Morning All!

Artilium ( Artilium (LON:ARTA) ) – 30-Oct-2017 – 9.63p – £32.8m – PER n/a

Final Results For The 12 Months To End June 2017 – I don’t know, it seems like an in-line set of results to me. EBITDA is up 21.7% to 0.38m Euro which actually means – We made another loss again this year.

It’s a loss making AIM listed tech stock. In addition to this, they don’t seem to have any Cash left – No interest here from me.

Cerillion ( Cerillion (LON:CER) ) – 30-Oct-2017 – 122.5p – £36.2m – PER 14

Trading Update For The 12 Months To End September 2017 – An in-line update, Revenue up 8.2% and EBITDA up 16.3%.

Quite like the look of this. ROCE (11.8%) and Operating Margin (13.2%) are good. The 3%+ yield is well covered and it’s got some Cash too. On a PER of 14 it’s maybe worth opening an initial position around this level.

Image Scan Holdings ( Image Scan Holdings (LON:IGE) ) – 30-Oct-2017 – 11.38p - £15.5m – PER 28.4

Trading Update For The 12 Months To End September 2017 – Revenue of £5.0m (£3.3m last time), unaudited PBT of approximately £480k (£105k last time). Record order intake for the year of £5.4m (£4.3m last time ) and the outstanding order book is at £2.1m (£1.7m last time). There’s Cash of £1.2m.

Slightly below my usual £20m Mkt Cap limit. Just thought I’d have a look as it had an interesting update and the Spread is a reasonable 220bps. Anyway, these recent results seem to be better than the expectations on Stockopedia. I quite like this, the main thing putting me off is that PER of 28.4 – But with a 50% increase in Revenue and PBT up 4x or so, perhaps it’s justified even at this price.

Lok’n Store ( Lok'n Store (LON:LOK) ) – 30-Oct-2017 – 362.5p – £106.3m – PER 23.6

Preliminary Results For The 12 Months To End July 2017 - Revenue of £16.65m up 3.7% from last time. Profit after Tax of £3.17m up 28.8% from last time. Dividend up 11.1%. NAV…

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