Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on FALANX GROUP LTD. We currently have 7 research reports from 2 professional analysts.
|28Mar17 07:00||RNS||Proprietary Platform and Partnership Agreements|
|08Mar17 07:00||RNS||Appointment of Chief Finance Officer|
|13Feb17 07:00||RNS||New Business Unit - Falanx Cyber Technologies|
|30Jan17 07:02||RNS||Directorate Change|
|30Jan17 07:01||RNS||Operational Update|
|30Jan17 07:00||RNS||Change of Adviser|
|25Jan17 07:00||RNS||Director/PDMR Shareholding|
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FALANX GROUP LTD
FALANX GROUP LTD
Considerable progress made in 2016
15 Dec 16
Today’s update confirms the considerable progress made in 2016 both in terms of financial performance and the ability to take advantage of the growth in the cyber security market. Falanx is now a completely different entity from what it was 12 months ago and is all the better for it. Our growth forecasts are unchanged but they have been considerably de-risked giving us confidence that they will be met. New contracts wins, extensions to existing contracts and cost saving initiatives will allow Falanx to report at least a breakeven PBT in FY18. We expect revenues to grow from £1.8m in FY16 to £2.9m in FY17, for the loss before tax to reduce from £2.6m to £1.9m, yet at the same time for the company to remain in a net cash position. We re-iterate our buy recommendation and price target of 9p, implying a 44% upside.
Price target increased as earnings de-risked
01 Nov 16
The interims confirm the positive changes made by Falanx for the six months to September 2016. Revenues grew 54% to £1.2m, the loss before tax reduced to £0.7m from £1.3m and cash used in operations decreased from £1.6m to £0.4m. It also retained a net cash position. This positive momentum de-risks the earnings profile and we maintain our view that it will report a PBT in FY18. In recognition, we have increased our price target from 8p to 9p (which is still significantly below the 52 week high of 14.5p) implying 30% upside and reiterate our buy recommendation.
Interims 1st November
27 Oct 16
2016 is proving to be a transformational year for Falanx. An acquisition, a new management team, an enhanced product offering, improved earnings visibility, and reduced cash burn all underpin positive momentum. With cyber security and business intelligence growing in importance Falanx is developing a sustainable, security-as-a-service, earnings stream.
09 Sep 16
2016 is proving to be a transformational year for Falanx. An acquisition, a new management team, an enhanced product offering, restructuring, improved earnings visibility, an equity raise, retention of its net cash position and reduced cash burn all underpin positive momentum. With cyber security and business intelligence growing in importance Falanx is developing a sustainable, security-as-a-service, earnings stream. We re-iterate our buy recommendation with a price target of 8p.
Full Year Results 2015/16
18 Jul 16
Results: Falanx have reported 2015/16 Full Year Results, which are in-line with management expectations. Revenue was £1.8m compared to £1.9m in 2015 and operating loss was £2.65m v £2.2m in 2015, which was in-line with our expectations. EPS saw a c20% improvement from 2015; -3.79p v -4.75p. Cash and cash equivalents at the end of the year stood at £0.4m, which again was broadly in-line with estimations. Post the recent fund raising, as of 30th June 2016 Falanx has a cash position of £1.28m.
N+1 Singer - T. Clarke - Strong conclusion to FY16, record order book
28 Mar 17
After significant upgrades at the time of the full year update (PBT forecast +43% FY16; +14% FY17), today’s results are c.4% ahead of our expectations at the PBT level and show strong growth on the prior year (PBT +48%). All regions achieved positive growth in revenue. The outlook statement refers to a still growing order book (£350m at the end of February vs. £330m at the year end) and the strength of recent trading, with London & the South East and Scotland said to be particularly positive. The Group has reiterated its ambitions to improve margins, but we have not incorporated this into our forecasts at this stage. We have nudged up our FY’17 forecasts (PBT +5%) and introduced FY’18 forecasts that imply 2% PBT growth. Despite the well justified bounce in the share price, the shares still trade at a significant discount to the peer group (7.6x FY17 PE, 4% yield).
N+1 Singer - Morning Song 22-03-2017
22 Mar 17
Carador Income Fund (CIFU LN) Premium rating restored, high levels of refinancing activity | Cello Group (CLL LN) Outlook getting brighter – watch Pulsar | Eckoh (ECK LN) Largest ever US secure payments win | eg solutions (EGS LN) Full year results in line | Futura Medical (FUM LN) Licensing deal for CSD500 in Portugal | Verona Pharma (VRP LN) Global agreement with QuintilesIMS to support development of RPL554 | Xaar (XAR LN) 2016 results slightly ahead, reduced visibility in 2017
28 Mar 17
ClearStar* (CLSU): Building a background for growth (CORP) | Sound Energy (SOU): TE-8 results (HOLD) | LiDCO* (LID): 2017 should be a transformative year (CORP) | Proteome Sciences* (PRM): FY 2016 in line. Moving towards breakeven (CORP) | Fulcrum (FCRM): Significant market potential, rising margins and a strong balance sheet (BUY) | Mortgage Advice Bureau (MAB1): Strong and growing intellectual property (BUY) | 7digital* (7DIG): Open offer result (CORP)