Network Rail High Speed contract win
Companies: Maestrano Group Plc
Joiners: Lords Group Trading (LORD.L) joins AIM. Lords Group Trading plc is a consolidator of specialist merchant businesses across the Southeast and Midlands, adding value to the supply of building materials through product expertise and next day delivery. The Group aims to become a £500m turnover building materials distributor group by 2024 as it grows its national presence. The Group has a strong track record of acquisitions, with the six acquisitions completed between 2016 and 2020 having be
Companies: ARE CNS DNM FA/ TUNE INHC IGP MNO VRCI UPR
FY21 outcome at first glance
Joiners: Orcadian Energy (ORCA.L), the North Sea focused, oil and gas development company, has joined AIM. The Company's key asset is the 100% interest in the Pilot oilfield, with audited proven and probable reserves of 78.8m barrels (audited by Sproule BV). Raised £33m at 40p. Mkt Cap £25.5m.
Leavers: No Leavers Today.
What’s cooking in the IPO kitchen?
South West Brands the multi-brand cannabidiol consumer goods company intends to float on the Main Market (Standard). Raising funds to contin
Companies: ASMO ALU BOOM BIRD JAY CYAN IME KAPE MNO PAT
Highly encouraging US market update
Semper Fortis Esports* recently announced its intention to IPO onto the Access Segment of the Aquis Stock Exchange Growth Market. Semper is a multi-operational Esports organisation focusing on gaming technology solutions, brand enhancement and high growth team infrastructures. The company plans to raise £2.5m to develop their three core areas of establishing an esports team, forming partnerships with brands for sponsorship and B2B consultancy services. The Board are highly experienced in spor
Companies: BOKU RBGP MUL WATR GFIN MKA TIDE MNO INX TUNE
Q3 update: Positive operating developments, offset by adverse weather impact in Australia
Post the acquisition of Airsight in 2019, Maestrano has re-focussed its business model on transport analytics and software solutions. Customers across Australia, UK and other rail markets (ARTC, Meitetsu, Network Rail) provide ‘proof of concept'. Maestrano has now raised £2m of equity growth capital, by placing 15.3m new shares at a price of 13p. We are reinitiating research coverage on Maestrano (AIM: MNO). Our recommendation is Buy and our valuation is 47p (£72m)
Proposed move to AIM from the main market (standard) by Emmerson (EML.L) to provide Emmerson with access to a market and environment which is more suited, in the Board's view, to the Company's current size and strategy ahead of pivotal period for the Company with the commencement of mine construction at the Khemisset Potash Project expected by end of 2021. Follows recent award of Mining Licence granting Emmerson exclusive right to develop and mine the potash deposit and £5.5m raise to fund ongoi
Companies: LND GDR GAMA SOLI SHED RLE CRU WRES SBI MNO
AMTE Power, a developer and manufacturer of lithium-ion battery cells for specialist markets, announced its intention to seek admission to trading on AIM. Admission is expected to take place during March 2021. The Company intends to raise approximately £7m by way of a placing of new ordinary shares in the capital of the Company. Timing TBC. Samarkand Group Limited, the cross-border eCommerce technology and retail group opening up the world's largest market for brands and retailers, intends to IP
Companies: OTMP MNO FNX NSCI CNIC CHAR RBD QBT DXSP CUSN
MobilityOne Ltd* (MBO.L, 9.5p/£10.1m) | Maestrano plc (MNO.L, 7.0p/£5.6m) | GetBusy plc (GETB.L, 86p/£41.6m) | Solid State plc (SOLI.L, 580p/£49.5m)
Companies: MBO MNO GETB SOLI
Voyager AIR The Company will focus on the acquisition, leasing and management of primarily widebody aircraft, with asset management services to be provided by Amedeo Limited the IPO will comprise a Placing and Offer for Subscription of Shares to raise up to approximately US$200m.
Uniphar, a diversified healthcare services business with a workforce of over 2,000, is looking to join AIM. Raising EUR135m with market cap on admission of EUR309.6m, expected 17 July 2019.
