Morning all!
Concurrent Technologies ( Concurrent Technologies (LON:CNC) ) – 73p – £53m – PER 14.3
Results For The 12 Months To End December 2018 – Revenue up slightly to £16.6m (from £16.2m), Margin down slightly, PBT of £3m is the same as last year and the Dividend is up 4.5% (to 2.3p). Cash at £7.7m (down from £8.4m last time). Started the new year with a strong Order book.
This looks in-line (ish) with the forecasts I can see and I reckon it seems priced about right here.
HSS Hire ( HSS Hire (LON:HSS) ) – 35p – £60m – PER 14
Results For The 12 Months To End December 2018 – Revenue up 5%, LBT reduced significantly from -£85.2m to -£4.5m.
Complicated results and HUGE Net Debt keeps me well away for now.
IMImobile ( IMImobile (LON:IMO) ) – 287p – £191.5m – PER 17.8
Trading Update For The 12 Months To End March 2019 – Revenue to be ahead of market expectations, up 28% on last year (18% organic). Gross Profit to be up 20% on last year and EBITDA 30%. Net Debt at £7.9m (Cash of £4.3m last time (acquired Impact Mobile for £16m).
Looks quite reasonable - I still have no conviction either way here at present but will be keeping an eye out for those FY actuals.
Mothercare ( Mothercare (LON:MTC) ) – 22p – £76m – PER 38
Trading Update For Q4 2019 (12 Weeks To End March 2019) – FY Profit to be in-line with market expectations, on track to deliver £19m of annual cost savings.
This is a weird as I see them forecast to make a loss – Anyway, it remains on my Avoid list for now.
Ramsdens Holdings ( Ramsdens Holdings (LON:RFX) ) – 179p – £55m – PER 9.5
Trading Update – Continues to trade in-line, despite Brexit, hot weather and a challenging retail environment.
I still reckon this is about fairly priced around this level – This also does sound like they're potentially lining up a warning.
As always,…
