Broker Notes, Comments and Analysis

Broker notes, analysis and comments

Morses Club Plc Opportunities abound

Morses Club Plc (LON:MCL) having completed a major integration, and a good FY17 management can focus on carefully controlled growth. In the Home Collect (HCC) business, management reports the expected..

Inchcape PLC Should continue to deliver value – Zeus Capital

Inchcape PLC (LON:INCH) Q1 trading update suggests a solid start to the year, with Emerging Markets delivering strong growth as the acquisition in South America integrates well with the Russian..

Alliance Pharma Plc A transformational year driving growth

Alliance Pharma Plc (LON:APH) buy-and-build strategy to evolve into a profitable, cash generative, specialty pharma business is clearly bearing fruit. Acquisition of the dermatology and woundcare products from Sinclair Pharma..

Headlam Group plc Trading remains good in the early part of the year – Zeus Capital

Headlam Group plc (LON:HEAD) in its AGM statement released this morning, confirms that trading in the first four months of the year has started well and is in line with..

Conviviality plc Positive FY17 trading update – Zeus Capital

Conviviality plc (LON:CVR) has this morning released a positive trading update for year ended 30 April 2017, with full year performance reassuringly in line with management and market expectations. Each..

Mortgage Advice Bureau has continued to grow its network of advisers

Today’s Mortgage Advice Bureau (Holdings) Plc (LON:MAB1) AGM update confirms the MAB has continued to grow its network of advisers, observing: * MAB increased its advisers to 990 on 19..

ITM Power PLC Accelerating traction at growing scale

ITM Power PLC (LON:ITM) is experiencing a significant increase in commercial orders and enquiries for its state-of-the-art, modular, electrolysis platform. Importantly, there is a clear, upward trend in average order/enquiry..

Chamberlin Plc On-track; Turbo-charging into a new growth phase

Chamberlin Plc (LON:CMH) is on track both strategically and operationally following its recent re-positioning move. The Group is developing its product offering to the automobile turbocharger industry through expansion of..

Epwin Group plc Reassuringly in line with expectations

Epwin Group plc (LON:EPWN) trading update in today’s AGM statement indicates that the business remains on course to meet FY17 expectations. FY16 results (April 6th) met expectations despite difficult end..

Oil & Gas Exploration & Production review – Zeus Capital

Pace of new investment remained subdued in April; as flat oil prices kept enthusiasm for the sector in check; even as the backlog of companies seeking – or likely to..

INTERVIEW: Accrol Group Holdings Plc- Zeus Expect Double Digit Revenue Growth

Accrol Group Holdings PLC (LON:ACRL) are the topic of conversation today when DirectorsTalk caught up with Mike Allen, Head of Research at Zeus Capital. Mike shares his thoughts on today’s..

Fulham Shore PLC Rising dough

Fulham Shore Plc (LON:FUL) proven management team is expanding both its main brands, Franco Manca and The Real Greek, ahead of expectations. FY17 saw a 55% rise in restaurants open,..

Lookers PLC Solid trading update

Lookers Plc (LON:LOOK) has released a solid trading update this morning ahead of its Capital Markets Day this afternoon, essentially confirming they are trading in line with expectations. We are..

Collagen Solutions Plc Trading update indicates earnings above forecasts

Collagen Solutions Plc (LON:COS) is a biomaterials company developing and manufacturing medical grade collagen components for use in medical devices, research, and regenerative medicine. A number of investment initiatives have..

Ceres Power Holdings Plc Developing Residential Power Systems with Partner

Ceres Power Holdings plc (LON:CWR) has today announced a new SOFC (Solid Oxide Fuel Cell) System Joint Development Agreement with one of the global OEMs in its partner portfolio. This..

Xafinity Plc A core holding with both growth and dividend attractions – Zeus Capital

This week, Xafinity Plc (LON:XAF) formally launched “DB Sense”, a “complete solution for small Defined Benefit pension schemes”, which could save an “average” £25m DB scheme £137,500 per annum. Xafinity..

Vertu Motors Plc Well set for long term growth – Zeus Capital

Vertu Motors Plc (LON:VTU) has reported another record performance for 2017A, with adjusted EPS +7% ahead of our forecast expectations. We are maintaining our cautious FY assumptions from 2018E and..

Cambria Automobiles Plc H1 PBT +5% ahead, +21.7% YOY

Cambria Automobiles Plc (LON:CAMB) delivered strong H1 results with adjusted PBT exceeding our forecast by 5.1% and delivering growth of 21.7% YOY. Softer vehicle volumes were offset by a significant..

CentralNic Group plc FY16 in line, strategy focussed on acquisitions, driving recurring earnings

FY16 results show that CentralNic Group Plc (LON:CNIC) has delivered revenue of £22.1m (+113%), adj. EBITDA of £5.5m (+68%) and adj. PBT of £4.7m (+60%), in line with market expectations..

PPHE Hotel Group Ltd – Positive 2016 Q1 Trading Statement

PPHE Hotel Group Ltd (LON:PPH) Q1 trading statement indicates a much stronger than anticipated performance, with LFL revenues up 17%, in spite of Easter falling in Q2 2017 (Q1 2016)...

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