Morning All!
Lakehouse ( Lakehouse (LON:LAKE) ) – 36.5p – £57.5m – PER 8.30
Preliminary Results For The 12 Months To End September 2017 – Whoever wrote this update should be shot, what a mess. I think… Revenue is down 3% to £290.3m, there’s a Profit (not sure how much) versus a loss last year and the final dividend is a third of what it was last year.
I am going to pass on this one for now as I am not exactly clear on what is being communicated here.
Velocity Composites ( Velocity Composites (LON:VEL) ) – 120p – £43.0m – PER n/a
Maiden Results For The 12 Months To End October 2017 – In-line. Revenue up 46% to £21.4m (2016: £14.6m) with Underlying Operating Profit of £0.9m (2016: £0.3m) – In-line with expectations. There’s Cash of £5.4m. 75% of 2018 revenues on contract, with 85% visibility overall.
Not sure about this at all, looks OK but this is confusing - Underlying EPS increased to 2.39p but reported Loss Per Share is 2.47p. I have to remain Neutral here for now, need a little more research.
Scisys ( SCISYS (LON:SSY) ) – 123.75p – £36.3m – PER 10.8
Trading Update For The 12 Months To End December 2017 – “The Directors expect the Company's trading results will comfortably meet current market guidance, both in respect of revenues and adjusted operating profit”. The order book is at record levels and strong across all sectors, entering 2018 with positive momentum across all divisions.
Still quite like this but with that Net Debt (almost 30% of Mkt Cap) I reckon it’s probably fairly priced here.
Ideagen ( Ideagen (LON:IDEA) ) – 102.13p – £204.5m – PER 22.7
Unaudited Results For The 6 Months To End October 2017 – Revenue up 43% to £17.2m (£12.0m last time), Adjusted PBT up 56% to £4.1m (£2.6m last time) with Net Cash of £5.9m (£4.8m last time). Interim Dividend will be increased 15% (but it’s still less than 0.25% which is quite useless and pointless). Current trading remains robust and in line with management expectations.
Still quite like the look of this.…
