Home » Posts tagged 'adt'
Tag Archives: adt
Quoted Micro 13 February 2023
AQUIS STOCK EXCHANGE
Hemp and cannabinoid products supplier Yooma Wellness (YOOM) is restructuring its business due to the depressed market conditions. Unprofitable activities have been wound down and management is still trying to come up with a new strategy. The 2021 Vertex acquisition is being handed back to the sellers and $1.2m in receivables has been assigned to them. The subsidiary in France is filing for a bankruptcy procedure. Yooma Wellness requires more cash and other operations may need to be sold. If not, then there could be insolvency proceedings.
Love Hemp (LIFE) has appointed administrators. Secured creditors have issued a notice of default requiring repayment of the £1.92m debt facility. Sales have slumped and a dispute with former managing director Philip Small has not helped.
Walls and Futures REIT (WAFR) is holding a general meeting on 23 February so that strategic investor Vengrove can raise cash for the company through a share issue. The number of shares in issue will be ten times as many as currently in issue. This will help Walls and Futures REIT scale up. Vengrove SI-REIT Advisors will become manager of the portfolio of assets. Pax Homes will be sold to Joseph McTaggart, so the group will no longer be a developer. Investments will be made in affordable rental housing, education property, service stations and car parks and community buildings. A portfolio of assets has been identified. The company’s name will be changed to Social Infrastructure REIT.
Music artist management and services provider All Things Considered (ATC) is estimated to have generated revenues of £11m in 2022 and the loss should be slashed from £2.7m to £300,000. Increased touring by music artists helped the business to recover. The company could breakeven in 2023.
Emissions reducing fuel ingredients supplier SulNOx Group (SNOX) finance director Steven Cowin has given notice and will leave the board at the end of March 2023. Four directors have option agreements with 6% shareholder RemNOx Ltd, which would enable it to acquire a total of 24.08 million shares at 30p each between 6 February and 28 February. That would mean that RemNOx would own 29.9% of SulNOx.
EPE Special Opportunities Ltd (EO.P) had cash of £24.5m at the end of January 2023. NAV was 334p a share, down from 456p a share. The share price recovered 5.71% to 185p. The Luceco (LUCE) share price decline was part of the reason. The company bought back 5.4% of its share capital at an average price of 139p/share. A £2m investment was made in premium dog snacks maker Denzel’s Ltd.
There are further delays in the provision of the £200,000 bridge loan to TruSpine Technologies (LON: TSP).
Newbury Racecourse (NYR) is raising its prize money by 16% to £6.06m in the 2023 season. Chairman Dominic Burke bought 6,250 shares at 815p each, taking his stake to 6.42%.
Res Privata NV took a 3.83% stake in NFT Investments (NFT).
Oberon Investments (OBE) appointed Paul Sheehan to its investment management team.
Greencare Capital has changed its name to MaxRets Ventures (MAX).
Marula Mining (MARU) appointed PWC Kenya as advisor to its East Africa activities.
AIM
Managed IT and networking services provider AdEPT Technology (ADT) is being acquired by a private equity backed Wavenet, which also provides telecom services. The 201p a share bid is a 75% premium to the previous market price it is still well below past levels. However, shareholders will not get the 2.5p a share interim dividend. The bid values AdEPT Technology at £50.3m.
Hardide (HDD) revenues grew 39% to £5m with the prospect of another sharp increase this year. The advanced coatings company continues to broaden its sector and customer base in areas such as renewable energy. Hardide is expected to continue to be loss making but the cash outflow will reduce. There is enough cash following the sale and leaseback of the US facility for the immediate requirements of Hardide.
Communications sub-systems manufacturer Filtronic (FTC) has been hit by component shortages that held back progress in the first half and this will continue in the second half. The order book is worth £17m, which is more than the 2022-23 forecast revenues of £16.5m. A small pre-tax profit is expected for the full year and there should be a sharp recovery in profit as supply problems ease next year.
Alumasc (ALU) interim revenues were 5% ahead at £45 million, pre-tax profit fell 11% to £5.6 million. The corresponding period included high margin Chap Lap Kok airport project work for the water management division and the phasing of projects hit the latest figures. The figures exclude the loss making Levolux business, which has been sold. Management indicated its confidence in the future with the 1.5% increase in the interim dividend to 3.4p a share. The second half will be stronger than the first half, but pre-tax profit is expected to decline from £12.7m to £11.3m.
Songtradr Inc launched an agreed bid for music streaming technology developer 7digital Group (7DIG) and the 0.695p a share offer values the company at £19.4m. The share has not been at this level since September 2021. Songtradr is a music licensing company with a platform and technology that connects music rights holders to brands and content creators.
Clinical communications technology developer Feedback (FDBK) revenues are still modest, but they increased by 222% to £576,000. The £450,000 contract with a Sussex community diagnostic centre made a contribution to these revenues and is up for renewal. The new contract should be worth much more when it is renewed. This pilot project will help to show other potential clients that the technology works. Other NHS trusts are showing interest in the company’s services. There was cash of £9.23m at the end of November 2022, so Feedback can finance further development and cover losses.
WH Ireland cut its forecast for SaaS-based retail software provider itim Group (ITIM) because contract delays mean that revenues will be slower coming through. Annualised recurring revenues are £13m, which is lower than expected. Revenues recognised for 2022 will be slightly below previous forecasts and that increases the loss by £200,000 to £1.1m. The 2023 loss is expected to be the same. Net cash is £3.9m. The share price slumped by 24.8% to 37.5p. The June 2021 placing was at 154p.
The share price of credit provider Morses Club (MCL) fell a further 52.6% to a new low of 0.21p ahead of the cancellation of the AIM quotation. Asset Match will provide a matched bargains facility for the shares.
esports company Gfinity (GFIN) requires more cash by the end of March so management wants to raise £1.5m via a share issue. That will finance a corporate restructuring, invest in the Athlos technology platform and help the company to move towards breakeven. Gfinity has a market capitalisation of £3.1m, so the proposed share issue will be highly dilutive.
MAIN MARKET
Used car finance and property bridging loans provider S&U (SUS) continues to do well despite weak consumer confidence. Group net receivables have risen from £370m to around £420m in the six months to January 2023. Full year figures will be published on 28 March. Full year pre-tax profit is forecast to decline from £47m – due to low bad debt provisions – to £41.2m. Net debt was £192m at the end of January 2023, compared with committed facilities of £210m. The second interim dividend is 38p a share. The full year dividend total is expected to be 132p a share.
Hamak Gold Ltd (HAMA) has commissioned a geophysical survey for the Ziatoyah gold prospect in Liberia. This will map the mineralised sulphide bearing metadolerite units where high grades of gold have been intersected.
