I Read The News Today Oh Boy! 30-Jul-2018

Monday, Jul 30 2018 by
16

Morning all!

Dialight ( Dialight (LON:DIA) ) – 466p – £151.5m – PER 12.9

Interim Results For The 6 Months To End June 2018 – Revenue down from £92.7m to £80.1m with Underlying (and Statutory) Profit and EPS both halved to £2.8m and 6.4p respectively. Net Cash is down from £12.7m to £7.3m. As previously guided, FY results will be heavily H2 weighted.

Remains on my Avoid list for now.

Reach ( Reach (LON:RCH) ) – 72.8p – £217.9m – PER 1.94

Financial Report For The 26 Weeks To The 1st July 2018 – Revenue up 10% with a Statutory Loss of £107.3m (£150.0m impairment charge). Pension deficit is down from £80.6m to £297m and the Interim Dividend will be paid, 2.37p versus 2.25p last time. FY in-line with market expectations.

I just can’t get away from the Pension Deficit, the terminal decline of the print sector although some might fancy the 8% yield! I will remain Neutral for now.

Luceco ( Luceco (LON:LUCE) ) – 37p – £59.5m – PER 5.16

Trading Update For The 6 Months To End June 2018 – Expects FY to be break-even.

This sounds woeful and remains on my Avoid list for now.

Clipper Logisitics ( Clipper Logistics (LON:CLG) ) – 405p – £411.1m – PER 21.3

Preliminary Results For The 12 Months To End April 2018 – Revenue up by 17.6% from £340.1m to £400.1m, Profit up by 14.6% from £12.5m to £14.3m with EPS up by 13.6% to 14.2p (2017: 12.5p). The Dividend is up 16.7% to 8.4p (2017: 7.2p).

Still quite like this but going to go Neutral here as it seems to be priced about right for now.

City Pub ( City Pub (LON:CPC) ) – 231p – £135.1m – PER 25.9

Acquisitions Update – Bought 3 new pubs from existing resources, pipeline of potential deals remains strong – Confident of 50 pubs (at buyers prices) by the year end, ahead of the plan set out in the IPO.

I remain Neutral here but will add it to my Watchlist to do more research – Looks quite interesting.

Nasstar ( Nasstar (LON:NASA) ) – 11.75p – £67.5m – PER 19.6

Trading Update For The 6 Months To End June 2018 – Confident FY will be in-line with management expectations.

First time I have looked at this and it looks interesting enough. Perhaps fairly priced here so will remain Neutral but will keep an eye out for those results.

As always, all comment most welcome!


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Dialight plc is a holding company. The Company manufactures and sells lighting products in the industrial market. It operates through two segments: Lighting, and Signals and Components. Its Lighting segment develops, manufactures and supplies light emitting diode (LED) lighting solutions for hazardous and industrial applications, and includes anti-collision obstruction lighting. Its Signals and Components segment develops, manufactures and supplies status indication components for electronics original equipment manufacturers, together with industrial and automotive electronic components and LED signaling solutions for the traffic and signals markets. Its LED lighting solutions include Vigilant Industrial Solutions, DuroSite Industrial Solutions and StreetSense Infrastructure Solutions. Its LED signaling solutions include transportation signals, obstruction signals and SafeSite hazardous area signals. Its indication solutions include Circuit Board Indicators and Panel Mount Indicators. more »

LSE Price
373p
Change
-0.5%
Mkt Cap (£m)
122
P/E (fwd)
11.8
Yield (fwd)
1.5

Nasstar plc is a United Kingdom-based company, which is engaged in the provision of hosted managed services and cloud computing services. The Company integrates private and public clouds by supplying the hosted information technology services to its business customers. The Company's segments are e-know.net, Nasstar UK, Kamanchi, and VESK Virtual Desktop LLP, Appiam Limited and VESK Limited (VESK). The Company is an information technology outsourcer and Hosted Desktop provider. The Company provides a cloud managed service package, offering Hosted Desktop, Office 365, Hosted Exchange, Software as a Service (SaaS), Infrastructure as a Service (IaaS) and Hosted Telephony services. Additionally, the Company hosts a range of software applications on behalf of its clients. Further, the Company provides managed networks and an end user support service. The Company operates principally in the United Kingdom with some overseas contracts. more »

