Morning all!
Cohort ( Cohort (LON:CHRT) ) – 365p – £149.5m – PER 11.9
Final Results For The 12 Months To End April 2018 – Revenue flat (£111.8m), Profits and EPS up about 7% with the Dividend up 15%. States in-line but looks like a slight miss here with the forward Order book confirmed at -25% on last year.
I’m no more interested here today than I was yesterday.
Solid State ( Solid State (LON:SOLI) ) – 315p – £26.8m – PER 12.5
Final Results For The 12 Months To End March 2018 – Revenue is up 16% to £46.3m with Adjusted PBT down -4% to £3.0m (margins are down slightly), Adjusted Diluted EPS down -2% to 30.9p with the Dividend flat at 12.0p. The order book is about 10% up on last year and on track to deliver in-line with expectations.
Can’t see this being any more than fairly priced here.
RM ( RM (LON:RM.) ) – 225p – £186.0m – PER 9.44
Interim Results For The 6 Months To End May 2018 – Revenue +33.1%, Adjusted PBT +25.9% and Adjusted EPS +7.4%. The Interim Dividend is up 15% and the board is confident of at least meeting FY expectations.
I still like this and am going to revise my Watchlist price to 200p, may even consider paying up some time this month – On a PER of 9.44 it seems decent value.
Costain ( Costain (LON:COST) ) – 431.5p – £459.1m – PER 11.4
Trading Update For The 6 Months To End June 2018 – In-line.
A I mentioned previously, I quite like this but find it difficult to see where any real growth can come from at present – Seems trapped (perhaps rightly) below that 500p level.
McBride ( McBride (LON:MCB) ) – 132p – £241.0m – PER 8.84
Trading Update For The 12 Months To End June 2018 – FY PBT to be marginally below the lower end of analyst expectations.
Remains on my Avoid list.
As always, all comment most welcome!
