Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on CONNECT GROUP PLC. We currently have 24 research reports from 3 professional analysts.
|22Mar17 15:05||RNS||Change in Director's Role & Responsibilities|
|03Mar17 07:00||RNS||Board Change|
|28Feb17 11:44||RNS||Total Voting Rights|
|24Feb17 09:56||RNS||Block listing Interim Review|
|22Feb17 07:01||RNS||Director declaration|
|20Feb17 17:06||RNS||Director/PDMR Shareholding|
|10Feb17 16:31||RNS||Director/PDMR Shareholding|
Frequency of research reports
Research reports on
CONNECT GROUP PLC
CONNECT GROUP PLC
10 Mar 17
We have run our new quantitative Slide Rule over the Support Services sector. Of the c.500 stocks we have ranked on a Quality, Value, Growth and Momentum basis in the small to mid-cap space, 21 Support Services stocks appear in the top 100. Fulcrum leads the pack, ranked no. 6 out of 500 (and not coincidentally our top pick for the year), closely followed by Brainjuicer (no.7), Sanne (no.8), Learning Technologies (no. 12) and Next Fifteen (no.16). These stocks have high ROCE on both an EBIT and cash basis, strong growth prospects, earnings and share price momentum and valuations that, in this context, remain attractive. At the other end of the spectrum, HSS, Management Consulting, Serco, Mitie and Lakehouse appear towards the bottom of the rankings. Strong returns could, of course, be made if any of these turn their fortunes around, and management has been changed at Lakehouse, Serco and Mitie.
Steering towards growth
16 Feb 17
Connect has sold its Education and Care division for £56.5m (plus the division’s £7.9m pension deficit goes), ahead of our assumed £44m. This improves our sum of the parts-based target price to 200p from 196p but more importantly is evidence of management action to realise value. Net debt reduces substantially, leaving FY 2017E net debt/EBITDA on 1.2x, and the progressive dividend policy remains unchanged. Hence, while we factor in a 13% dilution from the sale into EPS, we are leaving our dividend forecasts unchanged. With the dividend yield at 7% (and growing) and the potential for a re-rating as the return on investment into the new growth areas comes through, we reiterate our Buy recommendation.
07 Feb 17
Europa Oil & Gas* (EOG): Wressle planning resubmission (CORP) | Premaitha Health* (NIPT): New customer wins in Southern Europe (CORP) | Amino Technologies* (AMO): Scale, breadth, and growth (CORP) | Hurricane Energy (HUR): Lancaster technical analysis (BUY) | Connect (CNCT): Disposal strengthens balance sheet and reduces risk (BUY) | Mattioli Woods (MTW): Acquisition and results (BUY) | RM Group (RM.) Prelims and acquisition (BUY)
26 Jan 17
Frenkel Topping* (FEN): Reassuring pre-close update (CORP) | Netcall* (NET): Robust trading, growth in Saas (CORP) | ClearStar* (CLSU): FY 2016 on track and bright prospects (CORP) | Connect (CNCT): Mixed trading performance continues to be managed (BUY) | Firestone Diamonds (FDI): Commissioning update (BUY)
17 Nov 16
Following on from our last quarterly we have delved further into the potential and challenges that the Internet of Things present the sector. Having spoken to a wide variety of companies from the sector (large and small, UK and overseas) it is apparent that there is going to be a very significant increase in the amount of data either generated by or available to Support Service companies. The key to generating value from this change will be breaking down the silos in which data is currently held, attracting and investing in the right skills and talent, seeing beyond the short-term investment that is likely to be needed and engaging with clients on a higher, more strategic level. If the sector doesn’t react, then the door is wide open for the Technology sector.
N+1 Singer - Morning Song 21-03-2017
21 Mar 17
accesso Technology (ACSO LN) Full year results in line, but key trading months still ahead | Augean (AUG LN) Double digit growth in ’16, good start to ‘17 | Earthport (EPO LN) Interims show continued top line strength | Goals Soccer Centres (GOAL LN) Good momentum under new team. It’s now all about delivery | IQE (IQE LN) FY’16 results prompt further upgrades | Microsaic Systems (MSYS LN) Challenges in 2016, strategy remains in place | mporium Group (MPM LN) Funds raised to help execute strategy | RhythmOne (RTHM LN) Dawn of the independents | ScS Group (SCS LN) Strong progress on key growth initiatives albeit comps now toughen | Sinclair Pharma (SPH LN) FY results: EBITDA ahead, Instalift™ gaining pace | Vectura Group (VEC LN) FY (9-month) results
N+1 Singer - Augean - Double digit growth in ’16, good start to ‘17
21 Mar 17
Augean reported another year of double digit growth for 2016, with profits in line with our forecasts. Sales grew by 21% excluding landfill tax, while adjusted PBT grew by 18% to £7.1m before amortisation of acquired intangibles. DPS was increased by 54% to 1.0p, 25% ahead of our estimate. The business units made further strategic progress, with revenues from their top 20 customers increasing from 42% to 43% of the total, of which 88% was under contract or a framework agreement, increasing forward visibility. There has been an encouraging start to 2017 and management is confident of delivering another year of profits growth. The shares trade on undemanding single digit multiples, offering good value.