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Companies: KBT LPA SCE TWD
Trackwise Designs has developed a proprietary, proven technology, IHT, for manufacturing extremely long, flexible circuits that can replace conventional wiring harnesses. This disruptive technology is applicable to many industries including electric vehicles (EVs), medical devices and aerospace. Since listing in July 2018, Trackwise has invested substantially in capacity, acquiring Stevenage Circuits in March 2020 and a new site in Stonehouse in April 2021. The new site is scheduled to commence
Companies: Trackwise Designs Plc
Trackwise Designs has announced a fund-raising programme that will raise up to £7.0m (gross) at 80p/share to help provide the working capital needed to support a previously announced order for improved harness technology (IHT) worth up to £54m from a UK electric vehicle (EV) manufacturer. Management notes that FY21 group revenues are expected to be approximately £8.0m because of weaker demand for its advanced printed circuits boards (PCBs) so we have downgraded our FY21 and FY22 EBITDA estimates
Companies: BOOM EOG SCE TWD
The group has announced that it has raised £6.0m, via a placing at a price of 80p issuing 7.5m new shares. This represents a FY22 EV/EBITDA of 5.3x and a P/E of 16x. The placing will fund additional capex plans as well as growth capital as the group kits out and scales up its new high volume, low mix, roll-to-roll IHT production facility. Some supply chain delays and higher prices have affected equipment deliveries. The group has received its first purchase order from its large OEM customer for
As flagged in its July trading update, Trackwise Designs’ H121 group revenues increased by 71% y-o-y to £4.1m, reflecting the acquisition of Stevenage Circuits in March 2020 and a doubling of IHT revenues, while adjusted EBITDA quadrupled to £0.5m. Management notes the group remains on track to meet market FY21 expectations despite supply chain disruption, so we leave our FY21 and FY22 estimates broadly unchanged.
Companies: DSCV ELCO IGP TWD
Interim results show strong operational progress and commercial traction, with the scale up of operations progressing and the kit-out of the new Stonehouse site still on track for completion in early 2022, in time for the scheduled production ramp up for its EV customer. The outlook comment points to some continuing pandemic-related supply chain delays and inflation, but nevertheless it remains on track to meet FY expectations. No change to forecasts. We believe the next year will see a major tr
Trackwise Designs expects H121 group revenues to increase 71% year-on-year to £4.1m, reflecting the acquisition of Stevenage Circuits (SCL) in March 2020 and a 130% jump in IHT revenues to £0.6m. Management expects adjusted EBITDA to quadruple to £0.45m and adjusted operating loss to narrow from £0.4m to £0.1m. We leave our estimates unchanged.
Companies: DSCV ELCO EOG IOG QXT SRT TWD
The trading update confirms H2 trading and the FY outlook is in line with expectations, with a good first-half performance and significant investment in new facilities and capabilities. Revenue growth was constrained by continuing pandemic, supply chain and Brexit effects, though with some recent signs of improvement. IHT opportunities are progressing well, including with its EV OEM, with APCBs seeing solid growth but with an increase in demand and order book, it plans to introduce a second shif
Trackwise Designs’ FY20 results show a resilient response to the pandemic while management expanded IHT capacity to meet the requirements of a multi-million order from an undisclosed UK electric vehicle (EV) OEM. This OEM has recently extended its supply and manufacture agreement with Trackwise from three years to four, increasing the total value by £16m to up to £54m. We note that the volume ramp-up under this agreement has been delayed by a quarter to H122, so we have revised our FY21 estimate
Companies: FEN TRI TWD
Research Tree provides access to ongoing research coverage, media content and regulatory news on Trackwise Designs Plc.
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• Financial performance: Group revenue of £1,982.8m is +13.6% YOY and +41.3% versus FY20, representing significant market share gains versus global apparel markets that remain below pre-pandemic levels (UK: +27.3% versus market -3%, US +3.8% versus market -9%). The UK delivered a standout performance +27.3% YOY with strong growth across both established and new brands. Demand in international markets has been impacted by extended delivery times due to constrained airfreight capacity, a headwind
Companies: boohoo group Plc
H1 results confirm a strong recovery in store sales and a bounce back in profitability, benefitting from 26 weeks of uninterrupted trading. The Group is now debt free and has reinstated its dividend, with an interim distribution of 2.5p declared and scope for further special dividends and share buybacks.
