I Read The News Today Oh Boy! 25-Jul-2019

Thursday, Jul 25 2019 by
11

Morning all!

CMC Markets ( CMC Markets (LON:CMCX) ) – 98p – £283m – PER 12

Q1 Trading Update – LFL Net operating income up but costs marginally higher. Early in the year but still guides FY in-line.

Perhaps there’s value here but the potential of additional regulation still keeps me away from the sector in general.

Discoverie ( Discoverie (LON:DSCV) ) – 438p – £352m – PER 14.7

Q1 Trading Update – Q1 Trading strong, on track to deliver FY in-line with expectations.

Looks way overvalued on a 1 and 2 Year view. Based on the latest Broker note this morning, in my opinion, this looks way overvalued on a 1 Year and 2 Year view.

Findel ( Findel (LON:FDL) ) – 239p – £203m – PER 8

Trading Update For The 16 Weeks To 19 July 2019 – Solid start, FY unchanged.

Looks fairly valued on a 1 Year view but with such huge Net Debt I cannot get interested. Based on the latest Broker note this morning, in my opinion, this looks fairly valued on a 1 Year but overvalued on a 2 Year view - Net Debt is HUGE at 100%+ of current Market Cap and almost 8x PBT 2020E.

Gordon Dadds ( Gordon Dadds (LON:GOR) ) – 150p – £43m – PER 6.5

Results For The 12 Months To End March 2019 – Revenue up 69% to £52.6m (£31.2m), Adjusted PBT up 141% to £5.9m (£2.5m), Adjusted Diluted EPS up 79% to 18.8p (10.5p), Total Dividend up 50% to 6p (4p). Integration of Ince now complete and the opportunity to cross sell by practice area and geography is huge.

I am Long here and remain so based on these results and the opportunities ahead.  Based on the latest Broker note this morning, in my opinion, this still looks way undervalued on a 1 Year and 2 Year view with a reasonably well covered 5% yield.

Medica Group ( Medica (LON:MGP) ) – 134p – £145m – PER 14.2

Trading Update For The 6 Months To End June 2019 –…

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CMC Markets plc is a holding company. The Company is a provider of online and mobile trading servicing both retail and institutional clients. The Company enables clients to trade over 10,000 financial instruments, including indices, commodities, foreign exchange (FX) and equities through its trading platform. It operates through three segments: UK and Ireland (UK & IE), Europe, and Australia, New Zealand and Singapore (APAC) and Canada. Clients can trade the markets via contracts for difference (CFDs), financial spread bets (UK and Ireland segment only) and binaries. With the Company's spread bet, a client bets a specific stake size per point movement of a product, rather than trading a specific number of shares or units. The Company offers four types of binaries: Ladder, One Touch, Up/Down and Range. It also offers Australian wholesale and retail clients the ability to buy and sell Australian Securities Exchange (ASX) and SSX (formerly APX) listed products and managed funds. more »

LSE Price
102p
Change
2.0%
Mkt Cap (£m)
294.9
P/E (fwd)
12.2
Yield (fwd)
4.6

discoverIE Group PLC, formerly ACAL PLC, designs, manufactures and supplies components for electronic applications. The Company operates through two divisions: Custom Supply and Design & Manufacturing. The Custom Supply division provides technically demanding customized electronic, photonic and medical products to the industrial, medical and healthcare markets, both from a range of international suppliers and from the Company's Design & Manufacturing division. The Design & Manufacturing division manufactures custom electronic products that are designed or modified from a standard product for a specific customer requirement. The products are manufactured at the Company's in-house manufacturing facilities or by third party contractors. Its technology areas include communications & sensors, power & magnetics, electromechanical & cabling, microsystems, and imaging & photonics. more »

LSE Price
448p
Change
-1.8%
Mkt Cap (£m)
361.4
P/E (fwd)
15.2
Yield (fwd)
2.3

Studio Retail Group plc, formerly Findel plc, operates in the home shopping and education supplies markets. The Company's segments include Express Gifts, Findel Education and Overseas Sourcing. The Express Gifts segment includes direct mail order businesses in the United Kingdom, offering online and through catalogue a range of home and leisure items, clothing, toys and gifts supported by credit offer. The Findel Education segment supplies resources and equipment (excluding information technology and publishing) to schools and educational establishments in the United Kingdom and overseas. The Overseas Sourcing segment includes sourcing office based in Hong Kong supplying importing services to various group companies and external customers. The Company's subsidiary Express Gifts Limited, includes Studio, an online and home catalogue shopping; Ace, an online store for home, living and garden needs, and Health & Home, an online store for beauty, home, office and garden accessories. more »

LSE Price
205p
Change
2.5%
Mkt Cap (£m)
177.2
P/E (fwd)
6.9
Yield (fwd)
n/a



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


3 Posts on this Thread show/hide all

andrea34l 25th Jul 1 of 3
1

Re Gordon Dadds (LON:GOR) I think I have to thank you for first bringing them to my attention; after research I bought at 132, and topped up this morning after the initial hysteria dip. These results look FAB and they sound very confident about the future.

The only thing I worry about with SimplyBiz (LON:SBIZ) is how much growth is actually organic.

Agree with your summary of VP (LON:VP.) as the statement "broadly in-line" always shuns my interests.

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matylda 25th Jul 2 of 3

In reply to post #497191

You're welcome, I share similar concerns on SBIZ but continue to hold for now.

Blog: Briefed Up
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herbie47 26th Jul 3 of 3
1

I was considering Gordon Dadds (LON:GOR) but having read Paul's report I have changed my mind.

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