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.

16-08-2019 07:33:00 • minute(s) read
Author Anne Margaret Crow

Trackwise Designs (TWD); announces collaboration agreement

Consensus estimates look for £4.5m revenues in FY19

Last week Trackwise Designs announced a collaboration agreement with GKN Aerospace for the industrialisation of an ice production system. The company listed on AIM to take advantage of the IHT opportunity, investing c£1.7m so far in expanding production capacity and improving the accuracy of the imaging process used to define printed circuitry. Management expects that the current facility will provide sufficient capacity until at least the end of 2020. Net cash at end FY18 totalled £2.3m.

16-08-2019 07:14:39 • 2 minute(s) read
Author Sparks Team

Keywords Studios (KWS); announces the issuance of 254,529 new ordinary shares

The admission of the new shares to the LSE is expected to take place at 8:00am on 20 August 2019

Keywords Studios announced the issuance of 254,529 new ordinary shares to the vendors of Studio Gobo Ltd and Electric Square Ltd. This pertains to the non-contingent deferred share consideration due on the first anniversary of Gobo being acquired.

14-08-2019 09:58:00 • 1 minute(s) read
Author Christian Breitsprecher

MAX Automation (MXHN); reports strong improvement in core business EBITDA in H119

Losses from discontinued operations remain high

MAX Automation, a group of high-tech automation solution companies, reported H119 results today. Sales from continued operations were up 11.1% year-on-year to €148.2m in H119 and EBITDA from continued operations rose 25% to 14.5m.

14-08-2019 09:20:00 • 1 minute(s) read
Author Christian Breitsprecher

Leoni (LEO); Q2 results show some stabilisation after turbulent quarters

Company hopes for significant improvement in EBIT in second half

Wiring systems supplier Leoni reported a Q219 adj. EBIT loss of €26m compared to a €62m profit in Q218. Including the costs for the VALUE21 restructuring program, the stated EBIT loss amounted to €30m.

14-08-2019 08:32:00 • 1 minute(s) read
Author Christian Breitsprecher

Bauer (B5A); H119 results show revenue and earnings growth

EBIT reverses drop seen in Q119

BAUER Group, a leading provider of construction services, equipment and other products related to ground and groundwater work, reported its H119 results today. Total group revenues were €831.6m, up 5% year-on-year, and EBIT reached €35.3m, up 3.5% vs H118.

Financials & real estate
14-08-2019 07:34:41 • minute(s) read
Author Sparks Team

Duke Royalty Limited (DUKE); announces operational update

The company also reported improved terms on its debt refinancing

Duke Royalty Limited provided an operational update prior to its full-year results for FY2019. The board expects a significant boost in the results over the prior year with revenue and cashflow from operations in line with market expectations.

Investment companies
14-08-2019 07:33:19 • 1 minute(s) read
Author Sparks Team

Aberdeen Asian Income Fund (AAIF); NAV increases 13.3% in sterling terms for H1 2019

The search for defensive yield played to the portfolio's favour

Aberdeen Asian Income Fund announced its half yearly report for the six months ended 30 June 2019. Share price at the end of the period was 217.0p, representing a discount of -8.6% to the NAV per share. The company announced two dividends totalling 4.5p per share, representing an annualised dividend yield of 4.2%. Net gearing stood at 6.9%.

Investment companies
14-08-2019 07:32:46 • minute(s) read
Author Sparks Team

Ocean Wilsons Holdings (OCN); operating profit down 25%

Ocean Wilsons Holdings announced its interim management statement for the six months ending 30 June 2019. Group revenue decreased 15% to US$199.2m, whereas profit increased US$17.3m to US$34.0m, mainly due to an increase in returns from the investment portfolio and positive foreign exchange movements. Net cash inflow from operating activities was US$47.6m, while US$24.8m in dividends were paid to shareholders. The investment portfolio increased to US$278.4m after dividends paid from the portfolio of US$2.0m.

14-08-2019 07:29:03 • 1 minute(s) read
Author Sparks Team

ReNeuron Group (RENE); announces exosome collaboration with the University of Cardiff

Programme of research will be undertaken by ReNeuron and the European Cancer Stem Cell Research Institute at Cardiff University

ReNeuron Group is partnering with the University of Cardiff under a new grant-funded collaboration that will utilise its exosome-based drug delivery technology. This has been awarded under Innovate UK’s Knowledge Transfer Partnership and will fund a £250,000 collaborative research programme.

Metals & mining Insight
14-08-2019 07:11:37 • minute(s) read
Author Sparks Team

KEFI Minerals (KEFI); issued 17.5m new ordinary shares to loan providers

Shares issued as part of the conversion of working capital loan

KEFI Minerals announced the issuance and allotment of 17.5m new ordinary shares of 0.1p each to its loan provider at 0.96p per share. The shares were issued to convert £168,000 of loan notes to ordinary shares. The loan provider holds less than 3% of the company’s outstanding share capital.

14-08-2019 07:11:35 • 2 minute(s) read
Author Sparks Team

Lookers (LOOK); underlying PBT decreases 27.5%

Lookers announced its results for the six months ended 30 June 2019. Total revenue increased 2.7% to £2,646.4m. Underlying basic EPS decreased 29.5% to 6.06p, while interim dividend remained at 1.48p. The company witnessed a strong balance sheet with net debt of £73.9m.

14-08-2019 07:07:39 • minute(s) read
Author Sparks Team

Osirium Technologies (OSI); announces first contract win for Opus

The customer is a leading asset manager

Osirium announced the first contract win for its robotic process automation solution Opus, which was launched in May 2019. The customer is a leading asset manager who renewed the company’s full PxM platform for a three-year term, as announced in May.

14-08-2019 07:06:00 • minute(s) read
Author Sparks Team

SCISYS (SSY); wins contract with major European broadcaster

Contract win included in the existing market guidance

SCISYS announced that it has bagged a contract with a major European Broadcaster for newsroom software, services and training. It will provide an integrated newsroom solution for planning and rundown management.

13-08-2019 09:37:00 • 1 minute(s) read
Author Christian Breitsprecher

Leifheit (LEI); H119 EBIT falls on the back of flat revenues

Management sees company on track to meet full-year EBIT targets

Leifheit, a supplier of branded household goods, published its H119 results today. While H1 revenues remained unchanged year-on-year at €121.5m, EBIT declined by 26.5% to €5m, due to negative product sales mix and customer mix effects.

13-08-2019 08:50:00 • 1 minute(s) read
Author Christian Breitsprecher

Grammer (GMM); H119 revenue growth driven by acquisition effects

Company reiterates outlook for 2019 despite tough environment in the automotive sector

Grammar, a producer of commercial vehicle seats and automotive interior components, reported its H19 results today. Revenues were up 13.4% year-on-year to €1.05bn, helped by acquisition effects. H1 EBIT rose by 19.8% year-on-year to €50.2m, lifting the margin from 4.5% in H118 to 4.8%.

13-08-2019 07:29:07 • 2 minute(s) read
Author Sparks Team

Witan Investment Trust (WTAN); posts NAV total return of 13.5%

The company announces a second interim quarterly dividend of 1.175p per ordinary share

Witan Investment Trust announced half-year results for the period ended 30 June 2019. The NAV total return was 13.5%, 1.4% below the benchmark return of 14.9%. The share price total return was 11.7%, as the discount widened from 1.3% at the end of 2018 to 2.9% at the end of June.

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