AIM Breakfast

ANGLE PLC | GLOBAL INVACOM GROUP LTD | MATCHTECH GROUP PLC | METMINCO LTD | MYTRAH ENERGY LTD | PORTMEIRION GROUP PLC | RENEURON GROUP PLC | SERVICEPOWER TECHNOLOGIES

AIM Breakfast

Magnolia Petroleum (MAGP.L) | Metal Tiger (MTR.L) | Metminco ( MNC.L) | ReNeuron Group (RENE.L) | Global Invacom Group (GINV.L) | Matchtech Group (MTEC.L) | ServicePower Tech (SVR.L) | Mytrah Energy (MYT) | Portmeirion Group (PMP.L) | ANGLE (AGL.L)

Growth set to accelerate in 2016

Turnarounds are notoriously tricky even at the best of times. Inevitably once one problem is fixed, another crops up – which is what has happened this year at ServicePower. H1 revenues at £6.8m showed impressive growth of 12.8%, after a series of blue chip contract wins. Since then, like many small caps, the going has got progressively tougher – characterised by longer sales cycles as clients have become increasingly nervous due to slower global growth, emerging market instability, terrorism, la

Conviviality across the Universe, Pivotal moment for ProMetic, OptiBiotix going up scale

7DIG Half Yearly Reports, AVG Final Results, BMR Potential, COS Agreement, IKA Patent grant, MGR Half Yearly Report, MXO* Half Yearly Report and Update, OBT Half Yearly Report, OPTI* Completion of Study, ORM Half Yearly Report, PLI* Meeting with US FDA, SVR Interim Results, VLG Interim Results, UNG New Contract Win .

Double digit top line growth

Microcap software is a stock-pickers paradise par excellence. Not only is the sector poorly covered by the City, but also the returns can reach nosebleed levels. Here the technology is often niche and difficult to copy – hence creating predictable revenues, healthy margins and positive cashflows. But the really exciting bit comes when growth is added; effectively turbo-charging profits as incremental sales largely drop down to the bottom line.

Small Cap Wrap - Another deal in the Potash, Shifting up a Gear4music. A quantum leap for ServicePower

AFPO Memorandum of Understanding, AAU Quarterly Newsletter, ATQT Directorate Change, COS Participation, FITB* Board Changes and Appointment of CEO, G4M Trading Update, MARL* Exercise of Warrants, Termination and CPR, MDZ* Final Results, MXO* Nigerian Update, OPTI* Half Yearly Report, PEG* Directorate Change and Half yearly Report, PLI* Expansion of Phase II, SVR Award and Patents, STEL Licence Application, ZEG Intention to Move to Official List

What we do in life Eckoh's in eternity, Avanti reaches for the sky, Platform change for Hornby, Mariana glitters

AVN Financing, BLU Timeline and Results, ECK Contract Wins, FITB Placing, Subscription and Convertible Loan Note, HRN Admission to AIM, MARL Estimate, MMH Interim Results, MXO Mexico Update, NET Contract Win, PLI Q2 Results and Highlights, SVR Contract Win, TRCS Trading Update, UNG Launch, VENN Trading Update

ServicePowers into the black, Sareum powers towards Phase 1 and MX Oil power drills for oil

BOOM Half Yearly Report, COG New Research, CRU Preliminary Results, FEVR Interim Results, HCM Innovation Patent, IVO Investments, JRIC Half Yearly Report, MJW Launch of Naked Wines, MARL* Resource Estimation, MXO* Drilling Commences and Director Dealing, NAK Final Results, PEG* Trading Update, SAR* CHK1 Update, SDI Final Results, SVR Trading Statement, STAF Interim Results, SNX Interim Results

Upgrade cycle now underway

Earnings upgrade cycles are like gold-dust. Get on board early, and the returns, especially for off-the-beaten track stocks like ServicePower, can lead to very rich-pickings for investors.

Possible beneficiary of $3.5 trillion M&A boom

Ultra-low interest rates and improving corporate balance sheets have helped drive M&A activity to record highs – climbing 47% in 2014 to $3.5 trillion in terms of announced deals, and up another 38% to $2.2 trillion in H1’15 (source: Reuters).

