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Breakfast News - Inqo Investments, Field Systems Designs, Nu-Oil and Gas and more...

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AIM:

Total number of AIM Companies (Incl Susp):

953*

Total number of AIM Companies trading:

904*

*as at close of business  27 February 2018

 

Standard List**  of Main Market:

Total number of Standard List Companies

(Incl Susp):

136*

Total number of Standard List Companies trading:

123*

*as at close of business  27 February 2018

 

NEX Growth Market:

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

86*

Total number of NEX Growth Market Companies trading:

82*               

*as at close of business 27 February 2018

                                 *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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Inqo Investments (NEX:INQO) 86.5p £10.1m

The social impact investment Company has raised gross proceeds of £1.25m through the placing of 1,388,890 new ordinary shares  with existing investors at a price of 90p per Placing Share. The Placing Shares represent approximately 10.7% of the Company's issued share capital as enlarged by the Placing. This Placing is the first of two tranches with the second tranche of £1.25m placed with the same investors on the same terms as the first tranche expected to take place in one year.

The net proceeds of the Placing will be used to execute on a range of additional opportunities the Company has identified in the healthcare, education and eco-tourism sectors in Africa. Inqo invests in businesses that are two to three years from profitability that have a direct social impact on the poor.

 

Field Systems Designs (NEX:FSD) 41.5 p £2.4m

HY Nov 17 results from the specialist installation and engineering Group providing mechanical and electrical installation and maintenance services in the water, power, waste, security, commercial and transport industries. Turnover £12.04m from £8.47m. PBT £211k from £122k. “FSD's sales effort is committed to both the water sector and towards new markets including EfW. The Board expect volumes in the water sector to continue to improve, but the timing of release of EfW [Energy from Waste] work is more difficult to predict. The order book however remains strong and the balance sheet sound. The directors believe that the group remains well positioned for the future.”

 

Nu-Oil an Gas (LON:NUOG) 1.3p £16.04m

£2m placing at 1.25p. The Placing proceeds will be applied to general working capital and the continued implementation of the Company's stranded and marginal field strategy, in conjunction with the Marginal Field Development Company Ltd., in which it has a 50% interest. The shares are down 25% today.

 

Tandem Group (TND.L) 97.5p £4.79m

FYDec17 trading update from the designers, developers, distributors and retailers of sports, leisure and mobility equipment. “Despite a small reduction in turnover of approximately 4% to £36.8m in the year ended 31 Dec 2017, the Group's net profit for the year is expected to be significantly ahead of the prior year. Although the cost control measures taken to streamline bicycle operations brought about an expected reduction in turnover, this enabled a positive impact on profitability. Toy sales were broadly flat compared to the prior year.  However, this was a strong result against a backdrop of a reported decline in revenues in the UK outdoor toy market of 6% in 2017. As anticipated, our direct to consumer operations continued to show revenue growth.” We could see no forecasts.

 

Mi-Pay Group (LON:MPAY) 12p £4.99m

“Trading for the year ended 31 Dec 2017 has been in line with expectations. The Company processed £95m in payment transactions (2016: £83m) increasing Transaction Services Revenues by £0.1m to £2.7m (2016: £2.6m) with total revenue for the year expected to be £3.1m (2016: £3.3m). We continue to focus on driving long-term transaction based revenue growth from our new and existing clients.”

£260k placing at 12.5p to e invested in the Company's fraud management platform and used for general working capital, including to support (following a successful trial) a new long-term fraud services contract with Alphacomm B.V.

Board reshuffle, Seamus Keating to move from Chair to Non-Exec. Michael Dickersen moves from CEO to Exec Chair. John Beale goes from CFO to CEO. Remains interim CFO until replaced.

 

Plastics Capital (LON:PLA) 122.5p £47.77m

“The niche plastics products group, announces that it expects results for the full year ending 31 March 2018 to be marginally below current market expectations in terms of Sales and adjusted EBITDA.

