I Read The News Today Oh Boy! 2-Apr-2019

Tuesday, Apr 02 2019 by

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.


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Gear4music (Holdings) plc is engaged in the online retailing of musical instruments and equipment. The Company sells its own-brand musical instruments and music equipment alongside with other brands. The Company offers over 1,500 products, which are sold under approximately eight brands, including Gear4music; Archer, which offers string instruments, such as violins, cellos, violas and double bass; Redsub, which offers bass guitar amplifiers and pedals; SubZero, which offers guitars, amplifiers, mixers, speakers and audio electronics; Minster, which offers digital pianos; Rosedale, which offers woodwind instruments, such as clarinets, flutes, oboes and piccolos, and Brass Instruments, which offers trumpets, trombones, tubas and French horns. The Company has developed its own e-commerce platform, with multilingual, multicurrency and responsive design Websites covering approximately 19 countries. more »

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Hostelworld Group plc is an Ireland-based company, which provides hostel-focused online booking platform. The Company operates through over 20 different languages by connecting young travelers with hostels around the world through its brand Hostelworld and supporting brands Hostelbookers and Hostels.com. The Company, through its subsidiaries, provides software and data processing services that facilitate hostel, hotel and other accommodation across the world, including ancillary online advertising revenue. The Company focuses on hostels, which maintains a global hostel database with over 13,000 hostels and approximately 22,000 other forms of budget accommodation available across the world. The Company builds a progressive internal training policy that includes ongoing skills training, personal development training plans and management development. The Company has over eight million reviews across approximately 33,000 properties in over 170 countries. more »

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Next Fifteen Communications Group plc is engaged in the communications business. The Company consists of approximately 20 subsidiary agencies, spanning digital content, marketing, public relation (PR), consumer, technology, marketing software, market research, public affairs and policy communications. Of the Company’s businesses, five are independent communications brands, with three specializing in the technology sector (Bite, Text 100 and The OutCast Agency) and two in the consumer space (Lexis and M Booth). The Company’s three agencies focuses on digital (Beyond, bDA and Connections Media), a business to business (B2B) marketing agency (Twogether), a programmatic advertising technology business (Encore), a market research company (Morar), a digital content marketing agency (Story), a policy communications firm (Vrge), a creative agency (ODD London), a B2B technical marketing communications agency (Publitek) and an investor relations consultancy (The Blueshirt Group). more »

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  Is LON:G4M fundamentally strong or weak? Find out More »

4 Posts on this Thread show/hide all

MrContrarian 2nd Apr 1 of 4

My morning smallcap tweet: Gear4music still in low ratio.

Bonmarche Holdings (LON:BON), £G4M, Intercede (LON:IGP), Kingswood Holdings (LON:KWG), Eden Research (LON:EDEN), £D4T4, Taptica International (LON:TAP)

Bonmarch (BON) mandatory cash offer at 11.445p by Spectre Holdings (a Philip Day. vehicle) which has just bought 52%. Offer is a 36% discount.
Gear4music (G4M) warns again, guides FY (13 months) EBITDA >=£2m. Prev guidance 'slightly below' FY18 (£3.5m). Blames additional distribution costs, short-term courier cost inflation and a clean-up of overstocked and slower moving inventory. FY rev up 36%
Intercede Group (IGP) guides FY rev at least £10m, above mkt expectation due to last minute $4.3m order. $2.05m recognised in the FY. I hold.
Kingswood Holdings (KWG) guides FY revenue and gross profit margin broadly in line with expectations, adjusted and reported pretax below previous expectations. Blames additional investment expenditure incurred across the Group to restructure and strengthen the Kingswood platform.
Eden Research (EDEN) FY rev £2.8m in line with prev guidance. Pretax -£0.5m much better than -£1m guided. Going concern stmt.
D4T4 Solutions (D4T4) CFO resigns, will work 3 month notice. She is thanked. I'm short.
Taptica (TAP) Following completion of the acquisition of RhythmOne, RhythmOne's FY trading was below market expectations. "still strongly believe that, taking into account RhythmOne's trading performance to date, the merger is in the best interest of the shareholders of Taptica." Will buy back up to $15m. I hold.

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Beginner 2nd Apr 2 of 4

Belvoir Lettings (LON:BLV) may be of interest to income seekers. EPS up 10% on the back of both acquisitions and some organic growth. Revenue up 20%. Yield is c6% and covered. Rated a 'super stock'. (The spread is horrendous, mind)

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andrea34l 2nd Apr 3 of 4

I'm happy to continue holding TP (LON:TPG) on these results.

I wouldn't invest in YouGov (LON:YOU) on moral grounds on the way it treats people who take part in their surveys

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matylda 2nd Apr 4 of 4

In reply to post #464611

I have joined you today with a TP (LON:TPG) purchase, I see potential for 50%+ 2 year upside if forecast EPS are met (as per Cenkos note today).

Blog: Briefed Up
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