Hybridan Small Cap Feast - 10 Mar 23

10 March 2023 @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 objectiv

Hybridan Small Cap Feast - 06 Feb 23

06 February 2023 @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 objec

SHORE CAPITAL - Bonhill Group+ (BONH, House Stock at 7p)

Hybridan Small Cap Feast 09/03/2022

December 2022 @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 objectiv

This Week's AIM Highlights 9th December

Hybridan Small Cap Feast 02/11/22

Dish of the day Joiners: Cooks Coffee Company Limited (NZX:CCC) has joined the Access Segment of has dual listed joining the Access Segment of the AQSE Growth Market under the ticker COOK. Cooks Coffee has a total of 111 outlets in the UK, Ireland and across its international markets. It is the 4th largest coffee chain in the UK (behind Starbucks, Costa and Caffè Nero). The company currently owns the Esquires Coffee and Triple Two Coffee Brands. Esquires was founded nearly 30 years ago and Cooks

SHORE CAPITAL - Bonhill Group plc+ (BONH) - House Stock at 6p

SHORE CAPITAL - Bonhill Group plc (BONH) - House Stock at 5p - Re-focused on delivering

SHORE CAPITAL - Bonhill Group plc+ (BONH) - House Stock at 5p - Interim results and updated forecasts

SHORE CAPITAL - Bonhill Group plc+ (BONH) - House Stock at 5p - BSG disposal reinforces financial services focus

SHORE CAPITAL - Bonhill Group plc+ (BONH, House Stock at 6p) Board changes solidify leadership team

SHORE CAPITAL - Bonhill Group plc+ (BONH, House Stock at 6p)

SHORE CAPITAL - Bonhill Group plc+ (BONH, House Stock at 7p)

FY22 Results Update

S4 Capital has reported FY22 results slightly ahead of our forecasts and we broadly maintain our EBITDA forecast and trim PBT/EPS due to higher interest charges.

Hybridan Small Cap Feast - 21 Mar 23

21 March 2023 @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 objectiv

Cenkos: XLMedia Plc -- Annual Results In-Line

XLMedia announced full-year results in-line with the January trading update and with our expectations. XLMedia's reformation as a US Sports-led business continued to take shape over the year and still holds significant future growth opportunities. XLMedia trades on an FY1 Adj EV/EBITDA multiple of 2.5x, which is a significant discount to UK marketing peers on 6.5x.

Hybridan Small Cap Feast - 14 Mar 23

14 March 2023 @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 objectiv

SHORE CAPITAL - The Mission Group+ (TMG, House Stock at 53p)

SHORE CAPITAL - Mission Group+ (TMG, House Stock at 53p)

SHORE CAPITAL - The Mission Group (TMG) - House Stock at 55p - Full year results - raising the bar

LIBERUM: Time Out* - Digi-physical model on a path to profitability

SHORE CAPITAL - Pebble Group^ (PEBB, Buy at 109p)

CentralNic (CNIC LN) - Growth opportunities ahead

CentralNic delivered 2022 results slightly ahead of our upgraded estimates and expects to surpass expectations for the year ahead. Strong gross margins indicate that signs of increased competition or pricing pressure in the Online Marketing division are limited. Indeed, the division’s organic growth accelerated to 86% from 65% in 2021. The company’s strong growth appears set to continue, particularly with a new management team that is more focused on developing new growth opportunities. We belie

Cenkos: XLMedia Plc -- Hitting Expectations

XLMedia released a full-year trading update to 31 December 2022 in-line with our expectations. FY22E revenues came in at $73.7m and Adj EBITDA c$16.1-16.6m. The Group has continued to successfully pivot its focus from European Gaming to US sports to take advantage of the significant expansion opportunities. European Gaming revenues have notably stabilised in H2/22E and could once again provide a source of growth. XLMedia trades on an FY2 Adj EV/EBITDA multiple of 2.7x, which is a significant dis

FY'22: Controlling the controllable

Reachs prelims are consistent with the January update, with revenues of £601m (-2% y/y) and AOP of £106m (-27% y/y). Positive underlying progress was offset by programmatic headwinds in 2022; a trend reflected across global ad leaders where growth decelerated by 15-40pps y/y. This, coupled with anomalous energy/Print material costs and wage inflation put pressure on the content industry as a whole. In this context, a stable top-line and profit margins of 18% (FY21: 24%; FY18: 20%) look resilient

CentralNic Group - Clarifying the narrative

CentralNic is a UK software company, operating globally through its two businesses, Online Presence and Online Marketing. Through a series of acquisitions, Online Marketing has become the group’s primary driver, delivering high double-digit revenue and profit growth year-on-year since the group’s first foray in 2019. Now at critical mass, the business is positioned for sustained organic growth, allowing management to prioritise capital allocation and shareholder returns, while maintaining high m

Hybridan Small Cap Feast 20/05/22

Dish of the day Joiners: No Joiners Today. Leavers: No Leavers Today. What’s cooking in the IPO kitchen? Psych Capital PLC, intends to list on the AQSE Growth Market. Psych operates the Psych Platform (a business-to-business networking platform), that is developing the Blossom Database pursuant to a third party licensing arrangement. The Company also has an investment of 426,000 common shares in Awakn, a Canadian NEO Exchange listed psychedelics research and clinical group, with operations in th

Hybridan Small Cap Feast 13/09/2022

Dish of the day Joiners: No joiners today. Leavers: Avast Plc has left the Premium Segment of the Main Market. What’s cooking in the IPO kitchen?** Fintech Asia, an investment company established to acquire businesses in the Fintech sector, primarily targeting the Asia-Pacific region, intends to join the Standard Segment of the Main Market. The Company has raised £1.455m through the placing of 3,010,000 ordinary shares of no par value, with net proceeds of £841,845. Expected 15 September. Ikigai