I Read The News Today Oh Boy! 26-Jan-2018
Morning All!
Just a couple here to finish the week off…
Arena Events ( Arena Events (LON:ARE) ) – 61.5p – £70.5m – PER 15.0
Trading Update For The 12 Months To End December 2017 – “Maiden full year results in line with expectations”, the CEO states “We made strong progress in 2017, growing the business organically, commencing trading on AIM in July and declaring our maiden interim dividend in September. As a management team, we continue to evaluate a number of acquisition opportunities which we believe will further contribute to the growth of our business. The board continues to remain confident in the prospects for the Group”. Net Debt expected to be £11.5m.
Forecasts look OK here but I still can’t work out if this is investible or not (cannot find any broker updates). I will remain Neutral for now.
Watchstone ( Watchstone (LON:WTG) ) – 103.5p – £47.6m – PER n/a
Trading Update For The 12 Months To End December 2017 – Expected to be “broadly” in-line with expectations.
There’s an ongoing SFO investigation and legal battle here and with that in mind, there’s certainly not enough to attract me here.
A great weekend to all!
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1 comment
My morning smallcap tweet:
Avanti Communications (LON:AVN), Watchstone (LON:WTG), Palace Capital (LON:PCA), Physiomics (LON:PYC)
Avanti Communications (AVN) RNS last night. Trading - guides rev at least $50m. May add $40m if a particular infrequently recurring transaction occurs. F/C is $99m so could be huge miss. HYLAS 3 launch delayed another Q to 2019. Also Launch of Consent Solicitations to ease bondholder terms & cut interest rates, Avanti have persuaded bondholder to take so many haircuts they should open a barber shop.
Watchstone Group (WTG) FY trading broadly in line. Profitability in both remaining businesses down. I'm short.
Palace Capital (PCA) new £40m banking facility at 1.95% over LIBOR will cut company's average cost of debt to below 3%. I hold.
Physiomics (PYC) boasts a 'major' new pharmaceutical client. Only worth £35k though. "If this initial project is successful, we would hope to develop a longer-term relationship.