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Strong management progress on Reach’s Customer Value Strategy continues, although underlying progress has been obscured by elements beyond management’s control. Sales were broadly stable (-2% y/y to £297.4m; SCMe: £299.3m), as Digital revenues continued to grow (+5% y/y) despite a severe deterioration in wider market OMP yields (down up to 40% at peak). Inflationary headwinds in Print have also persisted, with aggregate opex up +7% y/y to £241.7m (SCMe: £237.3m) - AOP consequently fell 32% y/y t
Companies: Reach plc
Singer Capital Markets
In a challenging environment, Tremor has reported net revenue of $70.8m, a record Q2 22 adjusted EBITDA of $39.1m at an industry-leading margin of 55%, and net cash of $361m including $45m of buyback. The current macro conditions, and Tremor’s focus on scaling higher-margin self-serve and PMP revenue, have led to Q2 22 net revenue c8% light of consensus of $76.8m. Adjusted EBITDA is only c2% light of consensus of $39.8m, as management has focused on effectively controlling the cost base while in
Companies: Tremor International Ltd.
Revenues in H1/22E are substantially ahead of our expectations. Growth in XLMedia's sports betting revenues has more than offset weakness elsewhere in the Group. With sports betting now such a high proportion of total activities and margins moving upwards, this should begin to ameliorate any lingering concerns about Casino being a potential drag on earnings.
Companies: XLMedia Plc
FOUR has posted extremely strong H1 results today, a powerful performance by any standards. Key is (1) significant demand increases, (2) pricing leadership, but (3), most important, a stunning lift in the revenue per marketing dollar. This last is the result of this innovative company reworking its already very successful marketing model, equipped with an intelligent data analytics platform, in a new direction which has generated significantefficiencies in the crucial marketing process, result
Companies: 4imprint Group plc
Companies: SAVE SPE TRMR
Companies: Argo Blockchain Plc (ARB:LON)Tremor International Ltd. (TRMR:LON)
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Unigel Group, intends to join the Aquis Growth Market. Unigel Group is a pioneer in the field of thixotropic gels for the fibre optic cable industry. The Company is also a supplier of laminated steel tapes to the fibre optic cable industry in the US. Thixotropic gels and laminated steel tapes are essential components to the rapidly growing global fibre optic cable market. The Group exports
Companies: EMR IRON JWNG MRK MJH
Mirriad’s interim results confirm the trading update published in July, which indicated the impact of the withdrawal from China, and we make no further changes to our forecasts. There is good progress in the North American market, with US revenues 72% of the group total in H122. It is success here that will determine future growth and moves toward profitability. We regard the contract signed with Magnite at the end of May as a key milestone towards establishing the group’s in-content proposition
Companies: Mirriad Advertising plc
YouGov’s year-end trading update (to end-July) indicates results in line with management expectations, with underlying growth across all segments and a ‘modest’ step up in operating margin. Our FY22 forecasts are therefore unchanged, as are those for FY23. We now also publish our first thoughts on FY24, showing continuing progress on revenue and margin as the increased productisation drives efficiencies. YouGov’s share price performance year-to-date has been affected by the rotation away from an
Companies: YouGov plc
A year on from the end of lockdown on July 19 2021, celebrations at the UK's economic bounce-back in H2-21 have long lost their fizz. Two intertwined themes have remained salient / gathered pace over the past six months since our mid-year sector review: exchange rates and inflation. As we write today, press speculation is focussing on the possibility of a 0.5% rise in UK interest rates in August, billed as the biggest move in 27 years. Looking further afield, economists are looking to the F
Companies: FOUR JIM JIM CODE PEN PTD WATR SPSY
Companies: BOOM NTQ TRMR TRI ARC
Adj EBITDA will be around 20% higher than forecast in FY21E. This is a decent 'beat' and we attribute it to a rise in underlying operating margins from the transformation programme and favourable business mix from US sports. Not all the benefits from the transformation programme are yet visible in earnings but they are already compensating for much of the weakness possible in Casino in FY22E.