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Breakfast News - Tyman, Immedia & Aeoroma Comms.

Breakfast News - Tyman, Immedia & Aeoroma Comms.

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*as at close of business  30 October 2018


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*A corporate client of Hybridan LLP


**  Standard Listing as defined by Hybridan LLP to be a business with strictly operational activity

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Sky has left the London Stock Exchange (Main Premium) following the takeover by Comcast


Banquet Buffet


ECO Animal Health  (LON:EAH) 376.5p £246.3m


“ECO Animal Health, a wholly owned subsidiary of ECO Animal Health Group plc, and Pharmgate LLC of Wilmington, North Carolina, USA announced that the scope of their new joint venture established in April 2018, ECO-Pharm Limited, based in the Republic of Ireland has now been extended.


ECO-Pharm Limited will now be responsible for the registration, marketing, sale and distribution of a number of Pharmgate LLC swine vaccine products in the United Kingdom, the European Union and the Commonwealth of Independent States, Japan and Brazil. It is expected that further vaccine products will flow from our biologicals research and development pipeline.”


“This is an important milestone in the development of ECO-Pharm Limited. Swine vaccines account for half the animal health market for this species in Japan and almost a quarter of this market in Brazil.”


FY 2019E revs of £75.9m and EBITDA of £21.1m


 88 Energy (ASX:88E) 1.25p £63.54m


Update related to ongoing work on its conventional prospect portfolio at Project Icewine, located on the Central North Slope, Alaska.


Yukon Leases Maiden Resource: Net Mean Prospective Oil Resource - 90 MMBO


Cascade lead upgraded to prospect - Brookian Turbidite Fan Play


Additional prospectivity mapped within Staines Tongue Topset Play


Project Icewine Net Mean Prospective Oil Resource - 2,211 MMBO


Farm-out process continues as planned, with deal targeted prior to year-end 2018


Western Blocks Net Mean Prospective Oil Resource - 144 MMBO


Stacked Brookian objectives including Nanushuk Topset Play


The Winx-1 well is on schedule to commence drilling in February 2019


88 Energy Total Conventional Net Mean Prospective Oil Resource - 2,445 MMBO


Botswana Diamonds (LON:BOD) 0.9p £4.33m


Update on the Company's development plan for the Thorny River project in South Africa.


A mining contract has been concluded with Palaeo Minerals Pty Limited covering both bulk sampling activities and future full-scale mining.


The Contract will enable the Company to self-fund the Thorny River project from bulk sampling through to mine development, assuming positive results.


Indicated net royalties could be between US$2 to $7m annually based on current estimates.


The necessary regulatory approvals have been applied for.


Drill programme planned in 2019.


Sportech (LON:SPO) 44.6p £100.85m


FYDec18 update from international betting technology business.


“Following the reduction in Group size as a result of the sale of assets and subsequent shareholder distributions in 2017, key sales contracts now have a more significant impact on Group performance indicators. The Group now anticipates that certain expected sales contracts are unlikely to be secured in 2018 and therefore forecast Adjusted EBITDA, excluding Sports Betting investments, for 2018 will likely be 5% to 10% lower than the current market expectation of £8.5m. The latest forecast, however, would represent year on year Adjusted EBITDA growth of between 14% to 20%.”


The Group continues to work proactively with existing B2B clients across the US and with the state of Connecticut to extend the Group's existing pari-mutuel licence to conduct sports betting as a licensed "direct to consumer" operator.  The decision by the State is anticipated to be in 2019, when the legislative session resumes.


Benchmark Holdings (LON:BMK) 62.8p £337.2m


The aquaculture health, genetics and specialist nutrition business, is pleased to provide the following trading update for the year ended 30 Sept 2018.


Significant growth in revenues and underlying profit ahead of market expectations:


Revenues above £150m (unaudited) (2017: £140.2m), a growth of c.7%


Adjusted EBITDA above £16.5m (2017: £10.0m), a growth of 65%


Company compiled consensus of revenues of £156m and EBITDA of £15.8m


“Market conditions in our core salmon and shrimp markets remain favourable and the outlook is positive, with strong demographic and sustainability drivers, and an increasing trend towards professionalisation and consolidation amongst customers. This, combined with an increasing recognition of the role that our innovative products can play in boosting yield, quality and sustainability, provides us with confidence in the future outlook.”


