Keyword results: net debt

Card Factory – ‘ahead of expectations for FY22’… but what were they, that year is about to end for it and what about next year?...

A trading statement announcement from greeting cards and complementary products retailer Card Factory (CARD) is headlined “Trading ahead of Board expectations for FY22”. So why have the shares currently responded to around 54p, 15% down?…

Accrol – hopefully prior warnings here were heeded as now a further profit warning and a “strategic review”

Previously writing on “the UK’s leading independent tissue converter” Accrol (ACRL) in October with the shares falling below 40p, I concluded that the group argues the latest are “short-term external challenges”, but also raw material supply chains “further tightening in recent weeks”. As such, hopefully the prior warning was heeded and the stance remains avoid. Today a further trading update and the shares… further down to 25p. So what’s the latest?…

FA
FA

FireAngel Safety Technology – “remains on target to meet market expectations”, But...

Home safety products group FireAngel (FA.) has made an update commencing that “it remains on target to meet market expectations” and including that “recently, the company notes that it has seen a slight improvement in component availability which is encouraging for 1H 2022”. So what of a share price, at 13.5p, which remains depressed even compared to earlier this year?…

TWD
TWD

Trackwise Designs – “pleased to announce”… a massively discounted placing AGAIN!

Provider of specialist products using printed circuit technology Trackwise Designs (TWD“is pleased to announce that it has conditionally raised gross proceeds of £6.0 million… Oversubscribed… This fundraise will enable the delivery of a step change in our IHT commercial proposition”. An oversubscribed growth fundraise… so a good price then relative to a last closing 145p share price?…

EZJ
EZJ
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easyJet – a Recovery Buy?

An already widespread virus mutating to what is being seen clinically as “extremely mild cases”. Not bad news then… except in Airstrip One – and a resultant very negative stock market reaction. However government response madness is gradually being revealed and travel and leisure should resultantly gradually recover, though some share prices here remain depressed. Opportunity?…

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MBT
MBT

Mobile Tornado – Canada customer contract update, how likely really is extension or amendment?

Self-styled “leading provider of instant communication mobile solutions to the enterprise market” Mobile Tornado Group (MBT) has announced it has received notice from its customer in Canada that the customer will not be renewing its contract but it “remains in discussions with the customer about the possibility of extending or amending the contract”. So what of a current response, to below a 2p share price, £7.5 million market cap, 20% lower?…

TGP
TGP

Tekmar – ‘contract award’… but how significant and how’s the financial position?

Offshore energy markets technology and services provider Tekmar Group (TGP“is pleased to announce a contract award from Global Offshore to supply Cable Protection Systems for the Arcadis Ost 1 offshore wind farm in Germany”. So what’s the detail and what of the shares, which have currently responded higher to 53p?…

DIA
DIA

Dialight – “expectations for the year remain unchanged”. Do they?...

Previously writing on the company which describes itself as “the global leader in LED lighting for heavy industrial applications” Dialight (DIA), in August with the shares up to 332p I concluded I’ll continue to monitor the company’s recovery potential but, with also continuing “impact of component shortages, extended lead times and logistical challenges”, I continued to avoid. Today a trading statement which commences “The group has traded well in the period, quoting activity has significantly increased with a greater number of capex projects. Order intake year to date was up 34%, driven by a strong performance in the Lighting segment”, so why are the shares currently slightly further lower to 325p?…

IMB
IMB
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Imperial Brands – full-year results emphasise operational improvements, Buy

Imperial Brands (IMB) has announced results for its year ended 30th September 2021, emphasising “operational improvements supporting growth in net revenue, profit and free cash flow”.

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IMB
IMB
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I’ve never smoked, but I do still believe that shares in Imperial Brands are cheap

There are naturally many different views on tobacco shares. I have never smoked and dislike even being moderately close to smokers, but Imperial Brands (IMB) is in the top half of my personal pension fund portfolio. And, as I noted back in July, it is not the only UK listed name in the global sector which is cheap. I have hardly made a fortune holding shares in Imperial Brands over the last couple of years, but I have done alright, aided by increasing my position earlier this year (and then there have been some very reasonable dividend payments too – more on this later). So what do I make of today’s full year numbers to the end of September?

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GYG
GYG

GYG – trading update, how confident of avoiding a cash crunch?

Previously writing on yacht painting, supply and maintenance company GYG plc (GYG), last year with the shares at 81p I concluded the valuation saw me still only monitoring for trading improvement and still avoiding. What then now following a trading update today – and the shares further lower towards 50p?…

BP
BP

BP – Q3 results, positive cash generation and shareholder returns

BP (BP.) has announced third quarter of the year results, emphasising it is delivering significant cash to strengthen finances, growing distributions to shareholders and investing in strategic transformation.

DS Smith – ‘more than offsetting input cost increases’, Buy

Packaging company DS Smith (SMDS) has announced for its half-year it is more than offsetting significant input cost increases, helped by continuing strong structural drivers of growth.

TRN
TRN
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Continued comedy at Trainline

I used to use Trainline (TRN) a bit in the two or three years before the world of COVID-19 emerged, probably more from a convenience perspective than potentially saving loads of money when booking a train journey. Like many people though, I have been on way less than 5% of the train journeys I historically would have been on during the last 20 months. Maybe it might be less than 10% of the 2019 journey norm next year, but suffice to say Trainline should not be getting too excited.

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BMS
BMS
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Braemar Shipping Services – interims, what is ‘ahead of previous guidance’ & how’s the balance sheet?...

Previously writing on Braemar Shipping Services (BMS), last month with the shares up to above 263p I noted ‘ahead of previous guidance’. How’s the balance sheet now?. So what do half-year results today show?…

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FSJ
FSJ

James Fisher & Sons – “the board remains confident in the group's strategy”. Er, why the “detailed” reviews then?!

A trading update from marine service provider James Fisher & Sons (FSJ) includes that “revenue in the quarter ended 30 September 2021 was 7.6% higher than Q3 2020 and 8.7% higher than Q2 of 2021… The board now anticipates Underlying Operating Profit for the full year, before separately disclosed items, to be in the range of £27m – £32m”. So why are the shares currently, at around 530p, more than 30% lower?…

MTL
MTL

Metals Exploration – Q3 update, project improvements and more coming

Gold producer in the Philippines, Metals Exploration (MTL) states that it “is pleased to announce its quarterly results for Q3 2021” and that further project improvements are coming.

MCB
MCB

McBride – further inflation ahead of expectations… with those expectations only announced last month!

Previously writing on cleaning and hygiene products private label and contract manufacturer McBride (MCB), in August with the shares falling below 80p I wrote price increases “challenges” & more. Hopefully our warnings were heeded, concluding there now seems set to be a first half loss and, with the previously noted clear challenges being added to, I question how much confidence there can really be in the suggested second half recovery. Hopefully prior warnings here were heeded and at this juncture still avoid / sell. The shares last closed at 69.4p and are now further lower on the back of an AGM Trading Update”…

IMB
IMB
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Imperial Brands – full-year trading statement, Income Buy

Imperial Brands (IMB) is “pleased to report the business continues to perform well… on track to deliver our full-year results in line with expectations”. That suggests upside potential from a below 1500p share price.

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Brighton Pier Group – trading update, short-term or sustainable strong recovery from blundering Boris impact?

Brighton Palace Pier, mini golf, bars and Lightwater Valley theme park company Brighton Pier Group (PIER“is pleased to announce a trading update” and the shares are currently approaching 17% higher at 62.5p. So what’s the story?…

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LPA
LPA

LPA Group – “Year End Trading Update”… so why at 11:53am?...

Previously on LED lighting, electronic and electro-mechanical systems group LPA (LPA), I wrote trading warning, argues “victims of our own success”. Really? in March with the shares at 75.5p. They were still above 70p this morning, but at 11:53am a “Year End Trading Update”-titled announcement. If a scheduled such trading update why the intra-day release?…

Pharos Energy – farm-out and interims, Buy

Pharos Energy (PHAR) has announced its results for the first half of 2021 and agreements for the farm-out and sale of a 55% working interest and operatorship in each of the Egyptian El Fayum and North Beni Suef Concessions.

Fintel – interims, organic growth and acquisition value creation from here?

Formerly SimplyBiz Group, provider of technology and support services to the UK Retail Financial Services sector Fintel (FNTL) has announced results for the first half of 2021 and emphasised “significant financial resources to match our ambitions for the business, both in terms of accelerating organic growth and creating value through acquisitions”. What of the valuation, with the shares little changed at around 235p?…

CMH
CMH

Chamberlin – trading update ‘encouragement’? Er...

