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  • 14 Sep 23
Hybridan Small Cap Feast - 14 September 23

14th September 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment ob

Companies: PMP MKA KEYS CUSN CUSN CHH AREC LUPGF

Hybridan
  • 22 Jun 22
Hybridan Small Cap Feast 22/06/2022

Dish of the day Joiners: No Joiners Today. Leavers: No Leavers Today. What’s cooking in the IPO kitchen? Visum Technologies seeking admission to The AQSE Growth Market. The Company's business is to own and operate an "on-ride" video and photographic camera system that it sells and/or licenses to customers (being theme parks, ride manufacturers, souvenir imaging providers, and other leisure operators). Due 30 June. LifeSafe Holdings, a fire safety technology business with innovative fire safety p

Companies: SKL BMT CHH IQE LTG TRR JADE EEE

Hybridan
  • 06 Jul 21
Small Cap Feast: 06/07/21

What’s cooking in the IPO kitchen? Bridgepoint Group to float on the Premium Segment of the Main Market. Bridgepoint is the leader in middle market investing, with a global reach that leverages its strong pan-European footprint and Bridgepoint's ability to deploy meaningful amounts of client capital across several well established strategies. Raising £300m. Timing TBA. HydrogenOne Capital Growth to IPO on the Premium Segment of the Main Market. HGEN is targeting a raise of £250m. First London

Companies: OMI CHH BIRD MUL QBT DEST HDD DDDD CMCL

Hybridan
  • 05 Jul 19
Small Cap Feast

ReAssure Group plc - The Group is a leading closed book life insurance consolidator in the United Kingdom with 4.3m policies, £68.7 billion of assets under administration on a Post-L&G Illustrative Basis. It is considering a premium listing segment of the main market. Voyager AIR The Company will focus on the acquisition, leasing and management of primarily widebody aircraft, with asset management services to be provided by Amedeo Limited he IPO will comprise a Placing and Offer for Subscriptio

Companies: ECO CHH DRV SRT AQX MIRA VELA CREO ARCM

Hybridan
  • 05 Jul 19
Strong H1 update helps drive further upgrades

Churchill China has had another strong trading period and this is articulated in today’s H1 trading update. The business continued to sustain good export momentum, led by Europe, whilst UK Hospitality also moved forward despite Brexit uncertainty. We are lifting our 3 year EPS forecasts by 3.5%-4.0% this morning and see the risk on the upside as the year progresses. The shares currently trade on a 2019 P/E of 20x falling to 18x. On a 12m view we see fair value >1850p (22.5x FY20 P/E). Overall, t

Companies: Churchill China plc

Singer Capital Markets
  • 17 May 19
Small Cap Feast

Essensys plc—a provider of mission-critical SaaS platforms and on-demand cloud services to the high growth flexible workspace industry, plans to join AIM. Offer TBC, expected 29 May 2019. Induction Healthcare Group plc—a healthcare technology company focused on streamlining the delivery of care by Healthcare Professionals looking to join AIM. Expected raise of £14.58m at 115p, market cap of £34.07m. Expected 22 May 2019. SDX Energy plc—a North Africa focused oil and gas company, announces its in

Companies: CHH FFHHF AGM ACT SCHO SHED POW OSI

Hybridan
  • 17 May 19
AGM signals good trading momentum across the business

The company has today released a positive AGM update, signalling a good start to the year and further progress against strategic objectives. There is also favourable commentary around the recent Dudson transaction. In short, the general reassurance offered this morning reinforces the fact that Churchill has a different market and strategic positioning vs peer Portmeirion, which recently warned. Given it is difficult to second guess to what extent the strong start to the year reflects an element

Companies: Churchill China plc

Singer Capital Markets
  • 27 Mar 19
A further serving of premium growth and strategic progress

Churchill has delivered an excellent outcome for 2018 of 24% PBT growth on 7% top-line progress. This implies a 4% beat at the PBT level vs our forecast. Strategically, last year once again demonstrated that management continue to deliver on the twin objectives of export sales growth and augmenting the mix towards added-value products. Momentum going into 2019 is strong and the company is on the front foot re Brexit planning. We push through EPS upgrades of 3-4% and see fair value at 1450p. We r

