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Ian Pollard – Clarkson #CKN belatedly admits problems
Clarkson CKN expects both first half and full year profits to be materially below those of last year after the first quarters financial performance fell below the boards expectations. Blame is put on a challenging environment in shipping and offshore capital markets, which caused transactions to be put back, lower freight rates hit the tanker market, and the impact of the lower dollar which is the main currency used by the groups banking and and broking businesses.
It seems unbelievable that only six weeks agree, the company was so full of confidence for the future that it increased its final dividend by 12% after a strong performance in the year to 31st December and following early signs of recovery in shipping markets. On that very same day, the 12th March the chairman proclaimed that it was well positioned for the future and there were early signs of recovery in the shipping market. Does the Board really expect shareholders to believe that two thirds of the way through the first quarter there was not the slightest sign that the company had been hit by serious problems, the disclosure of which which are more than likely to send the share price into a nose dive when markets open this morning.
It actually opens today’s update with the startling confession that during the first quarter it faced ‘certain headwinds’ .Explanations are called for as to why shareholders and markets have been kept in such ignorance.
Rotork ROR Order intake rose by 27% on an organic constant currency basis during the quarter to the 1st April and the order book ended the quarter, 18.6% higher than it started it. The increase was experienced across all divisions and revenues for the full year are now expected to show mid to high singe digit growth.
Morgan Advanced Materials MGAM anticipates that full year headline profit margins will be slightly ahead of last year and also announces its departure from the Composite and Defence Systems business.
Lok’n Store Group LOK Group like for like revenue rose by 8.3% in the half year to the 31st January leading to a rise of 21.3% in adjusted profit before tax. The interim dividend is to be increased by 11% to 3p per share. The company is expected to continue to grow strongly and positive momentum has continued into the second half.
Beachfront villas & houses for sale in Greece; http://www.hiddengreece.net
Taylor Wimpey Still Hiking Selling Prices
Taylor Wimpey (TW.) enjoyed another record year in 2015. Despite imposing a whacking rise of 8% in average selling prices it sold 13,219 homes. It is pleased to note that the housing market has continued to strengthen in 2016 enabling it to impose even more price growth.
Just Eat (JE.) produced continuing strong global growth in 2015 with revenue up by 58%, underlying EBITDA by 83% and adjusted earnings per share by 57%. The strong trading has continued into 2016 and this years revenue is now expected to show a rise of some 40%
Ashtead (AHT) Whilst quarter 3 was another strong quarter, well up on a year ago, it was down on the previous 2 quarters. Profit before tax for the three months to t he end of January rose 16% and earnings per share 18%. For the first nine months of the year however, the figures were 19% and 22%. encouraging growth opportunities are seen for 2016.
Rotork (ROR) continues to be hit by challenging markets and weak oil prices. The shares have continued to slide since last May when they stood at 288p., to yesterdays 159.5p. Full year profit before tax has fallen by 27.8% on revenue down by 8.1% and basic earnings per share are down by 27.7%. The company claims that it is well placed to make progress over the medium to long term, which presumably means that the short term looks reasonably bleak.
Daily Actions – UK Main & AIM markets 26022016
Daily Actions is a daily summary analysis of changes in short term actions from our Daily Recs – AIM and Daily Recs Main markets reports. This report is typically distributed before the open of trading in London.
