Companies: Hardide plc (HDD:LON)IOG PLC (IOG:LON)
Hardide’s all-important end market of Oil & Gas, which has historically accounted for c.60% of sales, is taking longer than anticipated to return to pre COVID levels of demand. We have therefore trimmed our forecastsfor the year to September 2021. Additionally, the Company has taken the opportunity to strengthen the balance sheet and has raised £1.0m through a £0.79m equity fundraise at 30.9p and a CBILS loan of £250k. Our forecasts now assume that Hardide will end the year to September 2021 wit
Companies: Hardide plc
Companies: EOG FEN HDD LOK SDI DX/ SAVE
The group is proposing a small placing of at least £0.775m and £0.25m in CBILS to provide it with a more comfortable level of liquidity as a buffer in advance of what could be a significant recovery next year. The group has made significant strategic steps over the past year, including relocating and expanding facilities as well as significant commercial milestones achieved in the Aerospace and other sectors. While the forecast delay in Oil & Gas revenues is disappointing, it should be a near-te
Hardide has announced preliminary results for the year ended September 2020 in line with prior guidance. Despite the headwinds of COVID-19 the Company has delivered resilient results with revenues down just 6% in the year. Furthermore, during 2020 Hardide completed a relocation to a new larger, more modern facility in the UK and expanded its reactor capacity from six to nine (two new reactors added in the UK and one new reactor added in the US). Of Hardide’s end markets Oil & Gas has been impact
Companies: BYOT HDD PPC BBB ORPH
Full-year results were in line with expectations, with a small reduction in revenue reflecting the weaker oil & gas revenues partly offset by growth in aerospace, flow control and precision engineering. The programme to expand capacity and relocate its UK operations was successfully completed on time and on budget and now offers significant capacity ahead of the anticipated orders from Airbus. With weaker oil & gas conditions continuing into H1, we adjust our forecasts, with a stronger H2 expect
Allergy Therapeutics (AGY): Corp FY 2020 – record pre-R&D EBIT | Amino Technologies (AMO): Corp Argentinian software contract win | ANGLE (AGL): Corp Peer reviewed publication, using Parsortix in MBC | Bigblu Broadband (BBB): Corp Quickline secures up to £6.1m of subsidy in Lincolnshire | Hardide (HDD): Corp Trading in line with a stronger Q1 expected | Trackwise Designs (TWD): Corp Interim results, new contracts boost confidence | Xeros (XSG): Corp Commercial progress tracking in line with exp
Companies: AGY AMO AGL XSG TWD BBB HDD
Bigblu Broadband (BBB): Corp BBB’s SkyMesh becomes Australia’s largest satellite ISP | Hardide (HDD): Corp Trading update: oil sector demand softens | Morses Club (MCL): Corp Collections holding up on a reduced loan book | Savannah Resources (SAV): Corp Positive metallurgical update | Xeros (XSG): Corp Verification milestone for XFiltra
Companies: SAV XSG BBB HDD
The company’s trading update highlights that having seen resilient trading in its first half, Q3 has started to experience softening demand from oil & gas customers. We have reduced our forecasts for 2020 in light of the update, with a 22% forecast revenue reduction and the EBITDA loss widening from £0.3m to £0.5m. Our 2021 forecasts are conservatively flat. Good progress continues to be made in the aerospace sector, while the relocation and expansion of the Bicester facilities is on track and n
Against a backdrop of generally negative company announcements, Hardide bucked the trend by releasing solid interim results for the 6 months ended March 2020, noting limited impact to date from COVID-19 and a positive trading outlook. Furthermore, the allimportant move to new facilities and corresponding capacity expansion is both on track and on budget. Several of Hardide’s end markets will clearly be feeling the impact of COVID-19. However, we feel the importance of Hardide’s technology to its
Hardide (HDD): Corp | Ideagen (IDEA): Corp | Quixant (QXT): Corp
Companies: HDD IDEA QXT
Interim results were in line with the period end trading update, posting a record half-year sales. Both UK and US sites are operating normally. Crucially, H2 has started well, with no significant reduction in demand resulting from COVID-19. Ongoing close dialogue with customers remains encouraging, with management alert to the potential for order book disruption. The company remains cautiously optimistic and, as such, forecasts remain unchanged. Having raised £2.5m in January and £0.4m of asset
ANGLE (AGL): Corp | Europa Oil & Gas (EOG): Corp | Hardide (HDD): Corp | Intercede (IGP): Corp | M.P. Evans (MPE): Corp | Quixant (QXT): Corp | Synairgen (SNG): Corp | Tremor (TRMR): Corp | Trifast (TRI): Corp
Companies: EOG HDD IGP MPE QXT SNG TRMR AGL
dotDigital (DOTD): Corp Interim trading update | Elecosoft (ELCO): Corp FY 2019 earnings on track for growth forecast | eve Sleep (EVE): Corp FY19 pre-close; EBITDA loss/cash burn materially reduced | Hardide (HDD): Corp Placing proceeds to further upgrade equipment | LPA Group (LPA): Corp LED lighting contract win and trading update
Companies: DOTD ELCO HDD LPA EVE
Research Tree provides access to ongoing research coverage, media content and regulatory news on Hardide plc.
