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…
