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FY24 underlying EPS more than doubles y-o-y
Datatec | 02/05/2024
In a second more detailed trading update for FY24, Datatec confirmed revenue growth of 6% to $5.46bn, with Westcon International delivering excellent performance,…
La Arena divestment
Pan American Silver | 02/05/2024
Pan American Silver (PAAS) has announced a sale of the La Arena and La Arena II projects to Zijin Mining for US$245m in cash, US$50m in a contingent payment…
Time to scale
SenSen Networks | 02/05/2024
SenSen’s Q324 results reflect the move to a lower cost base that provides a platform for future profitability. Minor delays to the National Heavy…
Forward Partners deal completed
Molten Ventures | 02/05/2024
Molten Ventures has recently completed the acquisition of Forward Partners, which allowed Molten to further broaden its portfolio, add a complementary…
Executive interview
Molten Ventures – executive interview (2 May 2024) | 02/05/2024
Molten Ventures is a London-based venture capital firm that invests in the European technology sector. It has a portfolio of 118 investee companies and…
Steady climb
Melrose Industries | 02/05/2024
Melrose Industries continues to deliver strong performance improvements and is on track to achieve its ambitious margin targets in 2025 (Engines 28% and…
Unlocking value to drive DPS growth
Picton Property Income | 02/05/2024
Ahead of FY24 results to be published on 23 May, Picton Property Income has declared a Q424 DPS of 0.925p, a 5.7% increase on the previous quarter. The…
Maxigesic IV’s Brazil entry, a foray into LATAM
AFT Pharmaceuticals | 02/05/2024
AFT continues to expand its Maxigesic IV footprint with the announcement of a licensing agreement in Brazil, the largest pharma market in South America…
Two distinct businesses in one
The Pebble Group | 01/05/2024
The Pebble Group’s AGM update confirms that trading is in line with FY24 expectations, with attractive opportunities for its two distinct businesses…
Strong pipeline and cash target reaffirmed
MotorK | 01/05/2024
MotorK’s FY23 revenue growth was robust across most regions, with slow growth regions gaining momentum. Q124 revenue fell slightly year-on-year due…
Evenamide notches up another win (study 008A)
Newron Pharmaceuticals | 01/05/2024
Newron Pharmaceuticals has shared positive top-line data for its evenamide programme from its potentially pivotal Phase II/III trial (study 008A) in patients…
Exploring a potential game changer
Cobra Resources | 01/05/2024
Cobra Resources is an exploration company focused on developing a rare earths deposit in South Australia, with a potentially low-cost method of production…
Targeting margin recovery in FY24
Esker | 01/05/2024
Esker reported FY23 results in line with our expectations. Revenue grew 12% (14% constant currency) while inflationary effects and sales commissions on…
Cracking on
Tortilla Mexican Grill | 30/04/2024
Notwithstanding its sector ‘sweet spot’ (a healthy, customisable product at a competitive price), Tortilla Mexican Grill (Tortilla) has taken…
Moving from niche to mainstream markets
Vection Technologies | 30/04/2024
Vection’s Q324 update showed strong double-digit growth in revenue and cash receipts, driven by multiple contract wins, including its largest contract…
Celebrating its 135th anniversary
The Merchants Trust | 30/04/2024
The Merchants Trust’s (MRCH’s) manager, Simon Gergel at Allianz Global investors, is very excited about the number of reasonably priced opportunities…
Exceeding expectations
AVAX | 30/04/2024
AVAX’s FY23 results highlight the group’s progress domestically as the market improved, more than offsetting the weaker international performance…
Backpacking them in
Hostelworld Group | 29/04/2024
Hostelworld’s pioneering and fast-evolving ‘social’ strategy is delivering aplenty. Material outperformance of the hostel market (FY23…
Second earnings uplift this year after results exceed
Epwin Group | 29/04/2024
Epwin’s FY23 results were robust and management navigated inflationary pressures well. Despite some market headwinds, we have increased our FY24…
Introducing a well-defined buyback policy
Princess Private Equity Holding | 29/04/2024
Princess Private Equity Holding’s (PEY’s) 12-month NAV total return (TR) to end-February 2024 was a modest 0.6% amid low exit activity across…
New strategy targets ROE of 13–14%
ProCredit Holding | 29/04/2024
