I Read The News Today Oh Boy! 19-Oct-2018

Friday, Oct 19 2018 by
14

Morning all!

Record ( Record (LON:REC) ) – 35.35p – £70.4m – PER 13.3

Q2 Trading Update – AUME down 0.2% but no mention of in-line, etc.

I said I would stop looking at this company as it’s already on my Avoid list – It’s just too tough to gauge value (or not) here (for me) so I will now cease coverage and concentrate on stocks I understand a little more (or more appropriate, ones which are a little more understandable to me).

Pendragon ( Pendragon (LON:PDG) ) – 26.35p – £369.9m – PER 7.01

Trading Update – UK New Car market data for September showed a decline of 20% in new car registrations and a similar trend has continued in October which has caused significant new vehicle supply disruption - Gives cause for concern over the coming months for new vehicle sales and profitability. Continuing to invest in Used Cars and expects underlying PBT for 2018 to be £50m.

I estimate the above to be about a 10% - 15% miss and will remain Neutral here and on the sector in general for now.

As always, all comment most welcome!

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Record plc (Record) is a United Kingdom-based company, which is engaged in the provision of currency management services. The Company's suite of products is divided in two categories: Currency Hedging and Currency for Return products. It also offers solutions to individual client requirements. Its Currency Hedging mandates are primarily risk reducing in nature. Its suite of Hedging products includes Passive Hedging and Dynamic Hedging. Its Currency for Return mandates are return seeking in nature. The range includes five Currency for Return strategies being Active Forward Rate Bias (FRB), FRB Index, Emerging Market, Momentum and Value, and these strategies can be offered in either a segregated or pooled fund structure. The Company's clients are institutions, including pension funds, charities, foundations, endowments, and family offices, as well as other fund managers and corporate clients. It operates in the United Kingdom, North America and Continental Europe, including Switzerland. more »

LSE Price
31.4p
Change
0.8%
Mkt Cap (£m)
62.5
P/E (fwd)
12.9
Yield (fwd)
7.5

Pendragon PLC is an automotive online retailer. The Company's principal market activities are the retailing of used and new vehicles and the service and repair of vehicles (aftersales). Its segments are Stratstone, which consists of its vehicles, truck and commercial vans brand, including the sale of new and used motor cars, motorbikes, trucks and vans, together with associated aftersales activities; Evans Halshaw, which consists of its volume brand, including the sale of new and used motor vehicles and commercial vans; US Motor Group, which consists of its retail operations in California in the United States, including the sale of new and used motor cars; Pinewood, which consists of its activities as a dealer management systems provider; Leasing, which consists of its contract hire and leasing activities; Quickco, which consists of its wholesale parts distribution businesses, and Central, which represents its head office function and includes all central activities. more »

LSE Price
10.9p
Change
4.4%
Mkt Cap (£m)
152.3
P/E (fwd)
11.0
Yield (fwd)
10.8



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


1 Post on this Thread show/hide all

MrContrarian 19th Oct '18 1 of 1
4

My morning smallcap tweet: Yet another CYAN shareholder shakedown.

Cyanconnode Holdings (LON:CYAN), PCI- PAL (LON:PCIP), Webis Holding (LON:WEB), Akers Biosciences Inc (LON:AKR), Futura Medical (LON:FUM)

CyanConnode (CYAN) Yet another big discount placing. £5.1m for instos, £0.5m for hoipolloi. 18% disc at 10p, 99.8% below 2005's IPO.
PCI-PAL (PCIP) wins five-year contract from new Canadian client, worth an initial CAD$280k.
Webis Holdings (WEB) blow as a commercial dispute with US syndicate forces end of service. Guides reduction in gross margin for FY19 $0.8m.
Akers Biosciences (AKR) another skittle falls as interim Non-Executive Chairman scarpers.
Futura Medical (FUM) raised £5.6m via PrimaryBid at 27.5% discount. Open offer at 7p.

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