Interim results to 30 June 2021 highlight the continuation of the recovery seen in H2 FY20. The Group’s Professional & Financial Services (PFS) division delivered an outstanding performance with strong demand for its services across all sectors. It moved from a loss of £2.9m in H1 FY20 to an operating profit of £3.1m in H1 FY21. The performance of Stock & Inventory Systems & Services (SISS) was adversely impacted by lockdowns in the period. Despite this, it reported a sharp reduction in operatin
Companies: Christie Group plc
What a difference a year makes - 12 months ago, the focus, quite understandably, was on the course of the pandemic and the lifting of the Lockdown (1) measures. For investors, it was the sustainability of the rally in markets seen since March 2020. Today, while we are still thinking about the lifting of lockdown measures, we are also concerned about two “old favourites” from previous decades. Inflation and the parlous state of public finances. The BoE has said that although CPI inflation rose to
Companies: AEMC BVC BAG BRSD BWNG CBOX CEG CTG CLG CML CRPR DNK EML ESC FAR FA/ GPH INSE MTW MOTR MMAG NRR NESF NMCN NSF OTMP OBD SAVE SCS STVG SNX SYS TMG TGL VLS VOG WYN
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
Foresight Group , the award-winning infrastructure and private equity investment manager has IPO’d on the Main Market (Premium). Offer price announced today at 420p . £455m market cap. £35m new money, £192m sell down. As at 30 September 2020, Foresight Group had AuM of approximately £6.8 billion and managed 292 infrastructure assets and 104 private equity investments on behalf of 33 Foresight investment vehicles. Foresight Infrastructure accounted for 90.2% of the Company's AuM (Foresight P
Companies: DXSP AMYT KRPZ ESO CGNR DUKE TPX CTG GOOD MRL
Interims to 30 June reflect the significant impact of the COVID-19 pandemic on the group’s operations. Revenues fell 50% to £18.8m and the group reported an operating loss of £5.5m (H1-19 profit £1.5m). The reduction is entirely attributable to the impact of the business interruption due to the pandemic. The group lost an entire quarter’s revenue and availed itself of the various government support schemes. Cash collection /retention remained strong, with cash & cash equivalents of £13.4m, inclu
Companies: FLTA AEG RNWH CTG UFO SYME THW SQZ
FY 2019 results reflect a positive year for the group. Revenues rose by 2.6% to £78m and operating profit increased by 41% to £5.8m. Professional & Financial Services division reported a 10% increase in operating profit to £6.2m, including an incentive fee relating to the successful disposal of the Wyevale Garden Centre portfolio. Stock & Inventory Systems & Services experienced a challenging period, reporting a loss of £2.0m. Trading in FY2020 started well but stalled following the outbreak of
Techniplas –global producer and support services company providing highly engineered and technically complex components, making the supply chain to original equipment manufacturers more efficient. FYDec17 rev $515m. Loungers plc—the operator of 146 café/bar/restaurants across England and Wales under the Lounge and Cosy Club brands, announces its intention to seek admission on AIM, offer TBC, expected late April. SDX Energy plc—a North Africa focused oil and gas company, announces its int
Companies: SML CYAN AFM ASO TWD DNL CTG RNO HVO NBI
Parliamentary and Brexit developments continue to hold centre stage, although the precise path forward remains as unclear as ever. The uncertainty over Brexit, worries over a possible slowdown in the US and the outlook for global economic growth generally have all contributed to the recent falls in markets. While the rally seen since the start of the year has petered out, most indices have still made progress. In Share News & Views we comment on Bloomsbury Publishing, Bonhill Group*, Braemar Shi
Companies: RUA APC BONH BMS CTG CRPR DMTR ESC EUSP FDM FA/ LWRF LSAI NKTN PCF SNX TCN VRE W7L
We have seen a continuation of the rally evident so far this year. The factors are familiar with greater optimism regarding US-China trade talks. At home, the path to Brexit remains unclear as D-day looms. The possibility of a delay has increased. The company reporting season continues to highlight winners and losers with the majority of results in line. We have also seen an uptick in corporate M&A. Results set the morning agenda and Brexit votes the evening one. In Share News & Views we comment
