Morning All!

Another busy morning, 10 updates follow…

Elegant Hotels ( Elegant Hotels (LON:EHG) ) – 96p – £85.3m – PER 10.4

Unaudited Results for the Year To End September 2017 – Revenue up 5.1% to $59.9m with PBT down 6.1% to $9.2m. EPS is down over 20% from 13.1c per share to 10.1c per share. Trading this year remains in-line with market expectations.

Held this until recently, quite a lot to like, including the well covered Dividend (almost 7%). It just wasn’t doing much and I decided that perhaps a hotel group is unlikely to grow very fast – In a down turn or with the continued rise of Airbnb. I am happy with my decision so far.

Nexus Infrastructure ( Nexus Infrastructure (LON:NEXS) ) – 235p – £89.6m – PER 10.8

Preliminary Results for the Year To End September 2017 – Revenue flat at £135.0m (in-line with expectations) and Operating Profit of £9.3m is ahead of expectations. Order book up 25% and Cash of £27.1m. Dividend for the year of 6.3p per share, in-line with policy.

Still quite like this, seems like a potential slow and steady tuck away. Great ROCE and Operating Margin, it’s got a decent Cash pile, a modest yield (about 3%). It’s on my Watchlist, 225p.

Carr’s ( Carr's (LON:CARR) ) – 124.1p – £113.4m – PER 10.5

Trading Update For The 18 Week Period To 6-Jan-2018 – In-line and pleased with how FY 2018 has commenced. Net Debt is up from £14.1m to £19.0m.

Even on a PER of 10.5, looks about fairly priced to me.

Robert Walters ( Robert Walters (LON:RWA) ) – 658p – £495.5m – PER 15.9

Trading Update For Q4 2017 – Net income up 19% and comfortably in-line with expectations.

Quite a lot to like here but I am not particularly keen on paying up for a recruitment company at present. If or when I take a liking to the sector this will be near the top of list.

Stock Spirits ( Stock Spirits (LON:STCK) ) – 264.5p – £529.0m – PER 18.2

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