Utilico Emerging Markets Trust (UEM) is managed by Charles Jillings, at specialist value-based investor ICM. He reports that, operationally, the trust’s…
Pan American Silver (PAAS) has released its annual mineral reserves and resources statement. While the overall reserves and resources have fallen compared…
discoverIE’s first capital markets day (CMD) in six years was an opportunity for the group to recap how via its buy-and-build strategy it has successfully…
Triple Point Social Housing REIT (SOHO) returned to full dividend cover in H124, with EPRA earnings benefiting from inflation-linked, mostly uncapped rental…
Epwin Group’s H124 results were robust, with management navigating inflationary pressures well. That said, we have reduced our revenue estimates…
SynBiotic has built up a leading platform company that spans the hemp and cannabis industry to cover the full value chain, from cultivation through to…
Intralot reported better year-on-year growth in revenue and EBITDA in Q224 than Q124, although foreign currency headwinds – notably from Argentina…
ADS-TEC supplies intelligent energy storage and management systems supporting the energy transition, including electric vehicle (EV) charging. While the…
Attacq is a diversified real estate investment trust (REIT), which generates revenue from a ZAR22.9bn investment property portfolio made up of shopping…
In H125, Checkit reported year-on-year growth in annual recurring revenue (ARR) of 9%, with strong order intake partially offset by higher churn. Existing…
OSE Immunotherapeutics has announced the initiation of its Phase III registrational study (Artemia) for lead cancer vaccine Tedopi, with the trial launching…
Partners Group Private Equity received a strong €103.7m in realisation proceeds in H124 (c 11% of opening NAV). Proceeds of €70.2m came from…
Calgro M3’s core business is integrated residential housing development and memorial parks. Established in 1995, the company generates the bulk of…
AUSTRIACARD reported a step-up in adjusted revenue in Q224 (+12.4% y o y) as payment card sales re-accelerated and digital transformation technologies…
HELLENiQ ENERGY’s Q224 results showed a continuation of Q124 trends, with refining margins trending down but increased year-on-year oil prices and…
Verve Group’s Q224 figures clearly show the benefit of its strategic focus on privacy-first targeted advertising solutions, with growth well ahead…
H224 continues to be a rewarding period for Basilea Pharmaceutica, with the announcement of a third successive milestone payment for Cresemba in the last…
Oryzon Genomics has announced the commencement of patient dosing in the investigator-initiated Phase Ib trial evaluating iadademstat as a combination treatment…
Gresham House Energy Storage Fund (GRID) is the largest UK fund investing in utility-scale battery energy storage systems (BESS). The BESS sector has faced…
Accsys Technologies has achieved the milestone of starting commercial operations at its Accoya USA plant (the second in the world). The company also reported…
Pebble’s H124 results put it on track to meet FY24 EBITDA market forecasts, set against continuing cautious industry sentiment. Management has been…
Martin Currie Global Portfolio Trust’s (MNP’s) performance was negatively affected in 2022 by the shift in interest rate expectations as US…
Picton Property Income’s previously agreed sale of a vacated office building in Cardiff, to a purpose-built student accommodation developer, has…
abrdn Asian Income Fund (AAIF) is managed by abrdn’s well-established Singapore-based Asian equity team, supported by a 40-strong group of analysts…
OPAP enjoyed improved momentum in Q224 driven by the ongoing innovation of its core products in both retail and online, and the anticipated boost from…
EML Payments’ FY24 results were the first to show the full impact of the liquidation of PFS Card Services Ireland Limited (PCSIL). Continuing operations,…
IRLAB Therapeutics has been granted a new patent in Europe for its lead asset, Phase-III ready mesdopetam, which potentially extends its market exclusivity…
Argent BioPharma is a clinical-stage specialty biopharma company developing therapeutics targeting areas of unmet need. Currently focused on CNS conditions…
Cereno Scientific’s lead asset CS1 has been granted the Orphan Medicinal Product Designation (OMPD) from the European Commission as a potential treatment…
Georgia Capital’s (GCAP’s) net asset value (NAV) per share decreased by 12.8% quarter-on-quarter in Q224 in Georgian lari (down 16.5% in sterling…
Filtronic continues to benefit from the agreement signed with SpaceX in April – it has received a follow-on production order for E-band solid state…
Impact Healthcare REIT continued to generate consistently positive accounting returns in the six months to June 2024 (5.5%), comprising fully covered DPS…
Nanoco Group’s announcement that the collaboration with its European partner is essentially coming to an end is clearly disappointing news. We reduce…