Andrew Hore
Quoted Micro 22 November 2021
AQUIS STOCK EXCHANGE
Globe Capital (GCAP) has reported its 2020 and latest interim results and undergone board changes. Simon Grant-Rennick becomes executive chairman and Burns Singh Tennent-Bhohi an executive director. They are advancing £100,000 via a convertible, which will convert at 0.04p a share following the upcoming AGM. More cash will be raised, and a new corporate strategy announced. There was £23,000 in the bank at the end of June 2021. There were net liabilities. Peterhouse has been appointed as corporate adviser.
Voyager Life (VOY) interim revenues were £59,000 and it remains loss making. There was £1.74m in cash at the middle of November 2021 and monthly overheads are below £50,000. The CBD products supplier is getting its products stocked in retailers and has opened its third store.
Helium Ventures (HEV) has made its maiden investment in Blue Star Helium, which has the Voyager prospect at Las Animas County Colorado. There are indications that it could have one of the highest helium concentrations in the US. A maiden well could be drilled in December.
Sativa Wellness Inc (SWEL) is offering a range of blood tests through 40 Superdrug sites.
Tectonic Gold (TTAU) has completed the Specimen Hill drilling campaign. Initial results for Goldsmith’s Reef, which was mined 100 years ago, has had some positive drilling results and there are more results to come. This will help to secure a partner.
Wishbone Gold (WSBN) is preparing to drill at Red Setter in Western Australia. Four high priority zones have been identified. Wishbone raised £126,000 at 14p a share.
EPE Special Opportunities Ltd (ESO) plans to issue up to 25 million zero dividend preference shares at 100p each.
Pioneer Media Holdings Inc (PNER) has raised C$1.1m at C$1 per unit (one share and one warrant exercisable at C$1.50). Investee company Leaf Mobile Inc is raising cash ahead of a proposed standard listing.
IamFire (FIRE) has an option to subscribe up to $4.5m into convertible loan notes of former Aquis company Boanerges. They convert into shares at 75p each.
Coinsilium Group Ltd (COIN) sold 4.58 million treasury shares at 10p each to raise £458,000.
Omni Egis (OMNI) is leaving Aquis on 24 November.
Scott Livingston has taken a 5.16% stake in Silverwood Brands (SLWD).
AIM
Acoustic and thermal insulation material manufacturer Autins Group (AUTG) has raised £3m at 20p a share, which was a significant discount to the market price. The cash will be used to develop the Neptune acoustic material manufacturing facilities and in product development for electric vehicles.
Steel structures supplier Billington (BILN) has been hit by short-term delays to contracts, which has knocked £3.5m off forecast 2021 revenues. That has led to a halving of the 2021 forecast pre-tax profit to £1.1m. The order book is still strong.
Microbiome-based products developer Optibiotix Health (OPTI) has sold 3.64 million shares in SkinBioTerapeutics (SBTX) at 55p each and raised £2m. Optibiotix still owns 20.7% of the company and that stake is valued at £18m.
Managed IT and networking services provider AdEPT Technology (ADT) increased interim revenues by one-fifth to £34.3m. Underlying pre-tax profit was 16% higher at £3.5m and earnings per share were 30% ahead at 13.2p due to a lower tax charge. Net debt was £31.2m at the end of September 2021, which was after spending £9m on acquiring Datrix.
Ilika (IKA) says that its Stereax and Goliath battery technologies remain on track. Commercial revenues from the smaller Stereax batteries should commence in 2022. Once lithium-ion equivalence is achieved Ilika will seek a partner for Goliath.
Health services provider Totally (TLY) had a strong interim period as insourcing and planned care revenues improved. Organic revenue growth was 14%, while the underlying pre-tax profit was £2.1m. There was £18.3m in cash at the end of September 2021, which provides plenty of fire power for making acquisitions in the out of hospital care sector. The urgent care business has been winning contracts and extensions to existing ones. Full year pre-tax profit could improve from £2.5m to £4.1m with more growth to come from the existing operations as demand returns to more normal levels.
Arden has updated its forecast for Dekel Agri-Vision (DKL) due to shipping delays holding up the start of production at the cashew plant. Palm oil production and revenues continue to grow. This means that the company will not make a pre-tax profit in 2021, but it should still make a substantial 2022 profit.
Trakm8 (TRAK) has not done well in recent years but the latest statement from the telemetry equipment and services provider has sparked an upgrade. The company should breakeven this year and make a significant profit in 2022-23.
MAIN MARKET
Technology-focused shell Red Capital (REDC) raised £4m at 10p a share and after expenses it has total cash of £725,000. The shares certainly jumped when trading commenced and closed at 25.5p. This is the latest vehicle floated by Marwyn Capital founder David Williams.
PYX Resources Ltd (PYX) was already quoted on the NSX in Australia before joining the standard list. PYX is in a strong position as the second largest resources of zircon in the world with zircon prices increasing and demand remaining strong. It has two mineral sands projects in Central Kalimantan in Indonesia with one already in production. No new money was raised. Trading started at 94p a share and ended the week at 92.8p a share. There was solid trading in the shares all week.
Technology Minerals (TM1) was set up as investment company after Stranger Holdings (STPH) decided not to proceed with the acquisition of Technology Minerals and related assets. It has acquired these assets and is building a business that covers the battery cycle from exploration and mining to recycling. The main focus is on the Emperium project in Idaho, where £100,000 will be spent over up to 18 months. The company raised £1.5m at 2.25p a share and issued 786.2 million shares to acquire the assets. The share price opened at 2.6p and ended the first day at 3.25p. It ended the week at 3.5875p.
A general meeting has been requisitioned at East Imperial (EISB) by Andrew Regan of Corvus Capital. He wants to remove two directors and replace them with his picks. The board criticises the experience of his choices.
Andrew Hore
Andrew Hore – Quoted Micro 12 July 2021
AQUIS STOCK EXCHANGE
Helium Ventures (LON: HEV) is a shell seeking to acquire a business in the upstream natural gas sector, with a focus on helium. It raised £765,000, after expenses, at 10p a share. This followed placings at 1p a share and 5p a share. The underlying value of Helium Ventures cash is 4.9p a share. The share price jumped to 16p (14p/18p) on the first day of trading. That values the company at £2.69m.
Virgata Services did not receive the requisite acceptances for its bid for Walls & Futures REIT (WAFR) and the 10.2% of the share capital that accepted the offer are no longer bound by the acceptances.
KR1 (KR1) has made three new investments. There was a $100,000 investment in the iTrust seed round and it will receive iTrust tokens. A further $50,000 was invested in 625,000 Clover tokens. The largest of the investments was the $400,000 spent on nearly 20.7 million DIVER (Divergence) tokens.
