Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on PPHE HOTEL GROUP LTD. We currently have 65 research reports from 3 professional analysts.
|22Mar17 08:00||RNS||PPHE - Publication of Arenaturist's Annual Report|
|28Feb17 11:55||RNS||Audited Annual Results - year ended 31 Dec 2016|
|17Feb17 08:00||RNS||Notice of General Assembly|
|30Jan17 07:00||RNS||Trading Update|
|23Dec16 13:36||RNS||Approval of Capital Contribution|
|21Dec16 13:03||RNS||Transfer of Assets|
|09Dec16 08:00||RNS||Acquisition of freehold of two hotels in Germany|
Frequency of research reports
Research reports on
PPHE HOTEL GROUP LTD
PPHE HOTEL GROUP LTD
03 Apr 17
After much heralding, MIFID II is finally beginning to have an impact on the business of investment research, though its true ramifications might take years to be seen. The role of analyst research is widely misunderstood. It is not all about the conclusion: the rating and price target. The real content of research is about what is discounted in the current share price and what assumptions would produce different outcomes.
10 Mar 17
We have run our new quantitative Slide Rule over the Support Services sector. Of the c.500 stocks we have ranked on a Quality, Value, Growth and Momentum basis in the small to mid-cap space, 21 Support Services stocks appear in the top 100. Fulcrum leads the pack, ranked no. 6 out of 500 (and not coincidentally our top pick for the year), closely followed by Brainjuicer (no.7), Sanne (no.8), Learning Technologies (no. 12) and Next Fifteen (no.16). These stocks have high ROCE on both an EBIT and cash basis, strong growth prospects, earnings and share price momentum and valuations that, in this context, remain attractive. At the other end of the spectrum, HSS, Management Consulting, Serco, Mitie and Lakehouse appear towards the bottom of the rankings. Strong returns could, of course, be made if any of these turn their fortunes around, and management has been changed at Lakehouse, Serco and Mitie.
Up for the challenge
09 Mar 17
PPHE has delivered on a confident post-close update with 2016 EBITDA well above expectations. H2 recovery in London despite headwinds and sustained buoyancy in newly consolidated Croatia made up for H1 disappointment, which is all the more encouraging as these are likely to be the company’s medium-term profit drivers. Valuation is low in terms of EV/EBITDA and at a glaring discount to real asset value (‘fair value’ adjustment of c 1,000p/share to reported 782p NAV will only increase on inclusion of new high-value estate).
Value creation evidenced by 16% dividend yield in 2016
07 Mar 17
PPHE is putting in place the building blocks for it’s next phase of growth with new London hotels and its Central and Eastern European business looking to raise equity locally for expansion. This will protect the group’s ability to continue to pay attractive dividends at the same time as extending its growth potential. Dividends totalled 121p in FY 2016 (100p special and 21p on-going), a yield of 16%, emphasising the success of the strategy at creating value and strength of the balance sheet. There is more to come.
2016 Final Results: Continuing to create value
07 Mar 17
PPHE’s 2016 final results surpassed our expectations with a pickup in the UK in the final quarter and a notable performance from the new Croatian subsidiary. Although the year has started well, with a continuation of recent trends, we have left our 2017 forecasts largely unchanged and made conservative assumptions for 2018, given further renovation programmes in London and The Netherlands over the next 18-24 months. The shares trade at a significant discount to book value as adjusted for the real value of the assets, and at a significant discount to peers on earnings-based measures, which is unwarranted.
N+1 Singer - Morning Song 24-04-2017
24 Apr 17
First Derivatives (FDP LN) FY slightly ahead as strong trading momentum continues | Goals Soccer Centres (GOAL LN) A potentially exciting corporate development | mporium Group (MPM LN) 2016 results: course set for exciting 2017 | Vectura Group (VEC LN) VR315 risk outweighs longer-term potential
Small Cap Breakfast
19 Apr 17
Global Ports Holding—Intention to float on Standard List. International cruise ports operator. Seeking $250m raise including $75m primary offer. Dorcaster—Schedule One Update. Admission now expected 3 May. RTO of Escape Hunt raising £14m at 135p Verditek— Intention to float on AIM. On Admission, the Company's subsidiaries will be involved in advanced solar photovoltaic, filtration and absorption technologies specialising in providing environmental services. Raising £3.5m. Admission in May. Eddie Stobart Logistics— Schedule 1. Admission expected 25 April but capital raising details TBC. ADES International Holding— Intends to join the Standard List in May raising up to $170m plus a vendor sale. Provider of offshore and onshore oil and gas drilling and production services in the Middle East and Africa. Admission expected in May. Tufton Oceanic Assets– Offer extended to 9 May to enable investors to complete further due diligence.
N+1 Singer - Morning Song 20-04-2017
20 Apr 17
Carpetright (CPR LN) Preview – FY pre-close update due on Tuesday | SDL (SDL LN) Disposal of Social Intelligence | Senior (SNR LN) Q1 trading in line | Senior (SNR LN) Q1 trading in line | Servelec Group (SERV LN) Calling the bottom | Trifast (TRI LN) FY17 results ahead of expectations
Strong final results
20 Apr 17
The group has reshaped its business over the past two years, strengthening management and operational infrastructure, increasing capacity and reviewing strategic emphasis. We anticipate a progressive revaluation given the potential growth profile in an addressable and fragmented international market. Our 2017 forecasts remain unchanged following the results which imply EBITDA growth of 26%, and we raise our target price to 6p, implying potential share price upside of 23%.