I Read The News Today Oh Boy! 21-Mar-2018

Wednesday, Mar 21 2018 by
18

Morning all!

Premier Technical Services ( Premier Technical Services (LON:PTSG) ) – 177p – £185.0m – PER 16.3

Results For The 12 Months To End December 2017 – “Another year of exceptional growth delivering record turnover and profits” - Revenue up 35% to £52.9m (2016: £39.2m), Adjusted PBT up 36% to £10.2m (2016: £7.5m), Adjusted EPS up 28% to 9.73p (2016: 7.63p) with the Final Dividend up by 14% to 0.80p (2016: 0.70p). This year has started well, further acquisitions being considered.

This was on my Watchlist at 180p awaiting these results, I will now consider a position this morning or else I will leave it on my Watchlist at 180p.

Ten Entertainment ( Ten Entertainment (LON:TEG) ) – 251p – £163.2m – PER 13.0

Results For The 12 Months To End December 2017 – Revenue up 5.5% to £71.0m (52 weeks vs 53 weeks, 8.9% over 53 weeks), Reported Profit After Tax up 43% to £5.2m (FY16: £3.6m). IPO exceptional costs of £3.1m, Adjusted EPS up 18% at 16.2p, Total FY Dividend of 10.0p. 2018 (11 weeks) started with LFL Revenue affected by weather, 1.7% up instead of 2.8%.

Just going to leave this on my Watchlist at 210p for now.

Xaar ( Xaar (LON:XAR) ) – 268p – £209.5m – PER 22.3

Results For The 12 Months To End December 2017 – Revenue up 4% in 2017 to £100.1m (2016: £96.2m) with Adjusted PBT £18.0m, down from £19.5m.

I don’t like the way these guys provide updates, hard for me to get to the bottom of them. That and the fact these results are uninspiring, I have no further interest here at present.

Centaur Media ( Centaur Media (LON:CAU) ) – 49p – £70.8m – PER 14.8

Results For The 12 Months To End December 2017 – Revenue down, Operating Profit and Margins down, Dividend flat.

Still not interested here.

Moss Bros ( Moss Bros (LON:MOSB) ) – 58.6p – £59.1m – PER 12.0

Trading Update For The 52 Weeks To 26 January 2018 – Ouch – 2019 Profit to…

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Xaar plc is engaged in the development of digital inkjet technology and manufacture of piezoelectric drop-on-demand industrial inkjet printheads. The Company's segments are product sales, commissions and fees, and royalties. It offers a range of industrial inkjet printheads and printhead systems, which are designed and produced to meet the customer-driven requirements of a range of manufacturing applications. Its primary markets include wide-format graphics, ceramic tiles, labels, packaging, coding and marking, three-dimensional (3D) printing, advanced manufacturing and decorative laminates. The Company sells its technology in component form (the printhead) to original equipment manufacturers (OEMs) producing and selling the complete digital printing solution to the end market. It partners and co-develops with fluid suppliers, hardware and software integrators, and substrate suppliers to deliver a total solution to the end user. more »

LSE Price
77.2p
Change
0.8%
Mkt Cap (£m)
59.9
P/E (fwd)
n/a
Yield (fwd)
n/a

Alpha FX Group PLC is a corporate foreign exchange (FX) broker with a focus on helping its clients to control the impact currency volatility has on their business. The Company operates Alpha FX. Alpha FX develop tailored hedging programmes that help businesses balance when, how much and how far forward to buy currency. Its Approaches include Passive Hedging, Active Hedging, Hedge Accounting, Dispute Resolution and Key Features. Passive Hedging Strategies are focused on protecting businesses from the unpredictable nature of currency markets in order to provide a predetermined level of financial stability. Active Hedging Strategies provide the protection and stability of a passive strategy. Hedge Accounting helps businesses, who are susceptible to volatility in their Profit and Loss over their reporting period. Dispute Resolution provides a resolution to mis-sold FX options. Key Features include technical analysis, hedging facilities, settlement, reporting and pricing. more »

