10 Nov 16
Next Fifteen Communications (NFC.L) | Lightwave RF (LWRF.L) | Young & Co’s Brewery (YNGA.L) | Mercia Technologies ( MERC.L) | Mobile Streams (MOS.L) | Mincon Group (MCON.L) | Proactis Holdings (PHD.L) | ABCAM (ABC.L) | IDOX (IDOX.L) | Condor Gold (CNR.L)
Companies: NFC YNGN MERC MOS MIO PHD ABC IDOX CNR LWRF
19 Sep 16
Mincon delivers decent organic growth, sensible acquisitions still a focus
MCON reported revenue up 11%, operating profit up 9%, and EPS up 12%
Companies: MINCON GROUP PLC
08 Sep 16
"Equity markets globally remain in 'wait and see' mode. The overnight American and Asian markets all closed with just fractional, albeit mixed, movements as the US central bank's Beige Book, which based anecdotal feedback on economic activity collected during July and August from a dozen district banks, was seen to chant the same old lacklustre message. It noted the economy continued to expand at a modest pace and that contributors expected growth at a 'moderate' pace in the coming months, coming in tandem with a Fed Reserve report noting on Wednesday that a tight labor market and rising wages were not generating substantial inflation pressure. 'Steady as she goes' might be one interpretation, but 'clear as mud' might be another for Chair Janet Yellen who is expected to make an informed policy decision at the looming Federal Open Market Committee Meeting scheduled for 20th and 21st September. Betting right now, perhaps not surprisingly, is that rates will remain unchanged while expected data releases between now and the year-end a still expected to suggest opportunity for at least a 25bp hike, even if hawks like Jeffrey Lacker continue to bang the drum for earlier, decisive action. In the Far East, China provided the main talking point following its release of monthly export data, its traditional engine for growth, that showed a slide of 2.8% in US$-terms on last year following a 4.4% decline in July; a dull outcome, but still sufficient to beat the consensus expectations, which the Wall Street Journal polled as a 4% contraction. The ASX was the only market keen enough to make a decisive move in the region, as the commodity-led index continued to adjust to the hit on the US$ following disappointing ISM data earlier in the week, although oil futures were seen to extend gains during early morning trade following a report from the American Petroleum Institute that detailed a steep weekly draw on crude stockpiles in the US, bucking expectations of a rise and pushing prices back closer to the US$50/bbl level. Europe is in focus for macro releases this morning, with the ECB interest rate decision anticipated, along with a press conference from Mario Draghi. PM, Theresa May, is also due to meet Council President, Donald Tusk, today in London while Chancellor, Phillip Hammond, is presenting to a House of Lords Committee. Earnings figures are due form Deltex Medical (DEMG.L), Genus (GNS.L), Mattioli Woods (MTW.L) and Tower Resources (TRP.L), along with a trading statement from Dixons Carphone (DC..L). The FTSE-100 is seen opening around 8 points up this morning in relatively light volume." - Barry Gibb, Research Analyst
Companies: GLR MIO AMP AHT BDEV JOUL PEG
19 Aug 16
ALPHA REAL TRUST LTD (ARTL LN) | FOX MARBLE HLDGS PLC (FOX LN) | INDEPENDENT OIL & GAS PLC (IOG LN) | INSPIRATION HEALTHCARE GROUP PLC (IHC LN) | MINCON GROUP PLC (MIO ID) | NETSCIENTIFIC PLC (NSCI LN) | PHSC (PHSC LN) | POLO RESOURCES LTD (POL LN)
Companies: POL PHSC IHC MIO NSCI FOX IOG ARTL KLN IME
01 Jun 16
London equities are expected to open little changed this morning, with the FTSE-100 seen falling around 11 points in early trade. Despite a better than expected consumer spending report, US investors appeared more focussed on this Friday‟s non-farm payroll report, leaving all principal indices modestly down on the day, albeit still remaining ahead for the month. Chinese stocks continued volatile on Wednesday as investors assessed the country's latest monthly decline in non-manufacturing data along with a stable purchasing managers index, while losses in resource sector shares pressured the Australian market and forced Japan's Nikkei to break a five-session run of gains. On the corporate front, Anheuser-Busch InBev on Tuesday cleared an important regulatory hurdle in South Africa, gaining approval of its acquisition of SABMiller from South Africa's Competition Commission; the deal now goes to South Africa's Competition Tribunal for final clearance. Data watchers this morning will have much to chew over, with release of the OECD Economic Outlook, U.K. manufacturing PMI, Bank of England Money and Credit release, BRC Shop Price Index and the CBI Growth Indicator Survey. Results are due fromHalfords, Wolseley, Acal and Telford Homes.
