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Companies: D4T4 ETP KBT MEAL
Companies: EVG FEN KBT ORPH
Companies: K3 Business Technology Group PLC
KBT’s interim results to May 2021 demonstrate a period of resilient performance, underpinned by a firm business foundation set out at FY20 results with tightened core activities, a diverse customer base and an ongoing focus on strategic investment. KBT has delivered a steady 1H revenue figure at £23.2m (1H20: £23.1m) of which recurring revenue accounted 69% (1H20: 73%), own-IP revenue accounted for £8.4m (36%) (1H20: £8.5m, 37%) and Global Accounts delivered 6% YoY revenue growth to £9.2m (1H20:
MAST Energy Developments (MED) is to IPO on the Standard List on 14th April 2021 under the ticker MAST. The company has raised £5m giving a market capitalisation on listing of c. £23m. MED is currently a 100% subsidiary company of AIM quoted, Kibo Energy*. MED was established to acquire and develop a portfolio of flexible power plants in the UK and become a multi-asset operator in the rapidly growing Reserve Power market. PensionBee has confirmed its intention to float on the High Growth Se
Companies: SYM CGNR EKF KBT GGP VLS TMO ECK B90 MDZ
K3’s results for the year to the end of November 2020 reflect a period in which its retail solution sales were impacted by COVID-19. They also reflect significant honing of the focus of the business with two non own IP divisions – the UK Dynamics business placed in administration in 2020 and Starcom, sold in February 2021 – treated as discontinued businesses in the numbers. The continuing businesses reported revenues down 2.5% with the recurring/predictable element of that increasing during the
KBT’s results to November 2020 demonstrate the confrontation and resolution of each former risk element to the investment case: balance sheet strength has been delivered, and multiple business lines simplified, with robust performance of the core remaining businesses in the challenging COVID Period. The balance sheet has been strengthened by the sale of Starcom, renewal of the Barclays facility and conversion of the shareholder loans; the business lines have been freed of the loss-making UK Micr
Companies: COG KBT ACC BBB
Proposed move to AIM from the main market (standard) by Emmerson (EML.L) to provide Emmerson with access to a market and environment which is more suited, in the Board's view, to the Company's current size and strategy ahead of pivotal period for the Company with the commencement of mine construction at the Khemisset Potash Project expected by end of 2021. Follows recent award of Mining Licence granting Emmerson exclusive right to develop and mine the potash deposit and £5.5m raise to fund ong
Companies: XSG TXP SCE SNT KBT PXC OGN SDX TSG RBGP
tinyBuild— a leading video games publisher and developer with global operations. tinyBuild's strategic focus is in creating longlasting IP by partnering with video games developers, establishing a stable platform on which to build multi-game and multimedia franchises is to join AIM. Offer details TBC. Due mid-March. AMTE Power, a developer and manufacturer of lithium-ion battery cells for specialist markets, announced its intention to seek admission to trading on AIM. Admission is expected to ta
Companies: ARS XPF AQX ARTL KRS KBT GRP BOOM CNS ANIC
As K3 continues to hone its focus on higher margin core businesses, it has announced the sale of its managed services unit, Starcom Technologies, to Node4 Ltd for £14.7 million in cash (including £0.5m of cash on the balance sheet). The disposal will give K3 a profit in excess of £10 million in the Group’s current financial year (FY 2021E), and further accelerates the strengthening of its balance sheet. We estimate that Group revenues will be more than 70% sourced from outside the UK following t
Companies: Byotrol plc (BYOT:LON)K3 Business Technology Group PLC (KBT:LON)
Trading so far in the second half of K3’s financial year to 30 November 2020 has continued to be in line with Q2 and management expectations. The majority of K3’s financial Q2 was affected by COVID-19, and today’s comments reflect continuing resilience within key businesses. Particular focus remains on the K3|imagine platform as the Group looks to expand its Own IP sales further. Crucially, annual renewal rates of software licences and maintenance contracts during the critical October period hav
K3 Business Technology (KBT): Corp | Lok'nStore (LOK): Corp
Companies: K3 Business Technology Group PLC (KBT:LON)Lok'nStore Group plc (LOK:LON)
K3’s recent (delayed) announcement for the last financial year contained commentary about the Group’s performance in the current operating environment. Today’s interim announcement builds on that with emphasis on the future of the Group as a smaller, more own-IP rich business following its exit from the UK Dynamics operation. K3 has a supportive level of resilience from its recurring revenues, its customer base and its financial position. Crucially, management sees significant upside from its K3
Research Tree provides access to ongoing research coverage, media content and regulatory news on K3 Business Technology Group PLC.
