Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on CLIPPER LOGISTICS PLC. We currently have 8 research reports from 1 professional analysts.
|01Dec16 07:00||RNS||Half-year Report|
|09Nov16 07:00||RNS||Trading Update|
|02Nov16 07:00||RNS||Joint Venture with John Lewis|
|17Oct16 03:46||RNS||Result of AGM|
|11Oct16 12:00||RNS||Exercise of Options|
|03Oct16 12:00||RNS||Exercise of Options|
|20Sep16 08:45||RNS||Clipper signs new 10yr contract with John Lewis|
Frequency of research reports
Research reports on
CLIPPER LOGISTICS PLC
CLIPPER LOGISTICS PLC
N+1 Singer - Morning Song 02-12-2016
02 Dec 16
The return to profitability in H2 and for the year as a whole is encouraging, albeit activity levels have been lower than our expectations. We have reduced FY16 PBT from $2.0m to $0.3m but would note that the balance sheet remains very strong with net cash of c.$4.5m expected at the year end. We await more details of the outlook for the new product ranges and for FY17 in general with the final results in early 2017.
N+1 Singer - Clipper Logistics - Expecting material contract wins in Cal. ‘17
02 Dec 16
Clipper delivered a solid set of interim results yesterday, with significant revenue and profit growth continuing in all divisions. Our initiation note in September identified the Group’s Click and Collect offering and contract win momentum as two future earnings catalysts. Over the Black Friday/Cyber Monday period, Clipper has proven its Click and Collect capabilities and we see potential for a number of significant Click and Collect contract wins in early to mid Cal. ’17. We also increasingly see potential for growth in the European business where the management team has been strengthened with a renewed focus on e-fulfilment. With a number of opportunities already in discussion, we expect contract win momentum to build in the region. We reaffirm our Buy recommendation and upgrade our target price from 370p to 400p, implying an FY’18 P/E rating of 27x.
N+1 Singer - Clipper Logistics - Interims highlight further significant growth
01 Dec 16
As flagged in the H1 trading update in November, trading for the first half of the year was in line with expectations, with further significant growth in revenue (up 16.5%) and PBT (up 25.5%). The outlook statement is positive, with the new business pipeline at a strong level and the Board expecting positive momentum to continue into the second half. Clipper’s share price has performed well since our initiation note in September and is now near our target price of 370p. We will look to review our valuation after the analyst meeting, but we believe the medium term outlook for Clipper is positive, with further contract win potential supported by continued growth in online retail.
N+1 Singer - Morning Song 01-12-2016
01 Dec 16
WYG’s interims confirm a period of strong progress in the UK and MENA as well as significant growth in the order book. Market conditions in the UK look to be supportive, with further positive measures announced in the Autumn Statement. Meanwhile, WYG’s international businesses continue to access significant EU funds, particularly under accession assistance programmes. Current year forecasts look well underpinned (70% cover) and we see continued scope for organic growth to be augmented by earnings enhancing acquisitions. In our view, recent share price weakness (P/E rating of just 8x) is unjustified and overlooks WYG’s unique offering and growth ambitions.
N+1 Singer - Clipper Logistics - In line H1 trading update
09 Nov 16
Clipper has issued a brief, but in line trading update this morning, confirming continued growth in revenue, operating profit and net earnings. The Group says it is confident that continued organic growth, coupled with the benefit of new contract wins and the recently announced Click and Collect JV will continue to deliver a strong performance in H2. This is an encouraging update. We continue to believe that the Buy case is compelling, with potential for outperformance of current forecasts. The Click and Collect service is not yet incorporated into our forecasts, but we believe it has potential to provide a significant profit contribution in the next four years. We leave our target price unchanged at 370p (implying an FY’18 P/E multiple of 25x) and remain at Buy.
N+1 Singer - Morning Song 02-11-2016
02 Nov 16
NCC Group shares have fallen sharply (-43%) after the disappointing trading update in October. We are downgrading our FY’17 expectations by 13% but believe the business remains a fundamentally attractive asset. We see the problems highlighted last month as a short term utilisation issue, and expect the group to return to organic growth in FY’18, albeit from a lower base. Our conservative SOTP valuation results in a target price of 266p, offering significant upside from the current price (194p). Cyber security remains a highly attractive area of structural growth and there are limited ways to play the theme in the UK market. We see this share price weakness as a rare opportunity to gain access to the space and expect investor confidence in NCC to return in the coming months.
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.
N+1 Singer - Small-cap quantitative research - Momentum screen refresh + 10 focus stocks
12 Jan 17
We have refreshed our momentum style screen for the first time since inception on 26 July 2016. As before, the screen selects the 25 stocks exhibiting the most extreme momentum characteristics, according to our measurement method. From these we have selected 10 to focus on. Since inception the screen has underperformed both the main small-cap and micro-cap indices against a background of generally rising momentum. We have noted a subset of the basket, where decelerating momentum at the time of measurement appears correlated with significant share price falls since selection. We shall monitor this factor with the new screen, albeit there are only two such stocks showing this pattern, namely Lamprell (not rated) and Gear4music (not rated).
N+1 Singer - Morning Song 12-01-2017
12 Jan 17
As anticipated, the second half has again been stronger than H1 and results will be broadly in line with expectations. In line with this, the order book has continued to grow and is at record levels. This confirms that significant progress has been made in the Group’s shift towards its Technology Products division which, as targeted, contributed c.60% of group revenue in FY16. The small acquisition of Cable Power also gives a complementary boost to the product range. It is also worth noting the significant reduction in net debt, £1.0m ahead of our forecast. We remain supportive of the Group’s strategy and continue to see a bright future as this transition towards a design led technology solutions business continues. We look forward to more detail in March at the final results.
N+1 Singer - Best Ideas 2017 - Top picks
04 Jan 17
Today we publish our Best Ideas for 2017 - 12 stocks that we believe have excellent prospects in the current year together with a detailed discussion of what we see as the key sector and market themes for 2017. Our top picks are Cineworld, Elementis, Herald Investment Trust, Hill & Smith, IQE, MySale, Redde, ReNeuron, RhythmOne, SDL, Servelec and Severfield.