Edison Sparks - Morning News

Through Sparks, we give you first-impression commentary on breaking news from Edison clients and their peers. Sign up to our daily email for an overview of the key stories in the market today.

13 hours ago • 1 minute(s) read
Author Sparks Team

Serco Group (SRP); 2018 reported operating profit up 282% at £80.5m

Positive free cash flow after 3 years was £25m

For the year ended 31 December 2018, despite a 4% year-on-year fall in revenue in terms of reported currency, underlying diluted EPS witnessed a 55% increase from 3.36p in 2017, to 5.21p. Revenue at constant currency declined 5.6% in H1 but grew 2.5% in H2.

13 hours ago • minute(s) read
Author Paul Hickman

McBride (MCB); post profit warning 24 hours before its results announcement

It is understandable that McBride wanted the shock of its current year downgrade to dealt with ahead of today’s interim results

Having structured a “repair, prepare and grow” plan since 2016, its understandable that McBride wanted the shock of its current year downgrade to dealt with ahead of today’s interim results. Yet a profit warning 24 hours before a results announcement is an unusual, and some would think, absurd way of getting the bad news onto the table. It is untimely during the main phase of the “Growth” period scheduled to end in Q419.

13 hours ago • minute(s) read
Author Sparks Team

Premier Technical Services Group (PTSG); denies knowledge of reason for recent share price movements

Net bank debt was £11.9m as of December 2018 compared with £18.3m in 2017

PTSG has released a statement noting the share price movement in recent weeks, but denying any knowledge of why the movement occurred. The final results, expected on 26 March 2019 are anticipated in line with the board’s expectations.

13 hours ago • 2 minute(s) read
Author Sparks Team

Keywords Studios (KWS); acquires Dutch-based cloud-based software platform GetSocial

GetSocial is expected to become profitable in 2020

Keywords announced the acquisition of GetSocial B.V. GetSocial is a cloud-based software platform that provides a comprehensive suite of functions, enabling game developers to manage all social interactions between their games, players and friends’ network.

Investment companies
13 hours ago • 2 minute(s) read
Author Sparks Team

European Assets Trust (EAT); UK High Court approves migration from the Netherlands

The migration is expected to become effective on 16 March 2019

European Assets Trust declared that the UK High Court agreed a migration from the Netherlands to the UK. This will result in the absorption of European Assets Trust N.V entire portfolio by EAT PLC, with shareholders entitled to receive one ordinary share in EAT PLC in exchange for each share held in European Assets Trust N.V (EAT N.V).

19-02-2019 08:46:10 • 3 minute(s) read
Author Sparks Team

1Spatial (SPA); announces amendment to Enables IT Disposal Agreement

Post amendment, the exercise price has been brought down to £20,000

1Spatial has announced an amendment relating to the disposal of 80.1% of the issued share capital of Enables IT Group Limited to Champall Consultancy Limited. As per the original agreement, Champall was granted an option to buy the remaining 19.9% interest for an exercise price of £100,000.

Metals & mining
13-02-2019 08:23:48 • minute(s) read
Author Sparks Team

Pan African Resources (PAF); H1 2019 EPS from combined operations expected to be higher

Expected HEPS range is 0.38p to 0.40p per share

For the six-month reporting period ended 31 December 2018, EPS from the group’s combined operations, in GBP terms, is expected to be in the range of 0.38p to 0.40p per share against 0.18p for the corresponding period last year.

06-02-2019 08:45:24 • 2 minute(s) read
Author Sparks Team

OnTheMarket (OTMP); traffic exceeds 23.5m visits on their portal

Growth in property stock and visits together produce record levels of leads for the company’s estate and lettings agent customers

OnTheMarket announced that traffic at its portal in January exceeded 23.5m visits (a new monthly record). The company displayed over 600,000 UK residential property listings. Its UK property stock is already over 80% of Zoopla’s and ~60% of Rightmove’s as of 31 January 2019.

Metals & mining
06-02-2019 08:35:57 • 1 minute(s) read
Author Sparks Team

Amur Minerals (AMC); two of the three QAQC steps to validate Master Data Set completed

ASL results have indicated that the sample is devoid of cross sample contamination or any analytical drift

The steps completed include the acquisition of the original result for each interval sampled and verification that Alex Stewart Laboratory (ASL) can consistently replicate its results internally.

06-02-2019 08:25:23 • 2 minute(s) read
Author Sparks Team

Stride Gaming (STR); trading performance since the start of the year in line with expectations

The group is clearly focussed on winning and retaining mass market recreational customers

Stride Gaming will conduct its Annual General Meeting (AGM) at 9.30am today, where Nigel Payne, the company’s non-executive chairman, will announce the group’s trading performance since the beginning of the financial year. She will say trading has been broadly in line with expectations despite continuous challenging trading conditions.

05-02-2019 09:41:51 • 1 minute(s) read
Author Sparks Team

Indivior (INDV); appeal against lifting an injunction that allows generic competitor denied

The company intends to file an emergency motion with the US Court of Appeals for the Federal Circuit

Pharmaceuticals group Indivior has announced that a US court has denied its appeal against the lifting of an injunction that allows rival Dr Reddy’s Laboratories to launch a generic competitor to suboxone film, its top-selling treatment for opioid addiction.

05-02-2019 08:34:49 • 2 minute(s) read
Author Paul Hickman

Ocado Group (OCDO); reports healthy revenue growth of 12.3%

EBITDA declined £15.5m to £59.5m as a result of the costs of developing the Ocado Smart Platform

The fact that an M&S deal wasn’t announced with Ocado’s results doesn’t mean that it isn’t happening. Management says it is “continuing to engage” with multiple retailers in a variety of markets with a view to adding more partnerships to its platform, which could include Marks. Equally, Ocado is stressing that its own ambitions run much wider.

Financials & real estate
05-02-2019 08:24:36 • 1 minute(s) read
Author Sparks Team

Numis Corporation (NUM); reports marginal loss in trading book for first four months of the FY

The company t expects a significant increase in revenue with regard to the UK macroeconomic and political landscape.

Performance of the Corporate Broking & Advisory division was in line with H2 last year, but below the comparative period, whereas average deal fees remained in line with the previous year. Deals transaction volumes and institutional income were both nearly 25% lower than the previous year.

04-02-2019 10:09:31 • 1 minute(s) read
Author Sparks Team

Ryanair (RYA); announces third quarter underlying pre-tax loss of 22.1m

The news comes two weeks after Ryanair cut its full-year profit forecast for the second time

Low-cost airline Ryanair Holdings has announced a third-quarter underlying pre-tax loss of €22.1m and warned that it does not expect fares to rise this summer. The loss, which excludes €61.5m of exceptional charges at its Lauda operations, compares to group profits of €113m in the same period a year earlier. Revenues increased by 9% over the period, to €1.53bn, as passenger numbers advanced by 8% to 33m.

04-02-2019 09:04:30 • 1 minute(s) read
Author Sparks Team

Circassia Pharma (CIR); FDA Pre-submission meeting for Novel Nitric Oxide Product AirNOvent complete

Circassia had acquired the exclusive commercialisation rights for the ventilator-compatible nitric oxide product AirNOvent in USA and China from AIT Therapeutics in January 2019.

04-02-2019 08:24:14 • 2 minute(s) read
Author Sparks Team

Serco Group (SRP); signs £560m contract with Bupa

Full operational service under the new contract will start on 1 July 2019.

Serco has announced that it has signed a £560m contract with Bupa Health Services Pty to support the Australian Defence Force through the provision of National Garrison Health Services (NGHS). The contract has an initial term of six years and up to four, one-year extensions.

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