Previously writing on castings and engineering company Chamberlin (CMH), in December I noted main businesses weren’t performing solidly… & certainly aren’t to be now!. Today though a trading update including “encouraging start to current financial year; leading to expectation of stronger levels of sales growth and return to profitability in second half of year”. Turnaround potential?…

TLW
TLW

I Followed the Fellows in Tullow and Lost Money. But Now Things are Looking Up

Hello Share Finders. This old punter doesn’t often discuss Tullow Oil (TLW). This is because it’s lost me money since I bought about 10 years ago, and it’s only been treading water for quite some time. However the share price just shot up on a six months results report just out. The reasons for the rise look convincing.

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AltynGold – interims, results of capex “look promising”...

Gold miner in Kazakhstan, AltynGold (ALTN) has announced its results for the first half of 2021 and that the results of its capital expenditure “look promising”.

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ENQ
ENQ
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EnQuest – interims, some production disappointment but still clear value potential?...

EnQuest (ENQ) has announced its results for the first half of 2021, emphasising strong free cash flow, that it remains focused on improving production across the portfolio and that the Golden Eagle acquisition remains on track to complete around the month-end and will add production, reserves and cash flow.

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PEN
PEN

Pennant International – a “satisfactory” first half?, why the further share price decline?...

Previously writing on provider of technology-based training and support to the defence and regulated civilian sectors Pennant International (PEN), in April I reviewed why “pleased to report” full-year results saw the shares approaching 14% lower at 38p and concluded continue to avoid. Today a stated “satisfactory” half-year and “anticipates that its financial performance will improve significantly in the second half… trading remains in line with market expectations for the year as a whole”, so why are the shares currently a further more than 12% lower on the day to below 30p?…

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More capex but more personal optimism in Polymetal

Nearly seven months ago I observed that you should ‘always believe in gold…but stick with Barrick (GOLD) and Polymetal (POLY) and not Yamana (AUY)’ HERE. Most gold stocks are down year-to-date – after an excitable previous couple of years – and these three stocks have been no different. So what do I make of Polymetal now after it published its first half numbers today?

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Jaywing – full-year results, how ‘pleasing’ “an increase in underlying earnings”?...

Previously writing on data science-specialising marketing and consulting company Jaywing (JWNG), last month with the shares at 10.5p I suggested previous results didn’t provide confidence of secure foundations being in place and ahead of updated financials news I avoided. What then now of results for its year ended 31st March 2021, with the shares currently at 12.75p?…

WG
WG
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Despite excitable ‘net-zero future’ comments, I continue to avoid Wood Group

Back in June I observed about ‘British multinational engineering and consulting business’ John Wood Group (WG.) that ‘having made a small profit a few months ago, my view today is to AVOID (but keep watching)’. As for the shares since then, they have gone down a bit further to currently trade at 222p. I guess I bought more (last year) and sold all (early this year) pretty well. So any interest now?

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Filta Group – “revenues have continued to rise”… but what about the bottom-line & the shares?

Previously writing on provider of fryer management and other services to commercial kitchens, Filta Group (FLTA), in June with the shares at 169p I noted the market cap had already recovered to more than £49 million and I continued to avoid. The shares last closed at 144p but are currently a few percent higher today on the back of a further trading update. Is this justified?…

MCB
MCB

McBride – price increases “challenges” & more. Hopefully our warnings were heeded...

Previously writing on cleaning and hygiene products private label and contract manufacturer McBride (MCB), last month with the shares around 90p I concluded it “continues to discuss margin recovery actions with our customers”. With these major retailers and brand owners, good luck with that! I look forward to more detail with 7th September-scheduled results for the company’s year ended 30th June 2021, but the noted clear challenges see me presently continue to avoid. Today a further “trading update”…

RNK
RNK
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Prefer Rank Group shares or a game of bingo?

It was about two years ago when I last talked about Rank Group (RNK) shares. The basic gist back then was that I thought shares in the Grosvenor and Mecca casino, bingo, gaming machines and much more owner were ‘worth a punt’. Given the then c. 160p share price almost doubled by early 2020, that worked out pretty well. However, today the shares are back at a 175p share price (and via a sub 100p level nine months ago). So how do I feel now about the company that has been ‘entertaining Britain since 1937, by bringing people together for fun and entertainment’?

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BP
BP

BP – Q2 results, creating value now and for the future?

BP (BP.) has announced second quarter of the year results emphasising “generating value for our shareholders today while we transition the company for the future”. Sounds good, but what’s the detail?

TTG
TTG

TT Electronics – interims emphasise strong “order book visibility”, what about valuation?...

Engineered electronics company TT Electronics (TTG) has announced results for the first half of 2021, emphasising “expected revenues for 2021 fully covered and order book visibility for 2022 is building nicely and ahead of where it would normally be at this stage of the year”. What of the valuation, with the shares currently up to 277p in response?…

GSK
GSK
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GlaxoSmithKline – second quarter results, still a recovery buy

GlaxoSmithKline (GSK) has announced second quarter of the year results, including stating “strong commercial execution” and “we are likely to deliver full-year Adjusted EPS towards the better end of our guidance range”. So where now for the shares?, with they currently having responded back up to 1400p.

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MTL
MTL

Metals Exploration – Q2 challenges but a better outlook

Gold producer in the Philippines, Metals Exploration (MTL) has announced quarterly results, including noting production challenges but also that it believes it is well placed for the second half of the year.

Epwin – emphasises “strong trading”, but outlook?...

Previously writing on building products manufacturer Epwin Group (EPWN), in May with the shares at 107p I noted “indicators of consumer confidence strengthening”… but value here?. The shares last closed at 106.75p but are currently above 110p on the back of a half-year trading update. So what’s the latest?…

TCN
TCN

Tricorn – “there may be a requirement to operate beyond its existing facilities”. Uh oh...

Previously writing on manufacturer and specialist manipulator of pipe and tubing assemblies Tricorn Group (TCN), last week I reiterated my view from the end of last month with the shares slumping from 8.25p that how expensive the funding options I wonder? Natch, still currently bargepole. Today a “Company and Formal Sale Process Update”-titled announcement, and the shares currently further lower to below 4p!…

LoopUp – I having previously concluded my doubts remain, “Trading Statement”...

Previously writing on cloud communications platform group LoopUp (LOOP), in March with the shares at 86.5p I noted that my doubts remain. Today it has made a half-year trading update including that “in Cloud Telephony, we have seen a material acceleration in new customer wins”…but the shares have currently responded further lower, closer to 50p. So what’s going on?…

TCN
TCN

Tricorn – I having previously questioned how expensive the funding options, “Strategic Review”...

Previously writing on manufacturer and specialist manipulator of pipe and tubing assemblies Tricorn Group (TCN), at the end of last month with the shares slumping from 8.25p I concluded how expensive the funding options I wonder? Natch, still currently bargepole. Today half-year results and more…and the shares further lower…

600 Group – “Trading Update and Notice of Results”, Business recovery?

Reviewing on industrial engineering company 600 Group (SIXH“loan note restructuring”, adding to business recovery? last week, I concluded with this loan notes move now announced, the results announcement could follow soon – it was 10th July in 2019 – and I’ll review again on that. Today a “Trading Update and Notice of Results”…

Pharos Energy – trading & operations update, clear potential catalysts

Pharos Energy (PHAR) President & CEO Ed Story argues in a half-year ‘trading & operations update’ “pleased to be able to report a period of progress for the group”, but the shares have currently responded lower to 23.8p.

600 Group – “loan note restructuring”, adding to business recovery?

Industrial engineering company 600 Group (SIXH“is pleased to announce the successful restructuring of the company’s 2022 8% loan notes and associated warrants to subscribe for new ordinary shares in the company at a price of 20 pence per new ordinary share”. What’s the impact of this, with the shares up from 10.75p when I previously commented on them to a current 13.75p?…

MCB
MCB

McBride – 'continues to discuss margin recovery actions with customers'. Good luck with that!...

Cleaning and hygiene products private label and contract manufacturer McBride (MCB) has made a trading update including “stronger demand for cleaners and dishwasher products in the second half” and “banking covenants on debt cover are expected to be approximately 1.4x, well within our covenant limit of 3.0x. The group continues to have material headroom against its revolving credit facility of €175m”. How does a share price of around 90p look – with it down from above 94p in April and above 135p in early 2019?…

GSK
GSK
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GlaxoSmithKline – a Recovery Buy?

FTSE-100 pharma and healthcare company GlaxoSmithKline (GSK) is currently engaged in somewhat of a battle with well known activist investor Elliott Advisors. However, that is about the level of change as change is coming and Elliott is only involved as it “believes GSK has a substantial value creation opportunity – 45% upside in its share price – ahead of Consumer Health separation and greater beyond”. We concur that there is an attractive value creation opportunity here…

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DS Smith – further recovery and structural growth potential following full-year results?...

