OTAQ Trading Update

OTAQ has released a very encouraging FY Trading Update stating that it had a ‘particularly strong second half' with revenues ahead of expectations and the group returning to positive EBITDA.

Interim results

OTAQ has reported interims in line with budget, secured encouraging initial orders for its new Aquaculture products and indicates that its current order profile is for revenues of over £4m this year; this could be ‘substantially' exceeded if, depending on timing, anticipated significant shrimp sonar device orders are achieved this year.

FY22 Final Results

OTAQ has released Final Results for the 9m to December which show a small EBITDA loss and solid net cash position, and the group indicates that it is well placed to commercialise its suite of new products.

Trading Update

OTAQ has released an encouraging update for the 9m to December 2022 and indicates that the new financial year has started positively, with a healthy order book leading to Q2 trading being ahead of plan.

OTAQ Interim Results & Capital Raise

OTAQ has announced satisfactory interim results and has completed a £3.2m placing which strengthens its balance sheet and facilitates the development and commercialisation of its strong pipeline of new products.

Final results update

OTAQ has announced mixed final results that are consistent with guidance, with revenues of £4.3m and EBITDA broadly breakeven.

Interim results update

OTAQ has announced interim results to September that reflect the impact of CV19 and uncertain regulatory environment in Scotland but also highlight the medium-term opportunities for the group. The regulatory review by Marine Scotland led to some customers ending their contracts, though this was partially offset by growth in Chile and Offshore. Revenues fell -10% to £1.8m and the group reported a -£0.2m EBITDA loss. The trial programme for the group's ADDs with Marine Scotland has now concluded a

Location tracking technology order

OTAQ has announced that it has secured a contract to provide its tracking device for a prestigious annual sporting event which will be an important addition to revenues this year. OTAQ acquired ROS Technology in November 2020 and in addition to having applications for the group's core aquaculture markets, its highly accurate real-time tracking devices have applications in other markets. OTAQ has secured an order to provide 610 trackers for a sporting event which will be used to support the healt

Trading Update

OTAQ has released a Trading Update which indicates that results for the year to March 2021 will be in line with expectations. We forecast revenues of £4.0m and Adjusted EBITDA of £0.5m. Despite the disruption from CV19, which has severely limited travel in the period, OTAQ has made strong operational progress as it develops its product offering to address the challenges of the aquaculture industry. In addition to in-house development, the group has been actively corporately over the past year, i

This Year, Next Year

It has been a year the likes of which we have never seen before, and hope never to see again. The description of the impact of the CV19 pandemic as K-shaped certainly feels accurate, with some sectors being well placed to benefit from the creative disruption that has engulfed the world, accelerating structural changes, while others through no fault of their own have been severely impacted. This has been the case for the Dowgate portfolio of corporate clients, with our quoted clients falling into

Interim results

OTAQ has reported resilient H1 2021 results as the company is on track to deliver on full year expectations. Despite Covid-19, Revenues increased +16% to £2.03m (H1 2020: £1.76m) and Adjusted EBITDA jumped +22% to £0.39m (H1 2020: £0.32m). OTAQ has continued to broaden its revenue streams both geographically and through enhancing the product portfolio. The Group entered a strategic alliance with Minnowtech LLC to accelerate the commercialisation of new technologies. In Q3, OTAQ acquired the trad

Acquisition of ROS Technology

OTAQ has announced the acquisition of ROS Technology. ROS Technology is an innovative technology business which specialises in electronics and mechanical design in multiple industries including aquaculture and offshore. As part of the acquisition, founder Dr Peter Robinson will join OTAQ and continue to develop ROS Technology's products as well as join the existing OTAQ R&D team. Dr Peter Robinson is a technology innovator with over 40 years' experience and is familiar with OTAQ's SealFence prod

Strong start to public life

OTAQ has reported impressive FY2020 results ahead of expectations, with revenue increasing +117% to £3.42m (2019: £1.58m) and +73% organically. Within this, Aquaculture continued its impressive growth at +43% with £1.9m from product rentals and a further £0.2m from product sales while the new divisions Offshore contributed £0.62m and Connectors £0.70m. The Group's Sealfence product increased its market-leading position in Scotland to a 40%+ share and has made inroads into the sizable Chilean mar

Morning Note – 22 April 2024

Headlam Group - Strategy for growth in tougher market

Headlam Group has laid out an ambitious long-term revenue target of between £900m and £1bn, as it seeks to grow its share of the UK floor coverings distributor market. Despite a challenging backdrop due to the low level of residential housing transactions, management is seeking to expand each of its sales channels: Trade Counters, Larger Customers, Regional Distribution and Europe & Other. The FY23 results reflected the more challenging environment and the group trades at a discount to its long-

SP Angel Morning View: Copper prices hit $9,700/t as China smelts concentrates for zero charge Tc/Rc

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

SP Angel Spec Sits: FY Trading Update (LTHM)

LIBERUM: Severfield: Erratum: Better EPS and cashflow, and buyback

LIBERUM: CEO Video: Matt Wragg, Gattaca plc:

VSA Morning Flow Test 19/04/24 (Quadrise)

Quadrise (QED LN) has provided an update on its Utah project with Valkor. Valkor’s partner (Heavy Sweet Oil LLC) has received funding and approval to commence drilling enabling production of 20-40bopd of heavy sweet oil providing QED with samples for production of test scale quantities of MSAR and bioMSAR; the company’s key fuel decarbonising emulsion fuel products. This should derisk the commercial scale ramp up. QED management has highlighted that Valkor has not yet raised the minimum of US$

AUCTUS ON FRIDAY - 19/04/2024

AUCTUS PUBLICATIONS ________________________________________ Tethys Oil (TETY SS)C; target price of SEK100 per share: Increasing further the size of the prize/Considering Algeria – The South Lahan area on Block 58 is estimated to hold 55-523 mmbl prospective resources (P90-P10 case) with a mean case of 251.8 mmbbl prospective resources across six prospects in the Ara Carbonate. Combined with the previously disclosed prospective resources of the Fahd area in the north-eastern part of Block 58, Te

Hybridan Small Cap Feast - 22 April 2024

22nd 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: 16 April 2024: Electric Guitar (ELEG.L) Concurrent with its Admission to trading on AIM, Electric Guitar is proposing to acquire the entire issued share capital of 3radi

LIBERUM: SigmaRoc: Solid Q1 performance

Q1 Operating Results

Another Good Year of Diversified Growth with More to Come in 2024 CCapital have released their Q1 operating results. Overall, revenue has come in slightly lower than expected at $80.2m vs TamE of $85.9m but is largely tracking in line with our FY24 annual estimate and we note the company has maintained guidance. Drilling revenue for this quarter was impacted by a fall in utilisaztion rates as well as general remobilisation geographically but we expect a strong recovery throughout the year as k

LIBERUM: Gattaca: Resilient contract performance, perm tough

Epwin (EPWN LN) - Strong performance in difficult markets with EBIT +19% yoy

Epwin’s FY23 results show a strong performance in both absolute and relative terms with operating profit increasing 19% yoy to £25.5m (FY22: £21.5m) as the margin expanded 140bps yoy to 7.4%.

Morning Note – 26 March 2024