Review of LSE listed JTC Plc, Motorpoint Group Plc and Consort Medical Plc

  • Nov 01, 2019 GMT
  • Team Kalkine
Review of LSE listed JTC Plc, Motorpoint Group Plc and Consort Medical Plc
JTC Plc

JTC Plc is the United Kingdom based company providing professional services in fund management, corporate services and private wealth management services to private as well as corporate institutional clients. The company’s business is divided into two verticals according to the client type being serviced, namely the Institutional Client Services vertical and Private Client Services vertical. The Institutional Client Services vertical provides Fund Services and Corporate Services to corporate clients and institutional entities. The Private Client Services vertical provides Private Wealth management Services and Corporate Services to private family offices, high net worth individual clients (HNWIs) and ultra-high net worth individual clients (UHNWIs).

The company was founded in 1987 and has its registered office in Jersey. It has operations in about 17 different countries including Africa, Europe, the United States of America, and in the Cayman Islands.

The company’s share was admitted to the London Stock Exchange for trading on 14 March 2018, where they trade with the ticker name JTC.

Results Update

The company on 17 September 2019, published its interim results for the half-year period ended 30 June 2019.

Insights from Financial Results published on 17 September 2019
  • The revenue of the company was up by 32 per cent at £46.6 million for the six-month period ended 30 June 2019 against the revenue of £35.3 million for the six-month period ended 30 June 2018, reflecting a combination of good net organic and inorganic growth.
  • The Adjusted underlying EBITDA of the company was up by 35.2 per cent at £14.3 million against H1 2018 Adjusted underlying EBITDA of £10.5 million; Adjusted underlying EBITDA margin witnessed an increase of 0.7 percentage points during the period.
  • The EBIT for the period was £10.6 million compared to EBIT loss of £7.7 million suffered by the company in H1 2018.
  • During the six-month period ended 30 June 2019 £5.9 million worth of annualised new business were secured from existing as well as new clients, for H1 2018 the figure stood at £4.8 million. The company’s Organic new business enquiry pipeline was at £33.1 million on 30 June 2019, while on 30 June 2018 the pipeline value stood at £25.8 million.
  • During the six-month period ended 30 June 2019 the company acquired Exequtive Partners, of Luxembourg which provides corporate and related fiduciary services to clients. This acquisition broadens and deepens the company’s proposition in a key ICS marketplace.
  • The Board of the company recommended an interim dividend of 1.7 pence per share for the six-month period ended 30 June 2019, whereas for the six-month period ended 30 June 2018 the recommended interim dividend was 1.0 pence per share. The dividend recommended was in line with the company’s dividend policy. If approved at the AGM will be paid on 25 October 2019 to shareholders of the company whose names appear on the register as at close of business on the record date of 27 September 2019.

Insights from Financial Results published on 17 September 2019

Performance at the London Stock Exchange

Price Chart as on 01 November 2019 before market close Price Chart as on 01 November 2019, before the market close (Source: Thomson Reuters)

On 01 November 2019, at the time of writing the report (before the market close, GMT 9.34 AM), JTC shares were trading on the London Stock Exchange at GBX 371.00.

The stock of the company has a 52-week High of GBX 440.00 and a 52-week low of GBX 272.00. The total market capitalisation of the company at the time of writing this report was £410.12 million.

Outlook

The company’s performance for the first half-year period remained in consonance with its guidance of the full-year net organic growth in the range of 8-10 per cent and is on track to continue into the second half aided by a strong pipeline of new assignments won since the end of the reported period.

An amenable resolution of Brexit remains a key issue for the company; however, the company is well-organised and well-positioned to navigate through any type of macro-environmental scenario and take advantage of any opportunities which may arise as a result of any changes that may occur in the geopolitical and economic landscape in Europe. The company is trading as per the Board expectations, and it is confident to carry on this momentum into H2 2019 as well.

Motorpoint Group Plc

Motorpoint Group Plc is the United Kingdom domiciled largest independent retailer of vehicles. The company’s main business activity is the sales of nearly new motor vehicles, which are no more than two years old and which have no more than 15,000 miles of mileage on them. The company operates through 12 retail sites spread across the United Kingdom; Glasgow, Newport, Derby, Burnley, Peterborough, Chingford, Birtley, Castleford, Birmingham, Widnes, Oldbury and Sheffield. Out of the above five have opened in the past five years; along with a national contact centre which deals with online enquiries. The company is responsible for selling vehicles from brands representing over 95 per cent of all new vehicle sales in the United Kingdom, with models from Volkswagen, Nissan, Hyundai, Audi, Ford, Vauxhall and BMW being amongst the top sellers.

