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A very positive trading update from SDI Group justifies upgrading FY 2022 sales by 7% (£2.8m) to c.£45m. Part of this can be explained by a stronger-than-expected performance from Monmouth Scientific (acquired in H2 FY 2021) and slightly higher Atik sales, but the majority is attributable to strong growth across its broader business portfolio, with sales in these businesses estimated to have risen c.16% in H1, supporting earlier comments that order patterns were returning towards pre-pandemic no
Companies: SDI Group plc
SDI reported a strong set of interim results to 31 October that were in line with its trading update of 4 November, reporting an 89% increase in adjusted pre-tax profit, driven by 75% revenue growth. Organic growth of 42% benefited from peak shipments under the Atik OEM contract, expected to be completed by January, without which underlying business growth was still an impressive 24%. We leave our forecasts unchanged for now, but consider the prospect of upward revisions based on trading and acq
As highlighted in the full year results announcement last month, Oncimmune has seen a significant increase in business activity since the end of the summer. A number of deals have been signed with both new and existing customers, leading to a record quarter in terms of contract wins. These include two contract wins with two new large pharma customers investigating SLE, a condition that is currently incurable and difficult to diagnose. In addition, a number of other contracts are in late stage ne
Companies: Oncimmune Holdings Plc
Today’s update reveals many of the challenges flagged in September have persisted. Alongside rising input/logistics costs, and volatile customer ordering, revenue guidance has been reduced by 10%. We have rippled a similar reduction through to FY22, leading to EPS downgrades of 27% this year and 38% next year. The company continues to look to 2022 with confidence, and maintains its medium term ambitions for profitable expansion.
Companies: Venture Life Group Plc
CareTech is a specialist social care and educational services provider. This morning, the group has released full year results to 30 September, very much in line with October's year-end update and illustrating a highly creditable performance in what has been a very challenging market backdrop for care operators brought about by the pandemic. Strong cash generation in the year reduced the net debt to EBITDA ratio to 2.7x, while the upward valuation of the group's freehold and long leasehold prope
Companies: CareTech Holdings PLC
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Trinistar Liverpool S.a r.L announces its potential listing of a newly formed single asset company which will own the Capital Building in Liverpool on the IPSX. Upon admission the Company would become a real estate investment trust (REIT). The Capital Building occupies close to a 3.5 acre freehold site in the centre of Liverpool’s business district; the building comprises c425,000 square feet of predominantly of
Companies: ADBE ADBE SYM ARC AVCT CMCL CLIN DCTA FRAN OSI
Companies: PureTech Health PLC
IXICO has reported results for the 12-months to September 2021. In-line with its recent trading update, revenues were £9.2m while EBITDA was £1.7m, £0.1m ahead of our £1.6m estimate. We see these as strong results in a year impacted by the pandemic and Huntington's Disease (HD) trials de-scopes. The company ended FY21 with a strong order book (£18.8m), cash position of £6.7m and increased net assets of £11.2m. We are leaving our FY22E forecasts unchanged, which, following the announced trial hal
Companies: IXICO Plc
i(x) Net Zero, the investing company which focusses on Energy Transition and Sustainability in the Built Environment, announces its intention to join AIM. Following Admission, the Company intends to use the net proceeds of the proposed Fundraising to provide development and expansion capital to certain of its investee companies, for future investments in companies that fall primarily within its areas of interest in Energy Transition and Sustainability in the Built Environment and to provide work
Companies: AGM JAY TIDE GML JNEO ONC TYM
SkinBioTherapeutics has released its FY21A results for the 12-months to June 21. Calendar 21 has been a landmark year for SkinBioTherapeutics, capped by the launch of the company's first product, AxisBiotix-Ps in October. For FY21A, the pre-tax loss was c£1.5m versus our forecast loss of c£2.4m, which along with lower CAPEX, resulted in a stronger year-end cash balance of £4.6m than we had forecast. We believe the development of the two lead commercial pillars, SkinBiotix and AxisBiotix, is prog
Companies: SkinBioTherapeutics Plc
SDI Group has announced strong H1 results to 31 October 2021, in line with its trading update of 4 November. Revenue increased by 75% to £24.7m, including 42% organic growth, and adjusted operating profit rose by an even more impressive 82% to £5.8m. Monmouth Scientific and Uniform Engineering, both acquired in the second half of FY2021, contributed to the strong sales growth, alongside the well-flagged, significant one-off Covid-19 related contracts within Atik Cameras. However, it is very enco
Fusion’s interim (March to September) FY22 results confirmed good operational progress with revenues up by 20% to £2.3m on an underlying basis. Reported sales were higher at £2.4m, up by 28%, boosted by a £150k milestone, Fusion’s first such, received from the progression of a 2018 vintage project towards trials. We consider the growth in sales to be impressive considering marketing activities will have been conducted entirely virtually, rather than at traditional in-person conferences/shows. Op
Companies: Fusion Antibodies Plc
A positive AGM update from CVS this morning shows an excellent start to FY22, reporting strong 12.4% LFL sales growth. This reflects both the secular tailwind from a growing UK pet population and the continuing focus on optimal patient care/working-up of cases. The company does not comment on the CMA enquiry relating to a recent small acquisition. This is to be expected given the restriction terms under CMA guidelines. The transaction itself is not material in terms of scale. Importantly, the pr
Companies: CVS Group plc
OptiBiotix has announced the launch of a new sports nutrition product range, LeanBiome, which has been licensed to a leading global player in the beauty & nutrition market. The partner's new product line, containing LeanBiome, is scheduled to be rolled out from January 2022 in Europe and Asia and could be introduced in North America in due course. First orders worth £200k have been placed and the agreement is expected to generate a minimum of £1m in annualised recurring revenues to OptiBiotix. T
Companies: OptiBiotix Health PLC
Poolbeg has signed an option agreement with University College Dublin for MelioVac, a late preclinical-stage infectious disease vaccine for Burkholderia pseudomallei, the bacterium that causes the tropical disease melioidosis. The option provides a period of time for Poolbeg to complete its due dil
Companies: Poolbeg Pharma Ltd.