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ATTRAQT Group (ATQT LN) Interims show encouraging progress | Bodycote (BOY LN) Strong H1 growth, modest upgrade to guidance | Brooks Macdonald Group (BRK LN) FuM +6.5%: Better markets in Q4, net inflows sustained at 9% annualised | Findel (FDL LN) Strong start to the year with both divisions performing | Frontier Smart Technologies Group (FST LN) Trading in line with revised expectations | Howden Joinery Group (HWDN LN) Solid H1 results given circumstances + on track to meet FY forecasts | Renis
Companies: HWDN RSW BRK BOY ATQT FST
Singer Capital Markets
Bodycote (BOY LN) Positive AGM update guiding to profit slightly ahead of consensus | Oxford Metrics (OMG LN) Continued progress versus goals | Photo-Me International (PHTM LN) Japan competition and restructuring impacts forecasts c15% | Urban&Civic (UANC LN) Buying well to sell better, more to come | Xaar (XAR LN) CFO to depart in November
Companies: XAR MEGP OMG BOY
Be Heard (BHRD LN) Win momentum maintained into 2018 | Bodycote (BOY LN) 15 year contract signed with Rolls Royce | City of London Investment Group (CLIG LN) FuM +1.6% in Q3, no material net inflows but growth in smaller strategy | IFG Group (IFP LN) All change! New leadership team | Strategy The latest ONS data shows the first real wage growth for a year | N Brown Group (BWNG LN) PREVIEW – prelims due on Thursday 26 April
Companies: CLIG BWNG BOY BHRD
Bodycote (BOY LN) Strong FY17 performance, just above consensus | Cambria Automobiles (CAMB LN) In line update and progress with its property developments | Craneware (CRW LN) Strong interims, momentum building | Findel (FDL LN) Positive update on commercial supply arrangement with Sports | Direct | UK Housing Theresa May’s Speech and (overdone) Help to Buy coverage |SDL (SDL LN) Progressing against strategic goals Yu Group (YU LN) Very strong growth and expectations increased again
Companies: CRW BOY RWS YU/
We have increased our forecasts for adjusted profits and EPS by 5% for 2017 and by 3% for 2018 and 2019, following Bodycote’s stronger than anticipated Q4 performance. Our adjusted operating profit estimate of £124.5m for 2017 is in line with updated guidance, ie towards the top of the previous market range. Our 2018 forecast assumes organic sales growth of 3.9% vs. a tough 2017 comparative, but offers potential for further upgrades given the supportive industrial backdrop. Meanwhile the group’s
Companies: Bodycote plc
Actual Experience (ACT LN) 2018 year of execution | Adept4 (AD4 LN) Asset light strategy starting to deliver | Bodycote (BOY LN) Forecasts increased following positive year end update | City of London Investment Group (CLIG LN) Q2 FuM +6%, H1 profits expected in line | Clinigen Group (CLIN LN) H1 trading update in line with expectations | Earthport (EPO LN) Board changes
Companies: EPO CLIG BOY CLCO ACT
ATTRAQT Group (ATQT LN) CEO stepping down, trading in line with October update | Bodycote (BOY LN) Good year end trading update | Carclo (CAR LN) Trading significantly behind; FD, chairman to leave | Sinclair Pharma (SPH LN) Trading update: stronger H2 as expected, EBITDA in-line |
Companies: CAR SPH BOY ATQT
Bodycote has signed a long term outsourcing agreement with Doncasters Group to provide HIP and heat treatment services in the UK. As part of the agreement thermal treatment assets, including a HIP vessel, and c.20 employees at the Doncasters site in Wales transfer to Bodycote. This will provide helpful additional HIP capacity in the UK, although we do not expect the agreement to have a material impact on our revenue and profit forecasts.
Bodycote (BOY LN) Outsourcing agreement providing additional HIP capacity | IQE (IQE LN) Photonics growth drives upgrades as expected
Companies: IQE plc (IQE:LON)Bodycote plc (BOY:LON)
Bodycote reported strong, broadly-based sales growth for H1 17, growth which accelerated within the period. Margin also advanced, leading to a 26% rise in adjusted PBT. Management expects this momentum to continue and increased guidance for the full year towards the top of the range. We have increased our low end PBT forecasts by 14% for 2017 and 15% for 2018 and also increased our target price from 690p to 995p. We believe prospects remain attractive for Bodycote. Industrial data series are sup
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Companies: SYNZENCARCRPRSCEMGAMOXIGMEGPVCTSYMIQENANOCKTBOTBBOYIKAITXGRPEFFULBIOMAUTGHDDHAYDEXOSHOECAKEMAB1SCSFEVRRBGG4MJOULVCPBUR94AHCHOFEMHMLM
Research Tree
Aberdeen Diversified Income & Growth Trust (ADIG LN) Unconstrained and flexible approach | accesso Technology (ACSO LN) Six Flags miss not a red flag | Bodycote (BOY LN) Good growth for H1 17, guidance raised to upper end of expectations | Brewin Dolphin Holdings (BRW LN) Positive Q3 update, upgraded 394p target price | Brooks Macdonald Group (BRK LN) Strong Q4 net inflows but additional cost investment planned | Burford Capital (BUR LN) Exceptionally strong first half results | Itaconix (ITX LN
Companies: ADIG BRW RSW BRK BOY ITX OXB BUR
Whether we know it or not, advanced materials are a core component in the everyday life of the everyday person. They are the key material in items we often disregard, such as printer inks and lotions, to objects which defy the laws of gravity like the Airbus A380 and London’s Shard. Furthermore, these materials are not only essential to many objects and structures, but, due to their superior qualities, are the key to the advancement of many industries. One such example is the use of carbon fibre
Companies: SYN ZEN CAR CRPR SCE MGAM OXIG VCT SYM NANO CKT BOY IKA ITX GRPEF BIOM AUTG AGM HDD HAYD EXO EMH
Hybridan
In our second edition of “Trend spotting” we note how in the last three weeks the defensive rotation trend has gathered pace and further evidence has emerged of the “relative fading” in the UK economy. However we now see early signs of the “risk on” trend starting to reassert itself in equity markets and we look at small cap laggards plus European exposure as ways to play this.
