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Ian Pollard – easy Hotel trading strongly
easy Hotel plc EZH Strong trading experienced in the previous year has continued through the year to the end of September. The groups owned hotels have significantly outperformed both the competition and the wider OK hotel market. Franchised hotel have also traded strongly especially in continental Europe.In 2018 four new owned hotels will be opened adding a total of 517 rooms, whilst new franchised hotels due to be opened will add a further 798 rooms.
Sopheon plc SPE The board now expects revenue for the year to he 31st December will be comfortably ahead of market expectations whilst EBITDA and pre tax profits should be significantly ahead.This follows two substantial deals in the final quarter leading to an increase from 49 to 59 in licences for the year as a whole.
James Halstead plc JHD Turnover for the half year to the 31st December rose by 5% to record levels after strong December trading in the UK, Germany and Australia
Utilitywise UTW Trading in the company’s shares will be temporarily suspended at 7-30 this morning as it will not be able to publish its annual audited accounts by the end of this month. The delay is due to the amount of work involved in its new revenue recognition policy and the suspension will be lifted as soon as it is able to publish its results.
Telit Communications TCM has received expressions of interest from numerous parties with regard to the proposed sale of its automotive division and due diligence is now being undertaken. There is no intention of selling any other divisions or activities.
Defenx DFX confirms that revenues for the year to 31st December will be materially below those of the previous year resulting a significant loss for 2017. The appointment of a new CEO in November has resulted in progress being made in solving the company’s problems but difficulties remain in collecting in trade debts and collections have been limited during the last three months.
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Lloyds – The UK Economy Is Resilient
Lloyds Banking Group LLOY produced a strong financial performance in the nine months to the 30th September with profits improved on both an underlying and on a statutory basis. Underlying profit rose by 8% and total income by 6%. The improvement continued into the third quarter which saw income rising by 8%. Statutory profit before tax over the nine months rose by 38%, the overall performance no doubt being helped by what the bank describes as a resilient UK economy and Brexit not even getting a mention.
Metro Bank MTRO also reports a strong third quarter with record customer growth of 33% compared to the previous year and a 77% rise in underlying quarter on quarter profits. Revenue increased by 113%. The Banks presence is no longer limited to central London as it takes what it calls its revolution in banking out into the high streets of suburban England.
Nighthawk Energy HAWK has seen a steady but significant decline in both gross and net production during the first nine months of the year. Gross production fell from 373,146 barrels in the first nine months of 2016 down to 317,445 barrels this year. On a net basis the fall was from 305,153 barrels last year down to 236,864 in the first nine months of the current year. Work has been suspended on the preparation of a circular about share payment options for deferred interest and royalties which will now revert to being paid in cash whilst the company assesses its restructuring options.
Defenx plc DFX Results for the year to 31st December are now expected to be materially below market forecasts to such an extent that a loss is expected, mainly due to weak management. Reasons for the turn round include previously anticipated orders are unlikely to be recognised in 2017, updates to address “certain performance issues” are taking longer than expected and the broadening of the product portfolio is also behind schedule. Steps are being taken to strengthen the executive management team.
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Corporate news review Wednesday 27th September 2017
boohoo.com BOO reports adjusted interim EBITDA up 68% at £27.8m on revenues up 106%. BOO has a strong balance sheet with net cash of £119.2m and raises FY guidance.
Defenx DFX reports increased H1 operating losses of €1.31m (1H16: €296,000) on revenues up 35% to €3.13m. DFX says there may be an adverse effect on revenues and profits in the short term, but remains confident that it has the right strategy to maximise revenues and profits in the medium and long term.
Entertainment One ETO anticipates FY financial performance will be in line with management expectations with a similar H1/H2 weighting to FY17. EBITDA is anticipated to be around 1.2x at the end of the FY18 financial year, in line with guidance given when the Group reported its FY17 full year results.
Hotel Chocolat Group HOTC reports FY revenues up 12% at £105.2m, with underlying EBITDA up 32% to £16.3m. PBT rose 100% to £11.2m driven by strong sales growth across retail, digital & corporate channels. Given the encouraging performance of retail and internet channels, along with the pipeline of opportunities ahead, the group are confident of further growth.
Halma HLMA says it has made good progress in line with expectations. Cash generation was good and the Group’s financial position remains strong.
PZ Cussons PZC says despite tough trading conditions in Q1 it remains on track to deliver full year growth in operating profits with performance underpinned by a robust and innovative product pipeline and tight control of costs.
Brand CEO Alan Green discusses Defenx (DFX) & Advanced Oncotherapy (AVO) on Vox Markets podcast
Brand CEO Alan Green discusses Defenx (DFX) & Advanced Oncotherapy (AVO) with Justin Waite on the Vox Markets podcast. The interview is 36 minutes 20 seconds in.
