Koovs has given an update on trade for the third consecutive quarter since it has been able to deploy funding raised in 2018. A 69% increase in Visits to the Koovs website and 100% increase in Gross Order Value (GOV) speak to improved fundamentals. Trading margin rose to 12% (7% 2Q 2018/19). These metrics are in line with pre-existing forecasts and are in line with this stage of the long-term plan. The company continues to report progress in its relationship with Future Lifestyle Fashions Ltd (F
African Export-Import Bank a supranational financial institution w hose purpose is to facilitate, prom ote and expand intra- and extra- African trade, of its potential intention to publish a registration document, the Bank hereby confirms its intention to proceed with an Initial Public Offering. The GDRs are expected to be admitted to the standard listing segment of the Official List of the FCA and to trading on the Main Market of the LSE.
DNEG Limited intends to apply for adm ission of its Sh
Companies: ECK KOOV PLUS BRSD GWI ORR ANIC TCM KEFI SIS
Since their privatisation in 1989, the 10 water companies have faced a periodic review every five years; it is undertaken by Ofwat, and prescribes customer prices, along with the investment requirements. As part of the ongoing review, PR19, Ofwat will publish its Final Determination numbers on 11 December 2019; they will apply as from April 2020, although water companies do have the option to seek a reference to the CMA.
Companies: AJB AGY ARBB CLIG DNL DPP FLTA GTLY GDR KOOV MCL MUR NSF PCA PIN PHP RE/ RECI RMDL STX SCE SIXH TON SHED VTA W7L
Koovs has announced expansion of its activities with Future Lifestyle Fashions Limited. These relate to a deeper relationship on product between the two groups. Koovs will be designing and sourcing an exclusive menswear brand – called Chelsea King – for introduction into 25 of FLFL’s Brand Factory stores this month (out of a total of 93). Additionally Koovs Private Label concessions will opened in five further Central department Stores (taking total to eight) and Koovs Private Label Menswear wil
The challenges associated with value creation drive all investors. Any investment professional is eager to make their mark by picking organisations that are able to deliver superior returns. Increasingly investors look into how organisations are governed and how effective the top decision-making bodies of organisations really are. In this white paper, we shed light on research findings and reveal the seven hallmarks of effective boards. The seven hallmarks are proven to create more effective boa
Companies: AVO AJB AGY CLIG DNL DPP FLTA GTLY GDR KOOV MUR NSF OXB PCA PHP RE/ RMDL STX SCE TRX TON SHED VTA W7L
The introduction of IFRS 2 in 2004 generated considerable debate about the best approach for handling ‘share-based payments’ (SBP). While it is clearly a cost to shareholders, which should be included in the statutory reporting lines through the P&L account, the question arose as to whetherit should be part of our underlying EBIT calculation.
Companies: AVO AJB AGY ARBB CLIG DNL DPP FLTA GTLY GDR KOOV MCL MUR NSF OXB PCA PHP RE/ REDX RMDL STX SCE TRX TON SHED VTA W7L VAL
Koovs FY/1Q results/update showed progress on both a transactional front and in terms of re-establishing the differentiation given by its branding that should underpin longer term prospects.
The important information from Koovs’ FY19 results is not the results for the year but the trading since the company secured its additional financing. With Gross Order Value (GOV) up 104% in 1Q20, Koovs is once more showing the sort of growth associated with online success. FY19 itself was a lost year, as the company conserved cash while it successfully sought new investors; they eventually arrived – not only with money but with important synergistic benefits too. The GOV data is a function of b
Koovs latest update covering 1Q 2019/20 shows good recovery from a weak comparative in-line with its own and consensus estimates. Improvement in web traffic +148% yoy, conversion (orders/visit) and trading margin (gross margin) all suggest that the initial phase of trading with the benefit of adequate funding is going according to plan. The company has stated that it is happy with current year consensus estimates which we believe are for Gross Order Value (GOV) of £22-23m and EBITDA of c£17m los
When advisers first start looking at business relief (BR) products, there is much to take in: the rules governing such products; the investment strategies being used; and what the investment risk is. It is easy to lose sight of the fact that, for non-AIM products, the investment is being made directly into a company or partnership, rather than a fund. It is, therefore, essential that governance is part of the diligence process.
