Proactive Investors - Run By Investors For Investors

Breakfast News - Majestic Wine, Proton Power Systems, Science in Sport and more...

Breakfast News - Majestic Wine, Proton Power Systems, Science in Sport and more...

Set menu




Total number of AIM Companies (Incl Susp):




Total number of AIM Companies trading:




*as at close of business  07 January 2019


Standard List**  of Main Market:


Total number of Standard List Companies


(Incl Susp):




Total number of Standard List Companies trading:




*as at close of business 07 January 2019


NEX Growth Market:


Total number of NEX Growth Market Companies (Incl Susp):




Total number of NEX Growth Market Companies trading:




*as at close of business 07 January 2019


 *A corporate client of Hybridan LLP


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


Dish of the day


No Joiners today


Off the menu      


No Leavers Today


What’s cooking in the IPO kitchen?


Main Market (Specialist Funds)


The Global Sustainability Trust -aiming for attractive risk-adjusted returns by investing primarily in private market investments that are expected to have a positive environmental and social impact raising c.£200m. Due 31 Jan 2019.




Circassia Pharma (LON:CIR) - specialty pharmaceutical company focused on respiratory disease transferring from the Main Market. No funds being raised. Due 4 Feb.


Greenfields Petroleum (TSX-V:GNF)  production focused company with operated assets in Azerbaijan seeking AIM dual listing including $60m private placement. Mkt cap $12.6m CAD. Expected late January 2019.


Banquet Buffet


Mincon Group (LON:MCON) 108.5p £228.4m


The Irish engineering group specialising in the design, manufacture, sale and servicing of rock drilling tools and associated products, advises that it has contracted to acquire the share capital of Pacific Bit of Canada Inc.


A long established and successful business, Pacific Bit distributes mainly mining and construction products in Western Canada. Sales in 2018 were c. C$5.5m and the business was profitable.


The consideration was not disclosed.


Central Asia Metals (LON:CAML) 221p £388.9m


Q4 and FY 2018 operations update.


Production guidance met for copper, zinc and lead


2018 Kounrad


Copper produced, 14,049 tonnes


2018 Sasa


Zinc in concentrate produced, 22,532 tonnes


Lead in concentrate produced, 29,388 tonnes


Diamond drilling exploration programme completed with updated mineral resource estimate expected in Q1 2019


2019 production guidance


Copper, 12,500 to 13,500 tonnes


Zinc in concentrate, 22,000 to 24,000 tonnes


Lead in concentrate, 28,000 to 30,000 tonnes


Cash in the bank on 31 Dec 2018, $39m


MP Evans Group (LON:MPE) 644p £352m


2018 crop and production update from the producer of Indonesian palm oil.


Total Crop of fresh fruit bunches  up 27% to 829,100 tonnes including 573k of own crop.


Total crude palm oil production up 25% to 192,500 tonnes.


Palm kernel production up 30% to 43,500 tonnes.


FY Dec 18E rev $84.6m and PBT $17.4m. Div c.3%.


President Energy (LON:PPC) 9.55p £98.7m


The “upstream oil and gas company with a diverse portfolio of production and exploration assets focused primarily in Argentina, provides an update relating to Group net production as well as its Concessions in the Rio Negro Province, Argentina (President 90% and operator - Edhipsa 10%).” It has beaten its 3,000 boepd target for net Group production exit year end 2018.


The Company is producing at a net Group level of approximately 3,300 boepd.  This represents an increase of over 50% year on year and is being achieved without the benefit of any contribution from the Las Bases Concession and with only a limited contribution from the Puesto Prado and Estancia Vieja fields, all in Rio Negro Province, Argentina.  Commercial gas sales from the Las Bases and Estancia Vieja Concessions are expected to commence by the end of Q1 2019. Preparation and planning of the next drilling campaign in Argentina due to commence in Q2 ramping up into H2 as well as long lead planning for 2019 exploration in Paraguay 


Majestic Wine (LON:WINE) 250p £180m


Majestic Wine announced its scheduled Christmas trading update for the 10-week period ending 31 Dec 2018, reporting an increase in both Group sales and gross margin. Group sales growth accelerated to 6.8% (6.3% on an underlying basis) compared to the same period last year (3.2% and 4.1% underlying), and the group trading gross margin increased by 0.4%, led by strong performance in Naked Wines  together with a solid performance from Majestic Retail  despite the challenging market backdrop. The Group delivers c.30% of total annual sales during the Christmas trading period.


