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

Thursday, Oct 25 2018 by
11

Morning all!

Debenhams ( Debenhams (LON:DEB) ) – 8.5p – £104.6m – PER 3.4

Preliminary Results For The 52 Weeks To 1st September 2018 – Confirms previous figures (from 10th September).  Transformation strategy in progress.

Remains on my Avoid list, it’s a coin flip at best (in my opinion) whether this will work out or not.

Air Partner ( Air Partner (LON:AIR) ) – 106.5p – £55.6m – PER 11.5

Results For The 6 Months To End July 2018 – Underlying PBT flat at £4.2m (statutory down 30%) with Underlying EPS up 8.9%. Outlook “challenging” but “in-line”.

I remain Neutral here as this just doesn’t sound particularly exciting to at present.

Alumasc ( Alumasc (LON:ALU) ) – 128.5p – £46.4m – PER 6.85

AGM Statement And Trading Update – FY expectations unchanged.

It’s not I don’t believe them but I retain my “staying away from this for now” stance here - Neutral.

Filtronic ( Filtronic (LON:FTC) ) – 21.25p – £44m – PER 35.4

AGM Statement – In-line (with a little bit of caution relating to legacy sales).

I am yet to see value here so remain Neutral.

Mattioli Woods ( Mattioli Woods (LON:MTW) ) – 687.5p – £180.8m – PER 15.9

AGM Statement – A lower level of client activity (didn’t blame the weather but did blame poor investor sentiment and Brexit) has impacted Revenue but not EBITDA. Profit outlook is in-line.

I still quite like this and can see value here at last. I remain Neutral but will do a little more research this week (hopefully).

1pm ( 1pm (LON:OPM) ) – 47p – £41.0m – PER 6.15

AGM Statement – Trading is in-line.

Bought in here earlier this month, I had this to say “Seeing potential for a 100%+ 2 year upside on a current PER of about 7. Forecast for 6% EPS growth in 2019E and 13% EPS growth in 2020E plus a very well covered 1.5% yield. ROCE (9.39%) is well above the Industry median and the Op Margin (26.5%) is also very good.”. I remain Long here and if these forecasts are met I expect upside.

Eckoh ( Eckoh (LON:ECK) ) – 39p – £98.6m – PER 44.1

Trading Update For The 6 Months To End September 2018 – In-line with Net Cash up to £3.4m (from £1.7m).

I remain Neutral as (according to Stockopedia) EPS will be down almost 50% if in-line.

StatPro ( StatPro (LON:SOG) ) – 124.5p – £81.9m – PER 14.8

Q3 Trading Update – In-line.

Could well be value here now, I remain Neutral but will research this a little more this week.

Centaur Media ( Centaur Media (LON:CAU) ) – 39.5p – £57.1m – PER 10.9

Trading Update – Expects Revenue to be below current market expectations now considering “selective divestments”.

I remain Neutral as no idea what the outcome could be here.

SCS ( SCS (LON:SCS) ) – 221p – £88.4m – PER 8.7

Trading Update – Last 12 weeks in-line even with the bad (27) House Of Fraser concessions included – Confirmation these are to now cease trading.

I remain Neutral as in-line forecasts are for lower EPS than last year.

As always, all comment most welcome!


Disclaimer:  

As per our Terms of Use, Stockopedia is a financial news & data site, discussion forum and content aggregator. Our site should be used for educational & informational purposes only. We do not provide investment advice, recommendations or views as to whether an investment or strategy is suited to the investment needs of a specific individual. You should make your own decisions and seek independent professional advice before doing so. The author may own shares in any companies discussed, all opinions are his/her own & are general/impersonal. Remember: Shares can go down as well as up. Past performance is not a guide to future performance & investors may not get back the amount invested.


