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

Thursday, Jun 27 2019 by
12

Morning all!

Anpario ( Anpario (LON:ANP) ) – 337p – £79m – PER 18

AGM Statement – Challenges but margins improved and expects FY to be in-line.

I see no value here at all at present.

Liontrust Asset Management ( Liontrust Asset Management (LON:LIO) ) – 718p – £364m – PER 14

Results For The 12 Months To End March 2019 – Revenue, Adjusted PBT and EPS both up 10% - Consistent!  The Total Dividend is up 29%.

Looks quite good but just too dependent on in-flows into AUM, just like all Asset Management companies.

James Latham ( James Latham (LON:LTHM) ) – 835p – £164m – PER 13.2

Results For The 12 Months To End March 2019 – Revenue up 9.4%, PBT flat (£15.3m), EPS up 6.4% and the Dividend is up just under 10%.

Still seems steady enough here but can't see any kicker for getting past the pedestrian growth here.

Manolete Partners ( Manolete Partners (LON:MANO) ) – 527p – £229m – PER 31.4

Maiden Results For The 12 Months To End March 2019 – Ahead of expectations, Revenue up 30% (from £10.6m to £13.8m), PBT up 85% (pre IPO costs), Maiden Dividend 1.49p, Investment cases up 72%, Cash at £9.7m.

First coverage here, looks good – Will be looking into this in more detail.

Scientific Digital Imaging ( Scientific Digital Imaging (LON:SDI) ) – 54p – £52m – PER 16.2

Trading Update For The 12 Months To End April 2019 – Expects Revenue of £17.4m, PBT no less than £2m, Net Debt £1.6m.

I am Long here and this looks quite good.

Wincanton ( Wincanton (LON:WIN) ) – 267p – £333m – PER 7.7

AGM Statement – In-line.

Perhaps attractive for the yield but not so sure about there being much potential for meaningful growth – Probably reflected in the rating. 

As always, all comment most welcome!

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Anpario plc is a producer and distributor of natural feed additives for animal health, hygiene and nutrition. The Company operates through two segments: UK and Eire, and International. The Company is focused on the manufacture and sale of natural feed additive products to agricultural markets. Its products for the poultry, pig, ruminant and animal feed markets include acidifiers, enzymes, essential oils, pellet binders, antioxidants, mycotoxin binders, mold control products and a range of nutritional premixes and performance enhancers. It offers natural feed additive/flavor called Orego-Stim. It offers its customers a number of omega 3 & 6 supplements for use in feed. Its products in the aquaculture range include growth promoters, immune enhancers and pellet binders for both shrimp and fish. The Company's trading brands are Kiotechagil, Meriden and Optivite, which trade across approximately 70 countries around the world. more »

LSE Price
315p
Change
-2.8%
Mkt Cap (£m)
75.5
P/E (fwd)
17.0
Yield (fwd)
2.5

Liontrust Asset Management PLC (Liontrust) is a holding company. The Company is engaged in specialist fund management business. It is an investment management company that manages the United Kingdom, European, Asian and Global equities, Global credit and Multi-Assets. It offers a range of products, such as Unit Trusts, Offshore funds, Segregated Mandates and Discretionary Portfolio Management Services. The Company distributes its funds and portfolios in the United Kingdom and internationally. In the United Kingdom, the Company markets to institutional investors, wealth managers, financial advisors and private investors. Outside the United Kingdom, it is focused on family offices, private banks, wealth managers and multi-managers in various countries, including Benelux, Malta, Germany, Italy and the Nordic region. Its product types include the United Kingdom retail; Institutional, and Offshore funds. The Company's division include Fund Management, Distribution and Operations. more »

LSE Price
750p
Change
2.7%
Mkt Cap (£m)
371.7
P/E (fwd)
12.2
Yield (fwd)
4.7

James Latham plc is a timber and panel products distributor. The Company is engaged in timber importing and distribution, carried out in approximately 10 locations. The Company offers a range of wood-based panel products, natural acrylic stone, hardwoods, high grade softwoods, flooring, cladding, decking and plastics. The Company also supplies commodity and specialist products to timber and builders' merchants. The Company offers a range of product categories, such as panels, solid surface, door blanks, hardwoods, softwoods, engineered timber, flooring, decking, cladding, modified timber and panels, fire retardant panels and technical panels. The Company caters to door and kitchen manufacturers, shop fitters and other market sectors. The Company's subsidiaries include Lathams Limited and James Latham Trustee Limited. Lathams Limited is engaged in importing and distribution of timber and panel products. James Latham Trustee Limited is a corporate trustee company. more »

LSE Price
842.5p
Change
0.3%
Mkt Cap (£m)
165.5
P/E (fwd)
n/a
Yield (fwd)
n/a



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


2 Posts on this Thread show/hide all

MrContrarian 27th Jun 1 of 2
4

My morning smallcap tweet:

Scientific Digital Imaging (LON:SDI), Staffline (LON:STAF), Leaf Clean Energy Co (LON:LEAF)

Scientific Digital Imaging (SDI) hikes FY guidance: rev £17.4m, adj pretax (before amortisation of acquired intangibles, share based payments and acquisition and reorganisation costs) at least £2.9m. F/C £16.6m, £2.5m.
Staffline (STAF) £41m placing and open offer at 100p, a 33% discount. STAF was 1200p only 6 months ago. I hold.
Leaf Clean Energy (LEAF) Invenergy have threatened to appeal. It has until July 15 to do so, so no payout until after then. I hold.

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andrea34l 27th Jun 2 of 2
2

I suppose I'm wishing I hadn't top-sliced Scientific Digital Imaging (LON:SDI) at 58.1p.... though I could buy them back now and make a profit if the sell price even just got back up to 58 again; I'm watching it.....

I hold Liontrust Asset Management (LON:LIO) but will probably sell when they peak, as I am wary of the general outlook of the markets with Brexit, US/China, etc. Also, there are a number of their funds in the 3rd or 4th quartiles at the mo.

I'm not convinced by Manolete Partners (LON:MANO) (as per my comment on the SCVR page), the revenue/profit is hugely boosted by unrealised gains and I wonder if these are guaranteed and who is doing the valuing. Also, the completed cases for the year reported on are WELL down on previous years!

Gresham House Strategic (LON:GHS) announce finals to March, with a 13% out-performance of the smallcap index and a total return of 20%; NAV is currently 1335 vs share price of 1175p. I hold.... on the basis that I'm too risk-averse to invest in some of the individual parts, such as Augean (LON:AUG) for example :-o

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