I Read The News Today Oh Boy! 7-Feb-2019

Thursday, Feb 07 2019 by
15

Morning all!

Gattaca ( Gattaca (LON:GATC) ) – 111p – £35m – PER 4.6

Trading Update For The 6 Months To End January 2019 – Net fees up 2% with Net Debt down from £36m to £29m - FY in-line.

In this environment that Net Debt (coupled with pedestrian growth (reflected in the PER)) means I will be keeping this on my Avoid list for now.

On The Beach ( On The Beach (LON:OTB) ) – 440p – £577m – PER 16.7

AGM Trading Update For The 4 Months To End January 2019 – In-line with Revenue up 20%+.

This looks encouraging enough (30%+ off it's 52 Week High), I will keep an eye out for Broker updates here.

Superdry ( Superdry (LON:SDRY) ) – 508p – £416m – PER 8

Q3 Trading Update – In-line.

1st coverage here and need to do a little more research (almost 50% off it's 52 Week High) although not much tempted to the retail sector at present.

As always, all comment most welcome!

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Gattaca plc, formerly Matchtech Group plc, is a human capital resources business dealing with contract and permanent recruitment in the private and public sectors. The Company operates through two segments: Engineering and Technology. The Engineering segment comprises Barclay Meade and Alderwood recruitment consultancy brands. The Technology segment includes the Connectus recruitment consultancy brand. The Company is a provider of specialist recruitment services to the engineering and technology industries, both in the United Kingdom and internationally. The Company offers three core solutions: Contingent Workforce Solutions, Permanent Recruitment Process Outsourcing (RPO) and Total Workforce Solutions. more »

LSE Price
138.25p
Change
 
Mkt Cap (£m)
44.4
P/E (fwd)
5.5
Yield (fwd)
n/a

On the Beach Group plc is a United Kingdom-based online travel agent. The Company operates in two segments: Core and International. The Company's core segment conducts its activity through the United Kingdom Website (UK). The Company's international segment conducts its activity through Swedish Website (eBeach.se). The Company is an online retailer of beach short-haul beach holidays, primarily targeting customers in the United Kingdom under the On the Beach brand. The Company's technology platform enables customers to package the constituent components of their holiday (including flights, hotels and transfers) to build custom-made holidays from a range of flight and hotel combinations. The Company offers customers a range of flight and hotel products bookable through online channels (including by desktop, mobiles, tablets and applications) and over the phone. The Company's subsidiaries include On the Beach Beds Limited and On the Beach Travel Limited. more »

LSE Price
466p
Change
0.1%
Mkt Cap (£m)
611.2
P/E (fwd)
17.2
Yield (fwd)
0.9

Superdry PLC, formerly SuperGroup PLC, designs, produces and sells clothing and accessories under the Superdry brand in approximately 670 points of sale across the world, as well as online. The Company offers a range of products for men and women. The Company operates through three segments: Retail, Wholesale and Central costs. The Retail segment's principal activities consist of the operation of the United Kingdom, Republic of Ireland, European and the United States stores, concessions and all Internet sites. The Retail segment is involved in the sale to individual consumers of its brand and third party clothing, footwear and accessories. The Wholesale segment's principal activities consist of the ownership of brands, wholesale distribution of its brand products (clothing, footwear and accessories) across the world and trade sales. It offers a range of products, including t-shirts, polo shirts, hoods and sweats, joggers, tops, dresses, jackets, shirts, footwear, bags and accessories. more »

LSE Price
476.2p
Change
-1.1%
Mkt Cap (£m)
390.5
P/E (fwd)
8.9
Yield (fwd)
5.5



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


3 Posts on this Thread show/hide all

MrContrarian 7th Feb 1 of 3
3

My morning smallcap tweet: DPP=desperate placing price

DP Poland (LON:DPP), Tax Systems (LON:TAX), Randall & Quilter Investment Holdings (LON:RQIH), Kromek (LON:KMK), Allied Minds (LON:ALM)

DP Poland (DPP) £5.3m placing and 0.5m 'broker option' at 6p, a desperate 58% discount. A 2.7x dilution. Cash to maintain medium-term store roll-out and keep the lights on. CEO goes end June. He is thanked. Maybe he'll get free garlic wedges.
Tax Systems (TAX) possible cash offer at 110p, a 10% premium. It rose 6p yesterday.
Randall & Quilter (RQIH) £100m placing and token £7m open offer at 153p, 15% discount. Share count expands by 52%. WIll be used for acquisitions.
Kromek Group (KMK) £20m placing and token £1m open offer at 25p, a 9% discount. Cash needed for expansion.
Allied Minds (ALM) Gravy train switches to narrow guage. CEO agrees to "materially reduce her cash salary for 24 months, commencing with calendar year 2019, and to defer payment of the balance of her salary into 2021. Any earned bonus for 2019 and 2020 will be satisfied in shares rather than cash." Target annualised HQ cash operating expenses will be reduced by $5.6 million, or more than 40%.

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andrea34l 7th Feb 2 of 3
2

When you say the Q3 update from Superdry (LON:SDRY) is in-line, do you mean in-line with forecasts? They are so far off highs because there has been a string of trading disappointments... and they are certainly not out of the woods yet! The summary statement says "Superdry's performance has remained subdued during quarter three. We continued to be impacted by the ongoing product mix and relevance issues we have previously highlighted and by the lack of any prolonged period of cold weather in our key markets". They used to report 20+% increases in revenue and profit, and now the overall group revenue is down 1.5%!! I am also not at all keen on retail.... and especially not a company that is so weather-dependent.

The overall update from On The Beach (LON:OTB) seems reasonable... but although revenue shows a significant increase note that they say they are spending more on marketing whereas last year this was low - so don't expect profits to increase as much as revenue. For me they also spoil the end of the update by saying "The first four months of the new financial year has delivered another solid period of growth for the Group" - I HATE that word 'solid'... and perhaps this is a reference to forthcoming profits...

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matylda 7th Feb 3 of 3

Sorry about the late reply - Superdry (LON:SDRY) in-line is a reference to Underlying PBT for the FY (market expectations), apologies in my haste I was rather vague there this morning.

On The Beach (LON:OTB) - Not sure what solid refers to :(

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