We currently have 92 research reports from 5
Powerhouse has moved to de-risk potential sources of delay in the key Protos waste to hydrogen project by providing a £3.8m loan to the project. When the company raised £10m in January we expected this to help expedite the project and today’s loan is a practical example of how this funding is benefiting the project.
Companies: Powerhouse Energy Group PLC
Powerhouse has announced progress with the international roll out of its DMG waste to hydrogen technology with an agreement towards the licencing of the technology in Greece and Hungary. This follows a similar agreement in Poland and demonstrates the global appeal of Powerhouse’s solution in our view. While development of the Protos project in the UK remains important, the ability to expand internationally is part of the appeal of the Powerhouse investment case and it is good to see progress her
Eden Research has announced the signing of an exclusive commercialisation, supply and distribution agreement with leading agriculture input company, Corteva. This follows the successful completion of the previous evaluation agreement. The new agreement sets out the development, regulatory and commercial path, which could see the final seed product launched in time for the 2024 growing season. The two companies will work together to develop this product and further uses of Eden's products in the
Companies: Eden Research plc
The group has released a positive trading update with strong trading seen recently in the US along with signs of recovery in Europe and Australia. It is quite unusual for this conservative company to boost its guidance at this fairly early stage in the year, with raised guidance for FY21 leading us to increase our adjusted EPS by 15%. The shares trade on a discount to peers and offer a premium yield. We lift our price target from 435p to 520p, up 20% and offering decent upside to current levels.
Companies: Somero Enterprises, Inc.
Semper Fortis Esports* recently announced its intention to IPO onto the Access Segment of the Aquis Stock Exchange Growth Market. Semper is a multi-operational Esports organisation focusing on gaming technology solutions, brand enhancement and high growth team infrastructures. The company plans to raise £2.5m to develop their three core areas of establishing an esports team, forming partnerships with brands for sponsorship and B2B consultancy services. The Board are highly experienced in spor
Companies: ADME RTC SAV DFCH HUW TEG ANIC KOO MIRI SPSY
c. £241m firm placing at the top of the target range of £190m to £240m at a 17% discount. As expected the raise will be used to reduce the debt and fund investment. This is the final milestone in the group’s strategy. There is no update on trading but as we wrote last month Kier is turning a corner. We show our key placing assumptions. We estimate 6% and 60% FD EPS dilution in FY 21 and FY 22 respectively. We expect net cash at FY 21 and close to average cash neutral in FY 23. TP unchanged at 15
Companies: Kier Group plc
The group’s 10-month trading update is positive, with the group expecting to exceed FY21 expectations. Trading momentum continues, following its record H1 with strong underlying market demand in new build housing and RMI sectors. It has also seen market share gains and good export sales. The turnaround of Levolux continues, combined with the £2.4m of cost savings gained underpins margin improvement. We upgrade our forecasts for FY21, increasing EPS by 9% to 21.7p. In FY22 we also upgrade EPS by
Companies: Alumasc Group plc
DX has highlighted that trading since the interim results were reported has been stronger than expected. Higher volumes in Freight, driven by new business wins and existing customers, mean sales are now expected to be £10m higher than existing forecasts. DX’s strategy of winning market share supported by superior service levels is delivering, aided by a significant competitor moving away from the irregular dimension and weight market. We have upgraded our FY 2021 EPS by 19% and FY 2022 by 7% (ma
