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Companies: SIXH, ABZA, AVO, AGY, APH, ARBB, AVCT, BNO, BUR, CAML, CMH, CLIG, COS, CMS, DNL, EVG, GTLY, GDR, GETB, INL, KOOV, LGEN, MCL, MUR, NSF, OXB, PHP, RE/, REDX, SCLP, SEE, SCE, TIME, TRX, TON, VAL, WJA, W7L, XPP, YGEN
The Monthly - Uncovering Accounting Frauds
by Hardman & Co, 1 Aug
Free Access
1pm | Abzena | Advanced Oncotherapy | Allergy Therapeutics | Alliance Pharma | Arbuthnot Banking | Avacta | Bionomics | Burford Capital | Chamberlin | City Of London Investment Group | Collagen Solutions | Diurnal | Evgen Pharma | Gateley | Genedrive | Inland Homes | Koovs | Morses Club | Murgitroyd | Non-Standard Finance | Oxford Biomedica | Premaitha Health | Primary Health Properties | R.E.A | Redx Pharma | Scancell | Surface Transforms | 600 Group | Tissue Regenix | Titon | ValiRx
"Hardman & Co’s analysts have direct experience of uncovering accounting frauds. In this article, Steve Clapham outlines why we might see a surge in them over the next few years. He is engaged by institutions to teach their fund managers and analysts how to identify risks brought about by such frauds. Hardman & Co is pleased to offer this service to private investors..."
Seeing Machines (SEE)
FY18 trading update | Cenkos, 3 Aug
Paid Access
"Seeing Machines, the advanced computer vision technology company that designs AI powered operator monitoring systems to improve transport safety, has published a trading update for the financial year to 30 June 2018. Total revenue was A$30.7m, an increase of 127% YoY from A$13.5m. This was within the range of the previous guidance published on 21 May 2018 of A$30-35m and slightly below our most recent forecast of A$32.3m..."
XP Power (XPP)
Strong demand drives record performance in H1 | Edison, 30 Jul
Free Access
"XP Power reported strong H1 revenue and earnings growth, despite significant currency headwinds. Order intake remained robust, providing good support going into H218. While management’s expectations for FY18 are unchanged, we have revised our forecasts to reflect currency moves and tightness in the supply chain. This results in normalised EPS upgrades of 0.2% in FY18 and 2.4% in FY19. Post the recent acquisitions, we believe the company’s more comprehensive product range positions it well to grow market share further..."
XP Power (XPP)
Power H118 interim results | Edison, 30 Jul
Free Access
"XP Power Earnings Release Presentation..."
Legal & General Group (LGEN)
Too big to control risks | AlphaValue, 31 Jul
Free Access
"The Financial Times revealed in an article that several employees at Legal & General Investment Management (LGIM) have accused the asset manager of a series of compliance and risk failures that potentially cost its clients millions of pounds. The risk culture within the group was qualified as “toxic” and “is reaching crisis levels”. The insurer said that it has taken these issues seriously. In the months since these allegations were first made, it has conducted a full investigation using external advisers..."
Central Asia Metals (CAML)
Cashflow Is King | VSA, 2 Aug
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"Following the acquisition of Lynx Resources’ Sasa mine in Macedonia, Central Asia Metals (CAML LN) is now demonstrating the successful transition to an expanded group with not one but two well managed operations both with low operating cost bases, low capex demands and stable operational track records. We expect this performance to continue resulting in levered free cash flow generation of US$84-99m over the next three years, which underpins a “best in class” dividend yield of 7.5%, based on the stated 30- 50% of free cash flow target payout range..."
Communisis (CMS)
H1’18: organic and strategic progress | Liberum, 2 Aug
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"Communisis has delivered H1’18 results which show 9% revenue growth, an increase in underlying profits and a further reduction in net debt. The Value Enhancement Programme is in its first phase but the early strategic progress is encouraging..."
GetBusy (GETB)
Robust growth despite FX. TP upgraded 50% | Stockdale, 1 Aug
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"GetBusy’s interim results published today show the company has continued to grow strongly, across all its markets, despite the impact of a stronger Sterling. Recurring revenue increased 18% YoY (23% constant currency) to 87% of group revenue (84% in H1 2017). The number of paying users grew to 58.6k. The UK business rebounded strongly, the US business swung to a profit. We have updated our forecasts for GetBusy and upgraded our Target Price to 72p/ share, +50% versus prior level. We reiterate our Buy rating..."
eServGlobal (ESG)
PayMobile on track for cash breakeven | finnCap, 2 Aug
Paid Access
"The Interim update shows the core PayMobile business remains on track for cash breakeven this year. Revenue was c.A$5.7m with a further A$10.2m of new orders in H1 to be recognised in future. This, alongside a reliable H2 pipeline, gives us confidence in our expectation of c.A$19m sales while the cost base has been heavily cut back to match. The funds raised last year have been put to use in restructuring and there will be some exceptionals in H1. That left cash at a low point of A$2.8m, but a large debt was collected in H2 and the position should improve by YE..."
