Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on BYOTROL PLC. We currently have 18 research reports from 3 professional analysts.
|06Feb17 07:00||RNS||Director Dealing|
|01Feb17 07:00||RNS||Board changes and issue of options|
|13Dec16 07:00||RNS||Interim Results|
|07Dec16 12:29||RNS||Notice of Interim Results|
|14Oct16 07:00||RNS||Grant of Options and Director Shareholdings|
|12Oct16 07:00||RNS||Transfer of Convertible Loan Notes|
|30Sep16 15:16||RNS||Result of Noteholders Meeting|
Frequency of research reports
Research reports on
13 Dec 16
Byotrol* (BYOT): Interim results hide true FY picture (CORP) | Seeing Machines* (SEE): Fovio strategy shift opens equity opportunity (CORP) | Utilitywise* (UTW): Capitalising on the water opportunity (CORP) In other news… OptiBiotix* (OPTI): Joint product agreement with multinational (CORP) | Vectura (VEC): Withdrawal of forecasts (U/R) | AorTech International* (AOR): Termination of coverage
Interim results hide true FY picture
13 Dec 16
Byotrol released interim results for the six months to 30 September. Despite LBITDA of £0.51m (£0.32m), we expect full-year adjusted EBITDA of £0.1m as a result of contractual payments in excess of £1m in H2. Equally significant is that (i) the company has confirmed that it will file its consumer product formulation with the EPA in the US prior to Christmas; (ii) it is in discussions with a number of global FMCGs over Actizone technology (joint Solvay agreement); and (iii) Kyorin has launched its non-alcohol hand sanitiser formulation into the Japanese hospital market. We make small changes to our full-year forecasts and leave unchanged our price target of 6.9p, which is based on a five-year discounted DCF valuation.
29 Nov 16
The prospect of Hilary Clinton creating an oversight panel with the power to impose a set of harsh enforcement rules to control aggressive pricing of pharmaceuticals in the US fell away with the election of Trump, leading to a 16% bounce in the NASDAQ Biotech index and an 8% increase in the US Pharma & Biotech index, some of which has already been given back.
Rude Health - Life Sciences quarterly sector note
30 Aug 16
Topic of the quarter: In light of the Brexit vote, we reflect upon the implications for the NHS and the wider healthcare industry. We take a pragmatic approach to how the referendum result will affect staffing, recruitment, clinical trials, drug pricing and small company grant funding in the coming months and years.
Small Cap Breakfast
16 Feb 17
Saffron Energy—Schedule One update. Raising £2.5m, expected Mkt Cap £7.7m. Admission due 24 Feb. Italian Oil & Gas Play 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. Arix Bioscience — Intention to float on the main market from the global healthcare and life science Company supporting medical innovation. Raised £52m in Feb 16 with investors including Woodford Investment Management
Continued progress since interims
01 Feb 17
Carclo has announced that H217 trading remains strong and the outlook for the full year is in line with its expectations. Growth is being driven by the two larger divisions, Technical Plastics (TP) and LED Technologies, while the Aerospace division is experiencing stable trading conditions. We leave our estimates unchanged, but note potential currency upside should foreign exchange rates remain at current levels for the remainder of FY17.
08 Dec 16
Elderstreet stake acquired 02 GENERAL NEWS Globalworth premium In this issue Venture capital firm Draper Esprit has taken a 30.8% stake in venture capital trust manager Elderstreet. Both investment managers focus on the technology sector and they will be able to co-invest. Elderstreet has investments in a number of AIM-quoted companies through its VCTs. The purchase was funded by an issue of Draper Esprit shares worth just over £250,000. Simon Cook, the chief executive of Draper Esprit, is a former partner at Elderstreet so he knows the business and the people who run it, although he did leave more than 14 years ago. Cook has previously acquired portfolios from 3i and Cazenove, two other firms where he has worked. Draper Esprit has an option to acquire the remaining shares in Elderstreet, which has more than £25m under management. Adding Elderstreet to the group enables Draper Esprit to offer investors a range of EIS funds, VCTs and an ISA qualifying listed evergreen patient capital fund. The enlarged group has venture capital assets under management of more than £350m. At the end of September 2016, Draper Esprit had a net asset value of 352p a share, which is similar to the current share price. The June 2016 flotation price was 300p a share. Draper Esprit is quoted on Ireland’s Enterprise Securities Market as well as AIM.
Small Cap Breakfast
14 Dec 16
Ultimate Products—The Telegraph reports Jim McCarthy, former chief of Poundland has been appointed Chairman of Ultimate Products ahead of a £100m listing in H1 2017. Ultimate Products owns the Beldray cleaning brand and the licence to sell Russell Hobbs and Salter electrical products in the UK. RM Secured Direct Lending - The secured direct lending fund intends to float on the Main Market on 15 December raising up to £100m
N+1 Singer - Victrex - Strong Q4 delivered – meeting FY expectations
11 Oct 16
Victrex’ year end update confirms a strong Q4 performance, driven by the anticipated surge in demand from its large consumer electronics programme. Full year volume and revenue are both a touch ahead of our forecasts and consensus expectations. Invibio has delivered a steady year, in line with expectations, and the Magma oil & gas project has delivered its first meaningful revenues of over £1m. The outlook reiterates previous caution over the consumer electronics outlook but we believe this is now reflected in most analysts’ forecasts, including our own. There is no mention of currency, but this is clearly a strong tailwind for FY17 and, if current rates persist, into FY18. Overall, today’s statement should be well received. There was a lot to do in Q4 and Victrex has delivered it. In our view, the FY17 rating of 16x with a 6% yield (inc. 3% special) represents an attractive entry point for this high quality group.
Outlook 2017: further growth in revenues and earnings
16 Feb 17
Q4 revenues came in at €564m (+4.4% yoy), bringing the annual growth to 9.0% as announced in January. The EBIT for the quarter was €94m (+15% yoy), also in line with January’s guidance. Outlook 2017: further growth in revenues and earnings, based on a generally positive economic outlook despite the risks in important regions.