Companies: DX (Group) Plc
Checkit reported 23% y-o-y revenue growth for Q122. Normalising for the acquisition of Checkit US at the start of the quarter, group revenue increased 15% y-o-y. Recurring revenue made up 35% of total revenue, up from 32% in Q121 (normalised), as Checkit continues to transition customers to subscription contracts. The company is accelerating investment in sales, marketing and product to drive customer acquisition. Q122 annual recurring revenue (ARR) grew 7% q-o-q and, while early in the year, is
Companies: Checkit plc
Oil posted a gain this week as expectations for growing economic activity in nations from the US to Europe fuelled optimism around stronger summer demand. Futures in New York advanced 2.1% this week in the first back-to-back weekly increase since early March. Fuel sales in the UK rose to the highest since the pandemic again, and in the US, refineries are running at their highest rate since the pandemic began as they gear up for the summer driving season.
Crude's advance this week comes amid s
Companies: FO 88E DEC EME GTC TRIN UOG
Positive revenue momentum has continued, once again driven by the Freight division. Volume growth has come both from existing customers and new business wins. This growth is seen as sustainable, and DX is accelerating its plans to expand its depot network. Management expects adjusted PBT to significantly exceed current market expectations. We raise our EPS forecasts by 17% for the current year. Our recommendation remains BUY, and we raise our DCF-based TP to 40p from 38p.
The UK market showed a continued recovery in the first quarter albeit the indices are still well short of their all-time peaks, unlike many of their international peers. The FTSE 100 has risen by 1,186 points (21.4%) since the end of October and the FTSE 250 by 4,304 points (25.0%). The comparable performance since the start of the year is less spectacular- the FTSE 100 has risen by 253 points (3.9%) and the FTSE 250 has risen by 1,070 points (5.0%). The factors behind the sustained rally are fa
Companies: AMYT ARBB BPC BAG BVC BEG BONH BLVN BRSD CML CWK CRPR EYE ECHO FDM FAR FA/ GPH GSF HUW INSE JDG KAPE KP2 MACF MPAC MNZS NESF NBI OTMP OBD PREM QFI RUA SCS SEN SOS SUR TON TOU TXP TGL TCN UEM VLS WYN
AFC Energy hosted a virtual Capital Markets Event yesterday attended by over 750 participants.
The company re-emphasised its key technological advantage, namely, AFC Energy's technology can successfully run on a range of cheaper hydrogen sources including hydrogen ‘cracked' from green ammonia. Based on AFC Energy's market analysis, it stated that on an energy equivalent basis ammonia costs less than one quarter of the cost of hydrogen. Ammonia is a liquid under normal conditions, making it a d
Companies: AFC Energy plc
Empresaria has made a strong start to 2021, with positive momentum building in many parts of the Group. While there remain some ongoing challenges and risks from COVID-19, visibility over the year ahead is improving and the first half is now expected to show year on year growth. We upgrade our adj. PBT forecast by 10% to reflect the improving outlook. Whilst it is early days in terms of the recovery, it is positive to see momentum returning. On 2019 earnings (pre-COVID), the shares trade on a P/
Companies: Empresaria Group plc
Oil rose this month with a slew of positive economic data and signs of a budding fuel consumption revival in key economies offsetting a worsening coronavirus crisis elsewhere.
Futures in New York rose this week, extending its monthly gain to 7.5%. The near-certain likelihood of higher fuel consumption in the US, China and the UK has brightened the overall demand outlook, even as a resurgent pandemic in countries such as India, Brazil and Japan cloud those prospects. OPEC and its allies see wo