Morning all!
Eddie Stobart Logistics ( Eddie Stobart Logistics (LON:ESL) ) – 98p – £372m – PER 7.3
Results For The 12 Months To End November 2018 – Revenue up 35%, Operating Profit up 21% (before exceptionals), Net Debt up from £109.5m to £159.7m, Adjusted EPS up 16.3% (to 11.4p, 9.8p last time). New has started in-line.
I still think there may be value here with that 5%+ yield but will surely be dependent on a favourable Brexit outcome. Tempting but will watch from the side-lines for now.
Fulcrum Utility Services ( Fulcrum Utility Services (LON:FCRM) ) – 34.25p – £75.8m – PER 7.4
Trading Update – Looks like a mild Profit warning with a 10% or so miss.
As an ex-holder I am not yet tempted back in here.
Fulham Shore ( Fulham Shore (LON:FUL) ) – 11.25p – £64.3m – PER 167.9
Year End Trading Update – In-line, considering Dividend.
Still seems to be heading in the right direction however the sector remains out of favour. I'm not quite tempted into the sector just yet.
NMCN ( NMCN (LON:NMCN) ) – 695p – £70.5m – PER 8.5
Results For The 12 Months To End December 2018 – In a morning haste, not very easy to work out what's going on here, I picked this out " Results overall for the year were marginally better than the Board's expectations. Profit before tax amounted to £6.03 million (2017 restated: £9.11 million)".
Been watching this since is was half this price – What stops me buying in is the complete lack of any forecast data.
Scisys ( Scisys (LON:SSY) ) – 170p – £50m – PER 12.7
Results For The 12 Months To End December 2018 – Comfortably in-line with Revenue up 10%, Adjusted Basic EPS up 40% or so, Final Dividend up 10%, Net Debt down from £5.9m to £3.1m and the Order Book up 10% or so.
Still looks good, will be keeping an eye out for Broker updates here today.
Volex (
My morning smallcap tweet:
Pelatro (LON:PTRO), Volex (LON:VLX), Forbidden Technologies (LON:FBT), Debenhams (LON:DEB)
Pelatro (PTRO) wins £0.7m contact, recognised this FY.
Volex (VLX) guides FY ahead of market expectations Rev at least $365m up 13%. Intends to resume dividend.
Forbidden Technology (FBT) FD leaves 2 April "leaving the Company to pursue other opportunities after an appropriate handover period." He is not thanked.
Debenhams (DEB) majority of holders of 5.25% Senior Notes due 2021 have provided consent to the amendments needed for refinancing. No response to Mashley's 5p offer. I'm short.
I took the plunge with Volex (LON:VLX) once the price settled as it looks like their turnaround is really taking shape and the rating is low.
I have a residual holding in Scisys (LON:SSY) and I am tempted to sell today after these results. I don't think revenue +10% and operating profit +15% are anything to write home about in this industry, operating margin is very low, and cash inflow is lower than last year. Perhaps the price drop has something to do with this....
When I saw your mention of Fulcrum Utility Services (LON:FCRM) I was reminded of my former holding in the stock which made me feel a bit of an idiot... until I realised that I had wisely sold out at 62p (albeit with a little loss) and the price is now 34p!!! Gulp!