I Read The News Today Oh Boy! 27-Feb-2019

Wednesday, Feb 27 2019 by

Morning all!

Avingtrans ( Avingtrans (LON:AVG) ) – 210p – £65.3m – PER 16.5

Interim Results For The 6 Months To End November 2018 – Revenue from continued operations up from £26.9m to £47.7m (acquisition and 11% underlying organic growth). PBT of £1.6m (-£0.1m Loss last time) with Adjusted Diluted EPS of 4.1p (0.4p last time).

To be honest I just can't work out if this is a good update or not. I reckon it is worth waiting to see a full 12 months results here after the Hayward Tyler take-over, see how the intergration is really doing.

Beeks Financial Cloud ( Beeks Financial Cloud (LON:BKS) ) – 127.5p – £64.7m – PER 43

Interim Results For The 6 Months To End December 2018 – Revenue up 36%, Underlying PBT up 46%, Underlying Basic EPS up 88%, Net Cash down from £2.55m to £1.84m, there's a proposed Maiden Interim Dividend of 0.2p. Confident of continued strong organic growth following the historic trend of stronger H2. However, FY Revenue expected to be broadly in-line with underlying PBT growth expected to be circa 25% (due to platform and operations spend). 99% of Revenue is recurring.

Not sure this is quite enough given the rating, I will keep an eye on the market reaction here as there is still a lot to like. Not at this price though, perhaps!

Redde ( Redde (LON:REDD) ) – 187p – £573.4m – PER 13.2

Interim Results For The 6 Months To End December 2018 – Revenue up 14.9%, Adjusted PBT up 7.6%, Debtor days up from 105 days to 109 days with Cash down from £24.4m to £11.6m, Net Debt £41.2m (£22.5m last time). Adjusted Basic EPS is up 6% and the Interim Dividend sees no change.

I prefer to remain on the side-lines here as they also warn of a tougher H2 (compared to last year). I will now cease coverage unless (until!) this slips back below my usual £500m Market Cap limit. 

As always, all comment most welcome!

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Avingtrans plc is a United Kingdom-based company, which is principally engaged in the provision of engineered components, systems and services to the energy, medical and traffic management industries around the world. The Company operates in energy and medical segment. The energy and medical segment is engaged in the designing and manufacturing of machined and fabricated pressure and vacuum vessels and process plant and equipment for the power, oil and gas and medical markets. The energy and medical segment is also engaged in the designing and manufacturing of fabricated poles and cabinets for roadside safety cameras and rail track signaling. The Company's geographical locations include the United Kingdom, Europe, North America and Rest of World. The Company's subsidiaries include Crown UK Limited, Stainless Metalcraft (Chatteris) Limited, Composite Products Ltd, Hayward Tyler Ltd and Peter Brotherhood Ltd. more »

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Beeks Financial Cloud Group PLC is a United Kingdom-based provider of custom computer programming company. The Company is focused on providing niche cloud computing and connectivity services for automated trading in futures and forex financial products. The Company’s platform designed for latency sensitive automated trading environments and provides on demand low latency computing resources to its clients through its direct connectivity. The Company offers server infrastructure and connectivity to its clients which enables same day trading of forex and futures on financial exchanges and trading venues. The Company’s products include dedicated server, VPS, and Co-Location. more »

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Redde plc is a holding company. The Company is engaged in providing non-fault accident management assistance and related services, fleet management and legal services. The Company offers a range of motor claims accident management services, including vehicle replacement and repair management together with full claims-handling assistance, as well as legal and other personalized services. The Company manages its own fleet of approximately 7,000 vehicles and has access to over 50,000 vehicles through selected rental partnerships. It also provides specialized large fleet accident and incident management services through the FMG group of companies with over 300,000 fleet vehicles under management. It provides accident management services from operational call center sites in Peterlee, County Durham, Huddersfield and Croydon, as well as solicitors' services through Principia Law Limited from Northwich and NewLaw Legal Limited from Bristol, Cardiff and an associated office in Glasgow. more »

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

1 Post on this Thread show/hide all

Beginner 27th Feb 1 of 1

Avingtrans (LON:AVG) is a punt on the management, who have an excellent track record of taking engineering businesses and turning them around. It should be a slow burner.

Arcontech (LON:ARC) may be worth a look.Turnover up 13%, pre-tax profit up 41%, and has a fifth of its market cap in cash. The PER is c17, so neither cheap nor expensive. However they too should be a good bet in the longer term.

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