Do you like this Post?
Yes
No
11 thumbs up
0 thumbs down
Share this post with friends



Filtronic plc is engaged in the design and manufacture of a range of customized radio frequency (RF), microwave and millimeter-wave components and subsystems. The Company's segments include Filtronic Broadband, Filtronic Wireless and Central Services. The Filtronic Broadband segment is engaged in the design and manufacture of transceiver modules and filters for backhaul microwave linking of base stations used in wireless telecommunications networks. The Filtronic Wireless is engaged in the design of radio frequency conditioning product for base stations used in wireless telecommunication networks. The Central Services segment provides support to the trading businesses. Its products are used in mobile wireless communication equipment and point-to-point communication systems, among others. Its product range includes transceiver modules and multi-chip, surface mountable transceiver packages at microwave, 71 gigahertz (GHz) to 86 GHz (E-band) and 57 GHz to 66 GHz (V-band) frequencies. more »

LSE Price
6.85p
Change
-4.9%
Mkt Cap (£m)
14.3
P/E (fwd)
13.4
Yield (fwd)
n/a

Centaur Media Plc is a holding company. The Company is engaged in the provision of business information, events and marketing solutions to professional and commercial markets. It operates through three segments: Marketing, Financial Services and Professional. The Marketing segment includes all of the Company's brands that serve the Marketing and Creative professions, including Econsultancy, Marketing Week, Festival of Marketing. The Financial services segment serves the retail financial services industry, which includes Money Marketing, Fund Strategy, Mortgage Strategy, Corporate Advisor, Tax Briefs, Headline Money and Platforum. The Professional segment includes four subsidiary markets: Legal, Engineering, Human Resource, and Travel & Meetings. more »

LSE Price
43.8p
Change
-0.5%
Mkt Cap (£m)
63.3
P/E (fwd)
15.5
Yield (fwd)
6.8

Debenhams plc is a United Kingdom-based company, which is engaged in multi-channel business. The Company’s brand trades through approximately 240 stores in 27 countries. The Company's segments are UK and International. The UK segment consists of stores in the United Kingdom and online sales to the United Kingdom addresses. The International segment consists of international franchise stores, the Company-owned stores in Denmark and the Republic of Ireland, and online sales to addresses outside the United Kingdom. The Company's stores trade under the name of Debenhams other than the Danish stores, which operate under the Magasin du Nord banner. Its stores offer customers a range of services, including restaurants and cafes, personal shopping assistance, hairdressing and beauty treatments, nail bars and wedding or celebration gift services. Its Debenhams Direct (www.debenhams.com) offers a range of products and services for online customers. more »

LSE Price
5.35p
Change
-1.8%
Mkt Cap (£m)
65.7
P/E (fwd)
5.4
Yield (fwd)
n/a



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


2 Posts on this Thread show/hide all

MrContrarian 25th Oct 1 of 2
3

My morning smallcap tweet: Butcher attacks DEB estate.

Debenhams (LON:DEB), Centaur Media (LON:CAU), Cohort (LON:CHRT), Zinc Media (LON:ZIN)

Debenhams (DEB) FY figs as guided in Sept. As leaked to press, will close up to 50 stores, no div. "Above-market digital growth of 12%." Above market? Seems pedestrian for online. Next is up 15.5% for example. Lots of cost savings, brave face. No current trading. "Our transformation strategy is gaining traction." Has included risk of suppliers losing more credit insurance in going concern stress tests. No mention of selling Magasin Du Nord to cut debt, now at £321m net. up £45m. CEO aptly called Butcher. I'm short.
Centaur Media (CAU) guides FY adjusted operating profit up 18%, below market expectations. "Centaur has received approaches for a number of its assets...Board believes this value is not reflected in Centaur's current share price." The dimwits issued 2 RNSs, the 2nd having the addendum missing in the first.
Cohort (CHRT) selected as preferred bidder for an eight-year contract from 2019, valued at over £50m. Contract subject to final negotiation and MOD approval.
Zinc Media (ZIN) wins $6m in TV comissions, most in current FY.

| Link | Share
Beginner 25th Oct 2 of 2
2

Re StatPro (LON:SOG), the debt here is nearly 30% of the market cap and the balance sheet is loaded with goodwill. Growth is only coming by acquisition, which loads up more debt. Maybe one for the future, but perhaps not in the current market.

| Link | Share

What's your view on this thread? Log In to Comment Now

You can track all @StockoChat comments via Twitter




Stock Picking Tutorial Centre



Let’s get you setup so you get the most out of our service
Done, Let's add some stocks
Brilliant - You've created a folio! Now let's add some stocks to it.

  • Apple (AAPL)

  • Shell (RDSA)

  • Twitter (TWTR)

  • Volkswagon AG (VOK)

  • McDonalds (MCD)

  • Vodafone (VOD)

  • Barratt Homes (BDEV)

  • Microsoft (MSFT)

  • Tesco (TSCO)
Save and show me my analysis