Keyword results: Liberum

ITS
ITS

In The Style Group – states “pleased to provide” trading update, but it’s another lack of profits warning...

Womenswear online retailer In The Style (ITS) states it “is pleased to provide an update on Christmas trading for the eight weeks to 31 December 2021 as well as an update on its board of directors”. The shares though are currently down to 91p, so what’s the story?…

DX
DX

DX Group – audit delay uncertainty, shares set for suspension…but not yet. Just another day on ‘the world’s most successful growth market’!

From logistics group DX (DX.) today an “Update on Publication of Annual Report and AGM”-titled announcement, which sounds mundane… but the shares are currently at 18.5p, approaching 40% lower! So what’s going on?…

Frontier Developments – “well-established titles… continue to perform well”, BUT...

Videogames developer and publisher Frontier Developments (FDEV) has made a trading update commencing that its well-established titles, including Jurassic World EvolutionPlanet Zoo and Planet Coaster, continue to perform well. So why are the shares currently 35% lower on the back of it, towards 1600p?…

4imprint – argues “further encouraging progress”. Really?...

Promotional products group 4imprint (FOUR) has made a trading update emphasising “further encouraging progress… in the second half of the year to the end of October, weekly order totals have averaged 2% above 2019 levels”. So why are the shares currently slightly lower at around 3000p?…

Gattaca – “markets returning to growth”, so why a more than 13% share price fall?...

Engineering and Technology recruitment company Gattaca (GATC) has announced results for its year ended 31st July 2021 and that “since February we have seen the markets returning to growth across the majority of our major sectors, which has led to a candidate short market”. Why then currently a share price down 13.5% at below 180p?…

RCH
RCH

A News Outfit Unfairly Hindered by Covid Looks Set for a Better Future

Hello Share Bungers. I’ve just wasted most of a day researching a company to put before you. However, I became increasingly uncomfortable about the outfit because of one or two things it publicises that I’m uneasy about. So let me suggest you take a look at another company instead. It’s called Reach (RCH). I’m a little biased towards this lot as, being a hoary old hack, I like to encourage the art of print journalism.

KIE
KIE
PREMIUM CONTENT

Kier Group – full-year trading update, more upside to come?...

Kier Group (KIE), recommended in May at a 114.6p offer price, has made a trading update including “full year results are anticipated to be moderately ahead of the board’s expectations” and the shares are currently at 126p. More to come?…

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TEG
TEG

Ten Entertainment – emphasises “strong trading since reopening”… but how sustainable?

Previously writing on UK tenpin bowling and ‘family entertainment’ centres group Ten Entertainment (TEG), in September I concluded I’ll continue to monitor for further updates…on the watchlist. With the positive vaccines news, the shares reached 200p in November and 260p+ in May. So what now, with they currently at 248p on the back of a half-year trading update?…

UAI
UAI

City centre developments May Seem Covid-Prone, but this Progressive Outfit's Battered Share Price could Recover

Hello, Share Takers. Though I recoil from companies with only initials and numbers in the name, I’m rather taken by the prospects for a company called U+I (UAI). And, said out loud, it has a nice ring to it. This is an outfit described as a regeneration developer. This means that it takes rather unattractive brownfield big city sites, often overlooked by others, and turns them into something much more useful and attractive.

KIE
KIE
PREMIUM CONTENT

Kier – open offer result following subsidiary sale, recovery buy?...

Tip of the month last month, UK infrastructure services and construction group Kier (KIE) at a 114.6p offer price has announced the result of an open offer, following completion of its sale of the ‘Kier Living’ housebuilding business.

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Loungers – strong recent sales, but what does the valuation already discount?...

