Morning All!

Sorry about the delay - So much to get through today - Covered 9 shares!

A & J Mucklow PLC (MKLW)Preliminary Results For The Year Ended June 2017 – I’m not sure these results are as good as they should be!  They seem to reflect an across the board growth of about 10%. On a PER of 20, I would suggest the market was expecting more here.  Could be one for those seeking income without any great expectations of growth.

Alpha FX (AFX)Interim Results 6 Months To End June 2017 – Lots to like here…

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This has doubled since floating in April this year – Seems justified based on these results but is it now due a breather on a PER of 32?

Alumasc (ALU)Final Results – Full Year To End June 2017 – Results one can expect from this rather consistent “building products, systems and solutions company”.

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This statement by the Chief Executive is encouraging “Our order books and the level of specifications and enquiries in the pre-order pipeline remain strong across the group. Therefore, the Board believes Alumasc can continue to grow like-for-like revenues in its 2017/18 financial year”.

Has Cash (about 10% of Mkt Cap), pays a nicely covered Dividend of 4%+, has an ROCE of almost 20% and it has healthy Revenue and Profit growth (since 2014). On a PER of 7.75, this looks decent value, for the sector, at this level.

Craneware (CRW)Results For Year Ending June 2017 – Double digit Revenue and Profit growth reported here (PBT and EPS up 20%).

I like the steady increases in Revenue, Profits and EPS here, 5%, 10% and 10% (CAGR) or thereabouts, respectively.  The ROCE is also impressive, consistently around 25% or so. There’s a small (1.5%) Dividend that’s well covered and it’s also got Cash (more than 10% of Mkt Cap).  So, there’s lots to like here – The issue for me is the PER of 30! This seems in-line with the Stockopedia Value rating of 11. At this price it just seems a bit overvalued to me.

Lighthouse (LGT)Interim Results 6 Months To End June 2017

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