Profitability ahead

G3 Group (GGL) operates three businesses: document and data management in New Zealand and Australia, a unique UK-based tourist souvenir business and a business mail operation in NZ. The performance for the three months to 31 December 2016 was strong, with both gross and operating margins reported ahead of target. The company attributes its outperformance to strong revenues in the higher-margin document management business versus the less profitable business mail unit. As expected, inventory days

Management says FY17 KOM targets to be met

G3 Group (GGL) operates three businesses: document and data management in NZ and Australia, a unique UK-based tourist souvenir business and a business mail operation in NZ. The audited FY16 financial results showed NPAT of NZ$2.14m, which was 12.2% ahead of FY15 and included a PBT contribution of NZ$0.04m from Formfile Records Management Group, acquired on 20 January 2016. It also included costs associated with IPO and the introduction of an employee share scheme, totalling NZ$0.227m and NZ$0.34

NPAT up 12.2% for FY16

G3 Group (GGL) operates three businesses: document and data management in NZ and Australia, a unique UK-based tourist souvenir business and a business mail operation in NZ. The audited FY16 financial results showed NPAT of NZ$2.14m, which was 12.2% ahead of FY15 and included a PBT contribution of NZ$0.040m from Formfile Records Management Group, acquired on 20 January 2016, as well as costs associated with IPO and introduction of an employee share scheme totalling NZ0.227m and NZ$0.345m respecti

Margins ahead of expectations

G3 Group operates three businesses: a New Zealand-based business mail operation, a unique UK tourist mail business (Universal Mail UK) and document management in New Zealand and Australia. The performance for the third quarter that ended 31 December 2015 showed gross margin and inventory levels for the quarter and year to date above the key operating milestone (KOM) targets. The volume of items processed in the third quarter was below the KOM target, but is expected to increase in the fourth qua

Core outperformance in H117

G3 Group (GGL) operates three businesses: document and data management in New Zealand and Australia, a unique UK-based tourist souvenir business and a business mail operation in NZ. The performance for the six months ending 30 September 2016 showed a significant improvement versus the same period a year earlier, with underlying EBITDA growing by 24.9%. Strong growth in a G3 core home market of New Zealand post was one of the main drivers behind its strong performance. Furthermore, several bolt-o

On the right track

G3 Group operates three businesses: a New Zealand-based business mail operation, a unique UK tourist mail business (Universal Mail UK) and document management in New Zealand. Following its successful listing on the NXT in June 2015, the company has provided the market with a business update for Q116 stating that all key operating milestones (KOMs) the company on track to meet its second quarter targets and KOMs.

Mail and beyond

G3 Group operates three businesses: a New Zealand-based business mail operation; a unique UK tourist mail business (Universal Mail UK); and document management in New Zealand. The compliance listing on the New Zealand NXT market does not include the raising of any capital and will provide a platform for organic and acquisition-fuelled growth.

2022 interims

Cambridge Cognition has announced strong interims which are consistent with the company's July trading update.

2022 Interims

Pelatro's interims show the company grew strongly during the period, beating DCe at the top and bottom line.

Cenkos: LoopUp Group Plc -Transfer agreement brings strong cash flow

LoopUp has assumed a book of conference service contracts from a US competitor for no initial outlay. This book will yield operating cash flow of c£5m on an annual basis. Together with the renegotiated banking facilities secured earlier in the year, the Group's enhanced cash flow and headroom in its facilities will position the company well for FY23E and we upgrade the stock to Buy.

Cenkos: Concurrent Technologies Plc -- H1/22 update – supply problems frustrate

Concurrent Technologies' interim results confirm the worldwide shortage of semiconductor components has placed significant headwinds in front of the business, inevitably slowing manufacturing output and order shipments to customers. None of these delays have led to any loss of underlying business, however, we anticipate a significant period of growth to follow the normalisation of component supply chains, fulfilling both delayed backlog and a rapidly growing order intake. Investment in R&D doubl