A trading update from operator of 173 café/bar/restaurants across England and Wales under the Lounge and Cosy Club brands, Loungers plc (LGRS) includes “like for like sales over the four-week period from 17 May through to 13 June 2021 were +26.6%, using the period 20 May to 16 June 2019 as the comparator”. The stock of recovery interest?…

CEY
CEY
PREMIUM CONTENT

Centamin – West African Portfolio Review: BUY

Fully-listed Egyptian Gold-producer Centamin (CEY) updated the market on its West African portfolio of exploration assets yesterday. Broadly speaking, one – Doropo –  is being progressed, a second- ABC – is to undergo further testing and a third – Batie West – looks like being shelved. Since I have largely ignored these assets as I value Centamin as it stands now, I’m not so concerned with shelving assets – but the one which is being progressed looks very interesting and could add significant value.

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FUM
FUM

Futura Medical – Entertaining Incompetence, but does anyone care?

With a hat tip to MB, I note that at 4:30 PM and 4:31 PM Friday, Futura Medical (FUM) announced that there was a placing and retail offer at 40p per share. Unfortunately, somebody at Nomad Liberum had forgotten that the market doesn’t actually close until 4:35 PM after the closing auction (which has been the case since 1997).

Safestay – how’s that “to be well positioned to re-open as restrictions are lifted” going?...

Previously writing on branded hostels company Safestay (SSTY), with the shares at 17.5p I questioned “to be well positioned to re-open as restrictions are lifted”?. Now a further update and the shares further lower – at 12.5p – in response…

Safestay – after early February “forward bookings for Q1 are very encouraging”, now…

Having updated early last month, today branded hostels company Safestay (SSTY) makes another “Trading Statement”. The early February one included “performance in the first month of 2020 and forward bookings for Q1 are very encouraging, a positive signal for the coming year, which will also benefit from the acquisitions made last year”. Now…

Mind Gym – “underlying trading remained strong between the half year-end and the end of January 2020, however”…

Describing itself as a “global provider of human capital and business improvement solutions”, Mind Gym (MIND) has updated commencing; “Underlying trading remained strong between the half year-end (30 September 2019) and the end of January 2020, however”

PREMIUM CONTENT

Joules – “premium British lifestyle brand” delivers a far from premium trading update

Self-styled “premium British lifestyle brand”, Joules (JOUL) has updated on trading for the seven weeks to 5th January including “stores and third-party concessions… performed in line with expectations... We remain focussed on continuing to expand the Joules brand”. The shares have currently responded to around 180p – er, circa 20% lower!...

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TPT
TPT

Topps Tiles – a year on, still caution?

A year ago I concluded on “the UK's largest tile specialist” Topps Tiles (TPT), the current results reality suggests a challenging time ahead. With now another trading update, how are things looking?...

SIS
SIS

Science in Sport – trading update, valuation as well as its nutrition products “premium”?

Self-styled “the premium performance nutrition company serving elite athletes, sports enthusiasts and the gym lifestyle community”, Science in Sport (SIS) has updated commencing “2019 has seen rapid progress at the company… total sales growth for the year to 31 December 2019 is expected to be slightly ahead of market expectations, with sales momentum into 2020 underpinned by operational progress including a new PhD.com e-commerce platform and a new protein powder line, which is now in full production”. Sounds encouraging…

Bearcast
PREMIUM CONTENT

Tom Winnifrith Bearcast: with respect Liberum you are talking cock

In today's podcast I start with a couple of reflections on the joys of modern life involving Andrew Monk of VSA, cannabis and the tossers at Barclays Bank (BARC). I look at Burford (BUR), Falanx (FLX), IQE (IQE), Xaar (XAR), Providence Resources (PVR) and Lansdowne Oil & Gas (LOGP). I forgot to mention Restaurant Group (RTN) but Chris "Three Brains" Bailey, again, covers it very well HERE and he is right. It is a slam dunk sell. Lucian Miers reckons it might just be a zero.

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RPS
RPS

RPS Group – from Australia “indications of improved performance” to “softness in Australia… materially below… expectations” in less than 2 months!