ProCredit Holding (PCB) has decided to build on its recent solid performance (FY23 return on equity, ROE, of 12.2%) and announced an updated strategy to…
Strong Q1 and plans for potential London listing
Mytilineos | 29/04/2024
On April 25, Mytilineos (MYTIL) announced, as part of its strategic review, that it is considering a potential international listing on the London Stock…
Expanded R&D pipeline to fuel LT growth
AFT Pharmaceuticals | 29/04/2024
While AFT continues to gain commercial traction from Maxigesic/ Combogesic IV sales in the US (launched by partner Hikma in Q1 CY24) and anticipates the…
A transformational deal
AGBA Group Holding | 26/04/2024
On 18 April, AGBA announced a surprise deal to acquire 100% of Triller Corp, a global AI-driven social video platform, in an all-stock transaction. Triller…
In a period of transition
Biodexa Pharmaceuticals | 26/04/2024
FY23 was a transitional year for Biodexa, following the restructuring announced in March 2023 into a therapeutic company from a drug delivery specialist,…
Sale of Johnson Tiles UK agreed
Norcros | 25/04/2024
Norcros’s disposal of Johnson Tiles is the latest strategic activity taken by management to better allocate capital to fit with priorities. Last…
Repositioning to raise total returns
Henderson Far East Income | 25/04/2024
Henderson Far East Income (HFEL) has consistently delivered on its objective to provide a rising dividend. However, like many investors, HFEL’s managers…
AI to drive return to growth
Freelancer | 25/04/2024
Freelancer’s Q124 results were mixed. Operationally, the company is seeing rising demand for AI specialists as customers seek affordable ways to…
Solid trading and better cash generation
Renewi | 25/04/2024
Renewi’s FY24 trading update was in line with management’s expectations and its improved cash generation is reassuring for investors. Attention…
Executive interview
Checkit – executive interview (24 April 2024) | 25/04/2024
Checkit optimises the performance of people, processes and physical assets with its intelligent operations software and smart sensors. It provides digital…
Agreement with SpaceX drives upgrades
Filtronic | 25/04/2024
Filtronic has signed a strategic partnership and commercial agreement with SpaceX which includes a production order worth £15.8m and warrants that…
Signposting the path to profitability
Checkit | 25/04/2024
In a tough trading environment, Checkit managed to grow FY24 revenue by 17% and reduce EBITDA losses by nearly half. The company has had a positive start…
Growth cap lifted in the UK
EML Payments | 25/04/2024
EML Payments announced that on 23 April the Financial Conduct Authority (FCA) in the UK lifted the new customer restriction for Prepaid Financial Services…
NHS data validates Speedboat’s economic merit
Creo Medical | 25/04/2024
Creo Medical has presented real-world evidence of the economic utility of its minimally invasive electrosurgical devices, based on NHS data from 130 submucosal…
Consistently and responsibly delivering
International Public Partnerships | 24/04/2024
International Public Partnerships’ (INPP’s) FY23 results show that it continues to deliver consistent and predictable returns for investors,…
Focus back on the operations
Portobello SpA | 24/04/2024
Portobello’s FY23 results demonstrate the primary effects of the out-of-court settlement with respect to VAT and direct taxes (a higher year-end…
Executive interview
International Public Partnerships - executive interview 24/04/24 | 24/04/2024
International Public Partnerships (INPP) is a responsible investor in social and public infrastructure assets aimed at providing investors with a consistent…
Focus on business development in FY24
Intralot | 24/04/2024
Intralot enjoyed good underlying trends in performance in FY23 with encouraging trends in its main countries of focus and further progress on profitability.…
Vantage: Seraphim Space’s Mark Boggett on a booming space economy and a maturing portfolio
Vantage: Seraphim Space’s Mark Boggett on a booming space economy and a maturing portfolio 24/ | 24/04/2024
The space economy is experiencing a remarkable boom, fuelled by the rising demand for cutting-edge space technologies across various sectors, particularly…
Strategy for growth in tougher market
Headlam Group | 23/04/2024
Headlam Group has laid out an ambitious long-term revenue target of between £900m and £1bn, as it seeks to grow its share of the UK floor coverings…
Termination of coverage
