Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on EARTHPORT PLC. We currently have 47 research reports from 3 professional analysts.
|05Dec16 07:00||RNS||Change of Adviser|
|02Dec16 11:26||RNS||Result of AGM|
|21Nov16 07:00||RNS||Earthport signs agreement with Axis Bank|
|15Nov16 07:00||RNS||Issue of Equity|
|14Nov16 12:32||RNS||Holding(s) in Company|
|03Nov16 09:19||RNS||Board Change and New CCO - Replacement|
|03Nov16 07:00||RNS||Board Change and New Chief Commercial Officer|
Frequency of research reports
Research reports on
N+1 Singer - Morning Song 21-11-2016
21 Nov 16
Instem has indicated that a number of contracts in Clinical are likely to slip into FY17 and that FY16 results will be behind expectations. There is also some uncertainty over the timing of other licence sales and, as such, a range of outcomes is possible. Our revised forecasts effectively assume the worst case scenario. Importantly, we see these issues as short term timing issues, with the medium term outlook unchanged.
N+1 Singer - Earthport - Agreement to provide outbound cross-border payments in India
21 Nov 16
Earthport has announced that it has signed an agreement with Axis Bank, India’s third largest private sector bank, to enable outbound cross-border payments. This agreement follows swiftly on from the Reserve Bank of India (RBI) approval which was granted earlier this month. The speed at which Earthport has managed to sign this agreement gives us confidence in the level of demand for the service. Increasing the group’s presence in Asia was a key objective of the additional funds Earthport invested in FY’16, the results of which are now starting to come through. With the group showing strong momentum across a number of geographies, and on track to return to break-even in Q4’17, we believe the shares are highly attractive. There are a number of catalysts on the horizon and we continue to believe that the group is very well-placed to gain a significant share of the vast cross-border payments market.
N+1 Singer - Earthport - Approval for outbound services for banks in India
03 Nov 16
Earthport has announced that The Reserve Bank of India (RBI) has granted it approval for operating outbound cross border payment services for banks in India. The group was already facilitating inbound payments into India on behalf of its overseas clients. The approval was granted after extensive reviews of Earthport’s solution by the Indian Bank’s Association (IBA), providing further validation of the group’s cross border payments network and compliance procedures. Increasing bi-directional flows on the network has a positive margin effect for Earthport, so this is an encouraging development. The group is engaged with several banks in the region to begin delivering the service and we expect to hear further newsflow in due course.
N+1 Singer - Morning Song 03-11-2016
03 Nov 16
Overall trading for the year appears to have started slightly slowly overall but with underlying revenues making progress and profits flat for the period. Slow profit progress was already expected due to the previously signalled growth orientated investment being made. A material timing change on a Compliance unit contract, strong growth in AXCO and buoyant Health performance bode well for revenue performance looking forward. Visibility levels are said to be good underpinning managements confidence that the group is on track for the year. Wilmington remains a good play on the growth in global regulation and compliance. BUY
N+1 Singer - Morning Song 26-10-2016
26 Oct 16
Verona Pharma has been awarded its second Venture and Innovation Award from the UK Cystic Fibrosis Trust for the development of RPL554 in Cystic Fibrosis (CF). The award signals the significant potential for RPL554 to be developed as a novel treatment for Cystic Fibrosis. Preliminary data supports the molecule’s potential utility in this indication, demonstrating RPL554’S ability to activate an ion channel known to be dysfunctional in CF. The award will support a Phase IIa clinical trial expected to commence in H1 2017. Preparations have also started for Phase IIb trials of RPL554 as a nebulised treatment for COPD with clinical dosing expected to commence in Q2 2017. We remain extremely encouraged by the expanding opportunity of RPL554 and Verona Pharma’s future prospects.
Taking a prudent road
28 Nov 16
As flagged in September, H1 2017 profit is indeed below LY; adj. PBT of £0.5m compares with £1.5m in H1 2016 as Trakm8 invests heavily in new technology and acquisition integration. Management remains confident in another very strong H2 performance and in particular is focused on closing a couple of large high-margin software-related sales which would see the group meeting the original FY 2017 expectations of £5.9m adj. PBT. However, should these fall outside the March year-end, profits are only likely to be in line with last year’s £3.9m, albeit on a growing revenue base. Prudence dictates we assume a worst-case scenario in our forecasts so that surprise is only in the upside – if the deals close in the year, the company will meet those original revenue and profit expectations.
N+1 Singer - Morning Song 30-11-2016
30 Nov 16
Sanderson has delivered full year results in line with expectations and the 19 October trading update after a strong finish to the year compensated for a slower start. A healthy level of pre-contracted recurring revenue (50%), incremental sales to existing customers and new customer wins at higher average order values helped deliver solid revenue growth in both the Digital Retail (+9%) and Enterprise (+12%) divisions. A decent order book and good sales momentum suggest that the company is on track to deliver on unchanged profit expectations for the current year. We continue to view the valuation (FY17 EV/EBITDA 8.6x) as undemanding given an attractive combination of accelerating growth potential, strong cash generation and growing dividends.
N+1 Singer - Eckoh - In line interims, US secure payments gathers pace
29 Nov 16
Eckoh delivered interims in-line with expectations. UK growth was 11% whilst the US, reflecting a full period for PSS now accounts for 30% of sales. US Secure Payments wins gathered pace, with much larger contracts being won on SaaS-style pricing models and the pipeline at record levels. With contracts won in the first half feeding through strongly into the second half and given the group’s high level of recurring revenues (76%), the outlook remains positive for the rest of the year and we make no changes to forecasts. Eckoh has exceptional growth opportunities, particularly in the US, and we believe it can convert this to strong shareholder value.
N+1 Singer - Morning Song 05-12-2016
05 Dec 16
RTHM is acquiring a profitable Canadian listed mobile specialist for equivalent of US$42.5m consideration in shares (88.235m). This helps adds to two growth vectors RTHM is targeting; (i) adds unique exclusive audience (10m unique) and (ii) Exclusive demand Yahoo and Facebook. The business has 15 premium and owned and operated apps which provide users with rewards for activity. The business is expected to deliver c$9m of EBITDA in FY18 including $2m of cost synergies. This equates to just 4.7x EV/EBITDA. This marks what we see the first step in RTHM activity to scale the business and deliver on margin potential (see our initiation notes). Our initial estimates for EPS revisions are very significant - for FY18 are 2.3 cents (currently 0.6) and for FY19 4.3 (currently 2.5). There is a call at 830 for investors and we will revise post this.
N+1 Singer - Morning Song 29-11-2016
29 Nov 16
Vp has reported another impressive set of interims, confirming strong growth in most markets and a positive outlook. Recent acquisitions are bedding in well and the full year outturn is set to exceed previous expectations (5%/6% EPS upgrades in FY17/FY18). The recent Capital Markets Day provided a reminder of Vp’s qualities (specialist focus, high returns, strong cash generation) and its growth potential, which in our view are not reflected in a modest <11x P/E rating. We firmly believe the shares are due a re-rating and see intrinsic value in excess of 800p.