AIM Market
ST Rec. changed | ||
From | To | |
Basic Resources | ||
Centamin | Sell | Neutral |
Jubilee Platinum | Buy | Neutral |
Uru Metals | Buy | Neutral |
Regency Mines | Buy | Neutral |
Paternoster Resources | Neutral | Buy |
Chemicals | ||
Byotrol | Buy | Neutral |
Construction | ||
Michelmersh Brick Holdings | Neutral | Buy |
Financial Services | ||
ADVFN | Buy | Strong Buy |
Tengri Resources | Neutral | Buy |
Polar Capital Holdings | Neutral | Buy |
Food & Beverage | ||
PureCircle | Neutral | Buy |
Health Care | ||
Abcam | Neutral | Sell |
Epistem Holdings | Neutral | Buy |
Omega Diagnostics Group | Neutral | Buy |
Industrial Good & Services | ||
Cap-XX | Buy | Neutral |
Oil & Gas – Explorers | ||
Independent Resources | Neutral | Buy |
Retail | ||
Asos | Buy | Neutral |
Technology | ||
IQE | Buy | Neutral |
Pennant International Group | Buy | Neutral |
Telecommunications | ||
Alternative Networks | Neutral | Buy |
Utilities | ||
OPG Power Ventures | Neutral | Buy |
Main Market
ST Rec. changed | ||
From | To | |
Smiths Group | Buy | Neutral |
Banks | ||
Barclays | Buy | Neutral |
HSBC | Buy | Neutral |
Heavy Construction | ||
Balfour Beatty | Neutral | Sell |
Engineering & Machinery | ||
Halma | Sell | Neutral |
Rotork | Neutral | Buy |
Health | ||
Smith & Nephew | Neutral | Sell |
Media & Entertainment | ||
Pearson | Buy | Neutral |
Photo-Me International | Neutral | Sell |
St. Ives | Sell | Neutral |
UBM | Neutral | Sell |
Pharmaceuticals & Biotechnology | ||
Dechra Pharmaceuticals | Sell | Neutral |
Speciality & Other Finance | ||
Aberdeen Asset Management | Buy | Neutral |
Charles Stanley Group | Buy | Neutral |
Support Services | ||
Aggreko | Buy | Neutral |
AMEC Foster Wheeler | Buy | Neutral |
Bunzl | Sell | Neutral |
Dignity | Sell | Neutral |
RISK WARNING
Intellisys Intelligent Analysis Limited (‘Intellisys’) does not make personal recommendations. The information in this publication is provided solely to enable you to make your own investment decisions. If you are unsure about dealing in shares and other equity investments, you must contact your financial adviser as these types of investments may not be suitable for everyone. The value of stocks and shares, and the income from them, can fall as well as rise and you may not get back the full amount you originally invested. If denominated in a foreign currency, fluctuations in the exchange rate will also affect the value of stocks and shares and the income from them. Past performance is not necessarily a guide to future performance. You agree to abide fully with Intellisys’ Term & Conditions, which are available to www.intellisys.uk.com
The full reports are available from Intellisys Intelligent Analysis website (www.intellisys.uk.com) by clicking on the ‘Research’ tab.
DISCLAIMER: Intellisys Intelligent Analysis Limited has prepared this report. Intellisys (“Intellisys”) is the trading name of Intellisys Intelligent Analysis Limited. Intellisys Intelligent Analysis Limited is a provider of financial research reports that indicate the possible value of quoted company shares. The information contained within any and all of Intellisys’ reports are designed to present an objective assessment of the possible value or relative value of a company and/or an actuarial sector or stock market index. Intellisys utilises as extensive as possible range of valuation tools and proprietary systems to derive its outputs. The base data for the models are derived from sources believed to be accurate but Intellisys Intelligent Analysis Limited does not warrant or guarantee the accuracy or reliability of the source data or its models and proprietary systems. Subscribers, and casual readers, should not rely upon the Intellisys’ research outputs when forming specific investment decisions but should seek advice specific to their situation and investment requirements from a person authorised under the Financial Services and Markets Act 2000, before entering into any investment agreement.Intellisys Intelligent Analysis Limited has used reasonable care and skill in compiling the content of this report. No representation or warranty, expressed or implied, is given by any person as to the accuracy or completeness or accuracy of the information and no responsibility or liability is accepted to the accuracy or sufficiency of any of the information, for any errors, omissions or misstatements, negligent or otherwise. In no event will Intellisys Intelligent Analysis Limited, Intellisys or any of its officers, employees or agents be liable to any other party for any direct, indirect, special or other consequential damages arising from the use of this report.The Intellisys Intelligent Analysis Limited and/or Intellisys reports are not directed to any person in any jurisdiction where (by reason of that person’s nationality, residence or otherwise) the publication or availability of the Intellisys Intelligent Analysis Limited and/or Intellisys information may be prohibited. Persons in respect of whom such prohibitions apply must not access the Intellisys Intelligent Analysis Limited and/or Intellisys reports. Neither this document, nor any copy in whatever form of media, may be taken or transmitted into the United States, Canada, Australia, Ireland, South Africa or Japan or into any jurisdiction where it would be unlawful to do so. Any failure to comply with this restriction may constitute a violation of relevant local securities laws. Recipients of Intellisys Intelligent Analysis Limited and/or Intellisys reports outside the UK are not covered by the rules and regulations made for the protection of investors in the UK.