At 425p, shares in fully fibre-based, innovative packaging for consumer goods company DS Smith (SMDS) are well up on our 321.8p offer price November recommendation but is there more to come, particularly following results for its year ended 30th April 2021 and “accelerated opportunities a post-Covid-19 world offers”?…

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?…

GYM
GYM

Gym Group – how “successful” the placing and likely outlook?

Gyms operator Gym Group (GYM) has announced “successful completion” of a placing raising a gross £31.2 million. How ‘successful’ is the placing and what’s the outlook from here?…

RBN
RBN

Robinson – sales growth… so why significant share price decline?...

Manufacturer of plastic and paperboard packaging Robinson (RBN) has updated on trading including “sales in the first five months of the year are 17% ahead of the same period in 2020”. So why are the shares, at 112.5p, currently approaching 20% lower?…

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DS Smith – strange name but a great company

I admit I am very boring when talking about everything including shares. It is amazing that my wife is still with me. Back in April, I observed about FTSE 100 name DS Smith (SMDSI ‘typically loving-up its exposure to e-commerce delivery box-making…along with a capability for sustainable packaging solutions, paper products and recycling services worldwide’. The share has historically worked really well for me – especially over the last nine months – but I do admit it has made little further progress since my last write up a couple of months ago. So should I still be excited or start to consider alternative options after today’s publication of its full year numbers to the end of April?

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KIE
KIE
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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?…

GMS
GMS

Gulf Marine Services – as warned here, there’s a massively discounted equity raise...

Previously writing on support vessels provider Gulf Marine Services (GMS), with the shares above 7p in March I questioned it stating “as the numbers demonstrate… in a strong position”. Today a “pleased to announce… proposed capital raising” – and the shares currently at 3.25p…

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Pharos Energy – Egypt and Vietnam updates, still a Buy?

Pharos Energy (PHAR) has made an update on its operations in Egypt and Vietnam which the market likes – the shares are higher at above 25p. So what’s the news?…

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This Illuminating Company's Shares have Lit Up the Sky, but There could Still Be More Room to Shine

Hello, Share Farmers. This old punter is abashed to say that there isn’t much LED lighting at Stacey Towers. Stupidly, the price of a bulb puts me off – even though the saving on power easily outweighs the initial cost. Of course, the rest of the world is not so obtuse and there are signs that LED bulbs are selling like hot cakes. Which should help Luceco (LUCE), which makes them.

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Playtech – good sale and a sensible update. Still an undervalued gambling software development name

I know there are updates today from names such as Marks and Spencer (MKS) observing that it achieved ‘profit before tax & adjusting items of £41.6m’, whilst SSE plc (SSE) confirmed the payment of an 81p per share dividend for the year, slightly up on last year. Such excitement…not. Far more interesting for me this morning is considering updates from Playtech (PTEC– on which I concluded a couple of months that I was ‘still holding onto my profitable position’ in the gambling software development company. So what did the Playtech management say across today’s two updates?

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PFD
PFD

Noshing at Home Boosts Premier Foods Towards a Tasty Future

Hello, Share Munchers. The company that flogs Mr Kipling cakes has posted some exceedingly good figures. Premier Foods (PFD) seems to have been cheered by the pandemic rather than hit by it. And some of that is because folks are using more of the firm’s ingredients to do more home cooking. It’s eased the boredom of lockdown.

Epwin – “indicators of consumer confidence strengthening”… but value here?

Self-styled “leading manufacturer of low maintenance building products, supplying the Repair, Maintenance and Improvement, new build and social housing sectors” Epwin (EPWN) is “pleased to report that trading in the year to date has continued to be strong… revenues for the first four months of the year… 9% ahead of 2019”. Why then are the shares still currently at 107p?…

DIA
DIA

Dialight – trading update, how “encouraging” the start to the year?...

Self-styled “the global leader in sustainable LED lighting for industrial applications”, Dialight (DIA) has announced a trading statement emphasising AGM trading update – encouraging start to the year”. How encouraging?…

IMB
IMB
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Imperial Brands is doing absolutely fine (not that I’ve ever smoked natch)

Regular readers will know by now my views on tobacco giant Imperial Brands (IMB). Earlier this year I outlined HERE why a business with ‘brands such as JPS, West, Winstone and Davidoff plus new brands such as blu offer skills in ‘Next Generation Products’ (NGPs)’ offered turnaround value. Since then the shares have risen back to over sixteen quid, but how do I feel about the prospects for further share price appreciation and the maintenance of the current c. 8.5% dividend yield?

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AltynGold – “pleased to announce” Q1 update, we can understand why: BUY

Kazakhstan gold miner AltynGold (ALTN“is pleased to announce its 1Q21 production results and financial update”, and the shares have currently responded approaching 10% higher to 172.5p. So what’s the news?

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MRW
MRW
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Morrisons is still rudely unloved

Back in early January I observed that ‘Morrisons (MRW) is rudely unloved’. Since then the shares have done very little, but this morning’s update is another indication that the stock remains cheap – and that Morrisons is a good place to do your food shopping too.

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J Sainsbury – full-year results show there is still income value

J Sainsbury (SBRY) has announced results for its year ended 6th March 2021 and that it has “carried good underlying trading momentum into the new financial year and started the year strongly”.

CGH
CGH

Chaarat Gold – Q1 2021 “operational update”, share price catalysts imminent

Chaarat Gold (CGH) has announced a first quarter 2021 “Operational Update” emphasising it is “very happy with the performance of the Kapan team in delivering higher production”.

PEN
PEN

Pennant International – 2020 results, “much-improved” second half?

Previously writing on provider of technology-based training and support to the defence and regulated civilian sectors, Pennant International (PEN), last year with the shares down to 36p I noted its cash flow is clearly currently unsustainable and it is profitable orders conversion which is key. The company has now announced calendar year 2020 results including emphasising “a much-improved performance in the second half of the year” and “year-end order book stood at £31 million… of which £14 million of revenue… is scheduled for recognition within one year”. Why are the shares, at 38p, approaching 14% lower in response?…

Staffline – argues “well positioned to take advantage of the increasing opportunities”. Really?...

A trading update from recruitment and training group Staffline (STAF) emphasises “underlying operating profit increased 133% in Q1 2021 year-on-year… provides increased confidence in the full year”. How justified is a share price rise to around 75p?…

600 Group – a business recovery share price rise?

Previously writing on industrial engineering company The 600 Group (SIXH), I reiterated prior caution from when the shares were around 15p at around 8p. They last closed at 8.75p but are currently up to 10.75p on the back of a trading update…

Vianet Group – trading update, a strong financial position & exciting opportunities?

A full-year trading update from Vianet Group (VNET) includes that it is “very pleased to report that, notwithstanding this challenging business backdrop, trading for the period showed a slight improvement on our H1 financial performance” and “remains confident that Vianet will emerge from this global crisis in a strong financial position, enabling the group to take advantage of the exciting growth opportunities that lie ahead”. Why then are the shares down from recently above 100p to currently 98p?…

BP
BP
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BP – trading and net debt position ahead of expectations, Income Buy

An “update on progress towards net debt target”-titled announcement from BP (BP.), which includes a claim of “earlier than anticipated delivery of disposal proceeds combined with very strong business performance during the first quarter”. This sounds good…

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CCL
CCL
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Carnival keeps on hoping...and so do I!

You know some of my recent thoughts on the cruise ship company Carnival (CCL), which I bought too early in the Covid-19 crisis but doubled up more sensibly. So are we going to see a run back to a twenty quid or above share price to bring me back to profit?

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SAL
SAL

SpaceandPeople – “LandSec Contract Extension”, to recover quickly?

Manager of promotional and retail merchandising space SpaceandPeople (SAL“is delighted to announce that it has extended its commercialisation agreement with Land Securities Properties Limited for the provision of experiential activity and short-term retailing until 2026”. With the shares, at 10p, capitalising the company at £1.95 million, what’s the financial import?…

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LoopUp Group – 2020 results. Do my doubts remain?...

LoopUp Group (LOOP) is “pleased to announce” 2020 results, including emphasising revenue up 18% on the prior year to £50.2 million, EBITDA up 239% to £15.3 million and development “into a broader cloud platform for premium external and specialist communications”. So what of a current share price response 18.5% higher to 86.5p?…

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SAL
SAL

SpaceandPeople – “optimistic… will recover quickly”, so why further share price decline?...

