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The Group has reported excellent progress in FY2021, despite Covid disruption, delivering adj. operating profit growth of 35.8%, some 5% ahead of that indicated in April’s trading update. The business has benefited from its diverse and resilient sector exposures, alongside exposure to a number of growth markets that include data centres and EV charge cables where revenue growth was 38% and 193% respectively. The business is well positioned into FY2022 with strong trading noted in the first 2 mon
Companies: Volex plc
Seeing Machines has announced that its DMS software is now available across five additional vehicle models from world-leading automotive manufacturers.
It has been working closely with Joyson Safety Systems since 2011 to integrate the Company's software into the General Motors' Super Cruise driver assistance feature. This system, based on the Company's FOVIO e-DME (embedded Driver Monitoring Engine) software, is now available in three new vehicle models including the General Motors' 2021 Cadill
Companies: Seeing Machines Limited
Tern plc* (TERN.L, 23.75p/£78.5m) | CAP-XX Ltd* (CPX.L, 8.15p/£36.0m) | MTI Wireless Edge Ltd* (MWE.L, 64.5p/£57.1m) | Newmark Security plc* (NWT.L, 1.2p/£5.6m) | Blackbird plc* (BIRD.L, 32.0p/£107.9m)
Companies: TERN CPX MWE NWT BIRD
Despite the challenges presented by Covid-19, TP Group was able to report organic revenue growth of 9% YoY in FY20A, and total revenue up 20% YoY. Aided by strategic acquisitions, non-core business disposals, and investments made within the group, the company should be well placed to benefit as trading conditions normalise. With visibility improving, we release new forecasts for FY21E and FY22E (Adj EBITDA of £4.2m and £5.1m respectively). Given the improving outlook, and a record order book (£6
Companies: TP Group Plc
We increased our forecasts on 3 June as SThree pre-announced the strength of Q2. Today’s full release shows Q2 NFI +22% y-o-y and H1 NFI +3% on H1 19. The contractor order book is up 33% and productivity +36%. We make no changes to forecasts today, but now expect H1 21 PBT of £27.4m, up 14% on H1 19. Our H2 estimates are cautiously set, reflecting more normalised contractor working hours and selective headcount investment. We see the risks to be on the upside. Maintain Buy.
Companies: SThree plc
As midsummer’s day looms (where has this year gone?), there is greater optimism, in general, than may have been anticipated a few months ago. A post-pandemic, ‘vaccine-driven’ recovery demonstrated by increased consumer spending as lockdown measures are lifted has been one of the catalysts. The FTSE 100 has been range-bound in the last month 6,900-7,100. We have seen a combination of broadly positive company results across a range of sectors, further examples of M&A activity and a sequence of ne
Companies: AMYT ARBB ARW BAG BEG BONH BWNG CWK DNK EML EPWN FBD FA/ GPH GSF GNC HUW IGC INSE KAPE KP2 MMAG NRR NESF OTMP ROL RUA SEN SUR TON TOU TXP TGL VLS WINK
The robustness of the operating model and management's action to support customers and manage the cost base led to Vianet generating positive operating cash flow in FY21A. There is a strong pathway to recovery but the full extent is somewhat caveated on a full reopening profile that is yet to be confirmed. We are forecasting the Group to be free cash flow positive this year and see upside in the price as new order momentum returns.
Companies: Vianet Group plc
Epwin has entered FY21 with positive revenue momentum, having successfully navigated some extreme market conditions in the prior year. The company has built a solid base from which to grow volumes, and a positive cash generation profile provides headroom to invest organically and via acquisition as post-pandemic markets begin to normalise.
Companies: Epwin Group PLC
Britain’s leading structural steel specialist slightly beat our previously increased estimates for FY2021, with adjusted PBT of £24.3m in today’s results, against our estimate of £24.0m. “Considerable positive momentum” has continued into FY2022E, with an increased order book in both UK & Europe and also in the Indian JV, despite the second wave hitting the subcontinent. We are not changing our FY2022E estimates, being early in the financial year, but continue to believe the Group is strongly pl
Companies: Severfield Plc
Half-year results place the group on track to achieve existing expectations. The earlier signal that some train sector project revenues were being rescheduled into FY22 has been not much worse than management anticipated, with activity building in Q4 and strong order book for FY22 and beyond. Swift action to reduce costs has contained the impact on profits and this focus on cash has resulted in a £0.5m reduction in net debt to £1.95m. No change to trading forecasts, with a higher tax credit resu
Companies: LPA Group Plc
Being financially trained, I’m naturally a cautious man. However occasionally you have to ‘smell the coffee’ when the fundamentals change, perhaps forever. In fact if nothing else, the pandemic has taught ‘value investors’ (like myself) to rip up many historical norms, and peer instead through the ‘looking glass’. Particularly relating to medicine, sustainable living and technology, which we believe have now all entered golden periods. Why is this important? Well for a while I’ve been a little s
Companies: Mpac Group PLC
It’s a heady mix. Lockdown the country, pump £100bns into the economy, displace millions of workers, don’t allow them to spend for 12 months, and then push the release button. Hey presto, you end up with a ‘V-shaped’ recovery, together with a shortage of qualified staff. Particularly anything related to technology, green power & engineering, as corporates accelerate their digitisation plans, alongside the secular expansion of renewables, electrification, defence (cyber & marine) and infrastructu
Companies: Gattaca plc
Oil posted its third straight weekly rise on improving demand, with the International Energy Agency warning the market will need extra supply next year.
Futures in New York rose 1.9% this week, extending its rally to the highest settle since October 2018. The IEA said that OPEC and its allies will need to lift output to keep the market adequately supplied, though the agency predicted demand will not reach pre-virus levels until late 2022.
Meanwhile, road traffic in the US and much of Euro
Companies: FO 88E DEC EME GTC TRIN UOG
Results from Active Energy Group (AEG) are very much historic, in that the revenues generated in 2020 are derived largely from lumber activities which do not form the core of the Group’s future business plans and are either in the process of being closed down or under review. Equally, the capital base from which the Group operated during 2020 has fundamentally changed with the elimination of all Convertible Loan Notes in February 2021. Going forward, the Group’s strategy is focused on exploiting
Companies: Active Energy Group plc
Power reliability and drilling tools specialist Northbridge has confirmed in today’s AGM update that it is “firmly on track to meet management expectations” for FY21F and indicated momentum is likely to continue beyond that, driven by growth in datacentres and renewables and a 50% enlargement of its UK factory. It has also announced a £10m refinancing, including the redemption of its convertible loan notes. Lower interest costs nudge up our FY21F adjusted PBT from £2.0m to £2.1m. Northbridge als
Companies: Northbridge Industrial Services plc