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One Media iP has released a robust set of FY21A to 30th October 2021, with an Adj EBITDA of £1.7m (11% YoY increase). This was £0.1m below our forecast, driven by a delay in deployment of capital into new catalogues in FY21. Whilst the past financial year operated under the uncertain market brought about from Covid, the Group continued to consistently acquire catalogues and the pipeline for future acquisitions remains strong. FY22E have been adjusted to account for the delay in the deployment of
Companies: One Media iP Group PLC
One Media iP (OMiP) has released a robust FY21E trading update, with Adj EBITDA of £1.65m; slightly below our forecast of £1.8m, owing to it taking a little longer to deploy cash raised on acquisitions of new royalty assets, and adverse foreign exchange movements. The company ended the period with £0.7m of net cash (vs our forecast of £0.3m of net debt), leaving further financial resources available for acquisitions heading into FY22E. Applying a conservative 8x Net Publisher Share (NPS) multipl
One Media iP (OMiP) has released a solid set of H1/21A interim results, with revenue up 8.5% YoY in USD terms. The company has been active on the acquisition front, having deployed £4m of capital so far in FY21E (mostly post period end), and the pipeline remains strong. OMiP has a highly scalable platform, which should result in steadily improving margins as the group adds new royalty streams to its portfolio, and remains well-placed to benefit from the structural growth underway in the music in
One Media has released strong FY20A results, with Adj EBITDA up c28% to £1.6m, comfortably beating our forecasts (FY20E £1.3m), boosted by strong consumer demand on streaming platforms. Whilst COVID-19 has meant a slight delay to the closure of acquisitions, the pipeline remains strong, and we expect a number of deals to complete in H2/21E. We release new forecasts for FY22E (Adj EBITDA £2.2m), with growth driven by further increases in demand for streaming, new service offerings (eg TCAT), and
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Weekly round-up of AIM-listed healthcare news.
Venture Life Group, GENinCode, Kromek, Alliance Pharma, Polarean Imaging, Benchmark Holdings, Ondine Biomedical, Verici Dx, Faron Pharmaceuticals, Avacta Group, Abingdon Health, Open Orphan, Belluscura, Hutchmed (China), Oxford Biodynamics
Companies: ANIC RUA CREO GENI HEIQ IHC IXI IUG OPTI SBTX VAL VLG
Vertu has released an AGM Trading update that communicates a continuation of the strong trading announced on 11 May. The trends of constrained supply and high margins continue. We leave forecasts unchanged today, but this positive update for the first third of FY23 helps to underpin our full year forecasts.
Companies: Vertu Motors PLC
Companies: XP Factory PLC
No Joiners Today.
Raven Property Group has left the Main Market.
What’s cooking in the IPO kitchen?
Immediate acquisitions (IME.L) is to re-join AIM via a Reverse Takeover of Fiinu Holdings Limited. Once complete the Company is proposing to change its name to Fiinu Group plc. Fiinu intends to be a provider of a consumer banking product, the Plugin Overdraft ®, which is designed to provide customers with an overdraft facility without having to change their current account or req
Companies: TRB CWR CCS DMTR EMAN GTC JSE KIBO MDZ SYM
Results met previously downgraded expectations. Despite the challenges, including disruption from Brexit and weak performance in Europe (c45% of sales), profitability remains well above pre-covid levels (6% EBITDA margin) and it has a strong pipeline of exciting growth initiatives landing this year. So, although downgrades have disappointed and triggered a de-rating, this is far from the end of the story. On good execution these initiatives will bolster G4M’s long term potential and open up a pa
Companies: Gear4music (Holdings) PLC
Singer Capital Markets
Companies: Marks and Spencer Group plc
1 July 2022
Status of this Note and Disclaimer
This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment objectives
Companies: VTU ADME ARCM LVCG MANO NMT PGH SLE
Revenues grew to £1.1m, driven by sponsorship signings. Loss before tax increased to £5.0m but the company expects losses to reduce going forward due to continued growth in sponsorship revenues and cost-cutting (-20%). Net cash was £6.1m the end of March and £6.5m currently (£3.5m net of accruals). The company is in discussion with relevant parties regarding this year’s £3m fee to Footwork Productions Limited, a David Beckham company.
Companies: Guild Esports PLC
In the June edition of Zeus’ Video Games quarterly report, we note that sector activity has declined for a second consecutive quarter but that activity remains well above pre-pandemic levels. Share prices have fallen across all subsectors with the Continental European PC and Console focused subsector topping performance and the UK PC and Console focused subsector lagging in the quarter. In the current environment, earnings reliability and diversity are being valued at a premium, leading to highe
Companies: DEVO TBLD GILD
This morning's results illustrate a robust performance in a challenging time for the wider sector, this reflects the strength of the Various Eateries concepts and structural changes taking place across the industry. We anticipate the new site pipeline will continue to build and that management's experience will be key in successfully managing the various headwinds faced by the industry. With the strategy remaining unchanged, a focus on the highest quality sites and the size of the opportunity ha
Companies: Various Eateries Plc
Ajax Resources (AJAX.L) a special purpose acquisition company established to deliver shareholder value through the acquisition of businesses or production and development assets in the energy and natural resources sector, joins the Main Market. Raising gross proceeds of £1,342,000 at a price of £0.04p per IPO Share, of which the Board of Directors has invested an aggregated amount of £130k.
No leavers today.
What’s cooking in the IPO kitchen?
Financials Acquisition Corp, a spec
Companies: SEMP ACC BLU CAML IPX MAST MKA SDX AFC BOKU
Despite no further surprise in terms of the H2 capacity outlook, easyJet’s H1 trading update pleased the market with a better-than-expected pre-tax headline loss. It is worth highlighting the group’s more-than-robust pricing power, which is expected to largely offset the unhedged fuel costs and the recent activities disruptions/cancellations at UK airports.
Companies: easyJet plc
Pittards is a specialist producer of technically advanced leather and luxury goods for retailers, manufacturers and distributors. The group has this morning released full year results to 31 December 2021, in line with February's trading update, and marking a return to profitability after a particularly challenging FY 2020A. The group has continued to invest in new production equipment to broaden both its product ranges and end market exposure. While we have cautiously increased our underlying co
Companies: Pittards plc
Walmart had another rock solid quarter with a revenue growth of 7.6% in constant currency and a staggering 24.1% growth in operating income at constant currency. Moreover, Walmart Connect, their advertising business in the United States, more than doubled in size as compared to the prior-year quarter, with more than 170% growth in active advertisers. The management provided a series of interesting updates with respect to various innovative initiatives. Their latest investments aim to increase as
Companies: Wal-Mart Stores (WMT:NYSE)Walmart Inc. (WMT:NYS)