Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on REDCENTRIC PLC. We currently have 39 research reports from 3 professional analysts.
|23Jan17 07:00||RNS||Exercise of Options|
|19Jan17 02:55||RNS||Holding(s) in Company|
|17Jan17 04:04||RNS||Holding(s) in Company|
|10Jan17 07:00||RNS||Appointment of Non-Executive Director|
|03Jan17 02:35||RNS||Director/PDMR Shareholding|
|30Dec16 12:55||RNS||Issue of options (revised)|
|30Dec16 12:47||RNS||TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES|
Frequency of research reports
Research reports on
Interims: restoring forecasts
11 Jan 17
Redcentric released interims before Christmas, with an analyst meeting this morning, however no new related news is available. The extent of the accounting misstatement has already been quantified at £20.8m, of which £5.9m related to the interim period ending September 2016, relating to accounting practices, policies, and errors regarding cost accrual, cost deferral, and revenue recognition. Having withdrawn original forecasts with the initial revelations, we reintroduce amended forecasts, assuming that the forensic accounting investigation has uncovered the issues, and having been corrected that 2H17 performance (to March) continues to replicate performance in 1H17 (to September 2016), as management guidance indicates. Target 117p.
11 Jan 17
Joules Group (JOU): Strong festive trading (BUY) | Shoe Zone (SHOE): Tough FY16 could be just the beginning (HOLD) | H&T (HAT): Alternative lender emerging (BUY) | Omega Diagnostics* (ODX): ISO accreditation received for Pune, India (CORP) | Redcentric* (RCN): Interims – restoring forecasts (CORP)
N+1 Singer - Redcentric - Update on forensic review
14 Dec 16
Redcentric has provided an update on the forensic review following the discovery of misstated balances in the group’s balance sheet. The cumulative overstatement of net assets and profits after tax up to 30 September 2016 is c.£20.8m. Management currently believe that c.£5.9m of this misstatement (£4.7m at the EBITDA level) arose in the six months ended 30 September 2016. The group’s previous indications had been that all issues related to prior periods. H1’16 revenue is now expected to be c.£53.0m with EBITDA of c.£9.1m. The average net debt position over the past 8 months to November 2016 was £42.0m. This is materially higher than originally reported. The group expects to report its interim results before 31st December which will provide more detail on the forensic review and remedial action plan. Our forecasts and recommendation remain Under Review until the full detail can be released.
Making Mobiles Better
17 Jan 17
Mobile phones are increasingly the key connection for the modern world. This means that the performance of mobile phones, and their networks, is going to become more critical for all the apps and businesses that rely on them. New technologies such as VR, AR, and AV will need better, more reliable connections to really move into the mainstream. In this thematic piece we attempt to identify some of the most important issues facing mobile phone networks and their users, and start to identify solutions and enablers that will solve these problems and create value by doing so.
Panmure Morning Note 18-01-2017
18 Jan 17
Blancco technology, a leading provider of data erasure solutions and mobile device diagnostics, has announced that its underlying profits are ahead of expectations. Organic sales growth remains strong, the group continues to win larger ticket orders and the mobile diagnostics is performing ahead of plan. Consequently, we are raising our FY17 PBT forecast from £8.0m to £8.3m.
N+1 Singer - NCC Group - Interims confirm underlying business sound
19 Jan 17
NCC’s interim results were largely flagged in the detailed trading update released in December. Group revenue increased 35% to £125.8 (organic growth +18%) and adj. EBITDA grew 15% to £21.3m. The group’s issues relating to contract losses/deferrals in the period were previously announced and are already included in our forecasts. The group has maintained its interim dividend at 1.5p, which we believe is an indication of the strong underlying business. Separately, NCC has announced that Paul Mitchell intends to step down as chairman in May ’17. We continue to believe that NCC remains a highly attractive asset in an area seeing strong structural growth and see the current share price weakness as an opportunity. We retain our Buy recommendation and 233p target price.
N+1 Singer - dotDigital Group - Trading update
17 Jan 17
dotDigital issued a trading update for the six months ended 31 December 2016, indicating revenue growth up 17% y-o-y to £15.0m with EBITDA in line with market expectations and on track for the full year. Cash has grown to £18.9m. Revenue was slightly light of expectations owing to a slower start in the US but Q2 already showed improvement with a strong pipeline building. Our EBITDA and EPS forecasts are unchanged but revenues trimmed by 4% for both years. There is much activity in broadening avenues of growth in terms of new connectors, partnerships and geographical footprint and we remain positive of its prospects. Interim results will be released on Feb 21.