LifeSafe - FY23 results in line with updated numbers, industrial fluid orders progressing well

Today's RNS from LIFS reflects a positive end to the year, with revenues just a touch ahead of our revised FY23E forecasts at £5.9m (forecast: £5.8m) and positive sentiment about industrial fluids. The EBITDA loss was £1.4m, inline with the forecasts which were revised downwards in November. There is no comment on cash but the company does highlight a £350k HMRC receivable, and positive trading momentum is also flagged.

Lifesafe Holdings - Continuing to uplift partner numbers, new distributor announced this morning delivers widespread Asian exposure

This morning's RNS from LIFS shows that the company is not letting up in its objective of distributing its innovative fluids via partners throughout the world. The latest in a series of partner announcements, this morning's news that LIFS is to partner with private Singapore company Lingjack opens up potential distribution of LIFS' Thermal Runaway Fluid to its new partner's client-base throughout a vast territory. Given the extensive testing which is the prelude to a partnership – typically 12-1

LifeSafe Holdings - New technologies to abet growth; unique fluids to be distributed worldwide

Following a disappointing week for LIFS shareholders recently with the announcement of curtailed numbers for FY23E, this morning's RNS is a reminder of the progress that the company has made in a very short period of time as a fluid technology business operating across Consumer, Wholesale and Industrial sectors, a market leader in its field, retains the ability to bring major new products into the commercial arena in areas characterised by high demand. This morning's announcements of two new co

Lifesafe (LIFS) - Strong growth but downgrades nonetheless as we await industrial fluid

LIFS' announcement this morning discloses strong revenue growth, with sales in the first eleven months up 62%, highlighting the attractiveness of their innovative fire products. These have made them leaders on Amazon both in the UK and in the substantial US market, where they were successfully launched early last year. However, disappointing sales from one partner, combined with enhanced competition, have caused a pull-back in sales forecasts combined with increased losses in the current year; a

LifeSafe Holdings - Good momentum, industrial distribution deal breaks new ground

LIFS' H1 results this morning reflect further strong revenue growth, with sales up 123% YoY, while the company has also inked its first major distribution deal for its industrial fluid product, a significant milestone. LIFS is the developer of innovative and patented fire solutions which are top sellers on Amazon both in the UK and in the very sizeable US market, where they were successfully launched early last year. While growing strongly, the company has also succeeded in lifting its gross mar

Lifesafe (LIFS) - Completion of £1.1m raise ahead of strong demand in Q4

LIFS' revenue expectations have repeatedly been lifted since coming to market last year and yesterday's trading update reaffirms a positive outlook for the second half of 2023. The completion of a successful fundraise is a positive development, in our view, providing the company with a solid platform from which to prepare for strong Q4 demand in a cost effective manner, while also revealing robust support from the company's shareholder base. With the company expecting to reach breakeven on a mo

LifeSafe Holdings (LIFS) – Corporate – Strong sales momentum ahead of plan in first 4 months; facility feeds further acceleration in seasonally busy H2

Today's trading update from LIFS reflects a continuation of strong revenue growth into FY2023, with sales in the first four months reported to be over 200% ahead of the prior year and 15% above internal management expectations. In response to greater than expected demand, the company has secured an additional £250,000 finance facility as a proactive measure to allow for further investment in working capital. LIFS, an innovative developer of fire safety products, has seen an exceptional level of

LifeSafe Holdings - Reporting strong maiden results and a major new product

Today's FY results from LIFS reveal the very rapid growth of the company in 2022, generating a sixfold revenue increase YoY, a significantly improved gross margin, and with £1m-plus of cash retained on the balance sheet following last year's IPO. LIFS is the developer of novel, patented solutions, which, as UK top sellers on Amazon Prime and equally successfully launched in the very sizeable US market in February 2022, have the capability significantly to enhance fire safety in the home. Geogra

LifeSafe Holdings (LIFS) – Corporate – New financing to facilitate strong sales growth in US

This morning's announcement from LIFS is the latest in a string of updates from the company reporting stronger than expected growth, with particularly strong sales in its key US market. With sales running ahead of expectations, the group has entered into a £250,000 finance facility to manage working capital requirements, enabling the company to maintain inventory levels in the face of rising demand. The facility, which is currently undrawn, is utilisable over an initial term of six months, with

LifeSafe Holdings - Strong demand for highly effective safety product

On the front foot since its July ‘22 AIM listing, LIFS' encouraging update recently, following on from positive H1 results, prompts us to upgrade forecasts again today. The company is the developer of novel, patented solutions, which, as UK top-sellers on Amazon Prime and also successful in the key US market, may well mark the first major breakthrough for fire safety in the home for many decades. LIFS' “5-in1” product is able to extinguish a wide variety of fires (petrol/diesel, cookin

LifeSafe Holdings - Full year trading update: FY22 revenue ahead of expectations

This morning's trading update from LIFS, reporting FY22 revenue significantly ahead of recently upgraded expectations at £3.9m (WHI est. £3.65m), reflects strong trading over the Christmas period for the company's innovative range of fire safety products. From just £0.7m of revenue in FY21, >5x revenue growth in FY22 has been driven by strong demand for LIFS' innovative “5-in-1” product in consumer channels, both over Amazon and the company's own website, with particularly strong growth in the

WH Ireland: LifeSafe Holdings (LIFS) - Launch of lithium extinguishing fluid; patent applications filed

