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  • 15 Feb 19
Fidante Daily Digest

Doric Nimrod Air One/Two/Three - Amedeo Air Four Plus – Statement on Airbus | Yew Grove – Acquisition and portfolio update

Companies: Amedeo Air Four Plus Yew Grove REIT

  • 15 Feb 19
Fidante Daily Digest

Doric Nimrod Air One/Two/Three - Amedeo Air Four Plus – Statement on Airbus | Yew Grove – Acquisition and portfolio update

Companies: Amedeo Air Four Plus Yew Grove REIT

  • 12 Dec 18
Fidante Daily Digest

Standard Life Private Equity – Finals to 30 September 2018 | Amedeo Air Four Plus – Interims to 30 September 2018

Companies: Standard Life Private Equity Trust Amedeo Air Four Plus

  • 12 Dec 18
Fidante Daily Digest

Standard Life Private Equity – Finals to 30 September 2018 | Amedeo Air Four Plus – Interims to 30 September 2018

Companies: Standard Life Private Equity Trust Amedeo Air Four Plus

  • 11 Oct 18
Fidante Daily Digest

Amadeo Air Four Plus – Quarterly Report | Doric Nimrod Air One – Quarterly Report | Doric Nimrod Air Two – Quarterly Report | Doric Nimrod Air Three – Quarterly Report

Companies: Amedeo Air Four Plus
  • 11 Oct 18
Fidante Daily Digest

Amadeo Air Four Plus – Quarterly Report | Doric Nimrod Air One – Quarterly Report | Doric Nimrod Air Two – Quarterly Report | Doric Nimrod Air Three – Quarterly Report

Companies: Amedeo Air Four Plus
  • 23 Jul 18
Fidante Daily Digest

Better Capital 2012 Cell – Northern Aerospace sale | Amedeo Air Four Plus – Finals to 31 March 2018

Companies: Better Capital Pcc Amedeo Air Four Plus

  • 23 Jul 18
Fidante Daily Digest

Better Capital 2012 Cell – Northern Aerospace sale | Amedeo Air Four Plus – Finals to 31 March 2018

Companies: Better Capital Pcc Amedeo Air Four Plus

Research, Charts & Company Announcements

Research Tree provides access to ongoing research coverage, media content and regulatory news on Amedeo Air Four Plus. We currently have 28 research reports from 3 professional analysts.

Open
73.0p
Range Today
73.0/75.0p
52 Week
71.5/102p
Daily Volume
40.1k
# Shares
642.2m
Daily Liquidity
(0.01%)
Pension Liability
£0m
Enterprise Value
£2,058m
Market Cap
£478.5m
Latest PE (hist)
68.32
Div Yield
9.21

Latest News/RNS

(more news)
Date Source Announcement
19Feb20 08:46 RNS Disposition of Two Assets
16Jan20 17:40 RNS Dividend Declaration
16Jan20 17:40 RNS Quarterly Report
16Jan20 17:27 RNS Director Declaration
30Dec19 15:46 RNS Holding(s) in Company
11Dec19 12:18 RNS Result of Annual General Meeting
09Dec19 17:41 RNS Half-year Report
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  • 13 Feb 20
Y/e trading update – sales ahead, cash in line

Checkit has provided an encouraging year-end trading update to January, disclosing sales of £11.8m, 5% ahead of forecasts, equivalent to +3% LFL growth (group basis), or +8% (ex. EET; non-core). Cash is also reported at £14.3m – ahead of forecasts, but distorted by non-trading activities. After adjusting for both, we believe the underlying cash position is £12.4m – in line with forecasts, in turn implying that CKT’s investment program (and resulting cash burn) is proceeding as anticipated. The update also splits out Checkit Europe’s and Checkit UK’s sales. While such segmental reporting will not be continued, it is reassuring to note that Checkit Plc has acquired a company (now branded ‘Checkit UK’) in good financial health, as it grew pro-forma sales 7% y/y to £11.6m. Checkit Europe meanwhile grew more strongly, at +30% (but off a low base) to £1.3m. Looking forward, y/e pro-forma sales of £14.8m compares against £17.2m expected in FY21E, implying 16% growth. Driving this, we expect Checkit’s landmark contract win with BP (announced Oct-19) to be a material driver. To remind, Checkit won a three year deal to provide its Real Time Operations Management capability to BP at 320 sites. Naturally, we viewed this announcement very positively – as it provided validation of Checkit’s proposition (at an enterprise scale). We look forward to future news flow, confirming the roll-out is going to plan and - potentially - ‘sub contract wins’ also, as the contract may be extended beyond BP’s (320) owned sites, to dealer-owned sites and internationally also. N/c to forecasts.

