Event in Progress:
Research Tree provides access to ongoing research coverage, media content and regulatory news on CONVALO HEALTH INTERNATIONAL.
We currently have 0 research reports from 0
Interim results showed Primary Health Properties (PHP) to be well on track to meet its fully covered 6.7p DPS target, the 27th consecutive year of growth. Organic rent growth continues to increase, borrowing costs are nearly all fixed/hedged and the cost ratio is among the lowest in the sector. Despite this, the prospective dividend yield is now c 7%.
Companies: Primary Health Properties PLC
Primary Health Properties (PHP) has agreed to acquire Ireland’s first Enhanced Community Care (ECC) facility for a total consideration of €30m. With its interim results, PHP highlighted its continued plans for strategic expansion in Ireland, where higher yields support accretive investment in an expanding market. Alongside low-risk, value-creating asset management schemes and accelerating organic rental growth, this represents a key opportunity for continuing growth in income. Our forecasts are
In its Q323 trading update, Secure Trust Bank (STB) posted 1.7% q o q growth in net lending alongside 2.6% growth in its deposits. This was despite a 7% fall in new business lending from an elevated Q223 comparable as consumer spending weakened. More importantly, STB also hosted a capital markets day (CMD), where management reiterated the medium-term 14–16% return on average equity (RoAE) target and presented on the V12 Retail Finance business in detail. The RoAE should be supported by an improv
Companies: Secure Trust Bank Plc
30th October 2023
Status of this Note and Disclaimer
This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment obje
Companies: ARS TGIF CLBS SDG SOLI NTBR PHE SPEC INSG BCOW AEE
The investment case pivots on the progress of strategic options under consideration for the two operating businesses. Specifically, these relate to the outcome of discussions with potential buyers for each entity, a process which has been simplified by their legal separation. We see potential scope to realise a net return above R&Q’s current market value.
Initial discussions focus on Accredited, R&Q’s program management business for which it confirms receipt of interest from a number of parties
Companies: ONEM RQIH ONEM
We take a positive view of Legal & General’s FY 22 results. Despite the tough environment, the Group managed to outperform expectations – something which was hardly a given for such a large asset manager. With L&G being widely exposed to the UK economy, it might be a call one does not want to make but the firm’s business remains one of spreads – as long as a default does not occur. We remain positive but concede that L&G embeds more risk than we had assumed.
Companies: Legal & General Group Plc
Despite the tough environment, Legal & General is capitalizing on the need for companies to transfer pension liabilities. The group has exceeded expectations in its larger segments: LGRI and LGC, but has encountered challenges within the Retail and LGIM business. This outcome can be attributed to the uncertain outlook in the UK, which bolsters the company’s performance in its core business but negatively impacts other areas.
Having played a supporting role in the initial phase of the stock market recovery – breaking historical precedent in the process – the share prices of financial stocks, and banks in particular, have come back sharply since November. Demand for its shares meant that Polar Capital Global Financials Trust’s (PCFT’s) premium rating was recently at its highest level in more than five years, paving the way for share issuances. Banks were well-capitalised going into the pandemic, so the much-milder-tha
Companies: Polar Capital Global Financials Trust Plc GBP
Please find below our weekly update covering themes that we feel that are of interest to investors and participants in the small and mid-cap TMT sector as well as commentary on recent newsflow.
Companies: CLCO TERN MWE
At a 62% discount to interim NAV, the shares take a pessimistic view of the outlook, that we believe overstates the valuation risks and operational challenges First Property Group (FPO.L faces. The outlook for Poland, its key market, is good and improving and it reports solid demand for vacant space it owns directly in two strategically located office buildings in Warsaw and Gdynia. When let, this should add c. €2m to the rent roll and generate a commensurate uplift in asset values. There is al
Companies: First Property Group plc
Personal Group released a half-year update showing continued momentum, with revenue up 34% and EBITDA increasing by 75%. Given the growth in recurring revenues and associated visibility this provides, the Board remains confident that trading is in-line with market expectations. Overall, this is a solid update and a continuation of the growth momentum seen in the second half of last year. On a FY23E PE of 12x, we continue to believe the market is underestimating the relevance of the group's offer
Companies: Personal Group Holdings Plc
Personal Group’s interims show strong growth momentum, with revenue up by 34% and EBITDA increasing by 75%. Given strong new insurance sales have continued at the start of H2 and retention levels have remained robust, the group is confident in meeting full-year expectations. The balance sheet remains strong (H1 net cash of £22.6m) and confidence in the outlook is reflected in the 10% increase to the interim dividend. Overall, this is an encouraging set of results and underlines the resilience of