Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on TUNGSTEN CORP PLC. We currently have 3 research reports from 1 professional analysts.
|30Jan17 07:07||RNS||Director/PDMR Shareholding|
|10Jan17 10:41||RNS||Holding(s) in Company|
|22Dec16 07:00||RNS||Completion of Bank Sale|
|21Dec16 12:55||RNS||Holding(s) in Company|
|20Dec16 09:35||RNS||Director/PDMR Shareholding|
|14Dec16 07:00||RNS||Half-year Report|
|16Nov16 07:00||RNS||Sale of Tungsten Bank Receives Regulatory Approval|
Frequency of research reports
Research reports on
TUNGSTEN CORP PLC
TUNGSTEN CORP PLC
Focusing on growth and efficiency
19 Oct 16
Tungsten Corporation remains in its investment phase as it builds out its e-invoicing and related services. However, a little over a year since the appointment of Rick Hurwitz as CEO, there are real signs of operational progress with price increases, greater focus underlined by the expected sale of Tungsten Bank, and reorganisation and technology investment to achieve efficiencies. This should help deliver operational gearing and a move into EBITDA profitability during CY17 as Tungsten capitalises on the growth potential in the e-invoicing and related markets.
EBITDA breakeven forecast reiterated
24 Feb 16
At its recent capital markets day (CMD), Tungsten reiterated its financial targets and presented some of the measures it is undertaking to achieve them. If the business develops as it expects, Tungsten believes its current cash resources should be enough to allow it to meet its targets, while the cash resources tied up in its bank give it leeway. Tungsten is renewing its invoice financing initiative with a new, experienced leader to start in April 2016, with a wide-ranging strategy for winning business. It remains convinced about the long-term profit potential of these businesses. Tungsten’s shares have performed strongly since the start of the year and we estimate the market is applying a cost of equity of c 11% to its cash flows, down from c 24% when we initiated in January.
A renewed focus on efficiency
28 Sep 15
At Tungsten’s AGM its new CEO, Richard Hurwitz, announced that he is undertaking a thorough review of Tungsten’s operations to accelerate growth and improve on cost efficiency. Its strategic objectives remain unchanged and profit guidance given in July, to break-even in FY17, remains in place. Its ownership of Tungsten Bank remains under review. A more detailed review of the CEO’s proposals will be presented when the interim results are announced in December 2015.
Another positive verdict
20 Mar 17
Burford’s results for 2016 produced another outstanding set of figures. Revenue grew by 60% to $163.4m with strong growth in the litigation finance business and an additional boost from a secondary sale in the Petersen case. On an underlying basis net income grew to $114m, a 75% increase despite the investment in growing capacity which increased costs. A combination of ongoing investment and gains and increases on valuation saw the fair value of the litigation assets increase 67% to $559m, underpinned by a growth in invested capital to $394m. With the results statement there was an announcement of a further sale of 9% of the Petersen case at a valuation of 20 times the cost of investment.
N+1 Singer - Morning Song 22-03-2017
22 Mar 17
Carador Income Fund (CIFU LN) Premium rating restored, high levels of refinancing activity | Cello Group (CLL LN) Outlook getting brighter – watch Pulsar | Eckoh (ECK LN) Largest ever US secure payments win | eg solutions (EGS LN) Full year results in line | Futura Medical (FUM LN) Licensing deal for CSD500 in Portugal | Verona Pharma (VRP LN) Global agreement with QuintilesIMS to support development of RPL554 | Xaar (XAR LN) 2016 results slightly ahead, reduced visibility in 2017
Small Cap Breakfast
23 Mar 17
K3 Capital Group—Schedule 1 from the Group of business and company sales specialists across business transfer, business brokerage and corporate finance. Admission date and fundraise details TBC. Integumen— Schedule 1 from the personal health company developing and commercialising technology and products for the human integumentary system. Raising £2.16m at 5p. Expected market cap £8.16m. Admission expected 5 April. Sentinel—Investment company expecting NEX admission/introduction on 24 March. £636k raised pre-IPO. BioPharma Credit—Expected Gross Initial Acquisition Proceeds now c.$338m. Gross Cash Proceeds capped at $423m with placing and open offer. Results expected 23 March with admission now due 30 march.
N+1 Singer - Morning Song 23-03-2017
23 Mar 17
eg solutions (EGS LN) Re-focusing on sales is delivering rewards | Futura Medical (FUM LN) FY results: continued clinical, regulatory and commercial progress | Halfords Group (HFD LN) Confidence in FX mitigation grows; stay at BUY | IFG Group (IFP LN) Top line growth but earnings pressures remain | Realm Therapeutics (RLM LN) FY results in line; on track for Phase II start in 2017 | Safestyle UK (SFE LN) Another good full year performance but valuation up with events | WYG (WYG LN) Mixed conclusion to FY17, reassuring FY18 outlook