FY2018E revs of £155m and EBITDA of £15.5m


Best of The Best (LON:BOTB) 236p £22.4m


“The online organiser of weekly competitions to win cars and other lifestyle prizes, announced that trading for the six months ended 31 Oct 2018 has been encouraging, with revenues and profits before tax generated tracking ahead of market expectations for the current financial year. Revenues are now almost entirely attributable to online sales, with only one physical site remaining at Birmingham Airport.


The Company is pleased to have been able to deliver a solid performance in the first half of the financial year, despite absorbing the burden of increased taxes as a result of the requirement to move from VAT to paying Remote Gaming Duty (RGD) in 2017. The Board notes, however, that as announced in the recent Budget, RGD is due to increase to from 15 to 21% from 1 Oct 2019. The Board will be taking steps to minimise the impact of this tax increase and will aim to maintain margins and profit growth over subsequent reporting periods.”


FY2019E revs of £13.5m and EBITDA of £1.6m


Aeorema Comms (LON:AEO) 27p £2.35m


FYJun18 results from the live events agency.


Revenues of £4.8m, a year-on-year increase of 16% (2017: £4.16m)


Profit before exceptional items of £0.29m, a year-on-year increase of 17% (2017: £0.25m)


Maintained strong cash position with £1.43m in the bank


Proposed final dividend payment of 0.75p (2017: 0.5p)


“Looking forward to the financial year ended 30 June 2019 and beyond the outlook is very positive. The strength of the new team has led to an excellent series of new business gains since the year end with both existing and new clients. These gains include a major new client in the technology sector and a new global brand within the media sector. The Group continues to win new film production projects and the appointment of Julian Staveley as Experiential Director is also proving successful, with the Group recently winning a roadshow event for a global electronics company.”


Immedia (LON:IME) 28.5p £3.42m


"Major Service Contract Extension"


“The Board announced that Immedia has formally signed a three-year contract with a major UK high street financial institution.


The contract, which was the subject of releases by Immedia to the market in March 2017, April 2018 and July 2018, relates to the delivery of live audio stream to all of the institution's consumer retail estate in the UK.


Although at this stage the Company is restricted from disclosing any further information, the Board is delighted with the progress of this partnership and will keep shareholders updated as the project progresses.”

Tyman (LON:TYMN) 284p £538.66m


The  international supplier of engineered components to the door and window industry, issued a trading update for the period from 30 June 2018 to date. “Revenue and Underlying Operating Profit for the full year for Tyman are expected to be ahead of 2017, with Underlying Operating Profit in line with current market expectations. Free cash flow in the year to date is significantly ahead of 2017.


The Group's 2018 performance to date has been assisted by strong contributions from the acquisitions of Ashland and Zoo Hardware. Factors offsetting reported performance include slightly less favourable US Dollar translation exchange rates compared with 2017 and relatively significant input cost inflation across most markets.


The market outlook in North America and Continental Europe remains generally positive and the Group expects to make further progress in 2019.


As at 6 Nov 2018 the range of analyst estimates compiled by the Group from published research notes for Underlying Operating Profit for the 2018 financial year is between £81.9m and £87.3m (2017 Actual: £76.8m).”


Ilika (LON:IKA) 18p £18.13m


“The advanced solid-state battery technology and materials innovation company, announces it has achieved the highest energy density to date for its Stereaxâ thin film solid state cells.


Since Dec 2016, Ilika has been collaborating with Lightricity Ltd, the ex-Sharp Laboratories of Europe, for the development of an ultra-thin, perpetual IoT power pack combining Lightricity's photovoltaic cells and Ilika's solid state battery technology. During this project, Ilika has optimised the architecture, materials and patterning techniques to yield a battery with improved energy density. The latest batch of prototypes has yielded an energy density more than 3 times that of Ilika's current Stereaxâ M250, with a similar footprint. The capacity of the batteries approaches 1 mAh when cycled at the C/4 cycling rate relevant for the use case, which is a record for Stereax®.”

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