Interim results to 30 June 2021 highlight the continuation of the recovery seen in H2 FY20. The Group’s Professional & Financial Services (PFS) division delivered an outstanding performance with strong demand for its services across all sectors. It moved from a loss of £2.9m in H1 FY20 to an operating profit of £3.1m in H1 FY21. The performance of Stock & Inventory Systems & Services (SISS) was adversely impacted by lockdowns in the period. Despite this, it reported a sharp reduction in operatin
Companies: Christie Group plc
What a difference a year makes - 12 months ago, the focus, quite understandably, was on the course of the pandemic and the lifting of the Lockdown (1) measures. For investors, it was the sustainability of the rally in markets seen since March 2020. Today, while we are still thinking about the lifting of lockdown measures, we are also concerned about two “old favourites” from previous decades. Inflation and the parlous state of public finances. The BoE has said that although CPI inflation rose to
Companies: AEMC BVC BAG BRSD BWNG CBOX CEG CTG CLG CML CRPR DNK EML ESC FAR FA/ GPH INSE MTW MOTR MMAG NRR NESF NMCN NSF OTMP OBD SAVE SCS STVG SNX SYS TMG TGL VLS VOG WYN
The Budget offered a clear picture of the state of the economy. Put simply, the economy will be 3% smaller in three years’ time than it would have been without the impact of the pandemic. However, it is forecast to return to pre-pandemic levels by mid-2022, six months earlier than previously thought. The OBR forecasts that the UK economy will grow by 4.1% in 2021, (lower than the 5.5% outlined in November 2020). It has set its GDP forecasts in 2022, 2023 and 2024 at 7.3%, 1.7% and 1.6%. Positive
Companies: AMYT ARBB CEG BVC BEG BRSD BWNG CBOX CTG CLG CML CWK EYE ECHO EML ESC FBD FA/ GSF HTWS INSE JDG MACF MTW NESF NAVF NSF NBI OTMP PCF PPC QFI SAVE SEN SNX TGL UTL VLS WYN
Foresight Group , the award-winning infrastructure and private equity investment manager has IPO’d on the Main Market (Premium). Offer price announced today at 420p . £455m market cap. £35m new money, £192m sell down. As at 30 September 2020, Foresight Group had AuM of approximately £6.8 billion and managed 292 infrastructure assets and 104 private equity investments on behalf of 33 Foresight investment vehicles. Foresight Infrastructure accounted for 90.2% of the Company's AuM (Foresight P
Companies: DXSP AMYT KRPZ ESO CGNR DUKE TPX CTG GOOD MRL
Interims to 30 June reflect the significant impact of the COVID-19 pandemic on the group’s operations. Revenues fell 50% to £18.8m and the group reported an operating loss of £5.5m (H1-19 profit £1.5m). The reduction is entirely attributable to the impact of the business interruption due to the pandemic. The group lost an entire quarter’s revenue and availed itself of the various government support schemes. Cash collection /retention remained strong, with cash & cash equivalents of £13.4m, inclu
Companies: FLTA AEG RNWH CTG UFO SYME THW SQZ
FY 2019 results reflect a positive year for the group. Revenues rose by 2.6% to £78m and operating profit increased by 41% to £5.8m. Professional & Financial Services division reported a 10% increase in operating profit to £6.2m, including an incentive fee relating to the successful disposal of the Wyevale Garden Centre portfolio. Stock & Inventory Systems & Services experienced a challenging period, reporting a loss of £2.0m. Trading in FY2020 started well but stalled following the outbreak of
Techniplas –global producer and support services company providing highly engineered and technically complex components, making the supply chain to original equipment manufacturers more efficient. FYDec17 rev $515m.
Loungers plc—the operator of 146 café/bar/restaurants across England and Wales under the Lounge and Cosy Club brands, announces its intention to seek admission on AIM, offer TBC, expected late April.
