Morning All!

Porvair ( Porvair (LON:PRV) ) – 532.78p – £243.1m – PER 27.6

Results For The 12 Months To End November 2017 – Record revenue of £116.4m (£109.4m last time), up 6%, PBT up 16% to a record £11.7m (£10.1m last time), EPS up 14%, Net cash at £9.8m (£13.6m last time) and the final dividend is up 12.5% to 2.7p per share. Made a promising start to the year.

Nice set of results but on this rating I would expect better than this. I remain Neutral here for now.

SThree ( SThree (LON:STHR) ) – 372p – £484.0m – PER 13.8

Results For The 12 Months To End November 2017 – Adjusted PBT up 9% to £44.5m (helped by FX, which if you strip out shows an under performance over last year of -3%), the final Dividend is maintained.

Stockopedia (StockRank 97) likes it more than I do.

EasyHotel ( easyHotel (LON:EZH) ) – 112p – £112.6m – PER 78.5

Trading Update – Strong trading continues and is in-line with the Board’s expectations.

I am still wary of this sector (with the rise of Airbnb and Booking). For sure I am not interested in paying up for an operator on a PER of 78.5.

Anpario ( Anpario (LON:ANP) ) – 493p – £114.0m – PER 29.9

Trading Update For The 12 Months To End December 2017 – In-line with Cash at £13.6m versus £11.1m last time.

Almost doubled in the past 12 months. Wish I’d spotted it back then when it was reasonably priced, looks expensive now to me.

Netcall ( Netcall (LON:NET) ) – 47p – £67.1m – PER 20.4

Trading Update For The 12 Months To End December 2017 – In-line.

Quite like this, it’s going on my Watchlist, 44p.

Sopheon ( Sopheon (LON:SPE) ) – 492.5p – £49.2m – PER 17.9

Trading Update For The 12 Months To End December 2017 – Expects revenues to be over $28m, up from $23m in 2016, and comfortably ahead of current market expectations. Expects…

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