I Read The News Today Oh Boy! 5-Apr-2018

Thursday, Apr 05 2018 by

Morning all!

Wincanton ( Wincanton (LON:WIN) ) – 211p – £262.8m – PER 7.01

Trading Update For The 12 Months To End March 2018 – FY expected to be in-line.

I remain Neutral here as it still all seems just a little bit too dull – Typically flat and with no real obvious growth. Could be OK for the yield though.

Castleton Technology ( Castleton Technology (LON:CTP) ) – 75p – £59.2m – PER 13.2

Trading Update For The 12 Months To End March 2018 – In-line and optimistic for future growth.

Based on being in-line this seems fairly priced for me. I’m Neutral although it could be a market leader, will keep an eye out for updates.

Adept Telecom ( Adept Telecom (LON:ADT) ) – 321.2p – £76.1m – PER 12.8

Trading Update For The 12 Months To End March 2018 – EBITDA expected to be up 23% (slightly ahead of market expectations), FY Dividend to be up 13%. Net Debt is £18.05m.

Results seem good and there’s things to like here (ROCE and Operating Margin for example) but Net Debt is still quite high at 25% of Market Cap. I just think there’s better stocks out there than this, I will remain Neutral.

Watkin Jones ( Watkin Jones (LON:WJG) ) – 181.2p – £462.5m – PER 11.7

Trading Update For The 6 Months To End March 2018 – In-line and confident for the FY and beyond.

This just seems to be fairly priced every time I look at it (the last time I thought that it was 226p). I think it’s just best I remain Neutral here.

Treatt ( Treatt (LON:TET) ) – 406p – £233.6m – PER 23.2

Trading Update For The 6 Months To End March 2018 – LFL Revenue up 11% expecting FY PBT and exceptional items to be in-line.

Still a lot to like here but I am going to switch to Neutral for now. On a PER of 20+ I would just be expecting updates to be more upbeat.

Walker Greenback ( Yes

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Wincanton plc is a provider of supply chain solutions. The Company operates through two segments: Retail & Consumer, and Industrial & Transport. Its Retail & Consumer segment focuses on consumer products business and brings to customers through the entire supply chain from producer to retailer, and Industrial & Transport segment focuses on an integrated and optimized transport operation, and includes Containers business and Pullman business. Its Pullman business provides transport and fleet services. The Company provides its services to a range of sectors, such as retail, which includes fashion logistics, e-commerce, food, health and beauty, leisure and lifestyle, consumer electronics and paper products, as well as manufacturing, which includes water, milk and bulk food, construction, consumer goods, energy and defense. The Company provides a range of services, including road transport, warehousing and value added services. Its value added services include packaging and consultancy. more »

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Castleton Technology plc, formerly Redstone PLC, is an investment holding company. The Company is engaged in providing software and managed services to the public and not-for-profit sectors, mainly the social housing sector. Its segments include Managed Services, which consists of Castleton Managed Services Limited and Keylogic Limited, and Software Solutions, which consists of the results of Castleton Software Solutions Limited, Kypera Limited and Kypera Pty. It offers KYPERA FINANCIALS, a finance solution, which uses a single ledger format; EDRM, which is an electronic document and records management system that allows organization to manage its documents and supporting information; P2P, which manages repairs and non-repairs processes and integrates finance and repairs system; AGILE, OPUS SERVICE CHARGES and MANAGED SERVICES. Its subsidiaries include Castleton Technology Intermediate Holding Company Limited, Castleton Group Holdings Limited and Castleton Information Group Limited. more »

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AdEPT Technology Group plc, formerly AdEPT Telecom plc, is engaged in providing managed services for information technology (IT), unified communications, connectivity and voice to over 100 Councils, NHS Trusts and other government bodies. The Company's segments are fixed line services (being calls and line rental services) and managed services (which are data connectivity, hardware services, IP telephony, support and maintenance services). It is engaged in the provision of voice and data communication services to both domestic and business customers. The Company offers technical and commercial options for onsite and cloud-based telephony. The Company serves approximately 20,000 commercial customers including worldwide and nationwide brand names. more »

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8 Posts on this Thread show/hide all

MrContrarian 5th Apr '18 1 of 8

My morning smallcap tweet:

Adept Telecom (LON:ADT), Airea (LON:AIEA), Fastjet (LON:FJET)

Adept Telecom (ADT) guides slight FY beat in underlying EBITDA and rev.
Airea (AIEA) James Halstead considering making an offer.
Fastjet (FJET) Underlying FY trading broadly in line with expectations. Also buys three ATRs with shareholder loan of $12m at higher of LIBOR + 6.45% 8% until 30 June 2019 then higher of LIBOR + 8.45% or 10%. And this is for a secured loan!

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runthejoules 5th Apr '18 2 of 8

Thanks for doing all these Matylda, fast daily research ideas are very welcome and your stringent criteria are a good example for us all. Given that you cover so many companies I think each mini-report might benefit from a brief description of each company or at least saying which sector they are in. Ta!

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matylda 5th Apr '18 3 of 8

In reply to post #349788

Thanks for the kind words of appreciation.

Most mornings it's quite a struggle to check the report, previous comments, broker notes and then include price, market cap and PE - Plus of course document a commentary based on that.

I generally know all of the companies I report on anyway so it's just a headwind I can do without in a limited time-frame.

This would be made much easier if there was a reliable source of upcoming Results/Trading statements but the majority of the time I only know of about 50% of them in advance. For example, today, I was unaware of only one of them, two I had prepared for did not report anything.

Hope the above is understandable and thanks again for the kind words.

Blog: Briefed Up
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runthejoules 5th Apr '18 4 of 8

I don't know how you do it, I can barely get my pc to boot before 7am most days! 'This would be made much easier if there was a reliable source of upcoming Results/Trading statements' - I strongly agree, and I think keeping to scheduled reports should be an AIM requirement. It would make it much easier to plan days off and lies-in too!

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matylda 5th Apr '18 5 of 8

In reply to post #349828


I think AIM have much more to correct than than reporting schedules but yes it would be nice. Although to be honest the main market stocks are often the same, mainly regarding Trading statements (results are usually on schedule and known about).

All the best.

Blog: Briefed Up
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Mike888 5th Apr '18 6 of 8

Matylda you do us all a great service I too don't know how you find the time. I would like to also thank Mr Contrain too. Every morning I read your posts in parallel with trawling through the mornings RNS and I find them invaluable.

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letap73 5th Apr '18 7 of 8

In reply to post #349818

Just to re-iterate what others have said I have no idea how you and Mr Contrarian are out of the gate so fast. With regards to a descriptor of the companies that come up, clicking on the stock report or looking at the end of the article usually gives you an adequate description of the companies that come up.

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matylda 5th Apr '18 8 of 8

Thanks all - I too great appreciate what Mr C. does too - I am not as great at humour or sarcasm at such an early hour :)

Blog: Briefed Up
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