Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on WATERMAN GROUP PLC. We currently have 17 research reports from 2 professional analysts.
|30Jan17 07:00||RNS||Trading Update|
|11Jan17 07:00||RNS||Notification of Half Year Results|
|12Dec16 17:00||RNS||Result of AGM|
|12Dec16 15:42||RNS||Director/PDMR Shareholding|
|09Dec16 12:00||RNS||WATERMAN APPOINTS NEW NON EXECUTIVE DIRECTOR|
|09Dec16 07:00||RNS||AGM Statement|
|07Dec16 07:00||RNS||Notice of AGM|
Frequency of research reports
Research reports on
WATERMAN GROUP PLC
WATERMAN GROUP PLC
N+1 Singer - Morning Song 30-01-2017
30 Jan 17
ATTRAQT Group (ATQT LN) Reverse takeover of Fredhopper, £28.5m Firm Placing and Open Offer | Conviviality (CVR LN) Delivering against strategy | Murgitroyd Group (MUR LN) Recovery in prospect after H1 setback | Realm Therapeutics (RLM LN) IND filing for lead atopic dermatitis programme | Renishaw (RSW LN) H1 results in line; backdrop more supportive | Revolymer (REVO LN) Joint development agreement with Akzo Nobel | SDL (SDL LN) Fredhopper cash disposal for £25m | Waterman Group (WTM LN) Positive trading update confirms in line H1 performance
N+1 Singer - Waterman Group - Positive trading update confirms in line H1 performance
30 Jan 17
Trading continues to be encouraging with an in line performance in the first half of the year to 31st December. Revenues, profits and operating profit margin are expected to be in line with H1’16, implying a 50%/50% H1/H2 PBT split based on our current year forecasts. The Group has reiterated its commitment to a progressive dividend policy and said it expects to increase the interim dividend. Today’s trading update is the second positive update since Waterman’s full year results. We believe the shares are inexpensive at 4.3x FY’17 EV/EBITDA (peer group: 7.5x) and continue to see medium term attractions in the Group, noting its long established blue-chip client base, strong management team and balance sheet.
N+1 Singer - Waterman Group - Encouraging AGM statement in line with expectations
09 Dec 16
This morning’s AGM Statement confirms that trading in the first four months of the year to 31st October was in line with expectations. Revenue was slightly above the prior year period and cash collection has remained strong. The Group has reiterated its commitment to maintaining a progressive dividend policy. The statement is encouraging and we therefore leave our forecasts unchanged. We note the attractions of a 5% dividend yield and consider the shares inexpensive at 4.5x FY’17 EV/EBITDA.
N+1 Singer - Morning Song 09-12-2016
09 Dec 16
Euromoney Institutional Investor (ERM LN) Some financial engineering and freedom | Imagination Technologies Group (IMG LN) Steadying the ship | Quantum Pharma (QP LN) Appointment of Ged Murray as CFO | Waterman Group (WTM LN) Encouraging AGM statement in line with expectations
Trading update reiterates progress towards strategic targets
11 May 16
Today’s trading update confirms that trading since the half year ended 31st December has continued strongly and in line with management’s expectations. The Group continues to make solid progress towards its publicly stated medium term aspirations. It is on track to exceed its target of tripling adj. PBT over the three years to June 2016, and it has seen a significant improvement in operating margin. This represents another positive step towards the aspirational 6% operating margin by FY’19. We remain confident in our forecasts and, noting recent share price weakness, believe that any concerns over short term implications of the EU Referendum are overdone. We continue to see intrinsic value at c.115p, as this management team continues to execute its strategic plan.
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)
21 Feb 17
Lighthouse Group* (LGT): Middle Britain growth (CORP) | Utilitywise* (UTW): Double-digit sales growth (CORP) | Trakm8* (TRAK): Earnings expectations cut again (CORP) | dotDigital* (DOTC): Myriad growth opportunities (CORP) | Artilium* (ARTA): Five-year Telenet deal secured and prepaid (CORP) | Netcall* (NET): Cloud investment pays off (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.
Time to go over weight
24 Feb 17
We believe equity investors are taking an unnecessarily cautious stance on the construction sector. Forward looking indicators (e.g. consumer confidence, construction PMIs and housing starts) point to a stable market and recent sales LFL are particularly encouraging (e.g. Marshalls). Near term margins may suffer temporary distortions as inflationary pressures build. However, history has shown that modest input cost inflation is actually a positive for earnings growth in the sector. Therefore, as we move into 2018, margin trends are likely to surprise on the upside.
N+1 Singer - Morning Song 22-02-2017
22 Feb 17
CORETX (COR LN) Contract wins and new Lifestyle facility | Gooch & Housego (GHH LN) Solid Q1 trading plus earnings enhancing acquisition of StingRay Optics | NCC Group (NCC LN) Further issues in Assurance | PCI-PAL (PCIP LN) Strong H1 underpins positive outlook | UBM (UBM LN) Results | Verona Pharma (VRP LN) Phase IIa RPL554 add-on trial to tiotropium commenced