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 (
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!
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!