The shares of the company have their listing on the main market segment of the London Stock Exchange, where they trade under the ticker MOTR.

Trading Update

The company on 8 October 2019 came out with its half-year trading update ahead of its interim results release for the six-month period ending 30 September 2019.

  • The company expects to report revenue growth of circa 1 per cent for the six-month period compared to the same period last year.
  • The company’s gross margin for the first half of the year is expected to be broadly in line with the margins of the previous year.
  • The overhead costs of the company for the period are anticipated to be circa £2 million higher than what they were for the comparable period last year, although half of this cost is non-recurring in nature.
Performance at the London Stock Exchange

Performance at the London Stock ExchangePrice Chart as on 01 November 2019, before the market close (Source: Thomson Reuters)

On 01 November 2019, at the time of writing the report (before the market close, GMT 8.45 AM), MOTR shares were trading on the London Stock Exchange at GBX 244.00.

The stock of the company has a 52-week High of GBX 260.00 and a 52-week low of GBX 170.00. The total market capitalisation of the company at the time of writing this report was £222.59 million.

Outlook

The Board of the company remains confident that their full-year expectations will be met. The company is confident that its recent trading performance and strong current stock profile makes it well placed to continue to expand its market share while its management continues to evaluate the further potential of new site opportunities.

Consort Medical Plc

Consort Medical Plc is the United Kingdom domiciled leading, global, supplier of single-source pharma services drug and delivery devices. The company has two subsidiaries namely; Bespak - It is a leading manufacturer of devices for the point of care diagnostics market and also a global market leader in the manufacture of drug delivery devices for pharmaceutical partner companies, including injectables, respiratory, nasal and ocular products. Aesica - It is a prominent supplier of finished dose manufacturing services and active pharmaceutical ingredient (API) development services to pharma partner companies of Aesica.

The company employs approximately 2,000 people around the globe, of which nearly 1,400 are employed in the United Kingdom. Within the United Kingdom the company has facilities in Nelson, Milton Keynes, Cramlington, Queensborough, King's Lynn, Cambridge and Hemel Hempstead. In Germany, the company’s facilities are in Zwickau and, Monheim and in Italy, the company operates a facility in Pianezza.

The shares of the company have a listing on the London Stock Exchange in the main market segment where they use the ticker name CSRT for trading.

Trading Update

The company on 18 October 2019 came out with a trading update regarding the commercial agreement for the development of the company’s proprietary VapourSoft technology with Regeneron Pharmaceuticals, Inc., a leading global biopharmaceutical company.

  • VapourSoft is one of a range of novel technologies developed at Consort's Innovation Centre based in Cambridge, which facilitates the delivery of a broader range of drug formulations and in volumes, through the use of a liquid-gas propellant, rather than a spring to drive the delivery of the drug.
  • The agreement also provides that the parties would formalise a full commercial supply agreement should the vendee company elects to commercialise the device, with the manufacturing of the device to be undertaken by the vendor for both the VapourSoft technology and the drug delivery apparatus itself.

The commercial agreement with Regeneron Pharmaceuticals, Inc. underpins the potential applicability of the proprietary VapourSoft technology as a power source for auto-injectors and the potential for its incorporation into devices where conventional systems may not be suitable.

Performance at the London Stock Exchange

Price Chart as on 01 November 2019Price Chart as on 01 November 2019, before the market close (Source: Thomson Reuters)

On 01 November 2019, at the time of writing the report (before the market close, GMT 8.45 AM), CSRT shares were trading on the London Stock Exchange at GBX 724.00.

The stock of the company has a 52-week High of GBX 1,150.00 and a 52-week low of GBX 700.00. The total market capitalisation of the company at the time of writing this report was £359.28 million.

With Bank of England reducing the interest rates to a historic low level, the spotlight is back on diverse investment opportunities. 

Amidst this, are you getting worried about these falling interest rates and wondering where to put your money?

Well! Team Kalkine has a solution for you. You still can earn a relatively stable income by putting money in the dividend-paying stocks.

We think it is the perfect time when you should start accumulating selective dividend stocks to beat the low-interest rates, while we provide a tailored offering in view of valuable stock opportunities and any dividend cut backs to be considered amid scenarios including a prolonged market meltdown.

To know more about these dividend stocks, click here

CLICK HERE FOR YOUR FREE REPORT!
   
x
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK