Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on Modern Water. We currently have 9 research reports from 2 professional analysts.
United Oil & Gas (UOG.L) an oil and gas exploration and development company brought to the Official List (Standard Segment) in July 2017 by way of a reverse takeover of Senterra Energy plc. No capital to be raised, expected market cap of £17m and expected 28 Feb Techniplas –global producer and support services company providing highly engineered and technically complex components, making the supply chain to original equipment manufacturers more efficient. FYDec17 rev $515m.
Companies: SKIN MPM MWG EUSP VAST PLMO MYSL CLNR SMS HDD
PetroTal (TAL.TO) - The exploration and production company focused on oil assets in Peru is seeking a secondary AIM quoting before the end of 2018. Path Investments— First acquisition of a 50 per cent. participating interest in the producing Alfeld-Elze II gas field located 22 kilometres south of Hannover in Germany. Seeking £10m raise. Due early Oct Green Man Gaming—pure play e-commerce and technology company in the digital video games industry. revenue CAGR growth of 26.7% in the last three years to £47.5m. Due 28 Sep. EBITDA Profitable. Offer TBA Crossword Cybersecurity PLC* (NEX:CCS)—the technology commercialisation company focusing exclusively on the cyber security sector is exploring its options in relation to a potential move to the AIM market of the London Stock Exchange which, if it were to proceed, would likely take place over the next few months.
Companies: ICON FISH NWF KOOV POS APPS CLIN MWG MTPH INCE
Inline H1’s generate double digit profit growth; drivers strong | Interim results illustrate a good performance and strong visibility | Interims – progress continues; FY expectations unchanged
Companies: PTY PEG MWG
Green Man Gaming—pure play e-commerce and technology company in the digital video games industry. revenue CAGR growth of 26.7% in the last three years to £47.5m. Due 28 Sep. EBITDA Profitable. Offer TBA Crossword Cybersecurity PLC* (NEX:CCS)—the technology commercialisation company focusing exclusively on the cyber security sector is exploring its options in relation to a potential move to the AIM market of the London Stock Exchange which, if it were to proceed, would likely take place over the next few months. Kropz PLC-Intention to float by the emerging plant nutrient producer with an advanced stage phosphate mining project in South Africa and exploration assets in West Africa
Companies: PEG MWG TIDE COG RBD NTBR AST NSCI FPO SSY
Caledonia Mining (CMCL) – Corporate – Blanket mine resource update | Jersey Oil & Gas (JOG) – Corporate – Interims | Parity Group (PTY) – Corporate – Inline H1’s generate double digit profit growth; drivers strong | Modern Water (MWG) – Corporate – Interims – progress continues; FY expectations unchanged Petards (PEG) – Corporate – Interim results illustrate a good performance and strong visibility | WEY Education (WEY) – Corporate – Nigerian strategy taking shape
Companies: CMCL JOG PTY MWG PEG WEY
Modern Water owns world-leading technologies that help to address some of the key challenges faced in the existential global water crisis. The Group has this morning released full year results to 31 December. The year saw much achieved across the Group but also challenges, including in its Monitoring division’s China operations as flagged up in last week’s trading update, and resulting in the outcome being below our original expectations. During the year, the Membrane division sold its first AMBC licenses in India and China, its first FO license in China and its first AquaPak in Oman, whilst the Monitoring division has been through a period of restructuring, with positive results beginning to come through since the beginning of 2018. Clearly at this stage there are a number of risks but the potential opportunity remains sizeable if management can successfully execute on their strategy. It should also be noted that the full contract for the sewage treatment plant in Gibraltar (worth an estimated £22m) is not currently included within our forecasts, with the Advance Works Contract having been secured in January.
