See what's trending this week...
Companies: APC, BONH, DEBS, BMS, CAML, CTG, CALL, K6YA, 2FX, EUSP, FDM, FA/, GETB, CRPR, RLW, PMI, RTHM, RUA, SDI, SORT, SNX, TCN, W7L, XLM, XPF, ZOO
XLMedia (XLM)
Resilient H1 | Cenkos, 24 Sep
Paid Access
"A confluence of regulatory changes and malicious activity negatively impacted H1A but the impact of these on XLM's markets is beginning to unwind. Meanwhile, the company is successfully diversifying its economic interests into other growth markets. The sell-off in stock price is disproportionate to the financial impact of these temporal changes..."
Boohoo.Com (BOO)
H1 growth of 50%, guidance raised | Zeus Capital, 26 Sep
Paid Access
"Boohoo has announced another robust performance for the six months ended 31 August 2018, delivering impressive growth with profitability in line with guidance. Revenue of £395.3m is +50.4% YOY with the group achieving market share gains across its key focus territories and brands; boohoo (+14.9%), PrettyLittleThing (+132.0%) and Nasty Gal (+111.4%). The impressive top line growth delivered in the period combined with the group’s operational leverage and the benefit of its multi-brand model is reflected in the solid 200bps uplift in group gross margin to 55.3%..."
Miton Group (MGR)
Initiation - Hard work pays off - inflection reached | Liberum, 24 Sep
Paid Access
"Miton Group is a small fund management company with everything optimised - right people, right funds, right systems. It offers top performing, high active share funds at the right price, and as a result it is gathering assets at pace..."
Zoo Digital Group (ZOO)
Market & Company dynamics remain robust | Progressive, 27 Sep
Free Access
"ZOO digital released its AGM statement today highlighting continued positive momentum within the Group. The Group expects to meet FY2019E expectations driven by the increasing success of its cloudbased dubbing service, its expanded service offering, world-wide operational capabilities and robust global market demand for localisation services. We leave our estimates unchanged ahead of seeing the detail of the interim results due on the 6th November..."
Cloudcall Group (CALL)
Strongly undervalued | Cenkos, 24 Sep
Paid Access
"Vonage has announced that it is acquiring one of CloudCall's key competitors, NewVoiceMedia. This acquisition provides strongly favourable read-across valuation data. The CloudCall share price has now reached a level which is disconnected with anything approaching fair value. We are strong Buyers..."
FairFX Group (FFX)
Strong growth, tiny PEGs | Cenkos, 26 Sep
Paid Access
"Despite the Brexit headwinds, FairFX Group nearly doubled its revenues YoY (from £6.1m in H1/17 to £12.0m in H1/18) and adjusted EBITDA leapt from £0.2m to £2.7m as banking and forex expansions and operating efficiency improvements all kicked in. Management is confident in meeting market expectations for the full-year..."
Aortech | APC Technology | Bonhill | Braemar Shipping | Christie Group | James Cropper | Deepmatter | Escape Hunt | EU Supply | FDM | Fireangel | GetBusy | Location Sciences | Private & Commercial Finance | Synectics | Tricorn | Warpaint London
Volatility returns but M&A activity continues | Stockdale, 25 Sep
Paid Access
"We have seen an unwelcome return of volatility over the last month. This has resulted in market weakness as shown in the table below. The main factors have been the ratcheting up of trade tariffs and the increasing uncertainty regarding Brexit. The political party conference season is likely to generate further uncertainty. That said, M&A activity continues apace. The reporting season continues, almost in the background with the occasional surprise..."
Central Asia Metals (CAML)
Strong Interim Results | VSA, 24 Sep
Paid Access
"Central Asia Metals (CAML LN) announced strong H1 2018 results in the first full period reflecting the contribution from Sasa. Revenue was up 160% YoY to US$96.6m primarily driven by the acquisition as well as an 18% YoY increase in realised copper prices. EBITDA of US$64.6m was up 166% YoY as costs at Kounrad were in line with expectations and Sasa unit costs were held flat. With no significant non-cash charges net income of US$28.5m reflected the benefit of the acquisition also, up 88% YoY..."
Rhythmone (RTHM)
Positive Trading Update and new CFO | Whitman Howard, 25 Sep
Paid Access
"Today R1 has announced a positive trading update and the continued restructuring of the business with CFO Ed Reginelli resigning and being replaced by Mark Zorko. This is consistent with continued execution of R1 financial plan focused on accelerating growth and profitability. We retain our Buy and 770p price target..."
Scientific Digital Imaging (SDI)
Acquisition – 7% accretive in first full year | finnCap, 25 Sep
Paid Access
"SDI is acquiring Fistreem International, a manufacturer and supplier of water purification systems (stills, deionisers) and vacuum ovens for use in the life science and industrial sectors. Considered a bolt-on acquisition, it is complementary to other SDI businesses such as ATC and Sentek, with opportunities for cross-selling as well as organic growth. SDI is paying £756k for the business, representing prospective proforma FY 2019 EV/Sales and EV/EBIT of 1.2x and 4.4x, respectively..."
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