I Read The News Today Oh Boy! 3-Oct-2017

Tuesday, Oct 03 2017 by

Morning All!

AB Dynamics (ABDP)

Pre-Close Trading Update For The 12 Months Ended August 2017 – Revenue and PBT to be slightly ahead of analysts expectations. Order book is the largest it’s ever been. A good positive update for this company which is up 400% since being introduced in 2013. Worth noting though that it appears that analysts have been revising expectations down the past 12 months. Nevertheless this seems like positive stuff.

Hargreaves Services (HSP)

AGM Trading Update – An in-line statement with little other comment other than some directorate changes.


Pre-Close Trading Update For The 12 Months Ended September 2017 – Positive – Revenue expected to be £151m (forecast on Stockopedia was £145.5m). Debt has been reduced to around £50m (£59m previously) and the bookings for 2018 stand at £79m versus £58m in 2017. The board is confident in the future prospects – Expecting the market to like this update.


Preliminary Results For The 52 Weeks Ended 1 July 2017 Perhaps immaterial but LFL Revenues and Profits are both up, circa 10% or so – A takeover seems a done deal here.


Preliminary Results For The Year Ended 29 July 2017 – Seems in-line with (maybe slightly above) expectations.  I suppose the main takeaway is that the excellent (9%+) Dividend will be paid - This and the fact this update reflects small growth will probably see some interest here on a PER of 7.

St Ives (SIV)

Full Year Results For The Year Ended 28 July 2017 – Ouch! Revenues up 7% but Profits clobbered with the Loss Before Tax up from -£5.7m last time to -£44.1m this time. Dividend slashed. Surely this will be a set back to the price (or was the market expecting this!), which is up more than double from it’s lows – Following a profit warning at the beginning of the year (which knocked over 70% of the then price).

Wincanton (WIN)

Trading Update – An in-line statement with expectations for the full year statement – Although there will be an exceptional charge of (net) £5m in relation to cost-saving initiatives, which will be spread…

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AB Dynamics plc is a holding company, which is engaged in the provision of testing systems to the global motor industry. The Company is a designer, manufacturer and provider of testing and measurement products for vehicle suspension, brakes and steering to the global automotive research and development sector. Its geographical segments include the United Kingdom, Rest of the European Union, North America and Rest of the World. It designs and manufactures specialized testing systems to produce equipment for its customers to develop suspension, brake, chassis and steering systems; evaluate vehicle dynamics and safety systems on the track; employ driver in loop simulation for prototyping; develop and evaluate the next generation of safety systems in vehicles; test and evaluate the technology for use in future driverless cars/autonomous vehicles, and carry out end-of-line noise/vibration (NVH) testing of power train assemblies. more »

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Hargreaves Services plc is engaged in sourcing, producing, processing, handling and transporting carbon-based and other bulk materials throughout the United Kingdom and Europe. The Company's principal activities are the provision of haulage services, waste transportation, mineral import, mining and processing, together with specialist earthworks and related activities. Its segments include Coal Distribution, Industrial Services, Logistics and Specialist Earthworks. The Coal Distribution segment provides coal, coke, minerals, smokeless fuel and biomass products to a range of industrial, wholesale and public sector energy consumers. The Industrial Services segment provides contract management services to clients in materials handling and a range of other industrial sectors. The Logistics segment provides bulk logistics to customers across the United Kingdom. The Specialist Earthworks segment provides earth moving, civil engineering and infrastructure services across the United Kingdom. more »

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ITE Group plc is engaged in the organization of international trade exhibitions and conferences. The Company's geographical segments include Russia, Central Asia, Eastern and Southern Europe, Asia and Rest of the World. The Company specializes in producing exhibitions and conferences that advance business and economic development by connecting buyers and suppliers from around the world. Its events are a platform for commercial growth for a range of business opportunities, and for providing market knowledge and industry information. In addition to event programs, the Company provides a digital platform and product directory to connect professionals in the building and interiors sector called WorldBuild365 (www.worldbuild365.com). Its products range from specialist conferences to trade fairs. It offers services to sectors, such as food, drink and hospitality; travel and tourism; engineering and industrial; transport and logistics; security and protection, and healthcare and medical. more »

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

3 Posts on this Thread show/hide all

MrContrarian 3rd Oct '17 1 of 3

My morning smallcap tweet:

Ab Dynamics (LON:ABDP), ITE (LON:ITE), SCS (LON:SCS), Revolution Bars (LON:RBG), Tristel (LON:TSTL), Inland Homes (LON:INL)

AB Dynamics (ABDP) FY trading: rev & pretax slightly ahead of forecasts, before change to IFRS15 . Will adopt IFRS15, reducing rev to in line.
ITE Group (ITE) Q4 in line with management expectations. "Following the strategy update, the Group has been focusing on core market leading events and this has seen strong revenue growth which has offset the cancellation of smaller, non-core, low yielding events." Bookings for 2018 are 28% ahead and 18% ahead by volume.
ScS (SCS) FY rev up 5%. LFL orders down 0.4%. EPS 23.5p (21.8p). FY div 14.7p up 0.2p. Net cash £40.1m (£22.4m) partly due to working cap squeeze. Current trading in line.
Revolution Bars Group (RBG) Deltic still doing due diligence. Must involve testing the cocktails in each outlet five times.
Tristel (TSTL) US regulator approval now expected May 2018, not late 2017. "Approval will be followed by the state by state registration process and the Company's revenue expectations are not affected by this slight delay."
Inland Homes (INL) will buy back up to 1m shares in next 3 months.

I may have a position in any or all of the shares covered

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Asagi 3rd Oct '17 2 of 3

Seconded, matylda. I am surprised that ITE (LON:ITE) statement has not been taken better.

Asagi (long ITE)

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gus 1065 3rd Oct '17 3 of 3

On Revolution Bars (LON:RBG) , I'm not so sure these results are "immaterial" in the sense that Deltic has already indicated that it thinks the Stonegate offer is low ball. Given these figures seem slightly better than expected (albeit with unquantified noise that wet weather in September may have affected this quarter) this may increase the chances of Deltic either making its own cash bid or further pushing its ideas for a merger. Also, the RNS this morning is also explicit in commenting on the Deltic proposals (in the past its only really commented on Stonegate in its RNS) perhaps suggesting a more even handed approach to both sides. Either way, Deltic is required to make its position clear by October 10th.


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