Morning all!
Altitude ( Altitude (LON:ALT) ) – 103p – £71m – PER 14
Trading Update For The 12 Months To End December 2018 – A Trading Update (for the year ending over 3 months ago when most are reporting actuals), weird! Anyway, it's an "in-line with market expectations" statement.
I remain un-interested here and a little perplexed as to why it's just getting round to issuing an update.
Epwin ( Epwin (LON:EPWN) ) – 73p – £104m – PER 7
Results For The 12 Months To End December 2018 – Revenue, Adjusted PBT, EPS, Dividend all down, Net Debt stable at £24.8m. Current trading is in-line.
The StockRank remains high (at 96) and I remain unconvinced.
Hollywood Bowl ( Hollywood Bowl (LON:BOWL) ) – 220p – £330m – PER 15.5
Trading Update For The 6 Months To End March 2019 – Revenue up 5.3% (4.4% LFL), continues to trade in-line with the Board's expectations.
I used to hold Ten Entertainment ( Ten Entertainment (LON:TEG) ) until recently but am now of the view, perhaps wrongly, that neither of these operators are worthy of a 15+ PER rating.
Norcros ( Norcros (LON:NXR) ) – 188p – £151m – PER 5.8
Trading Update For The 12 Months To End March 2019 – Expecting PBT to be in-line with Net Debt down from £47.1m to £36m.
Nice to see that Net Debt come down and if it was not for the Pension Liability (£29m or so) and the exposure to South Africa (30% or so of Revenues) this would be more attractive. Tempting but still a few too many barriers for me.
SRT Marine Systems ( SRT Marine Systems (LON:SRT) ) – 30p – £46m – PER 15
Trading Update For The 12 Months To End March 2019 – Expects Revenue of £20m and PBT of £3m with Net Cash at £3.9m. No mention of "expectations" here at all, lazy *****.
A huge improvement on last year (made a Loss), on a quick check this does look…
