Edison Investment Research

Informa (INF); announce trading update

The 10 month update from Informa puts revenues up 2.8% year-on-year. The last two months of the calendar year are heavy, though (typically 20% of annual) and the group is on track to meet forecasts for 3.5% for the full year.

Carr’s Group (CARR); Group revenues virtually unchanged at £403.9m

No big surprises as the adverse impact of mild winter weather in the UK and wet weather in the US on demand for feed blocks, animal feed and fuel had already been flagged as had the beneficial impact of a strong order book in the Engineering division. Group revenues were virtually unchanged year-on-year during FY19 at £403.9m, with commodity price inflation, the Animax acquisition in September 2018 and high utilisation levels in the Engineering businesses compensating for lower volumes of feed block and feed.

Canacol Energy (CNE); Q319 results

Canacol released this morning its Q319 results. The third quarter saw an increase in natural gas production of 28% from the previous quarter,  maintaining netbacks at the wellhead of $3.86/Mcf, after opex and royalties.
Canacol expects to sign a twelve year take or pay gas sales contract for approximately half of the volume of the planned 100 MMcfpd gas pipeline from Jobo to Medellin before the end of November 2019. 

WANdisco (WAND); Co-develops Azure-embedded solution with Microsoft

Announcement today that WANDisco co-presented with Microsoft at the vendor’s customer and partner event, Ignite, essentially confirms Microsoft as the cloud partner announced previously this year (15th June) and does illustrate that Microsoft is deeply embedding Fusion into Microsoft Azure platform. With this solution, application developers will for the first time be able to rely upon guaranteed data availability at scale and across any data location.

Target Healthcare (THRL); Q1s and acquisition of care homes

Target has today published its NAV and corporate update for the three months ended 30 September 2019 (Q120) alongside the £81.3m (including transaction costs) acquisition of eight care homes and 31 retirement apartments, marking a timely deployment of the proceeds of its well-received £80m (gross) equity issue.  It yesterday declared a 1.5% quarterly DPS increase for Q120.

Acorn Income Fund (AIF); announces interim dividend of 5.2p

The Directors of the company have announced a fourth interim dividend for the year ending 31 December 2019 of 5.2p per ordinary share. This represents a 5% increase compared to the corresponding dividend declared last year.

Finsbury Growth & Income Trust (FGT); issues 110,000 shares at 888.00p per share

Finsbury Growth & Income Trust has issued 110,000 new ordinary shares of 25p each in accordance with its placing programme at a price of 888.00p per share. The shares rank pari passu with the existing ordinary shares in issue.

BioPharma Credit (BPCR); declares a dividend of $0.0175

The default payment for dividends is in US dollars

BioPharma Credit declared an interim dividend of $0.0175 per ordinary share for the financial period ending 30 September 2019. The dividend will be paid on 17 December 2019 to ordinary shareholders on the register as of 15 November 2019.

Diversified Gas and Oil (DGOC); announces sale of non-producing assets

Diversified Gas & Oil announced this morning the sale of its non-producing assets acquired from EdgeMarc Energy for $10m. The assets include three drilled and uncompleted (DUC) wells , classified as proved and undeveloped wells, and some undeveloped acreage. DGO initially valued these wells at c $14 million on a PV10 basis; however, DGO has allocated no purchase price value to the DUCs at the time of the acquisition.

Civitas Social Housing (CSH ); Q2s and Update

Civitas Social Housing has published its 30 September (Q220) NAV along with a company update. End-Q220 NAV per share was 107.23 compared with 107.21p at end-Q120 (and 107.08 at end-FY19). On a portfolio basis the end-Q220 NAV per share was 118.3p. A DPS of 1.325p was in respect of Q120 paid in the quarter and a similar pay-out has been declared in respect of Q220, to be paid on or around 29 November.