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Mr's Smallcap Sweeps for Aug 2018

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MrContrarian
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Re: Mr's Smallcap Sweeps for Aug 2018

#163287

Postby MrContrarian » August 31st, 2018, 7:35 am

Smallcap Sweep. 31-Aug-18
RTN interims are like its menu - everything sounds great but the actual falls short.

Restaurant Group (RTN) H1 rev down 2%. LFL -3.7%. Adjusted EPS 7.8p (10p). Maintains div at 6.8p. "Good momentum post the end of the World Cup with like-for-like sales up 2.4% for the six weeks to 26 August 2018." Does not fess up poor July. Guides FY pretax broadly in-line with current market expectations "given the impact of adverse weather and the World Cup." But they are factored into forecasts!
Minoan Group (MIN) Debt knife edge as it fails to sell subsidiary in time to repay debt by today. "Board does not believe that the loan will be called pending the completion of negotiations and the culmination of the transaction, which should see it repaid in full...It expects to conclude imminently Heads of Terms, including exclusivity, for the sale of its T&L business, Stewart Travel Limited. The sale will be subject to shareholder approval."
One Media IP Group (OMIP) Proposed Placing (at 6p, a 42% discount) to raise a minimum of £1.9m and proposed Issue of up to £6m in Loan Notes. Will use cash to to acquire music publishing rights, artist recordings and songwriters’ rights. Is it really worth a 42% haircut to buy assets?


Notes (do not rely on the data)
RTN: Price=275.07. Cap=553m. F/C for current FY*: EPS= NA, Prospective PE= NA, Revenue=NA.
Restaurant Group (The) is an operator of restaurants and pub restaurants. Its trading brands are Frankie & Benny's, Chiquito and Coast to Coast.
MIN: Price=5.32. Cap=8m. F/C for current FY*: EPS= NA, Prospective PE= NA, Revenue=NA.
Minoan Group is a holding and management company. Through its subsidiaries, the company engages in the design, creation, development, and management of hotels and resorts, and in the operation of independent travel businesses.
OMIP: Price=10.06. Cap=9m. F/C for current FY*: EPS= NA, Prospective PE= NA, Revenue=NA.
One Media iP Group is a B2B and B2C digital content provider, exploiting intellectual property rights around music and video. It also licenses its music content for use in TV and film, advertising, video games and corporate websites.

* F/C for prev FY if Prelims released today
Data: yahoo, Google, Morningstar
DYOR, E&OE etc etc. Your sanity may be at risk if you invest in smallcaps. I may have a position in any or all of the shares covered.

RNSs
http://www.investegate.co.uk/index.aspx?limit=-1

@MrContrarian


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