Morning all!
Clipper Logistics ( £CLG ) – 225p – £229m – PER 11.5
Trading Update For The 12 Months To End April 2019 – FY Revenue to be slightly ahead of current market expectations but under IFRS3 FY EBIT will be moderately below market expectations but will be uplifted in 2020.
Fairly valued here, perhaps. Perhaps one to consider for the yield (of 4%+).
As always, all comment most welcome!
My morning smallcap tweet: Cognition needs think
Cambridge Cognition Holdings (LON:COG), Renold (LON:RNO), Malvern International (LON:MLVN)
Cambridge Cognition (COG) giuodes FY rev £5.5m (2018: £6.13m), loss £2.6m (£1.44m). Blames weak sales in the core clinical trials business, increased R&D. Will cut cists and 'improve commercialisation'. Wouldn't you always be iming to improve commercialisation? Plans to breakeven in Q4.
Renold (RNO) accounts investigation complete - only slightly worse than sated in July. Adj op profit for FY 2019 overstated by £1m.
Malvern (MLVN) secured loan of up to £6.6m to repay shareholder loan at an onerous 10% PA + 1.25% fee + warrants of up to 5% of cap. Lender is Boost & Co.
