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Sparks Team
21 February 2019 · 1 min read

Serco Group (SRP); 2018 reported operating profit up 282% at £80.5m

Positive free cash flow after 3 years was £25m

For the year ended 31 December 2018, despite a 4% year-on-year fall in revenue in terms of reported currency, underlying diluted EPS witnessed a 55% increase from 3.36p in 2017, to 5.21p. Revenue at constant currency declined 5.6% in H1 but grew 2.5% in H2.

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Paul Hickman
21 February 2019

McBride (MCB); post profit warning 24 hours before its results announcement

It is understandable that McBride wanted the shock of its current year downgrade to dealt with ahead of today’s interim results

Having structured a “repair, prepare and grow” plan since 2016, its understandable that McBride wanted the shock of its current year downgrade to dealt with ahead of today’s interim results. Yet a profit warning 24 hours before a results announcement is an unusual, and some would think, absurd way of getting the bad news onto the table. It is untimely during the main phase of the “Growth” period scheduled to end in Q419.

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Sparks Team
21 February 2019

Premier Technical Services Group (PTSG); denies knowledge of reason for recent share price movements

Net bank debt was £11.9m as of December 2018 compared with £18.3m in 2017

PTSG has released a statement noting the share price movement in recent weeks, but denying any knowledge of why the movement occurred. The final results, expected on 26 March 2019 are anticipated in line with the board’s expectations.

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Sparks Team
21 February 2019 · 2 min read

Keywords Studios (KWS); acquires Dutch-based cloud-based software platform GetSocial

GetSocial is expected to become profitable in 2020

Keywords announced the acquisition of GetSocial B.V. GetSocial is a cloud-based software platform that provides a comprehensive suite of functions, enabling game developers to manage all social interactions between their games, players and friends’ network.

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Sparks Team
21 February 2019 · 2 min read

European Assets Trust (EAT); UK High Court approves migration from the Netherlands

The migration is expected to become effective on 16 March 2019

European Assets Trust declared that the UK High Court agreed a migration from the Netherlands to the UK. This will result in the absorption of European Assets Trust N.V entire portfolio by EAT PLC, with shareholders entitled to receive one ordinary share in EAT PLC in exchange for each share held in European Assets Trust N.V (EAT N.V).

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Sparks Team
20 February 2019 · 2 min read

Pan African Resources (PAF); reports robust performance during half year ended Dec 2018

Revenue from continuing operations was aided by a rise in gold produced by Barberton Mines

Pan African Resources reported strong performance for the half year today. The company’s PAT and EBITDA increased 127.3% and 83.3% to £7.5mn (2017: £3.3mn) and £18.7mn (2017: £10.2mn), respectively. Revenue from continuing operations increased 46.8% to £75.3mn (2017: £51.3mn), while EPS stood at 0.39p per share (2017: 0.18p per share). Net debt increased to £102.7mn (2017: £39.2mn) as a result of financing Elikhulu’s construction.

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