Morning all!

Fulham Shore ( £FUL ) – 11p – £63m – PER 72

Trading Update – In-line.

Still looks to be heading in the right direction but still not enough for me at present.

Headlam ( £HEAD ) – 419p – £355m – PER 10.89

Interim Results For The 6 Months To End June 2019 – Revenue up 3.3% (LFL 2%), Profit and EPS down slightly, Interim Dividend held. FY expectations unchanged but mention of the B word.

I maintain my previous view here “The growth here is not exactly stellar but the yield and ability to pay that yield seems to be providing support – A potential for income (with small growth perhaps)”.

IG Design ( £IGR ) – 590p – £463m – PER 18

Trading Update – Strong YoY Revenue and Profit growth, Order book ahead of last year, cross selling continues, key licenses (Frozen 2 and Toy Story 4) secured, production capacity being expanded.

Seems positive but looks about fairly valued here to me.

Loungers ( £LGRS ) – 206p – £190m – PER 21

Results For The 12 Months To End 21st April 2019 – Revenue up 26.4% (LFL 6.9%), Operating Profit up 23.3%. Trading this year has started in-line as “we continue to outperform the wider hospitality market”.

First coverage here for me and looks OK for a recent IPO currently trading below it’s issue price – I personally will wait to see next years numbers before taking any stronger view here.

As always, all comment most welcome!

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