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

Wednesday, Jul 25 2018 by
14

Morning all!

Joules ( Joules (LON:JOUL) ) – 346p – £297.5m – PER 24.7

Results For The 12 Months To The 27th May 2018 – Revenue up 18.4% to £185.9m, Underlying PBT up 28.5% to £13.0m and Basic Underlying EPS up 28.5% to 11.8p.

This was on my Watchlist at 280p and I will leave it there for now in order to keep an eye on it. Results like this though, on a PER of 24.7, may even see me paying up here.

Idox ( Idox (LON:IDOX) ) – 35.8p – £148.5m – PER 11.0

Results For The 6 Months To End April 2018 – Bad results (consistent with the May 2018 Trading Update).

This is going on my Avoid list for now.

Quartix Holdings ( Quartix Holdings (LON:QTX) ) – 367p – £176.5m – PER 21.5

Interim Results For The 6 Months To End June 2018 – Revenue up 7% and in-line to meet FY expectations.

I remain on the side-lines here, still a little baffled why people are paying up here on a PER of 20 (perhaps I have missed something).

Staffline ( Staffline (LON:STAF) ) – 1052p – £299.6m – PER 9.09

Interim Results For The 6 Months To End June 2018 – Revenue up 12% with Underlying PBT down 6.8% and Underlying Diluted EPS down 5.8%. Expecting to meet 2018 expectations.

I remain Neutral here.

Empresaria ( Empresaria (LON:EMR) ) – 79p – £36.5m – PER 5.80

Trading Update – In-line to meet FY market expectations.

This doesn’t look too bad on a PER <6 but I still can’t get excited enough – I remain on the side-lines.

Norcros ( Norcros (LON:NXR) ) – 215p – £171.8m – PER 6.68

AGM Trading Statement – Q1 In-line and FY in-line too.

Still quite like this but I remain Neutral for now.

Vertu Motors ( Vertu Motors (LON:VTU) ) – 50.7p – £187.4m – PER 8.88

AGM Statement – Four month period to end June 2018 in-line and expects FY to be in-line too.

Not sure we will see anything more than pedestrian growth here in the short to medium term – I remain Neutral for now.

Medica ( Medica (LON:MGP) ) – 116p – £128.9m – PER 14.0

Trading Update For The 6 Months To End June 2018 – Recruitment momentum continued during H1 2018, FY to be in-line with market expectations.

I hold here and was getting a little nervous – Will see how the market reacts here, hopefully this will provide some support.

Alliance Pharma ( Alliance Pharma (LON:APH) ) – 94p – £483.4m – PER 19.2

Trading Update For The 6 Months To End June 2018 – FY Revenue and Underlying PBT to be in-line with expectations.

Was on my Watchlist at 60p and missed the boat somewhat – At present on a PER of almost 20 I am not so attracted here, Neutral for now.

STM ( STM (LON:STM) ) – 58.5p – £34.4m – PER 9.18

Trading Update For H1 2018 – In-line.

Seeking a new Group Internal Auditor and a COO to allow the current CEO (who I believe is Mr. Kentish and is being investigated for money laundering), also in the final stages of adding a new Chairman and Non-Exec Director – This remains on my Avoid list whilst the musical chairs continues.

Van Elle Holdings ( Van Elle Holdings (LON:VANL) ) – 82p – £65.6m – PER 6.92

Preliminary Results For The 12 Months To End April 2018 – Looks about in-line (not so great) and H1 this year has been challenging.

I remain Neutral.

As always, all comment most welcome


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Joules Group PLC is engaged in the design and sale of lifestyle clothing, related accessories and a homeware range, through the multi-channel business structure embracing retail stores, e-commerce, county shows and events and wholesale. The Company has three segments: Retail, Wholesale and Other. The Retail segment includes sales and costs relevant to Stores, E-commerce, Shows and Franchises. The Wholesale segment includes sales and costs relevant to the sale of products to other retail businesses or distributors for onward sale to their customer. The Other segment includes income from licensing. The Company's products include womenswear, menswear, Little Joule, Baby Joule, Wellies and homeware. The Company operates 97 the United Kingdom and Republic of Ireland stores (including five concessions) and three franchise stores. Joules branded products are sold through selected wholesale partners, primarily in the United Kingdom, North America and Germany. more »

LSE Price
227p
Change
 
Mkt Cap (£m)
199.3
P/E (fwd)
15.3
Yield (fwd)
1.4

Idox plc is a supplier of specialist information management solutions and services to the public sector and to regulated asset intensive industries around the world. The Company operates through five business segments: Public Sector Software (PSS), Engineering Information Management (EIM), Grants (GRS) and Compliance (COMP). PSS segment is an application provider to the United Kingdom local government for core functions relating to land, people and property, such as its planning systems and election management software. The EIM segment delivers engineering document management and control solutions to asset intensive industry sector. The GRS segment delivers funding solutions to private and third sector customers. The COMP segment provides compliance solutions to corporate, public and commercial customers. more »