Any user distributing information taken from any Intellisys Intelligent Analysis Limited or Intellisys report and/or the Intellisys website, in whatever form, to any other person, agrees to attach a copy of this Disclaimer and the Terms and Conditions of Use pages and obtain the agreement of such other person to comply with the terms set forth. Intellisys’ published reports are published for information purposes and only available to market counterparties, high net-worth and sophisticated individual investors. No Intellisys report constitutes an offer or invitation to trade, sell, purchase or acquire any shares or other financial instruments in any company or any interest therein, nor shall it form the basis of any contract entered into for the sale of shares or any other financial instrument in any company. Intellisys Intelligent Analysis Limited believes that the information within each and any of its reports to be correct, but its accuracy or completeness cannot be guaranteed. No representation or warranty, expressed or implied, is given by any person as to the accuracy or completeness of the information and no responsibility or liability is accepted for the accuracy or sufficiency of any of the information, for any errors, omissions or mis-statements, negligent or otherwise. Intellisys Intelligent Analysis Limited (including its Directors, employees and representatives) or a connected person may have positions in or options or other financial instruments on any of the securities mentioned within a report, and may buy, sell or offer to purchase or sell such securities from time to time, subject to restrictions imposed by internal rules. Subscribers, and casual reader, are reminded that the value of any financial instrument may go up or down and that past performance is not necessarily a guide to future performance. Intellisys Intelligent Analysis Limited is not registered with or regulated by any financial regulatory authority and does not offer, provide or purport to provide or offer investment advice. Intellisys Intelligent Analysis Limited can be contacted at Woodfield Cottage, The Street, Mortimer, Berkshire, United Kingdom RG7 3DW. |
Daily Actions – UK Main & AIM markets 03022016
Daily Actions is a daily summary analysis of changes in short term actions from our Daily Recs – AIM and Daily Recs Main markets reports. This report is typically distributed before the open of trading in London.
AIM Market
ST Rec. changed | ||
From | To | |
Banks & Investment Banks | ||
London Capital Group Holding | Neutral | Sell |
Basic Resources | ||
Amur Minerals Corporation | Buy | Neutral |
Bezant Resources | Neutral | Buy |
Rose Petroleum | Neutral | Buy |
Zincox Resources | Buy | Neutral |
Paternoster Resources | Buy | Neutral |
Chemicals | ||
Inspiration Healthcare Group | Neutral | Buy |
Financial Services | ||
Amphion Innovations | Neutral | Buy |
Fletcher King | Neutral | Buy |
Health Care | ||
Abcam | Neutral | Sell |
Verona Pharma | Neutral | Buy |
Industrial Good & Services | ||
Restore | Neutral | Sell |
Oil & Gas – Producers | ||
PetroCeltic International | Neutral | Buy |
President Petroleum | Neutral | Buy |
Regal Petroleum | Buy | Neutral |
Retail | ||
CVS Group | Neutral | Sell |
Technology | ||
Indigovision Group | Buy | Neutral |
Nasstar | Neutral | Buy |
Travel & Leisure | ||
GVC Holdings | Neutral | Sell |
Utilities | ||
Modern Water | Buy | Neutral |
Main Market
ST Rec. changed | ||
From | To | |
Banks | ||
HSBC | Neutral | Buy |
Beverages | ||
Britvic | Sell | Neutral |
Engineering & Machinery | ||
IMI | Neutral | Buy |
Morgan Advanced Material | Neutral | Buy |
Rotork | Neutral | Buy |
Weir Group | Neutral | Buy |
Food Producers & Processors | ||
Dairy Crest | Neutral | Sell |
Unilever (UK) | Neutral | Sell |
General Retail | ||
JD Sports Fashion | Neutral | Sell |
Information Technology & Hardware | ||
Filtronic | Neutral | Sell |
Insurance | ||
Admiral Group | Neutral | Sell |
Leisure & Hotels | ||
Mitchells & Butlers | Neutral | Buy |
Media & Entertainment | ||
St. Ives | Neutral | Sell |
WPP | Sell | Neutral |
Personal Care & Household Products | ||
Reckitt Benckiser Group | Neutral | Sell |
Pharmaceuticals & Biotechnology | ||
AstraZeneca | Neutral | Sell |
Oxford Biomedica | Buy | Neutral |
Real Estate – REIT | ||
SEGRO | Sell | Neutral |
Real Estate – REIS | ||
CLS Holdings | Buy | Neutral |
Support Services | ||
Aggreko | Neutral | Buy |
Bunzl | Neutral | Sell |
Compass Group | Neutral | Sell |
Berendsen | Neutral | Sell |
Michael Page International | Neutral | Buy |
RPS Group | Neutral | Buy |
Telecommunication Services | ||
BT Group | Neutral | Sell |
Transport | ||
Northgate | Buy | Neutral |
RISK WARNING
Intellisys Intelligent Analysis Limited (‘Intellisys’) does not make personal recommendations. The information in this publication is provided solely to enable you to make your own investment decisions. If you are unsure about dealing in shares and other equity investments, you must contact your financial adviser as these types of investments may not be suitable for everyone. The value of stocks and shares, and the income from them, can fall as well as rise and you may not get back the full amount you originally invested. If denominated in a foreign currency, fluctuations in the exchange rate will also affect the value of stocks and shares and the income from them. Past performance is not necessarily a guide to future performance. You agree to abide fully with Intellisys’ Term & Conditions, which are available to www.intellisys.uk.com
The full reports are available from Intellisys Intelligent Analysis website (www.intellisys.uk.com) by clicking on the ‘Research’ tab.
