I Read The News Today Oh Boy! 28-Mar-2018

Wednesday, Mar 28 2018 by

Morning all!

Inland Homes ( Inland Homes (LON:INL) ) – 62.5p – £125.8m – PER 7.86

Interim Results For The 6 Months To End December 2017 – NAV up 13.6% and PBT up about 10% to £5.37m, the Final Dividend is up 30% (0.65p). The current order book is £38.9m (£31.8m last time). Outlook “in a strong position”.

Still like this and it probably represents decent value here. Just can’t persuade myself to ignore the huge Debt here (well over 50% of the current Market Cap).

North Midland Construction ( North Midland Construction (LON:NMD) ) – 290p – £29.4m – PER 9.37

Final Results For The 12 Months To End December 2017 – Revenue £291.77m (up 16.5%), Underlying PBT £8.30m (up 40.4%), Secured workload circa £299m (£225m last time), about 90% of 2018 budgeted revenue, Total Dividend 6.0p (4.5p last time). Cash £17.01m (£11.41m last time). Outlook is positive.

Still like this company but there is still some legal dispute outstanding and I have no idea what the impact will be (could take 12 months to resolve). With that unknown I have to remain on the side-lines for now.

DFS Furniture ( DFS Furniture (LON:DFS) ) – 170p – £359.8m – PER 8.75

Results For The 26 Weeks To 27 January 2018 – In-line, Interim Dividend maintained - Market continues to be challenging.

That Dividend (surprised it’s been maintained to be honest) at 6%+ is attractive but I still can’t get myself interested here.

AD Dynamics ( Ab Dynamics (LON:ABDP) ) – 878p – £170.2m – PER 22.6

Trading Update For The 6 Months To End February 2018 – Expected to be significantly ahead and in-line with management expectations.

Encouraging update and it’s already on my Watchlist- If I don’t open a position here this morning I will leave it on my Watchlist at 850p.

Tracsis ( Tracsis (LON:TRCS) ) – 510p – £144.0m – PER 20.8

Interim Results For The 6 Months To End January 2018 – Revenue up 16% to £18.1m (2017: £15.6m), Statutory PBT up 33% to £2.4m…

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DFS Furniture plc is an upholstery retailer in the United Kingdom. The Company is engaged in designing, manufacturing, selling, delivering and installing a range of sofas, and other upholstered and furniture products. The Company's segment is engaged in the retailing of upholstered furniture and related products. Its other segments comprise the manufacture and distribution of upholstered furniture. The Company offers approximately 10 unit types per range, and a range of materials with approximately 50 colors available. Its branded upholstery ranges include Capsule Collection and Grand Tour. The Company operates approximately 100 retail stores in the United Kingdom, the Republic of Ireland and the Netherlands, an online channel, and approximately three upholstery factories in the United Kingdom. The Company's subsidiaries include Diamond Holdco 2 Limited, Diamond Holdco 7 Limited, DFS Furniture Holdings plc, DFS Furniture Company Limited and Coin Retail Limited (Jersey). more »

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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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Inland Homes plc is a United Kingdom-based company, which is principally engaged in acquiring residential and mixed-use sites and seeks planning consent for development. The Company develops a number of the plots for private sale and sells consented plots to house builders. The Company's segments include Land, House Building, Contracting, Hotel, Investments, Investment property and others. The Company is a developer of urban regeneration projects around Southern England, with a particular emphasis on residentially led mixed-use schemes on brownfield sites. The Company's land portfolio consists of approximately 6,680 plots with the majority in the South and South East of England. The Company's portfolio consists of both brownfield and strategic sites. The Company's projects include Wilton Park, Beaconsfield, Meridian Waterside Southampton and Buckinghamshire. The Company's land portfolio includes Famborough, Woolwich and Bushey. more »

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

6 Posts on this Thread show/hide all

MrContrarian 28th Mar '18 1 of 6

My morning smallcap tweet:

Boxhill Technologies (LON:BOX), £C21, Action Hotels (LON:AHCG)

Boxhill Technologies (BOX) trading - a warning? Rev from Emexpay and Emexgo from October to January has averaged £120K pcm. "While there have been some successful transactions to date, these have been at the relatively lower category...expects improvement on this as the High Value Transfer Service starts to gain traction....The large nine figure transaction referred to previously in the announcement of 28 July 2017 is still live but also presents challenges for some of our banking partners with whom we continue to work closely."
21St Century Technology (C21) FY EPS -0.38 (-2.47). Underlying profit £11k (-£1,397k) in-line with management expectations. Outlook - entered 2018 with a significantly stronger order book than last year.
Action Hotels (AHCG) Fesses up to having related party loan g'tees. Loans total $177m guaranteed by the Al Sabah family or Action Group Holding Company. Paid $1.2m last FY and anticipates paying up to $2.6mthis FY for the Guarantees. Sheikh Mubarak Al Sabah is a director.

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matylda 28th Mar '18 2 of 6

In reply to post #346428


Might be your bag, not sure if it is or not...

Was half expecting you to comment on Norish (LON:NSH) this morning - interims - Just caught it out the corner of my eye and thought of you - Looked quite interesting but below my Mkt Cap of £30m - Got it noted on a yellow sticky for now.

Blog: Briefed Up
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mrosbiston 28th Mar '18 3 of 6

thing for me on Norish (LON:NSH) is the extremely wide spread and low trading volume. I had a good look at the stock at 70p, even now i'd be just about break-even.

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matylda 28th Mar '18 4 of 6

In reply to post #346553

Yep - One of the reason I normally avoid <£50m Mkt Cap and almost always <£30m

Blog: Briefed Up
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tony akram 28th Mar '18 5 of 6

Hi Matylda

Still like this and it probably represents decent value here. Just can’t persuade myself to ignore the huge Debt here (well over 50% of the current Market Cap).

I have a small holding in INL but I could not find the debt you were referring to could you point me in the right direction ? It did look over today update Thanks

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matylda 28th Mar '18 6 of 6

In reply to post #346578

Net Debt £m 13.2 26.1 50.2 58.4 76.9 88.1

From Stockopedia £88.1m Debt - But to be honest I could find no reference in the update today.

I had to have a quick look back to last full results "borrowings have increased from 71.3 million to 94.5 million"


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