I Read The News Today Oh Boy! 8-Jan-2018

Monday, Jan 08 2018 by
29

Morning All!

A rather hectic start to the week…

Avingtrans ( Avingtrans (LON:AVG) ) – 193.25p – £59.3m – PER 36.3

Trading Update For The 6 Months To End November 2017 – An in-line update.

There’s things I like here and things I dislike. The rollercoaster ride of the Revenue, Profits, Share price and the PER of 36.3 is just enough to put me off.

H & T ( H & T (LON:HAT) ) – 326.5p – £122.2m – PER 10.5

Trading Update For The 12 Months To End December 2017 – Full Year PBT to be above current market expectations.

I have liked the look of this for a while and if I was not already involved in Ramsdens Holdings (LON:RFX) I would find it tricky to pick between the two. Perhaps I should hold both!

McBride ( McBride (LON:MCB) ) – 222.5p – £405.4m – PER 13.1

Trading Update For The 6 Months To End December 2017 – An in-line update, but wait a minute! It’s in-line with last year – “full year earnings to be broadly in line with the prior year”.

Expect this will get a bit of a battering here today, something I will be avoiding for some time.

Mothercare ( Mothercare (LON:MTC) ) – 62p – £105.9m – PER 8.99

Trading Update For The 12 Weeks To End December 2017 – Ouch! UK LFL sales down 7.2% (international down 3%), online sales down 6.9% and lower margins.

A share already on my Avoid list and one that will remain there.

Craneware ( Craneware (LON:CRW) ) – 1520p – £409.8m – PER 35.7

Trading Update For The 6 Months To End December 2017 – H1 strong and a significant new contract win too. Renewals (in value) at 100%. Expects Revenue and EBITDA to be up in H1 15% - 18%.

I still quite like this but on a PER in the 35 range I would expect more growth that 15% - 18%. As I note I do remember also saying this when the SP was 1250p and the PER was 30!

Dialight ( Dialight (LON:DIA) ) – 550p – £178.9m – PER 19.9

Trading Update – Chief Exec has been replaced. Expecting Revenue of £181m and EBIT of £9.7m this year, Cash of £12.8m.

These estimates are even lower than the woeful ones issued previously. It remains on my Avoid list for now.

System1 ( SysGroup (LON:SYS)1 ) – 399.7p – £49.8m – PER 18.1

Trading Update – It gets worse – Gross Profit this year now expected to be 20% lower than last year.

Much of this bad news may already be in the price. For me it still seems too expensive.

Bango ( Bango (LON:BGO) ) – 259.75p – £172.5m – PER 123.7

Trading Update For The 12 Months To End December 2017 – An in-line update.

The valuation is crazy!

Sorry about the delay in posting, all this news took me by surprise.

Hopefully there’s not too many mistakes! A good day to all.


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Avingtrans plc is a United Kingdom-based company, which is principally engaged in the provision of engineered components, systems and services to the energy, medical and traffic management industries around the world. The Company operates in energy and medical segment. The energy and medical segment is engaged in the designing and manufacturing of machined and fabricated pressure and vacuum vessels and process plant and equipment for the power, oil and gas and medical markets. The energy and medical segment is also engaged in the designing and manufacturing of fabricated poles and cabinets for roadside safety cameras and rail track signaling. The Company's geographical locations include the United Kingdom, Europe, North America and Rest of World. The Company's subsidiaries include Crown UK Limited, Stainless Metalcraft (Chatteris) Limited, Composite Products Ltd, Hayward Tyler Ltd and Peter Brotherhood Ltd. more »

LSE Price
219.5p
Change
 
Mkt Cap (£m)
68.2
P/E (fwd)
22.0
Yield (fwd)
1.7

H&T Group plc is a non-trading holding company. The Company provides a range of simple and accessible financial products tailored for a customer base, which has limited access to, or is excluded from, the traditional banking and finance sector. Its segments include Pawnbroking, which is engaged in providing secured loans against collateral (the pledge); Gold Purchasing, which is involved in buying Jewelry directly from customers through its stores; Retail, which is involved in retail sales of gold and jewelry, and the retail sales are forfeited items from the pawnbroking pledge book or refurbished items from its gold purchasing operations; Pawnbroking Scrap, which comprises various other proceeds from gold scrap sales other than those reported within Gold Purchasing; Personal Loans, which comprises income from its unsecured lending activities, and Other Services, which comprises third party check encashment, buyback, prepaid debit card product and foreign exchange currency services. more »

