Edison Investment Research

Solid State (SOLI); announces franchise extension

The impact of the franchise extension has the potential to have a material impact on revenues in the longer term.

Solid State announced a franchise extension in its Value Added Distribution division, Solid State Supplies. Following the acquisition of the Microsemi Corporation in March 2018 by Microchip Technology, Microchip has extended its full franchise to Solid State Supplies, allowing access to its entire product portfolio for sales in the UK and Eire.  Microchip is a provider of microcontroller, analog, FPGA, connectivity and power management semiconductors.

BCA Marketplace (BCA); announces operating profit at £100.2m

BCA announced its preliminary results for the year ending 31 March 2019. Revenue increased to £3,028.0m due to growth across the business. UK Vehicle Remarketing and Vehicle Buying exceeded £1bn in revenue. Adjusted EBITDA stood at £171.9m, while adjusted diluted EPS rose 13.2% to 12.9p. Full-year dividend increased 12.9% to 9.65p per share, while net debt stood at £231.9m.

Metals Exploration (MTL); reports improved performance in both mine and plant

The AGM statement says BIOX is yet to be fully resolved.

In its AGM statement, released yesterday, Metals Exploration (MTL) reported improved performance at both mine and plant. After discovering several discrepancies in the historical operational data released to the market versus the mine’s actual performance in January, yesterday the company reported that the new team it has put in place has been able to sustain a 66% overall processing recovery in 2019, compared to 57% in 2018.

SCISYS Group (SSY); agrees to allot 51,000 new ordinary shares

Shares to be admitted on AIM and Euronext Growth at 8.00 a.m. on 1 July 2019.

SCISYS Group has agreed to allot 51,000 new ordinary shares of 25p each in the capital of the company in accordance with the exercise of options over ordinary shares by former employees of the company.

Low & Bonar (LWB); expects results to be in line with expectations

The group provided a trading update for the six months ended 31 May 2019.

Low & Bonar released a trading update today, revealing it expects results for the period to be in line with the board’s expectations as on 20 May 2019. In addition to the previous announcements, group sales for the period were approximately 8% lower compared to the previous year. The group expects a small underlying PBT for the period.

Bigblu Broadband (BBB); trading update reveals total revenue up 21.5%

Continued improvement across all financial and operating metrics

Bigblu Broadband posted its trading update for the six months ended 31 May 2019. Like-for-like organic revenue growth on a constant currency basis was 12% and gross margin expanded to 43.7%, due to improved product mix and network support.

Amur Minerals (AMC); to determine final processing design for Kun-Manie resource base

The Board and management believe that the company is well-positioned to capitalise on the nickel market’s growth.

Amur Minerals reported they will carry out studies that will produce the Permanent Conditions TEO, the Russian version of a Bankable Feasibility Study (BFS). Cash reserves stood at US$1.3m as of 31 December 2018 vs. US$2.6m at the start of 2018.

Sureserve Group (SUR); PBT from continuing operations at £1.1m for H1 2019

Losses from discontinued operations at £nil.

Sureserve Group announced its interim results for the six months ended 31 March 2019. Revenue from continuing operations increased 13% to £102.5m, while underlying EBITA from continuing operations rose 17% to £3.1m. Underlying pre-tax profit stood at £2.5m and EPS from continuing operations and discontinued operations stood at 0.6p. Overall, the company reports the balance sheet remains robust, with net debt at £12.9m as of 31 March 2019.

Regional REIT (RGL); proposes £50m issue of equity

Regional REIT has announced the proposed issue of ordinary shares in the company to raise gross proceeds of about £50m. Qualifying shareholders will be offered the opportunity to participate in the open offer on the basis of 1 new ordinary share for every 8 existing ordinary shares.

Aberdeen Diversified I&G Trust (ADIG); NAV per share decreases 3.1%

Aberdeen Diversified Income and Growth Trust posted its results for the six months ending 31 March 2019. Net revenue return after taxation decreased 8.2% to £8,930,000, while revenue return per share decreased 8.8% to 2.70p. Total assets stood at £470,906,000 as of 31 March 2019, while total dividends rose 2.3% to 2.68p.