Altona Rare Earths (ANR) has decided not to exercise its option to acquire 51% of the owner of the Nankoma mining project in Uganda because of its inability to carry out due diligence.
Newbury Racecourse (NYR) has signed a media rights agreement with Arena Leisure covering all fixtures until the end of 2028. This replaces existing rights agreements expiring in 2023.
EPE Special Opportunities Ltd (ESO) had an NAV of 582.13p a share at the end of June 2021.
AIM
Ilika (IKA) has raised £18m through a placing at 140p a share and a further £3m from a retail offer via PrimaryBid. An open offer could raise up to £3.7m. The share price was 200p before the fundraising. The cash will finance the development of Goliath battery pouch cells until they exceed the performance of lithium ion batteries and increase the capacity of the pre-pilot line.
Managed IT and networking services provider AdEPT Technology (ADT) will benefit from its earnings enhancing acquisition of Datrix in 2021-22. In the year to March 2021, revenues fell by 6% to £57.9m, while pre-tax profit fell from £7.7m to £6.2m. There was 9% growth in fourth quarter revenues. Management has taken advantage of the past year to restructure the business. . A three-year, £70m bank facility was agreed during March, so there is plenty of funding for other acquisitions.
CMO Group (CMO) is the largest online retailer of building materials in a market where pure online businesses still have a relatively small share. CMO raised £27.3m at 132p a share and existing shareholders raised £17.7m. Pro forma revenues, including Total Tiles which was acquired at the end of 2020, were £67m and pre-tax profit was £1.05m. The share price ended the week at 155.5p.
California-based LungLife AI (LLAI) is developing the LungLB lung cancer diagnostic test. The plan is to have a commercial test available in the US by 2023. It raised £17m at 176p a share and ended the week at 202.5p. LungLB is a blood-based test intended to identify cancerous and benign lung nodules that have been seen through a CT scan. Two-fifths of biopsies following the identification of nodules are not required and the test can stop them happening.
Saietta (SED) has raised nearly £32m, after expenses, at 120p a share to complete the development of its aerial flux motor technology and build a production facility for the motors. Liquid cooled aerial flux motor technology (AFT) has been developed for use with motorcycles and small vehicles. AFT motors are modular in design and highly efficient – reducing the need for additional batteries. There can be high or low voltage versions. The AFT 140 is the motor developed by Saietta. The share price was 121.5p at the end of the week.
Mercia Asset Management (MERC) made an underlying operating profit of £3.3m in the year to March 2021 and on top of that there were significant realised and unrealised gains. The NAV is 40p a share.
There were 97% of rents collected by Real Estate Investors (RLE) in the first half. Occupancy is lower at 83.4% because of the expected ends to certain tenancies, but management believes that the occupancy will recover by the end of the year as the space is rented out. NAV is expected to decline from 55.2p a share to 54.7p a share by the end of 2021.
Kinovo (KINO) is the new name for electrical and buildings services provider Bilby. In the year to March 2022, revenues declined from £65.4m to £60.2m and underlying pre-tax profit fell from £3.69m to £2.36m. The balance sheet is certainly stronger thanks to cash generated from operations. Net debt is down to £2.7m and combined with a recovering share price there may be chances to make acquisitions. There is a 0.5p a share dividend.
MAIN MARKET
Oxford Cannabinoid Technologies (OCTP) has signed an agreement with Evotec that should increase the development speed for the OCT461201. It will help to prove the tolerability and safety of the compound.
Tirupati Graphite (TGR) has signed a marketing agreement with Japan-based Hanwa, which will expand markets for flake and speciality graphite products to south east Asia. Hanwa is already a joint venture partner with Bacanora Lithium.
GC Hevron has proposed a reorganisation of Plaza Centres (PLAZ) and the board has decided to allow GC Hevron to conduct due diligence. The proposal will be put to bondholders on 13 July.
finnCap has downgraded its forecast for InnovaDerma (IDP). The forecast 2020-21 revenues have been cut by £700,000 to £10.2m, although better gross margins should mean that the loss will be similar to previously forecast. A small profit is still forecast for 2021-22.
Andrew Hore
Andrew Hore – Quoted Micro 19 April 2021
AQUIS STOCK EXCHANGE
NFT Investments (NFT) is a shell that intends to invest a portfolio of non-fungible tokens (NFTs). An NFT is a digital file with a unique and verified identity held on a digital ledger or blockchain. The tokens can be bought with cryptocurrency and resold. Ownership of NFTs can be tracked and they can be set up so that the original owner gets a cut of any subsequent sale. NFT Investments will apply to be a small registered UK AIFM. NFT Investments raised £35m at 5p a share and it has net assets of 3.7p a share. The shares ended the first day of trading at 4.95p (4.8p/5.1p) after a significant number of trades.
Apollon Formularies (APOL) has completed its reversal into AfriAg Global via an all share offer. The business holds medicinal cannabis licences in Jamaica. Interim regulations allow the export of medicinal cannabis. Medicinal cannabis oils are being sold and medically supervised treatments provided. Management intends to use £1.1m of the funds raised to finance research and development. The rest of the cash raised will go on developing product sales, operating costs and market research.
Good Energy (GOOD) increased revenues by 5% to £130.6m in 2020. Gross margins declined and higher bad debts and increased depreciation meant that underlying pre-tax profit was £400,000, down from £2.1m. Net debt was £34.6m at the end of 2020. Dividend payments will resume this year.
Gunsynd (GUN) had net assets of £4.94m at the end of January 2021. That was before the flotation of spirits company Rogue Baron (SHNJ), which has increased the value of the shareholding. There was £1m in the bank prior to the recent sale of part of the Rogue Baron stake.
KR1 (KR1) has invested $250,000 into Equilibrium in return for 595,238 EQ tokens.
Eastinco Mining (EM.P) is conducting test work on orebody samples. Discussions continue with Noble Group about an offtake agreement for tantalum and tine from the Musasa project. There is $325,000 in the bank.
Clean Invest Africa (CIA) subsidiary CoalTech has signed development agreements to identify opportunities in China and Indonesia. It will own 20% CoalTech Far East and Daniel Lee the rest.
Love Hemp (LIFE) has increased the amount raised in the recent placing from £5m to £7m.
Chris Akers has increased his stake in Quetzal Capital (QTZ) from 12.3% to 14.1%. Sebastian Marr has taken a 3% stake in Rogue Baron (SHNJ).
AIM
AdEPT Technology (LON: ADT) has acquired Datrix for an initial £9m, with potential deferred consideration of up to £7m based on the growth of the business. The business provides cloud-based networking and cyber security services, and the two firms already work together. In the year to March 2021, Datrix is estimated to have generated revenues of £10.7m and pre-tax profit of £600,000. There should be £400,000 of annualised cost savings.