Previously writing on manager of promotional and retail merchandising space SpaceandPeople (SAL), in December I questioned prestigious property wins significant opportunity… or ramptastic?. Today a “Trading update” including “given the level of enquiries and proposals the group is currently seeing, the board is optimistic that SpaceandPeople will recover quickly, both in terms of the group’s pre-existing portfolio of venues and the new venues added to the portfolio”. So why are the shares currently, at 9p, a further 10% lower?…

SHI
SHI
PREMIUM CONTENT

SIG remains cautious but I am not dumping my (small) shareholding

Just over a year ago I wrote an article mildly bizarrely titled ‘Only Oscar Wilde understands SIG plc’ HERE. You can read about what I trying to say, but suffice to say the (fortunately very few) shares I owned in SIG plc (SHI), the ‘leading European supplier of specialist building solutions to trade customers across the UK, France, Germany, Ireland, Poland and Benelux’, did not have a good 2020. However – in line with much of the market – the shares have at least doubled since eleven months ago. So do I move on or think about doubling up my holding?

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PDG
PDG
PREMIUM CONTENT

What a strange company is Pendragon!

I have never written before about Pendragon (PDG), which describes itself as a company which apparently is ‘revolutionising the automotive industry with its vision to transform automotive retail through digital innovation and operational excellence’. Suffice to say it has not talked about a bunch of difficult times over recent years, which took the shares down from a 25p plus share price in 2018 and early 2019 to just a 5p share price a few months into last year. So what should we be thinking now at today’s 18p share price and nearly £260 million market cap?

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LPA
LPA

LPA Group – trading warning, argues “victims of our own success”. Really?...

The AGM of LED lighting, electronic and electro-mechanical systems group LPA (LPA) was today and there is an accompanying AGM Trading Update” announcement. Should be routine-enough then… but the shares are currently at 75.5p in response, down approaching 12%!…

Hollywood Bowl – less than 3 months after emphasising “strong balance sheet”, discounted placing?...

The 14th December 2020-announced results from ten-pin bowling group Hollywood Bowl (BOWL) emphasised “strong balance sheet… liquidity of £31.8m” and included that “the directors are satisfied that the group has adequate resources to continue in operation for the foreseeable future, a period of at least 12 months from the date of this report”. It now announces “successful completion of the placing… at a price of 230 pence per placing share, raising gross proceeds of approximately £30.0 million”. Hmmm…

ENQ
ENQ
PREMIUM CONTENT

EnQuest – an oil recovery buy?

The oil price recovery continues and sector guru Peter Brailey has noted HERE that it is becoming very clear that demand is recovering back to pre-Covid levels along with production and storage decline trends. From around $67, he now sees $100 oil this year as very likely and perhaps inevitable rather than possible. And so to a geared way to play this…

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RR
RR
PREMIUM CONTENT

Do you feel lucky...Rolls-Royce?

Let’s face it 2020 was not an easy year for Rolls-Royce (RR.), meaning a big fall in its share price and it hitting the markets for £4 billion of funds (split between an equity and a bond rating). Back in August HERE, I admitted my late 2019 call was wrong (‘But if you are a long-suffering Rolls-Royce shareholder, the key conclusion is that activists – along with the rest of us – can and do get it wrong’), but what do I think now?

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TTG
TTG

TT Electronics – full-year results, still on the covid bandwagon?

Previously writing on ‘engineered electronics’ company TT Electronics (TTG), in November with the shares at 223p I questioned where now on the covid bandwagon?, concluding the valuation still looked more than high enough at that juncture. What now following 2020 results?…

KCT
KCT

Kin and Carta – interims argue “strong” balance sheet & expectations confidence, BUT...

Previously writing on digital-focused consulting, software engineering and marketing company Kin and Carta (KCT), in September I was cautious on a just over £111 million market capitalisation. That is now more than £250 million, and follows half-year results to 31st January 2021…

PREMIUM CONTENT

Don’t worry about the losses at Ibstock

Whilst my positive views on the UK’s largest brick company Ibstock (IBST) – most recently written up HERE - have been really well-rewarded over the last six months, I do have one confession to make. Yes, the company did make a loss of £20 million last year. It was clearly a very difficult year due to Covid-19 shutdowns but also Ibstock was taking on board one off costs to help evolve the business. Still, I know some investors will be feeling unhappy.

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BMS
BMS
PREMIUM CONTENT

Braemar Shipping Services – “above market expectations”… so why an approaching 10% share price fall?...

Braemar Shipping Services (BMS) has made an update commencing that “strong trading in the last two months has meant that underlying trading performance for the year ended 28 February 2021 will be above market expectations*”. So why are the shares currently below 230p, approaching 10% lower?…

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BKS
BKS

Beeks Financial Cloud – interims, meaningfully progressive financial delivery?...

Results for its half-year ended 31st December 2020 from financial markets cloud computing and connectivity group Beeks Financial Cloud (BKS) today which it “is pleased to announce”. Why therefore are the shares lower in response?…

PREMIUM CONTENT

Biffa – a Recovery buy?...

Biffa plc (BIFF) describes itself as “the UK’s leading sustainable waste management business”. This FTSE 250 company has, like many, suffered from the lockdown restrictions but previously not as significantly as it feared and there looks further recovery and growth potential ahead not discounted in the share price…

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GBG
GBG

GB Group – trading “stronger than anticipated”, but sustainable?

Identity data intelligence group GB (GBG) has made a trading update commencing that “trading has been stronger than anticipated”. With the shares currently up 4% in response, they potentially interesting?…

GHH
GHH

Gooch & Housego – “improved levels of demand”, but valuation & remuneration 'issues'?...

Gooch & Housego (GHH), a “photonic systems, components and instrumentation for applications in the Aerospace & Defence, Industrial, Life Sciences and Scientific Research sectors” company, has made a trading update noting “improved levels of demand” and “good progress streamlining our manufacturing sites”. So potentially interesting?…

PHD
PHD

Proactis – “significant” progress?, another “strategic” contract win?

Having previously concluded sceptically on the valuation of organisational spend management software and services company Proactis (PHDin November, I note the shares further higher today on trading update and “strategic contract win” announcements. So what’s the latest?…

PREMIUM CONTENT

AltynGold – “pleased to announce” Q4 production update and we can understand why, shares still cheap

Kazakhstan gold miner AltynGold (ALTN) is “pleased to announce” a fourth quarter 2020 production update – and the shares have currently responded a pleasing circa 30% higher. So what’s behind the re-rate?…

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MRW
MRW
PREMIUM CONTENT

Wm Morrison – an Income buy?...

We’ve produced an update on a positive trading statement from J Sainsbury (SBRY) but it is not the only one in its sector that, despite recent gains, looks to offer long-term income value…

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MAB
MAB
PREMIUM CONTENT

Mitchells & Butlers – “prudent to explore an equity capital raise”… or a ‘keep-the-lights-on’ necessity?

“First Quarter Trading Update” from restaurants and pubs company Mitchells & Butlers (MAB) includes that it currently has cash balances on hand of £125 million and that Chief Executive Phil Urban has “every confidence that we can emerge in a strong competitive position once the current restrictions on us are lifted”. So why a current 7% lower share price response, to around 220p?…

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CLG
CLG

Clipper Logistics – trading update; Logistics revenue +50%, Profit?...

“Trading Update” from ‘logistics, e-fulfilment and returns management services’ company Clipper Logistics (CLG) includes “November and December, revenues in its logistics business were 50.0% higher than in the corresponding period of the prior year, with strong growth in both e-commerce related activities and non e-fulfilment services”. What does a share price currently up to 600p discount?…

PREMIUM CONTENT

DS Smith – our quick gains added to on half-year results, still more to come?...

Recent recommendation packaging company DS Smith (SMDS) has announced results for its half-year ended 31st October 2020 and that there’s “growing momentum into H2”…

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UNG
UNG

Universe Group – trading update, what’s happened to the “revenue pipeline for the second half of £12.5 million”?

A trading update from retail management, payment and loyalty systems group Universe (UNG) includes “revenue for the second half of the year is expected to be in line with that of the first half… the company still expects to report a modest level of adjusted EBITDA profitability for the full year” and that it “has a strong financial position”. So why an approaching 12% share price fall, to 3.75p, on the back of the update?…

RBG
RBG
PREMIUM CONTENT

Revolution Bars – results & joins the heroic Tim Martin re. “nothing short of scandalous” government actions...

Revolution Bars Group (RBG) has announced full-year results and, in line with the heroic Tim Martin of J D Wetherspoon, hit out at “nothing short of scandalous” government actions…

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CMH
CMH

Chamberlin – main businesses weren’t performing solidly... & certainly aren’t to be now!...