Organic sales growth in H2 FY17-18 has continued to be very strong. Films Division sales growth has been exceptional, benefitting from the recent investments we have made in increasing capacity and new capabilities.  Growth in the Industrial Division, particularly our bearings business, has improved but remains weaker than we expected when we reported at the interim stage. This largely represents a slower than expected pick-up in sales on certain large bearings contracts. With the benefit of hindsight, it seems that sales made on these contracts towards the end of FY16-17 were particularly high due to pipeline filling by customers and are unlikely to be sustained this financial year.

Taken as a whole, we expect to report that profitability has improved significantly from that reported in H1, with adjusted EBITDA expected to be approaching double that generated in H1.”  “The overall rate of travel of sales and profits growth across the entire Group is good and the Board believes profitability will follow sales as investments we have made over the last two years bed down." FYMar18E rev £77.78m and PBT £4.6m.

 

K3 Capital group (LON:K3C) 249.98p £105.5m

Trading update from the business and company sales specialist in the UK.

“Performance across all operating divisions within the Group has continued to be strong since the interim results released on 16 Jan 2018. In line with the stated business strategy of winning and transacting higher value and more profitable mandates, the Company is pleased to announce that KBS Corporate Finance has completed another significant private equity transaction, amongst a number of other recent successful transactions across the Group.

As a result, the Company is trading substantially ahead of management's expectations for the year ending 31 May 2018. Whilst only at the end of the third quarter of its financial year, the Group has already demonstrated significant year-on-year growth across all key metrics, including revenue, profitability and cash flow. The Group now expects full-year revenue to be c. £16m, and anticipates achieving an EBITDA of c. £7m.”

 

Stratex International (LON:STI) 0.9p £4.2m

“Stratex is pleased to confirm that Tim Livesey has today joined the board of the Company as CEO and Dr Bob Foster has resigned from the board.”

Tim is a geologist and has been involved in the international exploration and mining industry for 3 decades. Working on a number of exploration and advanced stage projects through feasibility to development, Tim has a broad range of experience including roles in senior management, advanced project development, social license to operate, government relations and arbitration.

Tim has participated in the exploration, study and development of several world-class assets, including the Nkomati Nickel mine (South Africa); the Kabanga nickel project (Tanzania); the Jabal Sayid Mine in the Kingdom of Saudi Arabia; and Tethyan Copper's Reko Diq copper-gold project in Pakistan on which he remains an adviser to Barrick Gold Corporation (through Lelantos Consulting Limited) in regards to ongoing arbitration with the Government of Balochistan and the Government of Pakistan.

 

IQE  (LON:IQE) 131.4p £993.5m

“The leading global supplier of advanced semiconductor wafer products and services to the semiconductor industry, has won a place at the GREAT Innovation Festival to be held in Hong Kong from 21-24 March 2018. The chance to represent the best of British innovation, sponsored by PwC, was presented during a launch event in London last week. IQE was selected as winner from entrants across the UK because of its global impact and technology leadership in the supply of advanced compound semiconductor wafers.” “As overall winner, IQE will be represented at the four day festival in Hong Kong, participating in a number of events demonstrating the "Best of British" to wide business, academic and government audience from the UK, Hong Kong, China, Japan, South Korea and the wider South East Asia region. The Festival will provide IQE with a unique opportunity to meet potential new business partners whilst also further raising its profile across a wider network including government agencies and the investment community.” FY Dec18E rev £175m and PBT £48.1m.

 

Ceres Power (LON:CWR)14.45 p £146.65m

Ceres Power has today unveiled a new 5kW stack platform and the latest advancements of its SteelCell® V5 at Fuel Cell Expo in Japan - the world's most advanced market for fuel cells. Dr Subhasish Mukerjee, Director of Fuel Cell Development, updated the international fuel cell community on the significant progress that the SteelCell® technology has made in terms of power density, efficiency, degradation, start-up times and in vibration testing. These technological updates consolidate the Company's position in its target markets including Data Centres, Residential, Commercial and Automotive. Highlights include; - 5kW stack provides double the power/litre compared to the existing 1kW stack; up to ~500W per litre -     Modular nature of 5kW stack allows for significant scale up to power applications from 5 to 100's kW generation - SteelCell® V5 enables net system efficiencies of 60%, with no combustion, offering approximately double the efficiency of conventional combustion engines without harmful emissions. FYJun18E rev £5m, pre-tax loss £10.9m.

 

 

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