I Read The News Today Oh Boy! 21-Aug-2017

Monday, Aug 21 2017 by
24

Morning all – Hope you had a great weekend.

Avingtrans (AVG)Expected some, but could not find any news this morning - Anyway, here’s some notes I made... Call me old fashioned but when I see Revenues/Profits that look like this 2014 £60m/£2.91, 2015 £22.6m/£1.77m, 2016 £21.2m/£31.1m I just think – What?  Just can’t bring myself to look into things like this any further, I much prefer companies with steady figures which are a little more simple and predictable than this.

Cyanconnode Holdings (CYAN)Expected some, but could not find any news this morning - Anyway, here’s some notes I made... A Highly Speculative Sucker Stock with a Stock Rank of 4. This is a loss making Aim listed technology company – Ten a penny, I’ll wait until it at least shows a profit before showing any interest.

Gfinity (GFIN)Formula 1 Partnership – Can't help but notice that this loss making provider and broadcaster of e-Sports competitions keeps making interesting announcements. Against many of my rules - Even tempted here myself to take a small speculative position as it does seem the interest in online gaming (watching it - How sad!) is increasing.

Global Ports Holding (GPH)Half Year Report – This report from the world's largest independent cruise port operator seems a little mixed to me. LFL Passenger/Cargo up, Revenue down and a Loss not a Profit (“Loss after tax for the period was USD 6.7m (H1 2016: Profit after tax for the period: USD 0.4m) which included USD 15.1m amortisation expense in relation to Port Operation Rights”). I think if I was a holder, on a PER of 17 and Debt 50% of Mkt Cap (it's ROCE is consistently less than 3.5%) - I would be a little concerned here.

Headlam (HEAD)Interim Results To End June 2017 - Europe's largest distributor of floor coverings provides a half decent update here.  Revenue up 2.6% CC, Profit up 11.4% and Interim dividend up 11%.  On a PER of 13.8 this is probably fairly priced around these levels.  With a Stock Rank of 95, a decent cash pile and a well covered 4% yield it could be of interest to income seekers.

NWF (NWF)Expected some, but could not…

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Avingtrans plc is a United Kingdom-based company, which is principally engaged in the provision of engineered components, systems and services to the energy, medical and traffic management industries around the world. The Company operates in energy and medical segment. The energy and medical segment is engaged in the designing and manufacturing of machined and fabricated pressure and vacuum vessels and process plant and equipment for the power, oil and gas and medical markets. The energy and medical segment is also engaged in the designing and manufacturing of fabricated poles and cabinets for roadside safety cameras and rail track signaling. The Company's geographical locations include the United Kingdom, Europe, North America and Rest of World. The Company's subsidiaries include Crown UK Limited, Stainless Metalcraft (Chatteris) Limited, Composite Products Ltd, Hayward Tyler Ltd and Peter Brotherhood Ltd. more »

LSE Price
239.49p
Change
0.4%
Mkt Cap (£m)
74.8
P/E (fwd)
15.8
Yield (fwd)
1.7

CyanConnode Holdings plc, formerly Cyan Holdings plc, is engaged in the design and development of narrowband radio frequency (RF) mesh networks that enable Omni Internet of Things (IoT) communications. The Company offers a range of support services, from design-in consultancy to training and technical advice. The Company offers solutions, including Ultimesh, which provides a complete network solution optimized for exceptional performance and return on investment; Panmesh, which is an Internet Protocol version 6 (IPv6)-based wireless neighborhood area network (NAN) solution that interfaces with other networks and applications, and Omnimesh, which is the narrowband RF mesh networking solution that allows the integration of its own solutions, as well as third-party applications. The Company, through its subsidiaries, is engaged in providing wireless communication technology for smart metering, lighting and the IoT. The Company operates through the brand CyanConnode. more »

LSE Price
4.98p
Change
-1.4%
Mkt Cap (£m)
9.2
P/E (fwd)
n/a
Yield (fwd)
n/a

Gfinity plc is a United Kingdom-based company, which is engaged in e-sports business. The Company is a provider and broadcaster of e-Sports competitions; both off-line events typically staged from the United Kingdom's e-Sports arena in Fulham, London and online events hosted on Gfinity.net. It is a provider of complete end-to-end e-Sports solutions, including the bespoke Tournament Builder Application, which is for Xbox One users, allowing e-Sports users to create and manage their own e-Sports competitions; Gfinity TV, which is the Company's own online television Player, giving the viewers control over their viewing experience, and Gfinity Tournament Client for personal computers (PC), which provides anti-cheat technology and also provides matchmaking and tournament entry for users. It hosts live tournaments. The Company operates a Website where subscribers gain access to information on the video games, watch streamed videos of competitions and themselves compete. more »

LSE Price
4.6p
Change
3.3%
Mkt Cap (£m)
16.1
P/E (fwd)
n/a
Yield (fwd)
n/a



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


7 Posts on this Thread show/hide all

iwright7 21st Aug '17 1 of 7
3

Re Spectra Systems (LON:SPSY)

Thanks for flagging SPSY trading update (which I had neglected in my RNS read though). I have just done some quick research and brought a small position. My buying notes: 

Microcap with “significantly exceed expectations” trading update. Phosphor sales and GM% from new factory are significantly higher. Greater recurring revenue and  looks like an improving/transformational situation. Strong balance sheet with Alt score of 13 and F8.  Microcap with 5% spread and 5% Divi. Interim 5th Sept so not long to wait for greater clarity.  Ian

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Ramridge 21st Aug '17 2 of 7
3

Re. Spectra Systems (LON:SPSY) - I thought this one would fly following the update this morning. Was poised to buy first thing, but the sp had already moved to +20% . It is +27% up as I write.
I think I will wait for the frenzy to die down and see where it lands this p.m.
It ticks lots of boxes on my analysis sheet.