Reiterate Buy Defenx (DFX) says VectorVest. Despite surpassing our previous target, shares still offer an enticing growth investment opportunity
FREE! For free VectorVest analysis on any stock, go to this link here
On February 16th 2017, we first wrote about mobile cyber security group Defenx PLC (DFX.L). To remind you, the Company provides security solutions with a range of products for mobile devices and personal computers (PCs), protecting them against hackers and data loss. The Company offers Defenx Mobile Security Suite for iPhone operating system (iOS) and enterprise network attached storage (NAS) antivirus software. It operates through three segments: Mobile, PC and NAS. The Company’s product, Defenx Mobile Security Suite offers protection from data loss, viruses and other malware intrusion, phishing and other attack. The Company’s product, Defenx Security Suite and Defenx Antivirus offers PC protection from data loss and hacker exploits. The NAS Antivirus, sold as Seagate Antivirus, provides antivirus protection with daily updates, e-mail updates and event driven notification. Its product, Defenx Cloud Backup provides backup, synchronization and sharing of data, such as documents, music, video and pictures on Windows, Apple and Linux PCs, as well as Android, iOS and Windows 10 devices.
Following the bullish trading update discussed in our February article, DFX then reported preliminary results for the year on April 11th 2017, and confirmed expectation of a fifth year of profitable growth – 58% year-on-year growth in revenue to €7.09m, with a significant 10% increase in average revenue per user (ARPU). Operating profits grew 88% to €1.84m, driven by strong cash generation (before development costs) of €2.32m in operating cash inflow (2015: €1.02m outflow). Post year end, DFX also announced a long-term strategic partnership with Italian cyber solutions group BV-Tech. CEO Andrea Stecconi called 2016 “a year of significant progress”, adding that DFX “is in a strong position to continue its strategy to launch new products, enter new markets and broaden its management team in 2017”. Along with other cyber security companies, DFX shares have received a general uplift this week on the back of the global cyber-attacks that took place on organisations such as the NHS over the past weekend.
In our February article, we described how VectorVest metrics had flagged up the material undervaluation of DFX when the shares traded below 70p in early November 2016. Cautious investors should note that the RS (Relative Safety) rating is below par at present, but DFX still retains a high VST-Vector (VST) rating, currently at 1.25, which is very good on a scale of 0.00 to 2.00. Added to this the GRT (Earnings Growth Rate), which reflects a company’s one to three year forecasted earnings growth rate in percent per year, logs DFX at 24%, which VectorVest considers to be excellent. We view this as a stock to own for above average, long-term capital appreciation. Following the full year results, VectorVest logs a current value of 196.55p, so although DFX has hit and passed our earlier valuation, it still remains undervalued.
The chart of DFX.L is shown above using candlestick format to graph the price. Above the price the green line study is the VectorVest calculated valuation and in the window below the price the blue line study charts the earnings per share (EPS). The share has broken and kissed an important horizontal resistance level and is trending strongly upwards on rising momentum (not shown). The latter bodes well for a further advance.
We still reiterate our cautious statement from February that an investment in DFX shares does not come without risk. But given that the stock has already hit and passed our initial Feb target, VectorVest believes the full-year results and upbeat outlook, coupled with the increasingly obvious opportunities that exist for cyber security in the world today, continue to position DFX shares as an enticing growth investment opportunity.
David Paul
May 17th 2017
Readers can examine trading opportunities on DFX and a host of other similar stocks for a single payment of £5.95. This gives access to the VectorVest Risk Free 5-week trial, where members enjoy unlimited access to VectorVest UK & U.S., plus VectorVest University for on-demand strategies and training. Link here to view.
FREE! For free VectorVest analysis on any stock, go to this link here
VectorVest Unisearch
On VectorVest a simple search using the Unisearch tool will quickly find shares that are undervalued with good fundamentals that have just issued a Buy recommendation. This will give the active trader a short list of many high probability trading opportunities each week. Traders now have the opportunity to spend five weeks discovering VectorVest’s unique simplicity, automation and independent guidance. Just £5.95 buys a 5 week trial to enable deep exploration, or how the system can assist in smarter trading in as little as 10 minutes a day. Powerful tools. Proven strategies. Unique Perspectives.
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Dr David Paul talks VectorVest Composite index, plus AIM stocks BXP, MGNS, DFX, VCP with Jeremy Naylor on IG TV
Dr David Paul discusses the VectorVest Composite index, market timing plus AIM stock picks: Beximco Pharma (BXP), Morgan Sindall (MGNS), Defenx (DFX) and Victoria (VCP) with Jeremy Naylor on IG TV.
