I Read The News Today Oh Boy! 29-May-2018

Tuesday, May 29 2018 by

Morning all!

Renold ( Renold (LON:RNO) ) – 22.8p – £51.4m – PER 4.53

Preliminary Results For The 12 Months To End March 2018 – Revenue up slightly to £191.6m, Adjusted Operating Profit down slightly too (to £14.2m) with Adjusted EPS also down slightly at 4.5p. Outlook seems so so.

Pension still circa £100m mark (200% of the Mkt Cap), Dividend stopped – Remains on my Avoid list.

Kainos ( Kainos (LON:KNOS) ) – 387p – £458.0m – PER 30.7

Preliminary Results For The 12 Months To End March 2018 – In-line, Revenue up 16%, Profits up 8%, EPS up 10%, Dividend up 5%.

I said this at 327p and I still feel it’s appropriate - Although there’s a lot of positives here on a PER of 25+ (now 30) I expect to see a little more than in-line (and circa 10% Profit/EPS growth). Having said that, the ROCE and Operating Margin are great (as is the Order book level). On the fence so, as usual, when I get that feeling - I will remain Neutral for now.

As always, all comment most welcome!

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Renold plc is engaged in delivering engineered and power transmission products and solutions across the world. The Company's Chain segment manufactures and sells power transmission and conveyor chain and includes sales of torque transmission product through Chain National Sales Companies (NSCs). It has manufacturing sites in the United States, Germany, India, China, Malaysia and Australia. It also offers leaf chain used in the forklift trucks. Its Torque Transmission segment manufactures and sells torque transmission products, such as gearboxes and couplings. It is a manufacturer and developer of coupling and gearbox solutions, from fluid couplings to rubber-in-compression and rubber-in-shear couplings, and a range of worm gears, helical and bevel helical worm drives. It also manufactures gear spindles. The applications of conveyor chain include theme park rides, water treatment plants, cement mills, agricultural machinery, mining and sugar production. more »

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Kainos Group plc is a digital services company. The Company offers information technology products and services to clients in a range of markets, including government, healthcare and financial services. Its segments include Digital Services, Evolve and WorkSmart. The Digital Services segment delivers various system developments of customized online digital solutions for the United Kingdom government and private sector organizations. The Evolve segment is its software platform, which provides over two offerings to the healthcare markets: Evolve electronic medical records (EMR), which is used for digitization, storage and workflow of patient records, and is engaged in the digitization of patient notes in the Acute sector of the national health service (NHS), and Evolve Integrated Care, a cloud-based integrated care solution. The WorkSmart segment provides consulting, project management, integration, support and testing services. It provides software design and development services. more »

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

4 Posts on this Thread show/hide all

MrContrarian 29th May '18 1 of 4

Redstoneconnect (LON:REDS), Imaginatik (LON:IMTK), Akers Biosciences Inc (LON:AKR), Advanced Oncotherapy (LON:AVO), Safestyle UK (LON:SFE), ImmuPharma (LON:IMM)

RedstoneConnect (REDS) sells its Systems Integration and Managed Services divisions for £21.6m. Will focus exclusively on expanding the Company's Software business. Cap £18m.
Imaginatik (IMTK) exploring short term additional funding to progress the ongoing formal sale process. Aiming to announce the outcome of the process by the end of May.
Akers Biosciences (AKR) What a mess. Withdraws its initial 510(k) application for PIFA Chlamydia "in order to re-evaluate its options" upon a recommendation from the FDA. Gets Delinquent Form 10-Q Filing from Nasdaq due to late reporting. Raymond F. Akers Jr., Ph.D has resigned as a director. He was sacked as exec Chmn a month ago.
Advanced Oncotherapy (AVO) Somewhat misleading headline: "Successful testing supporting the superior clinical outcomes of LIGHT" Time of flight testing of beam energy control and adjustment show "remarkably good agreement with computer simulations." This is just acnecessary step to check the engineering.
Safestyle UK (SFE) get injunction against rival NIAMAC Developments (trading as Safeglaze UK) on alleged passing off, misuse of confidential information, unlawful means conspiracy and malicious falsehood. Also Chairman Peter Richardson resigns with immediate effect. "Peter assumed the role of Chair at short notice but it has become clear that the specific challenges currently facing the business and the time commitment required are beyond what he envisaged." Why isn't he staying until successor found?
Immupharma (IMM) trying to salvage Lupuzor after its shock Phase III trial failure. Data analysis and extension study continue.

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Asagi 29th May '18 2 of 4

things don't look too clever at Richoux (LON:RIC)


Revenue for the 53 week period ended 31 December 2017 decreased 17.4 per cent on the 52 week period ended 25 December 2016 to £11.00 million (2016: £13.32 million). Adjusted EBITDA before pre-opening costs, impairment, reorganisation costs and onerous lease provision decreased to a loss of £0.8 million (2016: £0.20 million). The adjusted operating loss before pre-opening costs, impairment, reorganisation costs and onerous lease provision was £1.34 million (2016: £0.63 million). The net loss for the period was £4.5 million (2016: £6.7 million).

This is (now) an £11m company. I cannot see Jonathan Kaye (Prezzo fame) pulling this around.

Asagi (no position)

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Techno Trousers 4th Jun '18 3 of 4

Noticed that Paul Scott purchased Renold (LON:RNO) for his Fantasy Fund, but this despite the BS being extremely weak as a result of the pension deficit. He seems to be letting the BS standards slip a tad perhaps? Anyway, I agree with your Avoid List, so be interesting to see how this one pans out. The upturn look interesting if it can be sustained.


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matylda 5th Jun '18 4 of 4

In reply to post #369659

Well, I am sure he has his reason - Can't fault the long term performance of BMUS :)

Blog: Briefed Up
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