Roxi Music UK music streami
Companies: TYMN MNO LOGP AFRN VLS LWRF CWR CGNR GMD ACC
2019 started well for investors with U.S. stocks rallying on the back of trade talks between China and the U.S. resuming. Sterling rebounded in Q1 2019 as expectations built the UK would avoid a “no deal” Brexit, providing a further tailwind to more internationally focused UK companies. This sentiment spread across the globe and filtered its way down into small caps.
Companies: PRSM KMK SYS RAI MNO CCS MANO CBOX KGH
We’re just over three months in to 2019 and we’ve seen a 10% UK market rally, retracing much of the Q4 decline, such is the nature of fickle market sentiment. That said, many of the issues we wrote about three months ago that were impacting markets remain: notably Brexit, trade wars, geopolitics and global monetary policy. The 2019 rally thus far feels somewhat fragile, with competing forces of optimism on a potential trade deal which could underpin the rally, against the deterioration in underl
Companies: ARS CYAN HYR LIT SOM ABBY AMS AMER ANX ATYM AVON BLVN PIER BUR CGS CAML CALL CSRT TIDE JET2 DEMG EMR FPO FST GTLY GENL INCE GRI GEEC HDY HMI HAYD HEAD HILS HTG HUR IBPO INDI JHD JOG KEYS KCT KGH LAM LOK MACF MNO MANO MOD MKLW OXIG PCA PANR APP PXC PHC HBR RBW RMM RSW RNO RKH RBGP ROR SUS SCPA SHG SOLG TRAK TRI VNET VTC ZOO ZTF REDD
We believe Bank of America’s SME platform launch may galvanise Maestrano’s own US banking client (Client A) to re-accelerate its planned roll-out. While uncertainty may persist until Maestrano sees evidence of faster client exposure from Client A, we believe risk is shifting in the group’s favour. The shares trade on an undemanding valuation of 0.1x FY19E EV/sales (mkt cap is now equivalent to H1’19A cash position), in our view. We reiterate our Buy rating.
Research Tree provides access to ongoing research coverage, media content and regulatory news on Maestrano Group Plc.
We currently have 23 research reports from 3
Fonix has reported a strong set of FY21 results, with financials that are all in line with our expectations, and +1-3% ahead of our original forecasts established at the October 2020 IPO. FY21 TPV grew +10% to £233m, as Fonix has continued to successfully expand with existing customers while experiencing no churn, and it has grown its active customer base to 111 from 98 at FY20 and 105 at H1 21. By sector, media, gaming, and charity customers have delivered growth of over +22% through FY21, incl
Companies: Fonix Mobile PLC
A renewal and extension worth c. A$30m over the coming year at ANZ takes FY21 revenue visibility to c.100% with a quarter to go. Q4 wins would mean upside. ANZ will grow its Clareti revenues 35% yoy to A$14m. It is this type of growth in excess of opex growth that is pushing Clareti into positive FCF generation. We think the market is missing the substantial operational gearing that a SaaS company experiences as it goes through b/e and can see Clareti generating FCF of up to £6m in short order a
Companies: Gresham Technologies plc
PEN's H1 results this morning are in line with last month's trading update with revenues at £7.4m, well up on the prior year, a significantly reduced EBITA loss, and good progress from the Integrated Product Support (IPS) software business in particular. The company provides software and analytical services in parallel with highly technical engineering simulations, mainly focused on training and asset maintenance, now in the US as well as Canada, Australia, the Middle East and the UK. PEN cont
Companies: Pennant International Group plc
Exactly one year ago, the FTSE 100 closed at 5,862, having fallen 100 points on the day, the lowest point since mid-May 2020, due in part, to the strength of sterling vs US$ at $1.34. One year on, the FTSE 100 has risen to 7,119, a rise of 21%, it remains 7% below the peak in January 2020. From an international viewpoint, US and European markets continue to trade at record highs. The US Federal Reserve is close to withdrawing some of its economic support this year as inflation picks up and the e
Companies: AMYT BAG BVC BRSD CLG CML FBD GDWN INV MACF MNZS MIO NRR NSF NBI MATD PREM QFI RUA SCS STVG SUR SNX UPGS VAST VLS
