Morning all!
Elektron Technology ( Elektron Technology (LON:EKT) ) – 41.5p – £77.2m – PER 30.4
Trading Update For The 6 Months To End July 2018 – Revenue up 16.9% (ahead of expectations) with Net Cash at £6.8m (up from £2.0m in July 2017), £5.2m in January 2018). FY to be ahead of market expectations.
I still just can’t make my mind up here (spidey senses or something), it looks like a great growth opportunity but it also seems priced for this on a PER of 30+. I am going to remain Neutral for now.
North Midland Construction ( North Midland Construction (LON:NMD) ) – 336p – £34.1m – PER 83.0
Interim Results For The 6 Months To End June 2018 – Revenue up 19%, PBT up 103.6%, Cash up £138.4% (to £18.89m), Current Order book £320m (£270m last time), Proposed Dividend up 100%. This statement got my attention “Our focus on margin enhancement (104% ahead of last year) and cash generation (138% ahead of last year) is beginning to show returns and is anticipated to continue going forward.”
This is of more interest after this update but not enough to change my view from Neutral at present.
EKF Diagnostics ( EKF Diagnostics Holdings (LON:EKF) ) – 36.7p – £167.9m – PER 30.5
Trading Update – Marginally ahead.
I still can’t get past the valuation here, based on forecasts – I remain Neutral.
As always, all comment most welcome!