A £10m placing at 10p a share by Helium One Global (HE1) was oversubscribed. There was enough cash in the bank to drill three exploration wells at the 100%-owned Rukwa helium project in Tanzania in the next few months. The additional funds will enable the drilling rig to be retained for additional appraisal and more 3D seismic can be acquired.
Open Orphan (ORPH) is planning to demerge HVO-001, which is a small molecule, immunomodulator drug that could become a treatment for severe flu, and other non-core assets inherited from the merger with hVIVO. Shareholders will receive shares in the new vehicle which could be quoted on AIM.
Franchised lettings agency Belvoir (LSE: BLV) improved 2020 revenues from £19.3m to £21.7m, while pre-tax profit rose from £6.2m to £7.5m. Net debt was £3.7m at the end of 2020, although £4m has since been spent on the Nicholas Humphreys business. The property market remains buoyant.
Steel structures supplier Billington (LSE: BILN) still has a strong balance sheet with net cash of £13.9m. Last year, revenues slumped from £104.9m to £66m, while pre-tax profit dipped from £5.9m to £1.7m. The final dividend is 4.25p a share. There is a significant order book, but costs are increasing.
Gaming machine monitors and consoles supplier Quixant (QXT) returned to profit in the second half of 2020. Full year revenues fell from $92.3m to $63.8m, while pre-tax profit dipped from $10.7m to $1.3m. The Densitron displays business did well due to demand from medical and broadcast customers.
Iodine producer Iofina (IOF) says that quarterly production fell 17% to 108.2MT and the first half production is likely to be around 250MT. This is due to the cold weather and the lower than expected production is offset by higher iodine prices.
GYG (GYG) says that a German shipyard has gone into administration with more than £2m of invoices outstanding. This was announced after Harwood Capital said it is considering a bid for the superyacht painting and maintenance services provider of 92.5p a share.
For the first time since April 2017, Immunodiagnostic Systems Holdings (IDH) has published a trading statement at 7pm on a Friday rather than after 4.30pm.
MAIN MARKET
Mast Energy Developments (MAST) intends to develop a portfolio of reserve power assets. The first projects should be up and running this year. AIM-quoted, Africa-focused power projects developer Kibo Energy (KIBO) set up Mast Energy to buy and develop flexible power plants that will supply the reserve power market in the UK. A placing raised £5.54m at 12.5p a share when Mast joined the standard list on 14 April. Kibo still owns 55.4% of Mast.
NMCN (NMCN) has agreed a new £8.9m facility with Reflex Bridging Ltd. This is secured on property developments. The overdraft has been extended by Lloyds Bank.
BATM Advanced Communications (BVC) has secured a strategic partnership with albis-elcon, which will jointly offer the company’s network function virtualisation technology NFVTime.
Andrew Hore
Andrew Hore – Quoted Micro 24 February 2020
NEX EXCHANGE
The costs of a cyber-attack meant that National Milk Records (NMRP) interim pre-tax profit fell by two-thirds to £375,000. Revenues also declined from £11.7m to £10.7m, although that was mainly due to one-off revenues in the corresponding period. Disease testing services was the only part of the group where revenues improved. Underlying trading is within expectations. Net debt increased from £2.1m to £2.4m. Lower milk prices may reduce milk volumes from their high levels last year.
GP software supplier DXS International (DXSP) has raised just over £1m at 8p a share. The shares equate to more than one-quarter of the enlarged share capital. The cash will provide working capital required to market the company’s new products. The latest framework agreement has included a modest price rise. NHS accreditation of the company’s new software should be complete in April.
Cancer treatments developer Incanthera is planning to join NEX this week. Manchester-based Incanthera is developing Sol, a topical product for the treatment of solar keratosis and prevention of skin cancer, which could be licenced to a partner within 18 months. There is a pipeline of cancer therapeutics which have come through the Institute of Cancer Therapeutics at Bradford University, which owns 12.3% of the company. AIM-quoted Immupharma (IMM) will hold a 11.9% stake and has 7.27 million warrants, where the exercise price is being rebased to the issue price. Cairn is the corporate adviser and Stanford Capital Partners is the broker. The expected admission date is 28 February.
NQ Minerals (NQMI) is paying A$2m for 100% of the Beaconsfield gold mine and processing plant in Tasmania. This was a major gold mine up until 2012 and it could go back into production. The gold price has risen by 50% since production stopped. The initial payment is A$100,000.
NAV fell from 64p a share to 59p a share at Western Selection (WESP) in the six months to December 2019. The lack of a dividend from AIM-quoted Bilby (BILB) meant that dividend income nearly halved, although it was the one core investment that increased in value. There will be no interim dividend. Share disposals mean that net cash was £2.45m at the end of 2019.
Gunsynd (GUN) has decided not to take up its option to acquire a further 22.33% stake in the Kolosori nickel prospect in the Solomon Islands. Previously £45,000 was paid for a 7.76% stake. Gunsynd has received £20,000 of the £260,000 it is due to be paid for its stake in Oyster Oil and Gas.
Primorus Investments (PRIM) says that investee company SOA Energy UK hopes to join AIM by the fourth quarter of 2020. Drilling is due to commence at the Ofek well in Israel during May and it could last 40 days with a further 40 days of testing. The results will be known before the flotation. Primorus owns 14,977 SOA shares.
Belvedere Leisure Resorts (BELV) is still waiting for cash to cover the full subscription promised just after flotation and it does not appear likely that the investor can come up with the cash. Other investors may come up with the funds in the next six weeks.
Investment company First Sentinel (FSEN) has raised £196,000 from an issue of Green Finance preference shares at 100p each. There is a fixed interest rate of 5.05% a year and then a variable rate of up to 10.15% depending on whether certain conditions are met. The preference are convertible into ordinary shares. The focus is investments in the ethical, sustainable and renewable energy sectors.
Sativa Group (SATI) says subsidiary Goodbody Botanicals will have its products stocked in 100 of WH Smith Travel’s UK stores.
Angelfish Investments (ANGP) has appointed Novum Securities as its corporate adviser.
AIM
Rail optimisation software and equipment supplier Tracsis (TRCS) had a strong first half. Interim revenues increased from £18.8m to £26m. There were two acquisitions in January 2019, so they contributed for a full period this time. There is cash of £26m and it should reach £31.6m by the end of July.
Medical technology supplier Inspiration Healthcare (IHC) says it did better than expected in the year to January 2020. Revenues should be 15% ahead at £17.8m, which is equivalent to like-for-like growth of 12%. EBITDA should be one-fifth higher at above £2m.
4D Pharma (DDDD) is raising £22m at 50p a share, which is half the level that 4D floated at in June 2014. This cash will provide the additional funds required to support ongoing studies for IBS and oncology. The clinical study data is important when it comes the next step for the group.
