Research Tree provides access to ongoing research coverage, media content and regulatory news on Coface SA.
We currently have 18 research reports from 2
Agronomics is an investment company, making selective investments in early-stage alternative protein companies. We believe the combination of the conservative approach to calculating a reported net asset value (NAV) and growing interest in the broader alternative protein and cultured meat opportunities has resulted in Agronomics' shares trading at a c320% premium to its latest reported NAV per share value. Our analysis suggests that not only can this premium be justified but that upside exists b
Companies: Agronomics Limited
NextEnergy Solar’s NAV reflects a reduction in long term pricing offset by continued operating outperformance. While long term pricing remains an issue across the renewable yieldco sector, we continue to see NESF as better placed thanks to its non-amortising debt. It is also showing that its energy sales relationship with NextEnergy Capital is delivering strong hedging positions which should benefit the company going forward. On top of this the company has a range of opportunities to develop and
Companies: Nextenergy Solar Fund
NextEnergy Solar Fund’s (NESF) NAV has declined to 98.9p, as at 31 March 2021, from 100.7p as at 31 December 2020, after incorporating a further reduction in power price forecasts provided by NESF’s three independent consultants (-2.1p per share) and an expected rise in the UK corporation tax rate rising to 25% from 2023 (-1.8p per share). These were partly offset by NESF’s operating outperformance, the acquisition of the 100MW Camden portfolio which was financed by a drawdown on the existing cr
Gore Street continues to develop its portfolio with the acquisition of a 80MW project in the GB market and a 300MW expansion of its exclusive development pipeline. Extended revenue opportunity in Ireland and well optimised assets in the UK give us confidence that the company can maximise value from this larger portfolio.
Companies: Gore Street Energy Storage Fund PLC
In addition to successfully executing a high volume of transactions for clients in the first half, Numis continues to plan investment to strengthen and broaden its capabilities to support longer-term growth through market cycles. With over 60% of transaction fee income in H120 coming from outside the retained client base there is evidence that the company is succeeding in building a wider reputation.
Companies: Numis Corporation Plc
Today's news & views, plus announcements from CPG, DGE, FLTR, MSLH, PHP, TUI, UDG, ULE, RQIH, VTU
Companies: Primary Health Properties PLC (PHP:LON)Randall & Quilter Investment Holdings Ltd. (RQIH:LON)
Today's news & views, plus announcements from LAND, VOD, PHNX, BNZL, FOUR, BVIC, AGR, EBOX, AQX, WJG, BGO, HDD
Companies: Bango plc (BGO:LON)Land Securities Group PLC (LAND:LON)
The key messages we take from RECI’s April’s quarterly investor updateand end-March 2021 factsheet are i) mark-to-market (MTM) writedowns in March 2020 proved overly conservative, and RECI has been making recoveries since, ii) with no defaults, RECI’s assets have proved highly resilient (this is no accident, but reflects the different way in which the assets are managed to other lenders, and iii) as expected, RECI’s bond portfolio provided significant liquidity at only a modest cost. Despite the
Companies: Real Estate Credit Investments
Brewin Dolphin’s strategy to broaden its range of propositions and distribution channels to reach wider demographics has resulted in the delivery of a strong performance in 1H21. Adj. PBT of £47.0m was up 29% YoY driven by strong income growth and ongoing cost savings, leading to Adj. PBT margin of 23.5% (1H20:20.8%). The interim DPS is also up by 5% to 4.6p.Total discretionary fund inflows hit a record of £1.0bn in 2Q21 helped by the recent launch of Voyager funds while strong retention rates o
Companies: Brewin Dolphin Holdings PLC
We initiate coverage of Parsley Box with a 220p share price target, implying 14% potential upside. Parsley Box is a small, dynamic, fast-growing company that delivers quality ambient ready meals direct to its customers, targeting the growing number of older and wealthy people in the UK. We expect Parsley Box to break into EBITDA profit and be cash-generative in 2022 and to grow rapidly thereafter. We would expect the valuation discount will narrow as it continues to deliver.
Companies: Parsley Box Group PLC
Primary Health Properties (PHP) has issued a trading update covering the three months to 31 March 2021 (Q121). The existing portfolio continues to perform well, as expected, and while acquisition activity has been light amid a highly competitive investment market, progress continues with rent reviews and asset management projects, forward-funded developments and the recently acquired direct development pipeline.
Companies: Primary Health Properties PLC
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)
Full-year results to 31 December 2020 show the value of recurring revenues amid the global pandemic, bolstered by technology investment permitting improved operational efficiency. The flexible annuity pipeline remains significant, though the pandemic has caused slow conversion of leads. A UK-focussed acquisition pipeline continues to form a key part of the investment thesis and a post-period exit from the trusts sector has freed up capital to allow the company to pursue this strategy with the re
Companies: STM Group PLC
Secure Trust Bank (STB) announced in its Q120 trading update that new business lending rose 7.1% year-on-year and 2.4% quarter-on-quarter to £318.5m. Loan balances declined by 6.6% and 1.0% respectively, with lending still affected by the COVID pandemic lockdown. The loan balances of the Business Finance and Consumer Finance divisions were ‘static’, but the run-off of the closed Asset Finance and Consumer Mortgage books led to the 1% decline. Management viewed credit performance as ‘benign’. STB
Companies: Secure Trust Bank Plc
Ocean is the leading digital player in European Out of Home media. The portfolio spans multiple European markets and is centred on a UK core and management team, both with a proven track record of delivering growth and innovation. Out of Home media has been outperforming other traditional media for the best part of the last decade as the adoption of new technologies and data has transformed its commercial impact for brands. The structural drivers behind this growth have not gone away. The FY20 r
Companies: Ocean Outdoor Ltd.