Companies: Modern Water
Clean Invest Africa—Introduction due around 14 Nov. Vehicle established to identify investment opportunities and acquisitions in renewable and clean energy projects/companies or alternative technologies that are used in a socially and environmentally responsible way that will aid the development of the African continent. | City Pub Group - owner and operator of an estate of 34 premium pubs across Southern England. £30m raise. Consistent track record of strong revenue and EBITDA growth, with a three year CAGR from FY14 to FY16 of 34.9% and 44.8% respectively, and an EBITDA margin of 14.7% in FY16. Due Nov. | Boku - Independent direct carrier billing company. Revenues were up 21% to US$10.2 in HYJun17. Q32017, revenues grew to $6.5m, up by 44%. The Company also saw continued growth across all of its key metrics: user numbers, total payment and a positive adjusted EBITDA for the month of September 2017. Due 20 Nov. Offer TBA. | Ten Lifestyle Hldgs. Technology-enabled lifestyle and travel platform providing trusted concierge services to the world's wealthy. Net revenue increased from £20m in the year ended 31 August 2015 to £33m in the year ended 31 August 2017, a compound annual growth rate of 29%. Offer and date TBA. | AfriTin Mining—Demerger from Bushveld Minerals (BMN.L). Raising c. £3.5m at 3.9p. Mkt Cap c. £11.6m. The Uis Tin project (Namibia) is considered the flagship tin asset within the portfolio, as this was once the largest open cast tine mine of its kind in the world. Expected 9 November 2017 | OnTheMarket—Intention to float on AIM to raise c.£50m which will be used to fund the growth of the OnTheMarket.com portal, already the third biggest UK residential property portal provider. Expected valuation £200m to £250m. | OG Graphite, brownfield development-stage graphite company focused on the reactivation of its wholly-owned Kearney natural flake graphite mine and mill located 280 km north of Toronto, Canada. Offer TBA, expected mid November. | Shefa Yamin minerals company focused on the exploration for precious stones in Northern Israel. Net Proceeds will be used to advance the Company's mining project. Offer TBA. | Aviva Investors Secure Income REIT - Targeting £200m raise. Will invest in a diversified portfolio of high quality, long-lease commercial real estate assets located within the UK and leased to predominantly investment grade tenants. Due Dec. | Cabot Credit Management -one of the largest credit management services providers in Europe and the market leader in the UK and Ireland with total 120-Month ERC of £2.2bn. Raising c.£195m. Offer TBA. Due November. | ContourGlobal LP— contracted wholesale power generation businesses, with 69 thermal and renewable power generation assets in Europe, Latin America and Africa. In the year ended 31 December 2016 it generated $905.2m of combined revenue and $440.4m of Adjusted EBITDA. Raising c.$400m. Expected November. | M7 Multi-Let REIT—Intends to raise up to £300m at 100p. Aims to acquire and hold a portfolio of UK regional light industrial and regional office assets diversified by geography, asset type and tenants that is expected to generate stable income returns and, where appropriate, offer the potential to leverage and enhance returns through active asset management initiatives. Due 30 Nov. | En+, international vertically integrated aluminium and power producer with core assets located in Russia. Priced at $14 per GDR. $1.5bn offer of which $0.5bn primary to pay down debt. Dual listing in Moscow. Unconditional dealings 8 Nov. | TMF Group, which provides tax, admin and legal support services, reported to be seeking London IPO to raise c. £200m.
Companies: MWG FCRM RLE ZIOC AUK VERS HWG RENE BCN
Global Ports Holding—Intention to float on Standard List. International cruise ports operator. Seeking $250m raise including $75m primary offer. Dorcaster—Schedule One Update. Admission now expected 3 May. RTO of Escape Hunt raising £14m at 135p Verditek— Intention to float on AIM. On Admission, the Company's subsidiaries will be involved in advanced solar photovoltaic, filtration and absorption technologies specialising in providing environmental services. Raising £3.5m. Admission in May. Eddie Stobart Logistics— Schedule 1 update. Admission expected 25 April raising £122m. ADES International Holding— Intends to join the Standard List in May raising up to $170m plus a vendor sale. Provider of offshore and onshore oil and gas drilling and production services in the Middle East and Africa. Admission expected in May. Tufton Oceanic Assets– Offer extended to 9 May to enable investors to complete further due diligence.
