Small Cap Feast

Techniplas –global producer and support services company providing highly engineered and technically complex components, making the supply chain to original equipment manufacturers more efficient. FYDec17 rev $515m. Diaceutics, a data analytics and implementation services company which services the global pharmaceutical industry, is looking to join AIM late March, offer TBC.

Small Cap Feast

Techniplas –global producer and support services company providing highly engineered and technically complex components, making the supply chain to original equipment manufacturers more efficient. FYDec17 rev $515m. Circassia Pharma (CIR.L) - specialty pharmaceutical company focused on respiratory disease transferring from the Main Market. No funds being raised. Due 4 Feb. Greenfields Petroleum (TSX-V:GNF) production focused company with operated assets in Azerbaijan seeking AIM dual li

Small Cap Breakfast

Block Energy— UK based oil exploration and production company whose main country of operation is the Republic of Georgia. Raising £4m. Mkt cap £9.3m. Due early June. Codemasters Group— video game developer and publisher, specialising in high quality racing games. Offer TBA. Seeking £15m in primary. Due 1 June. Strongbow Exploration (TSX:SBW) intends to dual list on AIM. Holds rights to the South Crofty underground tin mine, a former producing tin mine located in the towns of Pool and Camborne,

Small Cap Brunch

Kore Potash— advanced stage mineral exploration and development company whose primary asset is its interest in the Sintoukola Project, a potash project located in the Republic of Congo. ) Measured, Indicated and Inferred Mineral Resource of 5,953Mt at an average grade of 22.0% KCl. Offer raising $13.14m with market cap of £56.4m. Due 29 March. Perfomatrix PLC, a global end to end Performance Marketing technology and services company headquartered in the UK, is looking to join AIM in early April

Small Cap Breakfast

CIP Merchant Capital—Closed ended investment Company. Sector focus oil & gas, healthcare, pharma, and real estate. Raising £55m. Due late Dec | Eqtec—Company with access to a proprietary advanced gasification technology used in industrial size power plants to convert waste into synthetic gas to generate electricity. Raising £1.6m. Mkt Cap £8.7m. Due late Dec. | Volex VLX.L—The global provider of cable assemblies is proposing to move from the main market to AIM on 19 January. £75m market cap. FYM

Small Cap Breakfast

Belluscura— Provider of premium medical devices at value prices to address part of the global unmet need for affordable, premium quality medical devices. Raising £7.5m to £10m. Offer TBA. Due early Dec Ten Lifestyle Hldgs - Technology-enabled lifestyle and travel platform providing trusted concierge services to the world's wealthy. Net revenue increased from £20m in the year ended 31 August 2015 to £33m in the year ended 31 August 2017, a compound annual growth rate of 29%. Offer TBA, expected

Small Cap Breakfast

Totally (TLY) - Sch 1 for £11m RTO of Vocare, a provider of integrated urgent care services to the NHS throughout the UK. £76.8 million rev in the year ended 31 March 2017. Totally to address Care Quality Commission concerns. Due 24 Oct. Central Asia Metals (CAML) -RTO of Lynx Resources. Anticipated market capitalisation at Admission: £404.8m. Raising £113m at 230p. Acquiring the SASA zinc-lead mine in Macedonia from Solway Industries. Due 15 Dec. Alpha Financial Markets Consulting— Global pro

AIM Breakfast

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)

Strix (KETL LN) - Strong H1 with net debt ahead of plan but macro influences building

Interim results show a strong operational performance and good progress in reducing leverage ahead of schedule in the first half of FY24. All three divisions showed gross margin progression leading to the Group margin increasing 310bps AER (+320bps CER) to 39.9%. This resulted in operating profit increasing 7.6% AER (+9.2% CER) and pre-tax profit up 13.0% (+15.9% CER) to £8.0m. Importantly the Kettle Control division has seen recovery in Regulated and Less Regulated markets resulting in division