Companies: MIO EVG VOG AVO
Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on MINCON GROUP PLC. We currently have 4 research reports from 2 professional analysts.
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MINCON GROUP PLC
MINCON GROUP PLC
20 Apr 17
The tide is turning
Any investor worth their salt knows it is impossible to precisely call a bottom in a particular stock. For Gattaca, though, we believe this moment has now passed given the compelling valuation (6.9x EV/EBIT vs 9.8x sector average), attractive 9.8% unlevered cashflow yield and constructive secular trends supporting its specialist markets. Sure, Net Fee Income (NFI) like-for-likes (LFL) have fallen of late, yet equally there are now early indications that organic growth may soon turn positive.
26 Apr 17
Panmure Morning Note 26-04-2017
The interims highlighted the dilutive impact of equity raise in November 2016 with profit before tax growing by 9% yoy but EPS growing by just 5% yoy. At end-February, the cash balance had reached £15m, of which £5.5m is earmarked for the completion of the new factory. As the company remains cash generative, we expect the company to end fiscal 2017 with just under £13m of cash. We eagerly wait to see how this cash will be invested and drive returns.
Companies: Ab Dynamics
06 Apr 17
N+1 Singer - Small-cap quantitative research - Growth style screen revamp and 10 focus stocks
We have reviewed the performance of our consistent growth screen since the previous refresh on 27 September 2016 and revamped the selection parameters to focus more on forecast sales and EPS growth going forward. In the period under review the consistent growth style screen outperformed the small-cap benchmark by c. 6% and underperformed the microcap index by a similar amount. Interestingly, although growth doesn’t always seem to be defensive as might be expected, however it appears right to buy growth on dips caused by or coincident with wider market volatility. In the new forecast growth screen we take a close look at 10 focus stocks. We will monitor performance and refresh it in three to four months time.
Companies: ECK SDM DOTD ERGO HW/ EAH PHD FEN LOOP
04 Apr 17
Profit improvement impacted by dollar
Sprue’s 2016 adj. PBT was slightly better than anticipated at £2.3m on £57.1m of sales. With battery warranty issue worries abating we believe sales in Europe will increase in 2017. While we have made no significant changes to our sales forecasts, the dollar strength has led to reduced profit forecasts for 2017 and 2018 (despite the net benefit from Newell Brands ending its agreements from 31 March 2018). However, with the strong balance sheet and dividend yield and profit growth to come, we retain our 250p target price and Buy rating.
Companies: Sprue Aegis
24 Apr 17
Small Cap Breakfast
Global Ports Holding—Intention to float on Standard List of the Main Market. International cruise ports operator. Seeking $250m raise including $75m primary offer. Dorcaster—Schedule One Update. Admission now expected on AIM 3 May. RTO of Escape Hunt raising £14m at 135p. Verditek— Intention to float on AIM. On Admission, the Company's subsidiaries will be involved in advanced solar photovoltaic, filtration and absorption technologies specialising in providing environmental services. Raising £3.5m. Admission in May. Eddie Stobart Logistics— Schedule 1 update. Admission expected 25 April on AIM raising £122m. ADES International Holding— Intends to join the Standard List of the Main Market in May raising up to $170m plus a vendor sale. Provider of offshore and onshore oil and gas drilling and production services in the Middle East and Africa. Admission expected in May. Tufton Oceanic Assets– Offer extended to 9 May on specialist funds segment of Main Market to enable investors to complete further due diligence.
Companies: FISH GOAL NASA HAL SHRE BIOM MPM MORT HDT LOK
20 Apr 17
N+1 Singer - Trifast - FY17 results ahead of expectations
Trifast has provided a positive year end trading update, with good performances across all geographies. Results for FY17 are guided to be ahead of expectations, with year end net debt also lower than previously expected. FY18 has also started well, although management has reiterated slight caution regarding margins due to rising input costs. We anticipate increasing our PBT forecasts by a mid-single digit percentage, and also reducing our net debt estimates. We remain positive on prospects for Trifast and expect the share price to respond positively today.