Companies: BRH CLNR WGB MWG PEL AHCG REDX EBQ OTC
Magnolia Petroleum (MAGP.L) | Scotgold Resources (SGZ.L) | Petards Group* (PEG.L) | Manx Telecom (MANX.L) | Turbo Power Systems (TPS.L) | Modern Water (MWG.L) | Clinigen Group (CLIN.L) | Mineral & Financial (MAFL.L) | Mobile Streams (MOS.L) | Frontier Smart (FST.L)
Companies: SGZ PEG MANX TPS MWG CLIN MAFL MOS FST MAGP
Research Tree provides access to ongoing research coverage, media content and regulatory news on Modern Water. We currently have 9 research reports from 2 professional analysts.
|30Mar20 07:00||RNS||Increase in Orders for Reagent Consumables|
|18Mar20 16:31||RNS||Holding(s) in Company|
|18Mar20 07:00||RNS||Agreement signed with Integumen plc|
|04Mar20 07:00||RNS||Appointment of Director|
|28Feb20 12:00||RNS||Holding(s) in Company|
|26Feb20 07:00||RNS||Agreement signed & EcoWaterOS Consortium|
|20Feb20 07:00||RNS||Directorate Change|
Trading below its 5-year PE low, compelling entry point
Companies: Somero Enterprises
Results ahead; forecast upgrades, special dividend, yielding 7% SPSY has announced a strong set of results, with EBITDA and PBTA some 6% and 4% respectively ahead of our forecasts, following a succession of upgrades and some notable wins during 2019. Reflecting the strong momentum, and with forecasts well supported by firm contracts which exist independently of the current global crisis, the company is (1) trading ahead of expectations in the current year, and (2) with strong cashflow, feels confident to announce a special dividend this morning to be paid in June. With meaningful upgrades to the current year, and new, progressive, forecasts for FY2021E, the current outlook is strong at a time when this is rare for a mid-cap company; while key opportunities developed over the past eighteen months continue to be highly promising. SPSY provides advanced technology solutions for banknote, product authentication, and secure lottery transactions as a highly specialised operator, working in fields which offer valuable respite from Covid 19. Cash of $US14.3m is ahead of our expectations and some 13% ahead YoY. Well-invested and with well-controlled costs (and high gross margins), today's results provide further support for our fair value assessment, which in turn is far ahead of the current share price.
Companies: Spectra Systems
US & German manufacturing PMI hits lowest readings since 2009, UK manufacturing PMI heads below 50, BorgWarner expects material financial impact from customer production halts
Companies: AVON CGS HAYD HEAD HILS JHD RNO SCPA TWD TRI ZTF SOM GHH
3 weeks ago, we thought the coronavirus would be a Chinese/Italian phenomena impacting global supply chains, but not triggering full/partial lockdowns across large swathes of the planet. How things have changed.
The Indian Government and Reserve Bank of India has announced several relief packages to combat the adverse impacts of COVID-19 and the lockdown implemented last week. The lockdown encompasses all non-essential industries and has resulted in OPG's industrial customer shutting down operations and reducing their short-term demand levels. As a result of the current market uncertainty, we are withdrawing our forecasts from the market and move our recommendation to Under Review until macroeconomic conditions stabilise. We believe OPG's strong portfolio of customers from diverse industries will enable it to quickly revert to normal operating levels once the situation improves.
Companies: OPG Power Ventures
Breedon is effectively moving to a (temporary) lockdown position on all its sites save Hope cement plant (which will produce to storage) and those in the Republic of Ireland where the principal customer is central and local government and as such will continue to operate until directed otherwise. Crucially, the group is in a strong financial and liquidity position with undrawn facilities of £220m and £60m in cash whilst any unwind of working capital from here is likely to actually generate cash. Moreover, the planned £155m cash outlay on the Cemex assets to be acquired is almost certain to be delayed beyond the coronavirus period due to the associated stalling of the TUPE process and IT migration. This position seen against a cash ‘burn' of probably no more than £15m per month (gross of any government support schemes and noting employee cost is the largest single constituent of fixed overheads) is comfort indeed for shareholders. We are withdrawing our forecasts for 2020 (formerly £200.7m of EBITDA, £113m underlying PBT and 5.6p EPS) and beyond on the simple basis that we cannot predict either the depth or duration of the coronavirus impact. Nonetheless we are happy to retain a Buy on the basis that: (a) there will be no structural damage done to the group's operational, asset or financial base as a result of coronavirus, (b) it should see a rapid scale-up when normality returns and (c) management can be relied on to re-assert relative growth versus its peers which has been a hallmark of Breedon's history to date. For long term investors these are opportune times.