A 1st May AGM trading update saw project management group RPS (RPS) state “the Australian property market, as anticipated, remained subdued. However, the transport sector was strong, and the acquisition of Corview in February 2019 further strengthens the group's position in this market. There are indications of improved performance in both segments in the second quarter”. Now a further trading update; “in Australia”

TMO
TMO

Time Out Group - Neil Woodford dog argues “rolling out this successful format”. Really?

Time Out Group (TMO) “is pleased to announce that Time Out Market New York opens to the public today, bringing the best of the city under one roof, based on the editorial curation Time Out has always been known for”. The shares though are still sub 95p – comparing to a 150p June 2016 IPO…

Staffline – update & shares resume trading, accusations deliberately timed to cause maximum disruption?

On 30th January, after at first only announcing “Delay to publication of results… the company will provide a further update as soon as possible”, shares in Staffline (STAF) were eventually suspended (3:50pm) and it was updated (6:14pm) including that “concerns were brought to the attention of the board relating to invoicing and payroll practices… shareholders will be updated in due course”. Today a “Group Update and Restoration of Trading” – and the shares currently more than 25% higher, at around 840p, capitalising the company at £235 million…

FFI
FFI

FFI Holdings – having listed little more than 20 months ago... not again surely!…

In June 2017, at 150p per share, “FFI Holdings (FFI), the world leader in the provision of completion contracts to the entertainment industry for films, television, mini-series and streaming products, is pleased to announce… admission of its ordinary shares to trading on AIM” and in September of that year CEO Steven Ransohoff was emphasising “following our successful IPO, FFI has been working diligently on improving costs associated with our Completion Contract business. To that end, I am excited to announce the formation of our captive insurer, FFI Insurance, together with our long-time partner, MS Amlin”. But since…

Hotel Chocolat – “pleased to report continued progress”… but sufficient for the valuation?

Angus Thirlwell, co-founder and CEO of “premium British chocolatier and omni-channel retailer”, Hotel Chocolat (HOTC) is “pleased to report continued progress for the Hotel Chocolat brand during the 26 weeks to 30 December 2018” – and the shares have responded currently approaching 3% higher to 315p. How do the results and outlook compare to a present more than £355 million market cap?...

Footasylum – shares sprint ahead on JD Sports move… but what about trading tripping-up badly?

An “Acquisition of stake by JD Sports Fashion Plc” (JD.) – and a 90% increase in the share price of Footasylum (FOOT) yesterday, to 55.2p. That though still compares to a 164p AIM IPO in just November 2017 – so there value here?...

Plus500 – share buyback & shareholder moves. A 1760p price target… or not?

Following the same yesterday, both a “Transaction in Own Shares” and “Holding(s) in Company” announcement from Plus500 (PLUS) already today. The shares have though currently responded further lower, below 1000p…

Hotel Chocolat – argues “another strong Christmas”, but how’s the outlook v. the valuation?

“Premium British chocolatier and omni-channel retailer”, Hotel Chocolat (HOTC) has updated on the 13 weeks ended 30th December including “this was another strong Christmas for Hotel Chocolat” and adding “trading since December continues to be in line with management's expectations”. What are expectations though?, and how do they compare to the valuation? – the shares currently circa 5% higher on the day, above 280p – capitalising the company at approaching £320 million…

TPT
TPT

Topps Tiles – trading update, consumer confidence & spending caution?

A trading statement from Topps Tiles (TPT) includes “our strategy of ‘out specialising the specialists’ continues to serve us well” and “we continue to make good progress with our plans for commercial and our strategy of ‘disrupt and construct’ is proving successful”. However, a sub 65p share price compares to more than 90p in early 2018…

Footasylum – trading statement, continuing to trip-up badly

In September, previously writing on Footasylum (FOOT) it was our warnings prove sage as now tripping up badly. Today a “Trading Statement”

Hotel Chocolat – opens in Japan, growth profile “very interesting indeed”?

