IndigoVision – 184p

21 May 2019 – director dealing

Non-executive director Vikki Macleod has purchased 10,000 shares in the company at 181p.  This follows other share purchases by directors and reinforces our recommendation of BUY.

Coral Products – 7.25p

20 May 2019 – trading update

Another trading update from the group has revealed that a combination of better trading and urgent management action will mean that the results for the year to 30 April will be better than previously expected.  In March, the company warned that results would be well below market expectations, but they are now not likely to be as bad as feared at that time.  With a number of new products likely to be introduced in the current financial year the group could see its performance improve and we rate the shares as a SPECULATIVE BUY.

WYG – 53.5p

20 May 2019 – offer for company

The company has seen its share price soar following the announcement that it has accepted a 55p per share cash bid from Tetra Tech. Inc.  With Tetra Tech already having received acceptances for over 70% of the shares the bid is set to go through and shareholders should ACCEPT THE OFFER.

Indigovision – 180.5p

16 May 2019 – AGM trading update

In the four months to 27 April 2019 trading was in line with market expectations.  As is usual, sales are expected to be weighted towards the second half of the year and the precise timing of our orders is difficult to predict. However, there should be a return to profitability in the current year.  During the period the company received two large customer orders, both in excess of US$1m. These orders relate to open space and car parking facilities in a substantial commercial building and a mass transit rail line, both in Malaysia.  The majority of the planned restructuring of the supply chain has been completed.  Production of IndigoVision products from the new facility in Mexico, which is intended to secure tariff-free access to the US market, has started recently.  IndigoVision has no debt and had cash on hand of US$2.5m as at 27 April 2019.  The conclusion of an invoice finance facility should also be announced in the near future.  The shares are a BUY.

Belvoir Lettings – 117.5p

16 May 2019 – AGM trading update

The company has described trading during the first quarter of the current financial year as ‘robust’.  It is outperforming in the three key markets in which it operates, residential lettings, property sales and financial services.  Growth in Management Service Fees from lettings of 6.3% was noticeably ahead of the reported year-on-year rental index of 1.2%, growth of 10.3% from sales Management Service Fees compared with a drop of 1.5% in property transactions, and net banking from financial services on a like-for-like basis was up 20%.  The company is, therefore, confident of meeting market expectations for the year ending December 2019.  We keep our BUY rating.

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