Companies: Breedon Group
At Recruitment, there is a significant variance between customer segments, with food currently strong. Staffline is well placed to benefit from its strong candidate database.
Companies: Staffline Group
The latest body armour contract for the US Defense Logistics Agency is for up to $333m, to be delivered over 3.5 years for a legacy product. Avon had identified it as an incremental value-creating opportunity which, when won, would trigger the contingency consideration of up to $25m for the Helmets and Armor business acquired at the start of 2020. We have increased our FY21 EPS estimates by 13% following the award of the first delivery contract. Avon operates in defence and dairy markets that should be relatively resilient as they are deemed essential in the US, UK and Italy.
Companies: Avon Rubber
Despite a promising start to the year, Filta has inevitably been impacted by the widespread closure of sports venues, universities, restaurants and other similar sites across its key markets, in order to control the spread of COVID-19. This has led to a material reduction in trading. Given the lack of certainty around when such restrictions will be eased, or how quickly consumers will return to normal habits once they are, visibility in the business is very limited at this stage. As such, we withdraw our FY20E forecasts and move our rating to Hold, until such visibility improves.
Companies: Filta Group
The Group has announced interim results, which include the impact of the decision to cease its Thin Film operations, and also extensive Board changes. In view of the Stratasys transaction we remain restricted and can therefore provide factual comment only. Interim results show an IFRS loss before tax of £52.3m and an adjusted loss before tax of £15.0m. A separate announcement covers management succession that will see the Chairman, SID, CEO and CFO leave the Group.
SMS has the morning issued an update to the market in relation to Covid-19. SMS has, with immediate effect, temporarily halted all non-essential field engineering activity, including the installation of smart meters. Essential emergency field engineering work will continue and SMS has increased safety procedures in place to ensure the protection of employees, supply chain and consumers. Whilst this short-term halt in installation activity will have some impact on profitability in the current year, SMS benefits from sustainable and predictable (upwards only) index-linked annually recurring meter rental and data service revenue (£73.2m at end February 2020) which is totally unaffected by the current environment. Whilst the short-term impact on profitability is difficult to quantify precisely and will depend on the length of time installation activity is halted, the full 2m smart meter order book will remain to be completed in its entirety once installation activity recommences. The longer-term prospects for SMS are thus unaffected in our view and the business comfortably has the balance sheet resources and expertise to see it through this difficult period.
Companies: Smart Metering Systems
Unscheduled trading statement indicates an adverse impact from C-19 on the business. In the absence of guidance, we reduce our FY20 FD EPS by 52% from 12.0p to 5.8p. The high public sector exposure around the world is positive.
Companies: RPS Group
discoverIE’s year-end trading update confirms that coronavirus-related disruption in China is expected to modestly affect FY20 earnings. While trading elsewhere has been as expected, with good order wins, efforts to contain the virus in Europe and North America could reduce demand and introduce supply constraints over at least the next quarter. We have revised our forecasts to take a more cautious stance in H121 before factoring in a recovery starting in H221.
Companies: Discoverie Group
FY19 Results: in line with January Trading Update
Companies: Keywords Studios
For fighter pilots, it is a minimum requirement. But having 20/20 ‘visual acuity’ (correct term) does not necessarily mean you have perfect vision (as convention assumes); instead, it indicates sharpness and clarity of vision at a distance. It is measured by a Snellen Chart, which displays letters of progressively smaller size and whereby 20/20 means that the test subject sees the same line of letters at 20 feet that a person with normal vision sees at 20 feet (or 6 metres; but 6/6 simply didn’t catch on).
Companies: ABBY BDEV BWY BKG VTY CRN CSP CRST GLE GLV INL MCS PSN RDW SPR TW/ WJG