Less than a month ago a “Trading Update” from castings and engineering company Chamberlin (CMH) included that ongoing orders from its machine shop’s largest contract are likely to be a fraction of the original contract, though paid-for researcher Hardman still considered “the shares offer the opportunity to invest in a highly cyclical stock”! Today a further “Trading Update”, so alarm bells ringing… and intra-day (11:55am). Uh Oh…

AltynGold – “pleased to announce” quarterly results, so why a further share price fall?...

AltynGold (ALTN) has updated on the third quarter of the year, stating that it is “pleased to announce” the results. So why has the share price response been a fall?…

DIA
DIA
PREMIUM CONTENT

Dialight – neither Mr Market or I agree with its "confidence for the future"

A trading statement today from LED lighting for industrial applications company Dialight (DIA) concludes that structural drivers position it well and give it confidence for the future. However, the shares have eased by 2% to 253.5p. That suggests that Mr Market does not wholly share that stated “confidence for the future”.

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CloudCoCo – “confident of further strategic progress”. And financial progress?!

UK provider of IT and communications services to businesses and public sector organisations, CloudCoCo (CLCO) has updated including “trading EBITDA, a key marker for demonstrating the success of the group’s recovery to date, expected to be well ahead in H2” and “cash positive in FY20” – and the shares have currently responded more than 14% higher to 1.20p, but what’s the actual detail?…

Vianet – “pleased to announce” results… or not?...

Provider of data from connected business devices, Vianet (VNET“is pleased to announce its interim results for the six months ended 30 September 2020”. The shares have currently responded to around 80p, er more than 5% lower…

PHD
PHD

Proactis – contract win “Strategic” as it sounds better than ‘not currently financially significant’?

Organisational spend management software and services company Proactis (PHD) is “pleased to announce” not just a ‘Contract Win’, but a “Strategic Contract Win”. Hmmm, ramptastic?…

PREMIUM CONTENT

DS Smith – a Recovery buy...

An early this month “Pre-close statement” from DS Smith (SMDS) included “corrugated box volumes in and throughout Q2 have returned to growth… The step-change in use of e-commerce is clearly established across our territories with very high demand from customers for e-commerce packaging as we head into the festive season”. The shares responded higher… but the current share price compares to approaching 400p early this year and, with also a dividend expected for the company’s half-year which ended 31st October 2020, there looks further recovery value here…

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CMH
CMH
PREMIUM CONTENT

Chamberlin – paid-for researcher updates: “main businesses performing solidly”. You what?!...

Yesterday on castings and engineering company Chamberlin (CMH), here I noted a massive contract loss and financial red flags fluttering. Today an announcement of research “Chamberlin (CMH): Trading update ‒ main businesses performing solidly”. You what? Hardman is ‘avin’ a giraffe is it not? 

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CMH
CMH
PREMIUM CONTENT

Chamberlin – contract loss, does it take the piss with taxpayer cash, is this Covid fraud? Cash crunch looms anyway

Previously writing on castings and engineering company Chamberlin (CMH), in February with the shares at 24p I noted financials & Premier Miton concerns. Today a “Trading Update”… and the shares at 9.5p, a further more than 15% lower on the back of it…

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IMB
IMB
PREMIUM CONTENT

Imperial Brands – resilient full year results, Income buy...

Imperial Brands (IMB) has announced results for its year ended 30th September 2020 and that, despite showing resilience, “we expect to deliver a stronger financial performance in 2021”…

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GYM
GYM
PREMIUM CONTENT

The Gym Group – “Operations and Trading Update”, And...

The Gym Group (GYM) has updated including “three-month period ongoing paying members were up 2.4% at 588,000 compared to re-opening (25 July 2020: 574,000)… has traded profitably and cash generatively” and “continues to see an opportunity to access attractive potential new sites and is building a pipeline for new openings in 2021”, but its shares have soared for another reason…

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VOD
VOD
PREMIUM CONTENT

Vodafone – forget the numbers, focus on the upcoming spin-off

Vodafone (VOD) back in the day used to be the largest company in the FTSE 100 as various markets analysts anticipated a world where we all became obsessed with our mobile phones. Today Vodafone remains a member of the larger cap index but it has got to the stage of its development that the most exciting corporate shift it can do is look to spin-off its mobile towers business…

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RBG
RBG

Revolution Bars – with government “often illogical, inappropriate and disproportionate response to the coronavirus pandemic”...

Revolution Bars Group (RBG) has updated the markets with news including that a CVA successfully approved” – and the shares have responded to 17.2p, a £21.5 million market cap, 7.5% higher…

KBT
KBT

K3 Business Technology – a “pleased to provide” trading update?...

Previously writing on business software, cloud and managed services group K3 Business Technology (KBT), just over a year ago with the shares around 150p I concluded hopefully my warning here was heeded. Still currently avoid / sell. The shares are now at 98p – but that following a rise today on a “pleased to provide” trading update…

BP
BP
PREMIUM CONTENT

BP – Q3 results, “Performance improving despite difficult environment”?...

BP (BP.) has announced its Q3 results emphasising “Performance improving despite difficult environment”…

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RBG
RBG
PREMIUM CONTENT

Revolution Bars – subsidiary launches a CVA. Has blundering Boris struck again?...

Revolution Bars (RBG) has announced that a subsidiary which operates 50 ‘Revolution’-branded bars (“the group’s Revolucion de Cuba branded bars and four Revolution branded bars operated by other entities in the group are unaffected”) has launched a CVA. Has blundering Boris struck again?…

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SHG
SHG
PREMIUM CONTENT

Shanta Gold – Q3 update, shares up on recent tip but more to come...

Shanta Gold (SHG) has updated investors on its quarterly production and operations, including emphasising it now “has a portfolio of high-quality reserves and a pathway to organically grow to a +220,000 per annum producer. At the date of this release the company’s net debt has reduced to US$2m and Shanta is on track to be unhedged by early 2021”

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PREMIUM CONTENT

Try not to laugh, Landsec is 'positioning for growth'!

Back in May I concluded that I would ‘continue to steer clear of the FTSE-100 commercial property behemoths’. That article particularly referenced Land Securities (LAND) and in the five plus months since then – despite global capital markets generally being risk-on during this period – shares in this particular commercial property play have not recovered one iota (and despite a share price that has declined by two-thirds over the last five years). Anyhow today sees the big Land Securities – or ‘Landsec’ as it now trendily calls itself – fightback plan, which the company itself tags as ‘positioning Landsec for growth’…

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SRP
SRP
PREMIUM CONTENT

Serco – bigger government, bigger profits...

Back in the day (and I mean a decade plus ago) Serco (SRP) was riding a wave of outsourcing expansion, as governments and large corporations alike looked to find ways to save money. Today, Serco describes itself as an ‘international provider of services to governments’, which sounds suitably dull. However, there is never anything dull about a double-digit percentage share price rise as seen today…

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Scapa – emphasises “track ahead of its COVID plan”… but how demanding is the plan?...

Industrial and healthcare products group Scapa (SCPA) has updated including “track ahead of its COVID plan… put the group on a solid foundation as it enters FY21 H2” – and the shares have currently responded to 132.6p, 7.5% higher…

PREMIUM CONTENT

Can the new guard at Tesco live up to hopes?

Results day at Tesco (TSCO) and a new chief executive leading the presentation of the numbers. Ken Murphy took over last week from ‘Tesco Dave’, David Lewis, the man who pulled the UK’s largest food retailer back from the brink of an accounting scandal and multiple missteps of direction. Apparently it is ‘Serving shoppers a little better every day’ and that it is able to say this is as ‘Tesco Dave’ did a pretty good job. Today’s update for the six months to the end of August noted that ‘over a million customers more loyal to Tesco…Net switching gains from Aldi for first time in over a decade…(and) Online capacity doubled in five weeks (as Covid-19 hit)’. This is far from shabby at all…

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RTN
RTN
PREMIUM CONTENT

Restaurant Group – interims argue “very encouraging” trading performance post-lockdown, BUT...

The Restaurant Group (TRG) has announced results for its half-year ended 28th June 2020, including emphasising “decisive response to COVID-19 pandemic… implemented significant restructuring actions resulting in a higher quality, diversified estate” and “trading performance post-lockdown (for the 11 weeks from July 4th to 20th September 2020) with c.90% of the retained estate now open has been very encouraging… Wagamama: Like-for-like sales growth of 11%… Leisure: LFL sales growth of 4%… Pubs: LFL sales growth of 14%” – and the shares have currently responded to above 57p, 5% higher…

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Weir Group: a nod to reality (but not opportunity)...