FY Mar19E Rev £506.75m and PBT £9.74m.


Proton Power Systems (LON:PPS) 6.6p £40.95m


The designer, developer and producer of fuel cells and fuel cell electric hybrid systems, has signed a joint venture agreement to establish Clean Logistics GmbH, a company registered in Germany, which has the objective of building heavy duty trucks purely run on fuel cell hybrid systems, using hydrogen fuel cells in the range of 75 - 150KW.


Proton owns 33.33% of the share capital of Clean Logistics, together with its joint venture partners Höpen GmbH (33.33%), a private holding with participations into the battery company INVENOX GmbH and electric vehicle development company E-Cap Mobility GmbH (a company which specialises in the conversion of combustion vehicles into electric vehicles), and Hary AG (33.33%), a modular transport service provider.


The Joint Venture applied for financial aid from the federal programmes of alternative fuels and clean transportation to take the Joint Venture through its prototype development stage during 2019 and is seeking additional funding to be used to support orders of up to 1,000 vehicles by the end of 2021.


Science in Sport (LON:SIS) 54.5p £65.25m


FY Dec18 update from UK-headquartered market-leading endurance sports nutrition company that develops, manufactures and markets sports nutrition products for elite athletes and sports enthusiasts.


Group sales of £21.3m (2017: £15.6m), including a 25-day contribution of £1.5m from PhD Nutrition following acquisition completion on 6 Dec.


Underlying SiS sales growth of 27% to £19.8m (2017: £15.6m), with second half growth accelerating to 34% for SiS, following first half investment in growth initiatives.


Strong SiS online sales growth of 29% to £11.2m underpinned by, which grew sales at 40% to £6.4m following significant investment in a new e-commerce platform launched in March.


The final results for the year are expected to be in line with market expectations .


In Dec, SIS acquired the premium performance nutrition brand, PhD Nutrition, for £32m. The transformational deal doubles the size of the Company, extends its product range, and enhances its international presence.


Sosander (LON:SOS.L) 34p £37.18m


Trading update for the three months ended Dec 2018.


Momentum has continued throughout autumn and into winter as the Company experienced a record quarter for revenue, orders, site visits and conversion. Revenue for the period was slightly ahead of  expectations at £1.6m, a 219% increase on the same period in 2017 and higher than the Company's revenue for the entire prior financial year.


Customer database increased 209% to nearly 100,000


Conversion rate increased 129bps to 3.47%


Average order value increased 10% to £105.58


Repeat orders increased 527% to over 20,000


The growing customer base and economies of scale in the business are creating efficiencies with EBITDA loss down on prior year .


Strong balance sheet with net cash of £4.6m as at 31 Dec 2018.


Universe Group (LON:UNG) 4.15p £9.06m


The   developer and supplier of p­oint of sale, payment and lo­yalty systems, announced it has commenced a roll-out with major new customer Euro Garages Ltd to provide Gempay 3 payment terminals and payment processing services to 370 petrol forecourts in the UK.


EG Group is a leading petrol forecourt retail convenience operator who has established partnerships with global brands such as ESSO, BP, Shell, Carrefour, Louis Delhaize, SPAR, Starbucks, Burger King, KFC, Greggs and Subway. The business has an established pedigree of delivering a world class fuel, convenience and food-to-go offer, operating over 4,700 retail sites in Europe and the USA.


Remote Monitored Systems (LON:RMS) 0.97p £2.91m


The survey, inspection and monitoring company,  provided an update on progress in the year ended 31 December 2018.  Geocurve Limited which provides Survey and Inspection services to a range of major blue-chip companies and government agencies, achieved revenues for the year of £1m, an increase of 57% compared with 2017 and three times the turnover in 2016.  GyroMetric Systems Limited in which the Company made an initial 37% investment in April 2018 and acquired a 58% controlling interest in Aug 2018, continued to increase sales of its active protection system to protect large marine drives however these remain modest. During the year Gyrometric completed successful trials of its Incremental Motion Encoder at the world's newest and most powerful offshore wind turbine drive train test facility at the Offshore Renewable Energy Catapult at Blyth.  

