Spectra Systems Corporation has announced that its Secure Gaming Transactions (SGT) division (a global provider of sophisticated auditing software to lottery providers and backers) has been selected by a new client, a Canadian lottery, to provide its Premier64 Integrity internal control system (ICS) over an initial period of five years (plus optional renewal). In addition, Spectra has renewed (for a four year term) a contract with a long-term US lottery customer that will also convert the Premie
Companies: Spectra Systems Corporation
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
Spectra Systems Corporation, a leader in machine-readable high speed banknote authentication, brand protection technologies, and gaming security software, has announced that it has executed an agreement with a major central bank customer, in addition to the sensor agreement announced on 2 February 2021, to include a new capability in those sensors to detect “exotic counterfeit” bank notes.
Wickes to demerge from Travis Perkins and list on the Main Market. Expected 28 April.
Advance Energy to complete an RTO on AIM indirectly acquiring up to 50% of Carnarvon Petroleum Timor which holds a 100 per cent. working interest and is the contractor under the Buffalo PSC, offshore Timor-Leste. Carnarvon Petroleum Timor is a subsidiary of ASX listed company, Carnarvon Petroleum Limited. The net proceeds of the Placing of approximately £20.01m (approximately US$27.51mm) will be used to fun
Companies: ROCK NTQ TRCS GROW BARK AFM SPSY ALT WATR BGO
Spectra Systems Corporation, a leader in machine-readable high speed banknote authentication, brand protection technologies, and gaming security software, has this morning announced that it has received a notice of allowance from the United States Patent and Trademark Office for its technology relating to the disinfecting of banknotes from SARS-2 and other biohazards (BDS-1000 Banknote Disinfection System – and not to be confused with Aeris which cleans and disinfects and is targeted at central
SPSY has announced a strong set of results, with PBTA and EPS some 4% and 9% respectively ahead of our forecasts, following a succession of upgrades and some notable wins during 2020 plus the largest bank note materials order in the company's history. Also of note is the progressive nature of the dividend, building on 2019's ‘special', DPS increasing a further 5% to 9.5c, a yield of 4.1%. With meaningful earnings upgrades to the current financial year (EPS +5%), and new, progressive, albeit co
Spectra has announced that a long-standing central banking customer has executed the second phase of a sensor development programme. The contract is worth $5.6m over an eighteen month to two year period, but with much of the work under the agreement not expected to commence until later in 2021. The agreement will provide underpinning to both the current year and into FY2022 (yet to be published). This agreement follows the first phase, announced on 21 October 2020, and worth $1.9m, being deliver
As a leader in machine-readable high-speed banknote authentication and brand protection technologies, as well as gaming security software, SPSY has highly technical optically based science as a foundation stone. Today's announcement that it is acquiring, for a de minimis amount, a further stake in Solaris BioSciences Inc., is therefore bang on target in terms of broadening its reach with these technologies into the very substantial new field for SPSY of bio-fluid analysis opening up the bio-tec
Spectra Systems Corporation, a leader in machine-readable high speed banknote authentication, brand protection technologies, and gaming security software, has announced that it has executed a comprehensive services contract with a ‘long standing' central bank customer for the development, manufacture and servicing of a sensor system. The initial development phases underpin our FY2021E estimates (with risk likely to the upside), but moreover, the balance of development work, comprising supply of
Spectra Systems, a leading provider of advanced technology solutions for banknote and product authentication markets, has announced a solid set of interim results. Moreover, significant H2 visibility, notably from central banking customers, yields upgrades to our FY 2020 and FY 2021 estimates with adjusted PTP increasing 17% and 16% to $5.8m and $6.1m respectively. In terms of H1 numbers, revenues increased marginally to $6.5m (H1-19: $6.4m), and adjusted pre-tax profit came in flat at $2.3m. Th
Caledonia's Q2 2020 production from its 64% owned Blanket mine in Zimbabwe was 13.5koz gold. This was an increase over the same period last year of 6.2%, leaving Caledonia with a first half production of 27.7koz – well ahead of this time last year (24.7koz) and on track to meet its 2020 full year guidance of 53-56koz (WHI etc. 55.5koz).
Spectra Systems Corporation is a provider of machine-readable high-speed banknote authentication, brand protection technologies and gaming security softwar
Companies: Spectra Systems Corporation (SPSY:LON)Caledonia Mining Corporation PLC (CMCL:ASE)
It is disappointing that having made an impressive and validated bid to an Asian central bank at a keen price, Spectra has been underbid, at the final hurdle, irrespective of the strength of its technology, and notwithstanding its proven track record and secure production facilities. However it is important to note that (1) there is no impact on our (recently upgraded) forecasts, (2) SPSY retains a strong hand of other prospective opportunities in its $US100m-plus pipeline, (3) other, as yet unq
Results ahead; forecast upgrades, special dividend, yielding 7%
SPSY has announced a strong set of results, with EBITDA and PBTA some 6% and 4% respectively ahead of our forecasts, following a succession of upgrades and some notable wins during 2019. Reflecting the strong momentum, and with forecasts well supported by firm contracts which exist independently of the current global crisis, the company is (1) trading ahead of expectations in the current year, and (2) with strong cashflow, feels co
Good entry point for great business
Only marginally above levels last seen a year ago, we view shares in SPSY at the current price as representing an excellent entry point after coming off on profit taking. This was not, after all, an ordinary year for SPSY but an excellent one, characterised by upgrades, contract wins and most importantly, a significant collection of major opportunities which the company is working through and any of which has the ability to be a game changer for the business.
