Vianet Group - 1HFY24 results - As expected, 2HFY24 stronger

Vianet has published interim results to 30 September, reporting adjusted pre-tax profit of £29k (1HFY23 loss of £107k), excluding BMI post-acquisition costs. The results were in line with management's expectations while guidance that the results are on track to meet expectations for the full year was reiterated. That implies a stronger 2HFY24, aided by further contract wins and a pick up in business, particularly as the switch over from 3G to 4G gathers pace. The balance sheet was strengthened w

Morning Note – 12 December 2023

Vianet - H1 progress highlights the platform’s growth potential

Vianet’s H1 results show adjusted EBITA growth of +7% yoy to £1.3m, a strong improvement in net debt to £2.1m from £3.4m at FY23, and promising progress across both divisions. H1 revenue of £7.2m is +0.2% yoy and 87% recurring revenue, with Smart Zones delivering a resilient £4.1m, and Smart Machines +1% yoy to £3.1m, as customers initially delayed H1 orders to plan for the 3G mobile network switch off from 2024. Gross profit grew +8% yoy to £5.0m as gross margin increased to 69% vs 64% in H1 23

Vianet Group - 1HFY24 trading update - positive outlook

Vianet has issued a trading statement ahead of publication of the 1H24 results scheduled for 12 December. Revenue for the half was £7.19m with an increase in recurring revenue to 87% and a jump in gross margin to 69%. Vianet was profitable in the half, excluding £0.2m in support for the recently acquired Beverage Metrics business in the US. The results were in line with management's expectations and are expected to pick up significantly in 2H24 as a result of new contract wins, and an accelerati

Hot Off The Wires - The Day Ahead

Today's news and views, plus announcements from: WEIR, GSK, AML, WG., PDL, ASC, TKO, ARIX, VNET, UOG, & ANIC.

Morning Note – 1 November 2023

The Joy of Techs - Cavendish Technology quarterly sector note

£23.3bn in enterprise value has been returned to AIM technology shareholders over the past six years in the form of 51 public to private takeouts, including 10 in 2023 alone with the takeovers of Smoove* and Tribal announced in early October. With UK valuations appearing cheap and looking more attractive to potential acquirers, we take a moment to reflect on the trends of corporate and private equity bidders targeting AIM-listed technology companies going back to 2017, through the uncertainties

Hot Off The Wires - The Day Ahead

Today's news and views, plus announcements from: RIO, AHT, CLDN, MEN, TIFS, ECOR, CRW, SRC, & VNET.

Vianet Group - FY23 Results

Vianet has published results for the year to March 2023, confirming the strong performance flagged in the trading statement issued in May. Revenue increased 6.8% YoY to £14.1m, earning a gross margin of 66.4% and generating adjusted operating profit of £3.1m, up 31.4% YoY. Cash conversion was strong at 102.8% of EBITDA, returning to pre-pandemic levels. Management characterised the performance as a year of gathering momentum with strong prospects which was underscored by the reinstatement of the

Vianet - Strong FY23 results, robust momentum in FY24

In today’s FY23 results, Vianet has reported revenue and EBITA in line with the trading update, reintroduction of the dividend at 0.5p, and strong momentum into FY24, with a breakthrough expected in new verticals in H1. FY23 revenue growth of +7% to £14.1m reflects a near return to pre-pandemic levels in H2, with Smart Zones and Smart Machines delivering FY23 growth of +4% and +11%. Numerous product launches and upgrades are continuing to resonate with customers, including wins at vending indust

Cenkos: Vianet Group Plc - Positive FY23 results

Vianet has announced a strong set of FY March 2023 results with building momentum, in-line with the update on 2 May 2023 and our forecasts, as well as an upbeat outlook statement. We raise our fair value from 110p to 135p and maintain a BUY rating.

Hot Off The Wires - The Day Ahead

Today's news and views, plus announcements from: BATS, CURY, WG., DPLM, BBOX, RST, WAND, TRR, & VNET.

Vianet Group - Acquisition of Beverage Metrics Inc.

Vianet has acquired the operations of Beverage Metrics Inc (BMI), a Denver based provider of inventory software solutions to the US hospitality sector. The initial consideration is £578k to be satisfied in shares issued at a 15% premium to the close, with additional deferred consideration dependent on performance. The combination of Vianet's SmartDraught draft beer management solution with BMI's inventory platform provides a comprehensive one stop drinks management solution and is also expected

Cenkos: Vianet Group Plc -- Beverage metrics acquisition

Vianet has announced the acquisition of the trade and assets of Beverage Metrics Inc (BMI). Although this is a small strategic acquisition in terms of the transaction size and the current revenue base of BMI, the acquired technology supports Vianet's objectives of resuming its growth in the UK hospitality sector and will accelerate its expansion into the US market. We maintain a BUY rating and 110p fair value.

