Morning All!

Ilika (IKA)

AGM Statement – 1st Quarter Trading in-line with the boards expectations. This company has never made a Profit and is not forecast to do so until at least 2020. The only bright side is it’s got Cash, perhaps enough to see it through to profitability – Perhaps not!


AGM Statement and Trading Update – Trading ahead of the same period last year in-line with the boards expectations – Outlook for the year remains in-line with the boards expectations. Seems be a slow and steady grower with a good ROCE (10.2%) for the sector and a nicely covered 3.5%+ Dividend. On a PER of 11 looks like a reasonable income play with potential for upside surprise on the growth side.

Moss Bros (MOSB)

Interim Results For The 6 Months Ended July 2017 – Revenue up 4.3% with PBT up 15.7% and the interim Dividend up 6.3%.  A mostly in-line update for a company with decent annual increases in Revenue, Profits and Dividends. The ROCE is a healthy 16.3% and there’s Cash too (about 20% of Mkt Cap). The yield is great (circa 6%) but not exactly well covered. On a PER of 16.9 I think it’s probably fair value here.

Harvey Nash (HVN)

Interim Results For The 6 Months Ended July 2017 – An in-line update – Revenue up 12.6%, PBT up 16.8% with the interim Dividend up 5%. On a PER of 7.18 with a well covered yield of 4.5%+ seems like a decent investment for those with more faith in the sector than me.

VP (VP.)

Trading Update – Trading is in-line with the boards expectations. On a PER of 10 land EPS CAGR at 15% - Looks reasonable value here.

London Capital Group (LCG)

Interim Results For The 6 Months Ended June 2017 – Revenue slightly up and Losses halved. A good sign for this Loss making Spread betting company – But the customer service is shocking. Based on personal experience I am not surprised they are Loss making – It would take a lot for me ever to invest here.

CMC Markets (CMCX)

H1 2018 Trading Update – Seems to…

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