Urban Logistics REIT (SHED) plans to raise up to £106.7m at 137.5p a share and this will be used to acquire logistics properties. The cash will be raised via a placing, offer for subscription and open offer. The share price equates to adjusted NAV and is a discount to the market price. A special dividend of 3.85p a share will be paid.
Stanley Gibbons (SGI) is acquiring trading inventory from 58.1% shareholder Phoenix SG Ltd for £1.07m. This will be paid as the inventory is sold, net of sales commission.
AdEPT Technology (ADT) raised £4.25m at 320p a share, which was more than it was initially seeking. This will reduce debt and provide funding for acquisitions.
Chris Pullen has resigned as chief executive of Staffware (STAF) and a search for a replacement is about to commence. The recruitment and training company continues to talk with its lenders. Net debt is estimated at £60m at the end of 2019.
Toys supplier Hornby (HRN) is raising up to £15m via a placing and one-for-3.006268641288 open offer at 36p a share. The cash will be invested in the company’s brands, digital marketing and corporate systems.
MAIN MARKET
Nanoco (NANO) has filed a patent infringement lawsuit against Samsung relating to Nanoco’s synthesis and resin technology for quantum dots. There was a collaboration with Samsung, but it ended without a licence agreement.
Stevia supplier PureCircle (PURE) has secured a waiver and amendment to its bank facility. This covers all previous defaults and provides an additional $8.6m of funds.
Career development platforms developer Dev Clever (DEV) has delayed the roll-out of its platform and that hit interim revenues. Management hopes to secure a partnership with a worldwide technology manufacturer that will enable an international roll-out. Chris Akers has increased his stake from 6% to 7.15%.
World Trade Systems (WTS) intends to cancel its listing on 27 March in order to save costs.
Andrew Hore
Ian Pollard – Vodafone #VOD gets its ‘Comeuppance’
Vodafone Group plc “challenging competitive conditions” are words which bring a chill to the boardroom of any company and Vodafone is no exception. Quite simply the impact of its problems turned it from a profitable company in 2017 to a loss making one in the first half of 2018. Group revenue declined by 5.5%, impacted by those troublesome foreign exchange headwinds, the adoption of IFRS 15. and the sale of Quatar. With all these impacts the loss for the half year came in at €7.8 billion, including the further impact of a €3.4 billion loss on the disposal of Vodafone India. Impairments of €3.5 billion in Spain, Romania and Vodafone Idea, added to the company’s woes. Some of its customers may say that this is the year when at last Vodaphone got its comeuppance.
Taylor Wimpey TW Claims delivery of a strong performance during the second half of 2018, with very strong sales, a supportive lending environment and of course huge and completely unjustifiable support from the taxpayer. The order book remains strong, with a 12% rise on last year and customer demand is robust. Shareholders naturally get their rewards with the return of £600 million by way of total dividends promised for 2019, a 20% increase on 2018.
IQE plc IQE confirms it was notified yesterday, following an announcement made by a major chip company in the VCSEL supply chain , that the chip company had received notice from one of their largest customers for 3D sensing laser diodes that they would materially reduce shipments for the current quarter. As a result IQE expects revenues for the full year 2018 will be approximately £160.m.compared to £154.6m for 2017, whilst adjusted EBITDA is expected to be approximately £31m as against £37.1m for 2017. The slowdown in shipments will therefor materially impact expected year end revenues and profitability at IQL.
AdEPT Tech Group plc ADT is delighted by the continued progress being made by the Group in its transformation.Total revenue for the six months to the 30th September rose by 9.5%, EBITDA by 10.7% and the interim dividend is to be increased by 15.3% to 4.9p per share.
James Cropper plc CRPR Produced revenue growth in all divisions with total revenue up 6% in the half year to the 29th September. Profit before tax however at £1.4m, fell by 39% compared to 2017 and earnings per share were down by 44% as profitability was impacted by higher pulp prices over the year.
Beachfront Houses & Apartments For Sale in Greece http://www.hiddengreece.net
Andrew Hore – Quoted Micro 27 August 2018
NEX EXCHANGE
Crossword Cybersecurity (CCS) has signed a memorandum of understanding with IP Group, covering the commercialising of cybersecurity intellectual property from universities.
Ananda Developments (ANA) says that investee company iCAN Israel-Cannabis Ltd has signed a memorandum of understanding with Yom Chai. The deal involves the development and validation of a cannabis-based treatment for Crohn’s Disease, Autism and other neurological and gastrointestinal diseases. The agreement will generate revenues for iCAN, as well as obtaining a stake and potential future royalties.
Supported housing developer Walls and Futures REIT (WAFR) ended March 2018 with a NAV of 92p a share. Full year revenues were 127% higher at £103,000 and the company moved into profit. The first supported housing property was completed during the period. The board wants shareholders to approve a new management incentive plan at the company’s AGM.
There was a £88,000 cash outflow for Lombard Capital (LCAP) in the year to March 2018, but the investment company has moved from net assets to net liabilities. There is £2,154 in the bank plus £112,500 in investments. Since the year end, £320,000 has been raised from subscriptions for 7.5% 2020 unsecured loan notes.
Primorus Investments (PRIM) and Gunsynd (GUN) are selling their direct interests in the Horse Hill prospect to UK Oil and Gas (UKOG) for cash and shares. Primorus will receive £375,000 in cash and £1m in UK Oil and Gas shares at 1.75p each for its 5% stake in Horse Hill Developments Ltd (HHDL), while Gunsynd will receive £50,000 in cash and £500,000 in shares for its 2% stake.
AIM
Tracsis (TRCS) says that full year revenues were ahead of expectations at around £40m and profit will be better than expected. There was £22m in the bank at the end of July 2018. The margins of the traffic and data division are improving.
Audio visual equipment distributor Midwich Group (MIDW) is acquiring Nuremberg-based Bauer und Trummer, which has annual revenues of €21m.
A potential partner has ended its interest in the Bahamas-based oil and gas prospects of Bahamas Petroleum (BPC) and that knocked two-thirds off the share price. BPC received $1m in exclusivity payments from the international oil and company and it has started talks with other third parties.
KEFI Minerals (KEFI) has signed heads of agreement with Ethiopian investors which are setting up a vehicle to make a $35m investment to finance the Tulu Kapi gold project. The first investment of $9m should be made in the current quarter.
Caledonia Mining Corp (CMCL) has agreed to acquire a further 15% of the Blanket gold mine in return for the cancellation of a $11.5m loan and 730,000 shares. That takes the Caledonia stake in Blanket to 64%. The dividend will be kept at 27.5 cents/share.
