Morning all!
Plastics Capital ( Plastics Capital (LON:PLA) ) – 104.5p – £40.7m – PER 8.65
Interim Results For The 6 Months To End September 2018 – In-line and expecting FY to be in-line.
Still not interested here (on my Avoid list) mainly due to that Net Debt (30%+ or so of Mkt Cap and more than 3x greater than PBT).
ULS Technology ( ULS Technology (LON:ULS) ) – 77.4p – £50.2m – PER 11.7
Interim Results For The 6 Months To End September 2018 – Revenue up 3% to £15.79m (H1 2017: £15.28m), Underlying PBT up 6% to £2.89m (H1 2017: £2.74m), Adjusted Basic EPS up 7% to 3.73p (H1 2017: 3.49p), Net Debt stands at £3.4m (FY 2017: £2.3m) and the Interim Dividend is up 4%.
I sold out here in July and am not yet tempted to re-enter.
McColl’s Retail ( McColl's Retail (LON:MCLS) ) – 118.75p – £136.8m – PER 7.11
Q4 And FY Trading Update – Revenue down -0.5% in Q4 (FY up 8.3%), Net Debt materially lower than expected at around £100m but, “in light of transitional challenges and continued difficult trading conditions, adjusted EBITDA for FY18 now expected to be around £35m”.
Not sure what EBITDA was supposed to be but this wording suggests it will be worse than expected. There’s still no investment case here for me at present.
As always, all comment most welcome!
