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Companies: AIR, AVG, BGO, BKS, FDEV, IDP, KWS, LGT, XLM, ZOO
Beeks Financial Cloud (BKS)
"Beeks Financial Cloud announced interim results for the period 31 December 2018 showing revenue up 36% to £3.5m and gross profit up 43% to £1.7m, with gross margin up to 49%. Beeks enjoys high levels of subscription based revenues, with annualised committed monthly recurring revenue up 26% to £7.5m. Institutional client revenues are around 90% of the total with around 99% of revenues of a recurring nature..."
"By focusing on Publishing activities and reducing exposure to its Media interests, the announced strategic update should deliver a higher quality business. Investment in Publishing assets will continue and there will be a focus on growth opportunities in the US market. The progressive dividend policy is maintained including a pay-out ratio of 50%+ of net profits..."
Air Partner (AIR)
"The FY pre-close update flagged management guidance for January 2019E underlying PBT of not less than £5.8m, which is below consensus (£6.1m) and our forecast (£6.2m). Underlying trading has been broadly encouraging, with strong performances in Commercial Jets, Freight and the US..."
"This note summarises the information delivered at Bango’s Jan-19 Strategy Day and analyses the key messages. In particular, we look at the group’s updated strategy, with its increasing focus on the data opportunity and the new Bango Marketplace product. The core payments business continues to grow strongly and, in our view, the increased focus on data is both strategically sensible and represents a material growth opportunity..."
Frontier Developments (FDEV)
"Frontier Developments’ strategy is to grow a portfolio of game franchises by launching, and then supporting, each game. Its interims showed a record set of results on the back of the very successful JWE launch and encouraging player engagement from the other two franchises..."
Zoo Digital Group (ZOO)
"A confluence of factors is pressuring Apple to shift its long-standing focus on hardware to a mix of software and services to drive the next leg of its growth. We believe the group’s media strategy (so far successful in music but unproven in video) will become a core focus and ultimately, heavily dependent on the success of creating original content. Despite spending US$1bn on video content in 2017, Apples commitment thus far to TV and Film has been negligible in comparison to other OTT competitors..."
"InnovaDerma (LON:IDP) reported results on 21 February for the first half of the full year (FY) to June 2019. Results were in line with January's trading statement, with first half (H1) revenues down 7.5% driven by disruptions to the direct-to-consumer (DTC) sales channel. The company has indicated..."
Keywords Studios (KWS)
"Keywords’ recent trading update indicated that the company continues to perform robustly despite industry turbulence. The acquisition of GetSocial, a cloud marketing services platform, for an undisclosed sum highlights the potential for Keywords’ M&A strategy to benefit from the weaker funding environment..."
"Interim results show a good profit improvement and confirm that trading is on track to be in line with full-year forecasts. The period has seen good organic growth of 11%, with a strong increase in aftermarket revenues and a pick-up in 3M3 nuclear container production for Sellafield. With trading on track for full-year expectations, we make minimal changes to forecasts, and reaffirm our 272p price target, which points to strong upside to current levels and with some exciting prospects over the next two years..."
Lighthouse Group (LGT)
"A robust full year announcement in line with expectations, while strategic opportunities suggest revenue growth of 4.1% and 4.7% across 2019E and 2020E with EBITDA estimated to grow 6% to £3.6m in 2019E and 8% to £3.9m in 2020E..."