Dish of the day
Kistos (KIST.L) readmitted to AIM, following the Company's successful Equity Financing in connection with the Acquisition of Tulip Oil Netherlands. Tulip Oil has a portfolio of assets which include profitable, cash generative producing assets, plus exploration and appraisal assets. Tulip Oil has 19.5 mmboe of 2P reserves and has 102.1 mmboe contingent resources.
Boanerges Limited (AQSE:BNRG), admitted onto the Aquis Stock Exchange. The Directors believe that an opportunity exis
Companies: ASMO DDDD EML EQT IES KEFI MHC PTRO ROL XTR
As midsummer’s day looms (where has this year gone?), there is greater optimism, in general, than may have been anticipated a few months ago. A post-pandemic, ‘vaccine-driven’ recovery demonstrated by increased consumer spending as lockdown measures are lifted has been one of the catalysts. The FTSE 100 has been range-bound in the last month 6,900-7,100. We have seen a combination of broadly positive company results across a range of sectors, further examples of M&A activity and a sequence of ne
Companies: AMYT ARBB ARW BAG BEG BONH BWNG CWK DNK EML EPWN FBD FA/ GPH GSF GNC HUW IGC INSE KAPE KP2 MMAG NRR NESF OTMP ROL RUA SEN SUR TON TOU TXP TGL VLS WINK
Sky News reports that a surge in pandemic-fuelled activity by homebound traders is propelling AvaTrade towards a London stock market listing that could value it at up to £700m. Established in 2006, AvaTrade is one of a number of platforms - including CMC Markets, Plus500 and IG Group - which enable their customers to trade contracts for difference.
PensionBee, the online pensions provider, with a mission to make pensions simple, so that everyone can look forward to a happy retirement, conside
Companies: FA/ TYM PCF ROL SHED PRM TLY BMK CMET ADA
AMTE Power, a developer and manufacturer of lithium-ion battery cells for specialist markets, announced its intention to seek admission to trading on AIM. Admission is expected to take place during March 2021. The Company intends to raise approximately £7m by way of a placing of new ordinary shares in the capital of the Company. Timing TBC. Samarkand Group Limited, the cross-border eCommerce technology and retail group opening up the world's largest market for brands and retailers, intends to IP
Companies: SBI OCI IDOX ROL JAN BSE PXS SHED TSG KDNC
In the last fortnight, we have surrendered some of the notable progress made over the last three months. That said, the optimism displayed by markets, driven by progress with vaccines and their rollout, persists. The recent direction of markets has been set by volatility in US markets, driven by specific retail market developments. Domestically, we have seen a broadly upbeat procession of results and trading updates/outlooks have, generally, been at least in line. The share price reactions have
Companies: AJIT ARW CEG BVC BAG BEG BON BWNG CLG CRPR EYE ECHO EPWN FDM FA/ GPH GNC HUW INSE KAPE KP2 MNZS NMCN NRR OBD PPC QFI ROL SAVE SCS SEN SOS SUR SNX TON TMG TGL TCN UEM VLS W7L WINK WYN
Cenkos Securities plc has terminated coverage of Rotala Plc. Our previous recommendation (BUY) and forecasts can no longer be relied upon.
Please contact Cenkos for further information.
Companies: Rotala plc
As a provider of essential services, Rotala has benefited from Government grants designed to ensure continued delivery of bus services which, together with actions taken to control costs, have allowed the group to generate positive monthly cash flow and EBITDA since May. Due to uncertainty around the pandemic's duration and its impact upon demand, we do not produce forecasts at this stage. However, we maintain our Buy recommendation, which is supported by (i) the Government's pledge to continue
Rotala has delivered a solid set of results for FY19A, which were largely in line with our forecasts (Adj EPS of 7.35p vs our 7.5p forecast). The importance of bus services have risen up the political agenda in recent months, and we expect the industry to attract increasing levels of government funding in the years ahead, which should support operators like Rotala. We reaffirm our Buy recommendation.
Rotala's trading update confirms the government will provide necessary financial support to bus operators to ensure the continuation of their essential services throughout the Covid-19 crisis. Given the uncertainty around when conditions will return to normal, we withdraw our forecasts. However, we maintain our Buy recommendation, believing that the company remains capable of generating profitability approximately in line with our prior FY20E forecasts once life returns to normal, and that even
Intention to float by Gemfields Group. No Capital Raise. Currently listed on JSE. (GML:JNB) at circa £122m. The Group's key producing assets, the Kagem emerald mine in Zambia (believed to be the world's single largest producing emerald mine) and the Montepuez ruby mine in Mozambique (one of the most significant recently discovered ruby deposits in the world), are both expected to have long mine-lives with potential for expansion. Also owns the Faberge brand. Due Valentines Day 2020.
Companies: KOD NKTN SAE ROL JAY HAT BLOE STX TPG GHE
Rotala has released a positive trading update for FY19E, confirming that trading was in-line with market expectations, and that FY20E had started well. With increased government focus on infrastructure spend in the West Midlands and the North West (which accounts for approximately two thirds of Rotala's revenue), including expected upgrades to the bus network, we see opportunities for Rotala to benefit in the years ahead.