Companies: RUA APC BONH BMS CTG CRPR DMTR ESC EUSP FDM FA/ LSAI NKTN PCF SNX TCN VRE W7L
Roses are red – markets are blue! The rally since the start of the year resumed this week, after a pull-back last week. The FTSE 100 has risen due to the weakness of sterling and the impact on its dollar-earning constituents. More domestically-oriented indices have also risen but lagged more recently. The latest Brexit twist is due later with a statement to Parliament on the negotiations. Company news continue to dominate the morning headlines and amendment votes the evening ones. In Share News
We have seen a continuation of the rally seen since the start of the year, although some earlier momentum has been lost. The factors that influenced the market previously continue to dominate – US-China trade talks and the outlook for the global economy. The latest hurdles in the Brexit Withdrawal Bill are due later. Company updates dominate the morning headlines, late night votes dominate the evening ones. In Share News & Views we comment APC Technology*, Bonhill Group*, Braemar Shipping*, Esca
Companies: RUA APC BONH BMS CTG CRPR DMTR ESC EUSP FDM FA/ LSAI NKTN SNX TCN VRE W7L PCF
It may only be a fortnight into the new year but many of the factors that unnerved the market last month have continued to impact sentiment. The outcome of trade talks between the US and China, concerns about global economic growth and some poor trading statements, especially in the retail sector, have all featured. Above all, Brexit and the progress of the Withdrawal Bill have dominated with the latest “high noon” due later. Despite this, we have seen a good rally in the junior markets year to
Companies: RUA APC BONH BMS CTG CRPR DMTR ESC EUSP FDM FA/ LSAI NKTN PCF SNX TCN W7L
The instruction to “Deck the halls with boughs of holly” may represent a grateful relief, given the prickly time we have seen in markets over the last month or so. An unhelpful combination of the deadlock surrounding the Brexit process, concerns over the outlook for the global economy and some poor company results have resulted in all markets falling further. The impact on our universe is clear from the table below with AIM taking the significant pain. In Share News & Views we comment on APC*, C
Companies: RUA APC BONH BMS CTG CRPR DMTR ESC EUSP FDM FA/ NKTN PCF SNX TCN W7L LSAI
Research Tree provides access to ongoing research coverage, media content and regulatory news on Christie Group plc. We currently have 36 research reports from 4 professional analysts.
Joiners No Joiners Today. Leavers Arrow Global has left the Main Market following a takeover. St Peter Port Capital has left AIM after entering a solvent members' voluntary liquidation of the Company. What’s cooking in the IPO kitchen? Light Science Tech Holdings, the controlled environment agriculture technology and contract electronics manufacturing Group to join AIM. Raising £5m. Expected mkt cap £17.4m. Due 15 Oct. Harmony Energy Income Trust to join the Specialist Fund Segment of the Main M
Companies: CZA ADME AAU GAL GGP IQE PCIP YOU
Joiners No Joiners Today. Leavers Cambria Autos has left the AIM following a takeover. What’s cooking in the IPO kitchen? Light Science Tech Holdings, the controlled environment agriculture technology and contract electronics manufacturing Group to join AIM. Raising £5m. Expected mkt cap £17.4m. Due 15 Oct. Harmony Energy Income Trust to join the Specialist Fund Segment of the Main Market raising up to £230m. The Company's investment objective is to provide investors with an attractive and susta
Companies: VRS ORPH SNG MRL EBQ AVG
Companies: Science Group Plc
Sureserve Group is a market-leading energy services and compliance business, installing, improving, maintaining, and inspecting equipment in public sector housing, schools, and other public buildings. It benefits from stable, low risk revenue and cashflow thanks to its predictable contracts and >97% public sector client base. It also enjoys a strong balance sheet, with no debt or pension liabilities, and pays a dividend. There are also many organic and inorganic growth drivers, making for a ver
Companies: Sureserve Group 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
