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Paul Hickman
11 December 2018 · 3 min read

Carpetright (CPR): trading results make grim reading

Carpetright’s trading results reveal revenue down 15.7% to £191.1m, and underlying pre-tax loss of £12.4m against an H1 FY18 profit of £1.2m. UK like-for-like sales, down 12.7% seem bad enough. But that masks a significant retreat from disaster in the first quarter, down 16.8% as customers baulked at leaving deposits with a company on the brink.

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Sparks Team
11 December 2018 · 1 min read

Oxford BioDynamics (OBD); final results keep revenue unchanged at £1.2m

Oxford BioDynamics reported an operating loss of £2.6m and cash of £18.3m as of 30 September 2018

Oxford BioDynamics’ released its final results today, reporting that the EpiSwitch platform has delivered progress in the areas of human and equine fitness. A collaboration was also announced in the area of sports-related concussion.

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Sparks Team
11 December 2018 · 2 min read

MedicX Fund (MXF); reports EPRA EPS increases of 11.4% from 3.5p to 3.9p

The investment advisor has agreed to abolish the performance fee and lower advisor fees

In its results for FY ended September 2018, MedicX reported a strong performance, with 14.8% total return on EPRA NAV and a 6.9% increase in EPRA NAV per share to 81.8p from 76.5p. PBT rose 47.4% to £49.1m from £33.3m in 2017. Value of the property portfolio increased 18.6% to £806.7m. Quarterly dividend of 1.51p per share was announced on 1 November. Total dividends per share for the FY was at 6.04p.

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Sparks Team
11 December 2018 · 2 min read

Diurnal Group (DNL); submits regulatory package for regulatory advice on Chronocort

Diurnal’s cortisol replacement product for adrenal hyperplasia Chronocort demonstrated significant benefits for patients

Diurnal has submitted a regulatory package, requesting scientific advice for Chronocort, based on detailed analysis of data from the largest ever clinical trial programme in congenital adrenal hyperplasia (CAH). 

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Paul Hickman
10 December 2018 · 2 min read

Photo-Me (PHTM); interims not pretty with adjusted pre-tax profit down 7.9%

Strategy was focused on the expansion of Laundry operations and deployment of secure photo ID upload technology

At interim the picture is not pretty for Photo-Me, with adjusted pre-tax profit down 7.9% at £26.0m on revenue down 2% at £119.8m. However, the interim dividend has been maintained at 3.71p. The good news is that underlying revenue increased by 2.5%, while operations in Japan have recovered faster than expected, with underlying Asia operating profit aside from restructuring up 15%.

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Sparks Team
10 December 2018 · 1 min read

Scottish Investment Trust (SCIN): announces FY18 results

Earnings per share rose 12.8% to 26.0p from 23.1p in 2017

In its results for the year ended October 2018, the company reported a dividend per share (dps) increase of 6% to 21.2p - 35th consecutive yearly rise. Share price total return increased 1.9% with a NAV total return of 1.1%.

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Paul Hickman
10 December 2018 · 2 min read

Hollywood Bowl (BOWL); full year results show strong performance

The company is pursuing a strategy of organic growth plus investment

The shift to experiential leisure has driven strong performance at Hollywood Bowl. The company has completed its second year since IPO with a strong performance.

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Sparks Team
10 December 2018 · 2 min read

e-Therapeutics (ETX); signs a one-year collaboration agreement with Novo Nordisk

Both the companies will use e-therapeutics’ Network-Driven Drug Discovery (NDD) method to find novel intervention strategies

e-therapeutic signed a one year collaboration agreement with Novo Nordisk, a company specialising in diabetic care.  Under the agreement, both the companies will use e-therapeutics’ Network-Driven Drug Discovery (NDD) method to find novel intervention strategies, biological pathways and compounds for testing that could possibly form the basis of novel therapies.

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Sparks Team
10 December 2018 · 2 min read

Avacta Group (AVCT); collaborates with LG Chem Life Sciences

Avacta Group will generate and carry out early-stage optimisation of its Affimer drug candidates against multiple undisclosed targets

Avacta Group announced today a major multi-target therapeutics development partnership and license agreement with LG Chem Life Sciences. The company will receive royalties on any future product sale, while LG Chem will cover Avacta’s research costs.

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Paul Hickman
7 December 2018 · 2 min read

Games Workshop (GAW); indicate strong first half sales

Progress is “considerable” despite margins 2.5ppts lower

In neutral tones, Games Workshop indicated first half sales of £124m and operating profit of £41m. That represents growth of 14% and 6% respectively. The company says that, so far, this is in line with expectations for the year to May 2019.

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