Companies: Churchill China plc

Singer Capital Markets
  • 07 Jan 19
Strong H2 outcome prompts upgrades

A short and sweet but positive YE trading update from Churchill China this morning. The strong double-digit export sales momentum of H1 continued into H2 and UK performed in line with expectation of positive sales growth in H2. Net, management is guiding to a full year outcome ahead of market expectations. We upgrade our FY18 PBT by a meaningful 7% and outer years by 3%. Going into FY19 the business is geographically well diversified and investing appropriately to support further progress. An FY

Companies: Churchill China plc

Singer Capital Markets
  • 31 Aug 18
Most popular equity research this week | 27 - 31 Aug

See what's trending this week...

Companies: WJACHHIGRAFHPTRINWJGFFHHFBKSMYSL

Research Tree
  • 30 Aug 18
Morning Song

Churchill China (CHH LN) Continuing to dish out premium growth | IFG Group (IFP LN) Operational progress, but still no clarity on HMRC investigation | Xaar (XAR LN) Trading below expectations; reviewing partnering options for printheads

Companies: XAR CHH IFP

Singer Capital Markets
  • 30 Aug 18
Continuing to dish out premium growth

Churchill has reported an excellent set of interims, delivering 22% PBT growth vs a stiff 31% comp. Key tenets of this growth were geographical diversity and continued sales momentum of value-added products. Looking forward, the business is trading well, investing appropriately, strengthening the international platform and, in our view, European growth should continue to prosper under either Brexit scenario. We further nudge up our 3 year EPS forecasts by 1-4% and argue for fair value towards 12

Companies: Churchill China plc

Singer Capital Markets
  • 04 Jul 18
Morning Song

Churchill China (CHH LN) Positive H1 update supports upgrades | Gresham Technologies (GHT LN) H1 trading update + earnings-enhancing acquisition

Companies: Churchill China plc (CHH:LON)Gresham Technologies plc (GHT:LON)

Singer Capital Markets
  • 24 May 18
Strong performance from quality – 11 focus stocks

We have refreshed our quality style screen for the second time and report on style performance since the last refresh in October. Performance has been very strong, outperforming the small-cap index by c.1600bps (weighted basis) and c.1000bps (unweighted). There has been volatility with the market and this style has yet to be tested in a concerted down market, but in a flat or rising market quality appears to be a successful investment style in small-caps. We have highlighted 11 focus stocks in t

Companies: CHH ZYT LIO GHT AFRN DOTD GTLY TAM PMI FCRM

Singer Capital Markets
  • 17 May 18
Revisiting the investment case

We see Churchill as a highly attractive long-term growth story. Its international dimension, NPD credentials and multi-channel customer strategy should continue to give it greater avenues for growth and investment. In this note we lay out the case for investing in this reliable small-cap stock. The company has today released a positive AGM update, highlighting a good start to the year and further progress against strategic objectives. It is too early in the year to be adjusting numbers but we fe

Companies: Churchill China plc

Singer Capital Markets

Churchill China plc

Company Profile

Research, Charts & Company Announcements

Research Tree provides access to ongoing research coverage, media content and regulatory news on Churchill China plc. We currently have 91 research reports from 5 professional analysts.

  • Open: 1175p
  • Range Today: 1150/1200p
  • 52 Week: 947/1616p
  • Daily Volume: 15.2k
  • Daily Liquidity: 0.14%
  • # Shares: 11.0m
  • Market Cap: £129.2m
  • Latest PE (hist): 16.74
  • Div Yield:

Latest News/RNS

(more news)
Date Source Announcement
16Apr24 09:46 RNS Churchill China PLC - Director/PDMR Shareholding
10Apr24 07:00 RNS Churchill China PLC - Final Results
27Mar24 09:30 RNS Churchill China PLC - Notification of Final Results
30Jan24 16:41 RNS Churchill China PLC - Notification of Major Holdings
30Jan24 12:18 RNS Churchill China PLC - Notification of Major Holdings
17Jan24 07:00 RNS Churchill China PLC - Full Year Trading Update
16Jan24 15:00 RNS Churchill China PLC - Appointment of Non-Executive Director
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  • 23 Apr 24
PROGRESSIVE: Watkin Jones: H1 in-line amid reviving investor appetite