Vianet Group - FY23 Trading Statement

Vianet has published a positive trading statement for the year to March 2023 with turnover expected to be above £14m, up c7% YoY, earning a gross margin of over 65%, despite cost pressures, generating adjusted operating profit up 30% YoY to £3.1m, ahead of market expectations. Cash generation pre working capital is expected to be around £3.5m, over 100% of EBITDA and returning the group to pre-Covid levels of cash conversion. Guidance for adjusted operating profit is well ahead of our forecast w

Morning Note – 22 April 2024

SP Angel Morning View: Copper prices hit $9,700/t as China smelts concentrates for zero charge Tc/Rc

Hardman & Co Insight: 2023 was an annus horribilis for Quoted UK Infrastructure and Renewable Energy

The focus of Hardman & Co Research is on the nine quoted Infrastructure Investment Companies (IICs) and on the 22 Renewable Energy Infrastructure Funds (REIFs): the stocks analysed are all members of the Association of Investment Companies (AIC). We are updating our publication of January 2023, assessing both the lacklustre share price performances during 2023 and the key issues, including interest rates, inflation and power prices. As a 31-strong group, its combined market capitalisation is no

Hybridan Small Cap Feast - 22 April 2024

22nd April 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 Dish of the day Admissions: Delistings: What’s baking in the oven? ** Potential**** Initial Public Offerings: Reverse Takeovers: 16 April 2024: Electric Guitar (ELEG.L) Concurrent with its Admission to trading on AIM, Electric Guitar is proposing to acquire the entire issued share capital of 3radi

LIBERUM: CEO Video: Matt Wragg, Gattaca plc:

VSA Morning Flow Test 19/04/24 (Quadrise)

Quadrise (QED LN) has provided an update on its Utah project with Valkor. Valkor’s partner (Heavy Sweet Oil LLC) has received funding and approval to commence drilling enabling production of 20-40bopd of heavy sweet oil providing QED with samples for production of test scale quantities of MSAR and bioMSAR; the company’s key fuel decarbonising emulsion fuel products. This should derisk the commercial scale ramp up. QED management has highlighted that Valkor has not yet raised the minimum of US$

Q1 Operating Results

Another Good Year of Diversified Growth with More to Come in 2024 CCapital have released their Q1 operating results. Overall, revenue has come in slightly lower than expected at $80.2m vs TamE of $85.9m but is largely tracking in line with our FY24 annual estimate and we note the company has maintained guidance. Drilling revenue for this quarter was impacted by a fall in utilisaztion rates as well as general remobilisation geographically but we expect a strong recovery throughout the year as k

AUCTUS ON FRIDAY - 19/04/2024

AUCTUS PUBLICATIONS ________________________________________ Tethys Oil (TETY SS)C; target price of SEK100 per share: Increasing further the size of the prize/Considering Algeria – The South Lahan area on Block 58 is estimated to hold 55-523 mmbl prospective resources (P90-P10 case) with a mean case of 251.8 mmbbl prospective resources across six prospects in the Ara Carbonate. Combined with the previously disclosed prospective resources of the Fahd area in the north-eastern part of Block 58, Te

Jersey Electricity - Decarbonisation fuelling growth

Jersey Electricity (JEL) is intensifying its focus on energy security and electrification across Jersey by creating opportunities to accelerate growth. It successfully navigated the volatile wholesale power price environment in 2020–23, shielding its customer base from the worst inflationary pressures. However, from 2025, as older, more favourable hedges expire, this protection will diminish. Therefore, we have marginally reduced our earnings forecasts to account for the increased exposure to wh

SP Angel . Morning View . Copper prices hold higher as China processing fees fall below $0/t amid low feedstock availability

Hybridan Small Cap Feast - 14 Mar 2024

Banquet Buffet*** Abingdon Health 9.25p £11.3m (ABDX.L) The lateral flow contract development and manufacturing organisation announces its unaudited interim results for the six months ended 31 December 2023. Revenue increased 117% to £2.4m (H1 2023: £1.1m). The Adjusted EBITDA loss decreased 47% to £1.2m (H1 2023: £2.2m). Furthermore, reduction in operating loss of 50% to £1.2m (H1 2023: £2.4m). The Board therefore expects that H2 2024 revenue will be significantly improved compared with H1 2024

Quadrise+ (QED, House Stock at 1.4p) - Drilling to commence in Utah project

Morning Note – 26 March 2024

Billington Holdings - Record result boosts dividend; forecasts upgraded

FY23 results show very strong growth over FY22, driven by strong Structural Steel activity, with results slightly ahead of upgraded profit expectations, while stronger than expected cash flow resulted in an unexpectedly generous dividend of 33p (offering a FY23 yield of 7.0%). The group now has net cash of £22.1m and is debt free and is therefore in a strong position for potential M&A activity. Following the recent £90m of new orders to increase the order book to record levels we conservatively

Plant Health Care - China distribution with AMVAC

Plant Health Care announced it has signed a distribution agreement with AMVAC, an American Vanguard Company, to support commercialisation of novel fertiliser products incorporating Plant Health Care's Harpinαβ in China starting in 2024. The novel product combines Harpinαβ technology with an AMVAC fertiliser and is expected to help growers improve crop quality and yield as part of an integrated and environmentally responsible crop production programme. AMVAC continues to evaluate Plant Health Car