Discover the latest content that has just been published on Research Tree
Companies: 4BB IGP TRMR TRI
Trifast has released FY22 interim results which show strength of recovery in end markets and reflect headline commentary from the trading update on 21 October. The outlook is optimistic and the Group's strategy is increasingly validated through market share gains and resulting financial performance. Buy
Companies: Trifast plc
Interim results show a strong bounce-back in trading levels across all of Trifast’s territories and end customer markets, with light vehicles highlighted as gaining market share. Supply chain challenges saw input cost rises, which had a temporary impact in H1, but due to price rises gross margins should normalise in Q4. Higher inventories partly explain the shift back into net debt of £5.1m. No change to forecasts. We maintain our 187p price target, with the shares trading at a discount to its p
Companies: ALU EOG SOLI TRI
The group’s H1 update signals that the post pandemic rebound continues, with H1 revenues expected to show a c.30% increase, and revenues and profits in line with expectations. Some supply chain issues and input cost inflation are being experienced and passed on to customers with a temporary impact on H1 gross margins, but should end the year at normalised levels. No change to underlying trading forecasts, with forecasts upgraded to reflect the recent acquisition of Falcon. As such, we raise our
Trifast has released a good interim trading update ahead of its interim results due on 23 November. Overall trading has been in line with management expectations at “both revenue and profit levels” since the AGM update in July although this belies the strength of the Group's top line performance in our view. We remain buyers.
Companies: PEB QTX TRCS TRI
The group’s AGM statement highlights a strong rebound in activity during Q1, with improved market demand, helped by new customer and project wins. Indeed, it reports revenues up >50% year on year. Progress continues with Atlas, with Spain and Holland now live. The previously flagged supply chain constraints and price pressures continue but are being mitigated by price rises. No change to forecast expectations are signalled. The shares have moderately underperformed in the quarter and offer good
Companies: FEN TRI TWD
Trifast reported FY21 results slightly ahead of consensus with industrial activity recovering above pre-COVID levels. The group seems well set on a strong medium term growth trajectory, backed by its Multinational OEM strategy and with potential for consensus earnings upgrades through the current year. Reiterate buy.
Full-year results were in line with expectations. Cost controls contained the reduction in profits, with adjusted EBIT margin down 150bps to 6.4%, while a focus on cash resulted in cash conversion of 148%. With net cash of £13.3m, the group is in a strong position to step up its acquisition strategy in a fragmented market. Some short-term cost and supply chain issues have previously been flagged, which affect short-term margins, but should be recouped. No change to forecasts or our 187p price ta
Companies: BYOT SOLI TRI JOG CORA
The group has posted a positive trading update, pointing to FY trading ahead of expectations following a strong Q4. The UK and EU are now recovering well, with the US lagging. All sectors are in recovery, with domestic appliances and distributors restocking. Some supply chain cost pressures are evident, as with other industrials. We upgrade FY21 EPS by 7.3% on the back of strong Q4 trading. In our FY22 forecasts some higher input costs offset rising revenues to keep profit expectations unchanged
Trifast has announced a strong year end trading update with results expected to be ahead of current market expectations. Good organic growth and a strong pipeline of new business which bodes well for FY22. We upgrade earnings and reiterate our buy rating, with the Group well positioned for the continuing industrial recovery.
Research Tree provides access to ongoing research coverage, media content and regulatory news on Trifast plc.
We currently have 414 research reports from 9
Following the announcement of test results for all three zones at Royston, where we now see a compelling oil development opportunity, we have revisited our FY21F and FY22F estimates for Touchstone and introduce numbers for FY23F. Our forecasts for the financial year just ended are not materially changed (certainly in revenue and net profit terms) – with Touchstone’s results for the nine months to September having previously indicated that it was tracking reasonably well against our estimates for
Companies: Touchstone Exploration Inc
Companies: Canadian Overseas Petroleum Limited
Companies: Sylvania Platinum Ltd.
Companies: Shanta Gold Limited
No Joiners Today.
Rutherford Health has left the AQSE and Prime People has left AIM.
What’s cooking in the IPO kitchen?