Companies: Shoe Zone PLC
Companies: Made.com Group PLC
Zytronic’s interims confirm a continuing improvement in demand, driven by the Gaming and Vending sectors. This has driven a 24% increase in H1 revenue and a profitable outturn (PBT of £0.4m), on track for our full year forecast (SCMe: £1.0m) despite ongoing and well publicised supply chain challenges. Longer term recovery potential remains substantial and the Group is in excellent financial shape (net cash £7.5m post recent share buy-back programme).
Companies: Zytronic plc
Good H1 figures and the turnaround plan on track make the risk/reward tilt upwards given the recent underperformance against BAT. However, we continue to believe that IMB’s combustible focus strategy is not the right one and we see much more positive catalysts when looking at BAT.
Companies: Imperial Brands PLC
Feature article: Latest ONS survey: steady as she goes…and ignore retail investors at your peril
The ONS (Office for National Statistics) has been charting the beneficial ownership of UK-quoted companies periodically since the early 1960s. The latest paper was published in March 2022, and considers the data for December 2020.
At December 2020, “Rest of the World” investors owned 56.3% of the market, a further growth since the last survey, while UK institutions’ ownership edged up to 31.6%.
Companies: VTA TRX SCE STX AVO ARBB PANR RECI PCA OCI IBT ICGT FAS FCSS FEV FJV FSV DNL CLIG BBGI
Companies: Accrol Group Holdings plc
e client of Hybridan LLP
Dish of the day
BSF Enterprise. Following the successful reverse takeover of 3D Bio-Tissues Limited, a tissue engineering business based in Newcastle, UK, the Company announces admission of the enlarged group to the standard segment of the Official List and initiation of trading on the Main Market under the ticker ' BSFA '. The Admission follows a placing which raised £1.75m at a placing price of 7.37 pence per share.
No Leavers Today.
What’s cooking in
Companies: VANL TYM ACSO CCS FNTL SOLI TRAC ECK KIBO OSI
Today’s AGM update highlights a satisfactory start to the year. Against a worsening consumer backdrop and further supply chain disruption sales are up 2% and gross margin has nudged up. This reflects favourably on management and the strategy reset. With 80% of profits generated in H2 we leave our forecasts unchanged for now but clearly much will depend on the state of consumer demand in the months ahead. We expect to get better clarity with the H1 update in July but equally, geographic diversity
Companies: Portmeirion Group PLC
Accrol has delivered a robust trading update despite clear inflationary pressures on the business during the period. As a result, we are increasing our FY23 and FY24 revenue forecasts to reflect higher levels of activity and product inflation. Our headline earnings numbers remain unchanged following this update, albeit with growing confidence in FY23. We believe the shares look undervalued in what remains a strategically important player in the industry.
Residential-for-rent developer and manager Watkin Jones has confirmed it
is on track to meet FY2022E expectations of rising profits in today’s interim
results, which showed an 8% rise in revenue and a temporary decline in
adjusted PBT, reflecting previously signalled timing and mix of sales. We are
maintaining our estimates for FY2022E-23E, which show 21% compound
growth in PBT. Longer term, we expect further growth fuelled by increasing
demand for rental property from tenants and internat
Companies: Watkin Jones Plc
FY21A Results were well flagged in November’s trading update. Today’s announcement reveals the Group is now debt free and reiterates its intention to return to the dividend list in the current period. Shoe Zone has a clear and well-defined plan to transform its store portfolio and grow its digital offer through its shoehub platform, which we believe will deliver a well-balanced retail model that can win market share and drive profitable growth.
Companies: Frontier Developments Plc
RC365 Holding has joined the Main Market (Standard). Founded in Hong Kong in 2013, the Group is a fintech solutions service provider in China and Hong Kong, and is looking to expand its payment gateway services into Europe and the UK. In connection with Admission, the Company successfully raised approx. £2m for the Group at a price of 6.2p per ordinary share. At the Issue Price, the Company's market capitalisation will be approx. £6.7m.
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What’s cooking in the I
Companies: WAND ABDP CRPR PEN QTX RWS
Companies: GHH IGP IOM KBT QXT SRT