DISCLAIMER: Intellisys Intelligent Analysis Limited has prepared this report. Intellisys (“Intellisys”) is the trading name of Intellisys Intelligent Analysis Limited. Intellisys Intelligent Analysis Limited is a provider of financial research reports that indicate the possible value of quoted company shares. The information contained within any and all of Intellisys’ reports are designed to present an objective assessment of the possible value or relative value of a company and/or an actuarial sector or stock market index. Intellisys utilises as extensive as possible range of valuation tools and proprietary systems to derive its outputs. The base data for the models are derived from sources believed to be accurate but Intellisys Intelligent Analysis Limited does not warrant or guarantee the accuracy or reliability of the source data or its models and proprietary systems. Subscribers, and casual readers, should not rely upon the Intellisys’ research outputs when forming specific investment decisions but should seek advice specific to their situation and investment requirements from a person authorised under the Financial Services and Markets Act 2000, before entering into any investment agreement.
Intellisys Intelligent Analysis Limited has used reasonable care and skill in compiling the content of this report. No representation or warranty, expressed or implied, is given by any person as to the accuracy or completeness or accuracy of the information and no responsibility or liability is accepted to the accuracy or sufficiency of any of the information, for any errors, omissions or misstatements, negligent or otherwise. In no event will Intellisys Intelligent Analysis Limited, Intellisys or any of its officers, employees or agents be liable to any other party for any direct, indirect, special or other consequential damages arising from the use of this report. The Intellisys Intelligent Analysis Limited and/or Intellisys reports are not directed to any person in any jurisdiction where (by reason of that person’s nationality, residence or otherwise) the publication or availability of the Intellisys Intelligent Analysis Limited and/or Intellisys information may be prohibited. Persons in respect of whom such prohibitions apply must not access the Intellisys Intelligent Analysis Limited and/or Intellisys reports. Neither this document, nor any copy in whatever form of media, may be taken or transmitted into the United States, Canada, Australia, Ireland, South Africa or Japan or into any jurisdiction where it would be unlawful to do so. Any failure to comply with this restriction may constitute a violation of relevant local securities laws. Recipients of Intellisys Intelligent Analysis Limited and/or Intellisys reports outside the UK are not covered by the rules and regulations made for the protection of investors in the UK. Any user distributing information taken from any Intellisys Intelligent Analysis Limited or Intellisys report and/or the Intellisys website, in whatever form, to any other person, agrees to attach a copy of this Disclaimer and the Terms and Conditions of Use pages and obtain the agreement of such other person to comply with the terms set forth. Intellisys’ published reports are published for information purposes and only available to market counterparties, high net-worth and sophisticated individual investors. No Intellisys report constitutes an offer or invitation to trade, sell, purchase or acquire any shares or other financial instruments in any company or any interest therein, nor shall it form the basis of any contract entered into for the sale of shares or any other financial instrument in any company. Intellisys Intelligent Analysis Limited believes that the information within each and any of its reports to be correct, but its accuracy or completeness cannot be guaranteed. No representation or warranty, expressed or implied, is given by any person as to the accuracy or completeness of the information and no responsibility or liability is accepted for the accuracy or sufficiency of any of the information, for any errors, omissions or mis-statements, negligent or otherwise. Intellisys Intelligent Analysis Limited (including its Directors, employees and representatives) or a connected person may have positions in or options or other financial instruments on any of the securities mentioned within a report, and may buy, sell or offer to purchase or sell such securities from time to time, subject to restrictions imposed by internal rules. Subscribers, and casual reader, are reminded that the value of any financial instrument may go up or down and that past performance is not necessarily a guide to future performance. Intellisys Intelligent Analysis Limited is not registered with or regulated by any financial regulatory authority and does not offer, provide or purport to provide or offer investment advice. Intellisys Intelligent Analysis Limited can be contacted at Woodfield Cottage, The Street, Mortimer, Berkshire, United Kingdom RG7 3DW. |