Hotel Chocolat (HOTC) has announced the opening of the first Hotel Chocolat store in Japan, emphasising a “hugely encouraging” reaction – this following house broker Liberum having noted on September-announced results “management has developed Hotel Chocolat into the leading UK premium chocolate brand and is now expanding that strategy into new international markets. The combined market size of the USA, Japan and Scandinavia is some 4.6x that of the UK and with sensible plans in place, the next stage of Hotel Chocolat’s growth profile looks very interesting indeed”

Plus500 – argues “a good position for 2019”. How good?

Contracts for Differences online trading platform company Plus500 (PLUS) “is pleased to announce… the board believes that the group's results for the financial year ended 31 December 2018 will be ahead of previous market expectations” - and the shares have responded currently more than 11% higher, above 1400p. That though also still compares with more than 2000p reached in August…

RPS
RPS

RPS Group – Q3 trading update sees shares slump. Justified?

Half-year results on 2nd August from RPS Group (RPS) saw CEO John Douglas emphasising “we have made good progress in respect of our strategic priorities including the re-organisation of the business that will provide a solid platform for growth”. Today the company reports third quarter adjusted profit below expectations and a warning that profit will be further impacted by “necessary investment in the business”. Uh oh…

Plus500 – emphasises “ahead of expectations”… but still a 14% quarterly revenue decline

A trading update from “online service provider for trading Contracts for Differences”, Plus500 (PLUS) including “in the three months ended 30 September 2018, the company's revenue was $100.1 million, a decrease of 14% compared to the same period last year. This period included two months (August and September) of trading post the newly implemented ESMA regulations”. The shares have currently responded, er, more than 6% higher, back above 1300p!…

FDP
FDP
PREMIUM CONTENT

First Derivatives - are its reported earnings real? After 20 years is KPMG sure?

A few days ago I showed hard evidence that the 2002 IPO of First Derivatives (FDP) was based on false earnings. That was dismissed by supporters as being so long ago that it did not matter. It does! But how about we move to the issue of whether reported earnings in the past three years are "real" or cooked up. I suggest it may well be the latter in which case the stock is going to tank at some stage, soon, when investors realise this. Let me explain...

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FDP
FDP
PREMIUM CONTENT

Shenanigans at First Derivatives Don’t Look Good. Sell

I doubt that there was the slightest sense of embarrassment at last week’s AIM awards (a ghastly sounding knees up for the world’s seediest stock market) when First Derivatives (FDP) picked up two gongs: Best Technology award for the company itself and Entrepreneur of the Year Award for its founder and CEO Brian Conlon. Presumably these awards were decided well before First’s price tanked amid some serious concerns being raised and the organisers, in true AIM style, were too gormless to think on their feet and give them out to a less dodgy enterprise.

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VRS
VRS
PREMIUM CONTENT

Neill Ricketts walks on water but Versarien remains a sell for the brave (& First Derivatives)

Neill Ricketts, CEO of Versarien (VRS), the graphene company which is currently the number one pin-up stock on AIM, can be forgiven for thinking that he can walk on water.

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SXX
SXX

Sirius Minerals – announcement includes “significant steps forward for the business”… so why a share price slump?

“Procurement and capital estimate update” announcement from Sirius Minerals (SXX) sees CEO Chris Fraser commencing comment by emphasising “the signing of the contracts for the remaining tunnel drives and the materials handling facility at Wilton are significant steps forward for the business with almost all procurement now complete”. However, the shares have responded currently circa 10% lower, to around 30p. How’s that capital estimate then?...

PREMIUM CONTENT

Footasylum – our warnings prove sage as now tripping up badly

Footasylum (FOOT) IPO’d on AIM in November at 164p, with CEO Clare Nesbitt stating we “look forward to delivering the significant potential that we see for Footasylum as a quoted business” and “are delighted that our product-led, multi-channel expansion strategy has resonated so strongly with investors”. I though questioned on competition and disposable income challenges, and concluded that the valuation looked too rich. There then followed deviation from the IPO expectations and now a “Trading Statement” update…

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AIR
AIR

Air Partner – “traded well over the first half”. Just how well?