Waste gasification to energy technology provider EQTEC (EQT) has finished a strategic review following the appointment of a new chief executive. The focus will change to the delivery of customer requirements. Additional technological expertise will come from an alliance with CT3 Ingenieria.
AdEPT Telecom (ADT) is a paying an initial £5m for Shift F7 and this should be earnings enhancing. The two companies have worked together for more than a decade. AdEPT chief executive Ian Fishwick has bought 10,196 shares at 373p each.
Thor Mining (THR) has completed the definitive feasibility study for the Molyhil open pit tungsten project. The post-tax NPV is A$101 and project payback would be less than 18 months. Molyhil has opex costs of tungsten of $90/mtu, compared to an average of $157/mtu for other tungsten projects.
Data and analytics services provider D4T4 (D4T4) says that it has received the £19.5m of trade debtors in the balance sheet at the end of March 2018.
Restaurants operator Fulham Shore (FUL) says revenues generated by The Real Greek and Franco Manca have increased. New openings will be financed out of cash flow. Chief executive Nabil Mankarious has acquired 127,000 shares at 12p each, taking his stake to 19.9%.
Versarien (VRS) has signed two collaborations. A deal with AXIA Materials will lead to the development of graphene enhanced composite materials and smart graphene devices. The first two projects will be for smart buildings and electric vehicles. An agreement with AECOM will be focused on developing large-scale polymer structures for civil engineering infrastructure projects.
Broadcast software provider Pebble Beach Systems (PEB) has moved back into profit at the adjusted level in the first half of 2018, but that is after adjusting for £400,000 of amortisation of capitalised development costs. If that amortisation charge is not excluded the company would have been around breakeven. Net cash generated from operating activities was £126,000, but there is an outflow of £254,000 after capitalised investment. Most importantly, net debt is £10.5m. Debt repayments have started with £850,000 due to be repaid in the second half.
Facilities management services provider Mortice Ltd (MORT) reported a 29% decline in pre-tax profit to $3.9m. Net debt was $18.4m at the end of March 2018. The minority interest in Singapore-based Frontline Security has been acquired for $3.5m.
Wey Education (WEY) says it is planning for significant growth next year, having exceeded market expectations of revenues of £4.1m in the year to August 2018. The first sales from the Chinese joint venture should be in September. A general meeting is being held to enable the issue of more shares and to create distributable reserves to allow a dividend to be paid.
Tekmar Group (TGP) intends to acquire Subsea Innovations for up to £4m. Subsea is focused on the oil and gas sector and it is involved in back deck equipment and subsea pipeline repair clamps. The deal includes £3m of fixed assets.
Veltyco (VLTY) has trade receivables of €8.9m, higher than in July, with €5.4m owed by Celestial, €1.5m of which relates to 2017. The current cash balance is €1.3m. Veltyco will launch its own regulated online trading brand. Betsson Services has renewed its contract until May 2021.
MAIN MARKET
Packaging manufacturer and distributor Macfarlane Group (MACF) increased its interim pre-tax profit by 39% to £3.53m. The growth in profit came from the distribution division on the back of higher sales to internet retailers. Net debt was £11.1m at the end of June 2018. The interim dividend is increased by 8% to 0.65p a share.
London and Associated Properties (LAS) is broadening its investment remit to areas other than retail property. Diluted NAV was 54.5p a share at the end of June 2018.
Bisichi Mining (BISI) increased its pre-tax profit from £243,000 to £3.97m on the back of strong demand for coal.
Standard list shell daVictus (DVT) still has £431,000 in the bank. The board continues to look at food and beverage businesses.
Andrew Hore
Andrew Hore – Quoted Micro 16 July 2018
NEX EXCHANGE
Hotel operator Hydro Hotel, Eastbourne (HYDP) reported flat interim revenues of £1.51m in the six months to April 2018, during a period where building repairs were undertaken. Higher overheads and maintenance costs meant that the loss increased from £153,000 to £200,000. There is £635,000 in the bank.
AfriAg Global (AFRI) has raised £300,000 at 0.1p a share in order to finance its new investing strategy of investing in medicinal cannabis businesses.
Panther Metals (PALM) has signed an option agreement to acquire gold exploration properties in Ontario. The total potential consideration is C$133,000 (£77,000) in cash and the issue of 19.15 million shares at 0.3p each, locked-in for six weeks. A non-refundable payment of C$30,000, one-half cash and one-half shares, has been paid. Due diligence needs to be completed within eight weeks.
NQ Minerals (NQMI) has entered into two marketing and off-take agreements, combined with a $10m secured prepayment facility with Traxys Europe. The off-take agreements relate to all lead and zinc concentrates from the Hellyer project in Tasmania in the first five years of production.
Pelican House Mining (PHM) had nearly £49,000 in the bank at the end of June 2018. The former Hellenic Capital acquired a 15% stake in Might Oak Explorations last month.
Melissa Sturgess and Michael Langoulant have been appointed as directors of Imperial Minerals (IMPP) and James Hamilton and Russell Hardwick have resigned.
Wheelsure Holdings (WHLP) has received approval for the Tracksure locking device from the Italian State Railway.
Clean Invest Africa (CIA) plans to buy out the other shareholders in CoalTech LLC. Due diligence has commenced prior to making an offer for the 97.5% of CoalTech not owned by the clean technology investment company. The initial investment was $500,000.
AIM
Frontier IP (FIPP) investee company Pulsiv Solar has won a UK government grant worth £130,00, which will be put towards a £289,000 project to compete the development of its solar micro-inverter by next April. Frontier IP owns 18.9% of the University of Plymouth spin-out.
Kestrel Partners continues to build up its stake in broadcast software provider Pebble Beach Systems (PEB) and it has taken it from 16.6% to 17.4%. Continuing operations moved back into operating profit in 2017, even though revenues fell from £10.9m to £10.3, but the £500,000 was not enough to cover interest charges and rationalisation costs. Net debt was still £10.3m after getting some proceeds from the sale of the Vislink hardware business. The revolving credit facility is £15m.
Medical imaging technology developer Polarean Imaging (POLX) has raised £800,000 at 16p a share, following last month’s investor symposium. This provides additional cash to support phase III clinical trials in the US and invest in further development.
Veltyco (VLTY) has decided not to go ahead with the potential acquisition of sportsbook operator Ruleo Alpenland.
Telit Communications (TCM) has agreed to sell its automotive division to TUS International for $105m and the deal should be completed by the end of 2018. In 2017, this business made a $10.1m contribution to EBITDA before group overheads. This deal will more than wipe out the current net debt of $25m. The focus will be the Internet of Things operations.
Online women’s fashion retailer Sosandar (SOS) continues to build up its sales. The reported interim revenues were £1.35m. Like-for-like interim revenues grew by 268%. The company remains loss-making but the gross margin improved from 37.8% to 49.4%. There was £4.6m in the bank at the end of March 2018 and this will help to finance further increase in the product range as well as continued losses. There is a database of more than 54,000 customers and 11,407 of those were repeat customers in the period.
