I Read The News Today Oh Boy! 3-May-2018

Thursday, May 03 2018 by
17

Morning all!

Trinity Mirror ( Trinity Mirror (LON:TNI) ) – 86.5p – £258.9m – PER 2.38

Trading Update For The 4 Months To End April 2018 – In-line (although everything seems down), Net Debt £85m (before payment of £10m Dividend), expects 2018 will be another year of progress.

Still quite a few negatives here - The Pension Deficit, the terminal decline of the print sector and the integration of Northern and Shell. The Dividend now equates to about 7% and it’s unloved on a PER of 2.38. This is a bit of a tricky update to fully understand so although this was on my Watchlist at 70p, for now I am going to go Neutral.

Elektron Technology ( Elektron Technology (LON:EKT) ) – 28p – £52.1m – PER 73.3

Final Results For The 12 Months To End January 2018 – Net cash £5.2m (2017: £1.0m), Revenues up 11.2% to £29.8m (2017: £26.8m), Operating Profit £2.6m (2017: loss £0.6m).

I’m still not getting the story here for some reason. No mention of forecasts in this update and no broker notes either (that I can find). There is this statement “The Board's visibility does not extend beyond the first half and so remains cautious on second half performance due to potential economic uncertainty”. I just find it hard to pull the trigger on a stock with a PER of 73.3 with so little information.

Van Elle Holdings ( Van Elle Holdings (LON:VANL) ) – 81.5p – £65.2m – PER 7.13

Year End Trading Update (To End April 2018) – This looks like a miss (PBT to be £10.5m) by I reckon, about 25% (based on Stockopedia 2018E £10.4m Net Profit (my rough calculation being, add 25% for 20% Corp Tax).

Too much doubt here, I remain Neutral.

As always, all comment most welcome!

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Reach plc, formerly Trinity Mirror plc, is a national and regional news publisher. The Company is engaged in producing and distributing content through newspapers and associated digital platforms. It operates through four segments: Publishing, which includes all of its newspapers and associated digital publishing; Printing, which provides printing services to the publishing segment and to third parties; Specialist Digital, which includes its digital recruitment classified business and its digital marketing services businesses, and Central, which includes revenue and costs not allocated to the operational divisions. The Publishing segment publishes paid-for national newspapers and paid-for and free regional newspapers, and operates a portfolio of related digital products. The Printing segment operates five print sites with approximately 20 full color presses. Trinity Mirror Digital Recruitment operates three specialist job boards: GAAPweb, TotallyLegal and SecsintheCity. more »

LSE Price
75.5p
Change
-1.7%
Mkt Cap (£m)
229.8
P/E (fwd)
2.0
Yield (fwd)
8.5

Elektron Technology plc is a holding company. The Company is engaged in designing, manufacturing and marketing products that connect, monitor and control. It operates in two segments: Connectivity, and Instrumentation, Monitoring and Control (IMC). Connectivity comprises two complementary product families: Bulgin and Arcolectric. The Company's products are helping its customers to quantify real-world environments, process this data and act on the results. Its products include sealed connectors, Switches, indicators, battery, fuseholders, ophthalmic instruments, nanopositioning and sensing equipment, and vehicle power management systems. The Company's Checkit offers a wireless solution providing work management software and automated monitoring. Its subsidiaries include Elektron Technology Corporation, Elektron Technology PTE Ltd, Elektron Technology UK Ltd and Elektron Technology (Shanghai) Trading Limited. more »

LSE Price
51p
Change
 
Mkt Cap (£m)
94.9
P/E (fwd)
16.1
Yield (fwd)
n/a

Van Elle Holdings plc is a geotechnical engineering contracting company. The Company offers end-to-end solutions, including site investigation, driven, bored, drilled and augered piling, and ground stabilization services. It also develops, manufactures and installs precast concrete products for use in specialist foundation applications. It operates through four segments: General Piling, which is involved in open piling on brown and green field sites, particularly on new housing and new development sites; Specialist Piling, which is involved in installing piles where access to the area is restricted or specialist techniques are required; Ground Engineering Services, which is involved in providing site investigation, soil sampling drilling, grouting and soil nailing techniques to consolidate ground conditions, and Ground Engineering Products, which manufactures and installs modular precast concrete beams, primarily to the new housing market. more »

