Although renewable energy has been gaining increasing traction over the past decade as the costs of renewable energy generation and perhaps more importantly, energy storage have fallen, 2020 was a seminal year for transitional energy investors driven by governments seeking to “build back better” after COVID-19. The US has committed US$2.25trn largely focused on the energy transition while the EU has committed US$0.54trn with companies around the world including China committing to net zero targe
Companies: LAM FSJ TGP PRES JMAT CRPR NEXS VLX
Centaur Media (CAU LN) AGM statement – trading in-line | Elektron Technology (EKT LN) Hidden value | GlobalData (DATA LN) Exploiting the GlobalData model |Horizon Discovery Group (HZD LN) Possible offer by Abcam illustrates attractive growth prospects | James Fisher & Sons (FSJ LN) Trading in line; good contract momentum | Springfield Properties (SPR LN) Acquisition of Dawn Homes to accelerate growth
Companies: CAU CKT DATA FSJ SPR
Future (FUTR LN) Results underline change and opportunity | IndigoVision Group (IND LN) Trading behind expectations; Chief Exec leaves | James Fisher & Sons (FSJ LN) Outlook unchanged; Offshore Oil recovery delayed | Sanderson Group (SND LN) Scaling up the Enterprise division | Speedy Hire (SDY LN) Earnings enhancing acquisitions | Vernalis (VER LN) Reduction in cough cold forecasts | WYG (WYG LN) UK challenges prompt further downgrades
Companies: SDY VER FSJ IND WYG SND FUTR
Fisher has reported an encouraging set of interims this morning, in line with our expectations. Revenue is +13%, PBT +6% and the interim dividend +10%. The outlook statement suggests the Group is well on track for the full year. Notably, the offshore oil business is seeing some improvement (“clear signs of recovery in orders for the Norwegian and downhole equipment businesses”). Stronger growth is anticipated in H2, which is consistent with our forecasts (9% PBT growth forecast for full year ve
Companies: James Fisher and Sons plc
UK nuclear represents a huge and complex market offering significant long-term opportunities. New build nuclear is required to help meet rising UK power generation needs and replace generation capacity which is nearing end of life. Decommissioning is essential to clean up the UK’s legacy nuclear sites safely and securely, prioritising areas where deteriorating buildings present an unacceptable risk. The total budget for nuclear is estimated at c.£301bn, with a significant proportion of this spen
Companies: AUG FSJ WYG DRV CARR SFR PRV RHL
Futura Medical (FUM LN) Multiple licensing discussions underway | Low & Bonar (LWB LN) Solid Q1, trading in line | Nuclear options Significant long-term opportunities for UK companies | RhythmOne (RTHM LN) Trading update – profit and cash ahead | Uncovered Gems - Speed Dating Lunch A Famous Five for the future?
Companies: AUG FSJ WYG LWB FUM DRV PIM BYOT CARR SFR PRV BHRD GFIN RHL RTHM
Craneware (CRW LN) Interims to show momentum building | Elementis (ELM LN) Positioned to revive growth | James Fisher & Sons (FSJ LN) Solid results | MySale Group (MYSL LN) Growth platform established, momentum building | NCC Group (NCC LN) Rob Cotton steps down | Raven Russia Ltd (RUS LN) Short delay to St Petersburg portfolio acquisition
Companies: RAV CRW FSJ ELM MYSL NCC
This is an interesting bolt on acquisition in a new area for the Group but adjacent to other services and servicing similar customers with cross selling opportunities. This is another example of a distressed situation (SeaEnergy plc administration) throwing up opportunities for James Fisher. We make no change to numbers at this stage. We also note the c.10% share price fall in recent weeks; given the strength of contract momentum and solidity in core operations, we feel that there are strong inv
Goals Soccer Centres (GOAL LN) Strategic review / Placing – our initial take is mixed | James Fisher & Sons (FSJ LN) Bolt-on acquisition | Oxford BioMedica (OXB LN) R&D collaboration with Green Cross LabCell | Sigma Capital Group (SGM LN) New strategic partnership with Keepmoat | Summit Therapeutics (SUMM LN) Q1 2017 results | Verona Pharma (VRP LN) Full year results highlight period of impressive development | Xaar (XAR LN) Launch of Thin Film/P4 and strategic partnership
Companies: GOAL FSJ SGM OXB
There has been a number of significant contract wins at the start of FY16 which has confirmed James Fisher’s growing reputation in a number of different market sectors. Whilst Offshore Oil remains subdued, the other areas of the portfolio are performing extremely well; we retain FY16 forecasts and upgrade both FY17 and FY18 PBT by £0.5m to reflect the contract contribution. We expect the strength of recent contract momentum to continue to drive the re-rating of the shares.
