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!
