Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on SOLID STATE PLC. We currently have 14 research reports from 3 professional analysts.
|23Mar17 07:00||RNS||Trading Update & Notice of Results|
|13Mar17 07:00||RNS||Appointment of Joint Broker|
|22Nov16 07:00||RNS||Half-year Report|
|21Nov16 07:00||RNS||Directorate Change|
|15Nov16 12:05||RNS||Holding(s) in Company|
|20Oct16 07:00||RNS||Trading Update & Notice of Results|
|19Sep16 15:42||RNS||Director/PDMR Shareholding|
Frequency of research reports
Research reports on
SOLID STATE PLC
SOLID STATE PLC
Small Cap Breakfast
23 Mar 17
K3 Capital Group—Schedule 1 from the Group of business and company sales specialists across business transfer, business brokerage and corporate finance. Admission date and fundraise details TBC. Integumen— Schedule 1 from the personal health company developing and commercialising technology and products for the human integumentary system. Raising £2.16m at 5p. Expected market cap £8.16m. Admission expected 5 April. Sentinel—Investment company expecting NEX admission/introduction on 24 March. £636k raised pre-IPO. BioPharma Credit—Expected Gross Initial Acquisition Proceeds now c.$338m. Gross Cash Proceeds capped at $423m with placing and open offer. Results expected 23 March with admission now due 30 march.
On track to achieve full year market expectations
20 Oct 16
Solid State has announced that H117 results will be ahead of H116 and put the group on track to achieve market expectations for FY17. We leave our estimates broadly unchanged and note that this news should give investors greater confidence that the group will be able to achieve the modest underlying profit growth in our estimates. This should help move the share price even closer to our indicative valuation of 505p/share.
Core business performing strongly
12 Jul 16
Solid State’s FY16 results were flattered by an undisclosed sum in settlement of the terminated MoJ contract. This obscures the underlying performance of the rest of the business, which looks in a good position, given the record order book at the year-end, to deliver a modest improvement in underlying profit before tax in FY17. Management expects the recent Creasefield acquisition to generate incremental profit from FY18 and is keen to execute one acquisition each year going forward. Investors still seem unable to look beyond the ups and downs of the MoJ contract. Increased confidence that the group is able to deliver the modest underlying profit growth in our estimates should help move the share price towards our indicative SOTP valuation of 505p/share.
Expansion of batteries activity
01 Jun 16
Solid State has acquired Creasefield for a maximum consideration of £1.5m. The transaction strengthens Solid State’s existing battery operation. We revise our FY17 revenue estimates, while leaving our profit estimates and indicative valuation of 505p/share unchanged.
Settlement of MoJ contract
25 May 16
Solid State has finalised a settlement agreement with the Ministry of Justice (MoJ) for the terminated contract to supply sub-systems for offender tagging. We treat this payment, the value of which is not disclosed, as an exceptional item. Our adjusted PBT and EPS estimates, which already reflect the absence of continued revenues from the contract, remain unchanged. Management estimates that the settlement will boost FY16 reported PBT to £4.1m.
N+1 Singer - Morning Song 21-03-2017
21 Mar 17
accesso Technology (ACSO LN) Full year results in line, but key trading months still ahead | Augean (AUG LN) Double digit growth in ’16, good start to ‘17 | Earthport (EPO LN) Interims show continued top line strength | Goals Soccer Centres (GOAL LN) Good momentum under new team. It’s now all about delivery | IQE (IQE LN) FY’16 results prompt further upgrades | Microsaic Systems (MSYS LN) Challenges in 2016, strategy remains in place | mporium Group (MPM LN) Funds raised to help execute strategy | RhythmOne (RTHM LN) Dawn of the independents | ScS Group (SCS LN) Strong progress on key growth initiatives albeit comps now toughen | Sinclair Pharma (SPH LN) FY results: EBITDA ahead, Instalift™ gaining pace | Vectura Group (VEC LN) FY (9-month) results
N+1 Singer - N1S Trend spotting - Strategy update
08 Mar 17
In this new product we present some strategy theme updates arising out of our latest analysis of macro trends and economic data and our innovative Quant work. We also look at upcoming events and suggest topping up on some of our Best Ideas for 2017.
N+1 Singer - Augean - Double digit growth in ’16, good start to ‘17
21 Mar 17
Augean reported another year of double digit growth for 2016, with profits in line with our forecasts. Sales grew by 21% excluding landfill tax, while adjusted PBT grew by 18% to £7.1m before amortisation of acquired intangibles. DPS was increased by 54% to 1.0p, 25% ahead of our estimate. The business units made further strategic progress, with revenues from their top 20 customers increasing from 42% to 43% of the total, of which 88% was under contract or a framework agreement, increasing forward visibility. There has been an encouraging start to 2017 and management is confident of delivering another year of profits growth. The shares trade on undemanding single digit multiples, offering good value.
N+1 Singer - Morning Song 22-03-2017
22 Mar 17
Carador Income Fund (CIFU LN) Premium rating restored, high levels of refinancing activity | Cello Group (CLL LN) Outlook getting brighter – watch Pulsar | Eckoh (ECK LN) Largest ever US secure payments win | eg solutions (EGS LN) Full year results in line | Futura Medical (FUM LN) Licensing deal for CSD500 in Portugal | Verona Pharma (VRP LN) Global agreement with QuintilesIMS to support development of RPL554 | Xaar (XAR LN) 2016 results slightly ahead, reduced visibility in 2017