Nabaltec recorded 2.2% y-o-y growth in its H124 revenue (€108.4m). The company’s strong performance in its functional filler segment was the…
The publication of the results of its initial scoping study on the Tunkillia project on 16 July puts Barton well on the road to executing its three-phase…
Cereno Scientific has announced its Q224 results, reflecting tangible progress with its clinical candidates. Key developments include closing of patient…
Edison Investment Research is terminating coverage on CoinShares International (CS). Please note you should no longer rely on any previous research or…
Murray International Trust’s (MYI’s) managers Martin Connaghan and Samantha Fitzpatrick (the previous third manager Bruce Stout retired at…
CoinShares International (CS) redovisade en stark justerad EBITDA under Q224 på 26,6 miljoner pund (jämfört med 11,4 miljoner pund under…
Epwin’s H124 trading update confirmed that management expects to achieve full-year expectations despite market headwinds. Long-term, well-established…
Basilea has announced yet another milestone following the European Commission (EC) approval for Cresemba’s use in the paediatric population (in invasive…
New data were revealed from Actinogen Medical’s ongoing analysis of the now-completed XanaCIDD study that support the view that the company’s…
Mendus’s Q224 results reflect a period of steady progress across its clinical programmes. For vididencel, the Phase II CADENCE trial (for acute myeloid…
Argent, a steel-based beneficiation group with offshore investments, is advancing its strategy of expanding beyond South Africa, focusing on the UK and…
Zalaris delivered a tenth consecutive quarter of year-on-year revenue growth in Q224 to another record of NOK323m. The company continued to win new business…
CoinShares International (CS) posted a strong adjusted EBITDA in Q224 of £26.6m (vs £11.4m in Q223), which included two one-off factors: the…
SIGA Technologies announced another contract win with the US Department of Defense (DoD), which is for the procurement of c $9m in TPOXX. This is the third…
The acquisition of certain assets of CTD Tiles (CTD) brings complementary activities to Topps Tiles’ (TPT’s) existing Omnichannel and Commercial…
While the results from Actinogen’s XanaCIDD exploratory Phase IIa study in patients with major depressive disorder (MDD) did not meet the primary…
The uptrend in Cresemba sales in Asia-Pacific and China triggered the receipt of Basilea’s third milestone payment of US$1.25m from Pfizer for the…
PVA TePla’s (PVA’s) Q224 results were strong and management reiterated its FY24 guidance and FY25 outlook of moderate growth, despite a weak…
Nano Dimension reported record revenue of $15.0m in Q224, slightly higher year-on-year and 12% higher quarter-on-quarter. The Reshaping Nano initiative…
The Q125 results shine a light on the latest initiatives to underpin the inherent value within Singapore Post, which include a review of the Australian…
Information Services Corporation (ISC) has entered a new era of strategic growth, striving to double both revenue and adjusted EBITDA (on an FY23 basis)…
AAC Clyde Space offers exposure to the fast-growing low Earth orbit space market. The difficulties experienced in Q2, affecting full year expectations,…
Foxtons Group’s H1 results clearly highlight the success of the strategy the company embarked on at the start of last year. Although there is still…
ProCredit Holding (PCB) recorded strong sequential loan book growth of 3.8% in Q224 (and 6.9% in H124), a run-rate ahead of management’s FY24 guidance…
The Biotech Growth Trust (BIOG) has two experienced managers, Geoff Hsu and Josh Golomb, at leading global healthcare specialist OrbiMed. They remain very…
JDC Group’s (JDC’s) H124 results were strong, with organic revenue growth close to 20% and an EBITDA margin of 6.5% (H123: 6%). Management…
VietNam Holding (VNH) posted a solid net asset value (NAV) per share total return (TR) in the first seven months of 2024 (7M24) of 14.5% in US dollar terms,…
Kolibri Global Energy (KEI) reported Q224 results that saw double-digit increases across all financial and operating metrics on a y-o-y basis, with production…
Weaker global automotive production in 2024 is proving a challenge for Dowlais Group. Benefits from the restructuring programme and market recovery in…
Although the topline results of PALM 007 (studying SIGA’s tecovirimat in the treatment of mpox) did not meet the statistical significance for the…
Dentsu’s H124 figures show sequential quarterly improvements, with the group posting organic growth of 0.2% in Q2. Encouragingly, this is in part…
Basilea’s H124 results reflect strong momentum across its pipeline and we expect the pace to accelerate in H224. The key highlight of the period…
Immix Biopharma’s second quarter was headlined by intensified clinical activity for lead CAR-T asset NXC-201 (targeting amyloid light chain amyloidosis,…
BB Biotech (BION) offers investors exposure to the innovative, rapidly expanding biotech sector. It is the largest biotech investor among its investment…
