Morning All!

Stadium ( Stadium (LON:SDM) ) – 8-Nov-2017 – 102.5p – £42.6m – PER 8.75

Trading Update  – Expects to report YoY Revenue increase of 15% to £61m (£53.1m last time). Customer delays mean PBT will be below current market expectations (single digit percentage growth). Increased Net Debt also expected. On the plus side, the order book is a record £32m+ (up from £25.8m at 31-Dec-2016) and double-digit revenue and PBT growth is expected next year.

On a PER of 8.75 already, any dip here could be a decent buying opportunity. Although that Net Debt of £6.54m (15% of Mkt Cap) which is expected to increase is a concern – I'm on the fence here.

Innovaderma ( Innovaderma (LON:IDP) ) – 8-Nov-2017 – 229p – £32.5m – PER 16

AGM Statement And Operational Update – Quite a bullish update but no financials mentioned. New product (Roots) will go into 521 Superdrug stores from January 2018. The Executive Chairman states that “Growth prospects remain substantial” – Of course they do!

Since floating about a year ago this share has been on a rollercoaster, from 70p to 400 to todays level. I just have no idea how to take this one. It says it wants to replicate the success of Skinny Tan (with the Roots product for example) – I just have to wonder how successful Skinny Tan has really been.

Tracsis  ( Tracsis (LON:TRCS) ) – 8-Nov-2017 – 500p – £137.9m – PER 21.1

Audited Results For The Year Ended July 2017 – Classed as a “further period of good trading”, Revenue is up 6% to £34.5m (£32.6m last time), Pre-tax Profit is up 14% to £4.6m (£4.0m last time), Cash stands at £15.4m (£11.4m last time) and the full year Dividend is up 17% to 1.4p per share.

On a PER of 21.1 this looks fairly valued around here.

Craneware ( Craneware (LON:CRW) ) – 8-Nov-2017 – 1492.5p – £405.1m – PER 34.9

AGM Statement – A positive start to the 4 months of this year, well positioned to execute the growth strategy.

I do quite like this - Steady increases…

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