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Pelatro's trading statement shows that a stronger USD in 2022E, combined with delays in certain projects, will impact current year revenue and profitability. An increase in the Group's exposure to the Indian Rupee (INR), due to major Indian contracts being priced in local currency, has led to a lower USD revenue, as the INR weakened by over 8% YTD versus the USD. The company expects the FX headwinds combined with certain mainly change request revenue, to reduce Group revenue by $0.7m to $0.8m in
Companies: Pelatro Plc
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Companies: Cerillion Plc
FY22 results are comfortably in line with October’s update, as CER delivered +26% y/y sales growth to £32.7m (PY: +25%) whilst maintaining its class-leading PBT margins at 35%, such that u/l PBT grew +28% to £11.6m. This translated to £9.9m FCF, after 100% cash conversion. Somewhat bizarrely the most interesting data point in all these stellar numbers is that CER materially beat consensus notwithstanding an unusual £1.8m bad-debt provision (i.e. without, CER would have beaten estimates by even m
Singer Capital Markets
Cambridge Cognition yesterday announced its expansion into China, the World's second largest clinical trial market. The Chinese foray is through a strategic partnership with Shanghai based Luca Healthcare, a leading player in digital screening, treatment, and management tools.
Companies: Cambridge Cognition Holdings Plc
Dish of the day
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What’s cooking in the IPO kitchen?**
Kistos Holdings plc, intends to join AIM. The Company was incorporated to act as a new holding company for the group companies 0f Kistos plc (KIST), a holding company with the objective of creating value for its investors through the acquisition and management of companies or businesses in the energy sector. Anticipated Market Cap £327m. Expected 22 Dec 2022.
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Dish of the day
BWP REIT joins the Wholesale Segment of the International Property Securities Exchange (IPSX). BWP REIT is a newly formed single asset company and has raised £35m by issuing 35m new ordinary shares at 100 pence per share to acquire Bridgewater Place, an office-led mixed use property in central Leeds and valued at £63m. The property is one of the tallest buildings in Yorkshire, comprising 234,000 sq. ft of office space, and is close to 90% let to EY, as well as multinatio
Companies: RNO BEM BOIL DOTD NTQ KMK PMG EYE EVG ENET
Companies: RNO DOTD NTQ KMK PMG EVG
Gresham announces contract wins today that cause it to expect FY22 revenues and earnings to be ahead of expectations. The first is a £1m over 5 years Clareti deal to replace a legacy incumbent solution for one of Europe’s largest privately owned banking and financial services groups (new logo). The second comprises renewals and extensions across a broad array of products and services with Gresham's largest customer, ANZ. Furthermore, management expects to close further subscription business in Q
Companies: Gresham Technologies plc
TPXimpact has announced interims that are reassuring following the September AGM and confirmed guidance for FY23 and 2024.
Companies: TPXimpact Holdings PLC
Companies: SOU TRX CCS AREC
Altitude has released H1 results for the period to 30 September 2022 showing a robust expansion of its Services and Merchanting programmes. The Group has grown its global AIM Smarter membership, increased average revenue per member, and expanded Merchanting by recruiting more high-quality sales affiliates. Last week’s revenue and profit upgrades highlight strong ongoing momentum from Altitude. We continue to believe the Group is well placed for accelerated future revenue growth, with operational
Companies: Altitude Group plc
The interim accounts bear an unrealised FX charge which has led us to review our forecasts. This liability is now largely hedged and the recent strengthening of GBP/USD has reversed some of this loss. Net cash is lower due to the payment profile associated with a material contract won last year but this will unwind over the next two years. We see these items are speed humps and do not change our valuation of the stock.
Companies: Shearwater Group plc
Intercede has reported 1H23 interims to September in line with the October trading update, showing 25% revenue growth (24% accounting for rounding) and EBITDA performance in line with expectations. With management’s approach to investing within existing means, we cautiously upgrade FY23 revenue (+£0.2m), but costs increase in line with revenue, leaving EBITDA unchanged. The very strong period represents Intercede’s second-best six months ever, delivered largely from existing customer orders and
Companies: Intercede Group plc
Tribal has announced that the implementation and delivery of its contract with NTU has continued to be more complicated and more costly to deliver, meaning this will be an onerous contract to the tune of £12m. This compares to what could have been £7m GP, so a £19m delta in economic value or FCF over the initial contract term. How this translates to numbers – FY22e & FY23e revenue is unchanged, GP reduces (to reflect higher costs) by £-4m in FY22 and £-9m in FY23 and u/l cash opex stays the same
Companies: Tribal Group plc