Broker Notes, Comments and Analysis

Broker notes, analysis and comments

Neodecortech Well placed for 2020

Neodecortech (NDT) performed well in 2019, in our view, against a difficult economic backdrop with trading picking up in 2H after a tricky 1H. The immediate outlook for 2020 remains..

Advanced Oncotherapy Confidence in LIGHT gaining momentum

The Advanced Oncotherapy PLC (LON:AVO) goal is to deliver an affordable and novel proton beam therapy (PBT) system, based on state-of-the-art technology developed originally at the world-renowned CERN. In the..

Chamberlin Plc Near-term trading subdued

The recent trading update revealed sustained challenging markets. Chamberlin (LON:CMH), however, is still on track strategically, and the group continues to develop its product offering most favourably. The group has..

City of London Investment Group “rise in FUM in January suggests upside to FY20 forecasts” says Zeus Capital

What’s new: City of London Investment Group (LON:CLIG) has published its interim results for the 6 months to 31 December 2019, which are in line with the detailed trading update released..

International Lithium Corp Resource upgrade and happy strategic dilemma

The new resource estimate for the Mariana lithium brine deposit in Argentina transforms its potential into a world-class project in which International Lithium Corp (CVE:ILC) has a 13.7% share (and..

CentralNic Group Updating forecasts (Zeus Capital)

CentralNic Group PLC (LON:CNIC) have released a positive trading update this morning, confirming trading for 2019 to be in line with expectations. We update forecasts to reflect the successful completion..

Tissue Regenix Restructured to satisfy product demand

Tissue Regenix Group (LON:TRX) has a broad portfolio of regenerative medicine products for the biosurgery, orthopaedics, dental and cardiac markets. It has two proprietary decellularisation technology platforms for repair of..

Vertu Motors Systems capability teach in (Zeus Capital)

We had the opportunity to look at Vertu Motors (LON:VTU) bespoke systems capability, which have been built from scratch and evolved since inception of the Group in 2006. We believe..

Volta Finance Follow the money

In this note, we remind investors of Volta Finance (LON:VTA) attractions and risks, focus on how it generates the cash to pay the dividend, and look at some of the..

DWF Group Capital Markets Day

DWF Group (LON:DWF) hosted a Capital Markets Day yesterday, focused on two of its growth engines; its Managed Services proposition and its International growth strategy. We believe Managed Services is..

GYG PLC Transformational year secured

GYG (LON:GYG) has released a full year trading update confirming that it has traded comfortably ahead of our forecast expectations to 2019E. This proved to be a transformational year for..

DWF Group Acquisition of Mindcrest Inc

DWF Group (LON:DWF) is to acquire leading legal and managed services business Mindcrest Inc. The deal is expected to deliver ‘significant synergies’ within its existing business and provides a platform..

SimplyBiz Group “Update confirms EBITDA growth” says Zeus Capital

What’s new: SimplyBiz Group (LON:SBIZ) has released a trading update, ahead of reporting its full year results on 10 March 2020, which confirms that trading is broadly in line with..

Shield Therapeutics Plc Good demand for Feraccru in Europe

Shield Therapeutics (LON:STX) is a commercial-stage company delivering specialty products that address patients’ unmet medical needs, with an initial focus on treating iron deficiency (ID) with ferric maltol. Recent news..

Safestyle UK “FY19 shows material progress with market share and revenue returning strongly”

Confidence improving with marketing spend increasing back to commercial levels Safestyle UK (LON:SFE) is steadily getting back to where it was pre 2017. The management team has only been in..

Strix Group “Another good performance despite the macro backdrop” says Zeus Capital

Since listing in Aug 2017, Strix Group (LON:KETL) has consistently highlighted the resilience of its business through its ability to hit forecasts despite the uncertainty of trade wars, Brexit and..

Epwin Group “robust performance despite a difficult H2 for the industry”

Zeus Capital FY19 forecasts were compiled in December 2018 and assumed that cost input pressures would abate, Epwin Group (LON:EPWN) would win market share and the underlying trading environment would..

JTC Group “positive tone” to trading update says Zeus Capital

What’s new: JTC Group (LON:JTC) trading update confirms that full year results on 1 April will show “revenue was “within the range of analyst expectations, with organic growth within the..

Cambria Automobiles acquire Aston Martin and Rolls-Royce dealerships

Cambria Automobiles (LON:CAMB) has announced this morning the successful acquisition of one Aston Martin franchise and one Rolls-Royce Motor Cars franchise in Edinburgh from the administrator of Leven Cars Group..

DWF Group “management delivering ahead of expectation” says Zeus Capital

In this note we reiterate our investment case for DWF Group (LON:DWF), built on multiple drivers of profitable growth including a significant amount of latent capacity existing within new partner..

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