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Companies: Bango plc
JOHN MENZIES+ (MNZS, BUY at 315p) – Note Publication: Evolutionary trends…
MARKS & SPENCER+ (MKS, HOUSE STOCK at 253p) Q3 TS – FY22 guidance firmed up, c5% underlying upgrade
NORTHBRIDGE INDUSTRIAL SERVICES+ (NBI, House Stock at 174p) - Further progress in Tasman disposal
BUNZL^ (BNZL, BUY at 2723p) – Note published: Solid strategic outlook
TESCO^ (TSCO, BUY at 292p) Q3 & Christmas TS – a beat to expectations and so further FY22 upgrades (c5%)
HILTON FOOD G
Companies: IDEA BRK ASC PFG MAB HFG TSCO BNZL NBI MKS MNZS
We believe the narrative for the UK equity market remains very good. Some inflation appears embedded in markets and economic growth seems robust. We saw investors show caution into the end of 2021 and so have cash to deploy in our view. This has been corroborated by investor feedback we’ve had already this year. The UK equity market is materially cheaper than global equities on a relative basis so asset allocators have to be looking at UK equities while UK 2022 GDP growth is likely the best of t
Companies: AFM ANX AXL CYAN GLAN MODE OBI MATD SEN SOM WSG
Monthly Gaming Wrap-up: December Round-Up
Companies: Keywords Studios plc (KWS:LON)Team17 Group PLC (TM17:LON)
Genflow Biosciences, a UK-based biotechnology company focused on longevity and the development of therapies to counteract the effects of aging and diseases associated with advanced age intends to float on the Main Market (Standard). The Company will become the first longevity biotechnology firm to list in Europe. Genflow has raised £3.7m in an oversubscribed placing, conditional upon admission becoming effective. The flotation will value Genflow at approximately £23.4m.
SuperSeed Capital Limited
Companies: RQIH ABDP ACRL HAYD IQG
As expected, the industry-wide supply chain challenges and inflationary pressure have weighed on Asos’ activity. However, the group has maintained its FY 22 guidance despite ongoing market headwinds. Also, Asos has announced its intention to move to the main market of LSE.
The confirmation of FY guidance and move to the main market of LSE shows the management’s strong confidence and enhances the strategic visibility after the departure of the CEO and change of chair.
Companies: ASOS plc
Highlights of FY21 are 28% organic revenue growth at Clareti, group EBITDA 8% ahead of our forecasts and net cash nearly £4m ahead of our expectations on “very strong” cash collections and lower than expected acquisition costs. Our unchanged FY22 forecasts are well underpinned by 88% contracted revenues. We forecast ARR will grow a further 17% organic in FY22, which is one of the fastest growth rates in our universe. We introduce a Buy recommendation and 220p price target.
Companies: Gresham Technologies plc
What’s cooking in the IPO kitchen?
Genflow Biosciences, a UK-based biotechnology company focused on longevity and the development of therapies to counteract the effects of aging and diseases associated with advanced age intends to float on the Main Market (Standard). The Company will become the first longevity biotechnology firm to list in Europe. Genflow has raised £3.7m in an oversubscribed placing, conditional upon admission becoming effective. The flotation will value Genflow at approximatel
Companies: ZOO AFN ASC CPP FIF PIP
While we were away
Mac Alpha Limited (MACA.L) joined the Main Market. (24/12/21)
Atome Energy PLC (ATOM.L) joined AIM. (30/12/21)
What’s cooking in the IPO kitchen?
Graft Polymer a business focused on the development of polymer modification and drug delivery systems is to join the Main Market (Standard). Graft Polymer has developed a proprietary set of polymer modification technologies, which can improve existing products and processing methodologies by enhancing per
Companies: VLX VRCI LBE RENX SOM TAST DDDD CMH IQG SRC
No Joiners Today.
Ridgecrest (Formerly Nakama Group) has left AIM.
What’s cooking in the IPO kitchen?
Carbon Air, a nano-technology company which leverages the adsorption properties of activated carbon and other advanced materials to improve suspension systems, enhance acoustics or reduce noise, to join AIM. The Company's proprietary technology has allowed it to develop a unique portfolio of solutions for a variety of sizeable end markets, including vehicle suspension systems,
Companies: SYS1 AML AML CWR ESNT GML JDG RENX RRR AIR
Following a +24% upgrade to FY21 EBITDA at its 16 December trading update, Audioboom has announced an even stronger end to FY21, and we upgrade our FY21 revenue by +2% to $60.2m, adjusted EBITDA by +19% to $3.0m, adjusted EPS by +22% to $0.16, and net cash by +40% to $3.0m. The upgrades have been driven by Audioboom capitalising on strong advertiser demand for its premium podcast content, strong growth in podcast audiences, and the highly successful launch of its SHOWCASE platform in Q4. For its
Companies: Audioboom Group PLC
Interims confirm unchanged forecasts after a busy end of 2021 that concluded with a flurry of acquisitions, a capital markets day, and a £104m placing. Six acquisitions in the current financial year (to April) complement 13% annualised organic ARR growth, lifting proforma ARR (including post period end acquisitions) to £86.3m (1H21: £54.8m; FY21: £64.1m). Adj EBITDA of £13.2m maintained an EBITDA margin of 34.1% vs 34.5% in 1H21, compounding the benefit of headline revenue growth of 33% to £38.
Companies: Ideagen PLC
Companies: TruFin Plc
Companies: Mirriad Advertising plc
Where next for markets in 2022? In our view, if COVID is not on the way out, we are just going to have to live with it now and it will have less and less impact on economic forecasts going forward. Instead, the bigger issues for investors to deal with in 2022 are cost inflation and staff shortages for business (which are already hitting earnings momentum), energy cost inflation and higher taxes hitting the consumer wallet, and markets that start from very elevated valuation multiples compared wi
Companies: GML HAT IOG LOK MTC QTX SOM SCE SNG TRCS TRMR