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Companies: IG Design Group plc
IG Design Group’s interim results reflect a challenging trading period despite strong underlying demand. Group revenue rose by 11% year on year (yoy) but was below group expectations due to global supply chain disruptions. Compounded by strong cost headwinds and inflationary pressures, this has had an adverse impact on profitability, notwithstanding the group’s strong cost control and cash management. The group is actively mitigating these pressures in conjunction with its customers. Customer se
IG Design Group has issued a trading update for the first six months of FY22E. Sales rose by 11% on a like-for-like (LFL) basis but were below the Group’s expectations. The operating cost pressures outlined in the August trading update – inflation in sea freight, raw materials and labour costs, together with global supply chain disruption – have continued unabated. Despite the Group’s best efforts to mitigate these factors, H1 operating margins have been adversely affected. With the cost pressur
The positive start to FY22E outlined at the June prelims has continued with the Group reporting strong LFL sales growth of 25% for the first four months to 31 July. Cash generation and management remain strong with net debt of $5m at end July, compared with net debt of $29m last year. This welcome news is tempered however by operating cost headwinds, most notably sea freight and other ongoing adverse effects of Covid on global supply chains. The combination of revenue momentum and cost mitigatio
IG Design Group delivered another year of profit growth, at both adjusted and reported levels, despite the vicissitudes of the coronavirus pandemic. Net cash at the period end rose by 46% to $76.5m, with the Group’s unerring focus on cash management translating into average leverage of 0.0x (from 0.9x in FY20). The total dividend for the year was maintained at 8.75p, reflecting this robust cash generation. The Group has unveiled both its new Growth Plan and its Design Group Sustainability Framew
…to deliver full year outturn in line with expectations
Outlook remains in line with market expectations
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H1'22 Interim Results: Caution Ahead!
Companies: Frontier Developments Plc
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Hercules Site Services a technology enabled labour supply company for the UK infrastructure sector, intends to float on AIM. Hercules is seeking to raise approximately £5.5m to rapidly deliver on the significant demand it is experiencing for its diverse range of services across the UK infrastructure sector, including to scale up its operations to supply labour to the northern section of the HS2 rail project
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Unilever’s bid for GSK’s Consumer HealthCare division is causing a stir, as it seems totally unreasonable. The group was asked to move on portfolio rotation, but definitely not to be so ambitious at the risk of penalising shareholders.
Companies: Unilever 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: Shoe Zone PLC
Genflow Biosciences, a UK-based biotechnology company focused on longevity and the development of therapies to counteract the effects of aging and diseases associated with advanced age intends to float on the Main Market (Standard). The Company will become the first longevity biotechnology firm to list in Europe. Genflow has raised £3.7m in an oversubscribed placing, conditional upon admission becoming effective. The flotation will value Genflow at approximately £23.4m.
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Accrol has released a trading update highlighting further inflationary cost pressures guiding FY22E adjusted EBITDA to be significantly below FY21A.
Companies: Accrol Group Holdings plc
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Games Workshop Group’s (GAW’s) H122 results reflect lower year-on-year revenue growth after a very strong FY21, as expected, with positive comments on new launches, specifically the third edition of Age of Sigmar. Ongoing internal investment to support future growth and new external cost pressures led to a reduction in operating profit pre-royalties, which was more than offset by the notable increase in royalty income. As previously flagged, the shape of our FY22 forecasts has changed to reflect
Companies: Games Workshop Group PLC
Accrol has released H1 results, which are 7% below last year’s level at the adjusted EBITDA level at £5.0m despite significant supply chain disruption and cost escalation. We made our earnings adjustments in the trading update last week but reduce our net debt forecasts by 13% to £23.9m reflecting lower capital expenditure investment. We believe more can be done to reduce this through working capital efficiencies, but we have left our assumptions on this unchanged for now.
Sanderson Design Group (SDG) has announced a trading update for the current financial year ending 31 January 2022 (FY22E). Strong performances, most notably from the group’s manufacturing and licensing activities, have resulted in the Board’s expectation of adjusted profit before tax of at least £12.0m, compared with the £7.1m delivered in FY21. This equates to an increase of at least 70% over FY21. Our upgrade to £12.0m represents a 14% increase on our previous adjusted PBT forecast of £10.6m.
Companies: Sanderson Design Group PLC
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