This morning's announcement from LIFS represents a key milestone in the commercialisation of the company's new lithium battery fire extinguishing fluid, with the company reporting the public launch of their product on a dedicated website for the industrial market and the filing of UK and international patent applications for the proprietary fluid. The product, which aims to provide an effective solution to thermal runaway in lithium-ion batteries, is well positioned to benefit from the exponenti

WH Ireland: LifeSafe (LIFS) - Strong demand drives revenue ahead of expectation

This morning's encouraging update from LIFS reveals the full extent of the demand momentum the company is seeing, with H2 sales nearly double H1, and a meaningful beat to our FY22E £3.0m forecast – to potentially as much as £3.8m (+27% above our forecast and 443% ahead YoY). LIFS is a developer of highly innovative fire safety solutions which provide a significant breakthrough for fire safety in the home and beyond. While all areas are doing, well, we find it particularly encouraging that the

WH Ireland: LifeSafe (LIFS) - H1 results demonstrate strong demand for attractive safety product

This morning's H1 results reflect the strong momentum of LifeSafe's business, three months on from the IPO. Sales of £1.3m are close to double FY21A as well as being ahead of the £1.2m indicative position highlighted in LIFS' August 16th update. A major patent award is a significant technology affirmation and the company's new li-ion battery fire extinguishing fluid has been demonstrated widely to industry leaders, with promising prospects in the industrial market sector. LIFS is a developer

LIBERUM: Plus500: Strategic progress pays dividends

Tatton Asset Management (TAM LN) - Record net inflows

Tatton, the leading on-platform discretionary fund manager (DFM) and IFA support services Group has released a trading update ahead of its results to 31 March 2024, due on 18 June 2024.

Hardman & Co Insight: 2023 was an annus horribilis for Quoted UK Infrastructure and Renewable Energy

The focus of Hardman & Co Research is on the nine quoted Infrastructure Investment Companies (IICs) and on the 22 Renewable Energy Infrastructure Funds (REIFs): the stocks analysed are all members of the Association of Investment Companies (AIC). We are updating our publication of January 2023, assessing both the lacklustre share price performances during 2023 and the key issues, including interest rates, inflation and power prices. As a 31-strong group, its combined market capitalisation is no

Ondo InsurTech FY24 Trading Update

Ondo InsurTech has released a brief post-YE update revealing its good progress continued through 2H24 and consequently FY24 will be in line with market expectations.

BlackRock World Mining

BRWM’s managers: we see all the classic signs of high commodity prices...

NextEnergy Solar Fund - Attractive Refinancing

The refinancing of a £135m revolving credit facility and the extension of a similar £70m facility gives NESF firepower as development opportunities for new solar are especially attractive thanks to lower module prices in Europe. They give the fund key financial flexibility at a critical time as it pursues its capital recycling programme.

Morning Note – 18 April 2024

The Hardman & Co Monthly: April 2024

Feature article: Steady as she goes, but could be better: A review of investment company liquidity since 2016 Liquidity is the lifeblood of equity markets. The measurement of liquid asset availability to a market or company is a way of gauging a market’s health. This article builds on our previous work, which analysed the liquidity data for non-financial trading companies, by applying the same analytical techniques to the investment companies (IC) space. We analyse liquidity for ICs as a whol

Foxtons Group (FOXT LN) - 1Q24 IMS shows real momentum

Foxtons Group plc first quarter revenue rose 9% to £35.7m (1Q23: £32.9m) with growth delivered across all business segments. Trading is in line with management's expectations.

Initial Equity Trading Comments - 19 February 2024

M Winkworth+ (WINK, House Stock at 163p) - Solid FY23A results, well placed to grow

Foxtons Group - FY24 underpinned by market share gains

Foxtons Group’s Q1 revenue grew by 9%, supported by growth in all three divisions as the strategic initiatives continue to gain significant momentum, driven by investment in staff, best-in-class bespoke IT and data platforms. This implies that Foxtons’ medium-term targets are now coming into focus. Market share is being gained in all divisions, which puts Foxtons in a good position as the sales market stabilises. We maintain our valuation of 132p/share and believe that if interest rates stabilis

Resilient FY24, confident long-term outlook

Vp’s full year update highlights sector-leading results, once again benefiting from the diversity of its end markets and the quality of its specialist businesses. With results expected to be broadly in line with expectations, we trim our FY24 PBT forecast by c.5% to £39.0m, a shade below the FY23 outturn (£40.2m). We consider this an impressively resilient performance set against a mixed market backdrop. Under new leadership, a strategic refresh is underway and management is confident in long

Hybridan Small Cap Feast - 16/04/2024

16th April 2024 * A corporate client of Hybridan LLP ** Arranged by type of listing and date of announcement *** Alphabetically arranged **** Potential means Intention to Float (ITF) has been announced Dish of the day Admissions: Delistings: What’s baking in the oven? ** Potential**** Initial Public Offerings: Reverse Takeovers: Electric Guitar (ELEG.L) Concurrent with its Admission to trading on AIM, Electric Guitar is proposing to acquire the entire issued share capital of 3radical Limited for

AUM up 30% in FY24, record flows, forecasts raised

AUM jumped £3.8bn or +30% in FY24, reaching £16.6bn on 31 Mar 24, 12% above our previous forecast of £14.7bn. Including 50%-owned 8AM Global, Assets Under Influence hit £17.6bn. Investment performance provided a tailwind, adding £1.5bn to AUM. But our key takeaway from Tatton’s hugely impressive last few years, is that it has designed and implemented a superior offering in platform-MPS with net flows consistently far higher than peers. That leadership looks even more pronounced in H2-24 with net