Alongside the multiple new contracts signed in fiscal 1H, CyanConnode’s smart meter intelligent module shipments continued to accelerate during the period. 315,000 modules were shipped, versus 92,000 in the same period last year and 481,000 for the entirety of FY’21. 1H’22 revenue came in at £4.1m, almost three times the comparative 1H’21 figure of £1.5m. The potentially immense market opportunity is starting to translate into large orders, accelerating shipment volumes, exceptionally strong rev
Companies: CyanConnode Holdings plc
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Bens Creek Group (BEN.L) has joined AIM. Bens Creek, together with its subsidiaries, will, on Admission, own and operate a metallurgical coal mine located on 10,000 acres in the southern part of the state of West Virginia and eastern edge of the Commonwealth of Kentucky, in the central Appalachian Basin of the eastern United States of America. The mine's operations are located primarily in Mingo County, West Virginia. The mine includes a wash plant
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Cyanconnode has released a strong trading update, highlighting the material jump in activity we factor into our forecasts. The Company is delivering on growth opportunities despite the challenges associated with COVID and global supply chains and expects to meet market expectations for the year. We remain buyers.
VSA Capital (AQSE:VSA) has joined the AQSE Growth Market. VSA Capital is an international investment banking and broking firm, with offices in London and Shanghai, providing corporate finance, advisory and capital markets services to private and public companies.
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Petershill Partners, Expected Intention to Float on the London Stock Exchange. Petershill Partners, a leading investment group providing bespoke capital and strat
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CyanConnode’s FY’21 results were ahead of market expectations, with all financial metrics showing a sharp improvement. YoY revenue growth was 163%, while the EBITDA loss reduced sharply, by 62%. During the year, contracts were signed for in excess of 350,000 modules, while a flurry of new contracts have been signed since end-March. Activity levels relating to the immense planned rollout in India are growing, while other regions (South East Asia, Africa) are starting to exhibit material contract
CyanConnode has released good FY21 results albeit with key headlines known from the April trading update, particularly the sharp acceleration in module deliveries which is beginning to demonstrate the Group's operational effectiveness. The press release paints a picture of a stable platform with an attractive technology which is increasingly delivering on new orders and gaining material traction with new and existing customers. Reiterate Buy.
CyanConnode has this week announced two major new orders, one in India, for 152,000 smart meter modules, and the other in Africa for 100,000 modules. Both are plus associated gateways, software licences and maintenance for full Advanced Metering Infrastructure (AMI). In India, the customer is a new one for CyanConnode, while the prime contractor is Schneider Electric (Schneider), one of the largest global manufacturers of infrastructure platforms. The details of the African contract remain confi
CyanConnode has announced that it has received a new contract from for a smart metering deployment in Africa. Following the recent equity raise and increasingly positive momentum in news flow, we view this contract as a good example of CyanConnode continuing to expand and diversify away from India and gaining support from new customers. Buy.
CyanConnode has announced that it has received a new contract from Schneider Electric to support a smart metering deployment in Northern India. Following the recent equity raise and increasing newsflow regarding building relationships and tendering in India, we view this contract as a good endorsement of CyanConnode's offering and reinvigorated operations in India. Buy.
We are entering a new economic era where the whole purpose of capitalism and the raison d’être of business are being debated. A lot of the recent focus has been on ESG and the part companies should play in achieving ESG aims, such as a netzero-carbon economy. In other words, some “stakeholders” believe businesses should not exist simply to generate profits, but expect them to contribute to broader goals. Whilst society looks to business with increasing expectations, it is increasingly evident th
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CyanConnode has announced a significant additional order in Thailand, securing a follow-on order for 31,000 smart meter modules and gateways. Substantial further orders are expected in Thailand, where the end customer is the second-largest state-owned utility company. Recent news flow from CyanConnode has been strong, including a heavily over-subscribed £3m fundraising in June 2021 and a major MOU with Intellismart, a key entity in the Indian smart meter deployment programme. Our DCF-based impli
Joiners: Orcadian Energy (ORCA.L), the North Sea focused, oil and gas development company, has joined AIM. The Company's key asset is the 100% interest in the Pilot oilfield, with audited proven and probable reserves of 78.8m barrels (audited by Sproule BV). Raised £33m at 40p. Mkt Cap £25.5m.
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CyanConnode has raised £3.15m of fresh equity at 9.5p in a heavily oversubscribed placing at a small premium to the recent closing share price. In our view, the demand and pricing of the placing is indicative of CyanConnode's exciting growth story, particularly in India and investors are beginning to acknowledge this. We reiterate our strong buy rating on the stock and see long term value some way above our new target price as the Group delivers on its opportunities.
CyanConnode has announced a non-binding Memorandum of Understanding (MOU) with IntelliSmart, a partially state-owed entity that is at the centre of the smart meter rollout programme in India. Under the terms of the MOU, CyanConnode will utilise its hybrid RF/cellulartechnologies for existing and new IntelliSmart smart meter contracts amounting to millions of units. In the context of the Indian Government’s programme to deploy 250 million smart meters, this is likely to be a leap forward for Cyan
CyanConnode has announced that it has signed an MoU with Intellismart in India, a smart meter asset provider to Indian utilities. This is an excellent development for the company in our view as it opens the way for tendering at much increased scale into the Indian smart meter roll out with potential to drive earnings upgrades to current year forecasts and beyond. Reiterate buy rating
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Wickes to demerge from Travis Perkins and list on the Main Market. Expected 28 April. Advance Energy to complete an RTO on AIM indirectly acquiring up to 50% of Carnarvon Petroleum Timor which holds a 100 per cent. working interest and is the contractor under the Buffalo PSC, offshore Timor-Leste. Carnarvon Petroleum Timor is a subsidiary of ASX listed company, Carnarvon Petroleum Limited. The net proceeds of the Placing of approximately £20.01m (approximately US$27.51mm) will be used to fund
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The Networking & Cyber and Bio-medical solutions technology specialist has published interim results to end June this morning. These reflect the strong underlying progress being achieved in both Bio-Medical and Networking & Cyber divisions, whilst noting the sale earlier this year of the NGSoft IT Services business, which reduced revenues by c.$7.3m (Shore Capital Markets estimate) in the period, generating a profit on disposal of $13.0m and net cash proceeds before tax of c.$18.7m. Strong opera
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Gamma continues to produce consistently good results with these interims reflecting a strong business performance in both the UK and European businesses. We increase estimates by c. 2% to reflect updated guidance and note the positive outlook comments in the announcement. The European business continues to evolve its footprint as the Group looks to accelerate the long-term growth in its Cloud PBX business. Margins are settling into a more consistent level in the UK Indirect business while mix, i
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Calnex Solutions has announced that due to continued strong levels of trading throughout H1/22, expected to be maintained in H2/22, FY22E revenue and profitability are anticipated to be materially ahead of expectations. We have consequently upgraded our PBT forecasts for FY22E and FY23E by 27.2% and 20.4% to £5.6m and £6.0m respectively. Calnex continues to accelerate its investment in R&D and broaden its product roadmap to benefit from the significant underlying growth drivers within the worldw
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