I do not think I have written about Weir Group (WEIR) on these pages before. After all, it is a FTSE 100 name that many investors find it easy to overlook. But the company is a not insignificant operator in the global mining, materials and energy services space – and it is the latter of these areas which grab my attention today as the company announced the ‘cash sale of the Weir Oil & Gas division to Caterpillar Inc. for an Enterprise Value of US$405m’. Admittedly, that is only a single digit percentage of the company’s enterprise value, but you can see the rationale when it notes that it will take ‘Weir pro forma Net Debt / EBITDA at 30 June 2020 of 1.9x’…

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This Five Part Engineering Giant Looks Set for a Brighter Future, Virus or No Virus

Hello, Share People. A long time ago I dumped my shares in Smiths Group (SMIN), the British engineering giant. Year after year, the shares remained largely static and I lost patience. But now the company seems set to continue a strong recovery from the virus crash. I see no obvious reason why Smiths can’t regain previous share levels and possibly go beyond them…

FUL
FUL

Fulham Shore – further updates, how’s the net debt and outlook uncertainty now?...

Franco Manca and The Real Greek restaurants company Fulham Shore (FUL“announces an update on trading ahead of the publication of its audited results for the year ended 29 March 2020 (‘FY20 Results’) and an update on the timing of publication of the FY20 Results”…

DSG
DSG

Dillistone Group – interims… & what about the previously “increasingly confident… will be transformational”?...

Dillistone Group (DSG) has announced results for the first half of 2020 emphasising “returned to profit (before acquisition related items)” and “we believe we are well positioned to deliver growth as we emerge from the current crisis”. What’s the detail from this recruitment software company?…

MBT
MBT

Mobile Tornado Group – onto the covid bandwagon, what are the financials?...

“Mobile Tornado (MBT), the leading provider of instant communication mobile solutions to the enterprise market, is pleased to announce that Hubbcat, the company’s partner in the Caribbean, has successfully deployed a COVID quarantine track and trace program, utilising the company’s PTT solution, with the Government of The Bahamas”. Onto the covid bandwagon with any financials?…

KCT
KCT

Kin and Carta – trading update, how’s the market's “need” for its digital capabilities now?...

Digital-focused consulting, software engineering and marketing company Kin and Carta (KCT) now “expect revenue and profits for the financial year to be slightly ahead of the expectations provided in our July update” and “early signs of improvement in client activity, pipeline and continued traction with our strategic partners give us confidence in the company’s future prospects”. Sounds encouraging… though, of course, it depends on what the expectations were…

PREMIUM CONTENT

Playtech – it is never simple with my tip of the year!

Back in June I observed about one of my tips of the year that ‘we might even see Playtech (PTEC) shares having a run at a year-to-date gain before the end of December rolls around’. After a huge roller coaster ride year-to-date, yesterday the share was just 10p shy of the four quid early January level. After today’s H1 numbers, the shares in the online gambling software development and financial trading company are more like 10% shy. So what is going on?…

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ClearStar – “pleased to announce” recommended offer… but how ‘pleasing’ for shareholders?...

I wrote on ClearStar (CLSU) just over a year ago with the shares at 65p, concluding I wouldn’t want to own. Now “pleased to announce… a recommended offer to be made by Hanover”…

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Brighton Pier Group – more blundering Boris impact...

A trading update from Brighton Pier Group (PIER) including “pleased with trading on the Pier, in our golf sites and the two food led bars that opened on the 4 July. At 77% of last year, it is better than expectations” – and the shares are currently at 33.5p, approaching 10% higher…

PREMIUM CONTENT

Filta Group – new agreement for which ‘no financial impact conclusions have been drawn’...so shares soar, more Corona madness...

“Filta Group Holdings PLC (FLTA), a provider of fryer management and other services to the catering and hospitality sector, is pleased to announce that it has secured an exclusive licencing agreement with NTH Solutions, a support services group wholly owned by North Tees and Hartlepool NHS Trust, to utilise its hypochlorous acid based broad-spectrum disinfectant, along with NHS accredited training, as part of the Filta Sanitation Service”… and the shares have currently responded to 107.5p, approaching 19% higher. Hmmm…

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GHH
GHH

Gooch & Housego – trading update, “remains in a good financial position”?

Photonic systems, components and instrumentation for applications in the aerospace & defence, industrial and sciences sectors company Gooch & Housego (GHH) has updated including that its “manufacturing locations in the UK, USA and China are now fully open, thanks to measures that were quickly and efficiently put in place by our site teams, minimising the disruption of the COVID-19 pandemic for our customers whilst keeping our employees safe… Trading levels in June and July reflected the recovery in the company’s manufacturing capacity and some of our larger customers’ manufacturing sites reopening… our order book remains robust”. The shares though are still not much above levels from when I previously wrote on the company in April…

WG
WG
PREMIUM CONTENT

Wood Group – a recovery buy?

Wood Group (WG.) announced half-year results including “operating profit of $65.6m (June 2019: $138.8m)…considers it prudent not to pay a 2020 interim dividend” but the shares look to be at a depressed valuation and the announcement also included “recent signs of stabilisation… expect good cash generation and a further reduction in net debt in the second half. Well placed for medium term growth as markets recover and the energy transition gathers pace”…

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RR
RR
PREMIUM CONTENT

How lucky are you feeling? The Rolls-Royce edition

In the last fifty days I have written about aerospace name Rolls-Royce (RR.) twice already before today. The first was to ask the question ‘when the money raising was coming?’ and the second was to appraise whether a selling activist shareholder was bonkers or rational. So finally – as previewed in both articles – what did the formal first half numbers say?…

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Jaywing – “well positioned to benefit as economic activity recovers”?

Marketing and consulting company specialising in data science, Jaywing (JWNG) has updated including that it “is pleased to announce that it has appointed Caroline Ackroyd as Chief Financial Officer with effect from 7th September” and “has also continued to win new business and the April to June quarter has been profitable at EBITDA level” – and the shares have currently responded lower to 2.65p…

Vianet – ahead of its forecasts… but what does that mean financially?

“Vianet Group plc (AIM: VNET), the international provider of actionable data and business insight through devices connected to its Internet of Things platform, today provides an update on trading and the group’s current status regarding COVID-19” – and the shares have currently responded up to 96.5p…

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…

GYG
GYG

GYG – half-year “expects to report increased Adjusted EBITDA”, but...

Yacht painting, supply and maintenance company GYG plc (GYG) has updated including that it “expects to report increased Adjusted EBITDA… The order book remains strong and the team are working on a number of potential leads that will further strengthen this through the second half while maintaining our keen focus on gross margin improvement” – and the shares have responded to 81p, 4.5% higher…

WG
WG
PREMIUM CONTENT

Wood Group – right on and going up!

Back in mid-June I observed that short sellers in energy services-and-more company Wood Group (WG.) should be taking their profits. The shares have moved up a little bit since, an appreciation which has been nicely supplemented today following the company’s first half results…

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As Gold Goes Up So do the Glittering Fortunes of Barrick Gold

Hello, Share Plungers. As we all know, gold prices have recently been reaching record highs as a hedge against falling GDPs and currency problems after the virus. One of the lucky miners is Barrick Gold (0R22)…

Scapa – ‘well ahead of plan’ & “trending approximately 10% ahead of market expectations”… but what do those mean financially?!...

Healthcare and industrial products group Scapa (SCPA) has updated commencing that it “has delivered FY21 Q1 revenues in the three months to 30 June 2020 well ahead of its COVID-19 scenario plan. Trading in both divisions has also continued to improve into FY21 Q2 to date” – and the shares have currently responded to 122.8p, more than 34% higher…

BP
BP
PREMIUM CONTENT

BP – results and dividend cut… we’re not surprised the shares rise…

BP (BP.) has announced second quarter and half-year results including “underlying replacement cost loss for the quarter was $6.7 billion, compared with a profit of $2.8 billion for the same period a year earlier… A dividend of 5.25 cents per share was announced for the quarter, compared to 10.5 cents per share for the previous quarter” ($2.1 billion)… and the shares have responded higher to nearer 300p…

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Card Factory – “pleased to update… exceeded our initial expectations”… but just how creditable is this?

Self-styled “the UK’s leading specialist retailer of greeting cards, dressings and gifts” Card Factory (CARD“is pleased to update the market on its trading performance and financial position” – and the shares have currently responded to above 45p, approaching 8% higher…

CPC
CPC

City Pub Group – argues “encouraging performance”, how so?...

City Pub Group (CPC), which “owns and operates a predominately freehold estate of 48 wet-led pubs in London, Southern England and Wales”, has updated including “we are pleased with our encouraging performance to date since reopening… Stand out performances have been delivered by a number of our pubs, such as the Hoste, North Norfolk, which is benefitting from a significant increase in domestic tourism” – and the shares have currently responded to 71.5p, though that less than 3% higher…

KCT
KCT

Kin and Carta – “Financing and Trading Update”, market's need for its digital capabilities?...

