I Read The News Today Oh Boy! 4-Dec-2018

Tuesday, Dec 04 2018 by

Morning all!

A bit of a mad one (hence the delay) with 13 stocks covered.

ITE ( ITE (LON:ITE) ) – 61.1p – £468.7m – PER 12.9

Preliminary Results For The 12 Months To End September 2018 – Revenue up 11% to £175.7m, Statutory Loss of -£3.7m (was –£3.2m last time) with Diluted EPS at -1.6p (-1.9p last time).

There’s nothing here to move my stance from Neutral at present.

Discoverie ( Discoverie (LON:DSCV) ) – 346p – £249.4m – PER 12.4

Interim Results For The 6 Months To End September 2018 – Revenue up 11% with Reporting PBT down -7% and Reporting Fully Diluted EPS down -3% - The Interim Dividend is up 6%.

I said previously that there is enough to like here but just not enough to get my conviction at present.

Park ( Park (LON:PARK) ) – 78p – £144.3m – PER 12.7

Interim Results For The 6 Months To End September 2018 – In-line.

I still can’t get excited about a gift voucher / prepaid gift card company that’s growing at <10% per annum.

Vianet ( Vianet (LON:VNET) ) – 103.5p – £27.2m – PER 9.84

Interim Results For The 6 Months To End September 2018 – Revenue up 14.43% (88% recurring), PBT up 10.46%, Basic EPS up 36.16% and on the down-side, the Interim Dividend is unchanged and Net Debt is £1m versus Net Cash of £2.72m last time.

I still reckon this is fairly priced around this level so I remain on the side-lines for now.

WYG ( WYG (LON:WYG) ) – 44p – £32.2m – PER 8.47

Interim Results For The  Months To End September 2018 – A tough 6 months but results (they look awful) are in-line with market expectations. Expecting seasonally stronger H2.

I still can’t get excited here at present – Will wait and see how that H2 plays out.

DX Group ( DX (Group) (LON:DX.) ) – 8.38p – £46.9m – PER 34.4

AGM Statement – First 4 months in-line with management expectations.

This seems positive enough but I will wait to see how the actuals are as and when they come in.

Marlowe ( Marlowe (LON:MRL) ) – 413p – £159.9m – PER 23.8

Unaudited Results For The 6 Months To End September 2018 – Statutory Revenue up 57%, PBT up 26% and Basic EPS up 35% - Net Cash is up 55% to £4.9m. H2 has started well and expect to deliver FY performance ahead of expectations.

Still looks attractive and will keep an eye out for broker notes here.

Water Intelligence ( Water Intelligence (LON:WATR) ) – 287p – £43.7m – PER 26.6

Trading Update For Q3 2018 – Revenue up 40% and already higher than FY 2017, Underlying PBT comfortably in-line (despite re-investment expenses),

Having held previously (20%+ off it’s high) looks worthy of further analysis once again.

Quartix Holdings ( Quartix Holdings (LON:QTX) ) – 240p – £114.7m – PER 21.0

Trading Update For The 10 Months To End October 2018 – Adjusted EBITDA likely to be ahead of market expectations.

EBITDA (so what!) – Anyway, I still don’t see the value here on a PER of 20+, perhaps I am missing something.

MS International ( MS International (LON:MSI) ) – 199.5p – £33.4m – PER 9.72

H1 Report – PBT of £3.19m (£1.64m last time), Revenue of £37.74m (£34.63m last time), EPS 15.2p (7.8p last time), Net Cash of £16.55 (£15.87m last time) and the Interim Dividend of 1.75p is maintained.

Still looks quite tempting but there’s no forecasts available at all and little to go on in this update – Just a little too risky with no solid outlook (loads of Net Cash!).

Oxford Metrics ( Oxford Metrics (LON:OMG) ) – 69.5p – £86.8m – PER 16.2

Preliminary Results For The 12 Months To End September 2018 – Revenue up 8.6%, Statutory PBT up 25%, Statutory Basic EPS up 26.7% with Net Cash up 33.1% to £12.2m. Made an excellent start to the new year.

These results look encouraging, I will be keeping my eye out for potential upgrades here – Interesting!

1pm ( 1pm (LON:OPM) ) – 42.5p – £37.2m – PER 5.57

Trading Update – H1 (to end November 2018) Unaudited Results to be in-line.

Would have been nice to have a little more information than this – Nevertheless, for now, I will continue to hold.

Fulcrum ( Fulcrum Utility Services (LON:FCRM) ) – 63.3p – £139.5m – PER 13.8

Unaudited Interim Results For The 6 Months To End September 2018 – Revenue up 49%, PBT up 13.5% with EPS of 1.7p (1.8p last time), Cash is down from £14.5m to £10.4m.

I previously held here and still consider 60p or so a fair price here.

As always, all comment most welcome!


As per our Terms of Use, Stockopedia is a financial news & data site, discussion forum and content aggregator. Our site should be used for educational & informational purposes only. We do not provide investment advice, recommendations or views as to whether an investment or strategy is suited to the investment needs of a specific individual. You should make your own decisions and seek independent professional advice before doing so. The author may own shares in any companies discussed, all opinions are his/her own & are general/impersonal. Remember: Shares can go down as well as up. Past performance is not a guide to future performance & investors may not get back the amount invested.

