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!

Unlock the rest of this Article in 15 seconds

or Unlock with your email

Already have an account?
Login here