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We currently have 24 research reports from 2
Ahead of today’s AGM, Luceco raises guidance due to further share gains in WA & an earlier than expected demand improvement for LED projects from the commercial construction sector. The group expects 1H21 sales of £105m up 43% and a doubling of & adj OP to £18m, 5% above prior forecasts, supported by robust action on cost inflation. We now expect a stronger 2H21 and raise our FY 22 estimates by 8%. Accordingly, we raise our TP to 350p.
Companies: Luceco PLC
Cerillion’s H1’FY21 results are in-line with its earlier trading update, with sales up 26% YoY, adjusted EBITDA up 77% and net cash up 60%. New orders were up 148% to £23.6m, lifting the back order book by 74% to £42.1m. We expect Cerillion’s average order value to continue to rise, reflecting its increasing stature in the industry and proven track record of smoothly executing large contracts. This is expected to lead to an acceleration in revenue and earnings growth. We leave our forecasts unch
Companies: Cerillion Plc
Amino has completed a £9.4m placing at 140p, boosting the strength of the balance sheet in anticipation of acquisitions to deliver the route to the financial targets of “Amino 2025”. The auction for the trade and assets of MobiTV, in Chapter 11 proceedings in the US, resulted in Amino’s selection as the reserve bidder, effective if the successful bidder’s transaction does not complete by 31 May. Amino’s ability to respond quickly to future acquisition opportunities, with balance sheet strength a
Companies: Amino Technologies plc
Nanoco has signed an extension to its development project with a major European customer, under which it is working on a range of materials for a number of sensing applications, which could potentially lead to volume production in calendar H222 (FY23). Importantly, securing this contract gives management the confidence and cash to retain its nanomaterial development and production capability rather than cutting back to focus on the litigation case against Samsung.
Companies: Nanoco Group PLC
Today's news & views, plus announcements from MRW, CPI, UAI, MGP, BGO, JOUL, ANG, THG
Companies: Bango plc
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)
Amino has announced that it has been selected as the reserve bidder in the auction of the trade and certain assets of MobiTV, the US-based TV platform provider. The group has also confirmed a (gross) £9.4m fundraise to fund future acquisitions and that trading since the FY 20A results announcement has continued in line with management’s expectations. We see several positives in this week’s announcement. Although so far unsuccessful, Amino’s involvement in the MobiTV auction process is in our vie
Highlights of FY21 are 43% c/c ARR growth at SwipedOn, routes to market for Space Connect signed and delivering, and significantly reduced burn. Q1 trading looks promising, with SwipedOn ARR 9% since year-end and Space Connect’s pipeline doubling to £1.2m. Looking forward, SMRT’s desk and meeting room booking tools are ideally suited to the emerging hybrid workplace (more employees than desks). We also note initiatives to narrow the price discount with competitors and target customers with more
Companies: Smartspace Software Plc
An in-line update for FY21E means that losses have been contained by management's action on the cost base. Losses are not materially higher than in FY20A and sequential growth shows that revenues are recovering rapidly. With an identifiable pipeline of commercial opportunities, we see capacity for upside risk to financial forecasts to emerge this year.
Companies: Kromek Group Plc
H1 20/21 was good with organic recurring revenue growth of 4.4%. Growth was sustained by software subscriptions (+11%). Sage Business Cloud revenue increased to 65% of the total. The renewal rate by value stabilised (97%) vs Q1 20/21 and H2 19/20 and the churn was in line with pre-COVID-19 levels which are reassuring. The organic operating margin decreased to 20.2% of revenue (-3pts) due to higher spendings in sales & marketing and R&D as expected. 2020/21 guidance is unchanged.
Companies: Sage Group plc
FY20 results were broadly as expected at the January prelims with sales up 2.4%, a 510bp margin expansion to 16.8%, and adj. EPS of 15.5p (7.7p). The revenue outlook is ahead of January expectations; 1H21 was previously expected to increase +25% vs new expectations for +40% due to ongoing share gains. Management announced new through-cycle EBIT margin guidance for 15-20% vs 10-15% previously. We expect FY22 margins to progress towards the upper-end of the new range, with near-term inflation head
1Spatial has delivered FY21 results ahead of our expectations, with plenty of evidence that the turnaround strategy is on track. The business looks well positioned into FY22, with an increasingly busy sales pipeline, record levels of committed revenues and a cloud platform launch later in the year. Management can deliver upgrades as they maintain the Land & Expand approach to customer contracts, whilst a re-rating should come as the company continues to develop repeatable, own IP-based business
Companies: 1Spatial Plc
Mirriad Advertising’s FY20 revenues grew strongly by 91%, in line with forecasts. The EBITDA loss of £8.6m, a 25% reduction, was notably better than consensus forecast loss of £10.2m. This reflects careful husbandry of resource during the pandemic, after restructuring in FY19. FY20 has been well used in building recognition for Mirriad’s technology among platforms, brands and agencies, culminating in the framework agreement signed with a tier 1 entertainment group in Q420. In Q221, the group add
Companies: Mirriad Advertising plc
Reverse Takeover by London Stock Exchange Group (LSEG.L) following the acquisition of Refinitiv in an all share transaction for a total enterprise value of approximately US$27 billion.
Companies: ADME ROCK ZPHR DKL VARE SMRT PTRO MHC BOO
tinyBuild— a leading video games publisher and developer with global operations. tinyBuild's strategic focus is in creating longlasting IP by partnering with video games developers, establishing a stable platform on which to build multi-game and multimedia franchises is to join AIM. Offer details TBC. Due mid-March. AMTE Power, a developer and manufacturer of lithium-ion battery cells for specialist markets, announced its intention to seek admission to trading on AIM. Admission is expected to ta
Companies: ARS ESC AQX ARTL KRS KBT GRP BOOM CNS ANIC