Companies: AVO AJB AGY ARBB CLIG DNL DPP FLTA GTLY KOOV LWRF MCL MUR NSF OXB PCA PHP RE/ REDX RMDL STX SIXH TRX TON SHED VTA W7L VAL
Companies: AZN AVO AJB AGY ARBB CLIG DNL DPP FLTA GTLY GDR HAYD KOOV MCL MUR PCA PHP RE/ REDX STX SIXH TON SHED VTA W7L VAL
Koovs has updated on trade over the second half of the financial year. This period included roughly a quarter where its operations were running with renewed marketing support following its re-financing. We think these results are encouraging.
How small- and mid-cap quoted companies make a substantial contribution to markets, employment and tax revenues.
Companies: TIME AVO AJB ARBB CMH CLIG DPP FLTA GTLY GDR HAYD KOOV LWRF MCL MUR OXB PCA PHP RE/ STX SIXH TRX TON VTA W7L
Although the focus of Hardman & Co is predominantly on companies in the smallto mid-sized market capitalisation range, when writing research reports, it is important to position them relative to the industry in which they operate. Apart from Japanese companies, all the major global pharmaceutical companies have reported full-year results for 2018 over the past few weeks; therefore, we have taken the opportunity to update our industry database and generate the first cut of global rankings for 201
Companies: TIME AVO AJB AGY ARBB CMH CLIG CSH DNL GTLY HAYD KOOV LWRF MCL MUR NSF OXB PCA PHP RE/ REDX STX SCE SIXH TON VTA W7L VAL
In the investment world, before MiFID II, essentially every institution talked to every broker, and the whole, professional market could see every research note and the forecasts in detail. This was the ‘Age of Consensus’. Everyone had the same information (well, everyone except retail investors), and this transparency helped share price formation and liquidity
Companies: TIME AVO AJB AGY ARBB AVCT CMH CSH DNL GTLY GDR KOOV MCL OXB RE/ REDX STX SCE SIXH TRX TON VTA W7L VAL
Research Tree provides access to ongoing research coverage, media content and regulatory news on Koovs.
We currently have 38 research reports from 3
Companies: Vertu Motors PLC
Vertu has released an unscheduled trading update, delivering another earnings upgrade to 2022E, this time in excess of 30%. This is driven by the strength of the used car market, although we believe Vertu is outperforming particularly in terms of securing supply. We believe the shares remain significantly undervalued, and that it remains well placed in the sector.
Lookers has announced a fourth upgrade to 2021 forecasts following an unscheduled H1 trading update yesterday. As a result, we are lifting our current year forecast for underlying PBT by 19% from £51.2m to £60.8m. In what is expected to be an exceptionally strong period for Lookers, we expect the Group to deliver EPS of 12.5p in 2021E, close to what our previous blue-sky EPS was of 13.2p back in February. However, we assume this level of performance is not sustained going into 2022E and 2023E as
Companies: Lookers plc
What a difference a year makes - 12 months ago, the focus, quite understandably, was on the course of the pandemic and the lifting of the Lockdown (1) measures. For investors, it was the sustainability of the rally in markets seen since March 2020. Today, while we are still thinking about the lifting of lockdown measures, we are also concerned about two “old favourites” from previous decades. Inflation and the parlous state of public finances. The BoE has said that although CPI inflation rose to
Companies: AEMC BVC BAG BRSD BWNG CBOX CEG CTG CLG CML CRPR DNK EML ESC FAR FA/ GPH INSE MTW MOTR MMAG NRR NESF NMCN NSF OTMP OBD SAVE SCS STVG SNX SYS TMG TGL VLS VOG WYN
Motorpoint has provided an update on Q1 FY22 trading that reflects the unusual supply / demand dynamics currently evident in the UK automotive retail market. Record sales are reported through April and May, before a fall in new car production impacted vehicle availability and so “moderation of revenues” through June and July. Gross margins have remained ‘strong’ through the period. Online demand remains high, representing 61% of sales, whilst two new physical locations are confirmed. We leave re
Companies: Motorpoint Group Plc
Ryanair’s Q1 results were in line with the market’s expectations as a result of better-than-expected traffic and remaining low fares. Early bookings showed an encouraging uptrend and the group now projects higher FY capacity, but the pricing would remain at low levels. The FY net result is hopefully to attain breakeven.
