Broker notes, analysis and comments
Coming just a month after the release of the interim results (24th September) today’s Q3 trading statement does not contain any surprises. Organic revenue growth has slowed since June but remains..
We update our forecasts to reflect a number of asset disposals completed by the group in 2019 so far. The group has continued to streamline the business and focus on..
What’s new: OnTheMarket’s interims provide evidence of progress to delivering better-than-peer cost per advertiser (i.e. ARPA), service and marketing yield (i.e. leads per £100 spend). Highlights include: § Average branch numbers rose..
Phoenix Copper Ltd (LON: PXC) achieved a further milestone in its strategy for a staged development of the potentially world-class Empire copper mine in mining-friendly Idaho, US. The new economic..
Burford Capital (LON: BUR) has announced its interim results for 1H’19 and has produced another excellent set of figures. After stripping out third-party interests, revenue was up 40% to $287m..
Gateley plc (LON: GTLY) reported another strong set of results, again beating market expectations, underlining its consistency and predictable performance. A broad-based, legal and professional services group, Gateley is a..
The 17 July 1H’19 results showed the further progress made in profitably deploying the capital Arbuthnot Banking Group (LON: ARBB) generated from the partial sales of its stake in STB...
The important information from Koovs’ FY19 results is not the results for the year but the trading since the company secured its additional financing. With Gross Order Value (GOV) up..
City of London Investment Group (LON: CLIG) has announced its pre-close trading update for FY2019. After a volatile fourth quarter, FUM finished ahead of the end-March figure, at $5.39bn. This..
Redx Pharma plc (LON: REDX) is a clinical-stage R&D company focused on drugs targeting oncology and fibrotic disease. 2018 was a year that reset the benchmarks – new management team,..
Burford Capital (LON: BUR) has made a double announcement about the Petersen case. Argentina had appealed to the US Supreme Court over the decision about where the case will be..
Oxford BioMedica (OXB) is a specialist, advanced therapy, viral-vector biopharma company. It offers vector manufacturing and development services, while developing proprietary drug candidates, with its LentiVector® platform. 2018 saw significant..
On 3 July, Arbuthnot Banking Group (LON: ARBB) announced the acquisition of two mortgage portfolios for £258m (£6m discount to book value). The overall yield on the portfolios is 3.6%,..
Serge Demay, from Fund Manager AXA IM, gave an investor presentation at the Hardman & Co 17 June 2019 Forum (video https://www.hardmanandco.com/june-investor-forum/). We produced a short note for this event,..
The Control Micro Systems Inc (CMS) acquisition (US) is strategically attractive. Trading remains good, with a healthy and improved order book, and growth enhanced by new product launches and new..
Allergy Therapeutics plc (LON: AGY) is a long-established specialist in the prevention, diagnosis and treatment of allergies. The Pollinex Quattro (PQ) platform, an ultra-short-course subcutaneous allergy immunotherapy (SCIT), continues to..
Oxford BioMedica (LON: OXB) is a specialist, advanced therapy, viral-vector biopharma company. It offers vector manufacturing and development services, while developing proprietary drug candidates, with its LentiVector® platform. 2018 saw..
Tissue Regenix plc (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..
While there has been deafening noise around the lapsed Provident Financial (PFG) bid, the fundamental outlook for Non-Standard Finance (LON: NSF) is unchanged. It still has the market-leading network in..
A regulated exchange like no other. This is the first and only regulated securities exchange – anywhere in the world – dedicated entirely to real estate. It will be the..
