A worrying level of 2024 FCF guidance sweeps away the 11k in job cuts

Vodafone has reported an overall weak FY23 performance although in line with expectations. The worrying point is that FY24 free-cash-flow is expected to be down by c.20% yoy and lfl. Margherita della Valle has announced a plan to straighten out the group with 11k of job cuts. The stock is down by 3% this morning which is probably an opportunity to invest in Vodafone for the long term although caution on the FY24 free-cash-flow could dampen investor enthusiasm.

Hybridan Small Cap Feast - 23 Feb 23

23rd May 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment objectiv

Morning Note – 5 June 2023

CyanConnode (CYAN LN) - Building the order book

The company has received an order for 600k smart metering modules for IntelliSmart’s project in Uttar Pradesh

BATM+ (BVC, House Stock, 23.9p) - Edgility, North America emergency services

Morning Note – 18 May 2023

SRT Marine Systems - £145m SRT-MDA coast guard contract win establishes visibili

Following an extensive selection and negotiation process, the highly anticipated £145m (US$180m) contract to provide an integrated SRT-MDA system to a Foreign Coast Guard customer has been signed, the largest CG Systems contract to date. The contract follows both the letter of intent announced on 23 March 2023 and formal financing agreement of a UK government (UKEF) loan to the overseas government. Project implementation, structured as manageable milestones worth c.85% (c.£123m) of the contract

Morning Note – 19 April 2023

BATM (BVC) - House Stock at 25p - Edgility progresses, revised forecasts

Bigblu Broadband - Strong progress in H1, FY23 & FY24 EBITDA upgrades of +3%

BBB has delivered strong operational progress in today’s H1 trading update, and while we revise our revenue forecasts due to Australia and FX, we upgrade our adjusted EBITDA, EFCF, and net cash, as management continues to generate efficiencies and focuses on realising shareholder value. H1 revenue of £14.9m reflects Australasia’s H1 growth being impacted by Starlink, and we expect a strong rebound in H2 as SkyMesh leverages new NBN Co tariffs, which have received excellent feedback and substanti

Hybridan Small Cap Feast - 14 Mar 23

14 March 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment objectiv

Hybridan Small Cap Feast - 17 May 23

17th May 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment objectiv

Growth Companies - Share & share alike Sell in May?

Allenby Capital TMT Update 27.08.19 (MWE.L, BIRD.L, MPAY.L, STAR.L, CCT.L)

MTI Wireless Edge Ltd* (MWE.L, 22.2p/£19.4m) | Blackbird plc* (BIRD.L, 10.8p/£31.2m) | Mi-Pay Group plc* (MPAY.L, 8p/£3.7m) | Starcom plc* (STAR.L, 1.25p/£4.3m) | Character Group (The) plc* (CCT.L, 425p/£90.8m) |

SHORE CAPITAL - Share & share alike