Companies: Checkit
  • 18 Feb 20
The Industrial Revelation

BHP could revise down estimates if "viral outbreak is not well contained" in Q1 20, HeidelbergCement sees positive demand in 2020, Kone withdraws from Thyssenkrupp bid

Companies: Rotork Somero Enterprises

  • 12 Feb 20
The Industrial Revelation

UK GDP in line with Dec construction beat but manufacturing miss, Japanese machine tool orders fall 36% y/y in Jan, Boeing nets no orders in Jan

Companies: HAYD HILS JHD OXIG RSW RNO SCPA TWD ZTF SOM GHH

  • 17 Feb 20
WHI Morning Comment: Spectra Systems (SPSY)

Good entry point for great business Only marginally above levels last seen a year ago, we view shares in SPSY at the current price as representing an excellent entry point after coming off on profit taking. This was not, after all, an ordinary year for SPSY but an excellent one, characterised by upgrades, contract wins and most importantly, a significant collection of major opportunities which the company is working through and any of which has the ability to be a game changer for the business. To name a few among many: (1) potential further new work for a G7 central bank (existing client), (2) potential wins from a major Asian central bank, (3) major prospective polymer substrate contract, (4) tobacco smartphone authentication opportunities (TruBrand). As a provider of advanced technology solutions for banknote, product authentication, and secure lottery transactions, SPSY is a highly specialised producer of proprietary equipment, solutions and services, with high entry barriers to match. It is well-invested, hence the enhanced DPS in recent years; and the balance sheet is strong, with $11.1m of net cash (excluding $1.1m of restricted cash) reported with the most recent (H1) results, underpinning future growth expenditure. Importantly, our forecasts only encompass firm business prospects / established contracts. With TruBrand conducting tests in China (see above), this may have affected sentiment, but if so this is misconceived, since (a) this potential future revenue stream is immaterial or non-existent in our forecasts and (b) SPSY is not a one-trick pony – the pipeline is strong with other and major opportunities.

Companies: Spectra Systems
  • 14 Feb 20
The Industrial Revelation

German GDP stagnates in Q4, BorgWarner expects weak 2020, IPG Photonic cuts Q1 numbers on Coronavirus disruption

Companies: CGS JHD OXIG RSW RNO SCPA TRI ZTF SOM GHH

  • 17 Feb 20
The Industrial Revelation

Japanese Q4 19 GDP sees largest fall since 2014 following recent tax hikes, US industrial production fell due to warm weather and Boeing 737 Max issues

Companies: HTG OXIG RSW RNO SCPA ZTF SOM GHH

  • 19 Feb 20
LIBERUM: Luceco* - Buy on weak sentiment

We see Luceco’s recent sell-off as an opportunity to buy into a FCF & balance sheet transformation that we expect to power a multi-year M&A expansion. We estimate Luceco could acquire 3-5% of annual sales financed entirely from FCF, compounding EPS and supporting a material re-rating to >250p over the medium term.

Companies: Luceco
  • 05 Nov 19
Cenkos: Filta Group Holdings Plc -- Trading Update

Trading in FY19E has remained positive with encouraging growth in the Fryer Management segment continuing in North America and mainland Europe. UK operations have also grown revenues with increases in order intake and in regular maintenance work, resulting in Group revenues for FY19E being broadly in line with expectations. However, owing to delays in implementing operational efficiencies and cost reductions, the expected profits growth is taking longer to materialise.

