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

Monday, Jan 07 2019 by

Morning all!

Mattioli Woods ( Mattioli Woods (LON:MTW) ) – 660p – £174m – PER 15.2

Trading Update For The 6 Months To End November 2018 – Seems to be basically in-line.

I do quite like this and there is potential value here but I still think it's just a little too expensive for me at present.

Churchill China ( Churchill China (LON:CHH) ) – 940p – £103m – PER 13.9

Trading Update For The 12 Months To End December 2018 – Expects operating performance to be ahead of current market estimates.

Liking this more following this update, it's going on my Watchlist for more research, perhaps even today. Note: On a PER of 14 or so - It's got Cash, a Brand, great ROCE, Op Margin, Double Digit growth, a well covered 2.5% Yield.

UP Global Sourcing Holdings ( UP Global Sourcing Holdings (LON:UPGS) ) – 39.5p – £32.4m – PER 6.92

Trading Update For FY 2019 – Stronger than expected Revenue growth and EBITDA to be above the market's current expectations.

Will take this off my Avoid list now and keep an eye out for the actuals (the real profit).

MPAC ( MPAC (LON:MPAC) ) – 109p – £22m – PER 9.73

Trading Update For The 12 Months To End December 2018 – "Sales and profit before tax are expected to be in line with market expectations (subject to year end audit), supported by a strong closing orderbook which will provide a platform for continued growth in 2019".

After being burnt here previously I would prefer to wait and see the actuals – That's what I will do.

Impax Asset Management ( Impax Asset Management (LON:IPX) ) – 205.5p – £268m – PER 16.2

Q1 Assets Under Management (AUM) Update – AUM down -8% on the quarter.

Outflows to be expected in a downturn, for now I still prefer Miton (MGR).

As always, all comment most welcome!

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Mattioli Woods plc is engaged in providing wealth management, employee benefits and professional advises. The Company’s wealth management service includes: financial planning, which provide wealth building and trust planning; investments service include portfolio management, structured products and individual savings account (ISA); pension includes providing self-invested personnel pension and small Self-Administered Scheme(SSAS); property includes real estate investment trust (REIT), mortgage advice and legal services; protection includes life insurance and income protection. Employee benefits include flexible benefits pensions and workplace saving, guidance for lifetime, employee engagement, international, and mergers and acquisitions. Professional advises include providing self-invested personal pension advice. It operates through multiple offices in United Kingdom. more »

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Churchill China plc is a United Kingdom-based manufacturer and distributor of tabletop products to the hospitality and retail sectors across the world. The Company's customers include pub, restaurant and hotel chains, sports and conference venues, health and education establishments, and contract caterers. The Company's segments include Hospitality and Retail. The Company primarily offers ceramic tableware. The Company also manufactures and sources product sold through Retail customers for consumer use in the home, in various markets across the world. The Company offers Churchill branded manufactured products. The Company offers various types of products, such as accessories, beverage pots, bowls and dishes, cake stands, cookware, cups, mugs, cutlery, dip pots and sauce dishes, glassware, jugs, melamine items, plate towers, plates, saucers and wooden items. Its collections include Alchemy Fine China, Churchill Super Vitrified, Art de Cuisine, Sola Cutlery and Lucaris Glassware. more »

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UP Global Sourcing Holdings plc is a United Kingdom-based owner, licensee, designer, developer and manager of a series of brands focused on the home. The Company develops, designs, sources and distributes a range of consumer products, focused on six product categories: small domestic appliances (SDA), housewares, audio, laundry, heating and cooling, and luggage. Its owned brands include Beldray, intempo, Constellation and Progress, and its brands under license include Salter and Russell Hobbs. It also offers products under brands, such as American Originals, George Wilkinson, Giles & Posner, Inspire, Portobello, Prolectrix and ZFrame. It products are sold to a cross-section of both national and international multi-channel retailers, as well as other national retail chains. It sells its range of products to over 300 retailers across approximately 40 countries. The Company caters to retailers, supermarkets, general retailers and online retailers. more »

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

5 Posts on this Thread show/hide all

MrContrarian 7th Jan 1 of 5

My morning smallcap tweet:

Avon Rubber (LON:AVON), Churchill China (LON:CHH), UP Global Sourcing Holdings (LON:UPGS), Mattioli Woods (LON:MTW), Infrastrata (LON:INFA)

Avon Rubber (AVON) wins US defence order worth up to $92.7m over a duration of up to seven years.
Churchill China (CHH) guides FY operating performance ahead of current market estimates.
UP Global Sourcing (UPGS) guides FY EBITDA above the market's expectations.
Mattioli Woods (MTW) guides FY profit in line with management's expectations despite rev growth slightly lower than expected.
Infrastrata (INFA) FY loss up to £1m. The gas storage development co issues going concern stmt, prob as expected. Did so last year

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simoan 7th Jan 2 of 5

Outflows to be expected in a downturn, for now I still prefer Miton (MGR).

Just to be clear they've reported net inflows since 30th Sept 2018 which under the market conditions from the beginning of October is encouraging. The actual performance including FX was worse than -8% but in line with the market.

All the best, Si

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andrea34l 7th Jan 3 of 5

Bloomsbury Publishing (LON:BMY) - announces strategic sales partnerships with leading publishers Rowman & Littlefield and Manchester University Press (MUP). "Both Rowman & Littlefield and Manchester University Press have been at the vanguard in creating their own platforms to support the growing demand for digital products. Sales representation through Bloomsbury will enable them to reach their core customers via Bloomsbury's extensive digital sales networks and market expertise".

Matylda, I assume in your comments about Churchill China (LON:CHH) that in stating double digit growth you are referring to profit, which at the interim level was up 22%? Revenue then was up a rather more modest 6%. Personally I prefer Portmeirion (LON:PMP) (which I hold) which at the interim level had revenue up almost twice that figure at 11.4%

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Beginner 7th Jan 4 of 5

In reply to post #433263

I have had dealings with MUP. I think it would be fair to point out that Mickey Mouse wears an MUP watch, and his friends laugh at him.

Interesting acquisition for Vertu Motors (LON:VTU) . They have bought Vans Direct. It is an advance in three ways. First it enhances their on-line presence. Secondly it greatly enlarges the credit book. Finally, I think, it gets them a first foot in the commercial leasing sector. This is an unloved sector, and the sales figures released today inspire little confidence. The UK withdrawing from the EU may also create some havoc in the short term. But I think this deserves having an eye kept on it.

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matylda 9th Jan 5 of 5

In reply to post #433263

Sorry - I was referring to EPS, correct.

Blog: Briefed Up
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