Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on FASTJET PLC. We currently have 23 research reports from 3 professional analysts.
|24Mar17 07:00||RNS||Directorate Change|
|07Mar17 15:00||RNS||Exercise of warrants|
|26Jan17 18:04||RNS||Holding(s) in Company|
|24Jan17 12:21||RNS||Holding(s) in Company|
|24Jan17 12:17||RNS||Holding(s) in Company|
|24Jan17 11:08||RNS||Director/PDMR shareholding notification|
|23Jan17 10:49||RNS||Result of Meeting|
Frequency of research reports
Research reports on
Turning the plane around
21 Sep 16
Often the best laid plans are the most ambitious, especially when executed by proven turn-around experts. Take fastjet, Africa's leading 2016 Low-Cost Airline as voted by World Travel Awards. After a very challenging 12 months, newly appointed (1st August) CEO, Nico Bezuidenhout, has kicked-off a ‘no holds barred’ Stabilisation Plan to dramatically reverse the business’ fortunes.
Headwinds continue for longer than expected
03 Jun 16
Hindsight is a wonderful thing. 12 months ago Fastjet Tanzania was riding a ‘crest of a wave’ having out-grown the capacity of its three A319s jets, raised $75m via a placing at 100p/share and delivered higher ticket prices, load factors and utilisation rates. All told, the company’s low-cost carrier (LCC) model was going down a treat with cashstrapped African travellers, who previously had to endure poorly connected and expensive air travel.
Challenging conditions continue
08 Mar 16
Apologies, we were far too optimistic in December. Back then we felt, after being impacted by October’s Tanzanian presidential elections, that demand for fastjet’s low-cost services would rebound in Q1’16. Unfortunately (in hindsight) it appears our timings were 6-9 months too early, with the Board saying yesterday that the “challenging conditions” had persisted longer than initially thought. As a result 2016 results are now predicted to be both “materially below expectations” and cashflow negative, with the company perhaps having to consider a fresh capital raise later in the year.
Buffeted by transient factors
23 Dec 15
“Dr Livingstone I presume?” Those were the famous words uttered by Sir Henry Stanley, when he eventually tracked down his fellow explorer David Livingstone beside Lake Tanganyika, Tanzania in 1871. Both gentlemen having separately undertaken daring adventures across some of Africa’s most challenging terrain.
28 Mar 17
ClearStar* (CLSU): Building a background for growth (CORP) | Sound Energy (SOU): TE-8 results (HOLD) | LiDCO* (LID): 2017 should be a transformative year (CORP) | Proteome Sciences* (PRM): FY 2016 in line. Moving towards breakeven (CORP) | Fulcrum (FCRM): Significant market potential, rising margins and a strong balance sheet (BUY) | Mortgage Advice Bureau (MAB1): Strong and growing intellectual property (BUY) | 7digital* (7DIG): Open offer result (CORP)
Small Cap Breakfast
28 Mar 17
Path Investments—Publication of prospectus from the Energy Investment Company. Raising £1.4m. Admission due on or around 30 March | Franchise Brands—Schedule 1 detailing £28m reverse takeover of Metro Rod. Admission expected 11 April | Alpha FX Group— Schedule 1 from the foreign exchange provider focused on managing exchange rate risk for UK corporates that trade internationally. Fundraise TBC. Admission expected 7 April. | K3 | Capital Group—Schedule 1 from the Group of business and company sales specialists across business transfer, business brokerage and corporate finance. Admission date and fundraise details TBC. | Integumen— Schedule 1 from the personal health company developing and commercialising technology and products for the human integumentary system. Raising £2.16m at 5p. Expected market cap £8.16m. Admission expected 5 April. Tufton | Oceanic Assets– Offer extended to 9 May to enable investors to complete further due diligence.
Strong set of full-year results, comforting guidance
23 Mar 17
GVC released a solid set of full-year results. Key highlights Pro forma Net Gaming Revenue (NGR) was up 12% at constant currency, or 9% on a reported basis at €895m, in line with the February trading update. Pro forma clean EBITDA was up 26%, at €205.7m, bang in line with AV’s €206m forecasts, translating a three percentage points increase in margin added to the growth in revenue. c.69% of NGR was derived from markets either regulated (including those in the process of regulating) and/or locally taxed (68% in 2015), while 95% of the revenues were derived from GVC’s proprietary platform. Net debt stood at €131.5m or 0.6x clean EBITDA. The board proposed a second special dividend of €0.15, giving a total dividend of €0.30 per share for the year, beating market expectations. Guidance The start of 2017 seems promising as management said that daily NGR had increased by 15% (+16% cc), translating into an 18% (+19% cc) growth in sports labels’ daily NGR and a 6% (+8% cc) increase in games labels’ daily NGR. The gross win margin reached 9.5% while it should move towards the 10% mark on the long term. Regarding dividends, the group confirmed a progressive distribution policy and expects to distribute at least 50% of the group’s free cash flow, starting from 2017. Debt refinancing In the first quarter of 2017, the group issued a €320m Senior Secured Term and Revolving Facility, composed of a €250m term loan (maturity 6 years) and a €70m revolving credit facility (maturity 5 years) used to pay down the Nomura Loan in full.
N+1 Singer - Morning Song 23-03-2017
23 Mar 17
eg solutions (EGS LN) Re-focusing on sales is delivering rewards | Futura Medical (FUM LN) FY results: continued clinical, regulatory and commercial progress | Halfords Group (HFD LN) Confidence in FX mitigation grows; stay at BUY | IFG Group (IFP LN) Top line growth but earnings pressures remain | Realm Therapeutics (RLM LN) FY results in line; on track for Phase II start in 2017 | Safestyle UK (SFE LN) Another good full year performance but valuation up with events | WYG (WYG LN) Mixed conclusion to FY17, reassuring FY18 outlook
Driven by distribution
24 Mar 17
Following results earlier this month, we publish our new forecasts following the segmental consolidation of divisions, and remain cautious relative to consensus (c.2% below at the PBT level in FY18E) mainly due to our UK assumptions. We believe the valuation is relatively attractive, and Inchcape is well placed for further growth given the strength of its balance sheet as it seeks to further utilise its unique global market position.