See what's trending this week...
Companies: AFX, APC, BMS, BUR, COS, DMTR, ECSC, ESC, EUSP, FDM, GETB, GYG, HAT, CRPR, PCF, PHTM, PMI, RUA, SNX, TLY, TCN, W7L
Update on Petersen - Justiciable in US Federal Courts | Liberum, 11 Jul
"In a statement this morning Burford has announced that the US Second Circuit Court of Appeals affirmed the trial court decision finding the Petersen claims against Argentina and YPF to be justiciable in the United States federal courts. They also announced that due to Eton Park being dissolved they have bought the Eton Park equity stake in the YPF litigation case, however, they have sold part of the stake to leave cash exposure unchanged..."
Aortech | APC Technology | Braemar Shipping | James Cropper | Deepmatter | ECSC | Escape Hunt | EU Supply | FDM | GetBusy | Private & Commercial Finance | Synectics | Tricorn | Warpaint
AIM Market – A game of two halves? | Stockdale, 10 Jul
"In January, we highlighted the progress that AIM had made in H2 2017. We now review the performance in H1 2018. The latest AIM Statistics published on Friday showed that there are currently 944 companies, with 38 new issues so far in 2018, raising £781m and secondary issues raising a further £2.4bn. However, with 51 companies cancelling their listing there was a net fall in H1 2018 of 13 companies. That said, new listings appear to have accelerated recently. In Share News & Views, we comment on Braemar*, Cohort, Cropper*, GetBusy*, IG Design, Lakehouse* Porvair and Wynnstay Group..."
Investing for the long term | finnCap, 10 Jul
"FY 2018 results are in line with the recent trading statement except for a lower tax charge. Sales are up +5.9% at constant currency driven by rapid expansion in Laundry and growth in Kiosks. EBITDA is up a slightly more subdued +2.8% as Japan dragged. As promised, the dividend has been raised by +20% and net cash was £26.7m. Laundry now accounts for 16% of group sales (up from 10%) and is expected to continue to grow in importance..."
Strong H1'18 revenue growth | Liberum, 11 Jul
"The H1'18 trading update highlights further strong market share gains for AFX with revenues up c50%. We have increased our revenue forecasts and maintain our profit estimates reflecting a number of investments which will position the company to scale significantly over the next few years..."
Strong progress | Cenkos, 10 July
"Totally has reported results to 31 March 2018, a year in which it made the transformational acquisition of Vocare. Underlying, we believe the 15-month period was largely in-line with our expectations, though are affected by the unusual reporting period and significant exceptional write back. Separately the group has invested heavily in its quality systems and processes which is reflected in the improvement in its CQC ratings..."
Great Progress, Great Prospects | Capital Access, 11 Jul
"Having completed the transformational Vocare acquisition and added to its already well experienced management team, Totally is now tasked with grasping a very significant opportunity within UK healthcare. The NHS' direction of travel has been to address the impact of non-acute presentation at its hospitals..."
Trading update | Zeus Capital, 12 Jul
"We note the trading update released this morning from GYG, confirming that trading has been difficult in the first half of the year and the full year outturn is likely to be materially behind current expectations. We update our forecasts to reflect this new guidance. We now expect EBITDA in 2018E of €4.5m (€9.9m previously) growing to €7.2m in 2019E (€8.2m previously)..."
Defensive growth investment | Capital Network, 9 Jul
"H&T Group PLC (LON:HAT) is the UK market leader in pawnbroking, with a chain of 182 high street stores across the county, offering consumers secured credit against items such as gold, watches, and jewellery. In addition to the core pawnbroking activity and related jewellery and watch retailing, H&T Group offers a range of other financial services, detailed in this report..."
Positive leading indicators | Cenkos, 10 Jul
"As indicated in its recent trading statement Collagen Solutions revenues for FY18A were below FY17A. While this is clearly a disappointing result we believe it masks a number of positive underlying trends which point to an improving performance in future years..."
Strong H1 net inflows, upgrading FY18e EPS by 11% | N+1 Singer, 10 Jul
"Miton has reported exceptionally strong H1 net inflows (£616m). This is impressive given weaker flows across UK equity funds. Positive investment performance totalled +2.6% (on opening FuM) against the backdrop of a relatively flat UK equity market. Updating our model for the FuM outturn, but leaving all other assumptions unchanged for H2, we upgrade EPS by 11% in FY18e and by 15-17% in outer years..."