Encouraging interim results from the UK’s longest-running ‘full service’ cyber security provider with strong revenue growth in the two key divisions: Assurance (+20%) and Managed Detection & Response (MD&R) (+17%) and group +15.3% to £3.0m. Higher utilisation in Assurance increased group gross margin (60.4% vs 56.1%) but the planned investment meant adj. EBITDA decreased to £19k (H1 FY20: £52k). The accelerated adoption of remote and cloud working occasioned by COVID-19 has increased the number
Companies: ECSC Group Plc
FY21 results are as expected but do not reflect the fundamental transformation of the group that occurred post-period end in June with the acquisition of Attend Anywhere (AA) and placing to raise £25m. This was the fourth and largest acquisition made to date as the group continues on its buy and build strategy, creating a comprehensive virtual care platform. The outlook remains positive as the digital transformation of healthcare picks up momentum. Induction is a rare asset in the space yet trad
Companies: Induction Healthcare Group Plc
Ingenta is a provider of software technology and supporting services to content providers and publishers around the world. The company enjoys a stable, high level of recurring revenue and has consistent cash generation leaving it well positioned for its planed future growth and able to introduce a progressive dividend policy announced today with the H1/21 interim results (4.5% forecast yield). Ingenta has a well-established market position and requires minimal investment in its core products for
Companies: Ingenta plc
In the face of unprecedented challenges to the NHS, brought on by the COVID-19 pandemic and the fundamental shift in the way services have had to be delivered, Totally was able to support front-line NHS services and deliver a set of full year results that were ahead of the comparative period. We believe that this speaks volumes to the professionalism of the Company and the high regard that it holds within the NHS. The legacy, as the COVID impact gradually reduces, is a paradigm shift in the way
Companies: Totally Plc
FYJun 21 revenues have come in 4% ahead of our forecasts at £58.1m and we adjust FYJun21 adj. PBT 6% upwards to £13.5m. We hike FY22 revs and adj. PBT by 2%. FY21 revenue growth of 23% (organic) is the strongest since 2016 and a marked hike from last year’s CV19 impacted 12%. The consistently remarkable figure is monthly ARPC, which has risen 16% yoy to £1,251. As DOTD continues to add functionality we believe that figure will head towards £2,000 over the coming years – that’s an awful lot of up
Companies: dotDigital Group plc
Companies: In the Style Group Plc
Companies: Luceco PLC
Companies: Bango plc
ZOO has provided a short trading update to accompany its AGM which will be held later today. The business is seeing strong momentum, driven by new production resuming and the migration of back catalogue content for streaming, coupled with further territory launches. H1 is expected to be slightly ahead of guidance with a considerable increase in EBITDA compared to the FY21 comparator, due the uptick in revenue and operational gearing. We make no changes to estimates at this stage (which we upgrad
Companies: ZOO Digital Group plc
As noted in the August update, a post-lockdown bounce in economic activity and the recruitment markets exposed underinvestment and resource shortage in Parity’s core recruitment business, leading to disappointing 1H results. Mark Braund was appointed Non-Executive Chairman in April and took control as interim Executive Chairman in June to revamp the strategy. Parity has an excellent brand name and client base, and with the right investment in front line resources, should perform very well on the
Companies: Parity Group plc
itim is a disruptive SaaS-based platform that enables store-based retailers to implement a proven and highly effective Omni-channel solution to compete successfully with online only players. Three months on from its IPO, the group has this morning released robust interim results to 30 June, demonstrating positive trading momentum, good progress in building the team for future growth and full year results anticipated in line with our expectations. With an already established customer base and a h
Companies: Itim Group PLC