Morning All!
Once again, just the one update today in what is usually a quiet week…
Staffline ( Staffline (LON:STAF) ) – 1010p – £281.3m – PER 8.47
Trading Update For The Year Ended December 2017 – In-line, Revenue up circa 9% to £882.4m (in-line with market expectations) but slightly below (our) £1b target.
Looks reasonably priced here for those with an appetite for the sector – A technical Stop around the 950p level looks prudent.
Have a great day!
My morning smallcap tweet:
Corero Network Security (LON:CNS), WANdisco (LON:WAND), Staffline (LON:STAF), BNN Technology (LON:BNN)
BNN Technology (BNN) (suspended) Nomad resigns with effect from end 9 Jan. Another China shiner in the eye for AIM chief Marcus Stuttard.
Corero Network Security (CNS) wins two orders from N America worth total >$400k for 100Gbps SmartWall products and related one-year support services. "These customer wins mark an important milestone for our SmartWall product."
Wandisco (WAND) wins order worth $4.3m for WANdisco Fusion ("Fusion"), rebranded as IBM Big Replicate.
Staffline Group (STAF) FY trading 'in line with market expectations' even though rev 'slightly below our £1billion target', up 9% cf F/C 10.5% (£976m). So F/C is 2.5% below STAFF's target? Is that clear?
shares in Belvoir Lettings (LON:BLV) have been lower recently. Seem to have hit a bottom just before Christmas. The company is a franchisor of residential lettings brands, with the usual mix of some estate agency in there and some of the shops are their own. From time-to-time, Belvoir uses its dosh to support franchisees that want to expand their operations and we have a bit of an update on those activities today.
Belvoir lettings plc (AIM:BLV), the UK's largest property franchise, is pleased to report that it exceeded its 2017 target for portfolio acquisitions by its franchisees ('Assisted Acquisitions'), a core part of Belvoir's growth strategy.
https://www.investegate.co.uk/...
the business has enjoyed modest growth in recent years and, according to Stockopedia stats, the shares trade on a 2017 (Dec) P/E of 9.4, with an expected yield of 7%. There is some debt.
I was expecting a proper 'pre-close trading update' as in previous years but perhaps this statement means that we won't be getting one.
Asagi (no position)