LSE Price
11.7p
Change
 
Mkt Cap (£m)
67.2
P/E (fwd)
24.5
Yield (fwd)
0.9

City Pub Group plc is a United Kingdom-based company. The Company owns and operates an estate of premium pubs across southern England. The Company’s pub estate comprises approximately 41 free houses located largely in London, cathedral cities and market towns, each of which is focused on appealing specifically to its local market. The Company’s portfolio consists of predominantly freehold, managed pubs, offering a range drinks and food tailored to each of its pubs’ customers. The Company provides beer, food, and entertainment facilities, as well as offers rooms and passages on rental basis. more »

LSE Price
214p
Change
 
Mkt Cap (£m)
131.2
P/E (fwd)
23.7
Yield (fwd)
1.3



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


7 Posts on this Thread show/hide all

MrContrarian 30th Jul 1 of 7
4

My morning smallcap tweet: London calling, London falling.

Premier Global Infrastructure Trust (LON:PGIT), Luceco (LON:LUCE), Foxtons (LON:FOXT)

Premier Global Infrastructure Trust (PGIT) The grandly named £23m microcap reports H1 total return -7.2%. Blames portfolio being on the wrong side of macro trends. "Neither the Board nor the Managers are satisfied with the lacklustre performance of the portfolio over the past 18 months...The underlying performance of the Company’s investments remains very encouraging, with strong earnings growth...While the macro environment remains challenging for global trade, interest rates and currencies in the short term, your Board remains confident in the prospects for the long term..."
Luceco (LUCE) H1 trading. H1 UK retail sales almost 20% down but overseas growth remained strong. Blames 'previously highlighted' retailer destocking and lacklustre consumer confidence. Guides close to break-even adjusted operating profit in H1. Q3 retail order book is over 30% higher than Q2, reflecting an end to destocking in its UK retail business. Expects year-on-year adjusted operating profit growth in H2.
Foxtons Group (FOXT) H1 rev down 9%. EPS -1.1p (1.2p). Div passed 'in line with our policy'. "As expected the weak sales market impacted our performance in the first half of 2018. After a slow start to the year, performance in our lettings business improved throughout the period delivering another consistent result...will continue to invest in our proposition to enable us to maintain our differentiation in the minds of buyers, sellers, landlords and tenants." I'm short.

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DJLJ23 30th Jul 2 of 7
2

Clipper Logistics (LON:CLG) down 20%, what have i missed in the update?, i felt it was quite positive, with no massive issues identified

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Damian Cannon 30th Jul 3 of 7
1

In reply to post #386469

I've asked Graham to take a look in the SCVR but my belief is that the results have come in a long way below analyst expectations but seemingly in-line with management expectations. I don't quite understand how these numbers aren't a lot closer - especially after the end of the financial year.

Blog: Ambling Randomly
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Edward John Canham 30th Jul 4 of 7
1

In reply to post #386469

Missed analysts targets - N+1 Singer EPS 16.5p vs 14.2 achieved.

On a high PER so market, as is the case these days, marked it down severly.

Phil

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DJLJ23 30th Jul 5 of 7

Many thanks Edward, Damian

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ISAallowance 30th Jul 6 of 7

Non-exec director buy at Swallowfield (LON:SWL) announced today (I hold):

"Swallowfield plc, a market leader in the development, formulation, and supply of personal care and beauty products, including its own portfolio of brands announces that Roger McDowell, Non-executive Director, has purchased 8,666 Ordinary Shares of 5 pence each in the Company at a price of 270 pence per Ordinary Share as set out in further detail below."

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RustySpanner 1st Aug 7 of 7

Dialight share price has spiked up today by about 6% at time of writing. A couple of years ago, having done some recent work for a major building contractor that was installing LED street lighting, I thought that would be an area worth investing in. But looking at the FT article here https://www.ft.com/content/3a05b8ea-f6e2-11e7-8715-e94187b3017e and employee reviews on Glassdoor https://www.glassdoor.co.uk/Reviews/Dialight-Reviews-E7797.htm it really does't look like a sustainable business!

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