Watkin Jones’s guidance for FY24E is unchanged in its trading update for the first half to 31 March. We maintain our forecasts for the full year and introduce half-year estimates, in line with reiterated guidance that performance will be significantly H2 weighted. The group confirms a continuing gradual recovery in appetite among institutional investors to forward fund its build-to-rent (BTR) and student developments. We believe this should gather pace as the direction of interest rates becomes

Companies: Watkin Jones Plc

Progressive Equity Research
  • 22 Apr 24
Ceres Power Holdings - Strategic partnerships powering growth

Ceres Power Holdings’ innovative technology uses electrolysis to produce green hydrogen and solid oxide fuel cells to generate power. In a year where it moved to the Main Market of the London Stock Exchange, it recorded revenue growth of 13% and gross margin expansion to 61% (the highest in the sector, according to management), but is yet to record an operating profit (FY23 operating loss of £59.4m versus £54.0m in FY22). Ceres continued its strategy to drive innovation and technology across sol

Companies: Ceres Power Holdings plc

Edison
  • 24 Apr 24
PROGRESSIVE: Sanderson Design Group: Strategic growth drivers show their value in challenging trading conditions

Sanderson Design Group (SDG) has announced its FY24 full-year results, which are in line with the headline figures from its February trading update. A record year for Licensing and a strong performance in the key North America market helped to offset a challenging consumer environment in other geographies, most notably the UK. While this backdrop is set to persist in FY25E, the group will continue to focus on its strategic growth drivers, notably North America and Licensing, to deliver sharehold

Companies: Sanderson Design Group PLC

Progressive Equity Research
  • 28 Sep 22
Surface Transforms - Fund raise for the profitable growth phase

SCE is raising £16m through a placing (and up to a further £3m through open offer) to fund substantial expansion and additional working capital. This will enable the Group to grow to £75m revenue capacity in the near term, commence the build and equipping of a new factory and then (with internally generated free cash flow) scale to £150m revenue capacity and beyond. With a contracted order book of £190m and a prospective pipeline of £400m, this is clearly the time to seize the opportunity. The e

Companies: Surface Transforms PLC

Cavendish
  • 02 Apr 24
Solid State - Anticipating record adjusted PBT in FY24

Solid State’s trading update affirms the sustained strength in demand throughout H224, resulting in record FY24 revenue and adjusted PBT ahead of prior consensus of £155m and £12.5m, respectively. This is attributable to the earlier-than-expected delivery of a NATO contract. As a result, consensus FY24 revenue and adjusted PBT estimates have been raised by c 6% and c 20%, with respective FY25 estimates declining commensurately.

Companies: Solid State plc

Edison
  • 04 Jan 24
Zeus: Video Games Sector Quarterly review - January 2024

Subsector price performance: In the fourth quarter to 29 December 2023 all but the AAA publishers and platform subsector saw share price declines. The UK PC and Console focused subsector was again the worst performing subsector (-26.2%) over the quarter and LTM (-70.1%).

Companies: TBLD FDEV DEVO

Zeus Capital
  • 17 Apr 24
Surface Transforms - New guidance – forecasts under review

Surface Transforms has issued new revenue guidance for FY24, with the company now expecting revenues in the range £17.5-22m. We are withdrawing our previous forecasts for FY24 and withdrawing our price target while we review the impact of the new guidance.

Companies: Surface Transforms PLC

Cavendish
  • 08 Jan 24
Zeus Top Picks for 2024 - 2023 review and outlook for 2024

On 9 January last year, we set out our ten top stock picks for 2023, for what turned out to be another relatively poor twelve months for UK equities due to two wars, stubbornly high inflation and further tightening of monetary policy. This was even as other major markets, such as the US, largely recovered in the year. In the 2023 calendar year, the AIM All-Share index fell 8.2% and is still 42% off its 2021 high. From the release of our 2023 top picks note, the average total return (assuming div

Companies: PTAL GHH IGP MSLH PINE NXQ EQLS NXR AXL

Zeus Capital
  • 05 Apr 24
Gooch & Housego (GHH LN) - A chink of light

Gooch has issued a positive update for H1. Trading has started to recover with stocking levels normalising at industrial and medical devices customers. The outlook is positive with growth returning, and management has confirmed our full year estimates (adjusted for the disposal of EM4). The order book and order flow appear healthy, and net debt is comfortable. Gooch clearly still has plenty to do to lift operating margins from a lacklustre 8.1%, but the transformation plan appears to be back on

