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…
