See what's trending this week...
Companies: OPM, SIXH, ABZA, AVO, AGY, APH, ALT, ARBB, AVCT, BNO, BUR, CMH, CLIG, COS, DNL, EVG, GTLY, GDR, INL, KWS, KOOV, MCL, MUR, NSF, OXB, PHTM, PLUS, NIPT, PHP, RE/, RFX, REDX, SCLP, SXX, SCE, TRX, TON, VAL, VLTY, VP/
Re-rating triggers on the horizon | Liberum, 30 May
"Sirius currently trades at a c.70% discount to our £1.10 NPV, a function of marketing risk, financing risk and construction risk. The company is in a strong position to largely eliminate two of these three risks in the next 6 months..."
Unlocking marketing budgets | Edison, 31 May
"Keywords (KWS) has acquired Fire Without Smoke (FWS) for up to £5.2m. FWS is a creative and marketing services provider to the video games industry. This is an incremental opportunity for KWS to work with games producers on marketing projects (eg trailers). At 7.4x trailing adjusted PBT, this was at the lower end of KWS’s recent acquisition range, and further upside via cross-selling synergies with pre-existing studios is likely..."
Positive trading statement, upgrading CY18 forecasts | Liberum, 7 June
"Plus500 has announced in a short trading statement that the Board has materially increased its expectations for the Group’s financial performance for the year ending 31 December 2018..."
A year of significant growth and strategic progress | N+1 Singer, 5 June
"Vp has confirmed another year of excellent progress. Revenue increased by 22% to £303.6m and PBT by 16% to £40.6m, 4% ahead of our forecast. The highlight of the period was the strategic acquisition of Brandon Hire, Vp’s largest to date. The integration is underway, the business is performing in line with expectations and FY19 forecasts are well underpinned..."
Triple digit growth FY17, strong momentum 1Q18 | Whitman Howard, 7 June
"FY17a was another year of strong growth for VLTY, revenue +165% YoY (+12% on FY17e) at €16.2m and EBITDA was +260% YoY, marginally ahead of forecasts at €8.1m. Although cash was below expectations at €0.7m, post the year-end the group reduced receivables significantly and restructured banking relationships, as a result the cash position as at 28 May 2018 improved significantly to €1.6m. Finally, the Board proposed a maiden dividend of 0.25p and intends to adopt a progressive dividend policy..."
Strong FY18 results, FY19 Adj. EPS +4% | Liberum, 7 June
"The FY results were good, showing growth in all business segments. RFX finished the year at 127 stores; increasing by three (four opened, one closed and excl. franchised stores)..."
Prelims on track – proving ChannlPro | finnCap, 5 June
"With prelims delivered in line with expectations, a strengthened board and momentum in the development of the key AI Mastermind (AIM) partnership, Altitude is doing exactly what is needed in proof of execution of the ChannlPro platform. The build-up of active AIM member distributors on AIMPro, the first iteration of the ChannlPro platform, encourages further suppliers, and further AIM membership utilisation of the platform… leading to interest from further suppliers and so on, in a virtuous circle..."
Trading Update | Progressive, 1 June
"Photo-Me has issued a trading update ahead of the publication of full year results in July. The Group expectations for turnover and PBT for FY2018E are in-line with our forecast. The statement does, however, highlight difficulties in trading in Photo ID in Japan which will result in a lowering of our PBT forecast for FY2019E to £44m from £53m. The board has taken steps to resolve the issues and expects the Japanese Photo ID business to return to profitability following the restructuring in FY2019E..."
by Hardman & Co, 4 June
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