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

Wednesday, Mar 27 2019 by

Morning all!

Still car less and had no mood for yesterdays report - Will get it sorted today all being well.

AB Dynamics ( Ab Dynamics (LON:ABDP) ) – 1670p – £328m – PER 28.8

Trading Update For The 6 Months To End February 2019 – Revenue and Adjusted Operating Profit to be significantly ahead of last year – Confident FY will be in-line with management and market expectations.

Great update but I still don't see value here on such a high rating.

Accesso Technology ( accesso Technology (LON:ACSO) ) – 850p – £232m – PER 12

Results For The 12 Months To End December 2018 – Revenue up 15.5%, Adjusted Operating Profit up 25.5%, Adjusted Basic EPS up 23.8%, Net Cash down from $12.5m to $0.5m. 2019 has started in-line.

A new one from me having fallen from grace recently, it 3000p 6 months or so ago. Doesn't look too bad based on these results, I will look into it in a little more detail, especially to see what 2019 in-line looks like.

Churchill China ( Churchill China (LON:CHH) ) – 1362p – £149m – PER 19.5

Results For The 12 Months To End December 2018 – Revenue up 7%, PBT up just over 10%, Adjusted EPS up 26% with the Final Dividend up 18%. 2019 has started well.

Still a lot to like here – It’s got Cash, a Brand, great ROCE, Op Margin, Double Digit growth and a well covered 2% or so Yield. However, it does look like all that is priced in at this level.

Inspired Energy ( Inspired Energy (LON:INSE) ) – 17.4p – £124m – PER 9.9

Results For The 12 Months To End December 2018 – Revenue up 24%, PBT up 40%, Adjusted Diluted EPS up 25%, FY Dividend up 18% and the Order Book is also up 36%. Net Debt up from £14.79m to £23.54m.

Still looks interesting apart from that Net Debt - Will keep an eye out for updated Broker notes.

As always, all comment most welcome!

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AB Dynamics plc is a holding company, which is engaged in the provision of testing systems to the global motor industry. The Company is a designer, manufacturer and provider of testing and measurement products for vehicle suspension, brakes and steering to the global automotive research and development sector. Its geographical segments include the United Kingdom, Rest of the European Union, North America and Rest of the World. It designs and manufactures specialized testing systems to produce equipment for its customers to develop suspension, brake, chassis and steering systems; evaluate vehicle dynamics and safety systems on the track; employ driver in loop simulation for prototyping; develop and evaluate the next generation of safety systems in vehicles; test and evaluate the technology for use in future driverless cars/autonomous vehicles, and carry out end-of-line noise/vibration (NVH) testing of power train assemblies. more »

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accesso Technology Group plc is a United Kingdom-based company engaged in the development and application of ticketing, mobile and e-commerce technologies, and virtual queuing solutions for the attractions and leisure industry. The Company's solutions include accesso LoQueue, accesso Passport, accesso Siriusware and accesso ShoWare. accesso LoQueue is a queuing solution that includes Qsmart, Qbot and Qband. The accesso Passport ticketing suite is built where its customers shop. accesso Siriusware provides clients with ticketing and admission solutions, and includes various modules, such as OnSite Ticketing, OnLine eCommerce, Point-of-Sale and Guest Management. accesso ShoWare offers a range of ticketing software solutions for theaters, fairs, arenas and tours. The Company's products and services support attractions in the world, including a range of paid admission operations ranging from theme parks, water parks and zoos to cultural attractions and sporting events. 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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  Is LON:ABDP fundamentally strong or weak? Find out More »

1 Post on this Thread show/hide all

MrContrarian 27th Mar 1 of 1

My morning smallcap tweet:

Goals Soccer Centres (LON:GOAL), Gresham Technologies (LON:GHT), accesso Technology (LON:ACSO), Debenhams (LON:DEB), Frontier IP (LON:FIPP), LXB Retail Properties (LON:LXB), Mirriad Advertising (LON:MIRI)

Goals Soccer Centres (GOAL) Previous CFO left a hand grenade in the accounts tray. GOAL owes at least £12m VAT after 'misdecleration' over several years. Future profits may be hit. DIscussions with lenders. Shares suspended.
Gresham Technologies (GHT) wins £5m contract over 5 years. £0.9m is expected to be recognised in 2019.
Accesso (ACSO) FY rev up 16%, adj EPS up 24% but U/L FCF down 69% to £2.4m. Organic rev up 8%. Will be spending more on R&D oner 2-3 years to meet customers needs. Guides high single digit organic rev growth this FY. I hold.
Debenhams (DEB) Mashley makes indicative offer of 5p, a 127% premium and would also assist Debenhams in addressing its immediate funding requirements. Guess what the condition is? Mashley as CEO immediately, and to stop refinancing talks. I think that's a good deal for holders.
Frontier IP Group (FIPP) H1 NAV/sh 38.8p up 5.6p in half. Guides FY ahead of management expectations.
LXB Retail Properties (LXB) will delist on 29 April as part of winding up. I hold.
Mirriad Advertising (MIRI) New CEO rubbishes previous strategy, outline his great plans. Lots of MBA talk: "Pursue one vision, one strategy and one plan that focuses the company on its path to success and ensures that all resources are aligned to the opportunity."

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