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

Tuesday, May 28 2019 by
15

Morning all!

AFH Financial ( AFH Financial (OFEX:AFHP) ) – 311p – £133m – PER 9.3

Results For The 6 Months To End April 2019 – Revenue up 61%, PBT up 80%, EPS up 49%, FUM up 68% - Strong outlook and re-confirms 3-5 year targets, FUM of £10bn, Revenue of £140m and EBITDA margin of 25%.

I remain Long here and have no idea why this is still on a single digit PER, perhaps I have missed something!

Altitude ( Altitude (LON:ALT) ) – 116p – £80m – PER 15.7

Results For The 12 Months To End December 2018 – Revenue up from £6.1m to £6.6m, LBT of -£2.8m (Profit of £0.1m last time), Net Cash at £3.8m.

Results 5 months after year end is a little strange, loss making, no clear outlook given – I will be staying away here for now.

DX Group ( DX (Group) (LON:DX.) ) – 16p – £92m – PER 26.2

Trading Update – Comfortably on track to deliver FY market expectations.

From the forecasts I can see this means a loss so I will wait until I see the actuals here.

Renold ( Renold (LON:RNO) ) – 29p – £65m – PER 5.6

Results For The 12 Months To End March 2019 – Revenue up about 5% (£202.4m), Statutory Operating Profit up almost 200%, EPS up about 10% with Net Debt at £30m.

I still see attractions here but that Net Debt (amost 50% of current Market Cap) keeps me away.

As always, all comment most welcome!

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AFH Financial Group Plc is an Independent Financial Advisor and Discretionary Investment Manager. The Company is a financial planning led wealth management firm. It offers a range of wealth management and financial planning services to its clients, including but not limited to investment management; pension and retirement planning; tax and inheritance planning; life cover and family protection, and mortgages. In addition, the Company offers Discretionary Investment Management services and operates two funds, the MGTS AFH Tactical Core Fund and the MGTS St Johns High Income Property Fund, which supports the Company's investment management offering to its clients. It provides wealth management advice and services to the mass affluent and high net worth private client market in the United Kingdom, as well as to a number of companies. more »

LSE Price
305p
Change
1.0%
Mkt Cap (£m)
130.3
P/E (fwd)
8.8
Yield (fwd)
3.2

Altitude Group plc is a technology and information business providing services to the promotional merchandising and print industries across North America and the United Kingdom. The Company operates through Technology & Information segment that enables the buyers and sellers of products to interact and trade, through the provision of technology, catalogues and exhibition services, in the promotional merchandising and printing sectors. The Company provides technology services, specializing in cloud and server based software. Its Technologo offers a range of interactive image solutions, which are used for increasing engagement from online business-to-business (B2B) and business-to-consumer (B2C) buyers, and reduced cart abandonment rates. It also provides a Website solution for companies in the promotional product industry. It publishes catalogues annually for the promotional products industry, which include Spectrum and Envoy. It also hosts the Promotional Product Roadshows. more »

LSE Price
100p
Change
 
Mkt Cap (£m)
68.8
P/E (fwd)
8.1
Yield (fwd)
n/a

DX (Group) plc is engaged in the provision of parcels, mail and logistics services in the United Kingdom and Ireland. The Company's segments include parcels and freight, mail and packets, and logistics. The parcels and freight segment offers services, such as DX 1-Man, engaged in the delivery of irregular dimension and weight items; DX Courier, which provides next day parcel services, and DX 2-Man, which offers a business to consumer home delivery solution for heavier and bulkier items. The mail and packets segment comprises services DX Exchange, a business to business (B2B) mail service providing its customers with collection and delivery times; DX Secure, which provides security, and DX Mail, a mail service offering downstream access for smaller volume users. The logistics segment includes the provision of customer-liveried vehicles and uniformed personnel, such as fleet management solutions and integration with customer's business operations. more »

LSE Price
12.25p
Change
 
Mkt Cap (£m)
70.3
P/E (fwd)
17.5
Yield (fwd)
n/a



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


3 Posts on this Thread show/hide all

MrContrarian 28th May 1 of 3
2

My morning smallcap tweet: Own-Goals Soccer Centres still targetting own net

Albert Technologies (LON:ALB), Goals Soccer Centres (LON:GOAL), Inspiration Healthcare (LON:IHC), DX (Group) (LON:DX.), Diurnal (LON:DNL)

Albert Technologies (ALB) warns FY rev unlikely to reach current market expectations. Blames longer ramp up time with the Enterprise clients.
Goals Soccer Centres (GOAL) Double trouble. Guides FY18 and 19 'materially below expectations and historically reported financial performance'. "As a result of the investigation into historic accounting treatments, the Board is mindful that it may not be in a position to complete its full year 2018 audit by the 30 June 2019." Remains suspended.
Inspiration Healthcare (IHC) NPXe plc (IHV has 8%) is no longer looking to IPO in the UK but is pursuing a private offering in the USA. UK Investors remain able to participate in this private offering which is eligible for EIS/VCT relief.
DX Group (DX.) Loses Passport Office delivery contract from Jan 2020. This FY unaffected and FY20 still in line with EBITDA of £7.7m and rev of £328m due to improved trading.
Diurnal Group (DNL) placing and open offer at 26p, a 16% discount.

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john652 28th May 2 of 3
1

PHi Mr C,

Re Altitude (LON:ALT), jury out for me on this, I think CEO is inexperienced in dealing with results for the market, as is chairman but the narrative in the report is a mess. It’s hard to follow, very wordy, not clear what service, software, revenue stream relates to what. The only mention of kpi’s Is saying what was their main KPI now longer is relavent!! Ffs! At Mello they have numerous slides on ‘think promo now’, a big service, but now no mention of it, very poor. There might be a big opportunity hidden in here but no clear number, as KPI’s in a table, showing previous and current numbers for members, users etc is an amateur error, or worse. Poor.

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matylda 28th May 3 of 3
2

In reply to post #478771

Have to agree - The Altitude (LON:ALT) reporting is terrible.

Blog: Briefed Up
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