Deutsche Beteiligungs (DBAG) reported a c 4% NAV total return in 9M24, supported primarily by higher valuation multiples on the back of more benign public…
Pan American Silver (PAAS) delivered a robust set of Q224 results, with lower silver production offset by the stronger sales and commodity prices. This…
Sylvania’s Q424 results were negatively affected by a delayed recovery in production following the 22-day strike during Q324. This resulted in 21%…
BlackRock Greater Europe Investment Trust’s (BRGE’s) co-managers Stefan Gries and Alexandra Dangoor remain positive on the trust’s prospects…
Verve’s AI-driven, privacy-first advertising solutions are gaining good traction and market share is increasing, with a 33% uplift in the number…
CLIQ Digital’s H124 results were as expected following the July trading update, at which point the company lowered its guidance. The change in the…
S&U’s H1 trading statement revealed similar trends to those in Q1. Advantage Finance remains in a consolidation phase amid industry discussions with…
Team Internet’s H1 earnings showed resilience despite continued headwinds in online marketing. Going into the typically seasonally stronger H2, we…
AFT Pharmaceuticals has expanded its licensing partnership with Hikma in the US to include distribution of the recently launched Combogesic tablets (Maxigesic…
Wheaton Precious Metals’ (WPM’s) Q224 results exceeded our forecasts, as well as the market’s. In general, WPM produced more than we…
Custodian Property Income REIT (CREI) has published its Q125 NAV and trading update. With rental growth continuing, Q125 DPS (+9% vs Q124) is in line with…
Target Healthcare REIT has released its Q424 trading update. We expect the full year results to be published in late September. Income and capital values…
Altron’s AGM trading update confirmed that the positive momentum seen in H224 has continued so far in H125. The company also announced that it had…
4imprint has continued to trade better than its underlying market across H124, with revenues 5% ahead of H123. The North American promotional products…
HgT posted a 12-month net asset value (NAV) total return of 12.2% to end June 2024 (based on preliminary unaudited H124 valuations), maintaining its impressive…
The completion of Regional REIT’s (RGL’s) £110.5m equity raise has reduced gearing, including repayment of its retail bonds, and provides…
In FY24, Claranova had a relatively stable year from a revenue perspective but expects to report a significant increase in profitability due to its focus…
Renewi has made a solid start to the year with no change to guidance. It is clearly well placed in the growing circular economy and exiting the UK Municipal…
Tinexta’s H124 results highlighted a weaker revenue profile in Q2 than Q1, mainly due to what management believes are temporary effects, as well…
Topps Tiles’ (TPT’s) updated medium-term strategy is focused on leveraging its core competitive strengths into much larger addressable markets,…
SIGA Technologies had another strong quarter in Q224, driven by intravenous TPOXX (IVT) deliveries to the Strategic National Stockpile (SNS) and incremental…
FY24 was a pivotal year for Filtronic, with revenue growth of 56% and operating margins expanding 12.7pp to 14.2%, as adoption of its technology in the…
Edison Investment Research is terminating coverage on AGBA (AGBA) and Norcros (NXR). Please note you should no longer rely on any previous research or…
Edison Investment Research is terminating coverage on AGBA (AGBA) and Norcros (NXR). Please note you should no longer rely on any previous research or…
Oryzon’s Q224 results summarised an active quarter for its clinical pipeline, with multiple milestones expected in H224. Central to the H224 momentum…
Melrose Industries’ impressive H1 performance demonstrates the strength of the business, assisted by aftermarket exposure, given the current supply…
IP Group’s largest life sciences holding at end-2023, Oxford Nanopore (ONT), which developed a new generation of nanopore-based sensing technology,…
Metro Bank (Metro) reported a loss before tax of £26.8m in H124 mainly due to a weaker net interest margin (NIM), partly offset by lower impairments.…
Freelancer reported a mixed performance in H124, with Escrow.com volumes down significantly after a very strong Q123, while the Freelancer platform benefited…
Picton Property Income’s Q125 trading update shows DPS, increased by 6% from Q423, fully covered by EPRA earnings. Our unchanged forecasts show continuing…
Greggs’ H124 results demonstrate the ongoing benefits of its multiple levers to drive revenue growth as well as a pleasant surprise on operating…
On 29 July, Pan African Resources (PAF) announced it had produced 186,039oz gold in FY24 at an all-in sustaining cost (AISC) of US$1,350/oz. This was within…
CLIQ Digital has lowered its financial outlook for FY24 due to the transition to new sales channels in H124. This was coupled with elevated churn following…