I Read The News Today Oh Boy! 9-Apr-2019

Tuesday, Apr 09 2019 by

Morning all!

Anexo ( Anexo (LON:ANX) ) – 132p – £145m – PER 10.8

(Maiden) Results For The 12 Months To End December 2018 – Ahead of market expectations with Revenue up 24.7%, PBT down slightly (£14.3m) but up 10.3% excluding exceptionals (like IPO costs I guess), EPS up from 11.4p to 12p with a Dividend of 1.5p. This year has started in-line.

Looks OK but perhaps fairly priced here and it's a recent IPO – Not enough to tempt me at the moment.

Billington Holdings ( Billington Holdings (LON:BILN) ) – 279p – £36.1m – PER 9.3

Results For The 12 Months To End December 2018 – Revenue up 5.2%, PBT up 11.4%, EPS up 15.5% with the Dividend up 13%. Cash stands at £9.3m (up from £8.1m), strong start to 2019 with a robust Order book.

First coverage for me and looks encouraging enough, will keep an eye out for updated Broker notes here.

Cake Box Holdings ( Cake Box Holdings (LON:CBOX) ) – 156p – £62.6m – PER 15.3

Results For The 12 Months To End March 2019 – LFL Revenue growth of 6.5% (15% last time), FY to be in-line with current market expectations.

Could be value here, perhaps – I think I will be waiting to see the actuals though.

City Pub ( City Pub (LON:CPC) ) – 222p – £136m – PER 24.3

Results For The 12 Months To End December 2018 – Revenue up 22% (LFL 1.6%), Adjusted PBT up 60% from £3.2m to £5.1m (Reported of £2m after a -£0.7m Loss last time) and the Dividend is up 22%.

I still reckon this looks priced about right around the 200p level.

Gooch & Housego ( Gooch & Housego (LON:GHH) ) – 1160p – £289m – PER 19

Trading Update For The 6 Months To End March 2019 – In-line and expect FY to be in-line (with a significant H2 weighting).

Down from 1500p or so last time I commented on this, I still don't see ebough value to get me more…

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Billington Holdings Plc is a United-Kingdom based holding company providing management services to its subsidiaries. The Company operates as a designer, manufacturer and installer of structural steelwork, through its subsidiaries, Billington Structures Limited and Peter Marshall Steel Stairs Limited, and as a supplier of safety solutions and barrier systems to the construction industry, through its subsidiary, easi-edge Limited. Billington Structures Limited's projects include Next Distribution Centre, Doncaster; Brize Norton Aircraft Hangar; Aldi Distribution Centre, Cardiff; One New Bailey, Salford, and Wellington Place, Leeds. easi-edge Limited's projects include C Sovereign Square, Leeds; Central Square, Leeds; St. James Road, Glasgow, and City Campus, Glasgow. Peter Marshall Steel Stairs Limited's projects include London School of Economics, London; University Technical College, Peterborough; Cornwall Energy Recovery Centre, St. Austell, and Sanger Institute, Cambridge. more »

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Cake Box Holdings PLC is a United Kingdom-based franchise retailer and manufacturer of cakes. The Company operates its retail stores under the name Egg free Cake Box. It manufactures and sells personalized fresh cream and egg free cakes. The Company offers a range of cakes that include cup cakes, photo cakes, number cakes, fruit cakes, mendhi cakes, round cakes, kid’s cakes, platter cakes, and wedding cakes. It provides customized cakes for purchase on demand or ordered advance in store or online through https://www.eggfreecake.co.uk/. The Company operates over 110 franchise stores in the United Kingdom. more »

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8 Posts on this Thread show/hide all

MrContrarian 9th Apr 1 of 8

My morning smallcap tweet: Fat knight fails to rescue Debbie from clutches of lenders.

Sosandar (LON:SOS), Appscatter (LON:APPS), Colefax (LON:CFX), Connect (LON:CNCT), Pelatro (LON:PTRO), Debenhams (LON:DEB), £7DIG, Stride Gaming (LON:STR), Collagen Solutions (LON:COS)

Sosandar (SOS) guides FY rev up 228% to £4.44m, comfortably in line with market expectations. Gross margin 55%, up 558 bps. Loss expected to be in line with market expectations. I hold.
appScatter Group (APPS) RTO of US co Airpush and placing at 26.8p, a 55% premium! Placees get 1:1 warrants.
Colefax Group (CFX) tender offer for 8% of shares at at least 550p. SP is 475p.
Connect Group (CNCT) renews magazine distribution contract at £130m PA.
Pelatro (PTRO) secondary placing of 8% of co at 80p, a 17% discount.
Debenhams (DEB) Wipeout? Deadline passed for Mashley fat knight rescue to be approved. His post deadline £200m offer also rejected. Access to second half of new debt "will now only be available to the group's subsidiaries upon transfer of those subsidiaries into the ownership of a lender-approved entity." Would wipe out shareholders. I'm short.
7digital Group (7DIG) New CEO, CFO start. Decide material further equity and/or debt funding needed in the next quarter to meet going concern hurdle, significant dilution for holders.
Stride Gaming (STR) warns H1 net gaming rev 5% lower than expected. Also £400k extra technology and marketing investment in 51% held Passion Gaming.
Collagen Solutions (COS) guides FY rev up 18%, head of market expectations. Loss lower than expected. New FY trading in line.

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jonesj 9th Apr 2 of 8

In reply to post #467251

The Pelatro (LON:PTRO) placing is from one of the family members selling out nearly all his holding to spend the money on charity.    Not a good sign.
So not a placing for company expansion, or director's Bentleys.
No position, but I am monitoring this.

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matylda 9th Apr 3 of 8

In reply to post #467281

There's something just not quite right about that company in my view £PTRO

Blog: Briefed Up
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wilkonz 9th Apr 4 of 8

Thanks Matylda. Mission Marketing (LON:TMMG) certainly looking good. I'm long on these too and just breaking even today. The numbers seem promising for further growth.

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melody9999 9th Apr 5 of 8

Had not heard of Anexo before but I've been harrased by many companies recently who seem to think I have had a no fault accident. No way would I want to invest in a company providing such services.

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matylda 9th Apr 6 of 8

In reply to post #467446

Yes, there is that aspect to investing (or not) in such a company.

Blog: Briefed Up
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wilkonz 9th Apr 7 of 8

Simon Thompson has produced a detailed review of Mission Marketing (LON:TMMG) in Investors Chronicle online. The company has acquired two new major clients in the last year - Hewlett Packard and Amazon. The shares have jumped today from 63 pence to 70 pence. His target price is now 100 pence.

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matylda 9th Apr 8 of 8

In reply to post #467551

Thanks for flagging that up - I don't actually subscribe but I have a fair value price of 110p.

Blog: Briefed Up
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