Termination of coverage - Lithium Power International | 23/04/2024
Edison Investment Research is terminating coverage on ABC Arbitrage (ABCA), paragon (PGN), Foresight Solar Fund (FSFL), Kendrion (KENDR), Lithium Power…
Termination of coverage
Termination of coverage - Triple Point Energy Transition | 23/04/2024
Edison Investment Research is terminating coverage on ABC Arbitrage (ABCA), paragon (PGN), Foresight Solar Fund (FSFL), Kendrion (KENDR), Lithium Power…
Termination of coverage
Termination of coverage - paragon | 23/04/2024
Edison Investment Research is terminating coverage on ABC Arbitrage (ABCA), paragon (PGN), Foresight Solar Fund (FSFL), Kendrion (KENDR), Lithium Power…
Termination of coverage
Termination of coverage - ABC Arbitrage | 23/04/2024
Edison Investment Research is terminating coverage on ABC Arbitrage (ABCA), paragon (PGN), Foresight Solar Fund (FSFL), Kendrion (KENDR), Lithium Power…
Termination of coverage
Termination of coverage - Foresight Solar Fund | 23/04/2024
Edison Investment Research is terminating coverage on ABC Arbitrage (ABCA), paragon (PGN), Foresight Solar Fund (FSFL), Kendrion (KENDR), Lithium Power…
Termination of coverage
Termination of coverage - Shield Therapeutics | 23/04/2024
Edison Investment Research is terminating coverage on ABC Arbitrage (ABCA), paragon (PGN), Foresight Solar Fund (FSFL), Kendrion (KENDR), Lithium Power…
Termination of coverage
Termination of coverage - Pharnext | 23/04/2024
Edison Investment Research is terminating coverage on ABC Arbitrage (ABCA), paragon (PGN), Foresight Solar Fund (FSFL), Kendrion (KENDR), Lithium Power…
Termination of coverage
Termination of coverage - 4iG | 23/04/2024
Edison Investment Research is terminating coverage on ABC Arbitrage (ABCA), paragon (PGN), Foresight Solar Fund (FSFL), Kendrion (KENDR), Lithium Power…
Termination of coverage
Termination of coverage - e-therapeutics | 23/04/2024
Edison Investment Research is terminating coverage on ABC Arbitrage (ABCA), paragon (PGN), Foresight Solar Fund (FSFL), Kendrion (KENDR), Lithium Power…
Termination of coverage
Termination of coverage - Kendrion | 23/04/2024
Edison Investment Research is terminating coverage on ABC Arbitrage (ABCA), paragon (PGN), Foresight Solar Fund (FSFL), Kendrion (KENDR), Lithium Power…
Hydrogen options maturing
HydrogenOne Capital Growth | 22/04/2024
HydrogenOne (HGEN) holds a distinctive and concentrated portfolio of assets across the entire hydrogen value chain (95% private, 2% public). In its FY23…
PBT ahead, encouraging volume trends
S&U | 22/04/2024
S&U reported FY24 PBT of £33.6m, down from £41.4m in FY23 on higher funding and regulatory costs and higher impairments in Advantage in H2. PBT…
Strategic partnerships powering growth
Ceres Power Holdings | 22/04/2024
Ceres Power Holdings’ innovative technology uses electrolysis to produce green hydrogen and solid oxide fuel cells to generate power. In a year where…
Commencement of strategic review
Zalaris | 22/04/2024
Zalaris announced a strategic review process on 2 April, as the company explores potential opportunities to accelerate growth and maximise value for both…
Helping itself
Borussia Dortmund | 22/04/2024
Borussia Dortmund’s progress to the semi-final of the Champions League brings a further upgrade to profit guidance for FY24. In addition to helping…
Need for innovation against severe infections
Basilea Pharmaceutica | 22/04/2024
At its recent capital markets day (CMD) and with the support of key opinion leaders, Basilea highlighted the rising need for innovative therapies to address…
FY24 EPS in line; good margin progress
discoverIE Group | 19/04/2024
discoverIE anticipates reporting FY24 underlying EPS in line with board expectations. After a period in mid-FY24 of working down inventory, customers appear…
Steadfast commitment to UV1 progression
Ultimovacs | 18/04/2024
Despite the recent setback with the INITIUM trial (first-line treatment of patients with unresectable or metastatic malignant melanoma), Ultimovacs has…
AbbVie deal clears antitrust hurdle
OSE Immunotherapeutics | 18/04/2024
OSE has announced that its licence agreement with AbbVie has cleared antitrust review and has become effective. As previously noted, this is expected to…
FY24 underpinned by market share gains
Foxtons Group | 18/04/2024
Foxtons Group’s Q1 revenue grew by 9%, supported by growth in all three divisions as the strategic initiatives continue to gain significant momentum,…