Billington Holdings - Interim results: FY24 EPS upgraded by 9.4%

The group has posted a resilient performance against strong comparables and a challenging market. There is increased optimism on H2 deliveries, with a return of activity in distribution warehouse and film studio projects adding to its active flow of projects in data centres and Energy from Waste projects. The group continues to increase market share and a strong level of order intake and record order book at 30 June gives rise to greater visibility to improved H2 deliveries; as such, it flags FY

Morning Note – 17 September 2024

Deleveraging picks up steam

Today’s interim results to June demonstrated strong progress overall, particularly at the margin level. Double digit growth in the regulated and less regulated kettle control markets was encouraging. Furthermore, the restructuring of the Consumer Goods division and the exit from price sensitive kettle control markets also underpinned the rise in margins. Indebtedness declined markedly, reflecting a combination of firm controls in place, positive cash flow and the placing of 5% of the shares duri

Mpac Group+ (MPAC, House Stock at 430p) - Bolt-on: an accretive strategic boost

Judges Scientific (JDG LN) - H1 results – confidence returning

Judges Scientific is focused on acquiring and developing companies in the scientific instrument sector. As flagged at the July trading update, the group experienced a weaker first half in terms of order intake and trading, but with news flow subsequently more positive (confirmation of a coring contract for delivery in FY25E and a further earnings-accretive acquisition), confidence in the investment case is rightly returning. In terms of interim results, as previously announced, order intake decr

Morning Note – 18 September 2024

Epwin Group - Third FY24 EPS uplift this year

Epwin Group’s H124 results were robust, with management navigating inflationary pressures well. That said, we have reduced our revenue estimates reflecting the H1 performance, maintained underlying operating profit estimates and raised EPS forecasts due to the impact of the increased share buyback programme. Long-term, well-established growth trends imply that Epwin is well-placed to leverage increasing demand for its energy-efficient and low-maintenance building products. The company offers an

Supreme (SUP LN) - AGM Statement

Positive momentum, trading in-line with expectations: Today’s update confirms Supreme’s strong FY24 trading momentum, reported in July, has continued in to the first half of the current financial year and the Group remains in-line with full year expectations. The Group continues to see strong demand for its products, with its value proposition remaining highly relevant at a time when household discretionary spend remains under pressure.

Zeus Industrials Round-Up - 13 September 2024

The UK industrial sector continues to show promising signs of recovery, with manufacturing PMI reaching a 26-month high of 52.5 in August as all survey indicators but one expanded. Economic data has also been encouraging, with UK pay growth cooling to a two-year low and inflation rising only slightly in July – supporting the case for further interest rate cuts this year by the BoE.

Earnings enhancing acquisition broadens capabilities

Mpac is acquiring the entire issued share capital of Boston Conveyor & Automation, Inc., (“BCA”), a US-based supplier of robotic automation and conveyor equipment for the Food, Life Sciences and general industry sectors, for a total of US$17.0m (£12.9m). The purchase comprises US$11.0m in cash, sourced from the Group Revolving Credit Facility, plus US$6.0m from the issue of Mpac shares. The Group’s lender has agreed to increase the RCF by £5 million to £25 million, ensuring that the Group will

PANMURE LIBERUM: Commodity snapSHOT: Russia's latest threats, quantified

Seeing the Nightly Miracle first hand

Supreme Plc (SUP, House Stock at 165p) - Robust FY25F trading continues

PROGRESSIVE: Xaar- Transition gathers pace

Today’s in-line results headline with strong sales traction from new printhead products (+24%Y/Y) vs the decline in legacy Ceramics and EPS weakness. New product revenue has had a 26% CAGR since 2019, but this progress has been masked by the cyclical deterioration in the ceramics market. New products now account for 58% of H1 sales, and consequently the investment case pivots to growth and commercialising new products, as well as navigating legacy markets. The efficiency programme (Hubble) has d