Broker notes, analysis and comments
Primary Health Properties plc (LON:PHP) 29 July interims showed a 7.1% EPRA EPS increase, rising NAV and a continued rise in DPS. Illustrating the growth, rents rose 20.4%, and adjusted..
CentralNic Group plc (LON:CNIC) provided an H1 trading update that demonstrated strong organic revenue growth and solid EBITDA performance. The company continues to generate cash although currency movements may have..
What’s new: Rightmove interims show 6.0% YoY fall in agent branches to 15,727 (June 2019: 16,768; June 2018: 17,585): 3.5% fall YTD. Over the past two years while Rightmove lost..
RMI demand, c. 75% of Epwin Group plc (LON:EPWN) revenue, has been stronger than expected since the recommencement of operations. Extrusions revenue in June and July were up +10% yoy...
Following Inchcape plc (LON:INCH) interim results reported last week, with H1 profitability and cash generation ahead of our previously published scenario analysis, we reinstate forecasts for FY20E and beyond today...
What’s new: Purplebricks Group plc (LON:PURP) results for the year to 30 April 2020, show the Australian and US units as discontinued; but include the Canadian unit sold for C$60.5m..
What’s new: OnTheMarket plc (LON:OTMP) Chairman, Christopher Bell, is expected to make the following observations at the AGM later today: OnTheMarket had £9.4m net cash at end June 2020 (end..
Inchcape plc (LON:INCH) has delivered H1 results, which are heavily impacted by COVID-19, but are ahead of our initial modelling expectations published in our last note. The Group appears to..
What’s new: Ahead of its interims, which are due on Tuesday, 15 September, JTC (LON:JTC) pre-close trading update confirms “interim results will be in line with management expectations”, namely: Medium..
Since the recommencement of Safestyle UK plc (LON:SFE) operations in May (14th) demand has been much stronger than anticipated. For the last eight weeks order intake has grown 23.2% with..
Strix Group plc (LON:KETL) first half performance has been impacted by the supply issues in China in Q1 and the lockdown in Europe and North America during Q2. Despite this,..
GYG plc (LON:GYG) has delivered robust 2019A results following three earnings upgrades over the past year, regaining growth momentum and delivering improved margins. Despite some short-term disruption from COVID-19, the..
City of London Investment Group plc (LON:CLIG) has announced a pre-close update for FY’20. While the third quarter of the financial year was tough for markets, the final quarter saw..
To be resilient, a bank needs three things – low risk assets, strong capital and surplus deposits. Arbuthnot Banking Group plc (LON:ARBB) has all three. The low-risk assets are reflected..
Allergy Therapeutics plc (LON:AGY) is a long-established specialist in the prevention, diagnosis and treatment of allergies. Pollinex Quattro (PQ) is an ultra-short-course subcutaneous allergy immunotherapy (SCIT) platform, which continues to..
What’s new: Yesterday, Purplebricks Group plc (LON:PURP) sold their Canadian business (acquired in July 2018) for all cash proceeds of CAN $60.5m (i.e. £35m or 11p a share). Following the..
What’s new: On 13 July, at its EGM, shareholders approved City of London Investment Group plc (LON:CLIG) all share acquisition of Karpus Management Inc, “KMI”. On 14 July CLIG’s update..
The healthy liquidity position of Palace Capital plc (LON:PCA) takes risks down to a modest level, as does the overweight to regional offices and minimal shops. The Hudson Quarter mixed-development..
Vertu Motors plc (LON:VTU) has reported a strong performance for the month of June, following the reopening of all showrooms in England from 1 June and 12 Scottish showrooms reopening..
Yew Grove REIT plc (LON:YEW) invests in office and industrial assets in RoI. Tenants are creditworthy, 95% multinational or governmental; this RoI regional-income REIT invests in assets that support rising..
