Morning All!

S &U ( S&U (LON:SUS) ) – 2420p – £290.2m – PER 10.4

Trading Update For The Period 1st August To 6th December 2017 – Demand for products remains robust.

There’s quite a lot to like here (except the £81.1m Net Debt, 25%+ of Mkt Cap), I will put it on my Watchlist for now.

Caretech Holdings ( Caretech Holdings (LON:CTH) ) – 426p – £322.6m – PER 12.0

Preliminary Results For The Year Ending September 2017 – Revenue up 11.4% to £166.0m (2016: £149.0m), underlying PBT up by 12.6% to £29.4m (2016: £26.1m), underlying EPS remained at 38.03p per share due to a share placement - Property portfolio valued at £329m.

Seems reasonably priced here but Net Debt remains high at £147.1m (40% of Mkt Cap). That aside it does have attractions.

MJ Gleeson ( MJ Gleeson (LON:GLE) ) – 755p – £407.2m – PER 13.6

AGM Statement – Expecting results for the full year to June 2018 to be broadly in line with results for the prior financial year - H1 results may fall below those of the prior year, in this event, H2 is likely to be significantly stronger than the first. Then it states “The Board, therefore, remains confident that the results for the full year to 30 June 2018 will be in line with expectations”.

I quite like this still but the update is a little strange to me. The first statement is that full year results should be the same as last year and a follow up statement confirms the full year will be in line with expectations. Even just looking at the EPS, it’s supposed to be 52.6 in 2018 versus 48.5 in 2017 – I am confused enough to remain on the side-line for now. Perhaps I’ve missed something here!

Clipper Logistics ( Clipper Logistics (LON:CLG) ) – 426.75p – £421.2m – PER 23.3

Interim Results For The 6 Months To End October 2017 – Headline “Continuing strong growth in line with expectations”. And, I quite like this, Revenue up 21.1% to £199.7m (2016: £164.9m), PBT up 15.6% to £7.9m (2016: £6.9m), EPS up 18.9%…

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