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

Tuesday, Mar 06 2018 by
18

Morning all – A lot to get through so apologies in advance for any errors, etc. Do please let me know to correct any silly or confusing ones.

Headlam ( Headlam (LON:HEAD) ) – 529p – £448.9m – PER 11.7

Final Results For The 12 Months To End December 2017 – Seems about in-line to me.

This was on my Watchlist at 530p – There’s a well covered Dividend of circa 4%+ and a decent cash pile. Based on the slow growth here though I am going to lower that Watchlist price to 450p for now.

Huntsworth ( Huntsworth (LON:HNT) ) – 77.6p – £256.2m – PER 12.6

Preliminary Results For The 12 Months To End December 2017 – Revenue up 9% at £197.0m (2016: £180.1m), PBT up 52% at £24.4m (2016: £16.0m), Diluted EPS 5.8p (2016: 4.0p) and the Total Dividend for the year will be 2.0p (2016: 1.75p). Net Debt is up from £31.6m to £36.3m. CEO - “Despite increasing FX headwinds, the year has started well with good trading momentum and Huntsworth is well positioned for further growth in 2018".

Doubled in 2018 it looks like it has the potential to keep going. Considering an initial investment here, if not it will go on my Watchlist, 75p.

LoopUp ( LoopUp (LON:LOOP) ) – 339.99p – £143.5m – PER 50.7

Preliminary Results For The 12 Months To End December 2017 – Revenue up to £17.5m (up 33.5% CC) ahead of market expectations. Customer spread improved. EBITDA up 161%, Operating Profit £0.7m, Diluted EPS up 722% to 4.4p (0.5p last time) and now Debt Free with Cash of £2.9m. Outlook is confident.

Almost tempted to pay up here, just seems to be going places this company. Can’t remember the last time I paid up on a PER of 50+ though. If I don’t get involved soon I will leave it on my Watchlist, 280p

MPAC ( MPAC (LON:MPAC) ) – 182p – £36.7m – PER 17.4

Final Results For The 12 Months To End December 2017 – Previously Molins. “Excellent progress on the Group's strategic initiatives”, Order book 35% higher than at the start of 2017, Sales…

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Headlam Group Plc is a United Kingdom-based company, which is engaged in the marketing, supply and distribution of a range of floorcovering products. The Company's operations are focused on providing customers, principally independent floorcovering retailers and contractors, with a range of floorcovering products supported by a next day delivery service. The Company operates through 56 operating segments in the United Kingdom and five operating segments in Continental Europe. Each operating segment is a trading operation aligned to the sales, marketing, supply and distribution of floorcovering products. The Company's activities and facilities are located throughout the United Kingdom, France, Switzerland and the Netherlands. Its business in France operates from approximately two distribution centers and over 20 service centers, and the businesses in Switzerland and the Netherlands each operate from a single distribution center. more »

LSE Price
435p
Change
1.3%
Mkt Cap (£m)
363.9
P/E (fwd)
10.9
Yield (fwd)
5.9

Huntsworth plc is a United Kingdom-based public relations and integrated healthcare communications company. The Company operates through segments, including Citigate, Grayling, Huntsworth Health and Red. Citigate offers communications services, including global financial, investor relations, corporate, consumer and public policy communications consultancy with an integrated network across the United Kingdom, Europe, the United States and Asia. Grayling is a global integrated communications network, covering marketing communications, public relations and public affairs. Grayling develops and manages reputations for a range of organizations across a range of sectors, including consumer brands, technology, energy, healthcare, financial services, transport and logistics, and governments. Huntsworth Health is a healthcare communications company. Red Consultancy is a United Kingdom-based multi-specialist, consumer focused communications consultancy. more »

LSE Price
93p
Change
-1.1%
Mkt Cap (£m)
347.1
P/E (fwd)
10.0
Yield (fwd)
2.9

LoopUp Group plc, formerly LoopUp Group Limited, is a software-as-a-service provider of remote meetings. The Company's product, LoopUp, is designed to eliminate frustrations associated with conference calls and deliver a remote meeting experience for mainstream business users. For hosts, the LoopUp meeting includes ability to create a meeting invite directly from Microsoft Outlook in over two clicks; a call start alert to their desktop and mobile/tablet devices as soon as their first invited guest joins the meeting; ability to identify who has the distracting background noise and mute their line, and ability to allow other guests to share their screen at the host's discretion. For guests, the LoopUp meeting includes clicking-to-join the meeting from a link in the invite, entering their name and phone number and LoopUp calls out to them. LoopUp plans include outlook integration, and one-click screen-sharing. Its data centers are located in London, Chicago, Hong Kong and Sydney. more »

LSE Price
64p
Change
-8.6%
Mkt Cap (£m)
38.7
P/E (fwd)
16.7
Yield (fwd)
n/a



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


4 Posts on this Thread show/hide all

MrContrarian 6th Mar '18 1 of 4
4

My morning smallcap tweet:

Havelock Europa (LON:HVE), Zamano (LON:ZMNO)

Havelock Europa (HVE) CFO resigns, leaves April. Sounds amicable.
Zamano (ZMNO) will be suspended on 9 March as it hasn't completed an RTO. Cash return and poss RTO consideration continues. Any RTO will still give cash return option.

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andrea34l 6th Mar '18 2 of 4
3

Thanks for the write-up, as always. I've only had the briefest look at the results for LoopUp (LON:LOOP) but I can't stomach paying up for this company at this price - I actually work it out that based on future growth of 35% in EPS then they are actually on a PER of 61.4, which I think is ludicrous.

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iwright7 6th Mar '18 3 of 4
7

Matylda,

Thanks as ever for your early morning commentary.

Re Craneware (LON:CRW) …. However, based on these interim's I cannot justify paying up on a PER of 43. Rightly or wrongly! What am I missing here?

I took a similar view and resisted buying Craneware for a long time. The reason I changed my mind is that it has return numbers that scream quality, good visibility and new contract wins.  My 1st purchase was in Nov 17 and then again last month during the US correction. As of today the shares are showing +26% gain, so I am well pleased.

The Naked Trader posted a typically forthright comment about this type of situation last week:

…..Trouble I feel with investors is they can't bear to buy shares that have already gone up a lot. They either "average down" (buy more of the same cxxp) or want to buy something that has been hit hard and gone down a lot. (See that's a bargain!). I continue to advocate: Don't average down. Average up! But it seems to me this is almost impossible psychologically for many. We want a bargain! But shares have often been falling for good reason...

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matylda 6th Mar '18 4 of 4
1

You're welcome guys and thanks for taking the time to add value.

LoopUp (LON:LOOP) - Yes it seems crazy.

Craneware (LON:CRW) - I don't mind paying for something that has already gone up but when I compare growth of, say 20%, with a PER of 50+ I just find that hard to pay up for. But, well done on the purchase to date.

Cheers!

Blog: Briefed Up
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