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Ian Pollard – SFO Having Another Bash At Barclays

Barclays BARC has now been charged by the Serious Fraud Office with an additional charge to that which was brought against it in June 2017 but this time relating to the loan itself rather than simply an allegation of providing unlawful financial assistance in 2008. It will be interesting to see who comes out of it worst, Barclays or the SFO whose reputation for competent and skilful prosecuting is hardly of the highest.

Lok’ n Store Group LOK enjoyed strong trading during the first half year to the 31st January. January produced the highest ever levelof new monthly storage sales. First half like for like revenue rose by 6.9%, self storage occupancy as at 31st January was up by 6% and price per sq. foot let was up by 0.4% compared to  year ago. Trading at the new stores which have been opened is claimed to have been excellent.

Sosander SOS delivered a strong performance in December and January with net revenue having exceeded management expectations. Over Xmas and the New Year there were multiple sell outs on a number of products, generating large waiting lists which have been satisfied by repeat orders.

Proteome Sciences PRM Unaudited revenues for the year to the 31st December rose by 18%, whilst at the same time, costs fell by 5% and the order book strengthened. Re organisation in the first half led to a stronger performance in the fourth quarter with robust and increasing demand. Despite that progress has been lower than management would have wished for and the company is still loss making although the loss is expected to hve been reduced from £ 2.9m to £ 2.1m.

Proxama PROX delivered a 75% rise in revenue during the year to the 31st December, accompanied by a significant reduction in costs led by a large fall from 60 to 23 in the number of employees. The directors expect to see a fall of at least 50% in costs for the full year. A new management team was appointed during the year giving the company a lean expert team with the right skills and the lowest ever cost base.

Proactis Holdings PHD expects to report a 123% rise in revenue for the six months to the 31st Januay and a rise of 183% in adjusted EBITDA. This surge follows the acquisition at the beginning of August of Perfect Commerce LLC which contributed 50% of the total revenue for the half year. The company is also on target to produce the £5m. of synergies expected for the full year.

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Ian Pollard – Copper And Oil & Gas Recoveries Help Weatherly & Hardide

Weatherly International WTN saw a noticeable improvement in the copper price during the year to 30th June, since when they have improved even further and reached three year highs. Operating and environmental challenges during the year meant that production fell below target but the board is cautiously optimistic about prospects for the current year.

Hardide HDD. Sales for the year to 30th September soared by 51% and reached record levels as demand from the oil & gas market recovered. The recovery continued throughout the year with second half sales up by 14%. The annual loss fell to £0.74m. from the previous years £1.3m before exceptional items. There are further signs of  growth potential in the civil aerospace market and the company has gained full Aerobus Approved Supplier status for its UK site.

BAE Systems plc  BA has entered into a £5bn contract with the government of Quatar for the supply of 24 Typhoon aircraft, with delivery expected to start late in 2022. In service support and a training package are also included.

Marlowe  MRL Adjusted continuing  revenue rose by 104% in the half year to the 30th September and adjusted profit before tax was up by 90%. The company has a well developed pipeline of acquisition opportunities and is well positioned to continue to gain further market share.

Sosander plc SOS Trading from the 31st August to the end of November has exceeded management expectations. Following new funds raised in November the business now has significant momentum with the ability to acquire a wider and larger range of products and accelerate media and marketing activities.

Premaitha Health NIPT has further expanded its European customer base with the addition of four new laboratories which will be full installed early in 2018 with the expectations that they will perform over 9,000 NIPT tests per year across the whole of Europe, generating annual income for the company of over £1m.

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