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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
Companies: BOOM NTQ PCIP RNO TRCS
Prelims are comfortably in line with the August trading update (EBITDA +4% ahead, adj dil EPS +3%), which already represented the second upgrade in a month for expectations for the July year end, with growth in Rail Technology & Services (RT&S) supported by a quicker than expected recovery in the COVID-hit Data, Analytics, Consultancy & Events (DACE) division. At group level, revenue grew +4.7%, including 7.7% organic, offset by expected pressure in DACE; while group EBITDA grew 24% vs FY20. Div
Companies: Tracsis plc
Companies: Sopheon plc (SPE:LON)Tracsis plc (TRCS:LON)
Companies: PEB QTX TRCS TRI
Big Technologies (BIG.L) has joined AIM. Big Technologies plc provides products and services to the remote and personal monitoring industry under a number of brand and trading names, with 'Buddi' being the most well known and used in respect of activities within the core criminal justice market. The Company's criminal justice solution involves proprietary monitoring software combined with modular monitoring hardware being used to accurately track the location of tag wearers. Alongside
Companies: AGL CMCL CEG CCS EEE GOOD PPC SMS TRCS ZPHR
Companies: QTX STX TRCS
Initiated in 2018, the Williams Review was largely ready by March 2020 but was overwhelmed by COVID, leading to the euthanasia of the franchise system, an early move within the new rail philosophy. The eventual Williams-Shapps Plan for Rail is also in line with anticipated positive changes, and the expected focus on passengers, efficiency, and promotion of greater rail use (incl. freight). Train Operating Companies (TOCs) will provide services with detailed service level agreements and no ticket
Wickes to demerge from Travis Perkins and list on the Main Market. Expected 28 April.
Advance Energy to complete an RTO on AIM indirectly acquiring up to 50% of Carnarvon Petroleum Timor which holds a 100 per cent. working interest and is the contractor under the Buffalo PSC, offshore Timor-Leste. Carnarvon Petroleum Timor is a subsidiary of ASX listed company, Carnarvon Petroleum Limited. The net proceeds of the Placing of approximately £20.01m (approximately US$27.51mm) will be used to fun
Companies: ROCK NTQ TRCS GROW BARK AFM SPSY ALT WATR BGO
Companies: COG IOG MMX TRCS CGH
While Tracsis has certain revenue streams affected by COVID (a £-6m effect at interims to January), the remainder of the business has provided steady and appreciable organic growth of 5%, delivering group revenue of £22.2m (vs a non- COVID affected prior year 1H of £26.4m). With cost savings of £1.3m and a furlough benefit of £0.5m, 1H21 EBITDA of £5.4m was impressively close to the £5.6m delivered for 1H20, while year-end cash remained very comfortable at £20.8m. You’d clearly be wrong to think
Research Tree provides access to ongoing research coverage, media content and regulatory news on Tracsis 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
GENinCode has announced the filing of a pre-submission for its Cardio inCode-SCORE test with the US FDA, as recommended by the agency. A pre-submission provides a structured framework for discussion of the future marketing application between the FDA and the device manufacturer. Essentially, we see this as an opportunity for the FDA to review the submission ahead of an ‘official' filing to ensure that the future application will answer all the questions the FDA requires to be addressed. The pre-
Companies: GENinCode UK Ltd.