Air Partner (AIR) has updated including that it “traded well over the first half of the financial year” and “remains confident in the group's prospects for the full year and beyond”. Sounds encouraging…

GMD
GMD

GAME Digital – current revenue & margin challenges v. BELONG growth initiative?

GAME Digital (GMD) has updated including “group revenue for the 52 weeks ended 28 July 2018 is expected to show a small decline at approximately £780 million (2017: £782.9 million)”. That compares to at the half-year stage “revenue of £517.4 million… an increase of 3.9%”. Hmmm…

Plus500 – emphasises “very successful first half”… so why are the shares materially lower?

Plus500 (PLUS) has announced results for the first half of 2018, including emphasising “we have had a very successful first half with two major milestones; another record set of first half results including an exceptional first quarter performance and completion of our move up to the Main Market”. However, having recently exceeded 2000p, the shares have responded materially lower towards 1700p. Hmmm…

FAN
FAN

Volution – “in line with the board's expectations”… or not?

Ventilation products group Volution (FAN) has updated on its year ended 31st July 2018, emphasising “revenue in the 12 month period was £206 million, an 11.3% increase (11.2% on a constant currency basis) compared with the prior year” and “our increasing market and geographical diversity, together with significant investment in new product innovation, gives us confidence for the year ahead”. Do the shares thus merit a higher price than the circa 200p they were also at as long ago as early 2016?...

Hotel Chocolat – Scandinavian development agreement, ‘recent share price weakness unwarranted’? Hmmm…

Shares in Hotel Chocolat (HOTC) are currently more than 5% higher, heading towards 350p, on the back of the announcement of a “Scandinavian Development Agreement”. Further gains to come?...

SFE
SFE

Safestyle UK – having been “pleased” with a legal outcome in May, how’s trading?

In May Safestyle UK (SFE) was “pleased” with an interim legal outcome and the shares bounced above 60p. However, I concluded there remains a raft of uncertainty meaning I wouldn’t want to own the shares - and continue to avoid. Today a trading update

TPT
TPT

Topps Tiles – ‘continue to make good progress with our core strategy’, so why continuing share price decline?

Shares in Topps Tiles (TPT) are currently further lower following a recent Q3 trading update – despite it arguing it continues “to make good progress with our core strategy of ‘Out-Specialising the Specialists’ to extend our market leading position in the UK tile market”. Hmmm…

FDP
FDP
PREMIUM CONTENT

First Derivatives & scandal plagued KPMG Belfast – this is all too cosy: Sell

I am the last person to berate the fine folks from my family’s ancestral homelands  of the Kingdom of Ulster or indeed the modern day province. SUFTUM is what I say as I wake up every morning to retweet - with my own comments - @onthisdayPira . But some communities are just perhaps just too tightly knit, too cosy. I refer to the accounting arrangements of First Derivatives (FDP).

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SThree – half-year trading update, 33% total return potential?

Writing previously on specialist staffing company SThree (STHR) in March, I questioned Q1 update has its attractions… but attractive enough?.There’s now a Half Year Trading Update

TMO
TMO

Time Out Group – Woodford dog argues “continues to trade well”. Really?!

Media and entertainment group Time Out (TMO) has updated including “the group continues to trade well” and “we remain confident in meeting our strategic and financial goals for the year”. The shares have responded currently approaching 4% higher, to 83p, but why (other than natch, with Woodford Investment Management a significant shareholder), are they still down from a 150p June 2016 IPO and above 130p at the commencement of this year then?...

TPT
TPT

Topps Tiles – after Q1 “an encouraging start”, what about Q2?

In January Topps Tiles (TPT) stated “an encouraging start to the new financial year with like-for-like sales in Q1 up by 3.4%”. Today a further Trading Update

SThree – Q1 update has its attractions… but attractive enough?

