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Flybe Full of Grumbles
Flybe FLYB The airline industry is in for a rough time if Flybe’s grumbles are anything to go by. On the other hand reading todays update for the quarter to the end of March does read a bit like a management clutching at straws. It claims to have suffered from airline overcapacity, coupled with weak demand in an uncertain consumer environment and price competition from railways. to counter these problems it has reduced its year on year seat capacity growth to 10%. Passenger revenue rose by 9.8% compared to 13.5% for quarter 3. The fleet will be reduced by the return of all 6 end of lease aircraft in the second half of the financial year. Summer trading is in line with expectations.
Alliance Pharma APH The integration of 27 products acquired in December 2015 from Sinclair Pharma has been completed without a hitch, effectively doubling the size of APH. Confirmation is provided by the results fore the year to 31st December which saw revenue and EBITDA both grow by 102%, with pre tax profit following suite at 103%. The final dividend is increased by 10% making the total rise for the year, also 10%. APH’s philosophy, with its “can do” approach, is to become the rising star of European specialty pharma. The directors intend to maintain a progressive dividend policy.
TUI Ag TUI expects at least 10% growth in underlying EBITA for the current financial year. Winter revenue rose by 9% and customer numbers were up by 5%, with 97% of the winter programme sold. 48% of the summer programme has been sold so far, with revenue also up by 9% and customers by 4%
Johnston Press JPR saw sign of an improving trend emerge in quarter 4 which has continued into the new financial year, with a rise in the circulation figures of its key titles. for the year to the end of December adjusted revenue fell by 6% but with quarter 4 showing a rise of 1%, as the sector continued to suffer from revenue volatility and structural change. 2015’s statutory like for like profit before tax of £2.2m was turned into a loss of £300m for 2016 and basic earnings per share fell from 10p to a loss of 234p per share.
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Johnston Press Blames Brexit, Sterling and Headwinds
Johnston Press JPR saw total revenue fall for the year to 31st December, blame being directed wherever it will not show the board and management in a bad light. Summer trading was difficult and Brexit gets the blame for that by creating uncertainty. In quarter 3 severe headwinds were blamed for a 7% decline in revenue and poor old sterling gets a battering for causing the cost of ink and paper to rise. Signs of an improvement were seen in quarter 4 when the fall fell to 3%. The improvement has continued into 2017 with January producing a strong start and impressive newspaper sales results. Web page views rose by 15% and Facebook followers were up by 60%
Smart Metering Systems SMS 2016 was a transformational year with the continuation of year on year double digit growth. Recurring annual income rose by 20% in the year to 31st December. Gas meter recurring rent was up by 13% and electricity meter recurring rent more than doubled.
Haydale Graphene Ind. HAYD anticipates that group revenue for the current financial year will be below market expectations following the customer sampling programme taking longer than expected and meaning that commercial revenue from the customer will be delayed until the first half of the next financial year. In addition the decision to concentrate on collaboration with partners for the long term has and will result in reduction of short term revenue.
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Daily Actions – UK Main & AIM markets 11042016
Daily Actions is a daily summary analysis of changes in short term actions from our Daily Recs – AIM and Daily Recs Main markets reports. This report is typically distributed before the open of trading in London
AIM Market
ST Rec. changed | ||
From | To | |
Basic Resources | ||
Arian Silver | Buy | Neutral |
Ariana Resources | Buy | Neutral |
Centamin | Sell | Neutral |
Connemara Mining Company | Neutral | Buy |
Greatland Gold | Neutral | Buy |
Red Rock Resources | Buy | Neutral |
Financial Services | ||
FastForward Innovations | Buy | Neutral |
Tengri Resources | Neutral | Buy |
Manx Financial | Neutral | Buy |
Fairpoint Group | Neutral | Buy |
Inland Homes | Buy | Neutral |
Mirland Development Corporation | Neutral | Buy |
Health Care | ||
Cyprotex | Neutral | Buy |
Taihua | Neutral | Buy |
Industrial Good & Services | ||
Hargreaves Services | Neutral | Buy |
HML Holdings | Buy | Neutral |
Kennedy Ventures | Buy | Neutral |
Media | ||
International Greetings | Neutral | Buy |
Mediazest | Buy | Neutral |
Oil & Gas – Explorers | ||
Petrel Resources | Buy | Neutral |
Rockhopper Exploration | Buy | Neutral |
Xcite Energy | Buy | Neutral |
Oil & Gas – Producers | ||
Infrastrata | Buy | Neutral |
Technology | ||
Zoo Digital Group | Buy | Neutral |
Telecommunications | ||
MXC Capital | Neutral | Buy |
Main Market
ST Rec. changed | ||
From | To | |
Aerospace & Defence | ||
Cobham | Buy | Neutral |
Banks | ||
Barclays | Buy | Neutral |
Engineering & Machinery | ||
Hill & Smith | Sell | Neutral |
Food Producers & Processors | ||
Cranswick | Sell | Neutral |
Unilever (UK) | Sell | Neutral |
Leisure & Hotels | ||
Restaurant Group | Neutral | Buy |
Media & Entertainment | ||
Johnston Press | Neutral | Buy |
Software & Computer Services | ||
Micro Focus International | Sell | Neutral |
Speciality & Other Finance | ||
Rathbone Brothers | Buy | Neutral |
Telecommunication Services | ||
Cable & Wireless Communications | Neutral | Sell |
Utilities | ||
Severn Trent | Neutral | Sell |
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