This document, which does not constitute research, has been issued by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment objectives, financial situation or needs of any specific entity and is not a personal recommendation to anyone. Recipients should make their own investment decisions based upon their own financial objectives and financial resources and, if any doubt, should seek advice from an investment advisor.

The information contained in this document is based on materials and sources that are believed to be reliable; however, they have not been independently verified and are not guaranteed as being accurate. This document is not intended to be a complete statement or summary of any securities, markets, reports or developments referred to herein. No representation or warranty, either express or implied, is made or accepted by Hybridan LLP, its members, directors, officers, employees, agents or associated undertakings in relation to the accuracy, completeness or reliability of the information in this document nor should it be relied upon as such.

Any and all opinions expressed are current opinions as of the date appearing on this document only. Any and all opinions expressed are subject to change without notice and Hybridan LLP is under no obligation to update the information contained herein. To the fullest extent permitted by law, none of Hybridan LLP, its members, directors, officers, employees, agents or associated undertakings shall have any liability whatsoever for any direct or indirect or consequential loss or damage (including lost profits) arising in any way from use of all or any part of the information in this document.

This document should not be relied upon as being an independent or impartial view of the subject matter and, for the avoidance of doubt, does not constitute “independent investment research” for the purposes of the Financial Conduct Authority rules. The individuals who prepared this document may be involved in providing other financial services to the company or companies referenced in this document or to other companies who might be said to be competitors of the company or companies referenced in this document. As a result both Hybridan LLP and the individual members, directors, officers and/or employees who prepared this document may have responsibilities that conflict with the interests of the persons who receive this document. Hybridan LLP and/or connected persons may, from time to time, have positions in, make a market in and/or effect transactions in any investment or related investment mentioned herein and may provide financial services to the issuers of such investments.

In the UK, this document is directed at and is for distribution only to persons who (i) fall within Article 19(5) (persons who have professional experience in matters relating to investments) or Article 49(2) (a) to (d) (high net worth companies, unincorporated associations, etc) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) or (ii) are Professional Clients or Eligible Counterparties (as those terms are defined in the rules of the Financial Conduct Authority) of Hybridan LLP (all such persons referred to in (i) and (ii) together being referred to as “relevant persons”). This document must not be acted on or relied up on by persons who are not relevant persons. For the purposes of clarity, this document is not intended for and should not be relied upon by persons who would be classified as Retail Clients (as defined by the rules of the Financial Conduct Authority).

Neither this document nor any copy of part thereof may be distributed in any other jurisdictions where its distribution may be restricted by law and persons into whose possession this document comes should inform themselves about, and observe, any such restrictions. Distribution of this report in any such other jurisdictions may constitute a violation of UK or US securities law, or the law of any such other jurisdictions.

Hybridan LLP and/or its associated undertakings may from time-to-time provide investment advice or other services to, or solicit such business from, any of the companies referred to in this document. Accordingly, information may be available to Hybridan LLP that is not reflected in this material and Hybridan LLP may have acted upon or used the information prior to or immediately following its publication. In addition, Hybridan LLP, the members, directors, officers and/or employees thereof and/or any connected persons may have an interest in the securities, warrants, futures, options, derivatives or other financial instrument of any of the companies referred to in this document and may from time-to-time add or dispose of such interests.

Neither the whole nor any part of this document may be duplicated in any form or by any means. Neither should this document, or any part thereof, be redistributed or disclosed to anyone without the prior consent of Hybridan LLP.

Hybridan LLP is a limited liability partnership registered in England and Wales, registered number OC325178, and is authorised and regulated by the Financial Conduct Authority and is a member of the London Stock Exchange. Any reference to a partner in relation to Hybridan LLP is to a member of Hybridan LLP or an employee with equivalent standing and qualifications. A list of the members of Hybridan LLP is available for inspection at the registered office, 2 Jardine House, The Harrovian Business Village, Bessborough Road, Harrow, Middlesex HA1 3EX.

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use