Polypipe (PLP): report LFL revenue growth of 10.2%; outlook for FY in line with expectations
Revenue for the 10 months ended 31 October 2018 increased 4.5%
In its trading update for the four months ended October 2018, Polypipe declared like for like revenue growth of 10.2%. Growth driven by strong organic expansion in the Residential Systems segment and good performance in the Commercial and Infrastructure Systems segment.
Read more...Accsys Technologies (AXS); narrows underlying loss before tax to €4.5m in 1H18
Accoya sales volume increases 8% year-on-year
Higher volumes and pricing, besides license income, led to a 12% year-on-year increase in revenue for the six months ended 30 September 2018. Underlying EBITDA loss narrowed to €1.4m from €2.8m, reflecting increased sales and production volumes, in addition to price hikes.
Read more...Solid State (SOLI); reported positive interim results for the six months ended 30 September 2018.
The company reports significant contract wins have resulted in a strong open order book up by 46% to £29.4m from £20.1m last year.
Solid states interims posted adjusted gross profit margins and adjusted profits before tax increases of 0.7% and 6% respectively for the six months ending 30 September 2018. The interim dividend and adjusted diluted earnings per share increased by 5% each.
Read more...Custodian REIT (CREI): announces purchase of Evesham Shopping Park
The shopping park is one mile from Evesham town centre and two miles from the A46
Custodian REIT acquired the 43,000 sq. ft. Evesham Shopping Park at a mutually agreed purchase price of £14.2m. The company used its existing debt resources, which increased its net gearing to 22.8% loan to value.
Read more...Marble Point Loan Financing (MPLF): issued $29.5m of senior unsecured notes with a 7.5% coupon
The aggregate principal amount represents an increase of $5m from the amount announced earlier this month
Marble point issued $29.5m of senior unsecured notes with a 7.5% coupon. The notes are due in 2025. The net proceeds from the privately placed notes are c. $28.4m after placement fees and estimated offering expenses.
Read more...Target Healthcare (THRL); acquires care home in East Sussex for nearly £13.8m
The property is leased for a 35-year period with RPI-linked cap and collar to a subsidiary of the Caring Homes Group
Target Healthcare recently acquired a care home in East Sussex for nearly $13.8m. The care home, which is designed around a residents’ courtyard, consists of 62 bedrooms with full en-suite wetroom facilities and has an external seating for residents.
Read more...Amur Minerals (AMC); announces strategic plan for Kun-Manie project
Amur will intensify its attempts to identify industry partners
Amur has provided a summary of its fully integrated plan for the Kun-Manie nickel copper sulphide project. The plan comprises engineering and development of the Kun-Manie project to Bankable Feasibility Study level. As well as off-site infrastructure development, including access and transportation, identification and engagement of appropriate strategic partners and finalisation of phased funding.
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Brexit: A decisive step into the fog
Limited support for UK PM May’s Brexit deal creates further uncertainty
UK PM May’s Brexit deal has achieved the unlikely honour of uniting both pro-EU and Brexiteers in rejecting it. Despite a difficult House of Commons session yesterday, she only reiterated later her role is to finalise the text and bring it back to Parliament for a vote in December. At this point it is difficult to see how she will succeed. A key rival is in the process of securing the 48 letters required for a vote of no-confidence and she has failed to secure a new Brexit minister. Without an election, any new PM would have the difficult task of renegotiating the current deal - and would have to create a credible deterrent of no-deal to succeed. An election risks a Labour government less accommodating to the corporate sector. Both these scenarios are likely to be unwelcome for financial markets. The probability of sufficient change to the draft agreement to pass the UK Parliament appears slim but would in contrast be welcomed by investors.
Read more...Hutchison China MediTech (HCM); reveals Phase III trial results did not meet primary endpoint
Fruquintinib shows improvement in objective response rate, disease control rate, progression-free survival and the duration of response
The Phase III trial of fruquintinib in advanced non-small cell lung cancer patients did not meet the primary endpoint of increasing overall survival, despite improvements in progression-free survival.
Read more...European Assets Trust NV (EAT): to propose migration to the UK
European Assets Trust will provide a further update during the week starting 26 November 2018
European Assets Trust announced that it plans to propose the migration of the company’s legal seat and structure from the Netherlands to the UK. There will be no change to the investment policy or dividend policy as a result of this migration and the investment team will also remain the same.
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