Companies: Gooch & Housego PLC

Zeus Capital
  • 19 Apr 24
AKA: Initiating Coverage of a.k.a. Brands with Buy and $14 PT: Upside Ahead

We are initiating coverage of a.k.a. Brands Holding Corp. ("a.k.a. Brands" or the "company"), a leading owner of primarily online apparel-based brands focused on Generation Z and Millennial consumers, with a Buy rating and $14.00 price target, or 10.9X our 2025 EBITDA projection of $20.2 million. The company's brands include: 1) Princess Polly, focusing on 15 to 25 year-old women; 2) Petal & Pup, which offers feminine styles for 25 to 34 year-old women; 3) Culture Kings, a street wear destinatio

Companies: GPS URBN ITX AEO AEO GES GES ITX GPS ANF 0R32 URBN

Small Cap Consumer Research LLC
  • 14 Mar 24
Hybridan Small Cap Feast - 14 Mar 2024

Banquet Buffet*** Abingdon Health 9.25p £11.3m (ABDX.L) The lateral flow contract development and manufacturing organisation announces its unaudited interim results for the six months ended 31 December 2023. Revenue increased 117% to £2.4m (H1 2023: £1.1m). The Adjusted EBITDA loss decreased 47% to £1.2m (H1 2023: £2.2m). Furthermore, reduction in operating loss of 50% to £1.2m (H1 2023: £2.4m). The Board therefore expects that H2 2024 revenue will be significantly improved compared with H1 2024

Companies: CPX SLP FA/ FIPP ECR ETP ORCA

Hybridan
  • 04 Dec 23
AFC Energy (AFC LN) - First modular ammonia cracker system

AFC has unveiled a groundbreaking modular ammonia cracker system demonstrating viable and scaleable production of hydrogen in the UK using this method. The cracker system is designed to deliver 140 tonnes of fuel cell grade hydrogen each year. Hydrogen from the plant will initially be targeted for sale into AFC’s UK H-Power Generator deployments, including those with Speedy Hydrogen Solutions. Along with the recent purchase of the mobile storage and distribution assets of Octopus Hydrogen, AFC c

Companies: AFC Energy plc

Zeus Capital
  • 27 Apr 23
PROGRESSIVE: Sanderson Design Group: Delivering to strategy against an unhelpful global backdrop

Sanderson Design Group (SDG) continues to deliver on its key strategic initiatives and growth drivers despite a challenging global backdrop. The group’s FY23 performance showed flat revenue, with adjusted underlying PBT rising £0.1m to £12.6m. Net cash dropped back to £15.4m, with the total dividend maintained at 3.5p. The star performers were Licensing (reported revenue +25%), the Morris & Co brand (+16%) and the US market (+20%). Our forecast revisions assume more modest sales progression, wit

Companies: Sanderson Design Group PLC

Progressive Equity Research
  • 26 Mar 24
AFC Energy (AFC LN) - FY23a and outlook: good progress

AFC has made strong progress with products and its manufacturing strategy. Despite heavy investment, the cash position, at £27.4m, was slightly better than our estimate for £26.9m, demonstrating good discipline. The monthly cash burn rate (at c. £1.3m) is tracking in-line with our expectations. Generally, we maintain our estimates for significantly increased sales in FY24e and FY25e, with the cash position unchanged. Recent news on commercial progress has been positive. The 30kW H-Power Generato

Companies: AFC Energy plc

Zeus Capital
  • 08 Feb 24
PROGRESSIVE: Sanderson Design Group: Strategic growth pillars bolster results

Sanderson Design Group has delivered its full-year trading update to 31 January 2024. Group revenue has eased back 3.1% to £108.5m on a reported basis, following the 2% decline in H1. The strongest performances were delivered by the strategic growth cornerstones of Licensing and North America, offset by challenging market conditions in the UK, Europe and the Rest of the World. A strong balance sheet saw year-end cash rise to £16.2m, compared with £15.4m at year-end FY23. Having traded in line wi

Companies: Sanderson Design Group PLC

Progressive Equity Research