Do you like this Post?
12 thumbs up
0 thumbs down
Share this post with friends

ITE Group plc is engaged in the organization of international trade exhibitions and conferences. The Company's geographical segments include Russia, Central Asia, Eastern and Southern Europe, Asia and Rest of the World. The Company specializes in producing exhibitions and conferences that advance business and economic development by connecting buyers and suppliers from around the world. Its events are a platform for commercial growth for a range of business opportunities, and for providing market knowledge and industry information. In addition to event programs, the Company provides a digital platform and product directory to connect professionals in the building and interiors sector called WorldBuild365 (www.worldbuild365.com). Its products range from specialist conferences to trade fairs. It offers services to sectors, such as food, drink and hospitality; travel and tourism; engineering and industrial; transport and logistics; security and protection, and healthcare and medical. more »

LSE Price
Mkt Cap (£m)
P/E (fwd)
Yield (fwd)

discoverIE Group PLC, formerly ACAL PLC, designs, manufactures and supplies components for electronic applications. The Company operates through two divisions: Custom Supply and Design & Manufacturing. The Custom Supply division provides technically demanding customized electronic, photonic and medical products to the industrial, medical and healthcare markets, both from a range of international suppliers and from the Company's Design & Manufacturing division. The Design & Manufacturing division manufactures custom electronic products that are designed or modified from a standard product for a specific customer requirement. The products are manufactured at the Company's in-house manufacturing facilities or by third party contractors. Its technology areas include communications & sensors, power & magnetics, electromechanical & cabling, microsystems, and imaging & photonics. more »

LSE Price
Mkt Cap (£m)
P/E (fwd)
Yield (fwd)

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

2 Posts on this Thread show/hide all

MrContrarian 4th Dec '18 1 of 2

My morning smallcap tweet: Jam seen at SRT, but this jar was snatched away once...

SRT Marine Systems (LON:SRT), Surface Transforms (LON:SCE), IXICO (LON:IXI), Marlowe (LON:MRL), Quartix Holdings (LON:QTX), Pelatro (LON:PTRO)

SRT Marine Systems (SRT) wins £31m 4 year contract from Philippines. This is the same project which the company previously announced had been cancelled and delayed due to a change of budget source from a foreign loan to Philippine government cash funds. I hold.
Surface Transforms (SCE) H1 trading. Rev down 3% at £509k. Commentary topped with a garnish of good news under which is a sickly fish. Customer 'OEM6' may delay production, may hit FY rev by £500k.
Ixico (IXI) FY up 32%. EPS -2.0p (-5.7p). The Financial Review is headed Ahead of expectations but there's nothing in the body about this. Rev matches F/C, EPS is worse than -1.5p F/C. Guides current FY in line.
Marlowe (MRL) H1 rev up 57%, EPS 8.8p up 41%. Guides FY ahead of current market expectations.
Quartix (QTX) guides FY adjusted EBITDA head of market expectations by 10-15% but "This is largely as a result of the Group's adoption of IFRS15 (Revenue from Contracts with Customers), which has increased profit and revenue in 2018 as noted in the trading statement on 2 July 2018." So broker(s) asleep at the wheel? Why did QTX not nudge them? Revenue and free cashflow guided slightly ahead of market expectations which were rev: £24.6m; adjusted EBITDA £7.5m; free cash flow: £5.4m.
Pelatro (PTRO) wins contract to provide Campaign Management Solution to NCell of Nepal. No £££.

| Link | Share
andrea34l 4th Dec '18 2 of 2

I think the results from Discoverie (LON:DSCV) are poor with PBT down; one I am glad I made the decision to sell out of.

I am put off investing in MS International (LON:MSI) due to (1) the dividend being only maintained doesn't demonstrate much confidence in the future, (2) the profit increase far outstrips a revenue increase which is not even 10%, (3) there is no breakdown between divisions of financial performance (I think this would highlight the defence division as very poor), and (4) there is an implication of significant investment required to get the defence division to a better place.

I'm happy to l hold 1pm (LON:OPM) for the moment.

I still hold Fulcrum Utility Services (LON:FCRM) for now, they don't state adjusted eps before the significant amortisation figure which is a bit annoying - as this is a non-cash cost, I would have though that would have highlighted more progress at that level. LFL growth looks quite good.

I have looked at the results of Marlowe (LON:MRL) and they look quite interesting (I don't hold). A 12 month run rate of 130m revenue and seeing results ahead of expectations sounds quite good, though only thing bothering me is that they are extremely acquisitive and there is quite an amount of restructuring costs which headline eps is stated before taking into account, but this is a cash cost surely.

| Link | Share

What's your view on this thread? Log In to Comment Now

You can track all @StockoChat comments via Twitter

Stock Picking Tutorial Centre

Let’s get you setup so you get the most out of our service
Done, Let's add some stocks
Brilliant - You've created a folio! Now let's add some stocks to it.

  • Apple (AAPL)

  • Shell (RDSA)

  • Twitter (TWTR)

  • Volkswagon AG (VOK)

  • McDonalds (MCD)

  • Vodafone (VOD)

  • Barratt Homes (BDEV)

  • Microsoft (MSFT)

  • Tesco (TSCO)
Save and show me my analysis