Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on EU SUPPLY PLC. We currently have 35 research reports from 3 professional analysts.
|31Jan17 07:00||RNS||Director/PDMR Shareholding|
|26Jan17 07:00||RNS||Trading Update|
|19Jan17 07:00||RNS||Contract wins and update on expectations for 2017|
|23Dec16 07:00||RNS||Contract wins|
|08Dec16 07:00||RNS||Distribution Agreement in Germany|
|14Nov16 07:00||RNS||Contract Win|
|14Oct16 07:00||RNS||Contract win|
Frequency of research reports
Research reports on
EU SUPPLY PLC
EU SUPPLY PLC
Small Cap Breakfast
24 Feb 17
GBGI—Schedule One update from integrated provider of international benefits insurance. Raising £32m at 150p. Admission expected tomorrow. Anglo African Oil & Gas— Admission expected early March. Acquiring stake in producing near offshore field in the Republic of the Congo. Guinness Oil & Gas Exploration—Publication of prospectus. Seeking to raise £50m and invest in 15 exploration companies at launch, with plans to grow the portfolio to 30 positions during its lifetime. Issue closing 23 Feb.
Share & share alike
14 Feb 17
The rally in the last fortnight, highlighted in the table, reflects a continued flow of positive updates and economic news. The FTSE 250, Small cap and Fledgling indices have reached record highs. We are in the lull ahead of results for those companies with a December year end, a welter of economic data regarding the UK economy, the State of the Union address in the US on 28 February and the UK Budget on Wednesday 8 March. We will learn at that stage the latest forecasts from the Office of Budget Responsibility. As highlighted previously, the reaction to corporate updates will continue to set the tone.
Half-term report- Satisfactory?
02 Feb 17
The end of (half) term report reads reasonably well. We have survived the company pre-reporting season with sanity just about intact. Updates have been as anticipated and relatively upbeat with some notable exceptions. The microcosm of smaller companies has soldiered on in the face of a myriad of external distractions both political and economic. Most indices other than AIM have surrendered some of the gains achieved over the last quarter. With outlooks remaining broadly positive, the relative undervaluation of microcaps remains. The reaction to corporate updates will continue to set the tone.
Another positive trading update
26 Jan 17
EU Supply expects to report results slightly ahead of market expectations for FY2016. This follows last week's trading update which said it expected 2017 revenues to be ahead of expectations. The group also expects to have delivered an adj. PBT (vs EBIT previously) in Q4 2016 and generated positive cash flow in H2 2016 despite some adverse currency movements. On the back of the strong 2017 order book,sales momentum and better cash position we have increased our DCF-derived target price to 20p from 15p and maintain our Buy rating.
First Quarterly Profit
26 Jan 17
In an update today, EU Supply, the e-procurement software provider, has announced that it expects to have been profitable before tax in the final quarter of calendar FY2016, more than meeting its target of achieving run-rate operating profitability (before interest) by the end of the year. Full year FY2016 trading was slightly ahead of our forecasts, giving more confidence for 2017 estimates, which we leave unchanged – these were updated following EU Supply’s announcement last week regarding contract wins and 2017 outlook.
Small Cap Breakfast
26 Jan 17
Rainbow Rare Earths has published a prospectus. It has raised $8m to fast-track fully permitted high grade Gakara ‘rare earths’ project to production in Burundi. Intends to join the Standard List of the LSE. Impact healthcare REIT— Intends to float on the main market. Seeks to raise £160m to acquire a portfolio of up to 58 care homes. Expected Admission 7 March. Diversified Gas & Oil—According to LSE website first day of trading on AIM now expected for 30 January.
N+1 Singer - NCC Group - Further issues in Assurance
22 Feb 17
NCC released a trading update yesterday afternoon highlighting further issues in its Assurance division. Sales growth has been lower than expected in all regions, resulting in a significant reduction in full year expectations. We have reduced our EPS forecasts by 25% in FY’17 and 22%/25% in FY’18/’19 respectively. Escrow continues to perform in line with expectations. In response to these issues the Board has announced a strategic review into all of the Assurance businesses. The results of the strategic review are expected to be announced at the FY results in July. With an extended period of uncertainty on the horizon we believe it will be hard for investors to gain confidence in NCC in the short term. That said we see fundamental value in the stock. Escrow is unaffected by this warning and remains an extremely high quality business, which we value at £353m in our SOTP. At the current share price this leaves Assurance valued at c.5x cal’17 EBITDA. While this appears to be an attractive multiple for a rare cybersecurity asset, we would like further clarity on the underlying nature of the current issues, hence our Hold recommendation. Our 138p target price assumes a 12x EBITDA multiple for Assurance but we apply a 20% discount to the group to account for the current uncertainty.
20 Feb 17
Hayward Tyler Group* (HAYT): Trading update and financial position (CORP) | Petra Diamonds (PDL): Interim results (BUY) | Gemfields* (GEM): Interim results (CORP) | Premaitha Health* (NIPT): Middle East momentum (CORP) | Sound Energy (SOU): Acquisition update and TE-8 well spud (HOLD) | Proactis* (PHD): Interim trading on track (CORP) | 7digital* (7DIG): Automotive contract win (CORP)
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)
N+1 Singer - Small-cap quantitative research - New quality style screen + 11 quality focus stocks
09 Feb 17
We introduce our fourth and final style screen representing “quality”. This screens for stocks with the best combination of high returns on capital/equity, EBIT margins and operating cash-flow conversion rates. These criteria should help us monitor how strong underlying returns translate into share price performance over time and under varying market conditions. The screen selects the “best” 25 stocks from our universe of just over 500 stocks and, as usual, we focus on a shorter list of stocks we cover or otherwise know and believe to be particularly interesting. We provide brief investment summaries on these focus stocks on pages 4 – 9. We will monitor performance and refresh the screen in approximately 3-4 months time.
The Slide Rule
12 Jan 17
What is The Slide Rule? The Slide Rule has been designed to dramatically simplify the identification of the best companies in the UK small/mid-cap sector by making a quantitative assessment of the relative potential of each company. At its core, The Slide Rule aims to identify those companies that create genuine shareholder value through strong returns on capital and solid growth, but also present a value opportunity with the potential tailwind of earnings momentum. Companies are assessed within a Quality, Value, Growth and Momentum (QVGM) framework.
N+1 Singer - PROACTIS Holdings - H1 in line
20 Feb 17
A positive interim trading update confirms that H1 results are in line with expectations, with revenues up 36% to c£11.8m on the back of strong organic growth (13%) and an in-line contribution from acquisitions. We make no changes to our forecasts, recommendation and target price pending the release of interim results on 26 April.