LSE Price
800p
Change
 
Mkt Cap (£m)
297
P/E (fwd)
n/a
Yield (fwd)
n/a

Centaur Media PLC is a United Kingdom-based company that provides business information and specialist consultancy. The Company’s divisions include Xeim and The Lawyer. The Xeim division operates various brands including Econsultancy, Marketing Week, Festival of Marketing, MarketMakers, Creative Review, Influencer Intelligence, Fashion & Beauty Monitor and Oystercatchers. The Lawyer division includes market reports, research services, events and training. more »

LSE Price
48p
Change
 
Mkt Cap (£m)
69.3
P/E (fwd)
17.7
Yield (fwd)
6.3



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


5 Posts on this Thread show/hide all

MrContrarian 21st Mar '18 1 of 5
4

My morning smallcap tweet:

Imaginatik (LON:IMTK), Science in Sport (LON:SIS), Moss Bros (LON:MOSB), Mothercare (LON:MTC), Personal Group (LON:PGH)

Imaginatik (IMTK) sale of co proceeding - "detailed discussions with certain parties about the sale of the Company, with the aim of announcing the outcome of the process by the end of May."
Science In Sport (SIS) FY in line: rev up 28%, pretax -£3.9m (-£2.8m). Outlook "Year has started well...We continue to invest heavily in brand awareness* in all markets, as well as aggressively building our e-commerce consumer database and seeking to improve conversion and loyalty." *This used to be called advertising. Cenkos F/C loss to inc. this FY. Will they ever make money? Also a separate RNS to trumpet "Olympic Champion Adam Peaty Becomes SIS Ambassador." He's a swimmer. Need to step away from the bicycles after all that unpleasantness.
Moss Bros Group (MOSB) Not even 2 month into FY brings a warning that 2019 profit will be materially lower than current market expectations. Blames shortage of stock after consolidation of the Group's supplier base in response to Sterling weakness. Also those bloody customers are hiring and buying less. "The reduction in store footfall that was experienced towards the latter part of December, has continued."
Mothercare (MTC) discussions with lenders progressing constructively. Covenant tests deferred, preliminary discussions on securing additional financing "to support and maintain the momentum of our transformation programme." Er, because you will breach covenants surely? I'm short.
Personal Group (PGH) FY EBITDA £10.8m marginally ahead of market expectations. EPS-cont 26.1 (29.7). Div hiked 3% to 22.7p.
Carpetshite (CPR) Shareholder loan £12.5m till end August. £1.9m fee! So only a £10.6m loan. Sham headline int rate of 3%. Planning CVA and equity raise of £40m-£60m. APR 45% if you factor in arrangement fee.

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daveinthelakes 21st Mar '18 2 of 5
1

Thanks Matylda.

First time I have seen Premier Technical Services (LON:PTSG) and they look very interesting. My main concern is the level of debt

"Net debt at 31 December 2017 increased to £18.3m (2016: £13.6m) following payments of £2.3m of cash in relation to acquisition of businesses. The Group's working capital position has necessarily increased due to the very substantial increased scale of the Group's activities at the period end."

Receivables are up to £32M, which is huge for a company with revenue of £53M. Not checked the interest rate but they appear to continually run a large overdraft whereas presumably a term loan would be cheaper?

Any thoughts on the debt ?

Dave

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pgs501 21st Mar '18 3 of 5
1

MrContrarian I love your new name for Carpetright (LON:CPR).

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matylda 21st Mar '18 4 of 5
1

In reply to post #342823

You're welcome.

The receivables are much more of a concern than the debt. Generally I quite like this but something does not seem quite right which is making me stay away at present having seen negative price action this morning.

Thanks for taking the time to provide a view.

Blog: Briefed Up
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aflash 21st Mar '18 5 of 5

matylda,

Compare AFX (Alpha FX) with REC (Record). Same sector.

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