Fonix Mobile - Strong FY22 with 17% gross profit growth and EFCF 7% ahead

After reporting FY22 gross profit and adjusted EBITDA +2% ahead at the July trading update, Fonix has reported strong FY22 results, with underlying EFCF +7% ahead, net cash +8% ahead, and a proposed FY22 DPS +7% ahead at 6.5p. Through FY22, Fonix has continued to deliver against each of the five elements of its strategy, including launching into Ireland, where it has achieved a new customer win for the group. FY22 TPV growth of +11% drove gross profit growth of +17% to £13.2m, as management focu

Morning Note – 22 September 2022

Hybridan Small Cap Feast 27/09/22

Dish of the day Joiners: No joiners today. Leavers: No leavers today. What’s cooking in the IPO kitchen?** Streaks Gaming plc, a UK-based provider of conversational gaming products intends to join the Standard Segment of the Main Market this autumn. The flotation is expected to value Streaks at approximately £10.2m (pre-money) and will make it the first LSE-listed "pure-play" conversational gaming company. Raising between £5-10m. Independent Living REIT plc, intends to float on the Premium Segme

Cenkos: Brave Bison Group Plc - On the charge again

Brave Bison released its interim results for the period ending 30 June 2022 and is ahead of the strong trading update released in July. The business continues to perform well despite economic headwinds and is making strong progress in hitting the business plan objectives, which we discuss in further detail in the report. In total so far this year Brave Bison have won 12 new clients, including Paperchase, Rapyd and Viking Direct. We have released forecasts for FY23E which show a continuation of g

LIBERUM: TruFin* - In control: well positioned

Morning Note – 27 September 2022

Hybridan Small Cap Feast 21/09/2022

Dish of the day Joiners: No joiners today. Leavers: No leavers today. What’s cooking in the IPO kitchen?** Independent Living REIT plc, intends to float on the Premium Segment of the Main Market. The Company's investment objective is to address the shortage of high-quality supported housing, delivering capital growth and inflation-linked income returns for its investors whilst providing a fair deal for society through savings for the UK taxpayer, and improved outcomes for residents. Raising £150

Interims confirm on track to deliver FY22E profits

Instem’s H1 results are in line with the July trading update and confirm the group is on track to deliver against FY22 profit forecasts. Higher margin recurring software revenue growth is outstripping more lumpy service & consulting revenue, which bodes well for future margin and value accretion. Markets remain robust and demand for Instem’s solutions continues at a high level. Post-period end, Instem won its largest ever contract worth a minimum of $12m over the next five years and opening up a

WH Ireland: GENinCode (GENI) - Advancing genetic risk assessment of cardiovascular disease

GENinCode's (GENI's) portfolio of clinical genomic tests provides information to enhance standard risk assessment and diagnosis of cardiovascular disease (CVD), which is the highest cause of death globally (over 18 million deaths per annum) and the single-biggest area where the NHS can save lives over the next 10 years. GENI commercialises its tests, based on polygenic or multi-gene markers, in Europe and the UK. After generating H1 2022 revenues of £0.7m (+11%), end June cash of £12.4m covers g

Strong H1 supports a record FY22

Gresham has delivered H1 19% organic revenue growth with cash EBITDA margins rising to 8% from 6% and adj. FD EPS up 74% yoy as organic leverage and accretion from Electra kicks in. Clareti ARR has risen 18% organic with $ denominated revenues helping protect against £ weakness. H1 revenues of £23m leave a comfortable £19m to do in H2 and H1 adj. EBITDA of £4.5m is tracking at least in line with our FY22 forecast of £9.2m. Bigger picture, Gresham estimates that the marginal cash EBITDA margin on

Cenkos: Ingenta Plc -- Solid H1/22 interims & FY22E upgrade

Ingenta, the provider of software technology and supporting services to content providers and publishers around the world, has released H1/22 interim results in line with the August trading update, with revenues slightly ahead of H1/21 at £5.3m (H1/21: £5.1m). Adjusted EBITDA was up strongly to £1.3m, up 67% versus H1/21 (H1/21: £0.7m) and we have modestly upgraded our revenue and EBITDA forecasts for FY22, to £10.6m and £1.9m respectively. Ingenta benefits from a high level of recurring revenue