Morning all!
Numis ( Numis (LON:NUM) ) – 374p – £396.6m – PER 13.7
Trading Update For The 12 Months To End September 2018 – FY Revenue up 3% - Many things blamed but basically Profits will be lower this year (than last year).
I bought into this after a great set of interims at the beginning of May but sold out within the same month. The reasons, 2 fold I suppose – The results had little impact on the subsequent price action and also, I decided that the Revenue was too “lumpy” (reliant on big contract wins). Today I also note that forecast Revenue growth for the next 2 years is <10% per annum and EPS growth <5% per annum - On a PER of 15 or so I would expect more (unless there's more hope for "lumpy" wins than I have). I remain Neutral.
Live ( Live (LON:LVCG) ) – 76p – £40.9m – PER n/a
Interim Results For The 6 Months To End June 2018 – Revenue up almost 50% (to £2.84m) and an Operating Profit of £503k (Operating Loss of -£391k last time).Progressing in China, North America and looking at a potential acquisition (to accelerate organic growth).
First coverage and it only caught my eye due to the impressive chart (it turned up on my Tech screen a while ago) and the move into Profit. It’s tempting but I remain Neutral for now, needs research.
As always, all comment most welcome!