accesso Technology (ACSO LN) Consistent growth, increasing margins and few risks | Earthport (EPO LN) Solving a $9.3bn+ problem | Gresham Computing (GHT LN) Positive AGM statement | Howden Joinery Group (HWDN LN) Strong trading in recent 8 weeks. Low end f/casts to edge up | James Fisher & Sons (FSJ LN) Trading in line | NCC Group (NCC LN) Strong revenue growth, margins lower | Oxford BioMedica (OXB LN) Final results and portfolio review | Redde (REDD LN) Strong trading continues in H2 | Sepura
Companies: ACSO EPO GHT HWDN FSJ NCC SEPU SYNT VCT OXB REDD
This significant nuclear win confirms that the James Fisher Nuclear business is increasing in profile and importance within the sector. It is particularly good news in an area where many more opportunities of this ilk should be on the horizon. It. We expect a positive AGM update on 28th April.
BOOHOO.COM PLC (BOO LN) FY16 beat expectations, good start to FY17, and long term potential | FISHER(JAMES)& SONS PLC (FSJ LN) Contract win confirms increasing nuclear profile | HORIZON DISCOVERY GROUP PLC (HZD LN) FY results in line with expectations
Companies: boohoo group Plc (BOO:LON)James Fisher and Sons plc (FSJ:LON)
This significant contract win is further confirmation of James Fisher’s global leadership in submarine rescue as well as in integrated marine services generally. It drives significant upgrades of 9.2% in FY17 (first full year) and 8.2% in FY18 and again emphasises the value of the breadth of the Group’s portfolio. We expect this to further drive the re-rating of the shares towards a P/E of 20x.
As we had anticipated, James Fisher’s portfolio of niche businesses has significantly mitigated the challenges faced by the Offshore Oil division. A strong end to the year means that FY15 results were 4% ahead of expectations and ongoing positive activity in Marine Support and Specialist Technical allows us to upgrade forecasts by 2%, despite an expectation of no oil related improvement. This is extremely encouraging and should reassure those who have considered FSJ as a standard oil services bu
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The forthcoming UN Climate Change Conference (known as COP26) should result in an acceleration of governments’ actions to reduce CO2 emissions. This will result in an acceleration of customer end-user adoption rates which would be positive for AFC Energy which is developing zero-emission solutions for the EV-charging, construction, data centre and marine markets.
Companies: AFC Energy plc
ITM yesterday announced a capital raise of £250m to expand its capacities significantly. This comes sooner than we expected and seems like an opportunistic move to capture the market. The company will use the proceeds to expand its capacities to 2.5GW from 1GW by 2023 and to 5GW by 2024. The remainder of the proceeds will be used to reduce H2 production costs and to build an unparalleled support service. Overall, we are positively surprised.
Companies: ITM Power PLC
Another record quarter – Guidance lifted again
Capital Limited LSE: CAPD) this morning announced its Q3 2021 trading update. Quarterly revenue of US$$61.6 million exceeds our expectations and represents another record quarterly result for the company beating Q2, itself a previous record, by 12.6%. As a result, full year guidance has been lifted to $220 – 225 million (up from $200 – 210 million guided in July and $185 – 195 million with the FY20 results).
Companies: Capital Limited
Avingtrans has invested £2.5m in cash in Adaptix Ltd to acquire a 5.9% holding by participating in Adaptix’s latest £12.9m funding round. Adaptix is looking to transform radiology by bringing to market its low cost, low dose portable imaging technology based around its proprietary Flat Panel X-ray Source (FPS). Avingtrans intends to collaborate with Adaptix to develop a disruptive business offering that envisages bringing together its low cost 3D MRI, through Magnetica, with Adaptix’s 3D X-ray a
Companies: Avingtrans plc
Seeing Machines, the advanced computer vision technology company that designs AI-powered operator monitoring systems to improve transport safety, has announced that it has established a European sales team, headquartered in Amsterdam, to lead the next phase of its business development and focus on growing demand in Europe for its Aftermarket driver safety technology, Guardian.
