Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on SYNTHOMER PLC. We currently have 16 research reports from 1 professional analysts.
|01Dec16 07:00||RNS||Capital Markets Day|
|28Nov16 09:51||RNS||Holding(s) in Company|
|18Nov16 04:56||RNS||Holding(s) in Company|
|16Nov16 10:15||RNS||Holding(s) in Company|
|10Nov16 02:23||RNS||Holding(s) in Company|
|09Nov16 04:18||RNS||Director/PDMR Shareholding|
|09Nov16 07:00||RNS||Q3 Trading update|
Frequency of research reports
Research reports on
N+1 Singer - Synthomer - Guidance maintained, strong cash generation in Q3
09 Nov 16
Synthomer’s Q3 update maintains guidance for FY16 and FY17. Europe and North America continues to trade well and Asia &ROW is trading in line with expectations with competitive dynamics performing broadly as expected. The integration of Hexion PAC is on track. The full year foreign currency translation benefit is quantified at £10m for the full year (rolling forward yesterday’s exchange rates) and cash flow was strong in Q3 benefiting from the receipts from the Malaysian land sales (£21m) and South Africa business (£13m). Overall, a very solid statement indeed. There will be a Capital Markets Day on 1st December.
N+1 Singer - MS - Chemicals - International exposure and strong balance sheets underpin sector confidence
27 Jun 16
In the wake of the EU referendum result, our view of the UK chemicals sector remains relatively upbeat. The companies we cover (Croda, Elementis, Scapa, Synthomer, Victrex, Zotefoams) generally have limited domestic exposure and plenty to gain on transactional and/or translational FX exposure. The main beneficiary of FX is Victrex, where as a rule of thumb, we would expect a 10% sterling devaluation to increase Group PBT by 10%, all else being equal. An isolated period of disruption/ contraction in the UK could therefore be comfortably managed by most. Given that some commentators are now also worried about a destabilising effect on the rest of the EU, which could trigger euro weakness, it may make sense to favour those companies with a more balanced international footprint. We therefore highlight Elementis positively, given its high percentage of US sales, but would apply more caution to Synthomer, which has the most European exposure (c.80% of profits last year). Balance sheets are robust and dividend yields high, particularly Elementis and Victrex, which have ongoing special dividend programmes.
Positive start to 2016
28 Apr 16
Synthomer has released an in line trading update for Q1’16, confirming a positive start to the year. Europe and North America performed better than the strong Q1’15 (volumes down slightly but margins higher and helped by currency). Asia and Rest of World also traded ahead of the prior year. Overall, expectations are unchanged for the full year. An encouraging update.
28 Apr 16
ACCESSO TECHNOLOGY GRP PLC (ACSO LN) | EARTHPORT PLC (EPO LN) | FISHER(JAMES)& SONS PLC (FSJ LN) | GRESHAM COMPUTING (GHT LN) | HOWDEN JOINERY GROUP PLC (HWDN LN) | NCC GROUP (NCC LN) | OXFORD BIOMEDICA PLC (OXB LN) | REDDE PLC (REDD LN) | SEPURA PLC (SEPU LN) | SYNTHOMER PLC (SYNT LN) | VICTREX (VCT LN)
It’s a bug’s life
18 Apr 16
Byotrol is an Aim-listed anti-microbial play which floated in 2005 and underwent reorganisation, including appointing experienced new management, in Q4 2013. We had an initial presentation from the company on its trading statement on 25th February and look forward to learning more. Byotrol’s USP is in developing and commercialising hygiene products with IP protection and superior characteristics, especially in terms of long-lasting action. Byotrol addresses the B2B market in areas like surface sanitisers in food retail (eg used in 560 M&S stores), food production and hospital healthcare (in trial with NHS/ISS) - all areas with clear regulatory drivers and high profile problems like MRSA. Key initiatives which could transform the group include: seeking US EPA registration for surface care and a marketing/development agreement with Solvay. In the B2C market, Byotrol has a number of existing products.
18 Apr 16
AMINO TECHNOLOGIES (AMO LN) | APPLIED GRAPHENE MATERIALS PLC (AGM LN) | BYOTROL PLC (BYOT LN) | CRODA INTERNATIONAL PLC (CRDA LN) | ELEMENTIS (ELM LN) | PLANT IMPACT PLC (PIM LN) | PLASTICS CAPITAL PLC (PLA LN) | REVOLYMER PLC (REVO LN) | SCAPA GROUP PLC (SCPA LN) | SPIRENT COMMUNICATIONS (SPT LN) | SYNTHOMER PLC (SYNT LN) | VERSARIEN PLC (VRS LN) | VICTREX (VCT LN) | ZOTEFOAMS (ZTF LN)
Innovate, specialise, integrate, globalise
01 Dec 16
Carclo has refocused investment in its established businesses (Technical Plastics and LED Technologies), where a differentiated offer and long-term relationships with customers provide good earnings visibility and more certainty of a return. This strategy delivered strong revenue and profits growth during H117. This growth appears set to continue, underpinned by long-term relationships with blue-chip customers. We leave our estimates and indicative valuation broadly unchanged and introduce our estimates for FY19.
Small Cap Breakfast
29 Nov 16
Asia Pacific Investment Partner - the research-driven emerging and frontier markets real estate development business intends to float on AIM and conduct a placing in December RM Secured Direct Lending - The secured direct lending fund intends to float on the Main Market on 15 December raising up to £100m Diversified Oil & Gas— Schedule One now out. $60m to be raised. Expected admission 6 December. Creo Medical Group —UK based medical device company focused on surgical endoscopy, a recent development in minimally invasive surgery. Admission due 7 December. Fundraising details TBA.
30 Nov 16
Results have yet again beaten our forecasts and the management has now delivered the fourth consecutive year of earnings above expectations. The share price is up 41% over the last three months, and Treatt is steadily moving from commoditised sales to more value-added products. Its strategy of deep customer relationships is paying off, giving it a real competitive advantage and improving margins. The year finished strongly and momentum is due to continue in the traditionally seasonally weaker Q117. Our P&L forecasts are broadly maintained, but our fair value moves to 272p (from 240p) as a result of stronger cash flow.
N+1 Singer - Morning Song 06-12-2016
06 Dec 16
With FY16 volume and revenue already disclosed in the pre-close, the focus in today’s prelims is on PBT (£100.3m versus our £101m) and EPS (96.8p versus our 95.4p). No special dividend triggered this year (none forecast) and DPS is held at 46.8p (N1SE: 48.0p). On end markets, recent commentary is reiterated – the core business is growing, whilst consumer electronics will be subdued in the current year (competitive capacity from Solvay). On currency, there will be a material benefit in the current year (a little more than the £14m to £15m previously indicated), and a further tailwind next year if current rates are maintained (quantum TBC). There is also an investment of £10m today in a minority interest in Magma Global, Victrex’ oil and gas mega programme partner. Although the share price is now close to our TP of 1730p, we feel that there is enough in today’s announcement to retain a positive stance on medium term opportunities with strong cashflow and a special dividend potentially to look forward to in the current year.