Broker notes, analysis and comments
Key takeaways from Non-Standard Finance PLC (LON:NSF) results and presentation were: i) solid underlying 2019 with normalised operating profits up 20% and lower impairments to revenue; ii) £60m cash now..
ICG Enterprise Trust plc (LON:ICGT), the 39-year listed private equity (PE) investor, has delivered a total NAV return of 178% over 10 years (comparable FTSE All Share return 61%). Since..
DWF Group plc (LON:DWF) has issued a trading update showing positive momentum during the first two months of the new financial year. We are re-instating our financial forecasts assuming modest..
Independent review launched: Boohoo Group plc (LON:BOO) has announced the launch of an immediate independent review of its UK supply chain, intended to identify any areas of risk and non-compliance..
What’s new: Since 27 April 2020, when OnTheMarket plc (LON:OTMP) started offering new “welcome contracts” almost 500 estate agent branches have signed up, with each business owner receiving welcome shares..
Advanced Oncotherapy (LON:AVO) goal is to deliver an affordable and novel proton therapy (PT) system, called LIGHT, based on state-of-the-art technology developed originally at the world-renowned CERN. Over the past..
CentralNic Group (LON:CNIC) CMD gave us new positive insights into the company’s investment case. CentralNic’s organic growth is stronger than we thought, the Direct division generates high ROI, the monetisation..
Serinus Energy plc (LON:SENX) is the topic of conversation when we caught up with Arden Partners analyst Daniel Slater. Daniel you’ve just published a note on Serinus Energy regarding a..
Sumo Group plc (LON:SUMO) provided a solid update, stating that trading was “comfortably in line with market expectations”. Sumo plans to accelerate acquisitions since recruitment is expected to “remain challenging..
What’s new: OnTheMarket plc (LON:OTMP) is extending its “COVID-discount” which was due to expire on 25 July for a further 2 months to 25 September 2020. The discount will remain..
In this note, we review B-North’s core competitive advantages. We consider how the COVID-19 crisis has i) affected the competitive environment, if anything improving the long-term outlook, ii) affected operational..
Incanthera plc (NEX:INC) is a spin-out from the Institute of Cancer Therapeutics (ICT) at the University of Bradford to exploit development opportunities generated by ICT. This has provided the company..
Today’s Boohoo Group plc (LON:BOO) statement reveals incredibly robust Q1 trading across the Group’s brands and regions, with a positive outlook and guidance reinstated for the remainder of the financial..
What’s new: Tatton Asset Management plc (LON:TAM) results for the year to 31 March 2020, were as indicated by its 21 April update: “in line with analysts’ forecasts”. Highlights are:..
The latest trading update highlights that Flowtech Fluidpower plc (LON:FLO) has traded well during lockdown having been breakeven across April and May. This highlights the strength of the model and..
What’s new: OnTheMarket plc (LON:OTMP), 65% agent-owned and has almost 40% of independent UK estate and letting agents as shareholders, has released its January 2020 results revealing: + 32% rise..
Serinus Energy plc (LON:SENX) is the topic of conversation when Arden Partners Analyst Daniel Slater CFA caught up with DirectorsTalk for an exclusive interview. Q1: Serinus Energy published FY2019 results..
Anglo Asian Mining Plc (LON:AAZ) is a highly cash-generative gold miner from four mines in Azerbaijan, where it enjoys close ties to the government. We estimate current-year free cashflow and..
City of London Investment Group PLC (LON:CLIG) has announced a merger with Karpus Management Inc, a US SEC-registered investment adviser. Based in upstate New York, it is focused on wealth..
Burford Capital Limited (LON:BUR) has announced its results for 2019. As previously indicated, these were lower than in the previous year. Revenue fell 17% from $430m in 2018 to $357m...
