Morning All!
So late – So much to get through, I am sure there’s more than 10 updates below…
CPL Resources ( CPL Resources (LON:CPS) ) – 535p – £148.9m – PER 10.1
Results For The 6 Months To End December 2017 – Nice all round increases, 12% increase in Revenue to €256.7m, PBT of €9.0m (up 11%) and EPS up 15% to 26.4c. The Interim Dividend is up 10% to 6.35c per share. Recent tender offer also seen the share capital reduced by about 12%.
Fundamentally there’s a lot to like here. My misgivings are I am not too keen on the outlook for the sector at present (just a little too much uncertainty) and secondly, I am not so sure these latest figures (based on a quick comparison with Stockopedia) are a bit of a miss (a small one though) but I cannot find any reference to in-line or expectations.
ITE Group ( ITE (LON:ITE) ) – 179p – £482.0m – PER 20.0
Trading Update For The 12 Months To End December 2017 – In-line with £113m in Revenue booked for 2018 (£99m last year) which is 70% of market expectations for the full year. Net Debt is £circa £52m. The board is pleased with performance to date.
Just not enough to get me interested here.
MySale ( MySale (LON:MYSL) ) – 109p – £168.2m – PER 123.6
Trading Update For The 6 Months To End December 2017 – A record H1. Revenue up 11% to c. A$152.0m and Gross Profit up 19% to c. A$45.7m. Gross Margin increased 200 bps to 30.1%. Board expects underlying EBITDA for the year will be at least at the top end of market expectations.
One I will keep an eye on but at this valuation I won’t be taking part.
Frontier Smart Technologies ( Frontier Smart Technologies (LON:FST) ) – 183p – £74.2m – PER
Trading Update For The 12 Months To End December 2017 – Revenue up circa 28% at circa £41.2m (FY 2016: £32.1m) and underlying EBITDA is anticipated to be circa £1.9m (FY 2016: £0.7m). Net Cash of £2.9m (FY 2016: £0.7m).…
