Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on 1SPATIAL PLC. We currently have 25 research reports from 4 professional analysts.
|31Jan17 11:21||RNS||Directorate Change|
|11Jan17 17:46||RNS||Directorate Change|
|30Dec16 16:43||RNS||Directorate Change|
|20Dec16 07:00||RNS||Trading Update and Divestment|
|24Nov16 17:23||RNS||Holding(s) in Company|
|18Oct16 07:00||RNS||Interim Results|
|11Oct16 07:00||RNS||HERE Reseller Agreement|
Frequency of research reports
Research reports on
N+1 Singer - 1Spatial - Profit warning
20 Dec 16
1Spatial has issued a profit warning indicating it now expects to make a marginal adjusted EBITDA loss for the year to 31 Jan 2017 vs. our adjusted EBITDA forecast of £4.3m. The group has been transitioning the model to one of annualised revenues but also saw extension of sales cycles which means certain contracts are now expected to fall into 2017. It expects to end the financial year comfortably within its banking facilities. We are putting forecasts under review as we await further details of action plans to restore the group on a healthier footing. As part of today’s announcement, 1Spatial also announced the sale of Avisen (£0.1m consideration) and the closer of Storage Fusion. Whilst these steps should be helpful in increasing focus, positive revenue traction will be required to buoy confidence in the group’s execution of its strategy.
Small Cap Breakfast
20 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.
Looking for the turning point
16 Nov 16
While 1Spatial’s financial performance in H1 was somewhat disappointing, we believe that the company took a number of strategic steps towards building a scalable platform for growth over the period. With the Geospatial order book up 30% since year end, a pipeline of licensing deals to close and the Esri relationship starting to generate recurring subscription sales, we believe that its financial performance should turn a corner in H2. If it does then 1Spatial’s shares are substantially undervalued.
20 Feb 17
Hayward Tyler Group* (HAYT): Trading update and financial position (CORP) | Petra Diamonds (PDL): Interim results (BUY) | Gemfields* (GEM): Interim results (CORP) | Premaitha Health* (NIPT): Middle East momentum (CORP) | Sound Energy (SOU): Acquisition update and TE-8 well spud (HOLD) | Proactis* (PHD): Interim trading on track (CORP) | 7digital* (7DIG): Automotive contract win (CORP)
N+1 Singer - Small-cap quantitative research - New quality style screen + 11 quality focus stocks
09 Feb 17
We introduce our fourth and final style screen representing “quality”. This screens for stocks with the best combination of high returns on capital/equity, EBIT margins and operating cash-flow conversion rates. These criteria should help us monitor how strong underlying returns translate into share price performance over time and under varying market conditions. The screen selects the “best” 25 stocks from our universe of just over 500 stocks and, as usual, we focus on a shorter list of stocks we cover or otherwise know and believe to be particularly interesting. We provide brief investment summaries on these focus stocks on pages 4 – 9. We will monitor performance and refresh the screen in approximately 3-4 months time.
The Slide Rule
12 Jan 17
What is The Slide Rule? The Slide Rule has been designed to dramatically simplify the identification of the best companies in the UK small/mid-cap sector by making a quantitative assessment of the relative potential of each company. At its core, The Slide Rule aims to identify those companies that create genuine shareholder value through strong returns on capital and solid growth, but also present a value opportunity with the potential tailwind of earnings momentum. Companies are assessed within a Quality, Value, Growth and Momentum (QVGM) framework.
Emerging from the clouds
16 Feb 17
Rolls-Royce’s underlying performance in FY16 was ahead of both its own and market expectations. Media focus on the non-cash £4.4bn headline FX loss is missing what looks to be the basis for optimism. As the civil model starts to move from investment in engines for the A350 and A330neo into the aftermarket delivery phase over the remainder of the decade, we think cash flow is likely to improve, particularly if supported by an eventual recovery in Marine.
15 Feb 17
At the current market capitalisation of £29m, we believe the shares are significantly undervalued. We estimate that the highly profitable Maritime business is alone worth at least £40m. With net cash of £9m at end-2016, this implies that the market is currently ascribing a combined negative value of £17m to the rest of the group, which together account for c.54% of group revenues. This is very harsh given the management actions to transform TP Group to a profit-driven Tier 2 specialist services and engineering company are bearing fruits across the divisions. TPG Managed Solutions is expected to more than double its profits in 2017, while TPG Engineering and Design & Technology are on course to deliver sustainable profits from 2019. Even if we ascribe zero value to Engineering, Design & Technology and Managed Solutions, the shares are worth 9.5p a share, a 38% upside from the current share price. BUY.
Taking the bull by the horns
15 Feb 17
Avon Rubber announced this morning that CEO Rob Rennie has left and been replaced with Paul McDonald, formerly managing director of Avon’s Dairy division. This news comes as a surprise and is likely to raise some questions over the CEO and CFO transition, with the CEO only being in post for just over a year. However, the group has appointed an executive already known to many who have followed the business, and as such should be seen as a good appointment with a track record of decisiveness and getting things done.