Dr David Paul, MD of VectorVest discusses Sopheon (SPE), Triad Group (TRD), Defenx (DFX) & Morgan Sindall (MGNS) on TipTV
Dr. David Paul, MD at Vector Vest talks about VectorVest Edge Strategy, which involves screening shares for favourable technical and fundamental factors and buying them when the overall market is rising. Stocks discussed today include Sopheon (SPE), Triad Group (TRD), Defenx (DFX), Morgan Sindall (MGNS).
Brand CEO Alan Green discusses Feedback (FDBK), Advanced Oncotherapy (AVO) & Defenx (DFX) on VOX Markets podcast
Brand CEO Alan Green discusses Feedback (FDBK), Advanced Oncotherapy (AVO) & Defenx (DFX) with Justin Waite on the VOX Markets podcast. The interview is 35 minutes, 29 seconds in.
Buy Defenx (DFX) – VectorVest rates the stock as an enticing growth investment opportunity
Defenx PLC (DFX.L) provides security solutions with a range of products for mobile devices and personal computers (PCs), protecting them against hackers and data loss. The Company offers Defenx Mobile Security Suite for iPhone operating system (iOS) and enterprise network attached storage (NAS) antivirus software. It operates through three segments: Mobile, PC and NAS. The Company’s product, Defenx Mobile Security Suite offers protection from data loss, viruses and other malware intrusion, phishing and other attack. The Company’s product, Defenx Security Suite and Defenx Antivirus offers PC protection from data loss and hacker exploits. The NAS Antivirus, sold as Seagate Antivirus, provides antivirus protection with daily updates, e-mail updates and event driven notification. Its product, Defenx Cloud Backup provides backup, synchronization and sharing of data, such as documents, music, video and pictures on Windows, Apple and Linux PCs, as well as Android, iOS and Windows 10 devices.
On January 24 2017, DFX published a trading update and said it expected FY revenues of €7.3m, representing 57% year-on-year organic growth. The group’s first acquisition of cloud backup and synchronisation business Memopal Srl had been successfully completed, along with a €1.5m placing to support accelerated investment in new software. CEO Andrea Stecconi said second half revenues “had brought the full year into profitability, resulting in an increase in full year operating margins as compared with 2015.” The board are “confident that the Group will show continued growth in revenue and profit over the coming year in the ever-exciting mobile security software market.”
Despite the placing in late 2016, VectorVest metrics flagged up the material undervaluation of DFX when the shares traded below 70p in early November. Shares have since recovered to 111p, but despite this, the VST-Vector (VST) master indicator for ranking every stock in the VectorVest database logs a VST rating of 1.30 for DFX, which is very good on a scale of 0.00 to 2.00. The VST is computed from the square root of a weighted sum of the squares of Relative Value (RV), Relative Safety (RS), and Relative Timing (RT). Cautious investors should note that the RS rating is below par at present, but still retains a high VST ratings and is a stock to own for above average, long-term capital appreciation. Added to this, VectorVest logs a current value of 139.78p for DFX, meaning that the stock is still undervalued.
The chart of DFX.L is shown above. The green line study above the price is the VectorVest valuation while in the window below the price the volume of shares traded is plotted.
After the selloff into the US election low in November the share has made a rising bottom which is bullish. Since the low in November the share has made two high momentum moves upwards. These moves were characterised by a surge in volume as shown above. At present the share is trading sideways on very low volume which indicates that there are few sellers around. Any market rising on high volume and pulling back (or in this case consolidating) on low volume represents a very bullish environment. Technically the share looks highly probable to advance further soon.
In its current growth phase, an investment in DFX shares does not come without risk. On balance however, VectorVest believes the combination of positive metrics, the confidence expressed by the board and the valuation gap combine to create an enticing growth investment opportunity. Buy.
Dr David Paul
February 16th 2017
Readers can examine trading opportunities on DFX and a host of other similar stocks for a single payment of £5.95. This gives access to the VectorVest Risk Free 5-week trial, where members enjoy unlimited access to VectorVest UK & U.S., plus VectorVest University for on-demand strategies and training. Link here to view.
FREE! For free VectorVest analysis on any stock, go to this link here
VectorVest Unisearch
On VectorVest a simple search using the Unisearch tool will quickly find shares that are undervalued with good fundamentals that have just issued a Buy recommendation. This will give the active trader a short list of many high probability trading opportunities each week. Traders now have the opportunity to spend five weeks discovering VectorVest’s unique simplicity, automation and independent guidance. Just £5.95 buys a 5 week trial to enable deep exploration, or how the system can assist in smarter trading in as little as 10 minutes a day. Powerful tools. Proven strategies. Unique Perspectives.
Link here for more info and to set up a trial.