Eagle Eye has today reported an encouraging trading update, beating market estimates, post the completion of FY21F. With the pandemic creating multiple problems for physical retailers and brands, Eagle Eye’s technology has supplied effective solutions, helping to accelerate the transition towards more omnichannel, digital-savvy business models. With accelerating growth during Q4 providing a strong start to FY22F, and, as the Group’s ambitious plans for expansion within the UK, the US and Austral
Companies: Eagle Eye Solutions Group PLC
The UK market showed a continued recovery in the first quarter albeit the indices are still well short of their all-time peaks, unlike many of their international peers. The FTSE 100 has risen by 1,186 points (21.4%) since the end of October and the FTSE 250 by 4,304 points (25.0%). The comparable performance since the start of the year is less spectacular- the FTSE 100 has risen by 253 points (3.9%) and the FTSE 250 has risen by 1,070 points (5.0%). The factors behind the sustained rally are fa
Companies: AMYT ARBB CEG BAG BVC BEG BONH BLVN BRSD CML CWK CRPR EYE ECHO FDM FAR FA/ GPH GSF HUW INSE JDG KAPE KP2 MACF MPAC MNZS NESF NBI OTMP OBD PREM QFI RUA SCS SEN SOS SUR TON TOU TXP TGL TCN UEM VLS WYN
Eagle Eye, a leading SaaS technology company that creates digital connections enabling personalised, real-time marketing through coupons, loyalty, apps, subscriptions and gift services, has reported its interim results for the six-month period ended December 2020 (H1 FY21). Overall, we see these results as testament to Eagle Eye’s growing importance in the omnichannel ‘loyalty’ market and its ability to remain financially strong throughout a challenging trading environment, caused by the COVID-1
The Budget offered a clear picture of the state of the economy. Put simply, the economy will be 3% smaller in three years’ time than it would have been without the impact of the pandemic. However, it is forecast to return to pre-pandemic levels by mid-2022, six months earlier than previously thought. The OBR forecasts that the UK economy will grow by 4.1% in 2021, (lower than the 5.5% outlined in November 2020). It has set its GDP forecasts in 2022, 2023 and 2024 at 7.3%, 1.7% and 1.6%. Positive
Companies: AMYT ARBB CEG BVC BEG BRSD BWNG CBOX CTG CLG CML CWK EYE ECHO EML ESC FBD FA/ GSF HTWS INSE JDG MACF MTW NESF NAVF NSF NBI OTMP PCF PPC QFI SAVE SEN SNX TGL UTL VLS WYN
In the last fortnight, we have surrendered some of the notable progress made over the last three months. That said, the optimism displayed by markets, driven by progress with vaccines and their rollout, persists. The recent direction of markets has been set by volatility in US markets, driven by specific retail market developments. Domestically, we have seen a broadly upbeat procession of results and trading updates/outlooks have, generally, been at least in line. The share price reactions have
Companies: AJIT ARW CEG BVC BAG BEG BON BWNG CLG CRPR EYE ECHO EPWN FDM FA/ GPH GNC HUW INSE KAPE KP2 MNZS NMCN NRR OBD PPC QFI ROL SAVE SCS SEN SOS SUR SNX TON TMG TGL TCN UEM VLS W7L WINK WYN
We highlighted last month the (first) Santa Rally arrived early (unlike some other festive gifts). The second Claus(e) relief rally was prompted by the agreement between the European Commission and the UK on its future cooperation with the EU. Markets also reacted positively to the $900bn stimulus package agreed in the US. While the FTSE 100 and FTSE 250 indices rose by 1.6% and 1.7% respectively on the first trading day after the holiday and the FTSE 100 has recovered 28% from its low point in
Companies: AMYT ARBB CEG BVC BEG BWNG CGI CLG CML EYE ECHO EPWN ESC FA/ GDWN GSF GNC HUW INSE KAPE KP2 NRR NBI NUC OTMP PPC QFI RQIH RUA SAVE SEN SNX TOU TXP TGL UPGS APGEF
In what we see as another positive strategic step in broadening the client list, Eagle Eye has announced that it has successfully signed a five-year agreement with Woolworths Group Limited in Australia and New Zealand, a retail and digital leader, for its AIR platform. During the global economic disruption of COVID-19, Eagle Eye has demonstrated that it can continue in its growth strategy and win a big enterprise resulting in another sizable growth opportunity, in our view. Eagle Eye is becoming
Tern plc* (TERN.L, 8.0p/£24.1m) | Corero Network Security (CNS.L, 8.25p/£40.8m) | Eagle Eye Solutions Group plc (EYE.L, 288p/£86.9m)
Companies: TERN CNS EYE
Eagle Eye, the technology-based consumer engagement solutions provider, a business partner bringing digitised e-commerce enabled relationships to all forms of merchants, has reported its full-year results for the 12 months to 30th June 2020 (FY20). The strong performance, in particular through the second half, delivered a better than expected outcome, as reflected in earnings and the net cash position. We observe Eagle Eye building strong foundations, continuing its growth and expanding its clie
