Hot Off The Wires - The Day Ahead

Today's news and views, plus announcements from: INF, 3IN, DLG, JDW, RSW, WKP, BOO & GRP.

Informa - FY24 off to a good start

Informa’s FY23 results were strong, slightly ahead of guidance at January’s update. Underlying revenues grew 30.4% and adjusted operating margin expanded from 21.9% to 26.8%, with all four operating segments posting underlying revenue progress. The momentum has continued into FY24, and formal guidance has been edged ahead. The group generates significant amounts of cash, and leverage at end FY23 of 1.4x was below the guided range of 1.5–2.5x. With modest investment requirements and M&A opportuni

Guidance raised once again but clouds ahead?

Informa delivered an outstanding 10-month trading update with only limited figures disclosed as usual. The company raised its guidance for FY23 and announced an extension to the share buyback programme. However, the management was relatively cautious for 2024 owing to the geopolitical tensions and a difficult macroeconomic environment.

Hot Off The Wires - The Day Ahead

Today's news and views, plus announcements from: CTEC, LAND, IMB, INF, VOD, DOCS, ATYM, RQIH, TXP, & UOG.

Covid-cured Informa rides the Chinese wave

The markets cheered Informa’s better-than-expected H1 23 results, a near-doubling in the interim dividend and a positive more-detailed guidance update. Informa also announced two new targeted acquisitions for Informa Tech and Informa Markets at attractive multiples.

Hot Off The Wires - The Day Ahead

Today's news and views, plus announcements from: INF, AAL, BARC, BEZ, BT., CNA, FRAS, RS1, SDR, SHEL, STJ, DRX, INCH, ITH, ITV, JUP, MAB, BGO, & DELT.

AGM trading update: 2023 guidance revised upwards

Informa issued this morning a trading update ahead of its AGM to signal an increase in its guidance for 2023. Revenues are sensibly revised upwards as well as adjusted operating profit, the stock is up 3% on the news.

Further B2B strengthening with foodservice specialist Winsight

Informa has acquired foodservice specialist Winsight for $380m in cash, strengthening its B2B portfolio in line with its growth plan. The combination of the two will create a new leader in this market. Informa is expected to benefit from earnings accretion in the first year of ownership, thus preserving its financial health.

FY22: great results and reassuring outlook

Informa’s stock was up 3% yesterday, after the group released strong FY22 results, supported by all businesses and by the outlook, glimpsing a rosy future, with a return to pre-COVID levels.

Hot Off The Wires - The Day Ahead

Today's news and views, plus announcements from: INF, MRO, SGE, AJB, HBR, PFD, WKP, 3IN, AEWU, ROO, KIE, APP, BOO, & HOTC.

10-month 2022: improved outlook, backed by events recovery

Informa raised its FY22e guidance on the back of a stronger-than-expected recovery in B2B Markets. More than 400 events have been held so far, compared to 250 in the same period last year. Events revenues (excluding China) are now tracking at c.85% of their FY19 levels.

Hot Off The Wires - The Day Ahead

Today's news and views, plus announcements from: AZN, INF, WG., MCRO, QLT, CBOX, JOUL, AVAP, & HLCL.

Hot Off The Wires - The Day Ahead

Today's news and views, plus announcements from: INF, HIK, RR., GLEN, MDC, CTEC, MGNS, SRC, & CYAN.

Some bits of good news

Informa is up 5% after reporting better-than-expected preliminary H1 22 results and announcing a number of important developments this morning, including the acquisition of Industry Dive (US B2B Publisher) and the sale of EPFR (part of Informa Intelligence).

Hot Off The Wires - The Day Ahead

Today's news and views, plus announcements: INF, LIO, BAB, PCA, AWE, PDL, RQIH, & PEBB.

