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

Tuesday, Sep 04 2018 by
18

Morning all!

(A crazy morning hence a little late)

Mattioli Woods ( Mattioli Woods (LON:MTW) ) – 832.5p – £217.8m – PER 20.0

Final Results For The 12 Months To End May 2018 – Revenue up 16.2% to £58.7m (2017: £50.5m), PBT up 27.3% to £9.8m (2017: £7.7m), Adjusted EPS up 11.1% to 37.0p (2017: 33.3p), Total Dividend up 20.6% to 17.0p (2017: 14.1p) and there’s Net Cash of £20.2m (2017: £23.0m).

I am Neutral here and will remain that way. I quite like this company but just can’t convince myself there’s value here at this price (Stockopedia seems to agree where there is a Value score of 25 versus Quality and Momentum scores in excess of 80).

Boku Inc ( Boku Inc (LON:BOKU) ) – 184p – £394.2m – PER 128.6

Interim Results For The 6 Months To End June 2018 – Payment volume up 153% and number of users up 117%. Revenue is up 66% to $16.9m, Gross Profit Margin up to 92.4% from 90.7% (average for 2017) and there’s a Net Loss of $0.7m vs a Net Loss of $6.6m last time. Average Daily Cash $23.1m (December 2017: $19.2m). Current trading is encouraging with August Payment volume and number of users both up 100% on last year. Expecting to meet recently upgraded FY expectations.

Still tempted here and may well open an initial position at some stage, as I write I remain on the side-lines.

Filta Group ( Filta Group (LON:FLTA) ) – 239p – £64.9m – PER 27.0

Interim Results For The 6 Months To End June 2018 – Revenue up 15% (22% in CC) to £6.6m, PBT up 13% (22% in CC) to £1.0m, Basic EPS up 24% to 3p and the Interim Dividend will be increased to 0.72p, from 0.65p last time (let’s call it 10%). It seems perhaps FX will affect FY here “The currency environment appears less challenging in the second half of the year which has begun with a stronger US dollar.  Should this continue it would be an encouraging sign supporting higher revenue and profit growth for the second half”.

I hold here but will monitor this morning – Potential here looks good (especially with…

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Mattioli Woods plc is engaged in providing wealth management, employee benefits and professional advises. The Company’s wealth management service includes: financial planning, which provide wealth building and trust planning; investments service include portfolio management, structured products and individual savings account (ISA); pension includes providing self-invested personnel pension and small Self-Administered Scheme(SSAS); property includes real estate investment trust (REIT), mortgage advice and legal services; protection includes life insurance and income protection. Employee benefits include flexible benefits pensions and workplace saving, guidance for lifetime, employee engagement, international, and mergers and acquisitions. Professional advises include providing self-invested personal pension advice. It operates through multiple offices in United Kingdom. more »

LSE Price
810p
Change
 
Mkt Cap (£m)
216.8
P/E (fwd)
18.3
Yield (fwd)
2.5

Boku, Inc. is a carrier billing company. The Company provides its services to both merchants and carriers. The Company offers Boku Checkout, which is built for Web-based merchants. Boku Checkout is a turnkey payment panel, which works in any browser and displays Pay by Mobile options from various mobile operators across the world. Merchants choosing the Company's service can integrate once and begin accepting payments from virtually any mobile phone in the world. The Company also offers Boku Direct, which enables merchants to integrate carrier billing functionality directly into their billing system. It allows the merchants to process payments using their own branded checkout flow for both one time or recurring payments. It allows customers to use their mobile number to authorize their payment. Its platform is used in various digital marketplaces, including Google Play Store, Sony PlayStation Store, Microsoft Windows Store, Facebook Application Center, and Spotify. more »

LSE Price
145p
Change
2.5%
Mkt Cap (£m)
346.7
P/E (fwd)
62.8
Yield (fwd)
n/a

Filta Group Holdings plc is a provider of various services to national and independent commercial kitchen operators and owners. The Company's principle service is FiltaFry, which is the micro-filtration of cooking oil, the vacuum-based cleaning of deep fryers and full Fryer Management. Its business operations are within the United Kingdom and the United States. The United States operations are operated as a franchise network, while the United Kingdom activities are operated under both franchise and direct sale business models. In addition to FiltaFry, Franchise Owners offer other fryer management services provided and managed by it, including waste cooking oil collection and removal (FiltaBio) and the supply of cooking oil (FiltaGold) and non-fryer related kitchen services, including the provision and servicing of moisture absorption panels for refrigeration units (FiltaCool). Its drain-related services include live bacteria drain dosing. The Company has over 180 Franchise Owners. more »

