Trinity Delta Lighthouse: Avacta

Trinity Delta view: Prioritisation of the Therapeutics division continues, with Christina Coughlin’s appointment as CEO (having been on the Board since March 2022 and Head of R&D since February 2024). Once the Diagnostics division has been divested, Avacta will become a fully focused biotech company. This strategy is underpinned by the proprietary pre|CISION platform, and lead peptide drug conjugate AVA6000. Completion of the two-weekly safety study and progression into dose expansion cohorts du

Avacta Group - FY23 results, Chris Coughlin appointed CEO

Avacta reported results for FY23 but more importantly announced the appointment of Christina Coughlin as CEO wef 1 May, replacing Alastair Smith who is stepping down today. FY23 results were better than consensus at the EPS level. Net cash ended the year at £16.6m, as previously disclosed, which has since been bolstered by the £31m gross equity raise enabling Avacta to fund the AVA6000 programme through Phase 2 clinical trials, as well as advancing other candidates in its pre|CISION™ and Affime

Pensacola appraisal well - funding challenges

Christie Group + (CTG, House Stock at 98p) - Difficult FY23A, future looks better

Duplicate of BWMX: 1Q Review: In-Line Q, With Multiple Positives (Updated); Reiterate Buy

We are reiterating our Buy rating and $22.50 price target for Betterware after the company reported an impressive 1Q, with better than expected top line results. Further, management reiterated 2024 revenue and EBITDA guidance. There was also material progress at Betterware, which enjoyed double-digit increases in average ticket and revenue and is nearing the shift to positive growth in Associates. JAFRA Mexico also registered another strong quarter, as the acquisition has remained a key winner.

Allenby Capital TMT Update - 29.04.24 - SKL.L, ENET.L, CHSS.L

Please find below our weekly update covering themes that we feel that are of interest to investors and participants in the small and mid-cap TMT sector as well as commentary on recent newsflow.

Northcoders - Inline results demonstrate record growth, strong fundamentals; FY24E starts well

Following on from the news, earlier in the year, of a conspicuous, £10m, contract win, this morning's FY23A results demonstrate rapid growth for the business last year, with revenues +27% YoY. 2023 was a year of investment for CODE, with a series of meaningful upgrades to the learning, marketing and administrative platforms leaving the business well-placed to develop profitably, as projected in our forecasts. Gross margin remained robustly above 60% and the company saw double digit increases bot

Hostelworld Group - Backpacking them in

Hostelworld’s pioneering and fast-evolving ‘social’ strategy is delivering aplenty. Material outperformance of the hostel market (FY23 bed nights sold up 30% vs industry 8%) and low-cost acquisition and retention of high-value customers (over a million social members after just 18 months) confirm the success of the company’s app-centric model, which taps into the social media habits of its target demographic to mutual benefit. With reducing marketing percentage of revenue on track to meet the FY

hVIVO - Introducing 2025E; HSD sales grth/margin expansion expected

Post further analysis of the FY 2023 results on 9 April 2024, we are establishing FY 2025 forecasts, as well as modifying our forecast adjusted net profit/EPS figures for 2024 and 2025 to reflect the accounting of the deferred tax asset. Our 2025 forecast calls for 9% growth in customer revenues, stable other operating income (largely R&D tax credits) vs 2024, EBITDA margins going back to the 23% level (after a slight contraction in 2024 to reflect 3 facilities being run in parallel for part of

Morning Note – 25 April 2024

Allenby Capital - Biome Technologies Finals

Full year results were in line with our revised expectations with strong revenue growth being driven by significant progress within the Bioplastics division but tempered by a reduction in sales within the RF Technologies division. The current year is expected to see a further increase in revenues, this time being delivered principally by a recovery in RF and a more modest increase in Bioplastic sales. We expect the Company to trade on a cash neutral basis and hence see gross cash levels remainin

Elixirr - Outperforming competitors and the global Consulting market

Elixirr offers investors exposure to the long-term growth trends in the global Consulting market (including digitisation and the ongoing technology revolution, demand for innovation, efficiency and specialised expertise) all turbo charged by the group’s ‘challenger’ strategy driving market share gain from a low base. FY 2023 results showed the power of Elixirr’s differentiated model with revenue up +20% and adj. EPS up +22% in a market subdued by global uncertainty. With net cash of £18m, a posi

SP Angel Morning View: Gold prices slide following profit taking as traders look to US data

Top of the Pops

We reveal the winners of our investment trust ratings for 2024... Our ratings seek to reward closed-ended funds which deliver attractive and persistent performance characteristics in three categories which we think match up to broad goals investors usually have: long-term growth, income and growth, and high current income. This includes strong performance versus a fund’s underlying market, as well as attractive risk characteristics which we think suggests they could continue to be premium optio

Anexo Group (ANX LN) - Key Supreme Court Judgement: No cap on non-whiplash compensation

Key ruling sets out the ability to claim compensation for non-whiplash injuries alongside whiplash claims, without the quantum of damages being restricted by the Whiplash Injury Regulations, supporting the Group’s legal services division Bond Turner in pursing the optimal outcome for the claimants it represents.