Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on DIGNITY PLC. We currently have 12 research reports from 2 professional analysts.
|30Nov16 08:35||RNS||Block listing Interim Review|
|17Nov16 11:41||RNS||Additional Listing|
|07Nov16 07:00||RNS||Third quarter trading update|
|04Nov16 02:45||RNS||Non-Executive Director Change|
|31Oct16 09:45||RNS||Voting Rights and Capital|
|30Sep16 10:45||RNS||Voting Rights and Capital|
|15Sep16 09:48||RNS||TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES|
Frequency of research reports
Research reports on
08 Nov 16
"And so, the day has finally arrived. Clinton or Trump? Does American democracy now face its gravest test? Whatever the outcome, Europe appears to be between a rock and a hard place. The former is thought capable of putting the transatlantic relationship in peril, while the latter proposes to rip the US Constitution apart with the potential to leave the western world in shock. Clinton, whose victory will undoubtedly spark some form of relief rally, offers investors continuity and growth; but only on her terms will there be scope for additional stimulation through tax reform and infrastructural spending, while the EU can expect to finds itself pressurised to dig deep in its pocket and even deeper into its conscience with regard to adoption of the US's interventionist policy across territories ranging from Syria to Putin's Russia. By comparison, the many faces of Trump and a hopelessly divided Republican party present markets with a complete confusion of policy; by effectively challenging the nation's civic religion while proposing disregard for the process of law as it tears up established treaties, the US is immediately pushed off of the moral highground as xenophobia and bigotry prompts a rise in protectionism as the population looks increasingly inward. Sounds absolutely awful! But then perhaps, just perhaps, that is the clever thing about the US political system; historically there has been sufficient institutional safeguards built into the two congressional chambers to mitigate, defer and effectively neuter irresponsible actions that otherwise might be seen to irrevocably threaten status and reputation built-up over past decades. Investors had better hope so! Indeed, judging by the overnight markets, they were already counting on it, as all the US's principal indices rallied strongly with the S&P reversing 9 consecutive days of losses putting in its biggest gain since March. Asian markets initially followed suit, but a lack of follow- through having already covered most of their short positions during the previous session meant that the Nikkei and ASX eventually closed with fractional losses although the Chinese indices remained modestly positive throughout having received confirmation that exports declined at a reduced pace during October. With Europe's market open, the Dollar, Treasuries, Oil and Gold will narrowly range trade, ready to leap in one direction or the other with any decisive steer on the outcome. Neither is London likely to be in the mood to celebrate yesterday's better than expected October BRC sales data, suggesting the FTSE-100 will rise a modest 5 points or so in opening trade. The UK will release Industrial Production figures this morning, while OPEC publishes its world oil outlook. UK Corporates due to release earnings or trading updates include Associated British Foods (ABF.L), AVEVA (AVV.L), BBA Aviation (BBA.L), Marks & Spencer (MKS.L) and Punch Taverns (PUB.L). But really there is only one story today, and all market eyes will remain firmly fixed on the United States; back in 2012, the Associated Press called the result for Barack Obama at 04:38hrs, on which basis there are just over 20 hours to wait from the release of today's Breakfast Today before we know the result." - Barry Gibb, Research Analyst
28 Jul 16
"The FOMC delivered much as expected. Rates were left on hold but, by stating that 'Near-term risks to the economic outlook risks have diminished', the door has been left open for its first rate hike since December 2015 with the hot money remaining on +25bp in September and another +25bp before the year end. Lacking new excitement, London equities are expected to open marginally down, with the FTSE-100 seen down between 5 and 10 points in early trade. US markets closed in a similar mood, with the Dow and S&P 500 left virtually unchanged, leaving only the technology-heavy NASDAQ celebrating better than expected results from Apple following the previous close. Sentiment in Asia continued to yo-yo on the longawaited Japanese stimulus package, forcing the Nikkei to give back half of yesterday's gains, while the Shanghai Composite remained nervous amid threats of new