Morning all!
Gear4Music ( £G4M ) – 215p – £45m – PER 28
Trading Update For The 13 Months To End March 2019 – Revenue up 36%, Customer numbers up 53%, Website conversion up from 3.25% to 3.4%. Casg at £5m (£3.5m last time). Margins impact with EBITDA to be no less than £2m.
There's loads of waffle in this update, too much for me to take in with limited time in the morning. Gut feel, I remain unconvinced here but will keep an eye out for revised Broker notes.
Hostelworld ( Hostelworld (LON:HSW) ) – 183p – £175m – PER 12
Results For The 12 Months To End December 2018 – Bookings flat, Revenue down, Operating Profit down, EPS down, Dividend dow. This years trading started in-line.
I am as attracted here today as I was yesterday.
Next Fifteen Communications ( Next Fifteen Communications (LON:NFC) ) – 561p – £469m – PER 15
Results For The 12 Months To End January 2019 – Adjusted Revenue up 14%, Adjusted PBT up 23%, Fully Adjusted EPS up 19%, Net Debt at £5.2m (£11.6m last time), Total Dividend is up 20%. Current trading in-line and confident of another significant increase in profitability this year.
These results look slightly ahead and previously I considered this fairly priced around 500p. I will keep an eye out for potential Broker upgrades here.
Taptica International ( Taptica International (LON:TAP) ) – 200p – £137.4m – PER 6.6
CEO, Trading Update & Buyback – CEO appointed, confirms Rhythm One (recent acquisition) trading below market expectations, Buyback program in place.
All sounds a bit fishy, I am still staying away from this for now.
TP ( TP (LON:TPG) ) – 6.2p – £47m – PER n/a
Results For The 12 Months To End December 2018 – Revenue ahead of forecast, up 40% from £27.9m to £39 and a break-even has been achieved after a -£1m Loss last time. Cash stands at £22.4, the Order book is up 16%.
Seems like sound steps being made here - Will keep an eye on the profitability here.
Wincanton…
