ME Group - Strong H1, forecasts upgraded

In a positive H1 update (to April 2023), ME Group has detailed that H1 sales were up more than 24% and PBT more than 35% on H1 2022 driven by a strong performance across key areas. FY 2023 guidance has been increased and we have upgraded FY 2023E sales by 9% and adj. EPS by 12%. With the FY 2022 results in March, management highlighted plans to roll out 10k next-generation photobooths by 2025 (current base 28k) and accelerate the installation of laundry units. This process is clearly going well,

Hybridan Small Cap Feast - 06 Jun 23

6th June 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment objectiv

Guidance lifted after strong H1

Morning Note – 1 June 2023

The CEE leader’s expansion plan now appears more convincing

Despite the slightly weaker-than-expected FY22 results, the market reacted positively to Wizz Air’s encouraging financial guidance for the coming FY. We reconfirm our upbeat stance on the name and will upgrade our estimates to reflect our view of more visibility on the group’s vigorous-looking expansion potential.

Positive FY23 trading; revised FY22 guidance

A brief trading update from DPP today shows that the strong trading / LFL’s seen in Q1’23 has continued into April. We welcome this sustained momentum as well as further reference to inflationary costs around food and energy costs abating, albeit this is slightly tempered by no easing of labour cost pressures. Following the near end of the FY22 audit, management use today’s update to lower guidance for FY22 EBITDA. In absolute terms it amounts to a modest c.£0.6m as we lower our pre-IFRS16 EBITD

Initial Equity Trading Comments - 10 May 2023

Hostmore - Reassuring AGM trading update

Hostmore’s AGM trading update was reassuring, with L4L sales for the first 22 weeks of -3%, being broadly consistent with the first 16 weeks (-1%). Guest opinion scores are improving, the cost reduction initiatives are coming through as expected, and the decline in energy spot prices is helpful. The focus remains on cashflow to reduce borrowings. It is too early in the year to consider any changes to forecasts, and we reiterate our 55p target price, implying 152% upside.

SHORE CAPITAL - ScS Group+ (SCS, House Stock at 180p)

LIBERUM: Ten Entertainment Group* - Value pricing and innovation driving higher sales density

Lookers - Termination of coverage

Edison Investment Research is terminating coverage on SandpiperCl (SANDPI), Mirriad Advertising (MIRI), Trackwise Designs (TWD), Lookers (LOOK) and BerGenBio (BGBIO). Please note you should no longer rely on any previous research or estimates for this company. All forecasts should now be considered redundant.

SP Angel Technology: Cornerstone FS (CSFS.LN) - Updated Full Year Guidance

Revenue for 2022 is now expected to be ~£4.8m, up from ~£4.3m previously announced.

Morning Note – 26 January 2023

Lookers (LOOK LN) - FY 22 results & upgrade

Lookers FY22 results were 1.1% ahead of our forecasts at the adj. PBT level showing good underlying growth on the prior year after adjusting for COVID support received in FY21. The Group made decent progress both operationally and strategically and now has a strong and well capitalised platform to support future growth. We upgrade our forecasts in line with guidance and reiterate our view that the shares remain materially undervalued

Growth Companies - Share & share alike Sell in May?