Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on COATS GROUP PLC. We currently have 8 research reports from 1 professional analysts.
|10Mar17 09:32||RNS||Annual Financial Report|
|02Mar17 12:41||RNS||Director/PDMR Shareholding|
|01Mar17 14:46||RNS||Director/PDMR Shareholding|
|01Mar17 07:00||RNS||Total Voting Rights|
|27Feb17 10:25||RNS||Director/PDMR Shareholding|
|27Feb17 10:23||RNS||Director/PDMR Shareholding|
|24Feb17 07:00||RNS||2016 Full Year results|
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COATS GROUP PLC
COATS GROUP PLC
FY16 ahead, estimates nudged up
10 Mar 17
A busy year for Coats concluded with progress on earnings and pensions. There is more to be done on both but with pension distractions substantially resolved and good cash credentials there are more strategic options available to management. The valuation has begun to normalise now and the return to dividend payment contributes to this.
Pensions progress and dividend returns
19 Dec 16
Coats has agreed terms (subject to final settlement) for two UK defined benefit (DB) pension schemes, representing 90% of UK DB scheme liabilities. This clarifies the underlying balance sheet position and ongoing cash profile. Coats retains a strong financial position, with good earnings growth prospects and a likely return to the dividend list from FY17.
Increasing business focus to highlight valuation
17 Aug 16
Operating performance was more in focus in H116 given relatively lower-level distractions from non-trading items. Underlying margin increases were achieved by both divisions with little overall assistance from markets. Greater clarity on the group pension position – and the implications for future strategic investment and dividend payouts – is edging closer. Valuation multiples are little changed and remain low on P/E and EV bases.
Mixed trading conditions, further pension progress
19 May 16
Trading in the first four months of FY16 largely mirrors management’s balanced outlook comments with the FY15 results, and EBIT guidance is unchanged. We have reduced PBT estimates slightly to reflect the latest pension scheme recovery plan update. Progress in resolving legacy issues is welcome and the large Coats scheme is next to be addressed.
31 Mar 16
Coats Group’s rating does not reflect its global market position, which is being further developed by business investment. The resolutions of legacy issues (chiefly pensions and environmental) have seen some forward steps over the last year and more are expected during FY16. Although the timing and extent of these are still to be determined, they will bring greater clarity to the company’s underlying valuation.
On track for FY15 progress
20 Nov 15
Recent group trading has been broadly in line with H1, albeit with some variation within the detail. Our estimates are unchanged and will be reviewed again at the year end. P/E multiples remain in single-digits from FY16. We note Coats’ intention to delist from ASX and NZX next year.
N+1 Singer - Morning Song 21-03-2017
21 Mar 17
accesso Technology (ACSO LN) Full year results in line, but key trading months still ahead | Augean (AUG LN) Double digit growth in ’16, good start to ‘17 | Earthport (EPO LN) Interims show continued top line strength | Goals Soccer Centres (GOAL LN) Good momentum under new team. It’s now all about delivery | IQE (IQE LN) FY’16 results prompt further upgrades | Microsaic Systems (MSYS LN) Challenges in 2016, strategy remains in place | mporium Group (MPM LN) Funds raised to help execute strategy | RhythmOne (RTHM LN) Dawn of the independents | ScS Group (SCS LN) Strong progress on key growth initiatives albeit comps now toughen | Sinclair Pharma (SPH LN) FY results: EBITDA ahead, Instalift™ gaining pace | Vectura Group (VEC LN) FY (9-month) results
N+1 Singer - Augean - Double digit growth in ’16, good start to ‘17
21 Mar 17
Augean reported another year of double digit growth for 2016, with profits in line with our forecasts. Sales grew by 21% excluding landfill tax, while adjusted PBT grew by 18% to £7.1m before amortisation of acquired intangibles. DPS was increased by 54% to 1.0p, 25% ahead of our estimate. The business units made further strategic progress, with revenues from their top 20 customers increasing from 42% to 43% of the total, of which 88% was under contract or a framework agreement, increasing forward visibility. There has been an encouraging start to 2017 and management is confident of delivering another year of profits growth. The shares trade on undemanding single digit multiples, offering good value.