Good morning, it’s Paul here!
My flu seems to have mostly cleared up overnight, so there’s a fighting chance that I might actually be able to produce a proper report today. Apologies for my lamentable performance on Monday amp; Tuesday.
7-8am initial skim
Redhall (LON:RHL)
Profit warning due to contract delays.
Full year (ending 30 Sep 2019) results likely to be “materially below” previous expectations.
Uncertainty over contracts, but makes positive noises on pipeline.
Doesn’t interest me at all.
Caretech Holdings (LON:CTH)
Half year trading update – is in line with expectations.
Net debt has roughly doubled to £297.5m, following a major acquisition called Cambian.
Says that it expects to be able to pass on cost increases to its customers (local authorities).
The sector doesn’t interest me (outsourced public services).
Castings (LON:CGS)
Trading update for year ended 31 Mar 2019.
Results expected to be ahead of market expectations.
Strong customer demand in H2, partly due to customer stockpiling (re Brexit, presumably).
Improved margins amp; productivity. Price increases passed on. Other management initiatives starting to bear fruit.
My view – the numbers look attractive here – a low PER of 11.5, decent amp; well-covered…
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