Companies: Filta Group
  • 12 Feb 20
LIBERUM: Babcock - EPS cut 1-2% due to Aviation

Trading statement guides to trading in line with expectations but we reduce FY 20 and FY21 FD EPS by 1% and 2% due to Aviation. Unexpected £85m exceptional in Aviation, and £70m of that is cash.

Companies: Babcock International Group
  • 13 Feb 20
Restructuring actions taken

Consistent with its January update, it has seen difficult underlying markets, particularly in Q4. It has now announced details of previously signalled restructuring aimed at improving operating efficiency, which is expected to reap aggregated annualised cost savings of £1.6m. We have reduced our PBT forecast for 2020 by 10%, while cash generation continues to improve and debt leverage should be less than 1.0x this year.

Companies: Flowtech Fluidpower
  • 14 Feb 20
Cenkos: Brickability Group Plc - Let the acquisition strategy begin

McCann Roofing Products becomes Brickability's first acquisition since IPO in late August and kicks off the ‘Buy and Build' strategy which will focus on related or (client) compatible businesses. It is also on point financially being acquired at a c4x exit EV/ EBITDA and 0.33x EV/sales, both ratios that are below the existing group rates of c7x (to Mar-21) and c0.8x thus instantly ‘adding value'. We fully anticipate McCann being the first in a series of accretive buys that, in parallel with good organic growth, will underpin the long-term investment case. The shares have moved ahead nicely since the inaugural interims (c15%) but remain very attractively rated in nominal and relative terms, plus against our conservatively-based model ‘fair value' of 88p.

Companies: Brickability Group
  • 05 Nov 19
FY19 trading update

Filta Group (Filta) provides cleaning services to commercial kitchens in North America, the UK and, mainland Europe. The company reported that EBITDA for 2H19 would be similar to 1H19 and thus below our expectations. The cost-saving benefits of the Watbio acquisition are still taking longer than expected. Revenue continues to be on track and some extra investment has been made in UK sales staff to maximise the revenue opportunities. We cut our EBITDA expectations for 2019 from £4.2m to £3.3m. Our 2020 expectations are unaltered.

Companies: Filta Group
  • 27 Jan 20
Cenkos: TP Group Plc -- A year of significant growth

A positive trading update from TP Group confirms that the group traded in line with market forecasts for FY19E, with significant year-on-year growth in revenue and Adj EBITDA, and an order book at an all-time high. The acquisition of Sapienza has provided the group with significantly enhanced space capabilities, as well as an expanded geographic presence. Trading on an ex-cash FY20E Adj P/E of c10.5x, we see considerable value in the shares. Buy.

Companies: TP Group
  • 13 Feb 20
Headwinds offset by self-help

Flowtech Fluidpower has issued a trading update this morning, giving greater clarity on near term trading conditions and further detail on its operational cost reduction plan, with a further £1.4m in annualised savings identified to date. Trading conditions remain challenging with H1 FY20 now expected to see a decline in LFL revenue before a return to growth in H2. We take comfort from management’s decisive actions around cost control, and its commitment to continuing to identify further savings. These self-help measures, alongside the investment made in the Group’s centralised delivery platform should preserve profitability despite the anticipated near-term revenue weakness, in line with the wider industry. A focus on cash generation is supportive of the Group’s attractive dividend, with its progressive dividend policy unchanged and a 5% increase in the final FY19 dividend expected to be declared at full year results, representing an attractive FY20 yield of 6.7%.

Companies: Flowtech Fluidpower
  • 18 Feb 20
Initiation of coverage – IHT offers huge opportunity

The group’s potentially game-changing Improved Harness Technology™ (IHT) flexible printed circuit technology offers a substantial growth opportunity as a replacement for the traditional wire harnesses currently used in a range of large-scale markets. The group’s year-end trading update highlighted some specific short-term challenges and weaker market conditions in its RF business, while we feel 2020 should see a strong uptick in activity particularly for IHT. As the investment proposition is based on the success of the IHT, the low share price is a golden opportunity, in our view. Our near-term 180p price target offers significant upside, with much greater rewards possible as contract awards occur.

Companies: Trackwise Designs