LSE Price
320p
Change
4.9%
Mkt Cap (£m)
120.5
P/E (fwd)
9.4
Yield (fwd)
3.8

McBride plc is a provider of private label household and personal care products. The Company is engaged in developing, producing and supplying its products to retailers across Europe. Its segments include Household, Personal Care & Aerosols (PCA) and Corporate. The Household segment consists of UK; North, including France, Belgium, Holland and Scandinavia; South, including Italy and Spain, and East, including Germany, Poland, Luxembourg and other Eastern Europe. The PCA segment comprises the Personal Care liquids, Skincare and Aerosols businesses of the Company's European operations, and also its activities in Asia. The Company's brands include Surcare, Clean and Fresh, McBride Direct, Limelite and Ovenpride. Its Surcare product range includes Surcare Sensitive Capsules, Surcare Sensitive Non-Bio Powder, Surcare Sensitive Non-Bio Powder and Surcare Sensitive Fabric Conditioner. The Company operates approximately 17 manufacturing sites in over 12 countries. more »

LSE Price
150p
Change
-3.9%
Mkt Cap (£m)
274.2
P/E (fwd)
10.1
Yield (fwd)
3.3



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6 Posts on this Thread show/hide all

MrContrarian 8th Jan 1 of 6
7

My morning smallcap tweet:

Mothercare (LON:MTC), Malvern International (LON:MLVN), H & T (LON:HAT), SysGroup (LON:SYS)1, Angle (LON:AGL), Tungsten (LON:TUNG), Dialight (LON:DIA), Maistro (LON:MAIS)

Mothercare (MTC) 12 wk trading: UK: rev -11%, LFL -7.2% including online -7%. Even online is down! Group rev -2.4%. Guidance: "we are not anticipating any improvement in the short-term market conditions for the UK and on this basis the adjusted group profit for the year is likely to be in the range of £1 - 5m."
Malvern International (MLVN) FY trading. H2 rev up over 25%. Exp FY pretax -£0.6m (-£1.3m). No F/C.
H&T Group (HAT) guides FY beat.
System1 Group (SYS1) warns again. Q3 trading worse than anticipated. Guides FY 'Gross Profit' down 20%, pretax a little over breakeven.
Angle (AGL) University paper shows Parsortix-based ARV7 test "may provide a wider understanding of ARV7 than other techniques with the potential for improved patient outcomes...estimates that an ARV7 test could save, on average, at least $5,000 per patient tested."
Tungsten (TUNG) At 31 Dec, Tungsten Network Finance total originated invoice outstandings £54.5 million up 89% on previous reported peak of £28.8m in the period to 31 Oct.
Dialight (DIA) warns on FY & CEO resigns. GUides rev £181m. "Dialight's recent product delivery performance is a significant disappointment to the Board."
Maistro (MAIS) - the new name for blur Group.

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Julianh 8th Jan 2 of 6
2

"A rose by any other name would not smell any sweeter" (with apologies to William Shakespeare and Juliet. And today we have two companies (SYS1 and MAIS) whose name changes have not improved their financial results or share price performance.

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jonno 8th Jan 3 of 6

One would expect the positive trading at £H &T to be reflected in the performance of Ramsdens Holdings, which Iike Matylda I hold, although best not to get too far ahead of oneself!

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matylda 8th Jan 4 of 6
1

Yes, I would expect RFX to move up a little today too, but you know when you expect something in the markets...

Re: name change, Surely should have been MAIS Bitcoin!

Blog: Briefed Up
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cafcash49 8th Jan 5 of 6
1

Matylda, I'm liking your posts, keep up the good work.
I too was thinking Craneware is a bit too rich but it is doing a lot right, I think it has further to go and some would say ignore PE's, good Co's are always expensive. I think it will grow into its valuation. Charles

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smatthews1 8th Jan 6 of 6
1

I don't want to write off Dialight (LON:DIA) just yet. Their problems look short term with regards to closing factories and moving around production, so I'm not surprised to see the revenue and profits taking a hit. But I think the share price is setting this up for a nice turnaround. I like the fact it has a decent cash pile and no debt, and up till now the demand for their lighting has been reasonably strong

However I'm not interested in these levels just yet, with the PE around 20 it's still to high for me, watching closely though.

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