Self-styled “digital transformation company” Kin and Carta (KCT) has updated including “net debt expected to improve at the end of the financial year compared to the £39.5 million reported at 31 January 2020” and “the pandemic has underlined the market's need for our digital capabilities”. The shares have currently responded towards 50p, approaching 8% lower...

LoopUp – “expect to exceed market expectations”… but how sustainable?...

“Premium remote meetings” technology group LoopUp (LOOP) has updated emphasising ‘pleasing’ performance, with “the large-scale migration towards working from home associated with Covid-19”...

Filta Group – AGM trading update… after peak Corona madness?...

Filta Group (FLTA) has updated including “May turnover some 14% up on April and June a further 38% up on May” and “launch in May of our sanitisation and protect service, FiltaShield… with the number and value of customer quotations continuing to increase, we are optimistic that, as our markets in the US and UK continue to reopen over the coming weeks and months, we will see an increasing contribution from that service”. The shares have currently responded to 93.5p, more than 8% lower...

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Red Flags at Night – CentralNic Group: NED dumps £155k worth of shares... & look at the balance sheet!

Last night, at no-one-is-watching o’clock (four minutes to six pm) it was announced that Mr Samuel Dayani, a NED at AIM-listed CentralNic Group (CNIC) has been dumping shares – the best part of £155,000 worth. We are told that he still has a boat-load of the stock (11.36% of the shares) but nonetheless that’s quite a bit of cash especially when the company has recently done a 'Capital Markets event' and seen paid-for researcher Edison produce a gushing note last month. Goodness me, that was good timing!...

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VTY
VTY

This New Kid on the Building Block Could Build its Share Price After Weathering the Virus Storm

Hello, Share Searchers. Though I support most house builders in these difficult days, I’ve not covered Vistry Group (VTY) before. It’s fairly new, being formed in January following the acquisition by Bovis Homes from Galliford Try (GFRD) of Linden Homes, and I happen to think it’s got a good chance of growing its share price...

PHP
PHP

Here's Another Health Jumbo Which Should Prosper Once the Virus Recedes

Hello, Share Shifters. If you’re looking for a probable virus-proof investment, you might consider Primary Health Properties (PHP). This is a company I’ve recommended before, which provides up-to-date properties for doctors surgeries, health centres and the like. And you can imagine they are likely to be in more demand these dangerous days. The company has been expanding and its collection of medical buildings now stands at £2.5 billion.

FGP
FGP
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FirstGroup: your bus and train operator is still stopped at subsidy central

Rail and bus operator FirstGroup (FGP) may be surviving but it hardly is thriving. Personally, I have not been on a train for almost four months and - frankly - I cannot imagine jumping on one for at least another couple of months. Others will be more or less gung-ho but today's full year numbers nodded towards a similar theme. If you want to understand today's share price fall, then you have to start with 'travel volumes have reduced very substantially (still 75-90% in the UK rail and bus operations) and while guidance to limit travel and socially distance remains in place, this will have a significant impact on our service capacity and financial performance'...

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BP
BP
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BP – agreement to sell petrochemicals business, still a long-term income buy?

Shares in BP (BP.) closed the prior week heading down towards 300p but are currently back above 310p, particularly following an “agrees to sell petrochemicals business to INEOS” announcement...

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LoopUp Group – “expect to exceed revised market expectations” AGM update… but what does that mean re. the valuation?...

LoopUp Group (LOOP) has updated including that it “has continued to trade materially above pre Covid-19 levels… expect to exceed revised market expectations in terms of revenue, EBITDA and cash generation for the current financial year”. Sounds good...

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DOM
DOM
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Domino's Pizza – delivery sales more than offsetting lack of collection sales… so why the share price fall?

Leading UK and Ireland pizza group Domino's (DOM) has updated including noting “trading in the period prior to the lockdown was robust” and that since “increase in sales from delivery more than offset the lack of sales from collection” – the shares are though currently more than 7% lower, heading towards 300p. Hmmm...

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DIA
DIA

Dialight – trading statement announcement helps share price rise continue, but...

LED lighting for industrial applications company Dialight (DIA) has updated including noting “generally improving… order intake… We are starting to see early signs of project business and our MRO orders have continued to strengthen, demonstrating a significant increase in our market share… Order book is higher than we had expected” and “the ongoing conversion to industrial LED lighting”. However...

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British American Tobacco is 'resilient and growing' (just a bit less than expected)...

Vice stock time again. I know there has been a little bit of controversy between writers on this website about certain sectors, but allow me to double down on the tobacco space (as an investor naturally, I've never touched the horrible stuff personally). Tom W and I both independently have recently expressed our enthusiasm towards Imperial Brands (IMB). Reading through a pre-close update from its London-listed peer British American Tobacco (BATS) today, I did wonder if the observation that it would be maintaining its 65% payout ratio dividend was a slight dig at the decision by Imperial to cut its own shareholder remuneration. It is not all laughs at BAT though...

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Forterra – “well positioned to take advantage of the attractive long-term market fundamentals”?

Forterra (FORT) has updated including “since our announcement of 28 April 2020, we have been encouraged by a gradual increase in despatches as our customers reopened their operations” and that it “does not have any present intention to draw upon” the Covid Corporate Financing Facility for which it has been confirmed as eligible – and the shares have currently responded to 220p, 5.5% higher...

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Ibstock is not bricking it...but just telling how it is

You know I love basic, but worthy, products and have rhapsodised about the brick market before as pricing power is decent, assisted by a continuing structural demand for houses due to a rising population (don't get me started though on housebuilder profitability levels and 'help to buy' style market distortions!). However...

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MMH
MMH

Marshall Motor Holdings – “Trading and COVID-19 Update”, any encouragement?...

An “operational and financial update” from Marshall Motor Holdings (MMH), the UK automotive retailer, as “all 117 car showrooms re-opened from today as well as all of the group's other operating units, under revised, COVID-19 secure, operating procedures”...

VTC
VTC

Vitec Group – trading improvement confidence from “a robust financial position”?...

‘Image capture and content’ products designer and manufacturer Vitec Group (VTC) has updated including “all of our manufacturing sites are now operational”“trading conditions in May are starting to improve… firmly believe that Vitec's end markets will recover well once the crisis is over as the demand for original content continues to grow” and “Vitec has a robust financial position with liquidity, long-term financing and short-term flexibility”. The shares have currently responded more than 3% higher to 650p, though still comparing to more than 1000p in February...

RBG
RBG

Revolution Bars – “to emerge from this crisis in a financially stable position”?

Previously writing on Revolution Bars (RBG) I was cautious as it argued “another step closer to being well-positioned to emerge from this crisis”. It now updates arguing “decisive action will enable us to emerge from this crisis in a financially stable position”...

CWD
CWD

Countrywide – results & update, it still ‘confident in the strength of the underlying business as an independent company’?

I previously wrote on “the UK's largest integrated property services group, including the largest estate agency and lettings network”, Countrywide (CWD) in March, questioning “confident in the strength of the underlying business as an independent company”. Now results and a ‘COVID-19 update’...

Scapa – fundraising to “provide flexibility to fully realise potential opportunities”?

Developer and manufacturer of healthcare and industrial products Scapa Group (SCPA) “is pleased to announce the successful completion of the placing… we believe there are strong tailwinds emerging in our two business segments, Healthcare and Industrial, and a strengthened balance sheet will provide flexibility to fully realise potential opportunities in a post-COVID-19 environment”...

TheWorks – ‘appropriate liquidity in place’?...

Retailer of arts, crafts, toys, books and stationery TheWorks (WRKS) has updated on its year ended 26th April 2020, initially emphasising a return to positive momentum in the second half… “prior to the COVID-19 outbreak”...

Card Factory – updates including noting significant online sales growth, BUT...

“Covid 19 update” from retailer Card Factory (CARD) – and the shares currently slightly higher, around 40p...

PHD
PHD

Proactis – interims, “clear indicators that the board's strategy is working well”?

I noted yesterday shares in business spend management software and services company Proactis (PHD) bouncing on a “Reset of bank facilities” announcement, though concluded I considered the valuation still more than sufficient at this point and continue to avoid. Today half-year results – and the shares currently more than 6.5% lower towards 27p in response...

Accesso Technology – argues demand for “great majority” of customers “is likely to rebound strongly”, but...

