Morning All!
Rather quiet out there, as one would expect coming up to the festive period.
Filtronic ( Filtronic (LON:FTC) ) – 10.92p – £22.6m – PER 8.34
Trading Update For The 6 Months To End November 2017 – Expected Revenue of £12.8m (FY2017: £21.6m) and unaudited operating profit of approximately £0.9m (FY2017: £1.8m) - Broadly in line with “our expectations”. A slightly slower than expected ramp from recently announced defence contract wins which has pushed the first volume deliveries out of H1 and into H2. Sales are expected to continue to be lumpy.
I quite like the fundamentals here but do not like the sound of this update. Don’t like delays from H1 to H2 or the term “lumpy”.
Redde ( Redde (LON:REDD) ) – 166.75p – £506.9m – PER 14.1
Trading Update – “Sales continue to show an increase over the corresponding period last year reflecting continued growth in trading volumes and as a consequence, trading profits are ahead of the corresponding period last year.”
This has been ranging between 140p and 200p for a couple of years. Fundamentals seem OK and this is a positive enough update. Going to adjust my view here - It’s going on my Watchlist around that 140p level.
Have a great week!
