Wednesday, July 18, 2012

Weds 18 July - morning report

Please note I published a report last night on Mecom, on the menu bar to the left. Looks a very cheap value situation to me, reporting next week.

Dreadful night's sleep, so might have to publish this & retire for another hour or two. Lots of RNSs. In no particular order, this is what catches my eye.

I didn't know that there was a Listed water dispensing system company, but there is, and it's called Waterlogic (WTL). Group revenues are expected to be in line with expectations, but it's not very clear whether profits are or not. With the shares on a historic PER of 51, my interest has therefore ceased as quickly as it began.

Consultancy firm Turner & Townsend has produced a solid-looking set of results, with revenue up 20% to £244m, and EBITDA up very nicely from £18.8m to £23.6m. They're not coming up on Morningstar, so I can't find the mkt cap, which is a pity as the results look good. Worthy of a further look in my opinion.

Datatec (DTC) says that growth is slowing due to Eurozone fallout, but forecasts remain unchanged. That seems to put it on a forecast PER of just under 10, so looks reasonably priced. Although I don't like the look of huge turnover, and thin margins.

Mobile Streams (MOS) reports improved sales & EBITDA, but then spoils it by saying that more than 90% of the company's cash is in Argentina, and hence subject to currency controls. Moving swiftly on ...

Software firm Brady reports strong growth, and confirms full year expectations.

Positive trading update from Netcall (NET).

A solid trading update from Judges Scientific (JDG), David Cicurel's acquisition vehicle for small companies in the scientific instruments area.

In-line Q1 Trad Statement from Speedy Hire.

FTSE 100 futures are currently up 17, so a fairly relaxed start is in the offing.

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