Morning all!
Connect ( Connect (LON:CNCT) ) – 37.35p – £92.5m – PER 3.36
Unaudited Preliminary Results For The 12 Months To End August 2018 – Revenue down -3.8%, PBT and EPS both down circa -40% - Statutory loss reported -£35.5m. No Final Dividend meaning the FY Dividend is down a total of -68.4% and Net Debt stands at £83.4m.
I said I would cease coverage here as this remains on my Avoid list – Just had a bit of spare time this morning so included an update only for that reason.
UP Global Sourcing Holdings ( UP Global Sourcing Holdings (LON:UPGS) ) – 38.5p – £31.6m – PER 7.06
Results For The 12 Months To End July 2018 – Revenue down -20%, Underlying PBT down -47%, Net Debt doubled to £12.8m and the Dividend has been almost cut in half.
Even though the “FY 2019 Order book ahead of this time last year, with current trading in line with expectations” this remains on my Avoid list for now.
Castleton Technology ( Castleton Technology (LON:CTP) ) – 90.5p – £73.6m – PER 14.7
Unaudited Interim Results For The 6 Months To End September 2018 – Revenue up 20% to £12.9m, PBT doubled from £0.2m to £0.5m - Intention to implement a progressive dividend policy for the FY.
I still quite like this but still see it fairly priced around the 100p level.
Zoo Digital ( Zoo Digital (LON:ZOO) ) – 122p – £90.7m – PER 61.9
Interim Results For The 6 Months To End September 2018 – Revenue up by 17% to $14.9m, Gross Profit flat at $4.9m (H1 FY18: $4.8m) and Adjusted EBITDA of $0.5m (H1 FY18: $1.3m) reflecting investment across the business to support future growth – FY in-line.
I remain Neutral for now.
As always, all comment most welcome!
