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Ocado is the highlight in a quiet week

Earnings remain subdued on both side of the pond this week, with the US week shortened by the Independence Day holiday today.

AdEPT Technology Group PLC - Ocado is the highlight in a quiet week

The week ahead

In the UK, we expect to see June period end trading updates begin to emerge. We anticipate interim results from Ocado Group PLC (LON: OCDO) and final results from Ilika PLC (LON: IKA) and Adept Technology Group PLC (LON: ADT).  Also, this morning Panoply Holdings PLC (LON: TPX) has reported finals while Dev Clever Holdings PLC (LON: DEV) has reported interims.

Ocado, the online grocery platform and solutions provider, announces interim results tomorrow. From a technology standpoint, the focus will be on how the solutions revenue and pipeline are evolving and how the Ocado Smart Platform is developing. In April, the group announced it had invested £10mln in and commercially partnered with Oxford-based Oxbotica to develop a range of autonomous vehicles that will be integrated into the Ocado Smart Platform. The use cases range from vehicles that operate inside of Ocado's customer fulfilment centre buildings and the yard areas that surround them, all the way to last-mile deliveries and kerb-to-kitchen robots. In addition, the company completed the acquisition of two robotics businesses – Kindred Systems and Haddington Dynamics – early in the period.

Ilika, which develops solid-state battery technology, reports final results tomorrow. In its trading update last month, it said that trading for the year ended in April was in line with management expectations. The company expects to announce revenues of approximately £2.3mln (2020: £2.8mln), with an adjusted EBITDA loss of £2.3mln (2020: £2.1mln) while cash and cash equivalents at the period end were £9.8mln (30 April 2019: £14.8mln).

AdEPT, the managed service provider, reports final results on Wednesday. In its trading update in April, the company said it expects to report revenue and underlying earnings (EBITDA) for the year ending March 2021 in line with market forecasts. The group closed the period with senior net debt also in line with market expectations at £26.1mln. This includes the repayment of the deferred first-quarter (Q1) VAT liability in early Q4 and the cash costs of the new bank facility arrangement fees. In April, the company announced the acquisition of Datrix, a London-based supplier of advanced cloud-based networking, communications and cybersecurity solutions, for an initial cash consideration of £9.0mln, which was funded through the group's new bank facility. The group is acting as a consolidator in the highly fragmented market, focusing on sub-scale operators that would benefit from being part of a larger organisation, benefiting from the group’s scale, breadth of capability and infrastructure for growth.

Meanwhile, in the US, corporate earnings remain subdued until the new earnings season takes hold in two weeks’ time. Among the few tech-related companies reporting include Smart Global Holdings and Duck Creek Technologies.

Date Company Event Period ending
05-Jul Panoply Final results 31-Mar
05-Jul Dev Clever Interim results 30-Apr
06-Jul Ocado Interim results 31-May
06-Jul Ilika Final results 30-Apr
07-Jul AdEPT Technology Final results 31-Mar
Early July Quartix Trading update 30-Jun
13-Jul ZOO Digital Final results 31-Mar
13-Jul Solid State Final results 31-Mar
14-Jul Kromek Final results 30-Apr
15-Jul Redcentric Final results 31-Mar
Approx 22/7 Ideagen Final results 30-Apr
28-Jul FDM Interim results 30-Jun
29-Jul SRT Marine Final results 31-Mar
July Access Intelligence Interim results 31-May
July Shearwater Final results 31-Mar
July H2 OTAQ Final results 31-Mar
July 3rd week  PCI-PAL Trading update  
Late summer GRC Final results 31-Mar
03-Aug Amino Technologies Interim results 31-May
03-Aug Filtronic Final results 31-May
03-Aug Seeing Machines Trading update 30-Jun
05-Aug Spirent Interim results 30-Jun
11-Aug Avast Interim results 30-Jun
Aug Keywords Trading update  
09-Sep Computacenter Interim results 30-Jun
Sept Keywords Interim results 30-Jun
Sept Kainos Trading update  
Sept Blancco Final results 30-Jun
Sept Craneware Final results 30-Jun
Late Sept Transense Final results 30-Jun

Source: Data from regulatory news and company websites

 

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Price: 287 GBX

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