It's a growth thing

musicMagpie - Strategically positioning for profitability

musicMagpie’s (MMAG’s) H124 results reflected several strategic decisions taken by the management team to improve profitability and cash generation. The decision to make the US a sourcing-only geography to benefit margins had a notable impact on revenues, with US revenues declining by more than half. Despite the double-digit decline in group revenue, the adjusted EBITDA margin remained relatively stable at 4.4% (H123: 4.5%), reflecting the focus on profitability. The outlook remains challenging,

PROGRESSIVE: Beeks Financial Cloud Group: FY update: an in-line year featuring significant double-digit growth

Following significant double-digit growth, Beeks announces that FY24 results (to 30 June) are in line with expectations. Revenue soared 27% Y/Y. We note a beat to FCF, a beat to net cash (6.58m vs 4.41m in FY23) and a beat to profitability all illustrative of improving unit economics. CEO Gordon McArthur comments that the record results are a testament to Beeks growing reputation. That Beeks did not suffer outage, or break SLAs, on 19 July will copper bottom that reputation. After that global IT

Fonix Mobile - FY24 +5-6% ahead, conservative FY25 upgrades of +3%

Fonix’s FY24 trading update shows gross profit growth of +18% to £17.9m or +6% ahead of our previous forecast, adjusted EBITDA growth of +18% to £13.7m or +5% ahead, and a confident outlook leads us to conservatively upgrade our FY25E gross profit, adjusted EBITDA, and EFCF by +3%. Robust progress with new and existing customers has driven FY24 growth in both mobile payments and mobile messaging of at least +16%, and UK gross profit growth of at least +15% has been boosted by the successful expa

Morning Note – 25 July 2024

PANMURE LIBERUM: Cambridge Cognition: On track, profitability expected FY 2024

Hardman & Co Monthly: July 2024

Feature article: UK life sciences needs more local institutional support to survive. For two years running, the Hardman & Co Healthcare index has declined, underperforming both the FTSE 100 and the FTSE All-Share indices. This is quite unusual for healthcare stocks. Apart from the general economic influences, which have made institutions more risk-averse, there was a common knowledge that several companies were in need of additional working capital; so, share prices were marked down in anticipa

Hybridan Small Cap Feast 07/07/23

Joiners: No joiners today. Leavers: Medica Group plc has left the Premium Segment of the Main Market. What’s cooking in the IPO kitchen?** Blackpoint Biotech plc, a medical cannabinoids company established to fulfil gaps in the medical cannabis market by creating products that provide fast onset of action and accurate dosing, intends to join intends to join the Access Segment of the AQSE Growth Market. Expected Admission 20 July 2023. Metals One Plc, a company focusing on acquiring natural resou

Hybridan Small Cap Feast - 24 June 2024

24th June 2024 * A corporate client of Hybridan LLP ** Arranged by type of listing and date of announcement *** Alphabetically arranged **** Potential means Intention to Float (ITF) has been announced, or it is a rumour Dish of the day Admissions: Delistings: TUI AG (TUI.L) has left the Premium Segment of the Main Market. Bens Creek Group (BEN) has left AIM. What’s baking in the oven? ** Potential**** Initial Public Offerings: ITF announced: 19 June 2024: IntelliAM, an artificial intelligence co

Hybridan Small Cap Feast - 25 July 24

* A corporate client of Hybridan LLP ** Arranged by type of listing and date of announcement *** Alphabetically arranged **** Potential means Intention to Float (ITF) has been announced, or it is a rumour Dish of the day Admissions: None Delistings: None What’s baking in the oven? ** Potential**** Initial Public Offerings: ITF announced: 8th July 2024: Rome Resources: The Canada-based early-stage resource exploration Company has announced its intention to IPO on AIM in order to continue to make

Pennant International (PEN LN) - A solid start to the year

PEN’s H1-24E trading update this morning highlights progress during the first half, together with (a) a reminder of the major software launch impending in H2, and (b), “material” prospects which the company appears well-placed to convert in the second half, assuming that PEN can build on H1 operational delivery to capture the benefits of a buoyant bidding environment driven by the animated global defence sector. PEN provides software, integrated product support solutions and complex training sys

National World Trading Update

National World has reported a Trading Update for the 21wks to 25th May in which revenues advanced +18% driven by acquisitions; we maintain our FY24 estimates.

The most exciting UK SMIDcap growth story?

Morning Note – 22 March 2024

Intercede - An exceptional year shows the potential

Intercede has delivered revenue to March FY24 of £20m (+65% vs FY23) as expected, with profit and cash generation comfortably in line with the April trading update. Adj EBIT of £5.9m (vs £5.5mE; +479% vs FY23), and free cash flow of £9.0m (vs £8.9mE; +277% vs FY23), again outperformed forecasts that have been upgraded eight times already since 2022: original expectations accommodated £12m revenue, £0.6m adj EBIT and FCF of £0.4m. With the CMD having demonstrated the expanded product trio of MyID