Previously writing on specialist staffing company SThree (STHR) I concluded it may be relatively well placed, but macro concerns saw me cautious on the shares. Today a Q1 Trading Update

Hotel Chocolat – interims emphasise “another period of strong progress”… but progress enough for the valuation?

Chocolatier and retailer, Hotel Chocolat (HOTC) has announced results for its half year ended 31st December 2017, including emphasising “another period of strong progress… with growth in both sales and profits” and “a strong differentiated brand which offers great products and customer service and that is priced as an affordable luxury, gives the board confidence in the group's continued progress”. So why have the shares responded lower, towards 300p?...

Footasylum – what growth to expect following recent AIM listing?

I reviewed Footasylum (FOOT) on its November AIM listing being followed with a director buy announcement, concluding cautiously with the shares then at 209.5p. They would go on to commence 2018 at more than 250p, but are currently back to just over 200p…

4imprint – “Trading Update”… but how is bottom-line performance against expectations?

“Trading Update” announcement from 4imprint (FOUR) concludes “the board expects that full-year revenue will be in line with market consensus, and that underlying operating profit margin percentage will remain broadly constant”. What does this mean for bottom-line performance against expectations then?...

Hotel Chocolat – full-year results, is the share price recovery justified?

In July, previously writing on Hotel Chocolat (HOTC) I noted trading update omissions and retained previous caution with the shares higher at circa 335p. They would fall towards 250p, but have recovered to a current 306.5p on the back of the results announcement for a 53 week period to 2nd July 2017…

TMO
TMO

Time Out – after a ‘trading update’ with nothing below the revenue line, “pleased to announce” interims. It shouldn’t be…

I previously wrote on Time Out Group (TMO) following a “trading update” for the first half of 2017 – noting that below the revenue line there wasn’t any detail provided, perhaps something to do with a house broker forecast for a full-year adjusted pre-tax loss of £19.5 million? The company is now “pleased to announce its unaudited half year results for the six months ended 30 June 2017”

TMO
TMO

Time Out Group – argues “well positioned”, so why are the shares muted?

Time Out (TMO) has updated on the first half of 2017, arguing “we are well positioned to drive further growth, transactional traffic and monetisation of our unique content”. The shares though, at 138p, remain below the 150p June of last year AIM listing price…

SThree – trading update argues “solid base”, but what about the macro picture?

Shares in staffing business SThree (STHR) are currently trading higher, above 300p, on the back of a half-year trading update. However, they are still lower than the more than 330p reach earlier this year, so what’s the current story here?...

SXX
SXX

Sirius Minerals - Phase 1 £850m financing announced: buy, sell, or hold?

Congratulations to Sirius Minerals (SXX) which looks to be almost there on securing the finance to build out phase one of its potash mine in North Yorkshire. A few things are up in the air so should you, at 32.875p, buy sell or hold?

SXX
SXX

Sirius Minerals shares to more than double!

Okay the research note claiming that shares in Sirius Minerals (SXX) will zoom from 18p to 40p is made by its own house broker Liberum. On that basis it is - like all house broker buy notes - to be taken with many pinches of salt. But just to annoy my pal Lucian Miers who is short and to show we are happy to offer a variety of views. To be clear, I personally have no view.

Stelios says Fastjet profit forecasts fantasy, says cash crisis looming as he calls EGM

Oh dear. Baby Bear called this one to 0p at Gold & Bears HERE since when shares in Fastjet (FJET) have soared but now the chickens are coming home to roost with Sir Stelios Haji-Ioannou warning that the company has misled investors and is facing a cash crunch.

OPP
OPP

F40 Origo Partners – is it bag of crisps time? 0p ahoy?

This surely is terrible news for shareholders in ShareProphets AIM-China Filthy Forty play Origo Partners (OPP): an RNS shortly before close of play yesterday saw the announcement of the results of a series of meetings which had been called to consider the restructuring of a series of debts (or, rather, convertible zero dividend preference shares). The holders of the zeros voted it through but, oh dear, those pesky ordinary shareholders did not. The result: Origo could be toast.

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