Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on HANSARD GLOBAL PLC. We currently have 31 research reports from 2 professional analysts.
|17Feb17 16:40||RNS||Second Price Monitoring Extn|
|17Feb17 16:35||RNS||Price Monitoring Extension|
|13Feb17 16:40||RNS||Second Price Monitoring Extn|
|13Feb17 16:35||RNS||Price Monitoring Extension|
|26Jan17 07:00||RNS||New Business Results|
|19Jan17 07:00||RNS||Strategic Alliance in the UAE|
|17Jan17 12:02||RNS||Price Monitoring Extension|
Frequency of research reports
Research reports on
HANSARD GLOBAL PLC
HANSARD GLOBAL PLC
Sales recovery continues
26 Jan 17
Following good Q1 sales figures, Hansard has reported another good sales performance in Q2 that was ahead of our forecast. Sales in Q2 at £41.0m (+11%) PVNBP were 6% ahead of our forecast whilst H1 sales at £74.9m (+33%) were also well ahead. The new strategy continues deliver even though the comps have become considerably harder. In our view the shares remain very attractively priced trading at a 24% discount to our 2017F EEV NAV of 140p/share despite the 8.5% dividend yield. We therefore maintain our Buy recommendation and 143p target price.
New Strategic Alliance and Q2 Sales forecasts
19 Jan 17
Hansard has entered into a strategic alliance with Union Insurance, a major local insurer in the UAE. Hansard will reinsure and administer Union’s new savings and investment proposition ‘Infinity’ which will be launched next month. On Thursday 26th January Hansard will publish its sales for the 3 months to 31 December 2016. We are forecasting H1 2017 PVNBP sales at £72.4m (+28%) including Q2 at £38.5m (+5%). In our view the current share price epresents an excellent buying opportunity given that the shares are trading at a large 28% discount to EEV NAV despite a very attractive 8.8% 2017F dividend yield.
Panmure Morning Note 10-11-2016
10 Nov 16
Hansard has reported yet another strong sales performance for the 3 months to 30 September with PVNBP sales at £33.9m (+73%) slightly above our £32.6m forecast. The Middle East & Africa and Rest of the World regions performed particularly well with growth of 150% and 95% respectively. Whilst the comps will get tougher further out, it is worth highlighting that whilst traditionally Q1 sales tend to be lower than Q4, this year they are slightly above. A strong capital position together combined with a sales strategy that is delivering reinforces our view that the current valuation is wrong. The shares are trading at a 29% discount to 30 June 2016 EEV NAV of 143p/share is way too great hence our Buy recommendation and 40% upside to our target price.
Conviction List Q4 2016
05 Oct 16
Since its inception in 2010, the Conviction List has outperformed the market in 13 of 18 periods and a reinvested Conviction List would have returned 255% against a Small Companies index that would have returned 130%. Our Conviction List returned 3.7% over the last quarter; this was set against the benchmark UK Small Companies index that returned 11.3% over the same period. Our Q4 portfolio reflects our outlook for a temporary sweet spot for UK growth during the second half of 2016. The downside risk from the uncertainty of the EU Referendum result has been countered by stimulus from the Bank of England, signs of a looser fiscal stance and an 18% YoY reduction in the Sterling Exchange Rate. Compressed corporate fixed income spreads continue to provide a valuation underpin for global equities.
2016 – An encouraging performance
22 Sep 16
The full year results to 30 June 2016 were generally in line with our forecasts with the EEV NAV (key to the valuation) at £196m or 143p/share at 30 June (31 Dec 2015: 138p) compared to our 136p/share forecast. The underlying IFRS profit at £9.2m was slightly below our £11.7m forecast reflecting a number of factors including strong new business sales at £119.3m almost double that of the prior year. We have trimmed our EPS forecasts accordingly. The final dividend of 5.3p/share (+1%) made 8.90p/share (+2%) for the full year slightly below our 9.12p forecast. Current trading appears to be going well with sales in Q1 2017 ahead of that in the comparative quarter last year. The continued strong outlook for sales combined with a better than anticipated EEV NAV has led us to increase our target price from 124p/share to 143p/share. We maintain our Buy recommendation highlighting the 2017F 6.5% dividend yield.
13 Feb 17
Surface Transforms* (SCE): H1 results confirm operational progress (CORP) | Premaitha Health* (NIPT): European diagnostics partnership (CORP) | Lok'nStore* (LOK): Filling existing stores, developing new ones (CORP) | Victoria* (VCP): Entry into the European flooring market (CORP) | eg solutions* (EGS): Exceptional H2 performance (CORP)
Share & share alike
14 Feb 17
The rally in the last fortnight, highlighted in the table, reflects a continued flow of positive updates and economic news. The FTSE 250, Small cap and Fledgling indices have reached record highs. We are in the lull ahead of results for those companies with a December year end, a welter of economic data regarding the UK economy, the State of the Union address in the US on 28 February and the UK Budget on Wednesday 8 March. We will learn at that stage the latest forecasts from the Office of Budget Responsibility. As highlighted previously, the reaction to corporate updates will continue to set the tone.
Small Cap Breakfast
16 Feb 17
Saffron Energy—Schedule One update. Raising £2.5m, expected Mkt Cap £7.7m. Admission due 24 Feb. Italian Oil & Gas Play Guinness Oil & Gas Exploration—Publication of prospectus. Seeking to raise £50m and invest in 15 exploration companies at launch, with plans to grow the portfolio to 30 positions during its lifetime. Issue closing 23 Feb. Arix Bioscience — Intention to float on the main market from the global healthcare and life science Company supporting medical innovation. Raised £52m in Feb 16 with investors including Woodford Investment Management
Small caps best insulated from macro headwinds
15 Feb 17
The Diverse Income Trust (DIVI) invests in UK stocks from across the market cap spectrum that have strong prospects for sustainable dividend growth. This all-cap income generating strategy was developed by Gervais Williams and Martin Turner of Miton Asset Management. The c 145 stock portfolio provides a broad spread of investments and has a strong bias towards dividend-growing smaller companies. In terms of NAV total return, the trust has generated +125% over five years, ranking it second in its 23-strong peer group (the Association of Investment Companies’ UK Equity Income sector). Since launch, DIVI’s annual dividend has grown from 2.0p in FY12 to 2.8p in FY16 and it has built a substantial revenue reserve.
Small Cap Breakfast
15 Feb 17
Xafinity –Publication of prospectus. The pensions actuarial, consulting and administration business has conditionally raised £179.6m. At 139p. Due to join main market 16 Feb. Guinness Oil & Gas Exploration—Publication of prospectus. Seeking to raise £50m and invest in 15 exploration companies at launch, with plans to grow the portfolio to 30 positions during its lifetime. Issue closing 23 Feb. Arix Bioscience — Intention to float on the main market from the global healthcare and life science company supporting medical innovation. Raised £52m in Feb 16 with investors including Woodford Investment Management
A growth and value opportunity
14 Feb 17
Shares in TMT are some 20% off their year highs and trading at an 11% discount to the last reported NAV of $1.91/share as at 30 June 2016. News flow since then suggests continued positive performance of the portfolio, with the most significant reported value event being the recent revaluation of Pipedrive accretive to NAV per share by circa 14.7c. TMT invests in high growth private companies and as such valuation events are relatively infrequent for its investee companies. Anecdotal evidence from some of TMT’s portfolio suggests that there remains significant value to be unlocked from certain investments, that will not yet meet the criteria for being recognised in the portfolio valuation as at December 2016. We highlight the key news events both reported by TMT, and those relating to its portfolio companies that we have identified since the last audited NAV was published.