I Read The News Today Oh Boy! 27-Mar-2018

Tuesday, Mar 27 2018 by

Morning all!

Alliance Pharma ( Alliance Pharma (LON:APH) ) – 66.6p – £320.2m – PER 14.9

Results For The 12 Months To End December 2017 – Revenue up 6% to £103.3m (2016: £97.5m), 3% CC, Underlying PBT up 8% to £24.0m (2016: £22.2m), Underlying Adjusted Basic EPS up 10% to 4.06p (2016: 3.69p), Net Debt at £72.3m (2016: £76.1m), FY Dividend will be 10% up at 1.331p (2016: 1.210p). This year has started well.

Still quite like this. Previously my Watchlist at 60p, I will leave it there for now.

Churchill China ( Churchill China (LON:CHH) ) – 945p – £101.9m – PER 15.7

Results For The 12 Months To End December 2017 – Revenue up 5% to £53.5m (2016: £51.1m), Profit before exceptional item and  tax up 15% to £7.5m (2016: £6.5m), Adjusted EPS up 15% to 55.3p (2016: 48.2p), Proposed Final Dividend up 16% to 17.2p (2016: 14.8p). Look forward to the coming year with confidence.

Still quite like this but don’t see any scope for anything extraordinary to happen here, except perhaps a bid for the brand. I’m Neutral.

Elecosoft ( Elecosoft (LON:ELCO) ) – 52.26p – £37.9m – PER 17.6

Results For The 12 Months To End December 2017 – Revenue up 12% (8% CC) to £20.0m (2016: £17.8m), Net borrowings eliminated, £1.0m net cash at year end (2016: £1.3m net borrowings), Adjusted EPS share* up 20% to 2.9p (2016: 2.4p) with the FY Dividend up 50% to 0.60p (2016: 0.40p) with final recommended dividend of 0.40p. Confident for the year ahead (and beyond).

This was on my Watchlist and probably missed out here (so will just leave it there at 40p for now). Rightly or wrongly, I just can’t justify the current valuation based on a 8% uplift in Revenue and a 20% uplift in EPS. That said the ROCE and Op. Margin are pretty good!

Moss Bros ( Moss Bros (LON:MOSB) ) – 46.75p – £44.9m – PER 11.5

Preliminary Results For The 52 Weeks To 27 January 2018 – As expected here, not particularly good results and confirmation that 2019 will be no better.

Remains on my…

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Alliance Pharma plc is a United Kingdom-based specialty pharmaceutical company. The Company is engaged in acquisition, marketing and distribution of pharmaceutical products. The Company operates in various business areas, such as Hydromol, secondary care, community and consumer products, established products and international. The Company's therapeutic areas of focus include cardiovascular, central nervous system, child health, consumer health, dermatology, endocrinology, gastroenterology, obstetrics and gynecology, oral health, oncology, stoma care, toxicology and travel health. The Company's product categories include prescription only medicines, over the counter medications, medical devices, cosmetics and nutritional supplements. The Company's products include SkinSafe, Lift Plus, AbsorbaGel, DeoGel, LaVera, ClearWay, Gelclair, ImmuCyst 81mg, Hydromol, MacuShield, Lypsyl, Anbesol Adult Strength Gel, MolluDab and Ashton & Parsons Infants' Powders. more »

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Churchill China plc is a United Kingdom-based manufacturer and distributor of tabletop products to the hospitality and retail sectors across the world. The Company's customers include pub, restaurant and hotel chains, sports and conference venues, health and education establishments, and contract caterers. The Company's segments include Hospitality and Retail. The Company primarily offers ceramic tableware. The Company also manufactures and sources product sold through Retail customers for consumer use in the home, in various markets across the world. The Company offers Churchill branded manufactured products. The Company offers various types of products, such as accessories, beverage pots, bowls and dishes, cake stands, cookware, cups, mugs, cutlery, dip pots and sauce dishes, glassware, jugs, melamine items, plate towers, plates, saucers and wooden items. Its collections include Alchemy Fine China, Churchill Super Vitrified, Art de Cuisine, Sola Cutlery and Lucaris Glassware. more »

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Elecosoft plc is a United Kingdom-based company. The Company is focused on providing software and related services to the architectural, engineering, construction and digital marketing industries. The Company’s software programs cover project management, construction site management, estimating, timber engineering, 3D design and visualization, and cloud-based digital marketing solutions. more »

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

5 Posts on this Thread show/hide all

MrContrarian 27th Mar '18 1 of 5

My morning smallcap tweet:

Mountfield (LON:MOGP), Quartix Holdings (LON:QTX), Summit Therapeutics (LON:SUMM), STM (LON:STM), Alliance Pharma (LON:APH)

Mountfield Group (MOGP) FY trading - a substantial increase to net profit. No comparison to expectations. Outlook - orders for 2018 £8.8m, a record high at this point of the year.
Quartix Holdings (QTX) YTD trading in line but warns of increased pricing pressure in the insurance telematics market. Some telematics suppliers pricing at, or close to, the cost of service delivery. Board anticipates that its volume of business in this sector will decline further. There is likely to be a decline in its insurance volumes in H2 which could lead to flat rev YoY.. Free cash flow hit is expected to be proportionately greater, although profit for the year is expected to remain in line with market expectations. Consensus f/c rev: £26.10m; Adjusted EBITDA £7.55m; Free Cash Flow: £6.35m.
Summit Therapeutics (SUMM) placing at 5% disc.
STM Group (STM) FY looks good with U/L EPS 5.29p (3.15p). It seem that Gibraltar's regulator running over the CEO with a streamroller has reduced his "appetite for risk in respect of its relationships and dealings with the regulators". Regulator's report due in April.
Alliance Pharma (APH) is "looking forward to leveraging our expanded footprint." No mention of utilising synergy. Strange.

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mrosbiston 27th Mar '18 2 of 5

happy holder, its a growth stock with a PE under 12, history of 'above expectation' trading updates. would expect forecasts to get revised shortly following these numbers - could be re-rated.

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andrea34l 27th Mar '18 3 of 5

I am also a happy holder of SCISYS (LON:SSY) and have increased my holding after today's cracking results - I initially bought last year just under 100p, and after these results I think they are still very good value with a moderate p/e relative to eps and profit increases. They sound more upbeat than I can ever remember, and have a significantly increased order book, and I like the fact that they have multiple divisions so performance is not dependent on only one area.

The results from GAME Digital (LON:GMD) look distinctly lacklustre... but, if I'm doing my sums right, for every share (which one can currently buy for just under 25p) one is getting 48p. Is that right?

I continue to consider Alliance Pharma (LON:APH) a dull, low-growth business. Perhaps I'm missing something...

Meanwhile, I quite like the results from Billington Holdings (LON:BILN) - all of the metrics are up 15-16%, and yet the PER is only 9? Admittedly it's hardly a sexy business, but it seems good value. The wide spread is a shame, although it's no wider than if one scaled the price down to be a penny share... is it?

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matylda 27th Mar '18 4 of 5

In reply to post #345903

Yeah - Liking SysGroup (LON:SYS), GAME Digital (LON:GMD) I am as confused as the update, Alliance Pharma (LON:APH) as I say, will consider at 60p and Billington Holdings (LON:BILN), been liking it for a while just not bought in, didn't cover this morning in the report as I ran out of time, got an eye on it because I also like the "PEG" there, love a decent "PEG" :)

Blog: Briefed Up
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ricky65 27th Mar '18 5 of 5

SCISYS (LON:SSY) looks like a Minervini stock and close to a breakout.

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