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

Wednesday, Jun 06 2018 by

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…

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Amino Technologies Plc (Amino) is a provider of media and entertainment technology solutions. The Company works with over 250 operators in around 100 countries. Using Internet protocol (IP)/cloud innovation, it enables operators to meet the challenges they face as broadcast television (TV) and online moves to an all-IP future with managed over-the-top (OTT) offerings. It also helps operators to provide the features and functionality that the consumers are looking for in a multiscreen, multi-device entertainment world. Amino’s products include Amino TV, Amino OS and AminoVU. Amino TV is a multiscreen video platform designed for the subscriber segmentation. Amino OS is the software solutions for deploying and managing connected devices. AminoVU is the Company’s media server suite with home networking features for simultaneous streaming of live and recorded TV to a multiple of TVs, tablet and smartphones through the home using any combination of wired and wireless technology. more »

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Studio Retail Group plc, formerly 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 »

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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 »

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

4 Posts on this Thread show/hide all

MrContrarian 6th Jun '18 1 of 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 '18 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 '18 3 of 4

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 '18 4 of 4

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.

Blog: Briefed Up
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