I Read The News Today Oh Boy! 28-Feb-2019

Thursday, Feb 28 2019 by

Morning all!

Arrow Global ( Arrow Global (LON:ARW) ) – 180p – £317m – PER 4.3

Preliminary Results For The 12 Months To End December 2018 – Record portfolio investments (£263.4m), Underlying PBT (EPS similar) up 13.3% (to £64.1m) with the Dividend up 12.4%.

Stockopedia still classes this as a "Speculative Value Trap" and I am still wondering if it’s worth speculating on! The Short interest though is rather off putting (at 10%+) but will these results perhaps trigger a squeeze. I think it's just too much of a coin flip for.

Foxtons Group ( Foxtons (LON:FOXT) ) – 61p – £168m – PER n/a

Final Results For The 12 Months To End December 2018 – Revenue down about -5%, LBT -£17.2m (£6.5m PBT last time), Adjusted Loss Per Share of -0.8p (Adjusted EPS of 2.6p last time) and the FY Dividend has been cancelled.

There's enough there to keep me on the side-lines for some time.

Gocompare.com ( Gocompare.Com (LON:GOCO) ) – 69.5p – £291m – PER 8

Preliminary Results For The 12 Months To End December 2018 – Revenue up 2.3%, Adjusted Basic EPS up 20% - With savings made by customers down -13.6% and interactions down -15.8%.

This is my first coverage. With Revenue flat, customer interaction down but EPS up, I will put it on the list for further analysis.

Morses Club ( Morses Club (LON:MCL) ) – 161p – £209m – PER 10

Trading Update For The 52 Weeks To The 23rd February 2019 – In-line with Board's expectations, expects to increase the FY Dividend.

Always quite liked this, decent growth and yield (4.5% or so). I reckon there's some value here however the potential risk of more regulation just makes me shy away from that Buy button.

Proactis Holdings ( Proactis Holdings (LON:PHD) ) – 113p – £108m – PER 9

Trading Update For The 6 Months To End January 2018 – EBITDA to be £8m (£8.5m last year) and unlikely to report significant growth for the remainder of the year. Net Debt at £40m.


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Arrow Global Group Plc is a United Kingdom-based company engaged in purchase, collection and servicing of non-performing loans. The Company identifies, acquires and manages secured and unsecured defaulted loan portfolios from financial institutions, such as banks and credit card companies, as well as retail chains, student loans, motor credit, telecommunication firms and utility companies. The Company's business activities can be divided into three broad phases: Origination and underwriting, Asset management and Repayment-hybrid collections mode. The Company purchases debt at a discount from its face value and use its knowledge in data, analytics, collections, and asset resolution to help establish repayment plans and settlements with its customers. It advises and manages debt portfolios. more »

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Foxtons Group plc is a United Kingdom-based company, which operates as an estate agent. The Company and its subsidiaries are engaged in the provision of services to the residential property market in the United Kingdom. It operates through three segments: Sales, Lettings and Mortgage Broking. The Sales segment generates commission on sales of residential property. The Lettings segment earns fees from the letting and management of residential properties and income from interest earned on tenants' deposits. The Mortgage Broking segment receives commission from the arrangement of mortgages and related products under contracts with financial service providers and receives administration fees from clients. The Company offers its residential property sales and lettings services through its network of approximately 60 branches. It offers independent mortgage advice and other related services through Alexander Hall. It offers corporate services, property management and other services. more »

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Goco Group PLC, formerly Gocompare.com Group plc, is a holding company. The Company's principal activity is providing an insurance price and product comparison Website. Its segments include Insurance and Strategic Initiatives. It operates a United Kingdom-based price and product comparison Website, Gocompare.com. Gocompare.com offers an online service that enables consumers to compare the prices and features of products. The comparison services provided under the Insurance segment include over 400 brands and are split into three categories: motor, property and other. The Company operates its own Website platform for car, motorbike, van, home and pet insurance comparison services, displaying a range of products offered by its panel of insurers. The products compared under the Strategic Initiatives segment include over 250 brands and are split into three categories: money, home services and other. The Company's subsidiaries include Gocompare.com Finance Limited and Gocompare.com Limited. more »

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

1 Post on this Thread show/hide all

MrContrarian 28th Feb 1 of 1

My morning smallcap tweet: TEF leads way on housing downturn

Telford Homes (LON:TEF), Intercede (LON:IGP), Foxtons (LON:FOXT), Byotrol (LON:BYOT), Modern Water (LON:MWG)

Telford Homes (TEF) warns FY pretax will be bottom end of guidance at £40m ."Programme delay of six months at City North, outside of the Group's control, expected to defer £15 million of profit between FY 2020 and FY 2021 such that profit before tax in FY 2020 is anticipated to be significantly below FY 2019." Increased strategic focus on build to rent - less debt but lower margins too. Major builders are still inceasing profit.
Intercede Group (IGP) $0.5m order for MyID credential management software. Some rev will fall in next FY.
Foxtons (FOXT) FY rev £111.5m down 5%. F/C £108m. Adj EPS -0.8p (2.6). Div nil. Sales down 15%, lettings good. "The outlook for sales remains unchanged with a range of factors, including political uncertainty, likely to contribute to ongoing low transaction levels in the short to medium term." SP up 20% in a week! Is that anticipating Brexit delay? I'm short.
Byotrol (BYOT) US approval for improved versions of its 24-hour germ-kill surface sanitizer, 'Byotrol24'. What's the USP? "Newly-developed long-lasting fragrances to give a strong sensory cue to consumers that the product continues to work for 24 hours."
Modern Water (MWG) warns FY loss will be slightly greater than market expectations due to weak membrane division.

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