LSE Price
227p
Change
0.9%
Mkt Cap (£m)
65.4
P/E (fwd)
21.3
Yield (fwd)
1.5



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


4 Posts on this Thread show/hide all

MrContrarian 4th Sep '18 1 of 4
5

My morning smallcap tweet: Velocity deceleration.

OptiBiotix Health (LON:OPTI), Utilitywise (LON:UTW), Croma Security Solutions (LON:CSSG), Taptica International (LON:TAP), Velocity Composites (LON:VEL)

OptiBiotix Health (OPTI) agreement with a US company for the use of its cholesterol reducing Lactobacillus plantarum strain as a pharmaceutical drug product in the US, with a worldwide option. OptiBiotix will be responsible for the manufacture of its Lactobacillus plantarum strain to pharmaceutical drug standards. OptiBiotix will be responsible for the manufacture to pharmaceutical drug standards, the US co will do the development, pre-clinical and human clinical testing, regulatory filings and approvals, product manufacture, marketing, and product sales. No numbers. I've no idea how long until sales start if at all.
Utilitywise (UTW) Warning? "As previously announced in the FY18 interim results, the order book delivery of the Enterprise division has been impacted by a number of internal and external factors...The second half of the financial year was challenging, for reasons that were well-publicised, as the Group continued to deal with a number of legacy issues. Also "reviewing revenue estimation methodology as part of its FY18 year-end audit process, in light of the adoption of the accounting standard IFRS 15."
Croma Security Solutions (CSSG) FY trading. Increased demand - guides EBITDA not less than £2.4m (2017: £0.8m).
Taptica (TAP) H1 Headlines Adjusted EBITDA up 65% but have to scroll a long way to find basic earnings per share up only 12%. Div 3.98c (0). Guides EBITDA ahead of market expectations. I hold.
Velocity Composites (VEL) guides FY rev and profit lower than market expectations. Blames "longer lead times in customers finalising the contractual position, delays in the placing of production orders where contractual terms have been agreed, delays following requests for configuration changes by contracted customers, and in one case the loss of a programme by a customer." Too many excuses, and delays are commonplace in tech businesses.

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mrosbiston 4th Sep '18 2 of 4

Croma Security Solutions (LON:CSSG) very positive update, think Stocko expectations look light to me. Happy holder and looking to add here, spread is not unreasonable for the mkt cap either.

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andrea34l 4th Sep '18 3 of 4
4

I am not getting why Filta Group (LON:FLTA) deserves a PER of 30+ based on these numbers.

The results from Michelmersh Brick Holdings (LON:MBH) look smashing, though I note H2 will be a little quieter due to maintenance shutdowns. The only thing putting me off is the stock ranks, which are generally mediocre.

I am tempted to buy Croma Security Solutions (LON:CSSG) this morning after confirmation that strong trading is continuing, the indicated "step change in ongoing profitability" sounds very positive. However I notice that the price is rapidly drifting after early enthusiasm, so will watch for now.

Boku Inc (LON:BOKU) looks interesting too, I'm assuming that their services are used by, for example, people who wear an iWatch (of which my friend is one) who wave it over a till scanner to bill for products...

Thanks for a significant report, Matylda, it's a very busy day!

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matylda 4th Sep '18 4 of 4
2

Filta Group (LON:FLTA) - I sold out this morning but am not sure it's the correct decision, H2 results will enlighten.

Croma Security Solutions (LON:CSSG) - Too small for me at present, will keep an eye out.

Michelmersh Brick Holdings (LON:MBH) - Just have concerns about the continued need for bricks, remains on the Watchlist at the moment.

Boku Inc (LON:BOKU) - Will it be the winner, will it get bought out - Who knows, as with Michelmersh Brick Holdings (LON:MBH) I remain in the sidelines.

Thanks all for the comment.

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