Morning all!
City Pub ( £CPC ) – 218p – £130m – PER 23
Interim Results For The 6 Months To End June 2019 – Revenue up 36% (LFL 2.6%), Adjusted PBT up 19%. Seems cautious about further expansion at present, concentrating on existing estate.
Still reckon about 200p is a fair price here especially considering this downbeat update.
Gateley ( £GTLY ) – 166p – £185m – PER 12
AGM Statement – Good start to the year has continued.
Still looks like value here given that 5%+ yield but still, not enough for me to get involved.
Tungsten ( £TUNG ) – 44p – £56m – PER 140
Q1 Trading Update – Revenue up 2% (CC), there’s a Profit and FY is unchanged.
Looks better but I still reckon it’s a case of needing to see the FY actuals here before taking any further action.
Wilmington ( £WIL ) – 201p – £176m – PER 11
Results For The 12 Months To End June 2019 – Revenue up 1%, Adjusted EPS down -11.9%, FY Dividend up 3%. First 2 months of the new year in-line.
Taking into account the forecast growth and yield looks about fairly priced here.
As always, all comment most welcome!
