Good morning everyone!

First up, I'd like to mention that there are a few spaces left in the "StockSlam" coming up this Thursday, July 26th. It's an opportunity to meet other investors, and (while there are still a few spaces left) to present the case for your favourite stock. Here's the link.

In terms of company news today, we have:

There are lots of trading updates, including from:

3.30pm: Putting in some quick comments now, as I'm running out of time.

  • Cenkos Securities (LON:CNKS) (-13%) - full year revenue for 2018 is set to be materially below 2017, due to tough comparatives and a difficult start to the year. I don't intend to buy back into this labour-intensive company but I can't deny that its shares are exceedingly cheap for a business which has never made a loss and has been very generous to shareholders in the good times. At the end of last year, it had net assets of £30 million and cash of £37 million. The market cap is now £48 million.
  • Motorpoint (LON:MOTR) - trading in line with expectations, no change.
  • Charles Stanley (LON:CAY) - trading in line with expectations. As you were.

IG Group (LON:IGG)

  • Share price: 860p (-0.6%)
  • No. of shares: 368 million
  • Market cap: £3,164 million

Results for the Year ended 31 May 2018

(Please note that I currently own IGG shares.)

These results from IG are in line with expectations.

The company has performed very well, yet again. Operating profit is up 32% thanks to improvement both in net revenue (+16%) and in the operating margin.

Cash flow generation remains excellent. Net cash of £228 million is generated from operating activities, about the same as reported net income of £226 million. Of this, less than 10% is reinvested in PPE and intangible assets.


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