I Read The News Today Oh Boy! 25-Jan-2018

Thursday, Jan 25 2018 by

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).…

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Cpl Resources plc is a holding company. The Company's primary activity is recruitment. It operates through the segments, which include Recruitment and placement of temporary staff, and Permanent placement of candidates. It is an Irish employment services organization, specializing in the placement of candidates in permanent, temporary and contract positions and the provision of human resources consultancy services. Its geographical segments include Ireland, the United Kingdom and Rest of the World. It operates through various brands in a range of sectors, including technology, finance and legal, healthcare, pharmaceutical, life science, human resources, light industrial and office administration. Its service offerings include contact center outsourcing, recruitment process outsourcing (RPO), and human resources consulting services, including outplacement. It recruits across various sectors, including medical device, electronics, fast moving consumer goods and general manufacturing. more »

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ITE Group plc is engaged in the organization of international trade exhibitions and conferences. The Company's geographical segments include Russia, Central Asia, Eastern and Southern Europe, Asia and Rest of the World. The Company specializes in producing exhibitions and conferences that advance business and economic development by connecting buyers and suppliers from around the world. Its events are a platform for commercial growth for a range of business opportunities, and for providing market knowledge and industry information. In addition to event programs, the Company provides a digital platform and product directory to connect professionals in the building and interiors sector called WorldBuild365 (www.worldbuild365.com). Its products range from specialist conferences to trade fairs. It offers services to sectors, such as food, drink and hospitality; travel and tourism; engineering and industrial; transport and logistics; security and protection, and healthcare and medical. more »

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MySale Group plc is engaged in operating online shopping outlets for consumer goods, such as women, men and children's fashion clothing, accessories, beauty and homeware items. The Company's segments include Australia and New Zealand, South-East Asia and Rest of the world. It operates with flash sales Websites in Australia and New Zealand (ANZ), South-East Asia (SEA) and the United Kingdom. Its Websites host time limited flash sales in each of its territories. These flash sales are focused on fashion, apparel, health, beauty and homeware categories and are undertaken on a consignment inventory basis. Its retail Websites also focuses on these product categories using drop-shipped inventory. Its flash sales brands include OzSale and BuyInvite in Australia, NzSale in New Zealand, SingSale in Singapore, and MySale in Australia, New Zealand, Malaysia, Thailand, the Philippines, the United Kingdom and Hong Kong. more »

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

3 Posts on this Thread show/hide all

MrContrarian 25th Jan '18 1 of 3

Stockopedia post
My morning smallcap tweet:

Vertu Motors (LON:VTU), Minds + Machines (LON:MMX), Haynes Publishing (LON:HYNS), North Midland Construction (LON:NMD), MySale (LON:MYSL)

Vertu Motors (VTU) guides FY moderately below current market expectations, following further declines in the new car market resulting from the depreciation of sterling and a softer general consumer environment. Rev down 2.4%, LFL flat. I hold.
Mind+Machines (MMX) expects FY EBITDA slightly ahead of market expectations, with profit being further boosted by $2.1m through monies received by the Company from two contested TLD auctions.
Haynes Publishing (HYNS) board plays musical chairs. Doesn't look worrying.
North Midland Constuction (NMD) guides FY rev in line but profit miss. H1 only B/E, "following on from a review started in the previous year of the potential outcome of all work in progress and, in particular, the legacy contractual dispute." However U/L profit significantly ahead of 2016. Expect no hit from Carillon failure.
MySale (MYSL) guides FY rev up 11%, underlying EBITDA at least at the top end of market expectations. ''We have made a great start to the year."

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Effortless Cool 26th Jan '18 2 of 3


My preferred pick in the motor retail sector is Cambria Automobiles (LON:CAMB) (although I also like Vertu Motors (LON:VTU) ). US hedge fund manager Alex Bossert recently presented what I consider a compelling buy thesis for Cambria Automobiles (LON:CAMB), linked below.


Try not to be put off by the fact that he speaks like a robot and mispronounces just about every proper noun he is faced with.

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matylda 26th Jan '18 3 of 3

In reply to post #304958

Thank you for that, most interesting (except the tone as you say) - Probably worth picking up a few of both. Wonder why the US is so differently priced to the UK. I don't think he mentions that the US could be out of line and it should be priced the same as the UK, not vice versa.

Thanks again.

Blog: Briefed Up
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