I Read The News Today Oh Boy! 6-Jun-2018

Wednesday, Jun 06 2018 by
15

Morning all!

Findel ( Findel (LON:FDL) ) – 243p – £210.1m – PER 8.98

Results For The 12 Months To 30th March 2018 – Revenue up 4.8% to £479.0m and Adjusted Operating Profit up 15.4% to £36.0m.

I can’t really work this one out but with Net Debt over 30% of Mkt Cap and a (I believe) Pension Deficit of £2.5m a year - I am just going to remain Neutral.

Flowtech Fluidpower ( Flowtech Fluidpower (LON:FLO) ) – 170.75p – £90.2m – PER 10.3

AGM Statement – First 3 months Revenue up 49.7% (as per recent Trading Update) and momentum continues into the following 2 months. All seems in-line.

I hold here and on a PER of 10 with EPS forecasts at +39.3% in 2018 and +9.06% in 2019, I will continue to do so.

Share ( Share (LON:SHRE) ) – 26p – £37.3m – PER 52.7

AGM Statement – Revenues up 20%, in-line.

Still of interest but not enough so to make me a buyer at present, I remain Neutral.

Harvey Nash ( Harvey Nash (LON:HVN) ) – 106p – £77.9m – PER 7.64

Trading Update – Strong growth continues.

Now wishing I hadn’t waited for a pull-back circa 80p – Will revise my Watchlist price to 100p although a break-out above 106p also looks like a potential entry (so as not to miss out again perhaps!).

Amino Technologies ( Amino Technologies (LON:AMO) ) – 207.5p – £150.8m – PER 13.6

Trading Update For The 6 Months To End May 2018 – FY expectations remain unchanged.

This was on my Watchlist at 180p but having had a little closer look this morning I will go Neutral here now. ROCE and Operating Margin are great here but the forecast Revenue and EPS outlook just look below par.

Porvair ( Porvair (LON:PRV) ) – 516p – £235.5m – PER 25.2

Trading Update For The 6 Months To End May 2018 – In-line.

I still don’t see it. On a PER of 25.2 I would expect more here, I remain Neutral.

MS International ( MS International (LON:MSI) ) – 208p – £34.8m – PER 15.2

Final Results For The 12 Months To 28th April 2018 – PBT up £4.04m (2017 - £1.53m) on Revenue of £68.09m (2017 - £53.82m), EPS of 20.5p (2017 - 9.1p) with a Final Dividend of 8.25p (8p last time).

There’s a lot to like here but with no broker coverage at all (that I can find) and the company outlook difficult to interpret it’s not easy to get involved. I will remain Neutral for now.

As always, all comment most welcome!


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Amino Technologies Plc is engaged in providing Internet protocol (IP)/Cloud video software and device solutions. The Company develops a range of products and solutions designed to help broadband network operators deliver entertainment and associated connected home services to the consumer. It operates through the development and sale of broadband network software and systems segment. The Company and its subsidiaries specialize in Internet protocol television (IPTV) software technologies and hardware platforms that enable delivery of digital programming and interactivity over IP networks. It is also engaged in the sale of IPTV set-top boxes and associated customer support services. Amino Communications is a wholly-owned subsidiary of Amino Technologies PLC. Its other subsidiaries include Amino Holdings Limited, Amino Communications LLC and Amino Technologies (US) LLC. more »

LSE Price
120.5p
Change
-0.8%
Mkt Cap (£m)
88.5
P/E (fwd)
10.0
Yield (fwd)
5.6

Findel plc operates in the home shopping and education supplies markets. The Company's segments include Express Gifts, Findel Education and Overseas Sourcing. The Express Gifts segment includes direct mail order businesses in the United Kingdom, offering online and through catalogue a range of home and leisure items, clothing, toys and gifts supported by credit offer. The Findel Education segment supplies resources and equipment (excluding information technology and publishing) to schools and educational establishments in the United Kingdom and overseas. The Overseas Sourcing segment includes sourcing office based in Hong Kong supplying importing services to various group companies and external customers. The Company's subsidiary Express Gifts Limited, includes Studio, an online and home catalogue shopping; Ace, an online store for home, living and garden needs, and Health & Home, an online store for beauty, home, office and garden accessories. more »

LSE Price
204p
Change
4.6%
Mkt Cap (£m)
168.6
P/E (fwd)
6.7
Yield (fwd)
n/a

Flowtech Fluidpower plc is a United Kingdom-based distributor of technical fluid power products. The Company operates through two divisions: Flowtechnology, which is geographically split into Flowtechnology UK (FTUK) and Flowtechnology Benelux (FTB), and Power Motion Control (PMC). FTUK and FTB focus on supplying distributors and resellers of industrial maintenance, repair and operation (MRO) products, primarily serving urgent orders rather than bulk offerings. The PMC division is engaged in the design and assembly of engineering components and hydraulic systems, which are managed by component supply along with a service and repair function. Its business is focused on its distribution offering in over three categories: Pneumatics (products that enable the use of gases to provide mechanical motion), Hydraulics (products that enable the use of fluids to provide mechanical motion) and Industrial (products and accessories that act as conduits for gases and liquids). more »

LSE Price
113p
Change
-2.6%
Mkt Cap (£m)
70.7
P/E (fwd)
7.2
Yield (fwd)
5.4



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


4 Posts on this Thread show/hide all

MrContrarian 6th Jun 1 of 4
4

My morning smallcap tweet: The curse of H2 weighting.

Autins (LON:AUTG), Microsaic Systems (LON:MSYS), Minoan (LON:MIN), Hornby (LON:HRN), Harvey Nash (LON:HVN)

Autins Group (AUTG) The curse of H2 weighting: H2 refuses to meet guidance, no better than H1. "FY2018 revenues will be behind market expectations and profitability will be significantly below market expectations." Good news is it has now secured technical approval for its Neptune materials with key strategic European OEMs.
Microsaic Systems (MSYS) raises £5.5m at 2p, an 11% discount.
Minoan Group (MIN) sale of its travel business is proceeding, but more slowly than previously envisaged.
Hornby (HRN) replaces £6m facility with two totalling £18m. The smaller loan is from its largest shareholder, Rate for larger one is 2.5-3% over LIBOR plus non-utilisation fee of 0.75% of undrawn funds. What a chuffing liberty! The shareholder loan is even worse, 5% and 1%. "Whilst the Board believes it is unlikely that we will need to draw down on the entire availability, the Board is of the opinion that having a robust balance sheet is important to give our customers, suppliers and retail partners full confidence." Owing a lot of money if not a 'robust balance sheet'.
Harvey Nash Group (HVN) Q1 ahead of budget with gross profit growth 7%.

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skinner66 28th Jun 2 of 4

not being rude but how many Neutrals do you post.. how about posting postive shares,,ok some have ups and downs im no expert.. but kind safe saying neutral

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iwright7 28th Jun 3 of 4
3

In reply to post #378419

Regarding Neutrals I too use the term to classify the vast majority of companies. Of the 2500 listed companies I am interested in less than 5% (<125) and and will buy about 1% (25) which are for various reasons are the ones I am most positive about. There is a lot of dross out there to be Neutral about!

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matylda 29th Jun 4 of 4
2

In reply to post #378419

No problem.

Not being rude, but I have no idea how many "Neutrals" I post or what you mean by safe.

There's a full list of shares I hold on my website, should be in the footer to this reply, including for completeness, ones on my Avoid List, ones on my Watchlist and of course ones I am Neutral on.

Hope it helps.

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