SDX Energy plc—a North Africa focused oil and gas company, announces its int
Companies: SML CYAN AFM ASO TWD DNL CTG RNO HVO NBI
Parliamentary and Brexit developments continue to hold centre stage, although the precise path forward remains as unclear as ever. The uncertainty over Brexit, worries over a possible slowdown in the US and the outlook for global economic growth generally have all contributed to the recent falls in markets. While the rally seen since the start of the year has petered out, most indices have still made progress. In Share News & Views we comment on Bloomsbury Publishing, Bonhill Group*, Braemar Shi
Companies: RUA APC BONH BMS CTG CRPR DMTR ESC EUSP FDM FA/ LWRF LSAI NKTN PCF SNX TCN VRE W7L
We have seen a continuation of the rally evident so far this year. The factors are familiar with greater optimism regarding US-China trade talks. At home, the path to Brexit remains unclear as D-day looms. The possibility of a delay has increased. The company reporting season continues to highlight winners and losers with the majority of results in line. We have also seen an uptick in corporate M&A. Results set the morning agenda and Brexit votes the evening one. In Share News & Views we comment
Companies: RUA APC BONH BMS CTG CRPR DMTR ESC EUSP FDM FA/ LSAI NKTN PCF SNX TCN VRE W7L
Roses are red – markets are blue! The rally since the start of the year resumed this week, after a pull-back last week. The FTSE 100 has risen due to the weakness of sterling and the impact on its dollar-earning constituents. More domestically-oriented indices have also risen but lagged more recently. The latest Brexit twist is due later with a statement to Parliament on the negotiations. Company news continue to dominate the morning headlines and amendment votes the evening ones. In Share News
We have seen a continuation of the rally seen since the start of the year, although some earlier momentum has been lost. The factors that influenced the market previously continue to dominate – US-China trade talks and the outlook for the global economy. The latest hurdles in the Brexit Withdrawal Bill are due later. Company updates dominate the morning headlines, late night votes dominate the evening ones. In Share News & Views we comment APC Technology*, Bonhill Group*, Braemar Shipping*, Esca
Companies: RUA APC BONH BMS CTG CRPR DMTR ESC EUSP FDM FA/ LSAI NKTN SNX TCN VRE W7L PCF
It may only be a fortnight into the new year but many of the factors that unnerved the market last month have continued to impact sentiment. The outcome of trade talks between the US and China, concerns about global economic growth and some poor trading statements, especially in the retail sector, have all featured. Above all, Brexit and the progress of the Withdrawal Bill have dominated with the latest “high noon” due later. Despite this, we have seen a good rally in the junior markets year to
Companies: RUA APC BONH BMS CTG CRPR DMTR ESC EUSP FDM FA/ LSAI NKTN PCF SNX TCN W7L
The instruction to “Deck the halls with boughs of holly” may represent a grateful relief, given the prickly time we have seen in markets over the last month or so. An unhelpful combination of the deadlock surrounding the Brexit process, concerns over the outlook for the global economy and some poor company results have resulted in all markets falling further. The impact on our universe is clear from the table below with AIM taking the significant pain. In Share News & Views we comment on APC*, C
Companies: RUA APC BONH BMS CTG CRPR DMTR ESC EUSP FDM FA/ NKTN PCF SNX TCN W7L LSAI
Research Tree provides access to ongoing research coverage, media content and regulatory news on Christie Group plc.
We currently have 36 research reports from 4
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Devolver Digital to join AIM, an award-winning digital video games publisher and developer in the indie games space. Recently awarded indie 'Publisher of the Year 2021' by GamesIndustry.biz. Offer TBA. Due early Nov.
Life Science REIT to join AIM raising up to £100m. This will be the first London listed real estate investment trust (REIT) focused on UK life science properties providing investors with exposure
Companies: SYS1 ARE SO4 SNG TMG TMT OHG IDE KIBO MRL
Softline, the global solutions and services provider in digital transformation and cybersecurity, with its headquarters in London, has issued GDRs to the Standard Listing Segment of the Official List, and on the Moscow Exchange. The Group had a turnover of US$1.8bn for the year ended 31 March 2021, employs c.6,000 people globally, and operates in more than 50 countries across emerging markets. Primary proceeds from the Offer are expected to be around US$400m. At the $7.5 offer price. Mkt
Companies: ULS CRU TM17 TEK ACSO RST ABC
We believe Keywords has a very strong business model, as it provides solutions throughout the development cycle. Keywords is an infrastructure play, benefitting from gaming industry tailwinds. 2021 is a step-change year. Thereafter we believe KWS EPS will continue to compound at attractive double-digit % rates.Buy
Companies: Keywords Studios plc
Tungsten West (TUN.L) has joined AIM. Tungsten West is the 100% owner and operator of the historical Hemerdon tungsten and tin mine located near Plymouth in southern Devon. Hemerdon represents the world's third largest tungsten mineral resource, with a JORC (2012) compliant Mineral Resource Estimate of approximately 325Mt at 0.12 WO3. Capital raised on Admission: £39m. Anticipated Mkt Cap: £106.2m.
