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Augean (AUG LN) Strong H1 PBT growth; material reduction in net debt | Brewin Dolphin Holdings (BRW LN) Impressive 8% annualised discretionary flows in Q3 | Burford Capital (BUR LN) H1 results – c.15% up on a strong comp – increasing estimates and TP | Earthport (EPO LN) Continued progress with operational changes | EKF Diagnostics (EKF LN) Exclusive agreement with Asahi Kasei expands US products portfolio | IDOX (IDOX LN) Framework in place for improved future performance | Marston’s (MARS LN)
Companies: BRW RAT IDOX VCT EKF EPO MARS BUR
Singer Capital Markets
Eckoh (ECK LN) Another year of strong progress | Victrex (VCT LN) Well on track after record H1
Companies: Victrex plc (VCT:LON)Eckoh plc (ECK:LON)
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Companies: RLWAPCBMSCRPRSNXVCTTCNFA/ECKAFRNBGOCALLTRINFDEVXPSEUSPGETBFDMW7LE3C
Research Tree
Strong start to FY18, record Q1 volumes
Companies: Victrex plc
Victrex has reported record Q1 volumes with a positive performance in the Industrial business offsetting a slightly weaker performance in Medical. Volume strength should not be extrapolated (interestingly the large Consumer Electronics order played a part in the outperformance) but we expect to increase our FY volume forecast somewhat, implying a 4% to 5% EPS upgrade to FY18 (the statement acknowledges some limited scope for outperformance). For FY19, an increasing currency headwind is likely to
Companies: XARZYTMEGPVCTIQEWMHIMMSFRCVSGPURPBURENTPTEC
Curtis Banks Group (CBP LN) Upside from strategic initiatives not yet recognised | ECO Animal Health Group (EAH LN) Marketing authorisation for Aivlosin® in Canada | IDOX (IDOX LN) Year end update and Board change | Microsaic Systems (MSYS LN) New phase of research agreement with global partner in biopharma | Safestyle UK (SFE LN) Tougher trading & further margin pressure drives another 10% d/grade | Zotefoams (ZTF LN) Strategic partnership with Nike
Companies: XAR IDOX VCT ZTF EAH MSYS CBP SFE
At our 3D Printing and Advanced Manufacturing lunch on Monday three companies updated us on the developments and significant opportunities for their business in this exciting new area. We were pleased to welcome speakers from Xaar, Victrex and unlisted group Metalysis. Each company gave a 15-20 minute overview of their existing activities in 3D printing and how they are continuing to develop their offer to capitalise on the strong growth and value creation opportunities ahead. Brief summaries ar
Companies: Xaar plc (XAR:LON)Victrex plc (VCT:LON)
Victrex has announced a material reduction in its effective tax rate as a result of the Patent Box legislation. New guidance is for a tax rate of 12% (from 20% to 21% previously). This implies a consensus EPS upgrade of c.8%+ and a cash benefit will also be felt from 2018. Alongside this announcement, it has been confirmed that new CEO Jakob Sigurdsson has joined as CEO-designate, effective 1st September. Jakob will join the Board on 1st September. Dave Hummel will remain on the Board until the
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Companies: SYNZENCARCRPRSCEMGAMOXIGMEGPVCTSYMIQENANOCKTBOTBBOYIKAITXGRPEFFULBIOMAUTGHDDHAYDEXOSHOECAKEMAB1SCSFEVRRBGG4MJOULVCPBUR94AHCHOFEMHMLM
Whether we know it or not, advanced materials are a core component in the everyday life of the everyday person. They are the key material in items we often disregard, such as printer inks and lotions, to objects which defy the laws of gravity like the Airbus A380 and London’s Shard. Furthermore, these materials are not only essential to many objects and structures, but, due to their superior qualities, are the key to the advancement of many industries. One such example is the use of carbon fibre
Companies: SYN ZEN CAR CRPR SCE MGAM OXIG VCT SYM NANO CKT BOY IKA ITX GRPEF BIOM AUTG AGM HDD HAYD EXO EMH
Hybridan
ECO Animal Health Group (EAH LN) 2017 significantly ahead of expectations | Midatech Pharma (MTPH LN) New take on valuation and direct sales strategy | RhythmOne (RTHM LN) Good results/momentum – delivering on execution | Victrex (VCT LN) Positive H1 underpins FY profit and special dividend expectations
Companies: VCT EAH BDRX RTHM
Positive interims confirm a strong performance from the core business, which saw volume increase by 19%, more than offsetting the anticipated decline in consumer electronics demand. Volume and PBT increased by 5%, both representing 50% of our FY forecast. With further currency benefits to come and a normal H2 weighting, forecast upgrades might have been expected, but ongoing uncertainty over consumer electronics holds back this prospect for now. More positively, the special dividend (50p+ this y
In our second edition of “Trend spotting” we note how in the last three weeks the defensive rotation trend has gathered pace and further evidence has emerged of the “relative fading” in the UK economy. However we now see early signs of the “risk on” trend starting to reassert itself in equity markets and we look at small cap laggards plus European exposure as ways to play this.
Companies: XAR CHH GNS GHH HILS LWB RPS TRI VCT DPH SYNT EKF SPH BOY INS REDD JUP KMK BCA MYSL
Research Tree provides access to ongoing research coverage, media content and regulatory news on Victrex plc. We currently have 0 research reports from 8 professional analysts.
Companies: Gattaca plc
Liberum
Companies: CLA STM GLN FXPO KAV GWMO CEY BHP THX EEE
SP Angel
Companies: Quadrise PLC
Shore Capital
Jersey Electricity (JEL) is intensifying its focus on energy security and electrification across Jersey by creating opportunities to accelerate growth. It successfully navigated the volatile wholesale power price environment in 2020–23, shielding its customer base from the worst inflationary pressures. However, from 2025, as older, more favourable hedges expire, this protection will diminish. Therefore, we have marginally reduced our earnings forecasts to account for the increased exposure to wh
Companies: Jersey Electricity plc Class A
Edison
On 9 January last year, we set out our ten top stock picks for 2023, for what turned out to be another relatively poor twelve months for UK equities due to two wars, stubbornly high inflation and further tightening of monetary policy. This was even as other major markets, such as the US, largely recovered in the year. In the 2023 calendar year, the AIM All-Share index fell 8.2% and is still 42% off its 2021 high. From the release of our 2023 top picks note, the average total return (assuming div
Companies: PTAL GHH IGP MSLH PINE NXQ EQLS NXR AXL
Zeus Capital
Companies: Judges Scientific plc
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