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CAP-XX is a world leading developer and retailer of supercapacitors, an important electrical energy storage technology, that delivers high power densities not possible with batteries. The company, its technology and strong IP position are well proven with more than 62 million CAP-XX supercapacitors sold to-date by CAP-XX and its four licensees. As well as reaching EBITDA positive on an underlying basis for its H1/FY21, it has recently concluded a transformational deal which has seen it acquire t
Companies: CAP-XX Limited
boohoo Group has announced results for the 12 months ended 28 February 2021, reporting a strong finish to the year, with performance ahead of ZC’s forecasts, driven by strong momentum in both the UK and USA in the final months of the year. Profit generation has been robust, despite significant cost headwinds resulting from COVID and the impact of a number of dilutive acquisitions made over the year. The shares have traded sideways in recent months, despite the Group’s continued strong trading pe
Companies: boohoo group Plc
SiS has extended its partnership with the British professional cycling team, serving as a reminder of the group’s market-leading brand, product and innovation agenda, which continues to fuel an exciting pipeline of new products. Management has a clear strategic plan to more than double sales over the next 4-5 years, delivering a double-digit EBITDA margin and 50%+ EBITDA CAGR. With a strong balance sheet, now self-funding, and increasing momentum, we raise our TP to 100p (from 80p), noting that
Companies: Science In Sport Plc
Trading momentum has remained very strong since the group last reported in January, with own Ecomm sales +50% y/y, stores trading ahead of FY19’s levels since re-opening and Friends of Joules and Garden Trading both growing strongly. This drives material PBT upgrades of c.35%-60% over our forecast horizon reflecting the higher sales base and the increasing leverage benefits from the group’s well-invested infrastructure and strong drop through as Friends of Joules and Garden Trading scale. We rai
Companies: Joules Group Plc
Tern plc* (TERN.L, 14.9p/£49m) Portfolio update: Good commercial progress on multiple fronts (04.05.21) | CAP-XX Ltd* (CPX.L, 8.7p/£38.5m) Contract win: Windscreen damage detection application (04.05.21) | Mirada plc* (MIRA.L, 82.5p/£7.3m) FY pre-close: In line and growth in H2 (05.05.21)
Companies: TERN CPX MIRA
Whilst today’s interims reflect the ongoing impact of the pandemic, order intake has been on an improving trend since January, prompting a full year revenue upgrade (from £8m to £10m) within this note. The cost base has been well managed and the Group is well placed to return to profitability as trading patterns normalise post COVID. Following the Tender Offer towards the end of the period, the net cash balance remains a strong £7.8m.
Companies: Zytronic plc
As hinted at in the brief trading update on 20th January, Galliford Try has coped well with COVID restrictions and has delivered a return to profitability, a return of the dividend (1.2p interim), and an improved cash profile. This hasn't come easily, and is the result of a root and branch overhaul of risk processes, the costs base, and internal monitoring and attitudes. In this period it has also been helped by supportive end markets.
Companies: Galliford Try Holdings PLC
The UK market showed a continued recovery in the first quarter albeit the indices are still well short of their all-time peaks, unlike many of their international peers. The FTSE 100 has risen by 1,186 points (21.4%) since the end of October and the FTSE 250 by 4,304 points (25.0%). The comparable performance since the start of the year is less spectacular- the FTSE 100 has risen by 253 points (3.9%) and the FTSE 250 has risen by 1,070 points (5.0%). The factors behind the sustained rally are fa
Companies: AMYT ARBB BPC BAG BVC BEG BONH BLVN BRSD CML CWK CRPR EYE ECHO FDM FAR FA/ GPH GSF HUW INSE JDG KAPE KP2 MACF MPAC MNZS NESF NBI OTMP OBD PREM QFI RUA SCS SEN SOS SUR TON TOU TXP TGL TCN UEM VLS WYN
Burberry has released its FY 20/21 figures (ended in March), above consensus and our expectations.
The rapid full-price sales rebound and margin progression in the second half of FY20/21 have confirmed the improved attractiveness of the brand; in particular, the strong demand in China, Korea and the US has continued to be the firepower.
However, the updated cautious guidance is indicating some weakness in terms of profitability for the near term.
Companies: Burberry Group plc
US & German manufacturing PMI hits lowest readings since 2009, UK manufacturing PMI heads below 50, BorgWarner expects material financial impact from customer production halts
Companies: AVON CGS HAYD HEAD HILS JHD RNO SCPA TWD TRI ZTF SOM GHH
VW closed a solid Q1, comfortably outperforming market expectations on the back of strong sales in China and a product mix pulled by the higher-end, lifting margins to pre-pandemic levels. The EV offensive continues to gain speed with the group already earning the top spot on European BEV sales. Although the current semiconductor shortage casts a shadow on the Q2 performance, the upgraded margin guidance is a sign of a brighter FY outlook.
Companies: Volkswagen AG Pref
Today's news & views, plus announcements from SGE, CRST, AVAP, WRKS, ASTO,ETX, MBOX
Companies: Avation PLC (AVAP:LON)Crest Nicholson Holdings Plc (CRST:LON)
MAST Energy Developments (MED) is to IPO on the Standard List on 14th April 2021 under the ticker MAST. The company has raised £5m giving a market capitalisation on listing of c. £23m. MED is currently a 100% subsidiary company of AIM quoted, Kibo Energy*. MED was established to acquire and develop a portfolio of flexible power plants in the UK and become a multi-asset operator in the rapidly growing Reserve Power market. PensionBee has confirmed its intention to float on the High Growth Se
Companies: SYM CGNR EKF KBT GGP VLS TMO ECK B90 MDZ
Today's news & views, plus announcements from NXT, QLT, HBR, GFRD, EQN, RQIH, BREE, DXRX
Companies: GFRD HBR RQIH
Residential for rent developer and manager Watkin Jones has signalled “maintained momentum” during H1 in today’s trading statement, which showed new forward sales and further additions to the development pipeline, highlighting the continuing demand from institutional investors for build-to-rent (BTR) and purpose-built student accommodation (PBSA) assets. Fresh property management sales were resilient, despite disruption in higher education, while the reconfigured residential unit delivered robus
Companies: Watkin Jones Plc