Future Metals NL (ASX:FME, FME.L) (formerly named Red Emperor Resources NL) had joined AIM
Companies: SOLI RBD ALU ATQT BBI CWR DRV ORCP WATR
Sareum Holdings PLC have published Final Year Results. We have published research on this which is attached and a snapshot of the research is below.
The specialist drug development company delivering targeted small molecule therapeutics to improve the treatment of autoimmune diseases and cancer, announced its results for the year ended 30 June 2021. It has been a period of significant progress for its selective TYK2/JAK1 Inhibitors, which have reported further strong pre-clinical results, attra
Companies: Sareum Holdings plc
Arrow Exploration Corp. (AIM:AXL; TSXV:AXL), the high-growth operator with a portfolio of assets across key Colombian hydrocarbon basins, has joined AIM, alongside a fundraise of approximately £8.8m.
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ATOM headquartered in Leeds, focussed on the large-scale production of green hydrogen and ammonia intends to join AIM towards the end of the year. ATOME intends to be spun-out from AIM-listed President Energy Plc, an oil and gas com
Companies: SPA ECR KP2 SAR SYM
Today’s trading update from Driver Group is optimistic, highlighting a material improvement in activity levels during Q4 and a positive start to Q1 ’22. The rise in demand for the highermargin expert services, combined with a decline in the impact of the pandemic on decision making, a restructuring of the Middle East / APAC regions, and new offices, have resulted in renewed positive momentum. We have introduced estimates for FY21 and FY22, with the latter reflecting these strong growth drivers.
Companies: Driver Group Plc
Water Intelligence has released a very strong Q3 update and at the 9m stage has now already achieved our FY21 Normalised PBT forecast. Group revenues advanced +43% for the 9m, led by US Corporate-Owned Locations (+79%) and International Corporate-Owned Locations (+47%), supported by Franchise Royalty Income and Franchise-Related Sales, which both grew +4%. Normalised PBT for 9m was $6.5m, equal to our FY21 estimate. The group was very active in Q3, with a Midwest Home Builder contract win develo
Companies: Water Intelligence plc
Franchise Brands has released a positive trading update for the three months to 30 September 2021, the Group’s third quarter. Highlights include excellent growth from the Metro Rod franchisees who have increased system sales by 32% year-on-year (yoy) in the quarter and the recruitment of 52 new franchisees in the B2C division to date. Work on optimising the new integrated technology platform continues, improving the Metro Rod and Metro Plumb customer experience and enhancing the efficiency and p
Companies: Franchise Brands plc
Franchise Brands has released a very encouraging Q3 update which states that it has delivered record Q3 results that firmly underpin FY expectations. This robust performance was driven by Metro Rod, where systems sales grew +32%. As expected, Willow Pumps has seen a more muted recovery in its supply & installation operations due to its reliance on the housebuilding sector. Recruitment in the B2C sector has returned to pre-CV19 levels. Digital transformation at Metro Rod and Metro Plumb continues
RELX shares reached a new all-time high this morning following the publication of the group’s 9-month trading update. Investors welcomed the – long-awaited – bounce back in Exhibitions as well as the improved FY21e guidance.
Companies: RELX PLC
Companies: System1 Group PLC
Driver Group’s year end update confirms it expects to report adj. PBT in line with expectations and net cash a touch below at £6.5m (SCM previous forecast: £7.3m). It has seen a material improvement in activity levels during Q4, giving management confidence in the current year outlook. Our FY22 forecasts are therefore unchanged, continuing to show a material improvement in earnings. We see the current valuation (11.1x Sep. ’22 P/E and 5.7x EV/EBITDA) as undemanding against an improving outlook a
WATR continues to exceed expectations, as reflected in this morning's Q3-2021 announcement, showing 9-month revenue at $39.7m (up 43% YoY), EBITDA at $8.5m (up 48%) and adj. PBT at $6.5m (up 42%) – surpassing full year 2020 results on all counts. Consistently impressive revenue and profit growth rates over a number of years evidence the strength of the operating model and the value of the company's national presence as well as growing demand for their services arising from well-publicised and hi