Hybridan Friday Takeaway

CTG- Transactions to recover PMP- Breaking new ground SKL- Hockey Sticks ZIN – Camera Action Christie Group 95p £25.2.8m (CTG.L) A Trading Statement came out this week from this unique business comprising two divisions of Professional business Advisory Services and Stock and Inventory Systems which operates from 37 offices across the UK and Europe. Trading in H1 is reported below expectations but H2 is stronger and there is confidence of a return to profits for the full year to December 2024. It

Hybridan Small Cap Feast - 19 September 2024

19th September 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, or it is a rumour *New product launch* Tomorrow, we will bring you “Friday Takeaway”. This will delve a little deeper on individual companies and focus on non-house stocks under £200m market cap to help raise awareness Dish of the day Admissions: None Delistings: Bank of Cyprus Holdings (BOCH

Self-help & core markets resilience in H1; FY PBT expectations held

H1-24 results as anticipated are weak. We make 5 key points: (1) Tough trading in South Korea masks a resilient performance in the dominant North America / UK territories (+5% cc). (2) South Korea trading has stabilised in Q3 which is sentiment positive. (3) Pro-active cost cutting action bodes well once market conditions improve. (4) Whilst the broad trading environment continues to have challenges, there is no change to FY expectations. (5) The interim DPS has been lowered, but this reflects a

Portmeirion + (PMP, House Stock at 223p) - Still on track for FY24F

Portmeirion + (PMP, House Stock at 234p) - New CFO to be appointed

Hybridan Small Cap Feast - 18 July 2024

18th July 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, or it is a rumour Dish of the day Admissions: None Delistings: None What’s baking in the oven? ** Potential**** Initial Public Offerings: ITF announced: 8th July 2024: Rome Resources: The Canada-based early-stage resource exploration Company has announced its intention to IPO on AIM in order to co

Portmeirion+ (PMP, House Stock at 210p) - H1 trading update - on track for FY24F

H1 update shows progress ex S Korea; FY expectations maintained

Portmeirion in its H1 trading statement has maintained FY profit expectations. H1 revenue as previously flagged is lower (-17%), but this masks an encouraging 5% y/y growth ex South Korea. Commentary around cost savings, Wax Lyrical and the US Christmas order book is also positive. We leave numbers unchanged for now and while there is much work to do over H2 to hit our FY PBT estimate, we are encouraged by the areas of progress in H1. For now we stay at Hold but once headwinds wane and confidenc

FY23 in line but DPS rebased; FY24e PBT unchanged

Portmeirion has delivered FY23 results in line with our estimates and FY24 PBT guidance has been maintained. While trading conditions are expected to remain challenging in the near-term, especially in South Korea, there is a clear focus on protecting earnings and maximising future profitability. To this end, 10% of the cost base has been reduced for FY24. The BS has improved with net debt lowered to £7.9m (vs £10.1m FY22). With debt reduction remaining a priority and given macro uncertainty, the

Portmeirion+ (PMP, House Stock at 265p) - FY23A results, PBT on track for FY24F

Portmeirion + (PMP, House at 280p) - FY23F trading update

FY23 in line but FY24 recovery pushed to the right

Portmeirion navigated a tricky Q4, with a good Christmas performance enabling it to meet FY23 PBT expectations. This is both a relief and a good outcome. We are however having to dial back FY24 estimates to reflect signalling of ongoing macro related caution for the US and South Korea. The challenges here remain market/consumer driven than PMP specific. Net, our FY23 PBT estimate remains unchanged but FY24 and FY25 are downgraded by 36%/28%. We remain confident about mid-term prospects given ope

Hybridan Small Cap Feast 19-10-2023

19th October 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment obje

Portmeirion+ (PMP, House Stock at 240p) - Promising progress with Spode

Hybridan Small Cap Feast - 14 September 23

14th September 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment ob