Morning all!
Adept Telecom ( Adept Telecom (LON:ADT) ) – 380p – £90.1m – PER 12.6
AGM Statement – Company name change to “AdEPT Technology Group”, Interim Dividend up 15.3% - Confident results will support this.
I bought in here recently and although this isn’t the most reassuring of updates (in-line, ahead, ???) I will continue to hold for now – Of course with an eye on the market reaction to this update.
Zoo Digital ( Zoo Digital (LON:ZOO) ) – 170p – £126.4m – PER 90.1
AGM Statement – Revenues 17% up on the same period last year, FY to be in-line with expectations.
I remain Neutral here as I believe this may well have gotten a little ahead of itself – Although it does seem to be in a great space!
Bonmarche Holdings ( Bonmarche Holdings (LON:BON) ) – 103p – £51.5m – PER 6.64
Trading Update – On-line sales in-line, stores below expectations – Revised Underlying PBT for FY 2019 £5.5m (I think £8m, same as last year was expected, not sure (seems FX is partly to blame)). Total 2019 FY Dividend to be the same as last year, 7.75p.
Mixed bag here but still a decent yield. However, it’s tough (for me) to work out the potential capital loss/gain – I remain Neutral.
VP ( VP (LON:VP.) ) – 1095p – £439.7m – PER 11.1
Trading Update – In-line.
Still some attraction here but the Net Debt is enough to keep me Neutral at present.
Volvere ( Volvere (LON:VLE) ) – 890p – £32.6m – PER 15.8
Interim Results For The 6 Months To End June 2018 – Record Revenue (£22m), up about 20% and PBT (£1.28m), up about 60%. Very strong performance by Impetus with Shire and SDS meeting expectations. Look forward to delivering a strong H2.
I remain Long here, still seems decent value on a PER of 15 (much less if you strip out the Cash).
As always, all comment most welcome!
