed blocks together with retail sales of farm equipment, fuels and farm consumables. The Engineering segment includes the design and manufacture of bespoke equipment for use in nuclear, oil and gas, and petrochemical industries. Its products include manipulators, robotics, specialist fabrication and precision machining. The Company's agriculture division develops and supplies a range of branded animal nutrition products into the livestock industries, as well as services the United Kingdom farming and rural communities through a network of retail stores and fuel businesses with manufacturing locations in the United States, United Kingdom and Europe. It is focused on the design and manufacture of pressure vessels and steel fabrications. more »

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Bloomsbury Publishing Plc is a global publisher. The Company is involved in the publication of books and other related services. The Company operates through four publishing divisions: Adult, Children's & Educational, Academic & Professional, and Information. These divisions derive their revenue from book publishing, sale of publishing and distribution rights, management and other publishing services. It specializes in the humanities and social sciences, and publishes over 1,000 books and digital services each year. The Company's digital products include Berg Fashion Library, Bloomsbury Collections, Bloomsbury Fashion Central, Churchill Archive and Drama Online. The Company's subsidiaries include A & C Black Limited, Bloomsbury Publishing Inc, Bloomsbury Information Limited, Bloomsbury Professional Limited, Bloomsbury Australia PTY Limited, The Continuum International Publishing Group Limited and Osprey Publishing Limited, among others. more »

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Alliance Pharma plc is a United Kingdom-based specialty pharmaceutical company. The Company is engaged in acquisition, marketing and distribution of pharmaceutical products. The Company operates in various business areas, such as Hydromol, secondary care, community and consumer products, established products and international. The Company's therapeutic areas of focus include cardiovascular, central nervous system, child health, consumer health, dermatology, endocrinology, gastroenterology, obstetrics and gynecology, oral health, oncology, stoma care, toxicology and travel health. The Company's product categories include prescription only medicines, over the counter medications, medical devices, cosmetics and nutritional supplements. The Company's products include SkinSafe, Lift Plus, AbsorbaGel, DeoGel, LaVera, ClearWay, Gelclair, ImmuCyst 81mg, Hydromol, MacuShield, Lypsyl, Anbesol Adult Strength Gel, MolluDab and Ashton & Parsons Infants' Powders. more »

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

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