Cenkos Securities

Delivering capital and corporate advice to support sustainable growth

We are an independent specialist securities firm focused on UK small and mid-cap companies and investment funds.
Visit provider site at http://www.cenkos.com/

Latest Content

Vianet Group plc

Cenkos: Vianet Group Plc -- Reopen

Both divisions have traded strongly in H1E. Almost all Smart Zones sites are now operational and the recovering momentum at Smart Machines continues. With a stronger Q2E and improving outlook thereafter, a sequential recovery profile is consistent with our expectations of an H2E weighted FY22E. Depending on cash flow and debt levels, management hopes and expects to return the company to dividend paying status in July.

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27 Oct 21
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SkinBioTherapeutics Plc

Cenkos: SkinBioTherapeutics Plc -- Skin in the game

SkinBioTherapeutics has made significant progress through 2021, and ahead of the launch of its first product, AxisBiotix-Ps on World Psoriasis Day, we provide an overview of the company, its commercial channels and its progress. With the imminent launch of AxisBiotix-Ps, the company is at a significant inflection point, transitioning from a development organisation to a commercial operation. Importantly SkinBioTherapeutics has four further commercial channels in progress behind this lead opportu

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25 Oct 21
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FO 88E DEC EME GTC TRIN UOG WEN

Cenkos: Oil & Gas Sector -- United Oil & Gas, Diversified Energy, 88 Energy, Empyrean Energy, SDX Energy, BHP Group, Lekoil, FAR, Aker BP, Empire Energy, Reabold Resources, Panoro Energy, Woodside Petroleum, Santos, Europa Oil & Gas, Arrow Exploration, NEO

Oil posted the longest stretch of weekly advances since 2015 as OPEC+ producers only modestly supply the market and as US crude supplies shrink. Crude futures rose 1.5% Friday in New York, up for a ninth straight week. President Joe Biden said Thursday night that Americans should expect high gasoline prices to continue into next year because of supply being withheld by OPEC and other foreign oil producers. Stockpiles at the biggest US storage hub are draining to levels last seen when crude pr

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25 Oct 21
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Marlowe Plc

Cenkos: Marlowe Plc -- Strategic acquisition and placing

Marlowe has raised £50m though a placing (at 907p) to fund the £25m earnings-enhancing acquisition of EssentialSkillz, a leading compliance eLearning business, as well as to provide £25m of additional firepower for potential acquisitions. Group run-rate revenues and Adj EBITDA now stand at c£335m and c£60m respectively. We update our forecasts to reflect the transaction (no change at the Adj EPS level as the contribution from EssentialSkillz is offset by dilution from the over-raise). A T+2 EV/A

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22 Oct 21
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IXICO Plc

Cenkos: IXICO Plc -- Contract update

IXICO has announced that one of its clients has put an indefinite halt on a clinical trial for which the company was providing its artificial intelligence medical image analysis. The halt is the result of unexpected preclinical data. IXICO had expected the contract to deliver £0.8m of revenues in FY22E and it represented £3.3m of the £18.8m order book as of the close September 2021. While this news is disappointing, clearly the trial halt has no reflection on the capability of IXICO's technology

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22 Oct 21
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Landore Resources Limited

Cenkos: Landore Resources Ltd -- Drilling re-commenced

Drilling has re-commenced on the BAM Gold Deposit initially targeting the down plunge extension where step-out drilling confirmed the extension of the BAM Gold Deposit along strike to the west. Previously drill hole 0421-814 on line 900E intersected 17.45m at 4.13g/t gold, including 5.98m at 9.80g/t gold. This high-grade section showed similar mineralisation to the high-grade intersections 100m away on line 800E. Mineralisation remains open to the west and down dip. Six drill holes are being dri

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21 Oct 21
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