Duke Royalty Ltd (DUKE) is raising £44m at 44p a share to fund the pipeline of royalty financing opportunities. There are already four new potential royalty partners requiring £27.5m. These include healthcare, foods and media businesses. Within 12 months, Duke expects to increase its dividend yield. Last December Duke raised £20m at 40p a share.
Itaconix (ITX) is raising £3.4m at 2p a share, which was a 70% discount to the suspension price. Trading in the shares will start again on Monday 16 July. The speciality polymers designer will have enough cash for 12 months, assuming shareholders vote in favour of the share issue. Revenues have been building up slowly and last year they nearly doubled to £553,000. The loss was £11.9m.
One year after it joined AIM, superyacht painting and maintenance services provider GYG (GYG) says that first half trading was weaker than expected. There were delays in refits and fewer new build projects were won. First half revenues of around €25.1m are lower than the two previous first half outcomes. It appears that the interim loss will be more than €1m. There are €12.1m of orders expected to be completed in the second half with a further €25m of “high probability prospects”. The 2017 revenues were €62.6m.
Marlowe (MRL) is raising £20m at 475p a share in order to finance further acquisitions in the critical asset management services sector.
Tristel (TSTL) says that its full year pre-tax profit should be at least in line with the £4.4m forecast, up 8%. Higher investment in gaining US approvals for disinfection products has held back profit growth, but it is expected to accelerate in 2018-19 when a pre-tax profit of £5.2m is forecast.
ReNeuron (RENE) has signed a three-month exclusivity agreement with a major pharma company to potentially out-licence the global rights, excluding China, of its hRPC retinal stem cell technology platform. A non-refundable payment of $2.5m will be received with a further $2.5m due if the deal goes ahead. There was £34.7m in the bank at the end of March 2018 and this should last well into 2020 even though there will be significant spending on trials, including the phase III trial of the CTX cell treatment for stroke disability.
Xpediator (XPD) has acquired Import Services Ltd, which operates a logistics and warehousing business at the Port of Southampton, for up to £12m. The business, which made a 2017 profit of £1.7m, fits well with Xpediator’s existing business in the port and has a good management team that can help the enlarged operations to grow. It should be earnings enhancing in the first full year. A placing raised £7m at 70p a share.
Fifteen-month figures from healthcare services provider Totally (TLY) include five months from the Vocare acquisition but that was still enough to generate revenues of £42.5m. A full 12 months of Vocare should increase revenues to £85m but Totally would still be loss-making. There is further restructuring and integration required. Cost savings should help Totally move into profit in 2019-20. Net cash was £10.2m at the end of March 2018.
Collagen Solutions (COS) improved its revenues in the second half, compared with the first half, but full year revenues were still 6% lower at £3.83m. There is still £5.02m in the bank. There was growth in EMEA. The eight year clinical study for cartilage repair product ChondroMimetic was successful.
Full year figures from managed communications services provider AdEPT Telecom (ADT) were better than expected. Managed services were more than two-thirds of revenues, which were 35% ahead at £46.4m. Underlying pre-tax profit was one-third higher at £7.7m. Net debt was £17.6m at the end of March 2018.
Strategic Minerals (SML) generated sales of $696,000 from the Cobre magnetite operations in the three months to June 2018, but the suspension of a major contract will hit the current quarter. There was $2.09m in the bank at the end of June 2018 and a payment of $375,000 has subsequently been received.
ECR Minerals (ECR) has raised £650,000 at 0.7p a share and that provides enough cash until the third quarter of 2019. The development programme at the Blue Moon target in Victoria, Australia will be accelerated.
An international mining company has agreed to subscribe $250,000 for shares in Orosur Mining Inc (OMI) and that will help to finance further exploration at the Anza project in Colombia. The subscription is at 5.2p a share, double the market price at the time of the agreement.
Fishing tackle retailer Fishing Republic (FISH) expects interim revenues to decline from £4.1m to £3.4m following the closure of five underperforming stores. Like-for-like store sales were 22% lower and online sales also fell. Inventory levels have fallen.
Clear Leisure (CLP) has started operations at its crypto currencies mining data centre in Serbia.
Battery technology and advanced materials developer Ilika (ILK) has raised £4m at 20p a share and an open offer could raise up to £1m more. The cash will finance the costs of developing battery technology for the automotive market. There was £2.8m in the bank at the end of April 2018.
N4 Pharma (N4P) reported disappointing results from the pharmacokinetic data for the clinical trial for reformulated sildenafil, which is better known as Viagra. The plan is to improve the speed at which the drug takes effect but the formulation has not meet the targets set.
Ariana Resources (AAU) says that the Kiziltepe mine produced 7,171 ounces of gold in the second quarter of 2019 and it is still on course to produce 20,000 ounces of gold for the whole year.
Trading remains tough at replacement windows supplier Safestyle UK (SFE) although order intake has firmed in recent weeks. This follows the loss of staff to a competitor that is being sued by Safestyle. It will take until next year to rebuild the team. Thee will be a loss this year even before £6m of restructuring costs. This will use up the cash in the bank.
Next Fifteen Communications (NFC) is paying an initial £2.2m for Technical Associates Group, which is a technical content and digital marketing business. This deal increases the group’s exposure to the industrial engineering sector.
MAIN MARKET
More director changes at Quarto Group Inc (QRT) with Andy Cumming appointed as senior independent non-executive chairman. Major shareholder Laurence Orbach has stepped down as executive chairman and will become a non-executive director. Chief operating officer Ken Fund has joined the board.
Nicholas Lyth has resigned from the board of Sealand Capital Galaxy Ltd (SCGL) having been a director for 17 months.
China-focused healthcare investor Cathay International Holdings (CTI) says that the first half sales and profit will be lower than expected but it hopes to make up the shortfall in the second half. Healthcare subsidiary Lansen has appointed a new chief executive and there have been operational changes, while regulation changes also continue to hit sales in the first quarter. The company’s hotel operations are trading ahead of expectations. The interim will be published in late August.
Andrew Hore
Andrew Hore – Quoted Micro 9 April 2018
NEX EXCHANGE
Good Energy (GOOD) has renewed its offshore wind power deal with Orsted for a further two years. This secures 12% of the output of a North Sea wind farm and this can power more than 26,000 homes. Generation has been ahead of expectations.