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The Group has reported excellent progress in FY2021, despite Covid disruption, delivering adj. operating profit growth of 35.8%, some 5% ahead of that indicated in April’s trading update. The business has benefited from its diverse and resilient sector exposures, alongside exposure to a number of growth markets that include data centres and EV charge cables where revenue growth was 38% and 193% respectively. The business is well positioned into FY2022 with strong trading noted in the first 2 mon
Companies: Volex plc
Seeing Machines has announced that its DMS software is now available across five additional vehicle models from world-leading automotive manufacturers.
It has been working closely with Joyson Safety Systems since 2011 to integrate the Company's software into the General Motors' Super Cruise driver assistance feature. This system, based on the Company's FOVIO e-DME (embedded Driver Monitoring Engine) software, is now available in three new vehicle models including the General Motors' 2021 Cadill
Companies: Seeing Machines Limited
Despite the challenges presented by Covid-19, TP Group was able to report organic revenue growth of 9% YoY in FY20A, and total revenue up 20% YoY. Aided by strategic acquisitions, non-core business disposals, and investments made within the group, the company should be well placed to benefit as trading conditions normalise. With visibility improving, we release new forecasts for FY21E and FY22E (Adj EBITDA of £4.2m and £5.1m respectively). Given the improving outlook, and a record order book (£6
Companies: TP Group Plc
Successful completion of the first commercial flight using Velocys sustainable aviation fuel is clearly an important milestone for the company. We also think it shows that the collaboration agreement deal with Toyo Engineering is progressing, vindicating the company’s low capital licencing model, and opening the way to commercial revenues.
Companies: Velocys plc
OPG shares have been soft of late, reflecting concerns over the COVID-19 situation in India, where the company’s key power plant is based in the industrial city of Chennai. Today’s update is therefore reassuring, both for the fiscal year just completed and given commentary that the current lockdown appears to be having a more limited impact than the prior one in calendar 2020. From an investment perspective, cash generation remains key as the deleveraging should continue to shift value from the
Companies: OPG Power Ventures Plc
As midsummer’s day looms (where has this year gone?), there is greater optimism, in general, than may have been anticipated a few months ago. A post-pandemic, ‘vaccine-driven’ recovery demonstrated by increased consumer spending as lockdown measures are lifted has been one of the catalysts. The FTSE 100 has been range-bound in the last month 6,900-7,100. We have seen a combination of broadly positive company results across a range of sectors, further examples of M&A activity and a sequence of ne
Companies: AMYT ARBB ARW BAG BEG BONH BWNG CWK DNK EML EPWN FBD FA/ GPH GSF GNC HUW IGC INSE KAPE KP2 MMAG NRR NESF OTMP ROL RUA SEN SUR TON TOU TXP TGL VLS WINK
FY 20 EBIT was in line with the guidance in the April trading statement. We maintain our FY 21 and FY 22 earnings estimates, which we recently updated to reflect the raise and no tax charge. FY 20 spot net debt (excluding leases) reduced from £36.2m in H1 20 to £8.8m, helped by management effort. We maintain our FY 21 IAS 17 spot net debt estimate of £36m as the VAT creditor unwinds. At Recruitment GB, EBIT only decreased 9% despite the disruption from the pandemic, and skills shortages are emer
Companies: Staffline Group plc
The declaration of the interim dividend, albeit modest, is the next step in the recovery of Smiths News as it signals that not only was trading at the interim stage in line with management expectations, but also that the company is on track to meet market expectations for the full year. Trading beyond the current year also has good visibility given that most of its contracts are in place until at least 2024. Debt is expected to fall to 1.0x EBITDA by the end of FY23, and dividends are well cover
Companies: Smiths News PLC
It’s a heady mix. Lockdown the country, pump £100bns into the economy, displace millions of workers, don’t allow them to spend for 12 months, and then push the release button. Hey presto, you end up with a ‘V-shaped’ recovery, together with a shortage of qualified staff. Particularly anything related to technology, green power & engineering, as corporates accelerate their digitisation plans, alongside the secular expansion of renewables, electrification, defence (cyber & marine) and infrastructu
Companies: Gattaca plc
Construction and engineering services company nmcn has today announced the details of its previously reported intention to refinance the Group, which had been hit by trading- and pandemic-hit losses. A total of £24m of equity and convertible bridging finance has been conditionally agreed with UK restructuring specialist Svella and other investors, while existing shareholders can participate through an additional £5m open offer - all priced at 20p per share. The Group’s existing bank, Lloyds, has
Companies: nmcn plc
Blackbird plc* (BIRD.L, 32.25p/£108.7m) | Audioboom plc* (BOOM.L, 820p/£128.5m) | CAP-XX Ltd* (CPX.L, 7.65p/£33.8m) | Starcom plc* (STAR.L, 0.975p/£3.4m)
Companies: BIRD BOOM CPX STAR
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 robustness of the operating model and management's action to support customers and manage the cost base led to Vianet generating positive operating cash flow in FY21A. There is a strong pathway to recovery but the full extent is somewhat caveated on a full reopening profile that is yet to be confirmed. We are forecasting the Group to be free cash flow positive this year and see upside in the price as new order momentum returns.
Companies: Vianet Group plc
Epwin has entered FY21 with positive revenue momentum, having successfully navigated some extreme market conditions in the prior year. The company has built a solid base from which to grow volumes, and a positive cash generation profile provides headroom to invest organically and via acquisition as post-pandemic markets begin to normalise.
Companies: Epwin Group PLC
Britain’s leading structural steel specialist slightly beat our previously increased estimates for FY2021, with adjusted PBT of £24.3m in today’s results, against our estimate of £24.0m. “Considerable positive momentum” has continued into FY2022E, with an increased order book in both UK & Europe and also in the Indian JV, despite the second wave hitting the subcontinent. We are not changing our FY2022E estimates, being early in the financial year, but continue to believe the Group is strongly pl
Companies: Severfield Plc