Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on PITTARDS PLC. We currently have 2 research reports from 1 professional analysts.
|21Mar17 07:00||RNS||Final Results|
|22Feb17 14:20||RNS||Holding(s) in Company|
|24Jan17 13:54||RNS||Holding(s) in Company|
|21Dec16 07:00||RNS||Situation in Ethiopia and Trading Update|
|15Nov16 09:15||RNS||Holding(s) in Company|
|10Oct16 11:15||RNS||Situation in Ethiopia|
|05Oct16 13:30||RNS||Director/PDMR Shareholding|
Frequency of research reports
Research reports on
Small Cap Breakfast
21 Dec 16
Ultimate Products—The Telegraph reports Jim McCarthy, former chief of Poundland has been appointed Chairman of Ultimate Products ahead of a £100m listing in H1 2017. Ultimate Products owns the Beldray cleaning brand and the licence to sell Russell Hobbs and Salter electrical products in the UK.
20 Sep 16
Cambridge Cognition* (COG.L) | Crossword Cybersecurity * (ISDX:CCS) | Smart Metering Systems (SMS.L) | Berkeley Energia (BKY.L) | Clontarf Energy (CLON.L) | EVR Holdings (EVRH.L) | Shield Therapeutics (STX.L) | Pittards (PTD.L) | Mountfield Group (MOGP.L) | Lighthouse Group (LGT.L)
Outperformance in the bag
24 Mar 17
IG Design has had a very good second half trading and has issued a year-end update indicating that numbers will exceed market estimates. We have lifted our FY17 and FY18 numbers by 8-10% at the pre-tax and EPS levels, following an 11% uplift to earnings with the interims. Particularly notable is the comment on strong cash flow, with the group reaching its target of average leverage less than 2.5x EBITDA two years ahead of plan. With the earnings and cash flow momentum, strong balance sheet and progressive dividend, there is good potential for further share price upside.
24 Mar 17
We note the share transaction yesterday, and think the stock will benefit from the increased liquidity. We continue to believe there is good valuation upside to the shares. However, we are terminating coverage of Watkins Jones from this morning and withdrawing our forecasts from the market.
Panmure Morning Note 20-03-2017
20 Mar 17
Today’s strong H1FY17 trading statement is encouraging on multiple levels; (1) H1FY17’s revenue growth of c.+23% to £32m indicates revenue growth running well above our forecast assumption of +15% for FY17 (August 2017); (2) the revenue growth continues to be broad-based across the two main brand groups (Focusrite and Novation) and all of TUNE’s global regions (USA, Europe, and RoW); (3) H1FY17’s constant currency revenue growth of c.+12% is a sequential acceleration from the c.+9.5% of H2FY16 and c.+5.5% of H1FY16; and (4) H1FY17’s net cash of £9.4m is well ahead of our forecast of £7.7m by August 2017, reflecting strong revenue/profit conversion combined with much improved w/c control. In short, we think there is excellent scope for our FY17 forecasts to be raised at the time of the H1FY17 results on May 3. We maintain our BUY.
Management hopes for a better 2017
21 Mar 17
BMW’s final 2016 accounts were, compared to what we had anticipated, slightly disappointing. We had said so when preliminary numbers were released earlier this month. Today’s guidance for 2017 shows slight growth in all categories, i.e. volume, revenue and consolidated pre-tax earnings are all projected to go up. Reading between the lines, the statement suggests that the EBIT margin generated by the Automobiles division is likely to fall further (it was down from 9.2% to 8.9% in 2016). Whether Financial Services can again increase its margin (it was up by 0.1pp to 8.4% last year) remains to be seen and will also depend on the price development of used vehicles.