Gerard van den Houten has been appointed to head up the European team and comes to Seeing Machines with a strong sales
Companies: Seeing Machines Limited
No Joiners Today.
Cambria Autos has left the AIM following a takeover.
What’s cooking in the IPO kitchen?
Light Science Tech Holdings, the controlled environment agriculture technology and contract electronics manufacturing Group to join AIM. Raising £5m. Expected mkt cap £17.4m. Due 15 Oct.
Harmony Energy Income Trust to join the Specialist Fund Segment of the Main Market raising up to £230m. The Company's investment objective is to provide investors with an attractive and susta
Companies: VRS ORPH SNG MRL EBQ AVG
Several stars have aligned for Brickability to flag an excellent half year's trading (to end Sep-21) in its latest update. Post-COVID recovery in housing markets, the natural seasonality of the business, favourable timing of acquisitions (notably Taylor Maxwell), output price inflation (especially in timber) and business mix all combining to drive revenue to three times the reported H1/20 level and EBITDA twofold ahead. This sets a strong foundation to ratify existing FY21 (March) forecasts with
Companies: Brickability Group PLC
Avon Protection has indicated that management guidance for FY21 revenue and EBITDA margin has been achieved before an additional one-off, non-cash inventory write-down of around $4m in ballistics. Cash generation was better than anticipated after record levels of investment and order intake remained strong despite previously indicated pandemic delays. The healthy opening backlog underpins strong growth in FY22 as ballistics revenues ramp up, Team Wendy makes a full year contribution and EBITDA m
Companies: Avon Protection PLC
Light Science Tech Holdings (LST.L), the controlled environment agriculture technology and contract electronics manufacturing Group has joined AIM. Raising £5.2m. Market Capitalisation approximately £17.4m.
No Leavers Today.
What’s cooking in the IPO kitchen?
Gymshark has started to put together plans for a stock market listing according to City A.M. The company hit a £1bn valuation just over a year ago and boasts customers in more than 130 countries. Gymshark was founded by teen
Companies: NWT LTG ITM POW
Brent crude topped $85 a barrel in London for the first time since 2018, the latest milestone in a global energy crisis that has seen prices soar.
West Texas Intermediate for November settlement rose 97 cents to settle at $82.28 a barrel in New York.
Brent for December delivery added 86 cents to settle at $84.86 a barrel.
The global benchmark rose above the key level in intraday trading but did not settle above it on Friday. US crude futures posted an eighth straight weekly
Companies: FO 88E DEC EME GTC TRIN UOG WEN
TMT Acquisition (TMTA.L) has joined the Main Market (Standard) pursue opportunities to acquire businesses in the technology, media and telecom sector. Raised £5m, mkt cap £5.5m.
NMCN Plc has left the Main Market (Premium) following the appointment of administrators.
What’s cooking in the IPO kitchen?
Harmony Energy Income Trust to join the Specialist Fund Segment of the Main Market raising up to £230m. The Company's investment objective is to provide investors with an attractive
Companies: SEE FST ORCP DNL FDBK 8091 IGP
Imperial Helium (IHC CN)C: Smaller resources but good well test results could suggest a commercial development – At the IHC-Steveville-2 well, a 12 metre zone was tested at a rate of ~2 mmcf/d. This zone is an interval equivalent to the blow-out zone in the offsetting 13-22 well. While the headline flow rate might appear low, it is in reality a good result that suggests that the well can be brought into production at 5-6 mmcf/d at leas
Companies: AKRBP AKERBP CASP GENL GTE HUR IHC KOS LUPE PEN PEN TAL RBD EGY DNO DNO JKX
Companies: DeepMatter Group Plc
Directa Plus, the leading producer and supplier of graphene nanoplatelets based products for use in consumer and industrial markets, has announced that it has qualified for an additional €0.5m loan under the Italian Government's Covid-19 Recovery Plan. The funds are additional to the €0.7m loan announced on 2 August 2021. The €0.5m loan has a term of six years, a variable interest rate of 1.5% + EURIBOR 3M and is 80% guaranteed by the Italian government.
Companies: Directa Plus Plc
AFC Energy hosted its maiden Capital Markets Event yesterday, giving an excellent summary of its progress in the last year and its prospects. The company is making good progress in commercialising its EV charging product alongside ABB and should be ready for market in 2022. We believe the long-term prospects for the company remain exciting.