Decarbonisation fuelling growth
Jersey Electricity | 18/04/2024
Jersey Electricity (JEL) is intensifying its focus on energy security and electrification across Jersey by creating opportunities to accelerate growth.…
Executing on a high-growth strategy
Manx Financial Group | 18/04/2024
Manx Financial Group (Manx) posted record PBT of £7m, a 35% increase year-on-year. Manx benefited from strong volumes, a full year contribution from…
An enhanced value creation strategy
Carr’s Group | 18/04/2024
Carr’s Group has announced an updated strategy that offers the potential for value realisation and creation from a number of avenues. These include:…
When one plus one equals three
Arcadium Lithium | 17/04/2024
Alongside Albemarle and SQM, Arcadium Lithium is the third largest producer of downstream lithium chemicals outside China, capturing the full value chain…
Global growth generates record net profit
ABO Energy | 17/04/2024
ABO Energy reported strong financial results for FY23, as revenue grew by 29% y-o-y to €300m and net profit increased by 11% to €27.3m. Revenue…
Baked in AI opportunities
Next 15 Group | 17/04/2024
Next 15 Group's net revenues grew 2.5% in the year to January, despite difficult markets. Adjusted operating margin rose from 20.2% to 21.0%, helped by…
Multiple positives should excite investors
Severfield | 17/04/2024
Severfield’s trading update indicates that FY23 results are expected to slightly exceed market expectations and the company ends the year with a…
Several potential portfolio catalysts on the horizon
IP Group | 16/04/2024
IP Group’s NAV declined by 13% in total return (TR) terms in FY23, affected by continued soft valuations across venture capital (VC) markets, as…
First patient dosed in Phase IIb XanaMIA study
Actinogen Medical | 16/04/2024
Actinogen Medical announced that the first randomised patient in its Phase IIb XanaMIA trial of lead candidate Xanamem received their first treatment on…
CS014 (thrombosis) progresses towards the clinic
Cereno Scientific | 16/04/2024
Cereno Scientific has taken a step closer to advancing its second asset, CS014, a novel HDAC inhibitor with epigenetic effects, to the clinic with the…
FY23 growth driven by idiosyncratic factors
Tetragon Financial Group | 16/04/2024
Tetragon Financial Group (Tetragon) posted a 6.4% net asset value (NAV) per share total return (TR) in US dollar terms in FY23. Tetragon’s returns…
Transformative FY23 with revenue rocketing
Cloudberry Clean Energy | 16/04/2024
Cloudberry Clean Energy recorded a strong performance for FY23. Revenue nearly tripled compared to FY22 (NOK217m), reaching NOK610m. EBITDA also significantly…
FY23 focused on margin management
Arctic Paper | 16/04/2024
Arctic Paper’s FY23 results highlight the resilience of its business model in a year of cyclical weakness. Management successfully focused on margins,…
Growing the base
Domino’s Pizza | 16/04/2024
Domino’s Pizza Group’s (DOM’s) new CEO has set an ambitious long-term growth target, including an acceleration in its net store opening…
New product launch and contract wins
Checkit | 15/04/2024
Checkit has won contracts with two customers worth at least £417k over the three-year lives of the contracts, confirming its ability to upsell to…
All looking good in terms of income and growth
abrdn Asian Income Fund | 15/04/2024
abrdn Asian Income Fund (AAIF) recently posted an upbeat set of results. In FY23, the company outperformed its reference index (MSCI AC Asia Pacific ex…
Delivering income and capital growth
Murray Income Trust | 15/04/2024
Murray Income Trust (MUT) invests in high-quality, mainly UK-listed stocks. It has achieved both its dividend and capital growth objectives over the long…
Introducing redeemable shares
VietNam Holding | 12/04/2024
VietNam Holding (VNH) posted a solid net asset value (NAV) per share total return (TR) in 2023 of 15.8% (22.4% in US dollar terms), outperforming the Vietnam…
Funding accelerates Tedopi clinical development
OSE Immunotherapeutics | 12/04/2024
Despite the challenging macroeconomic environment, OSE announced an encouraging funding win with the receipt of €8.4m in non-dilutive public funding…
Cutting the final link to PFS vendors
EML Payments | 12/04/2024
EML Payments has entered into an agreement to settle all the outstanding deferred consideration payments relating to the acquisition of Prepaid Financial…
Is the tide turning?
