Morning all!
Avingtrans ( Avingtrans (LON:AVG) ) – 217p – £67.4m – PER 21.7
Preliminary Results For The 12 Months To End May 2018 – Driven by acquisition - Revenue is up 247% with PBT up 820% and Adjusted Diluted EPS up from 1.1p to 8.4p. Gone from having Cash (£26.4m) to Net Debt (£7.1m), which is fair enough. Dividend is increased slightly.
No conviction here either way as to how this is going to play out long term although this doesn’t look too bad – I remain Neutral for now.
Topps Tiles ( Topps Tiles (LON:TPT) ) – 62.7p – £123.2m – PER 9.93
Trading Update For The 52 Weeks To 29th September 2018 – Flat Revenue with FY Adjusted PBT to be slightly ahead of top end current expectations (£14.6m – £15.2m).
The yield could be tempting to some but I will remain Neutral as I don’t see much more than a pedestrian growth opportunity here at present.
Ramsdens Holdings ( Ramsdens Holdings (LON:RFX) ) – 163.5p – £50.4m – PER 9.22
Trading Update For The 6 Months To End September 2018 – In-line.
Sold out here in July 2018. I still believe there is some value here on a PER of 9 or so with a yield of 4.5% and EPS set to grow about 4% and 9% in the next couple of years. On my Watchlist as interesting at a potential bargain at a lower price than this.
SRT Marine Systems ( SRT Marine Systems (LON:SRT) ) – 25.5p – £35.3m – PER 10.3
Trading Update For The 6 Months To End September 2018 – Revenue up, Loss reduced. No mention of in-line, etc. (nada!).
There’s still nothing here to change my view from Neutral.
Wincanton ( Wincanton (LON:WIN) ) – 222.5p – £277.1m – PER 6.94
Trading Update For The 6 Months To End September 2018 – In-line.
On a PER of 7 or so with annual EPS growth forecast at 3% or so, there’s an almost 5% yield for those looking for income. It’s attractive…