Following on from Eagle Eye’s very positive recent trading update (29th May), which confirmed that momentum has continued during FY20F (despite the current Covid-19 challenged markets), we highlight the attractive valuation multiplies on which the Company trades. We have selected several different technology and software companies, which all tap into the large umbrella that is SaaS. Eagle Eye is a business with unique characteristics and has few competitors providing digital e-commerce engagemen
Eagle Eye, the technology-based consumer engagement solutions provider, a business partner bringing digitised e-commerce enabled relationships to all forms of merchants, has published its interim results for the six-month period ended 31 December 2019 (H1 FY20). This is a strong set of results, in our view, demonstrating positive momentum across all verticals of the business - proven success with highly referenceable clients and an exciting pipeline developing to progress the Company further in
Intention to float by Gemfields Group. No Capital Raise. Currently listed on JSE. (GML:JNB) at circa £122m. The Group's key producing assets, the Kagem emerald mine in Zambia (believed to be the world's single largest producing emerald mine) and the Montepuez ruby mine in Mozambique (one of the most significant recently discovered ruby deposits in the world), are both expected to have long mine-lives with potential for expansion. Also owns the Faberge brand. Due Valentines Day 2020.
Companies: ITX SPE EYE CNC ANX ONC NFC BOD FEN ECSC
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Kape has announced the sensational acquisition of ExpressVPN, a well-respected rival, for a total consideration of $936m, payable in cash and shares, subject to conditions. The dramatic move doubles Kape’s subscriber base (to c. 6m), delivers significant earnings accretion and marks another tour de force moment for the Group and its shareholders (following on from PIA in 2019 and Webselenese in 2021). Completion is expected to occur in Q4 2021. ExpressVPN represents a bullseye for Kape’s acquisi
Companies: Kape Technologies Plc
S4 Capital has reported hugely impressive H1 results that were ahead of our expectations. Gross Profit almost doubled to £236.7m, comfortably ahead of DCe and company budgets. LFL growth in the 'super strong' half was +49%, with an acceleration from +33% in Q1 to an astonishing +66% in Q2 against the CV19 trough comparative. This stellar growth rate has continued into the current quarter, with LFL growth of >50% in July and S4 Capital has raised its FY LFL guidance from 35% to 40%, the third inc
Companies: S4 Capital plc
Exactly one year ago, the FTSE 100 closed at 5,862, having fallen 100 points on the day, the lowest point since mid-May 2020, due in part, to the strength of sterling vs US$ at $1.34. One year on, the FTSE 100 has risen to 7,119, a rise of 21%, it remains 7% below the peak in January 2020. From an international viewpoint, US and European markets continue to trade at record highs. The US Federal Reserve is close to withdrawing some of its economic support this year as inflation picks up and the e
Companies: AMYT BAG BVC BRSD CLG CML FBD GDWN INV MACF MNZS MIO NRR NSF NBI MATD PREM QFI RUA SCS STVG SUR SNX UPGS VAST VLS
MAST Energy Developments (MED) is to IPO on the Standard List on 14th April 2021 under the ticker MAST. The company has raised £5m giving a market capitalisation on listing of c. £23m. MED is currently a 100% subsidiary company of AIM quoted, Kibo Energy*. MED was established to acquire and develop a portfolio of flexible power plants in the UK and become a multi-asset operator in the rapidly growing Reserve Power market. PensionBee has confirmed its intention to float on the High Growth Se
Companies: SYM CGNR EKF KBT GGP VLS TMO ECK B90 MDZ
Having successfully dealt with the challenges of COVID-19 to date, we believe The Mission Group (TMG) is primed to capitalise on a range of external growth drivers thanks to the fundamental strengths of its network of closely aligned, ambitious and entrepreneurial agencies. July’s pre-close statement points to another positive update later this month and we do not believe that this or, more importantly, the group’s strong EPS and DPS growth potential are close to being reflected in its current v
Companies: Mission Group Plc
STV’s interim results detail another very strong financial and operational performance, point to encouraging momentum going forward and reinforce our very positive view of its prospects and underlying strengths. We regard the group’s stock as materially undervalued with our fair value estimate of 516p suggesting 51% upside potential from current levels.
