Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on HARWORTH GROUP PLC. We currently have 7 research reports from 1 professional analysts.
|10Jan17 07:00||RNS||Trading Update|
|28Dec16 07:00||RNS||Update on Logistics North|
|09Dec16 10:19||RNS||Director/PDMR Shareholding|
|28Nov16 07:00||RNS||Appointment of Joint Broker|
|14Nov16 07:00||RNS||NW acquisition strengthens income portfolio|
|19Oct16 07:00||RNS||Harworth progresses plot sales|
Frequency of research reports
Research reports on
HARWORTH GROUP PLC
HARWORTH GROUP PLC
N+1 Singer - Harworth Group - Robust interims; FY16 expectations reiterated
06 Sep 16
Harworth has announced a robust set of interims. NAV increased by 10.4% from H115 to £303m or 104p per share. This is 1.8% higher than the FY15 outturn. EPRA NAV rose to 108p per share. While this represents fairly modest growth in the first half, full year expectations are explicitly reiterated, implying a stronger H2, which is customary for this Group (property disposals being H2 weighted). Management aspires to double digit growth per annum and we are forecasting 111p for FY16. We consider this an encouraging update, particularly in light of comments in the outlook statement that the post referendum hiatus in activity (housebuilders land buying etc) appears to be over. We retain our Buy rating for this regional property regeneration and investment specialist.
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.
Making Mobiles Better
17 Jan 17
Mobile phones are increasingly the key connection for the modern world. This means that the performance of mobile phones, and their networks, is going to become more critical for all the apps and businesses that rely on them. New technologies such as VR, AR, and AV will need better, more reliable connections to really move into the mainstream. In this thematic piece we attempt to identify some of the most important issues facing mobile phone networks and their users, and start to identify solutions and enablers that will solve these problems and create value by doing so.
N+1 Singer - Morning Song 19-01-2017
19 Jan 17
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Small Cap Breakfast
19 Jan 17
SuperAwesome — The London based specialist in e-compliance is considering an IPO in its home town according to City A.M. Eco (Atlantic) Oil & Gas—TSX-V listed oil and gas exploration has announced its intention to float on AIM. Assets in Guyana and Namibia. Proposed £2m-£3m fundraise. Diversified Gas & Oil—According to LSE website first day of trading on AIM now expected for 30 January
N+1 Singer - Best Ideas 2017 - Top picks
04 Jan 17
Today we publish our Best Ideas for 2017 - 12 stocks that we believe have excellent prospects in the current year together with a detailed discussion of what we see as the key sector and market themes for 2017. Our top picks are Cineworld, Elementis, Herald Investment Trust, Hill & Smith, IQE, MySale, Redde, ReNeuron, RhythmOne, SDL, Servelec and Severfield.
N+1 Singer - Harwood Wealth - FY16 EBITDA 11% ahead, positive strategic progress
24 Jan 17
Harwood Wealth (“HW”) has delivered final results which showed EBITDA 11% ahead of our forecasts and successful execution of the consolidation strategy with 17 acquisitions in FY16 using IPO proceeds. The board has declared a maiden final dividend of 2p (payable in May) from cash generation. £10.5m net cash leaves the business well positioned to continue to pursue acquisition opportunities. Based on previous multiples paid, we estimate HW has cash resources to materially increase EBITDA complemented by organic growth. HW reports a positive start to FY17e.
N+1 Singer - Northern lights - Shining prospects for 2017
16 Jan 17
As the birthplace of Stephenson, Armstrong and Swan, the North East of England has a proud history of industrial and technological innovation. Despite local economic challenges, the region’s industrial heritage lives on through continuing success in high end engineering and technology. The recent takeovers of private equity backed SMD (subsea robotics) and Nomad Digital (wi-fi on the railways) are testament to this. The North East has also emerged as a leader in genetics and genomics with an enviable life sciences and healthcare infrastructure. Against this backdrop, we expect the region to continue to throw up attractive IPO candidates to build on the six new listings in the past three years. We expect 2017 to be far kinder to the existing portfolio of North East plcs than 2016 (a year to forget) with recent management changes one important theme for the new year. Our top picks are Hargreaves Services, Quantum Pharma and Zytronic (all N+1 Singer Corporate clients) and we are Buyers of Northgate and Grainger.