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Headline 4Q numbers for JSC BOG, the Group’s main operating entity, were already known and the Group results released this morning were inline. However, the detail is supportive, highlighting continued strong franchise growth against the backdrop of an economy that is expected to grow by 5% this year. Depreciation of the Belarusian Ruble weighed slightly on Group revenue growth. However, excluding this, we would highlight the better than expected 19% increase in fee income in the quarter, driven
Companies: Bank of Georgia Group Plc
Cavendish
Companies: Distribution Finance Capital Holdings Plc
Liberum
Alkemy Capital offers investors access to a potentially very attractive stream of dividends from large scale processing of critical minerals for the European and global battery industry. The initial project, Tees Valley Lithium, will build the UK’s largest independent lithium refinery, processing high value imported intermediate material into battery grade product. The plant is being developed within Teesside Freeport; full planning permission, environmental permits and feedstock agreements have
Companies: Alkemy Capital Investments Plc
Zeus Capital
The focus of Hardman & Co Research is on the nine quoted Infrastructure Investment Companies (IICs) and on the 22 Renewable Energy Infrastructure Funds (REIFs): the stocks analysed are all members of the Association of Investment Companies (AIC). We are updating our publication of January 2023, assessing both the lacklustre share price performances during 2023 and the key issues, including interest rates, inflation and power prices. As a 31-strong group, its combined market capitalisation is no
Companies: AEIT ROOF DGI9 INPP GSF SEIT USFP HICL ORIT BSIF TRIG NESF SEQI HEIT GRP GCP FSFL 3IN AERI PINT RNEW BBGI GSEO DORE TENT GRID CORD HGEN AEET
Hardman & Co
EML Payments has agreed to sell Sentenial to GoCardless for an enterprise value of €32.75m/A$54.1m. As Sentenial is currently loss-making, the disposal will be earnings and cashflow accretive to EML in year one. Proceeds from the sale will be used to reduce debt and strengthen EML’s balance sheet. This disposal combined with the liquidation of PFS Card Services Ireland (PCSIL) leaves EML as a more focused group specialising in prepaid cards, with all remaining businesses profitable and cash gene
Companies: EML Payments Ltd.
Edison
Companies: Amedeo Air Four Plus Limited
18th March 2024 @HybridanLLP 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 object
Companies: TXG SEE OHG Z29 TXG ENSI MTL POS PYC TUNE CMCL SENX AEE
Hybridan
Gresham House Energy Storage Fund (GRID) is the largest UK fund investing in utility-scale battery energy storage systems (BESS). A recent sharp decline in gas prices, a ‘disappointing’ start to the Energy System Operator’s (ESO’s) new energy trading platform and systemic delays connecting completed projects to the national grid have raised concerns about the revenue generating capacity of the BESS sector. This has placed significant downward pressure on the share prices of GRID and others in th
Companies: Gresham House Energy Storage Fund Plc GBP
The key feature of Primary Health Properties’ (PHP’s) 2023 results was the further acceleration in rental uplifts, rising at the fastest pace for 15 years. This is driving organic earnings growth to fully cover progressive dividends, which are now in the 28th year of unbroken increase.
Companies: Primary Health Properties PLC
Companies: H&T Group plc
Shore Capital
Companies: Ramsdens Holdings PLC
Companies: LSL Property Services plc
Agronomics (ANIC) invests in cellular agriculture companies. Since mid-2022 it has placed increasing emphasis on companies using precision fermentation technology or providing contract precision fermentation services, as these appear to have greater near-term commercial potential than cultivated meat and seafood. Agronomics’ NAV has risen almost 100% since the inception of the current strategy in April 2019, and looks set to increase further as the company’s portfolio holdings receive regulatory
Companies: Agronomics Limited
NextEnergy Solar Fund (NESF) is almost 10 years old. Since launch, it has built a £1.2bn, 933MW portfolio of 100 operating solar assets, powering the equivalent of over 330,000 homes, declared dividends totalling £333m, and avoided the emission of about 2.2 Mt CO2e. NESF is on track to pay 8.35p in dividends, with forecast dividend cover of about 1.3x. Share price weakness that has afflicted the whole sector means that dividend translates to a yield of 11.1%, one of the highest in its sector, a
Companies: NextEnergy Solar Fund Ltd
QuotedData
On 12 March, PCI Pal successfully completed an oversubscribed placing to raise £3.5m through the issue of 6.25m new ordinary shares at a price of 56p. After H1 results showed revenue growth +20% yoy to £8.7m, the group’s first period of EBITDA profitability since relaunch in 2016, and a confident outlook, the raise will enable management to invest in US and EMEA expansion, and strengthen the net cash position. Following North America H1 revenue growth of +38% yoy to £3.1m, over half of the proce
Companies: PCI-PAL PLC
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