Morning all!
Adept Telecom ( £ADT ) – 359p – £85m – PER 11
Trading Update For The 6 Months To End September 2019 – Lots to say and generally seems to be in-line.
And ex-holding which I exited as I was a bit uncomfortable with the rate of acquisition and the Debt level – I also consider 300p or so to be fair value (given a 2 year view).
Hornby ( £HRN ) – 27p – £34m – PER n/a
Trading Statement For The 5 Months To End August 2019 – Revenue and margins ahead of last year (in-line with internal budgets) but remains cautious about Brexit and Christmas.
I am no more interested here today than I was yesterday.
Mission Marketing ( £TMMG ) – 84p – £72m – PER 9
Interim Results For The 6 Months To End June 2019 – Revenue up 9%, PBT up 10%, Adjusted EPS up 9%, the Interim Dividend is up 10%. Despite Brexit concerns remain on track to deliver FY expectations. Name is also changed today to The Mission Group.
I hold here but I have to admit I am not a fan of H2 weighting (mentioned again today) but I will continue to hold (and observe) for now.
Scientific Digital Imaging ( £SDI ) – 52p – £50m – PER 15
Trading Update For The 12 Months To End April 2020 – Comfortable with current forecasts.
I am Long here and this seems like another an in-line update. Would still like to see an earning enhancing acquisition(s) or significant improvement in organic growth.
As always, all comment most welcome!