Lowland Investment Company | 12/04/2024
Lowland Investment Company’s (LWI’s) unconstrained, multi-cap investment policy differentiates it from most peers in the AIC UK Equity Income…
FY24 trading in line with expectations
Norcros | 12/04/2024
FY24 trading underpins Norcros’s compelling investment case, where its new product development initiatives, market positioning and self-help initiatives…
Harvesting the power of seaweed
Ocean Harvest Technology | 11/04/2024
Ocean Harvest Technology (OHT), based in the UK, produces animal feed additives products using a composite of blended seaweed. Its patented products have…
Moving into alignment
M&C Saatchi | 11/04/2024
There has been a lot going on under M&C Saatchi’s operational bonnet, so delivering FY23 results a shade above market forecasts is a good result,…
Several key holdings funded to break-even
Seraphim Space Investment Trust | 10/04/2024
Seraphim Space Investment Trust (SSIT) reported a modest 1.8% NAV total return (TR) in H124, as the positive impact from up rounds (most notably D-Orbit’s)…
Quality of UEM’s assets is underappreciated
Utilico Emerging Markets Trust | 10/04/2024
Utilico Emerging Markets Trust’s (UEM’s) manager Charles Jillings, at specialist investor ICM, is very excited about the prospects for the…
CARB-X grant for preclinical programs
Basilea Pharmaceutica | 10/04/2024
In the lead up to its capital markets day, Basilea Pharmaceutica announced it has received initial funding of up to US$0.9m through a grant from Combating…
Serving the energy transition
ADS-TEC Energy | 09/04/2024
ADS-TEC Energy operates in an emerging market serving the changing grid and power management requirements of an electrifying world. Its key market at present…
Performing as expected ahead of refinancing
Regional REIT | 09/04/2024
In a challenging market, Regional REIT’s (RGL’s) FY23 operational and financial performance was robust, in line with expectations and previous…
Deep dive on developers
Premier Miton Global Renewables Trust | 09/04/2024
The energy developers segment of Premier Miton Global Renewables Trust’s (PMGR’s) holdings accounts for 30.2% of its portfolio (at 29 February…
Accretive portfolio repositioning
Picton Property Income | 09/04/2024
Picton Property Income has agreed the sale of Angel Gate, its second largest office asset, and largest portfolio void, with an agreed consideration above…
FDA green light for SCLC combination trial
Oryzon Genomics | 09/04/2024
With the FDA investigational new drug (IND) application clearance, Oryzon can commence its Phase I/II cooperative research and development agreement (CRADA)…
Accelerating again in FY24
JDC Group | 08/04/2024
JDC Group (JDC) reported FY23 results that were in line with the preliminary results published on 8 March. After a very strong Q423, JDC expects FY24 revenue…
Google strategic collaboration
MGI - Media and Games Invest | 08/04/2024
MGI – Media and Games Invest has announced a strategic collaboration with Google Cloud that will bring all MGI’s marketplaces together by mid-FY25.…
Executive interview
IP Group - executive interview 08/04/2024 | 08/04/2024
IP Group is UK’s most active investor in science-based companies, with a focus on life sciences, deeptech and cleantech. In this interview, Greg…
Beyond PD-LID, a closer look at PD-psychosis
IRLAB Therapeutics | 08/04/2024
While IRLAB Therapeutics’ immediate focus is on advancing mesdopetam in levodopa-induced dyskinesia (PD-LID) following the recent green light from…
Holding a strong hand
AUSTRIACARD | 05/04/2024
AUSTRIACARD has a long heritage of providing secure services for smart card provision and document management in Europe. It has expanded its portfolio…