KR1 (KR1) has announced its latest investments. An investment of £184,000 has been made in Nexus Mutual Project (NXM) tokens. The number of tokens will be confirmed after the public token sale. KR1 will receive the tokens at a 17.5% discount to the lowest price offered in the public sale. Nexus Mutual will use blockchain technology to recreate insurance mutual. The company has also invested £150,000 in Argent Labs Ltd, which is creating a decentralised banking protocol on the Ethereum blockchain. KR1 has invested €201,000 in the private pre-sale for the Herdius project.
Gibraltar-based TDH Ltd has taken on Coinsilium Group Ltd (COIN) as its adviser for a token generation event. The TrustedHealth platform will create a decentralised global network of doctors and healthcare specialists offering virtual consultations. They will pay with TDH tokens and the token sale started on 27 March and lasts until 27 April. Faruk Saylam has sold 1.5 million shares, which leaves him with a 4.4% stake.
NQ Minerals (NQMI) has been granted a mining lease for the Sunbeam silver mine in northern Queensland. This will enable the processing of 48,000 tonnes of mineral stockpiles, which include gold, silver, copper, lead, zinc and antimony.
MetalNRG (MNRG) says the prospective buyer of the company’s stake in US Cobalt has completed due diligence. MetalNRG will receive 21.7 million shares in ASX-listed Tyranna Resources Ltd for its 15.38% stake in US Cobalt.
Angelfish Investments (ANGP) says that One Media Enterprises has been acquired by OTC-quoted OneLife Technologies Corp but the payment it is due will have to wait until the buyer is allowed to raise cash. That should be later in April. Angelfish will have its original investment repaid along with management fees plus an uplift in the amounts due. The timing of the first instalment is still uncertain.
First Sentinel (FSBN) has raised a further £62,000 from a bond issue. The company plans to issue up to £4m of bonds.
Gowin New Energy Group Ltd (GWIN) says that Mr Chen Chih Lung has converted his loan note into 40 million shares at 1p each. This takes his stake in Gowin to 21.6%.
AIM
SimplyBiz Group (SBIZ) joined AIM on 4 April. It was valued at £130m at the placing price of 170p but the share price ended the week at 160.5p. The company provides compliance and business services to financial advisers.
Higher managed services revenues helped AdEPT Telecom (ADT) to make further progress last year. Pre-tax profit is expected to be £7.4m and the dividend will be raised 13% to 8.75p a share. Debt is lower than expected.
Broadcast industry software provider Pebble Beach Systems (PEB) is hopeful that it can secure terms to extend its bank facility until November 2019. Pebble is adding industry experience with the appointment of Graham Pitman as a non-executive director.
Gooch and Housego (GHH) says trading is in line with expectations and the order book is at a record level of £84.7m. Demand for high reliability fibre couplers has been weak but is expected to recover in the second half. The manufacturing sites have been organised into three technical groupings and performance is improving. The interims will be published on 5 June.
Floorcoverings supplier James Halstead (JHD) says it is considering a bid for Airea (AIEA) but it has yet to approach for the Burmatex-branded floorcoverings business. Airea is closing its Ryalux residential carpet business. There is £3.7m in the bank and the pension deficit has been reduced. Eight shareholders own around 48% of Airea.
appScatter (APPS) is adding to its service that enables organisations to publish their apps on multiple stores and platforms by paying £13.5m in cash and shares for data analysis business Priori Data. This should provide a full service for clients. There are plans to raise £15m at 70p a share.
Denial of service online attacks prevention technology developer Corero Network Security (CNS) is still loss-making and it is raising £4m at 5.75p a share, as well as trying to secure a £3m debt facility. One year ago, Corero raised £5.6m at 5p a share.
FairFX (FFX) can issue Mastercard branded cards and is launching a commercial finance offer to business customers.
Mytrah Energy (MYT) has recommended a bid from majority shareholder Raksha Energy Holdings Ltd. Raksha is offering 45p a share in cash to mop up the 42.1% of the wind power producer it does not own. That is higher than the share price has been for 16 months but not much more than 50% of the level it was nearly three years ago. This bid values Mytrah at £78.9m.
Hornby (HRN) says sales improved towards the end of the financial year as European product was delivered. There was net cash of £4m at the end of March 2018 but management says that a larger debt facility is required for seasonal working capital requirements. Barclays will waive a covenant on the existing facility.
1Spatial (1SPA) has won a £1.6m deal with Land and Property Services in Northern Ireland. Most of this will be generated over the next five years. The geospatial data provider is expected to get near to breakeven in the year to January 2019.
Watkin Jones (WJG) says that first half trading is in line with expectations. Student accommodation developments continue to make the largest contribution with a pipeline of 9,800 beds. The build to rent development business has secured planning consents on three sites, covering 700 units. The management business has contracts to manage more than 14,000 beds, even though the sale by a client of student properties covering more than 5,000 beds meant that the new owner took on their management.
MAIN MARKET
Ingredients supplier Treatt (TET) says that interim revenues are 11% higher this year, helped by new business wins. Current full year forecasts predict an increase in revenues from £109.6m to £117.3m so Treatt is well on its way to achieving that. A full year profit of £14.4m is forecast. There will be a small negative foreign exchange charge in the first half but the US tax charge will be lower than previously expected.
Bluebird Merchant Ventures (BMV) has completed the $500,000 farm-in spending on the Gubong mine and following the publication of a feasibility study the expenses will be shared 50/50 with Southern Gold.
Andrew Hore
Ian Pollard – Big Rollers Deserting Rank
Rank Group plc RNK In the 40 weeks to the first of April the digital business has continued to trade strongly but like for like revenue at Mecca and Grosvenor Casinos fell by 2% and 3% respectively. In quarter three the fall at casinos turned into a slump with like for like revenues falling by 9%, the under performance exacerbated by a negative contribution from VIP players. The board is taking corrective measure but expects that the groups UK venues will continue to be impacted for the remainder of the current financial year and will continue into 2018-19
Electrocomponents plc ECM expects results for the year to the end of March will be ahead of their own previous expectations and profit before tax will be slightly head of the top end of market expectations. The second half produced strong year on year growth in free cash flow. Group overall like for like revenue growth for the year shows a rise of 13%, Asia Pacific leading the way with a rise of 18% and The Americas taking second place with a rise of 14%
Homeserve plc HSV adjusted profit before tx for the year to the end of March is expected to be significantly ahead of last years 112m after another strong year. North America produced an excellent performance, driven by continued organic growth and acquisitions
AdEPT Telecom ADT is to recommend an increase from 4p to 4.5p per share in the final dividend for the year to the end of March, making an inrease of 13% for the year a a whole. . Underlying EBITDA will be slightly ahead of market expectations of a 23% year on year rise.
Sophos Group SOPH updates that the year to 31st March was another year of strong growth with reported billings showing n increase of 20-22%, rising to 23% in quarter four.
Find beachfront villas & houses for sale in Greece; http://www.hiddengreece.net