Shares in self-styled “premier technology solutions provider to leisure, entertainment and cultural markets” Accesso Technology (ACSO) have recently recovered to around 200p, but are currently more than 10% lower, at 175p, in response to a latest business update...

AHT
AHT
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Ashtead – still a geared play on US economy Inc

Back in those fake halcyon days of early March when all of us should have been extrapolating events in China much more aggressively on a global financial markets basis, I wrote about plant equipment and tools hire company Ashtead (AHT) that 'in the run up to the November Presidential election, I would still be chilling on this one'. This was a good call in the sense that the share has not held the twenty quid level I have talked about a few times before...however let's face it, most shares are down over the last couple of months or so. Today's update from the company is bullish in one sense...

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PHD
PHD

Proactis – trading update, “confidence for the continued progression of the group”?

“COVID-19 Update & Notice of Results” announcement from Proactis (PHD) including that its business - “business spend management solution provider” - “is based primarily on a recurring revenue, long term, SaaS based contract business model which offers robustness and security in periods of short-term uncertainty and a high degree of visibility… the group has continued to trade well”. The shares have currently responded up to above 20p, but are still down from more than 50p early last month, interesting?...

WGB
WGB

Walker Greenbank – shares further recover on further Covid-19 Update...

“Notice of Full Year Results and Covid-19 Update” from interior furnishings company Walker Greenbank (WGB) – and the shares a further more than 6.5% higher to 47.75p...

Safestay – funding update, “to be well positioned to re-open as restrictions are lifted”?

Last month with the shares at 18.5p, I concluded on branded hostels company Safestay (SSTY) with the company-admitted trading uncertainty any current balance sheet uncertainty is certainly not needed. Another to possibly watchlist for future travel market recovery but certainly currently one I avoid. The shares went on to hit 10p but have been recovering and are currently further higher today, at 17.5p, on the back of a “Funding Update”

RBG
RBG

Revolution Bars – “another step closer to being well-positioned to emerge from this crisis”?

“COVID-19 and Banking Facilities update” from Revolution Bars (RBG), including “the board is pleased to announce that, subject to final documentation, Natwest has agreed to increase the facility to £30.0m” – and the shares currently at 19.5p, more than 26% higher…

DGE
DGE
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Drink up! Diageo tells you how it is out there...

You may recall that Tom and I had a conversation back in October about Diageo (DGE) and how this loved-up bond proxy captured everything that was wrong about consensus investing. Naturally, shareholders who had followed our lead and sold could buy back today at a considerable discount to the share price back then...however what I like to think we highlighted was that the cosy consensus that such global consumer behemoths were always and everywhere a core portfolio holding is far from obvious…

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GHH
GHH

Gooch & Housego – argues “remains in a good financial position with a strong balance sheet”. Does it?...

Photonic components & systems manufacturer Gooch & Housego (GHH) has updated including “areas of life sciences driving extra demand” and “in general we are now seeing improved demand from Japan, S.Korea and to an extent from China… as at 31 March 2020 our order book was at £91.7 million (31 March 2019: £93.2 million)”. The shares though remain down from more than 1400p earlier this year to below 1000p…

MDZ
MDZ

MediaZest – argues “cost cutting measures to help secure the long term future of the group”. Will they?...

Previously writing on audio-visual systems for organisations-focused MediaZest (MDZ), in December I questioned its actions “based on market conditions” as it stated or based on dire balance sheet conditions?. Now a “Trading and Covid-19 update” – and the shares down again…

Bakkavor – “responding to the impact of COVID-19 from a position of strength”. Really?!...

Provider of ‘fresh prepared’ meals, salads, desserts and pizza & bread to customers including leading retailers, Bakkavor Group (BAKK) has updated including emphasising its “attractive” sector and that “we are responding to the impact of COVID-19 from a position of strength”. However, already down from circa 140p in February, the shares are currently further below 100p on the update…

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Clean Air warning by Johnson Matthey...but I doubt even Greta is happy

If you ask me to name five 'quality' longer-term FTSE-100 constituents, then I would probably include Johnson Matthey (JMAT) on that list. Naturally though, its corporate longevity and range of typically high barrier to entry businesses (recycling and refining of precious metals, clean air and car emissions regulation focused, plus batteries and value-adding fine chemicals) has not stopped it avoiding the recent plunge. Today's update (thanks to the FCA for allowing this – you know my thoughts on the postponement / suppression of reporting) includes a profit warning, but that is par for the course, although with a bunch of cost suppression comments…

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CPC
CPC
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The City Pub Group – placing & open offer, a ‘well done’ or not?

The City Pub Group (CPC) “is pleased to announce that… it has successfully placed 30,000,000 new ordinary shares at a price of 50 pence per share, raising gross proceeds of £15 million”. Last week though it stated “the company's balance sheet is strong… is confident the company has sufficient working capital to maintain its operations for at least another six months without further capital, even in the event the Government extends its current guidance and mandates a temporary closure of all pubs and bars”. Hmmm…

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ARE
ARE

Arena Events Group – emphasises fundraising at “a 71 per cent. premium”, but…

Arena Events Group (ARE) “is pleased to announce that it has conditionally raised £9.5 million (before expenses)… at a price of 10 pence per share… a 71 per cent. premium to the VWAP of an ordinary share for the five business days preceding the date of this announcement”

WGB
WGB

Walker Greenbank – shares further down on “Covid-19 Update”...

Shares in Walker Greenbank (WGB) are down from 77.5p on my previous update last month and now from this interior furnishings company a “Covid-19 Update” which sees the shares currently towards 30p, a further approaching 10% lower on the back of the announcement…

GHH
GHH

Gooch & Housego – US legal orders impact to be “limited”… or not?...

“US Facilities Update” from optical components and systems manufacturer Gooch & Housego (GHH) includes that it anticipates that a likely COVID-19 related legal order’s impact would be “limited” on its operations in Keene, New Hampshire “given a significant proportion of the products and services provided by the facility are expected to be exempt from the scope of the order”. Shares in the company are currently at 754p – down from above 1400p in early February…

RPS
RPS

RPS Group – “COVID-19 Update”, shares slump yet further…

“COVID-19 Update” from property, energy, transport, water, defence and government services & resources professional services group RPS (RPS) – and the shares, already down from having reached 180p last month, currently a further approaching 14% down on the day towards 40p…

UP Global Sourcing – supply “now broadly normalised”, but now demand...

Previously writing on audio, heating/cooling, housewares, laundry, luggage and small domestic appliances “value-focused consumer goods” company UP Global Sourcing (UPGS), last month with the shares at around 60p I concluded I do see longer-term recovery potential from here, but the current financials and manufacturing situation see this only, for now, on the watchlist. Today a “COVID-19 update”

RBG
RBG

Revolution Bars – emphasises previous “positive momentum”, but now…

Previously writing on Revolution and Revolución de Cuba bars operator Revolution Bars Group (RBG), in October I concluded including will the still clear challenges allow the expected reduction in debt levels though?... currently continue to avoid. Today from the company a “COVID-19 Update” – and the shares currently a further more than 20% lower on the back of it, below 20p…

CPC
CPC
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The City Pub Group – ‘COVID-19 update’ including “the company's balance sheet is strong”. Is it?...

I previously wrote on The City Pub Group (CPC) in January with the shares at 197.5p, noting from the company “the Rugby World Cup did not have the impact that we expected. Political uncertainty culminating in the December Election… unhelpful weather during November and December… disruptions on South West trains… Following some delay… we also completed the refurbishments of the two former Jam Tree sites” and concluding I’d wait to see trading further playing out before being comfortable – the market cap still not far off £120 million. Tom also warned in Bearcast just yesterday – and today a “COVID-19 update”, and the shares down to 55.5p…

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Everyman Media – to closes its cinemas “until further notice”, argues “does not change the board's confidence in… proposition over the long term”...

A 12pm “COVID-19 update” from cinema group Everyman Media (EMAN) includes “trading over recent days has been impacted by COVID-19 and the delay of major movie releases” and now, “following guidance provided by the UK government yesterday, the board of Everyman has taken the decision to close its venues to guests until further notice”

DC
DC
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Retail non-shocker: Dixons Carphone sensibly says bye-bye to the Carphone Warehouse stores

It was three months ago or so when I last mused on these pages about Dixons Carphone (DC.) shares. Back then I concluded that 'they are probably still cheap (single digit earnings, 5%+ dividend yield) but I would understand if you think you will get more of a bargain in one of its stores on Boxing Day...'. Well I did not buy the shares (although I did get a great value coffee machine from one of its stores which - for what it is worth - has completely revolutionised my cup of Guatemala's finest). Anyhow today's announcement - as one of my Twitter correspondents noted - would be headline grabbing stuff at any other time…

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