25 Apr 17
N+1 Singer - Morning Song 25-04-2017
Carpetright (CPR LN) Tougher conditions leaves forecasts towards lower end of range | Centaur Media (CAU LN) Bigger steps | Elementis (ELM LN) Positive update confirms strengthening of demand | Rathbone Brothers (RAT LN) Facing the challenge to deliver growth | Vp (VP/ LN) Another niche Hire Station deal prompts 3% EPS upgrades
Companies: CAU VP/ ELM CPR RAT
07 Apr 17
Conviction List Q2 2017
Since its inception in 2010, the Panmure Gordon Conviction List has outperformed the market, returning 275% against a Small Companies index that would have returned 212%.
Companies: ALD AVON CTH EPWN INF MCB MRO NOG POLY SNR SMS STJ STJ WIZZ
20 Apr 17
N+1 Singer - Morning Song 20-04-2017
Carpetright (CPR LN) Preview – FY pre-close update due on Tuesday | SDL (SDL LN) Disposal of Social Intelligence | Senior (SNR LN) Q1 trading in line | Senior (SNR LN) Q1 trading in line | Servelec Group (SERV LN) Calling the bottom | Trifast (TRI LN) FY17 results ahead of expectations
Companies: SDL TRI SNR SERV CPR
27 Mar 17
The Joy of Techs
Enterprise-focused niche applications of tech illustrate how, while trends appear to be fluctuating away from the current poster children of fintech and the Internet of Things, in fact these developments are refining appropriate application of existing technologies.
Companies: 7DIG AMO ARTA BVC BOTB CTP CFHL ISL DTC DOTD ELCO ESV FDSA FDEV GBG IDEA IDOX IMTK IGP IOM KBT KCOM KWS LRM MAI MMX NASA NET ONEV PHD QTX QXT RCN 932 SSY SEE SIM SPE TAX TEP TPOP TRAK UNG VIP ZOO
24 Apr 17
Lok’nStore* (LOK): Growth supported by a strong balance sheet (CORP) | Mortice* (MORT): UK acquisition (CORP) | Avacta* (AVCT): Another milestone – 1st non-therapeutics licence (CORP) | Petra Diamonds (PDF): Trading update and Q3 results (BUY) | Nasstar* (NASA): Growth and margin focus (CORP)
Companies: LOK MORT AVCT PDL NASA
26 Apr 17
N+1 Singer - Morning Song 26-04-2017
Abzena (ABZA LN) Set for transformational growth | Boohoo.com (BOO LN) Strong continuing momentum in BOO and PLT, cautious start for NG | Brooks Macdonald Group (BRK LN) Positive net inflows and performance combine to drive FuM growth | Devro (DVO LN) Reassuring AGM update | Nichols (NICL LN) Positive AGM tenor supportive of premium rating | Oxford Instruments (OXIG LN) Sale of Industrial Analysis business | PCI-PAL (PCIP LN) Contract win | PROACTIS Holdings (PHD LN) H1 results as expected, no change to forecasts | Stadium Group (SDM LN) Trading in line; Technology Day for investors | Walker Greenbank (WGB LN) Momentum visibly rebuilding post floods and after investment in growth
Companies: OXIG DVO NICL SDM WGB BOO ABZA PCIP BRK PHD
26 Apr 17
Vipera* (VIP): Progress in 2016 should see profit this year (CORP) | HML Holdings* (HMLH): Positive trading update (CORP) | Europa Oil & Gas*: Cairn Energy gains government approval (CORP) | Blancco Technology Group* (BLTG): Initiation of coverage: Firing blanks (SELL) | Proactis* (PHD): Business as usual (CORP)
Companies: VIP HMLH EOG BLTG PHD
26 Apr 17
N+1 Singer - Stadium Group - Trading in line; Technology Day for investors
A brief update to coincide with a Technology Day for investors confirms that trading has been in line with expectations in Q1. We said in March that trading momentum was strong and with the full impact of the design centres yet to be felt in the numbers, this is an exciting time for the Group. We expect the Technology Day today to highlight the transformation of the Group towards the higher value added areas and also to emphasise the strength of second tier management, We continue to feel that a P/E of just over 10x FY17 EPS is extremely good value.
19 Apr 17
We take a look at the supply and demand dynamics of the world’s largest diamonds. Less than 200 very large (>200 carat) gem quality diamonds have ever been found, yet 23 of these have been found in the past three years. This dramatic increase is being driven by a combination of the rapid increase in the number of billionaires and hence price and demand, combined with technological developments that have improved large diamond recovery and a certain amount of geological good luck.
Companies: APF ACP ATYM BKY CAML FDI GEMD GEM HZM NCCL PAF PDL SHG WTI WLF