I Read The News Today Oh Boy! 18-Oct-2018

18th Oct '18 by matylda

3 comments 1987 reads

Morning all!

Tatton Asset Management ( Tatton Asset Management (LON:TAM) ) – 267p – £149.3m – PER 21.2

Trading Update For The 6 Months To End September 2018 – AUM up 16.3% and trading in-line with the Board’s FY expectations.

First coverage for me and actually popped up on my Technical screen a month or so ago. Looks interesting enough although perhaps fairly priced here. If I did not already own Miton ( Miton (LON:MGR) ) I may be more interested, for now it will go on my Watchlist.

Zytronic ( Zytronic (LON:ZYT) ) – 425p – £68.2m – PER 13.4

Trading Update For The 6 Months To End September 2018 – FY Revenues in-line, PBT (£4.2m - £4.5m) below market expectations.

Not sure how much of a miss this is, looks like it could be about 20% - Anyway, it’s enough for me to remain Neutral for now.

As always, all comment most welcome!

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MrContrarian

18th Oct '18

My morning smallcap tweet: ZYT pops out a warning.

Peel Hotels (LON:PHO), Applied Graphene Materials (LON:AGM), Zytronic (LON:ZYT), Imaginatik (LON:IMTK)

Peel Hotels (PHO) H1 grim. Rev down 6%, pretax slumps to virtually nil. "The comparative shortfall in EBITDA in the first three periods will be difficult to make up by the end of the financial year however sales have now stabilised and for the first time in many periods increased in the current period." Bank still not intending to act on covenant breach disclosed in April.
Applied Graphene (AGM) FY loss reduced but "Although both JBL and Airbus are now reaching the point of commercial inflection the completion of the testing regime required to meet customer expectations has taken longer than originally expected, and consequently the ramp-up in sales is likely to be later than previously anticipated."
Zytronic (ZYT) warns on FY. Rev in line but the introduction of some new designs and production techniques has hit margins.Add in defending a patent claim and pretax is only £4.2m, below F/C. I can't find the F/C.
Imaginatik (IMTK) has selected a replacement nomad (finnCap resigned) which is currently finalising due diligence. Trading in line. Remains suspended.

Albertos

Zytronic (LON:ZYT)

Forecast (N Singer) £5.2M PBT - seems to be a 20% miss. Statement would also suggest a slow start to 2019 so I suspect their forecast of £6.0M for 2019 will be reduced.

Phil

andrea34

SDX Energy Inc (LON:SDX) announces that, further to the announcement made on 20 September 2018, discussions regarding its proposed acquisition of a significant package of assets in Egypt from BP have been terminated by mutual agreement. I'd say this is a bit disappointing :-(

Games Workshop (LON:GAW) says that "trading to 7 October 2018 has continued well. Compared to the same period in the prior year, sales are ahead and profits are at a similar level to the prior year.However, the Board remains aware that there are some uncertainties in the trading periods ahead..."It looks like the glowing updates are coming to an end; shares are down 5%.

Maybe it's just me... but there seem to be slowing updates from some companies that are a bit of a surprise to me. Renishaw (LON:RSW) is another one... and I realise that they are probably too big for some/many to consider on here, but their last results looked very good and yet Q1 of the current year looks very poor.

I Read The News Today Oh Boy! 18-Oct-2018

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Matylda

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