Rotala has produced a robust set of Interim Results, with improved profitably YoY. We maintain our forecasts as trading remains in line with expectations. Trading on an FY19E P/E of 7.8x and offering a 4.8% prospective dividend yield, we feel the stock offers good value to investors. Buy.
Following the recently announced acquisition of a bus depot in Bolton from First Manchester, Rotala has raised net proceeds of £1.1m at 56p in a share placing to repay debt and strengthen its balance sheet. Buy.
The prospective £5.3m acquisition of a depot in Bolton from First Manchester strengthens Rotala's position, increasing its regional market share from 4% to 13%, and offering material synergy opportunities. This will be purchased using the Company's existing bank facilities, and is expected to be earnings accretive (c5%) in its first full year.
Airtel Africa Limited — provider of telecommunications and mobile money services, with a presence in 14 countries in Africa, primarily in East Africa and Central and West Africa, looking to join the premium segment of the main market. Offer TBC, expected TBC
ReAssure Group plc - The Group is a leading closed book life insurance consolidator in the United Kingdom with 4.3m policies, £68.7 billion of assets under administration on a Post-L&G Illustrative Basis. It is considering a premium listing
Companies: CCS ZNWD IGAS ROL TEK ITM HAYD STAF ARCM
Research Tree provides access to ongoing research coverage, media content and regulatory news on Rotala plc.
We currently have 38 research reports from 4
AFC Energy’s statements and recent integration work with ABB highlight growing interest from customers which bodes well for orders in the months ahead. The forthcoming S-series of products will expand the Group’s portfolio and should deliver much high power densities and improved economics. The deployment of fuel cell technology is increasingly recognised by Governments and industry as a key tool in reducing global greenhouse gas emissions, which we expect will drive momentum for deployment in a
Companies: AFC Energy plc
Structuring the BUY case
Companies: Somero Enterprises, Inc.
AFC Energy announced that it has entered a hydrogen fuel cell supply and
collaboration agreement with partner, Urban-Air Port Limited (“Urban-Air”), a
leading UK developer of ground infrastructure for the growing demand in
autonomous airborne drones and electric take-off and landing passenger
XPD has reported strong H1 earnings with revenue up c.27% and adjusted PBT up c.74%; results were in line with our estimates. Revenue growth was strong across all three divisions - Freight Forwarding, Warehousing & Logistics and Transport Solutions. XPD benefited from continuing strong shipment and pallet flows in the CEE region, extra UK customs work related to Brexit, a partial turnaround in UK warehousing, and more DKV-linked fuel cards activity. Profit increased in Freight Forwarding and Tra
Companies: Xpediator Plc
Companies: Ceres Power Holdings plc
Powerhouse’s partner HUI’s funding of long lead time items shows a commitment to the company’s first European project in our view. As with Powerhouse’s own funding of similar items at the initial UK project, this helps to de-risk the timeline and moves the company towards establishing a wider European market.
Companies: Powerhouse Energy Group PLC
Velocys continues to see supportive policies develop with the recent US proposed Sustainable Aviation Fuel tax credit adding to the potential attractiveness of projects in America. The company continues to progress its reference projects at Bayou in Mississippi and has provided technology under licence to Red Rock Biofuels in Oregon. Further policy support can only be helpful in growing opportunities for the company in North America in our view.
Companies: Velocys plc
Companies: Kier Group plc
Xpediator has announced a solid set of interim results, with revenue growing strongly across all three divisions, and group Adj PBT up c74% YoY to £3.6m. Xpediator has reaffirmed its FY21E Adj PBT guidance of in excess of £8.5m, with H2 being a seasonally busier period for the company. We update our forecasts to reflect increased expected working capital requirements during the year, leaving all other projections unchanged. Trading on a T+1 EV/EBIT of 10.8x, Xpediator remains at a 32% discount t
Companies: DX (Group) Plc
Companies: Staffline Group plc
Companies: SThree plc
Despite the challenges presented by the pandemic, TP Group Plc delivered strong organic revenue growth of c14% YoY in H1/21A, with Adj EBITDA increasing to £1.7m (H1/20A: £1.4m). Improving visibility leads us to upgrade our revenue forecasts by c4% for FY21E to £66.0m (90%+ of which was covered by the order book at H1/21A). Expanding margins in the Consulting division are expected to be offset by temporary margin pressure on Engineering contracts during FY21E (our £4.2m FY21E EBITDA remains unch
Companies: TP Group Plc
Here we go again
Oil gained a third week as investors focused on the ongoing production shut-ins in the US Gulf of Mexico as more refineries have resumed operations nearly two weeks after Hurricane Ida tore through the region.
Futures in New York posted its longest set of weekly gains since July after ending Friday 2.3% higher. More than a million barrels a day of US offshore crude production remains shut in after Ida swept through the area nearly two weeks ago. Meanwhile, more Louisiana refineries are resumi
Companies: FO 88E DEC EME GTC TRIN UOG WEN