I Read The News Today Oh Boy! 30-Jul-2019

Tuesday, Jul 30 2019 by

Morning all!

Kape Technologies ( £KAPE ) – 83p – £120m – PER 12

Trading Update For The 6 Months To End June 2019 – Revenue up 24%, EBITDA up 40%, in-line (with management expectations).

Not a huge amount of information here, I am Long and remain so (perhaps a little more cautiously), for now. Based on the latest Broker note this morning, in my opinion, this looks way undervalued on a 1 Year and 2 Year view especially considering the Net Cash is about 30% of the current Market Cap.

Low & Bonar ( £LWB ) – 10p – £67m – PER 7

Results For The 6 Months To End June 2019 – Revenue down 10% or so, Underlying Loss of -£0.2m, EPS at 0.1p (1.38p), Net Debt down from £140.3m to £99m, there will be no Interim Dividend. Outlook doesn’t seem too rosy either!

Remains firmly on my Avoid list.

Luceco ( £LUCE ) – 119p – £191m – PER 15

Trading Update For The 6 Months To End June 2019 – In-line with Revenue up 10%, confident of remaining in-line.

Up 3 fold from it’s lows I still see value here but just not quite enough for me to be a buyer just yet.

Volex ( £VLX ) – 95p – £137m – PER 8

Q1 Trading Update – Strong with Revenue up 12% (14% CC), Operating Profit Margin ahead of current expectations.

Long here, quite like this so see no reason to change my position.

Xpediator ( £XPD ) – 51p – £69m – PER 10

Trading Update For The 12 Months To End December 2019 – Revenue on course to meet expectations of £200m+ but PBT to be materially below market expectations. Loads to blame (too much to list)!

This was on my Watchlist and I was close to buying yesterday, the low margins and the preference to retain a little more cash at present (luckily) kept me out. Due to the extend of the blame here a lot of fixing seems to be required, I will be remaining on the side-lines, I reckon, for some time.

As always, all comment most welcome!

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Low & Bonar PLC is a United Kingdom-based company engaged in international manufacturing and supply of performance materials. The Company's segments include Building & Industrial, Civil Engineering, Coated Technical Textiles, and Interiors & Transportation. The Building & Industrial global business unit (GBU) supplies a range of technical textile solutions for applications in the building, roofing, air and water filtration and agricultural markets. The Civil Engineering GBU supplies woven geotextiles and construction fibers used in infrastructure projects, including road and rail building, land reclamation and coastal defense. The Coated Technical Textiles GBU supplies a range of technical coated fabrics providing aesthetics and design, performance and protection. The Interiors & Transportation GBU supplies technical fabrics used in transportation, interior carpeting, resilient tiles and decorative products. more »

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Volex plc is a supplier of power cords and cable assembly solutions servicing a range of markets, including consumer electronics, telecommunications, data centers, medical equipment and the automotive industry. The Company's segments include Power Cords, Cable Assemblies and Central. The Power Cords segment is engaged in the sale and manufacture of electrical power products to manufacturers of electrical/electronic devices and appliances. These include laptop/desktop computers, printers, televisions, power tools and floor cleaning equipment. The Cable Assemblies segment is engaged in the sale and manufacture of cables permitting the transfer of electronic, radio frequency and optical data. These cables range from universal serial bus (USB) cables to high-speed cable assemblies, and are used in a range of devices, including medical equipment, data centers, telecoms networks and the automotive industry. It is also engaged in contract manufacturing service and product development. more »

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Kape Technologies PLC, formerly Crossrider plc, is a United Kingdom-based online distribution and digital product company. The Company operates through three segments: App Distribution, Media, and Web Apps and License. Through the App Distribution segment, the Company offers Reimage, a computer repair software; DriverAgent, a driver repair software; CyberGhost, a virtual private network solution, and associated services. The Company’s Media division provides media and advertising technology services that include media buying, ad agency services, and ad serving technologies. It offers Ajillion, a mobile ad server and exchange; Definiti Media, an advertisement network, and crossmob, a mobile marketing application. Through the Web Apps and License division, the Company licenses web apps monetization platform and associated technologies. more »

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

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