I Read The News Today Oh Boy! 6-Oct-2017

Friday, Oct 06 2017 by
15

Morning All!

Not a huge amount to cover this morning.

Finsbury Food (FIF)

Closure Of Grain D’Or And Trading Update For The Year To End June 2018 – Closure of a loss making factory (for the financial year to end June 2017 it reported an operating loss of £3.33 million on revenues of £28.5 million). Costs could be up to £10m spread over 7 years, but likely to be in the region of £6m. The Company will benefit from the cancellation of planned capital investment programmes in Grain D'Or, which were significant.

The Board's expectations for the year to end June 2018 remain consistent with the guidance previously delivered to the market, albeit that the adjusted profit performance will be achieved from a lower revenue base.

Seems like a positive move but I just get a bit of a calm before the storm feeling here – For some strange reason. Not something I would be investing in at present.

Hollywood Bowl (BOWL)

Trading Update For The Year To End September 2017 – Results expected to be marginally ahead of the Boards expectations. Group Revenue for the year up 8.9% and also considering (due to strong cash generation) a return of capital to shareholders. Tempted a little here, but on a PER of 15 it’s probably about fair value here. A correction to the 160p level (which has happened a number of times in the past) will be more tempting.

Motorpoint Group (MOTR)

Trading Update For The 6 Months To End September 2018 – Positive stuff here. Expecting Revenue growth of 18% LFL. Two new sites (one year old) are both delivering an encouraging performance – New Sheffield site, opened in April is building good sales momentum. This also looks like good news…

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On a PER of 8.13 - If there’s interest in the sector out there, this update should provide a tailwind here (for those not worried about the HUGE Net Debt).

RWS Holdings (RWS)

Trading Update For The Year To End September 2017 – The headline is “An outstanding year, strengthening our leading position in Life Sciences”. Revenues expected to be £163m vs £122m (33%+). Adjusted PBT is also expected to be ahead of market expectations. The group has benefitted from…

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Finsbury Food Group Plc is a United Kingdom-based bakery manufacturer. The Company is engaged in producing a range of cakes, bread and bakery snack products for retailers and the foodservice channel. The Company's segments include UK bakery, Overseas and Group Operations. The Company's UK Bakery segment manufactures and sells bakery products to the United Kingdom's multiple grocers and foodservice sectors. The UK bakery segment primarily includes the operations of Memory Lane Cakes Ltd, Lightbody Group Ltd, Campbells Cake Company Ltd, Johnstone's Food Service Ltd, Fletchers Bakeries Ltd and Nicholas & Harris Ltd. The Overseas segment is engaged in the distribution of the Company's product manufactured in the United Kingdom along with the sale of third party products primarily to Europe. Kara is the Company's foodservice brand. Its licensed brands include Disney, Thorntons, Weight Watchers, Vogel's, Village Bakery and Cranks. more »

LSE Price
67p
Change
 
Mkt Cap (£m)
87.4
P/E (fwd)
6.9
Yield (fwd)
5.5

Hollywood Bowl Group plc is a bowling entertainment operator in the United Kingdom. The Company is engaged in the operation of ten-pin bowling centers, as well as the development of new centers and other associated activities. It has a portfolio of approximately 50 centers operating across the United Kingdom. The Company's centers are located in multi-use leisure parks, and each center offers approximately 20 bowling lanes, on-site dining, licensed bars and family games arcades. Its brands include Hollywood Bowl, Bowlplex and AMF Bowling. Its Hollywood Bowl brand has over 30 centers situated in prime locations at leisure parks. Its Bowlplex brand has approximately 10 centers in prime locations at leisure parks. Its AMF Bowling has over 10 centers in non-prime locations. The Company's family-focused arcades offer games, such as air hockey and basketball hoops, games with prizes and video games. The Company's licensed bars offer a range of soft and alcoholic drinks. more »

LSE Price
217p
Change
1.4%
Mkt Cap (£m)
325.5
P/E (fwd)
15.0
Yield (fwd)
3.7

Motorpoint Group plc is an independent vehicle retailer in the United Kingdom. The Company's principal business is the sale of vehicles, of which are approximately two years old and which have covered over 15,000 miles. The Company sells vehicles from brands representing vehicle sales in the United Kingdom, with models from Ford, Vauxhall, Volkswagen, Nissan, Hyundai, Audi and BMW. The Company operates from over 10 retail sites across the United Kingdom. The Company has a national contact-center dealing with online enquiries. In addition to sales of vehicles, the Company operates Auction4Cars.com, a business to business online auction platform for vehicles. The Company also offers ancillary products to customers, including customer finance packages, vehicle guarantees, insurance products and vehicle protection treatments. more »

LSE Price
218p
Change
-2.7%
Mkt Cap (£m)
205.3
P/E (fwd)
11.0
Yield (fwd)
3.6



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


2 Posts on this Thread show/hide all

MrContrarian 6th Oct '17 1 of 2
3

My morning smallcap tweet: Butter boost brings baker benefit.

RWS Holdings (LON:RWS), Motorpoint (LON:MOTR), Mirada (LON:MIRA), Finsbury Food (LON:FIF), Hollywood Bowl (LON:BOWL)

RWS (RWS) Exp FY rev beat, up 34%, adj pretax beat.
Motorpoint (MOTR) H1 trading. Rev up 18% but margin down to 'more normalised levels'. Exp U/L pretax £10.5m (£6.4m).
Mirada (MIRA) wins SaaS contract with a Bolivian pay TV operator. No indication of rev. I'm long (and wrong).
Finsbury Food Group (FIF) confirms Closure of Grain D'Or factory. Will cost up to £10m cash, spread over a period of up to seven years, but more likely £6m. It lost £3.33m last year. Exp FY profit (before closure cost) in line but with oower rev. "his can be attributed to the temporary increase in butter prices which the Board believes is likely to recede in subsequent financial years. "
Hollywood Bowl Group (BOWL) Expect FY earnings marginally ahead of board exp. Still considering return of capital.

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Orangetree 6th Oct '17 2 of 2

Had high hopes for Finsbury Food. I guess the shares could go to 80p during this consolidation period.

Blog: Walbrock Research
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