ACP Energy plc, a company formed for the purpose of undertaking an acquisition or acquisitions of a majority interest in a company, business or asset, seeking to join the Main Market (Standard) The Company intends to focus on opportunities in the natural resources sector, raising gross proceeds of £830k. Due 28 Jan.
Artemis Resources ltd, an ASX listed mining
Companies: STAF CASP EKF SAR LTG ERGO EDR BARK
Pantheon Resources announced that it has commenced drilling the Theta West #1 well, which has now drilled to a depth of 1,874 feet – target depth is circa 9,200 feet. The well is targeting i) the Upper Basin Floor Fan and ii) the Lower Basin floor fan, both of which are referred to as Theta West. Theta West has a combined best estimate success-case recoverable resource of 1.4 billion barrels of oil.
Companies: Pantheon Resources plc
Bushveld ended 2021 on a firmer operational footing than it began the year, its focus on stabilising production levels at Vametco helping it reach the upper end of its rebased full-year group production guidance range whilst keeping costs under control. With operational stability now in place, thoughts can once more turn to growth. The commissioning of Kiln 3 at Vanchem is on track for Q2 2022 and should bring higher rates there in H2 and see Bushveld exit the year with a sustainable group produ
Companies: Bushveld Minerals Limited
Wentworth Resources plc has released a strong operational update and its 2022 production guidance, with the Company in its strongest ever position in its corporate history. In Q4/21 Wentworth achieved an all-time quarterly production record at Mnazi Bay of 91.5MMscf/d, demonstrating the continued strong demand for gas in Tanzania. FY21 average gross production was 81.6MMscf/d, above the high-end of the Company's revised guidance (70-80MMscf/d) and our own estimate (80MMscf/d). Gross production g
Companies: Wentworth Resources PLC
West Newton potential flow rate analysis
Companies: Union Jack Oil Plc
Savannah’s FY21 trading update demonstrates continued progress at its Nigerian operations, with strong growth in gas volumes, revenues ahead of guidance, robust cost controls and net debt levels declining. This should be encouraging for investors as Savannah expands its sphere of operations and looks to deliver growth on multiple fronts – the recently announced Chad/Cameroon acquisitions are highly accretive and set to more than double the scale of the company’s operations, while additional grow
Companies: Savannah Energy Plc
As part of the Stage 3 work programme, Falcon Oil & Gas has confirmed that it will embark on a fully-funded, high-impact, extensive work programme in 2022. The Company will drill, fracture stimulate and test two 2,000m+ horizontal wells, with the aim of providing line of sight to the commercialisation of the Beetaloo. The programme will focus on the Amungee Member B shale, following the successful production log test in 2021, which suggested a normalised gas flow rate of 5.2-5.8MMscf/d per 1,000
Companies: Falcon Oil & Gas Ltd.
Initiating Coverage: Price Target 20p
Potential Beyond Tin
AfriTin Mining Limited (ATM) is one of only three listed tin producers in Western markets. It has a large (820km2) land package in Namibia comprising 5 prospective licenses of which the Uis mine is the most advanced and already in production. Near term growth is being delivered with an 80% increase in tin production between 2022 and 2024. However, this is only scratching the surface and there are more than conceptual plans being fo
Companies: AfriTin Mining Ltd.
• Oil production has been averaging ~20,000 bb/d since January 12, 2022 with export routes, including the Northern Peruvian Pipeline, fully functional. From 16/12/2021 until 12/01/2022, production was constrained to ~5 mbbl/d to manage storage capacity and barge availability due to pump station 1 bottlenecks. This resulted in 4Q21 production of 10,147 bbl/d, below our expectations of 11,500 bbl/d. All these issues have now been resolved.
• The 8H and 9H wells continue to perform very well with p
Companies: PetroTal Corp.
Companies: Atlantic Lithium Limited.
No Joiners Today.
Sumo Group has left AIM following a takeover.
What’s cooking in the IPO kitchen?
Unbound Group PLC, (currently called Electra Private Equity PLC) to join AIM. Unbound Group, will be the parent company for a range of brands focused on the 55 plus demographic. Initially focused on Hotter Shoes, Unbound's curated, multi-brand retail platform will offer additional products and services that will enhance the enjoyment and wellbeing of its targeted customer communit
Companies: TENG PLUS EVG CHAR CCS BARK