Companies: Ryanair Holdings Plc
Netflix reported a mixed result as it managed to surpass its rather modest guidance of 1 million net subscriber additions by adding 1.54 million subscribers. The company’s revenues surpassed Wall Street expectations but there were concerns associated with the company losing nearly 430,0000 subscribers in its core North American market. Competitive pressures and the limited Originals content being rolled out in the first half of the year was responsible for this loss of subscribers. However, the
Companies: NETFLIX (NFLX:NYSE)Netflix, Inc. (NFLX:NAS)
In this note we focus on five key themes that we believe will shape the motor retail sector in the short-to-medium term. These are digital sales trends, electrification, the agency model, vehicle supply, and the economic outlook. The dealer groups have shown a great deal of resilience and flexibility throughout the Covid-19 pandemic – we expect them to continue to adapt and work closely with OEMs as the industry evolves.
Companies: INCH LOOK MMH PDG VTU
Following a challenging 2019, the COVID-19 pandemic extended the task of restoring stakeholder confidence in Lookers, one of the UK’s leading automotive retailers. With the legacy issues now largely dealt with, Lookers can address the challenges and opportunities presented by COVID-19 and the evolution of the UK car market as the adoption of electric vehicles (EVs) accelerates. The strong balance sheet supports continued investment in technology and brands and, with a leading market position, Lo
Sale of Fowler Welch
Companies: Jet2 PLC
Air Partner has reported a record H1 performance, with PBT increasing by 250% to £10.5m. This was driven by COVID-19 related work, in particular repatriation flights and transportation of PPE, which offset more challenging trading conditions elsewhere. Air Partner’s diversity has insulated it from the significant COVID-19 impact felt elsewhere in the sector. As expected, COVID related work has slowed down in H2, though there have been some early signs of improvement in Private Jets (number of Je
Companies: Air Partner plc
The final results revealed adjusted PBT up 99% year-on-year, which was 10% better than forecast despite four upgrades during the financial year. This strong performance reflects the financial benefits that have accrued following the shift in the business model to online only, as well as management’s strategic decision to significantly increase marketing spend. A second special dividend for the 2020 financial year has also been announced, reflecting the strong cash flow characteristics of the bus
Companies: Best of the Best plc
Studio Retail’s share price is the same as in mid-Feb, before the market sell-off due to the pandemic. This feels anomalous to 1) its clear online position & value orientation, where there has been a notable shift post covid, 2) capacity withdrawal + scope for share gains in its addressable markets, and 3) rating expansion among its peers. Interims next week are likely to act as a catalyst for re-rating, where there is a lot of headroom vs a c8x P/E currently.
Companies: Studio Retail Group plc
Unprecedented times over the past 12 months have seen ScS Group deliver an exceptional set of H1 2021 results, dominated by the surge in orders post Lockdown 1.0. Group revenue grew 14.4%, with an incremental gross margin, tight cost control and UK government support (£6.6m) underpinning EBITDA* of £19.5m (£3.8m in H1 2020). We believe the average net cash through the period was c£97m (c£60m excluding customer balances). H2 2021 visibility remains low, with post Lockdown 3.0 demand uncertain, th
Companies: ScS Group plc