I Read The News Today Oh Boy! 4-Mar-2019

Monday, Mar 04 2019 by

Morning all!

Johnson Service ( Johnson Service (LON:JSG) ) – 130p – £478m – PER 13.2

Preliminary Results For The 12 Months To End December 2018 – Organic Revenue growth of 7.8%, Adjusted PBT up 7.1% with Adjusted Diluted EPS up 6.9%. The Dividend is increased 10.7%.

With a fair value here, for me, sub 100p I am have no interest at this price.

Keller Group ( Keller (LON:KLR) ) – 555p – £400m – PER 5.9

Results For The 12 Months To End December 2018 – In-line with revised expectations (an 11% decline in Profit). 4 Business units being restructured, capacity added – There's a healthy Order book and the outlook for 2019 is confident. There's confidence in the Dividend too, it's up 5%, it's well covered and there's a statement confirming intention to continue.

I have not looked into this in much detail. Growth is poor but the reasonably well covered Yield of 6%+ is not. The main issue is the Debt, it's HUGE. At present I cannot possibly buy this share.

Tracsis ( Tracsis (LON:TRCS) ) – 639p – £182.5m – PER 22.8

Trading Update For The 6 Months To End January 2019 – H1 in-line, Cash Balance at £18.7m, pipeline of acquisition opportunities remains strong.

I still reckon this is overvalued at this level. 

As always, all comment most welcome!

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Johnson Service Group PLC is a United Kingdom-based company that provides textile rental related services. The Company is the supplier of workwear and protective wear. The Company operates through Textile Rental segment. The Textile Rental segment is engaged in the supplying and laundering of workwear garments and protective wear; linen services for the hotel, restaurant and catering markets, and high volume hotel linen services. The Textile Rental segment principally consists of workwear garments, cabinet towels, linen and dust mats, are initially treated as inventories. It operates Textile Rental business under the brands, including Apparelmaster, Stalbridge, Bourne and London Linen. Its market workwear rental business, providing a clothing portfolio to the workplace, supported by sourcing supply and aftercare service solutions. Its Johnsons Stalbridge Linen Services offers the laundry service to the hospitality sectors. more »

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Keller Group plc is a geotechnical solutions specialist. The Company connects global resources and local knowledge, and tackles the engineering challenges in over 40 countries. Its segments include North America, EMEA and Asia-Pacific (APAC). The Company operates through over 50 offices throughout the United States and Canada. It offers micro-piling, ground anchors and grouting services, and a range of piling solutions. The EMEA division offers a range of geotechnical products and solutions. It operates across approximately 30 countries, notably in Germany, France, Poland, Austria and the United Kingdom in Europe, United Arab Emirates and Saudi Arabia in the Middle East, in South Africa and certain parts of sub-Saharan Africa, and in Brazil. The APAC division offers ground improvement and heavy foundation products and solutions. Austral and Waterway operate in Australia specializing in near shore marine piling and construction. more »

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Tracsis plc is a holding company. The Company is engaged in the business of software development and consultancy for the rail industry. Its segments include Rail Technology and Services, and Traffic & Data Services. The Rail Technology and Services segment includes its Software, Consultancy and Remote Condition Monitoring Technology, and also includes Ontrac Limited and Ontrac Technology Limited (together being Ontrac). The Traffic & Data Services segment includes data capture, analysis and interpretation of traffic and pedestrian data to aid with the planning, investment and ultimate operations of a transport environment and it also includes SEP Limited (SEP). It provides software products, consultancy services and delivers customized projects to solve a range of problems within the transport and traffic sector. It specializes in solving a range of data capture, reporting and resource optimization problems along with the provision of a range of associated professional services. more »

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

1 Post on this Thread show/hide all

MrContrarian 4th Mar 1 of 1

My morning smallcap tweet: Tandem continues to go in cycles

Tandem (LON:TND), FFI Holdings (LON:FFI), Avingtrans (LON:AVG), Maintel Holdings (LON:MAI)

Tandem Group (TND) H2 rev up 6% after dreaful H1 so FY rev down only 12% and pretax marginally down. 2019 started very strongly.
FFI Holdings (FFI) warns of poor H2 with delays hitting EBIT by $6m. Guides FY U/L EBIT $7.5-$11.5m.
Avingtrans (AVG) wins £10m of steam turbines business for 2020 delivery. Option for similar.
Maintel (MAI) CFO will leave after long handover. He is thanked.

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