Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on HARWORTH GROUP PLC. We currently have 6 research reports from 1 professional analysts.
|09Feb17 07:00||RNS||Portfolio update|
|27Jan17 10:00||RNS||Notification of Preliminary Results|
|25Jan17 07:00||RNS||Capital Markets Event|
|10Jan17 07:00||RNS||Trading Update|
|28Dec16 07:00||RNS||Update on Logistics North|
|09Dec16 10:19||RNS||Director/PDMR Shareholding|
Frequency of research reports
Research reports on
HARWORTH GROUP PLC
HARWORTH GROUP PLC
N+1 Singer - Morning Song 19-10-2016
19 Oct 16
Bioquell (BQE LN) A cleaner proposition | Earthport (EPO LN) Baydonhill earnout agreed | ECO Animal Health Group (EAH LN) Approval of Aivlosin® for chickens laying eggs in Thailand | Harworth Group (HWG LN) Plot sales confirm strength of regional housebuilding market | IQE (IQE LN) Site visit confirms large growth opportunity | OMG (OMG LN) Core businesses trading strongly | Sanderson Group (SND LN) Strong finish to year highlights attractive valuation
24 Feb 16
Gooch & Housego (GHH LN) Subdued start to FY16, forecasts trimmed | Grafenia (GRA LN) Printing increasingly challenging, new initiatives gaining traction | Grainger (GRI LN) Positive updates, revising forecasts | Harworth Group (HWG LN) Momentum building into new year | Lavendon Group (LVD LN) Anticipating in-line outlook, but Middle East concerns likely to persist | OMG (OMG LN) FY’16 off to a good start | UDG Healthcare (UDG LN) More than just a safe port in a storm
Momentum building into new year
24 Feb 16
Harworth has released a confident set of FY15 prelims this morning. The financial performance is ahead of our expectations and the momentum with which the Group ended FY15 looks to have continued into the new year. Management has an excellent track record of unlocking value from the portfolio and ambitions to invest in new (former industrial) sites at a rate of £20m per annum over the medium term. A stated target of double digit post-tax returns on net assets looks highly achievable and underpins our Buy recommendation.
The Northern Powerhouse
18 Feb 16
aHarworth Group owns swathes of former colliery and industrial sites across the Midlands and North of England, which it is steadily transforming for commercial and residential development. The flagship site at Waverley, near Sheffield, is a shining example of what can be achieved. There, one of the largest coalfields in Europe is being remodelled as an attractive residential community and centre of excellence in advanced manufacturing. Management has an excellent track record of unlocking value from the portfolio. A stated target of double digit post-tax returns on net assets looks highly achievable. We initiate coverage at BUY ahead of FY15 prelims on 24th February. Our Target Price of 13p equates to <1.1x FY17 NAV.
21 Feb 17
Lighthouse Group* (LGT): Middle Britain growth (CORP) | Utilitywise* (UTW): Double-digit sales growth (CORP) | Trakm8* (TRAK): Earnings expectations cut again (CORP) | dotDigital* (DOTC): Myriad growth opportunities (CORP) | Artilium* (ARTA): Five-year Telenet deal secured and prepaid (CORP) | Netcall* (NET): Cloud investment pays off (CORP)
Industry fundamentals remain positive
21 Feb 17
The Biotech Growth Trust (BIOG) is a specialist vehicle, aiming to generate long-term capital growth via investment in global biotech stocks. Following a particularly volatile period for the biotech industry, where concerns about drug pricing and investor risk aversion have weighed heavily on stock prices, the managers are hopeful that greater clarity regarding US healthcare policy will lead to continued improved performance of biotech stocks. Industry fundamentals remain attractive, including continued innovation and valuations are very supportive, which offers the potential for higher industry merger and acquisition activity.
Lloyds, Best Of The Banks
23 Feb 17
Lloyds Banking Group PLC (LLOY) reported a strong result for FY-16, which has allowed it to pay a special dividend, plus has encouraged the UK government to reduce its stake in the bank to below 5%. Lloyds’ acquisition of the MBNA credit card business is proceeding on track, with all key M&A metrics being well satisfied. The outlook for Lloyds’ capital base, its profitability and thus the dividend prospects have all improved. This encourages us to ascribe a Buy rating to the stock, with a target price of 80p per share, derived from a prospective Price / Book value of 1.3x and a P/E ratio of 13x which we think are justifiable ratios.
Middle Britain growth
21 Feb 17
The Company has achieved our 2017 estimate in 2016 with EBITDA of £2.2m, up 37% on 2015. We upgrade our estimates by 10% at the EBITDA level in 2017. If the shares traded even at the lower end of comparators, they would trade at 17p. We expect the share price to reach our upgraded 17p price target in the short term. Few companies enjoy the unique positioning which Lighthouse has to benefit from the assets of Middle Britain.
Marked confidence in profitability resilience
22 Feb 17
LBG posted a good set of results at the operating level. Management showed its confidence in the group’s ability to protect its indecent profitability levels over the next three years by recommending an increased ordinary dividend and the payment of a special dividend, and by setting a stable return on required equity objectives.
N+1 Singer - Morning Song 21-02-2017
21 Feb 17
Abzena (ABZA LN) Contract bookings strong; US costs higher than expected | City of London Investment Group (CLIG LN) Earnings and interim dividend in line, some modest growth in FuM | dotdigital Group (DOTD LN) Good H1; broadening avenues of growth | Grafenia (GRA LN) Weak print volumes | Vernalis (VER LN) Interims highlight increasing Tuzistra™ scrip volume