LSE Price
55p
Change
2.8%
Mkt Cap (£m)
42.8
P/E (fwd)
7.9
Yield (fwd)
5.7



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


5 Posts on this Thread show/hide all

MrContrarian 3rd May '18 1 of 5
3

My morning smallcap tweet:

Charles Taylor (LON:CTR), Van Elle Holdings (LON:VANL), Midatech Pharma (LON:MTPH)

Charles Taylor (CTR) major contract win. Acquisition for $22.5m + $28m earn out. Placing of £17.6m by book build.
Van Elle (VANL) guides FY pretax £10.5m due to weather (natch'), Carillion, weak piling mkt. F/V £10.4m. Bad debt charge will be £1.0m (rather than £1.6m guided). New CEO from Balfour Beatty in Oct or sooner. Previously RNS'd CEO leaving.
Midatech Pharma (MTPH) not aware of any reason for the price spike. Reiterates previous guidance on funding and R&D.

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andrea34l 3rd May '18 2 of 5
1

Agreed, Elektron Technology (LON:EKT) sounds far too cautious, it seems there is too much scope for future profit warnings.

Symphony Environmental Technologies (LON:SYM) have announced a new product launch, with the price up as expected (+0.5p):

Symphony Env...  is pleased to announce the launch today, of the first latex antimicrobial examination glove made with d2p technology.Working with Health & Hygiene Ltd (British) and Biomax Rubber Industries of Malaysia ("Biomax"), the collaboration agreement was signed on 2 February 2018.Health & Hygiene Limited are incorporated in the UK and have been working with Symphony for some time on several projects.   The antimicrobial examination gloves will be sold under the newly registered 'Protector Health & Hygiene' ("Protector®") brand. 

The gloves are the first product launched in what is planned to be a full range of antimicrobial disposable healthcare products including face masks, caps, shoe covers, surgeon gowns, lab coats, isolation gowns, bed and pillow covers and hospital waste bags containing d2p technology.

Dalata Hotel (LON:DAL) the Irish-owned hotel group continues to do well... and I continue to have watched the price go up and up from below 500 :-( The price is slightly off today, though, after what I feel was a rise in advance of the AGM:

Following another very successful year in 2017, trading performance in the first four months of 2018 has been a little ahead of our expectations.

RevPAR growth in our Dublin properties has been marginally ahead of our expectations. RevPAR growth in Regional Ireland properties is in line with expectations. STR have reported weaker market conditions in the UK for Q1 2018 but we continue to outperform the market in terms of RevPAR growth and the performance of our UK properties is in line with our expectations. Management is very satisfied with the trading performance of the Group's hotel portfolio in the first four months of the year. The outlook for the first six months of the year is positive.

This AGM statement from Johnson Service (LON:JSG) (leading UK textile services provider) looks promising; the balance sheet is quite weak though after so many acquisitions:

Following substantial growth in 2017, year to date trading has been strong reflecting an encouraging underlying performance together with the benefit of acquisitions over the last twelve months. We expect the full year results for 2018 to be slightly ahead of current market expectations.

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matylda 3rd May '18 3 of 5
1

In reply to post #360573

Thanks as always for the analysis.

Symphony Environmental Technologies (LON:SYM) is tempting for sure, even on a PER +50.

Blog: Briefed Up
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tic_tac_toe 3rd May '18 4 of 5

In reply to post #360598

are you on twitter by chance?

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Beginner 6th May '18 5 of 5
1

In reply to post #360573

Problems may lay ahead for Dalata Hotel (LON:DAL) . There is still oversupply in the Irish hotel market, especially outside Dublin. Staff shortages are occurring. The UK leaving the EU will probably dent the Irish economy more than any other. Possible strengthening of the Euro may inhibit trade. At a PER of c16 and with no dividend, this may well be very fairly priced at the moment.

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