This morning's H1 announcement reflects a 6-month period during which VDTK faced a number of challenges, notably (1) economic uncertainty, (2) postponement of projects in the pipeline due to Covid restrictions, and (3) theft of stock from the Lainate plant leading to a £300k write off. Including the stock charge, the company has reported a post-tax loss of £1.2m, similar to or better than, on an underlying basis, the £0.9m loss recorded in H1-20A. All of this said, however, the period also saw
Companies: Verditek Plc
Next Fifteen’s H1 results have provided more colour on the strong financial performance indicated in the recent trading update. All the group segments are delivering strong YoY organic growth, bolstered by recent acquisitions. The performance of the Delivery segment continues to be eye-catching, especially in terms of margin. As previously flagged, the structural margin gains from property and post pandemic cost efficiencies have now been fully captured with the group now re-investing back into
Companies: Next Fifteen Communications Group plc
Ariana Resources (AAU LN) – Approval of Tavsan EIA Aura Energy* (AURA LN) – Chairman's letter in Annual Report highlights potential for uranium Cornish Metals* (CUSN LN) – Appointment of a non-executive director Rambler Metals and Mining* (RMM LN) – Conversion of loan note Tertiary Minerals* (TYM LN) – Second phase of trenching expands the Pyramid Project
Companies: CUSN AEE AAU RMM TYM
Last week's announcement from VDTK highlighted noteworthy achievements on the product front, notably moving its “first generation” lightweight solar panels from 260 Watts per panel to 300 Watts. In line with previous announcements, and our research published in February, this ramp up is now moving up to 350 Watts per panel, marking a 35% increase in per panel efficiency from the original baseline 260W. The second generation product will have a complete new certification process, a given since
Coral products announced a trading update for the year just ended (April 2021). Revenue will have been slightly higher than our estimate (£10.7m v 10.0m) and pre-exceptional profit bang in line at £0.7m. The exceptional profit – from selling two businesses and their profits generated during the year – will be significantly higher at £2.3m (we had estimated only £0.7m).
Companies: Coral Products plc
Although renewable energy has been gaining increasing traction over the past decade as the costs of renewable energy generation and perhaps more importantly, energy storage have fallen, 2020 was a seminal year for transitional energy investors driven by governments seeking to “build back better” after COVID-19. The US has committed US$2.25trn largely focused on the energy transition while the EU has committed US$0.54trn with companies around the world including China committing to net zero targe
Companies: LAM FSJ TGP PRES JMAT CRPR NEXS VLX
Enteq has strong medium-term growth prospects given the recovery in its existing markets, growth in new geographic markets and the introduction of new products, we argue. The new products, especially the SABER Rotary Steerable System, look potentially game-changing – extending its addressable market and transforming the investment case. The company’s FY results highlight trading has stabilised with some recovery expected, with net cash equal to c51% of market cap. New management has rejuvenated
Companies: Enteq Upstream PLC
Franchise Brands has announced interim results that are well ahead of DCe on every metric and that FY results will be ahead of expectations, leading us to upgrade our FY21 PBT forecast by +9%. All areas of the group rebounded as the UK reopened, with revenues increasing +19% at Metro Rod, +11% at Willow Pumps and +32% in B2C. Further, we believe the group is well positioned to benefit as the UK continues to unlock in H2. The Digital Transformation programme announced at the FY20 results continue
Companies: Franchise Brands plc
Westminster Group has reported interim results, highlighting recovery in existing operations and with new growth initiatives and contracts which provide an attractive outlook for the next 12 months. Pent up business development activity should start to crystallise through the second half, underpinning 2022 earnings. Buy
Companies: Westminster Group plc