Companies: XAR CHH GNS GHH HILS LWB RPS TRI VCT DPH SYNT EKF SPH BOY INS REDD JUP KMK BCA MYSL
Research Tree provides access to ongoing research coverage, media content and regulatory news on Bodycote plc. We currently have 0 research reports from 8 professional analysts.
Supreme’s FY24 trading update confirms a record performance in the 12 months to 31 March 2024. Organic revenue and profit growth across all four divisions has driven Group revenue +45% YOY to £225m, with FY24 adj. EBITDA almost doubling to ‘at least £38m’, driving record levels of cash generation. Supreme is actively exploring complementary M&A, supported by a debt free balance sheet. Trading on an undemanding FY25 PE of just 6.7x, with a 3.4% yield, we believe downside risks are more than price
Companies: Supreme PLC
Zeus Capital
Companies: FOG PHC FEN BBSN ELIX
Cavendish
Shore Capital
Companies: MPE TRI VNET BVXP HVO
Vianet has published a positive trading update for FY24 with turnover up 7.6% to £15.18m, a 3.5 percentage point increase in gross margin YoY, and adjusted EBITA ahead of market expectations. Net debt continues to fall and closed FY24 at £1.52m (£2.1m at 30 September 2023), demonstrating strong free cash flow generation, even without the benefit of the £0.9m tax receipt received in 1H24, which augers well for a final dividend. The company reported a new contract with Wilcomatic Wash Systems, the
Companies: Vianet Group plc
Capital Access Group
Companies: James Latham Plc
SP Angel
Headlam Group has laid out an ambitious long-term revenue target of between £900m and £1bn, as it seeks to grow its share of the UK floor coverings distributor market. Despite a challenging backdrop due to the low level of residential housing transactions, management is seeking to expand each of its sales channels: Trade Counters, Larger Customers, Regional Distribution and Europe & Other. The FY23 results reflected the more challenging environment and the group trades at a discount to its long-
Companies: Headlam Group plc
Edison
Vianet’s FY24 trading update shows FY24 revenue +1% ahead of our previous forecast, adjusted EBITA +2% ahead, EFCF and net debt +£0.6m ahead, and a strategic new customer win with prominent forecourt operator Wilcomatic. A robust FY25 pipeline and outlook leads us to reiterate our FY25E forecasts at this point, with the update highlighting: strong progress renewing and winning new customers on 3-5 year contracts as they migrate from 3G to Vianet’s advanced 4G LTE solutions; the successful integr
The focus of Hardman & Co Research is on the nine quoted Infrastructure Investment Companies (IICs) and on the 22 Renewable Energy Infrastructure Funds (REIFs): the stocks analysed are all members of the Association of Investment Companies (AIC). We are updating our publication of January 2023, assessing both the lacklustre share price performances during 2023 and the key issues, including interest rates, inflation and power prices. As a 31-strong group, its combined market capitalisation is no
Companies: AEIT ROOF DGI9 INPP GSF SEIT USFP HICL ORIT BSIF TRIG NESF SEQI HEIT GRP GCP FSFL 3IN AERI PINT RNEW BBGI GSEO DORE TENT GRID CORD HGEN AEET
Hardman & Co
Companies: CLA STM GLN FXPO KAV GWMO CEY BHP THX EEE
Companies: Ilika plc
Liberum
24th April 2024 * A corporate client of Hybridan LLP ** Arranged by type of listing and date of announcement *** Alphabetically arranged **** Potential means Intention to Float (ITF) has been announced Dish of the day Admissions: Delistings: What’s baking in the oven? ** Potential**** Initial Public Offerings: Reverse Takeovers: 16 April 2024: Electric Guitar (ELEG.L) Concurrent with its Admission to trading on AIM, Electric Guitar is proposing to acquire the entire issued share capital of 3radi
Companies: FTC AGL SRT SOU G4M AOM SUP
Companies: Gattaca plc
Renewi’s FY24 trading update was in line with management’s expectations and its improved cash generation is reassuring for investors. Attention is now likely to turn the strategic review of the UK Municipals with management stating that they remain on track to update markets by the end of June. This could lead to an exit of key liabilities and leave Renewi as an attractive circular economy investment with strong market positions and organic growth plans, which should assist in generating value,
Companies: Renewi Plc
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