Morning all!
Air Partner ( £AIR ) – 91p – £48m – PER 11
Interim Results For The 6 Months To End July 2019 – Underlying PBT and EPS down circa -30%, Interim Dividend up 2.9%. Expect to make a profit in H2 and meet expectations, confident for next year.
No more tempted here until at least seeing FY actuals.
Hollywood Bowl ( £BOWL ) – 227p – £340m – PER 16
Trading Update For The 12 Months To End September 2019 – Strong trading, PBT to be slightly ahead (growth of circa 10%), considering returning additional capital to shareholders.
I still don’t see value here on a PER of 15+ but always seems steady enough and, I suspect the potential for a return of capital will help.
Motorpoint Group ( £MOTR ) – 217p – £197m – PER 11
Trading Update For The 6 Months To End September 2019 – Expects Revenue to be up 1%, Margins improved but overheads expected to be circa £2m higher (half non-recurring), £10m buy-back announced.
The sector is not one of interest to me still, watching and waiting for blood on the streets and a potential bargain!
Robert Walters ( £RWA ) – 490p – £372m – PER 10
Q3 Trading Update – Net Fee Income up 2%, UK letting the headline figure down, FY PBT to be in-line with last year (I see forecasts for 5% growth), Net Cash at £81.6m (£41.3m).
I expect this to be cheaper and more attractive sometime in the future.
Stock Spirits ( £STCK ) – 229p – £459m – PER 14
Trading Update For The 12 Months To End September 2019 – In-line.
Looks about fair value to me at these levels, doesn’t excite much at present.
As always, all comment most welcome!