LSE Price
28.4p
Change
-2.4%
Mkt Cap (£m)
118
P/E (fwd)
8.4
Yield (fwd)
3.9

Quartix Holdings plc is a United Kingdom-based supplier of vehicle tracking systems and services. The Company operates in designing, development and marketing of vehicle tracking devices and the provision of related data services segment. The Company offers subscription-based vehicle tracking systems, software and services in the United Kingdom. Its vehicle tracking systems incorporate instrumentation to identify and transmit location, speed and acceleration data to the Company on a real-time basis. Its vehicle tracking software system provides business critical reporting, and analysis of vehicle and driver data, including timesheets and other customer Key Performance Indicator (KPIs) to customers via any Internet-enabled device. The Company has an overseas branch in France and an overseas subsidiary in the United States. The Company's subsidiaries include Quartix Limited and Quartix Inc, which are engaged in the business of vehicle tracking. more »

LSE Price
265p
Change
 
Mkt Cap (£m)
126.8
P/E (fwd)
23.3
Yield (fwd)
4.1



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


8 Posts on this Thread show/hide all

MrContrarian 25th Jul 1 of 8
3

My morning smallcap tweet:

APC Technology (LON:APC), Earthport (LON:EPO), Vertu Motors (LON:VTU), Tern (LON:TERN)

APC Technology (APC) placing at 6.75p (nil discount) to fund a paper and cash acquisition.
Earthport (EPO) FY trading. Rev up 5%. Adjusted EBITDA loss increased by ~£1.9m to £4.8m but is below that previously expected.. "A challenging year for Earthport, with delays in implementation of client contracts and a change at one of the Group's leading e-commerce clients announced in December 2017." Increased loss due to cost of "delivering improvements to the Group's cost base and operational efficiency." Holders will be almost delighted.
Vertu Motors (VTU) AGM stmt. First 4 months in line. Interesting comment "expected, we are now experiencing longer new vehicle lead times from some Manufacturers, resulting in short term new vehicle supply volatility, as they manage the changes required ahead of the introduction of the Worldwide Harmonised Light Vehicle Test Procedure [new fuel consumption and emissions testing rules] on 1 September 2018. There is the potential for these supply constraints to extend from quarter 3 into quarter 4 of the calendar year, as Manufacturers balance supply, production and the availability of testing capacity on either side of the implementation of the new testing regime." I hold.
Tern (TERN) Placing at 26p, a 21% disc.

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TangoDoc 25th Jul 2 of 8
1

Van Elle Holdings (LON:VANL) revenue £103.9m up from £94.1m is "not so great"? What would it have had to be to qualify for approval? 

I'm thinking forward now. I'm thinking that we had the wettest spring, followed by what may turn out to be the longest hottest summer with cracks appearing all over my garden and this is a company that measures and manages geophysical problems in the building industry. PEG of 0.66 too.

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tic_tac_toe 25th Jul 3 of 8

did you see the sly release of news by Walker Greenbank (LON:WGB) last night at 16:27?

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Asagi 25th Jul 4 of 8
2

re: Quartix Holdings (LON:QTX)
I remain on the side-lines here, still a little baffled why people are paying up here on a PER of 20 (perhaps I have missed something).

Quartix produces high, reliable cash flows. That's how it pays a dividend almost equal to its reported EPS.

Asagi (no position)

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matylda 25th Jul 5 of 8
5

In reply to post #385069

Hi TangoDoc,

My "not so great" view is based on (sorry just don't have time to expand when rushing through this stuff in the morning)...

- A 10% increase in Revenue which translates into a 12.4% decrease in Underlying EPS.

Sure, as I mentioned, it's in-line but for me it's just "not so great".

On a PER of 6.92 and forecast EPS growth of 11.8%, I agree that gives a <1 PEG.

I would say that if that forecast 5% increase in Revenue is achieved and it translates into an 11.8% increase in EPS I would not be using the term "not so great", in fact I would almost be tempted to buy in.

Hope it helps and sorry I can't be more detailed first thing in the morning.

Blog: Briefed Up
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andrea34l 25th Jul 6 of 8
5

In reply to post #385069

Re Van Elle Holdings (LON:VANL), with FY operating profit down 4% and an outlook statement including "Following the challenging conditions experienced at the start of 2018, recovery has been slow in a number of our end markets which has resulted in a relatively quiet first quarter for the Group as a whole" and "we are cautiously optimistic about the Group's prospects" I am in the same camp as Matylda and see nothing to get excited about just now.

I tend to buy shares in a company based on fact rather than hope...

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matylda 25th Jul 7 of 8
1

Yes, Walker Greenbank (LON:WGB) was a bit naughty ! I was already Neutral there so that's where I will stay.

Asagi - Thanks re: Quartix Holdings (LON:QTX) - A fundamental I rarely look at, my process is quite simple, 1, because I like it that way and 2, when I was more "complicated" it just kept me out of too many stocks so I either had to break my rules (which I didn't like doing) or change (simplify) them, so I did.

Thanks for all the comments (and education) today guys.

Blog: Briefed Up
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Beginner 25th Jul 8 of 8

Two days on the trot! Hit now by Aeorema Communications (LON:AEO) announcement at 1530. A bit better than yesterday's by Walker Greenbank (LON:WGB) though! Revenues up 15%, and 50% increase to dividend, giving a yield of 2.3% at current prices. The company has 60% of its market cap in cash.  New experiential division is doing well. New management has settled in very well.  

Price up 25% in the last hour of trading, with perhaps more to come in the morning? The company is very closely held/illiquid.

'Looking ahead, the Company anticipates a similarly positive performance for the upcoming year as it continues to build upon on its position as an industry-leading, profitable, dividend-paying business with an illustrious blue-chip client base.' The latter include Vodafone (LON:VOD) and International Consolidated Airlines SA (LON:IAG) , a former employee tells me.

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