Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on PHOTONSTAR LED GROUP PLC. We currently have 18 research reports from 3 professional analysts.
|28Oct16 04:09||RNS||Grant of Options|
|25Oct16 10:40||RNS||Director's Dealing|
|16Sep16 07:00||RNS||Half Year Results|
|13Sep16 07:00||RNS||Working Capital Facility|
|25Jul16 10:51||RNS||Issue of Equity|
|23Jun16 12:25||RNS||Result of AGM|
|14Jun16 07:00||RNS||Change of Adviser|
Frequency of research reports
Research reports on
PHOTONSTAR LED GROUP PLC
PHOTONSTAR LED GROUP PLC
Northland Capital Partners Morning Report
13 Sep 16
Churchill Mining (CHL.L) – SPECULATIVE BUY*: ICSID Arbitration update | SalvaRx Group (SALV.L) – CORP: Interim results | ValiRx (VAL.L) – CORP: Update | PhotonStar (PSL.L) – BUY*: Working Capital facility | Rockwell Diamonds (RDI.L) – CORP: Board and management changes
18 Jul 16
Topic of the quarter: Could Brexit be a positive for the UK Industrials sector? While the EU and UK are important to each other in terms of trade, the level of that importance is asymmetric: 44% of UK exports go to the EU and a further 10% go to countries with free trade agreements with the EU; only 15% of EU exports go to the UK. As a result, we feel that UK bargaining power is relatively weak and we need to accept the possibility that the UK drops out of the single market and trades under WTO terms with Europe. The extent to which this is a positive or negative for UK Industrials depends entirely on the value of Sterling versus the Euro or US Dollar. We analyse this and conclude that with a 7% (or greater) depreciation of Sterling (versus pre-Brexit levels), all the costs associated with WTO trade are more than compensated for. Big exporters become strategic winners and big foreign FX earners become financial winners. Largely domestic players are at risk. Export or die!
Civil: No Reflation here, only a Race to the Bottom
05 Dec 16
The strengthening of the US dollar since the election of Trump is adding to the headwinds in the airline industry: over-capacity and falling yields. The airline industry, which is expected to generate $8bn of free cashflow in 2016 on $600bn of capital employed, needs to spend $120bn annually to maintain current delivery rates. Deferrals and down-gauging is now spreading to narrow-bodies as more and more airlines review their capex plans. We expect acceleration of seat densification as airlines look to sweat their existing fleets. We now expect deliveries to fall by 5% over 2015-18 as opposed to our previous forecast of flat growth. Aftermarket may also suffer as seat densification helps cut number of flights. This leads to reduction in our EPS forecasts for key Civil Aerospace names: Rolls-Royce, Meggitt, GKN and Senior.
Joy of Techs
21 Nov 16
ICT evolution is driven by technological development as advances are made which both meet and shape customer requirements. Our 2011 note No such thing as a telco described the modern reality in that former ‘telcos’ now deliver varying elements of a range of managed services. We built on this theme last year, exploring in further detail their evolutionary paths, operating fundamentals, and cashflow yield similarities. In the consumer environment, demand for bundles of technology is complemented by demand for content. Across the pond, the mooted combination of AT&T and Time Warner typifies the bundled need of ‘pipe’ and content, since unbundled alternatives such as FaceTime and WhatsApp can be easier and clearer to chat over, and Amazon and Netflix are easier to watch anywhere. In the UK, BT’s defensive actions cover delivery, content and capabilities, acquiring EE yet also buying football rights. While TV was long ago added to triple play to become quad play, voice is now merely an app, and fixed and mobile seen as just dumb pipes: it's the content that will influence consumer choices. Growth of TV and film as well as music and gaming over IP leads to UK small cap opportunities. In context of the drive to maximise value from pipes and access by offering content and data, we look at some amongst the potential tech small cap beneficiaries: Amino*, Keyword Studios, ZOO Digital*, 7digital*, KCOM* and CityFibre*.
Small Cap Breakfast
07 Dec 16
Creo Medical group—Schedule 1 update.. £20m raise. Expected market cap £61.2m, admission expected 9 December. ECSC—Schedule 1 from provider of cyber security services. Raising £5m. Vendor sale £0.8m. Target date 14 Dec. Expected market cap £15m. RM Secured Direct Lending - The secured direct lending fund intends to float on the Main Market on 15 December raising up to £100m
N+1 Singer - MJ Gleeson - Strong demand underpins full year expectations
08 Dec 16
A positive AGM statement confirms strong demand at Gleeson Homes (queues forming at new sites) and progress on all key metrics. Net reservations are up 20% and the division is now active on 50 sites, up from 48 at the year end. The land pipeline has extended further and now stands at 9,310 plots, providing visibility for many years. A new regional office is planned for Nottingham, in line with the strategy to replicate the unique Gleeson model in adjacent regions. Gleeson Strategic Land also continues to experience strong demand and will have another good year. Full year guidance is reiterated with growth expected to accelerate in H2. Gleeson is in excellent shape with a very positive medium term growth outlook, which, in our view, is not reflected in the current share price.
Short term blip provides an attractive entry point
04 Aug 16
Portmeirion Group has reported their interim results this morning which are inline with our revised estimates. The company has had a mixed first half year but should be well positioned to rectify underlying issues in South Korea and India and hit our full-year numbers. The recent profit warning should be viewed as a blip and should not overshadow the company’s fantastic track record.