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Thermo Fisher Scientific had a strong start to 2022, with its core business performing well. The results showed strength across its clinical research business PPD, where integration is running smoothly and the company saw a revenue growth of around 19%. Thermo Fisher was able to gain market share and deliver a strong execution. Biotech and pharma had an outstanding performance which delivered growth in the mid-teens. Thermo Fisher had grown in mid-single digits in government and academics with g
Companies: Thermo Fisher Scientific (TMO:NYSE)Thermo Fisher Scientific Inc. (TMO:NYS)
Thermo Fisher has had an excellent growth strategy driven by a combination of organic and inorganic growth, powered by their PPI business system. The company achieved 17% organic growth for 2021, with 14% organic base business growth and $9.2 billion in Covid-19 response revenue. It experienced strong growth in a number of areas, including biosciences, electron microscopy, and its research and safety market channel. In terms of new launches, the management launched the Thermo Scientific Orbitrap
Thermo Fisher delivered yet another decent quarter re-emphasizing the effectiveness of their growth strategy, powered by their PPI business system. The company achieved 17% organic growth for the full year of 2021, with 14% organic base business growth and $9.2 billion in COVID-19 response revenue. Throughout the year, Thermo Fisher experienced strong growth in a number of areas, including biosciences, electron microscopy, and its research and safety market channel. Additionally, they launched t
Thermo Fisher Scientific delivered an excellent result surpassing Wall Street expectations in terms of both, revenues as well as earnings. The world's largest maker of scientific instruments benefitted heavily from the surge in the number of Covid-19 cases resulting from the spread of the Delta variant. Thermo Fisher generated $2.05 billion in the form of Covid-19 response revenue in the third quarter, which includes sales related to vaccines and therapies as well as diagnostic testing. The comp
Thermo Fisher reached the target price from our last report as the company had a solid quarter with revenues shooting up 34% and an organic growth of 28% as compared to the prior year's quarterly results. The company’s core business of diagnostics and healthcare were major contributors to this growth and are well to reach pre-pandemic levels. Its immunodiagnostics and transplant diagnostics businesses showed a particularly robust performance. However, Thermo Fisher witnessed a visible slowdown i
Companies: Thermo Fisher Scientific Inc. (TMO:NYS)Synairgen plc (SNG:LON)
The cancer burden is growing globally. Each year >18 million people are diagnosed, nearly 10 million die and the estimated economic cost exceeds $1 trillion. From early diagnosis to late-stage disease, cancer care often involves inappropriate or unnecessary interventions that drive costs but provide limited clinical benefit. Coupled with an increased understanding of cancer biology and rapid technological advances, this has been driving momentum for precision medicine, leading to patient and soc
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EKF has reported a strong H1, with revenues of £37.5m and double-digit growth in underlying non-Covid related business. Management reports it is trading in line with expectations for the full year and we make no change to our profit forecasts at this stage. New growth initiatives are proceeding to plan and should lead to accelerated core growth from FY23 onwards. We continue to see substantial upside on successful execution with the shares trading on an FY23 P/E of 13.1x and an EV/EBITDA of just
Companies: EKF Diagnostics Holdings plc
Singer Capital Markets
Kromek reported full-year results to 30 April that were in line with the trading update of 16 May. Record visibility over our FY 2023 revenue forecast of £18m (c.53% of which is already contracted and 37% “Awarded not Contracted”, with the balance from its normal monthly run rate) is a great start for FY 2023 on which the company can build further. We are leaving forecasts unchanged for the moment, despite additional contract wins, and expect to introduce FY 2024 forecasts at the time of its int
Companies: Kromek Group Plc
Kromek announced a £1.7m fundraise by way of the issue of convertible loan notes (8% coupon, 18-month conversion period at 15p per share), which will allow the company to minimise any potential supply-chain disruption to the delivery of contracts during the year. We make only minor changes to forecasts to reflect the additional interest (c.£0.1m) accrued, with adjusted pre-tax loss increasing to £5.0m. We leave our target valuation of £118m (27p) unchanged, with near-term catalysts (e.g. a secon
Ahead of its upcoming results, ECO has issued an update flagging an issue around a sales tax liability and the treatment of certain items of capitalised development, offset by a foreign exchange gain will result in it reporting FY22 Adj EBITDA of ~£6.5m vs SCMe £7.1m. It has also indicated trading in China has been difficult in Q1 FY23, particularly with the large producers, but margins have improved on mix. Trading in the Rest of the World has been strong YTD. Given the proximity to the results
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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 export
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Smith & Nephew reported mostly in-line Q2 22 numbers, missing the top-line estimates (-0.6%) but beating on the trading profit (+0.5%), albeit marginally.
The Q2 performance was overshadowed by a 100bp margin downgrade for FY22 (-50bps Y-o-Y vs +50bps previously), which sent the stock ~9% lower in the session following the update. The reiteration of the top-line growth outlook of 4-5% was no help either.
We will cut our estimates, largely to reflect the soft margin guidance.
Companies: Smith & Nephew PLC
In Q2, Astra sustained its solid top-line momentum. Like in the past few quarters, this outperformance was again driven by higher COVID-19 business sales and solid growth in Diabetes drug Farxiga. Moreover, the recovering Oncology and much-needed green shoots in Rare Diseases were the icing on the cake. Although, profitability again came under the scanner but should improve in the coming quarters/years as the company completes its ‘growth phase’. Overall, a decent set of results and our positive
Companies: AstraZeneca PLC
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Inteliqo Limited, intends to join the Aquis Growth Market. Inteliqo Limited provides sales, marketing and distribution services to technology product owners under long-term distribution agreements. The Company has agreed its first such agreement in respect of the Ipedia iQ product range. The iQ product is a smart translation earphone (earbuds) system which offers integrated real time speech
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Belluscura has announced that it has entered into a Group Purchasing Organisation Product Supply Agreement with VGM Group which further expands its distribution network across the US.
Companies: Belluscura PLC
Companies: Argo Blockchain Plc (ARB:LON)Kromek Group Plc (KMK:LON)
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Inteliqo Limited has joined the Access Segment of AQSE Growth Market. Inteliqo Limited provides sales, marketing and distribution services to technology product owners.
Leavers: Menzies (John) plc and Sanne Group have left the Premium Segment of the Main Market.
What’s cooking in the IPO kitchen?**
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 sup
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For the year to 30 April 2022 Kromek reported results in line with the Trading Update of 16 May: revenue of £12.1m, +16.5%YoY, and an EBITDA (adj.) loss of £1.2m. We estimate revenue in the Advanced Imaging division grew 28% YoY to £4.6m, whilst the CBRN segment grew 1.5x to £5.4m.
Kromek reports that it expects growth to accelerate in both its core segments – security-related CBRN and advanced imaging – with the prospect of “a substantial year-on-year increase in revenue”. The CBRN segment in