regulation on wealth management products, leaving only the commoditydominated ASX enjoying a small positive by the close. Amongst UK corporates, investors are now able to put a figure on the cost to BHP Billiton (BLT.L) shareholders over the Samarco Dam disaster, with the company indicating a US$1.1bn to US$1.3bn provision, while in yesterday's statement GSK's (GSK.L) Board suggested the post-Brexit fall in Sterling presents a mix of new challenges to the Group. This morning, UK markets anticipate release of the Nationwide House Price Index along with a heavy clutch of results including, Anglo American (AAL.L), AstraZeneca (AZN.L), BAE (BA..L), Centrica (CNA.L), Diageo (DGE.L), Rolls Royce (RR..L), Royal Dutch Shell (RDSA.L) and Weir Group (WEIR.L)." - Barry Gibb, Research Analyst
29 Jun 16
Despite politicians and corporates across the world starting to outline the prospective economic pain and disruption likely to be felt by the UK as measures to effect its separation are put into place, equity investors remain in the mood to bargain hunt following the market plunge that resulted from Brexit. The FTSE- 100 is seen opening up around 55 points and is expected to continue to drag the principal European indices behind it. The ECB president, Mario Draghi, nevertheless has suggested the impact of the vote will be to knock 0.5% off Eurozone growth over three years, EU leaders have warned Westminster to expect hefty financial costs while even telecom blue chip, Vodafone, has informed shareholders that it is now considering moving its UK headquarters overseas. This gloomy background has been darkened further by the attack at Istanbul Airport, which reminds all that that a terrorist’s shadow remains cast over the developed world. Overnight, however, international markets shrugged off such concerns with the US indices regaining the previous day’s losses, with all three principal indices firmly up. This morning Asia followed suit, as speculators seized on sectors most hurt during Friday’s knee-jerk sell off, focussing particularly on the financials. Data watchers will be interested in this morning’s UK releases, which include Nationwide’s House Price Index and the Bank of England’s latest money and credit numbers, while the Conservative Party leadership contest nomination period opens. Amongst corporates, expect results from Dixons Carphone.
N+1 Singer - Morning Song 30-11-2016
30 Nov 16
Sanderson has delivered full year results in line with expectations and the 19 October trading update after a strong finish to the year compensated for a slower start. A healthy level of pre-contracted recurring revenue (50%), incremental sales to existing customers and new customer wins at higher average order values helped deliver solid revenue growth in both the Digital Retail (+9%) and Enterprise (+12%) divisions. A decent order book and good sales momentum suggest that the company is on track to deliver on unchanged profit expectations for the current year. We continue to view the valuation (FY17 EV/EBITDA 8.6x) as undemanding given an attractive combination of accelerating growth potential, strong cash generation and growing dividends.
30 Nov 16
Abzena (ABZA): Interim results indicate happy customers (BUY) | Horizonte Minerals* (HZM): Fund raise completed (CORP) | SacOil* (SAC): Half-year trading statement (CORP) | Revolution Bars (RBG): New openings (BUY) | Amino Technologies* (AMO): Multi operator FUSION roll out (CORP)
N+1 Singer - Marston's - Delivering growth and standing out from the pack
30 Nov 16
Marston’s is our solitary positive stock pick in the sub-sector. Recent finals reflected a year of further strategic, LFL and earnings progress. We believe it is operationally in a strong shape to make further solid progress in FY17, not least as it does not have the acquisition integration or turnaround issues confronting GNK, MAB and RTN. Moreover, it is relatively better positioned to manage the cost headwinds. We forecast 11% TSR returns in FY17 and feel the shares with a 5.5% historical yield and 12% FCF yield (FY17e) are oversold. We are buyers with a revised 12m TP of 150p.
05 Dec 16
These interims show LPEs by is ahead of its plan to recruit 360 LPEs by April 2017 and is making impressive progress in Australia. The statement (and we expect the results presentation) provide considerable evidence of Purplebricks’ progress in building its brand, increasing its LPE footprint, developing its technology, creating engaging marketing and selling properties. We leave our forecasts unchanged. Investor confidence in Purplebricks’ ability to deliver sustainable profitable growth should result in share price appreciation towards a valuation based on its results for the year ended April 2019.