Edison Investment Research

Oxford BioDynamics (OBD); final results keep revenue unchanged at £1.2m

Oxford BioDynamics reported an operating loss of £2.6m and cash of £18.3m as of 30 September 2018

Oxford BioDynamics’ released its final results today, reporting that the EpiSwitch platform has delivered progress in the areas of human and equine fitness. A collaboration was also announced in the area of sports-related concussion.

MedicX Fund (MXF); reports EPRA EPS increases of 11.4% from 3.5p to 3.9p

The investment advisor has agreed to abolish the performance fee and lower advisor fees

In its results for FY ended September 2018, MedicX reported a strong performance, with 14.8% total return on EPRA NAV and a 6.9% increase in EPRA NAV per share to 81.8p from 76.5p. PBT rose 47.4% to £49.1m from £33.3m in 2017. Value of the property portfolio increased 18.6% to £806.7m. Quarterly dividend of 1.51p per share was announced on 1 November. Total dividends per share for the FY was at 6.04p.

Diurnal Group (DNL); submits regulatory package for regulatory advice on Chronocort

Diurnal’s cortisol replacement product for adrenal hyperplasia Chronocort demonstrated significant benefits for patients

Diurnal has submitted a regulatory package, requesting scientific advice for Chronocort, based on detailed analysis of data from the largest ever clinical trial programme in congenital adrenal hyperplasia (CAH). 

Photo-Me (PHTM); interims not pretty with adjusted pre-tax profit down 7.9%

Strategy was focused on the expansion of Laundry operations and deployment of secure photo ID upload technology

At interim the picture is not pretty for Photo-Me, with adjusted pre-tax profit down 7.9% at £26.0m on revenue down 2% at £119.8m. However, the interim dividend has been maintained at 3.71p. The good news is that underlying revenue increased by 2.5%, while operations in Japan have recovered faster than expected, with underlying Asia operating profit aside from restructuring up 15%.

Scottish Investment Trust (SCIN): announces FY18 results

Earnings per share rose 12.8% to 26.0p from 23.1p in 2017

In its results for the year ended October 2018, the company reported a dividend per share (dps) increase of 6% to 21.2p - 35th consecutive yearly rise. Share price total return increased 1.9% with a NAV total return of 1.1%.

Hollywood Bowl (BOWL); full year results show strong performance

The company is pursuing a strategy of organic growth plus investment

The shift to experiential leisure has driven strong performance at Hollywood Bowl. The company has completed its second year since IPO with a strong performance.

e-Therapeutics (ETX); signs a one-year collaboration agreement with Novo Nordisk

Both the companies will use e-therapeutics’ Network-Driven Drug Discovery (NDD) method to find novel intervention strategies

e-therapeutic signed a one year collaboration agreement with Novo Nordisk, a company specialising in diabetic care.  Under the agreement, both the companies will use e-therapeutics’ Network-Driven Drug Discovery (NDD) method to find novel intervention strategies, biological pathways and compounds for testing that could possibly form the basis of novel therapies.

Avacta Group (AVCT); collaborates with LG Chem Life Sciences

Avacta Group will generate and carry out early-stage optimisation of its Affimer drug candidates against multiple undisclosed targets

Avacta Group announced today a major multi-target therapeutics development partnership and license agreement with LG Chem Life Sciences. The company will receive royalties on any future product sale, while LG Chem will cover Avacta’s research costs.

Games Workshop (GAW); indicate strong first half sales

Progress is “considerable” despite margins 2.5ppts lower

In neutral tones, Games Workshop indicated first half sales of £124m and operating profit of £41m. That represents growth of 14% and 6% respectively. The company says that, so far, this is in line with expectations for the year to May 2019.

HarbourVest Global (HVPE); announces additional USD quote on LSE

HarbourVest Global announced its plan to introduce an additional US dollar market quote for the company’s shares traded on the main market of the London Stock Exchange. This will operate alongside the company’s existing sterling quotation.