Small Cap Wrap

C21 Contract Win, ABDP Interim Results, AFHP Acquisition, AVCT Interim Results, CDOG Final Results, CRE Trading Update and Acquisition, ECK Trading Update, FDBK Trading Update, FITB* Partnership, MARL* Trading Update, MSG* Trading Update, MPAY Preliminary Results, MXO* Update, PTSG Final Results, SVR Contract Wins, THAL New Contracts

Journeo - Buoyant interim results

Journeo has released a buoyant set of interim results in-line with the recently upgraded forecasts and continue to show strong growth. H1/24A revenue increased by 17% YoY to £25.6m whilst Adj PBT increased substantially by 66% YoY to £2.8m, with increased profitability across all divisions. Through the Group’s targeted R&D it remains well-positioned to take advantage of the rollout of EV buses across the country, demand for energy-efficient displays and further investment into the rail-system. J

Synectics + (SNX, House Stock at 203p) - Material profit upgrade for FY24F

Morning Note – 19 September 2024

Ingenta - Interim Results

Ingenta released its interim results which show a slight divergence of fortunes between its two divisions. Its Content segment has grown strongly by 14% YoY to £1.6m, driven by an upgrade cycle to its new Edify content publishing platform. However, the Commercial division’s revenues declined by 20% to £3.4m, due to a delay in customer conversion cycles pushing revenues to the right. Overall, this means we are conservatively reducing our FY24E adjusted EBITDA forecast by 20% to £1.8m, in line wit

Morning Note – 17 September 2024

Morning Note – 18 September 2024

Zeus Industrials Round-Up - 13 September 2024

The UK industrial sector continues to show promising signs of recovery, with manufacturing PMI reaching a 26-month high of 52.5 in August as all survey indicators but one expanded. Economic data has also been encouraging, with UK pay growth cooling to a two-year low and inflation rising only slightly in July – supporting the case for further interest rate cuts this year by the BoE.

Dillistone Group (DSG LN) - Interim Results

Dillistone, a supplier of software for the international recruitment industry, has announced interim results to June 2024. Despite continued macro pressures in the Group’s target recruitment markets, placing pressure on revenue, tight cost control and improved operational efficiencies has allowed Dillistone to report an improved H1 EBITA performance of £0.133m (H123: £0.04m). Management reiterates its confidence in our FY2024E revenue and PBTA estimates of £4.9m and £0.1m respectively, and post

Maintel - Interims: maintaining strong margin recovery

1H24 has delivered performance in line with the August trading update and unchanged FY24 forecasts, demonstrating the expected strong margin recovery. The revenue and gross profit improvement delivered in FY23 by the natural unwind of the accumulated order book is now complemented by control of opex which has accelerated adj EBITDA and adj EBIT margins back to historic levels of c10% and c7% respectively, with further margin expansion realistic and expected. The group’s strategic focus on the co

PANMURE LIBERUM: TruFin: Blowout H1 with future growth fully funded

Engage XR Holdings - Record revenue, new contract upsell, forecasts reiterated

ENGAGE XR’s H1 24 results show record six-month revenue of €2.2m, a new six-figure renewal with Optima Ed including a 400% increase in licence numbers to over 2k, and a confident outlook that leads us to reiterate our FY24E forecasts. Through H1, ENGAGE revenue growth of +11% yoy to €2.1m was driven by +83% yoy growth in high-margin licence revenue to €1.7m, due to €0.5m from new customers and €1.2m of renewals, including important upsells with InspiredED and Bank of America. The strong momentum

The Swiss army knife for hyperautomation

With a class-leading low-code solution, acting as the ‘hub’, Netcall is now adding ‘spokes’ (i.e. capabilities) at pace and accelerating growth in the process. For today, the company has announced its third acquisition of 2024: Smart & Easy (trading as “Parble”). We upgrade revs and EPS both +2% (i.e. its only small) but as ever - its tech is very relevant and complementary. When taken in combination with Skore and Govtech, we have now upgraded FYJun25 revs and EPS +12% and 20% resp., thus contr

Allenby Capital: EnSilica plc - Update

EnSilica plc announced it has won a Design & Supply contract with Siemens AG. Financials were not disclosed but the Company notes that the Design component of the contract (non-recurring engineering work) will commence in calendar year 2025, with the Supply (initial production phase) expected to start in Q4 2027. We make no changes to our forecasts but note that the new contract win: a) further underpins our FY 2025 and FY 2026 forecasts where we are expecting top line growth of 21% and 28% resp

Adding another string to the bow

New in-store launch in Ireland

Hot on the heels of its first 2 stand-alone store openings (and a 3rd store lease signed), SOS has launched an in-store concession at Arnotts, Ireland’s oldest and largest department store. Online data confirmed Sosandar’s proposition has seen strong demand in Ireland, as is the case in its other targeted catchments, and this concession, although small, is another positive step in its multi-channel development. Today’s brief update also reveals that customer reception to its first 2 stores in Ch