Small Cap Value Report (Thu 13 May 2021) - ALU, BOTB, TTG, LUCE, DX., ECEL, TENG
Good morning, it's Paul amp; Jack here with the SCVR for Thursday. Timing - update at 13:52 - I've got 2 more companies that I want to cover TTG, and LUCE, so estimated finish time 16:00.Update at 16:32 - today's report is now finished. Agenda - Paul's Section: Alumasc (LON:ALU) (I hold) - ahead of expectations update for this building products group. Looks good, but beware the pension scheme cash outflows, which partly explains why the PER is low. That said, the better the business performs, the less of an issue the pension scheme becomes. Best Of The Best (LON:BOTB) (I hold) - an in line trading update for FY 04/2021. A stunning increase in EPS from 37.5p last year, to 125.2p forecast for the year just ended. The PER of 22 is either very cheap (if growth continues), fairly priced, or expensive (if growth goes into reverse). Get out your crystal balls! Tt Electronics (LON:TTG) (I hold) - a solid trading update (towards upper end). Seems a decent business, at a reasonable valuation. Planning for double-digit operating margins with restructuring in the pipeline. Order book good. Cost pressures mentioned,...