BTW, matylda, please continue with the sterling work!

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underscored 21st Aug '17 3 of 7

Frontier Developments (LON:FDEV) - licence for a Jurassic park game released next year...

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matylda 21st Aug '17 4 of 7

In reply to post #210228

When this rises it does usually see a 10% pullback soon after - This is a rather upbeat statement so not sure we will see that this time. I am looking forward to the SCVR coverage by Graham who has MUCH more corporate and accounting knowledge than I can ever even wish for. E.g. Dual listing and PBTA?

GPH - Ouch, hope not too many were holding that - Does seem that a few more companies are coming out at or below expectations recently than exceeding!

Blog: Briefed Up
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Aislabie 21st Aug '17 5 of 7
2

I took a speculative GFIN position a short while ago. It can seem a bit odd that people enjoy watching eSports, but I have seen the fanaticism and the commitment, especially in South Korea where there are television channels that only show eSports. For the viewer's own activity it may not matter whether they are slumped in front of a screen watching Wimbledon or slumped in front of a screen watching esports!
If there is to be a UK following then Gfinity appears to be the leader

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FREng 21st Aug '17 6 of 7
1

Re Spectra Systems (LON:SPSC) and Spectra Systems (LON:SPSY)

The two tickers are for the restricted and unrestricted shares. They get the same dividend, so far as I know.

Here's an "explanation" from ADFN:

Spectra Systems Corporation has two lines of Common Shares which trade on AIM, Restricted (SPSC) and Unrestricted (SPSY), and the aggregate market capitalisation of the Company is £9.89 million. these shares are now common stock available to trade. Only 691k left so another part of the tidy up will soon be completed.It has no bearing on the m'cap of SPSY as far as i'm aware. Here's an old piece of news.

Shares Not in Public Hands In the terms of the AIM Rules published February 2010 and insofar as it is aware, at 10 December 2013, 12.69% of the Company’s AIM securities were not in public hands. Restrictions on Transfer of AIM Securities 4,640,894 Ordinary Shares (AIM:SPSC) trade with the following restriction: The newly issued common shares, $.01 par value per share, of the Company ("Common Shares") which were issued pursuant to an exemption from registration under Regulation S promulgated under the US Securities Act of 1933 (the "US Securities Act") and certain previously issued Common Shares which were issued pursuant to an alternative exemption from registration promulgated under the US Securities Act are restricted securities as defined in Rule 144 of the US Securities Act and may not be offered, sold or otherwise transferred except pursuant to an effective registration statement or pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the US Securities Act. The remaining 40,610,476 Ordinary Shares (AIM:SPSY) trade without transfer restrictions.

Spectra Systems (LON:SPSC) seems to be freely tradeable on AIM, so I don't understand the restriction. Anyone have a clear explanation?

Info from the RNS of 5 May 2017...

Accordingly the Company will apply for 32,002 Shares to be admitted to trading on AIM and it is anticipated that trading in such shares will commence on 11 May 2017 ("Admission").

Following Admission the Company's issued share capital will comprise:

585,818 shares in the Regulation S stock line ISIN number USU8457D1091 (AIM:SPSC);

and

44,811,913 shares in the Unrestricted line ISIN number US84756T1060 (AIM:SPSY).

If the company gets round to simplifying the share structure, perhaps the price of Spectra Systems (LON:SPSC) will go up to match Spectra Systems (LON:SPSY) as they buy back the shares in the market and cancel them, or make a tender offer. Meanwhile, the yield on SPSC is 8.83% versus 6.67% for SPSY.

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Asagi 21st Aug '17 7 of 7

I will add TBC Banking Group TBC Bank (LON:TBCG) half-year results:
https://www.investegate.co.uk/tbc-bank-group-plc--tbcg-/rns/half-year-report/201708210700044729O/

Outlook

The favorable macroeconomic conditions combined with our leading positions in the market lay a strong foundation for our future growth prospects. Thus, we would like to reiterate our targets: ROE above 20%, cost to income ratio below 40%, dividend pay-out ratio at 25-35% and loan book growth at c.15% and tier 1 capital adequacy ratio around 10.5%.


according to Stockopedia we have a 2017 P/E of 7.2, forecast yield of 3.6%, PEG of 0.67 and price:tangible book of 1.6.

The market cap is £826m and the bank is a member of the FTSE 250.

Revenues at Avingtrans (LON:AVG) have fallen so significantly due to a disposal.

Asagi (long TBCG, no position AVG)

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