Companies: STV Group plc
Kape’s interims saw Group revenues rise +97% y/y to $59.0m (organic: +12%), driven by a 245% increase in Digital Privacy sales (+47% organic). Organic growth was stronger than anticipated in Digital Privacy, above N1Se estimates of 30%-40% as a function of strong end-user demand. CyberGhost (VPN) and Intego (end-point protection) subscriber bases grew +10% and +11% h/h respectively. The main takeaway is Kape’s inflection to positive FCF ($6.7m; H1’19: -$1.8m) alongside increased cash investment
As expected, Kape has delivered a strong set of results for FY20 – a year characterised by the successful integration of Private Internet Access (PIA) and associated cost synergies, and significant progress on product developments. The strong performance, with Adjusted EBITDA ahead of management’s initial forecasted range, in line with the January trading update, reflects twelve months of contribution from PIA as well as higher organic demand for privacy-based software solutions. Kape has moved
Companies: Time Out Group PLC
UMG’s spin-off and the sale of an additionnal 10% stake in UMG are progressing but Vivendi’s stock has not moved for a month and is quite stuck at just under c.€30. One may remain cautious indeed that once the distribution of 60% of UMG to Vivendi’s shareholders is done, many investors that had bought Vivendi to have a stake in the future listed UMG will probably sell Vivendi’s stock and this will weigh on it.
Companies: Vivendi (VIV:EPA)Vivendi SE (VIV:PAR)
Amazon agreed on Friday evening to buy the broadcasting sports rights of the French football Ligue 1 for 2021-24.
This is not good news for Canal+ but won’t have any major impact on Vivendi’stock which has not moved for a month and is quite stuck at €29-30 while waiting for UMG’s spin-off. One may remain cautious that, once the spin-off is done, investors that had bought Vivendi to have a stake in UMG will probably sell Vivendi’s stock.
Kape’s trading update for the first half of its current financial year confirms that the Group continues to show strong growth in line with management’s expectations for the full year. Consequently, we leave our estimates – which sit in the existing guidance range for revenue and Adj EBITDA – unchanged. The integration of Webselenese is ‘progressing well’ and has already realised a reduction in average customer acquisition costs for the Group. We also note the recent content provision agreement
Reach’s interims were strongly ahead of SCM estimates for H1 sales and EBITDA, by 5% and 4% respectively. Digital sales (23%/revs) grew 43% y/y to £69m supported by 150% y/y growth in unique registrations to 6.7m, whilst underlying Print decline decelerated to just -5% y/y (H2’20: -18%; H1’20: 20%) as weaker comparatives were lapped. The Group has posted positive sales growth for the first time in a number of years, rising +3% y/y (like-for-like) to £302.3m, and delivering AOP of £68.9m (Margins
Companies: Reach plc
Yesterday the CEO of UMG performed the show to convince us that UMG is entering a new growth cycle. Its IPO should be a success and the EV of €35bn retained for the recent sale of 7% of its capital will probably be the floor price for its IPO.
So, today to own Vivendi is to obtain at the end of September a high-growth UMG share and a share of a new Vivendi with a balance sheet strong enough to withstand selling pressures.
Comscore had another bad quarter with its second-quarter revenues of $87.7 million, down from $88.6 million last year.The company’s core Ratings and Planning revenues dropped by $1.4 million as compared to the same period of last year and their syndicated digital revenues were also lower on account of weak international business. The share of TV revenues as a part of the total top-line grew on account of the slowness in the syndicated digital business. The company’s relatively smaller Analytics
Companies: COMSCORE (SCOR:NYSE)comScore, Inc. (SCOR:NAS)