Fever Tree (FEVR); beating analysts’ ambitious earnings
In Europe there were share gains in both on- and off-trade channels
Fever-Tree has spurted ahead, even beating analysts’ ambitious earnings expectations with EPS up 35.8% at 53.2p, against consensus of 52.0p. The total dividend is raised 36% at 14.50p, revenue was up 40% to £237.4m, and EBITDA grew 33.9% to £78.6m, with EBITDA margin recovering from 32.6% at interim to 33.1%. Net cash has, as expected, risen a massive 64% to £83.6m.
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Boku (BOKU); posts maiden positive adjusted EBITDA for the whole year
Mix of business combined with continued buying prowess helped gross profit margin continue to increase to 93% up from 91% in the previous year
Boku announced results for the year ended 31 December 2018. Revenue was up 45% to $35.3m (2017: $24.4m), while adjusted EBITDA was $6.3m vs. a 2017 adjusted EBITDA loss ($2.3m). Reported net losses were down 85% to $4.3m (2017: $28.1m). The closing cash balances increased to $32.3m.
Read more...Avon Rubber (AVON); secures $246m contract with US Department of Defense
The company anticipates receiving the first order under this contract shortly
Avon Rubber reported it secured a $246m sole source contract to supply the US Department of Defense with its M53A1 powered air system and related accessories for a duration of up to 7 years, which is a five-year base period plus two further one-year extension periods.
Read more...S&U (SUS); reveals PBT for the year ended 31 January 2019 up 15% at £34.6m
Total dividend for the year up 12% to 118p per share.
According to S&U’s preliminary results, group revenue on an IFRS9 adjusted basis are up 15% at £89.2m and basic EPS is up 14% at 233.2p. Borrowings at the year-end stood at £108m against £104m last year. Risk adjusted yield of 24.6% for the year was slightly lower than 26.7% for 2018 due to higher impairments.
Read more...Majestic Wine (WINE); is making an inevitable response to the success of Naked Wines
The endgame for the plan is to move the entire business under the Naked brand
Majestic is making the inevitable response to the success of its growth child Naked Wines, outlining a Transformation Plan to reform the entire group around Naked. Naked, acquired in 2015, has shown itself to be the growth engine of Majestic, doubling sales to £175m this year, and building its online penetration to almost 45%.
Read more...MOD Resources (MOD.LSE); increases reserve estimate tonnage at the T3 Copper-Silver Project by 61%
The completion of the feasibility study will be a major de-risking event for MOD Resources
MOD Resources has increased its JORC 2012 compliant reserve estimate at the T3 Copper-Silver Project as part of its feasibility study. The increase represents an additional 61% in total tonnage, a 107% increase in contained silver and an increase of 57% in contained copper.
Read more...Accsys Technologies (AXS); posts FY 2019 trading update
Group EBITDA for the year ended 31 March 2020 is now anticipated to be marginally below the previous range of market expectations
Accsys issued a trading update for the financial year ending 31 March 2019. The company reported that there was a significant increase in Accoya sales volume of approximately 49,500 cubic metres while its production is now at a run-rate of around 60,000 cubic metres per annum following the full ramp-up of a third reactor.
Read more...Bigblu Broadband (BBB); total revenue increases 26.1% to £55.4m for FY 2018
The company was awarded a grant of £2.1m to develop and conduct field trials for next generation 5G fixed wireless broadband
Bigblu Broadband posted its results for the 12 months ended 30 November 2018 (FY 2018). Like for like revenue grew 8.2% and adjusted EBITDA increased 45.7% to £6.8m. Net debt stood at £11.9m (FY 2017: £13.2m) and the number of total customers increased 13% to c.113,000.
Read more...Premier Technical Services Group (PTSG): announces £50m credit facilities with HSBC
The company also announced a £10m term loan facility
Premier Technical Services announced a new £40m revolving credit facility with HSBC today. The facility has a four-year maturity with an option to extend it by a further year, to March 2024. The company also announced a £10m term loan facility, which has a four-year maturity, with an option to extend it by a further year.
Read more...JPMorgan Global Convertibles Income Fund (JGCI); NAV total return of -5.69%
Board will seek to maintain the targeted annual dividend of 4.5p/Sh, resulting in a yield of 5.3% on the share price prevailing at period-end, in the absence of unforeseen circumstances
For the six months ended 31 December 2018, the JPMorgan Global Convertibles Income Fund reported total return on net assets stood at -5.7% vs. -3.4% from its benchmark, the Bloomberg Barclays Global Convertibles Credit Rate Sensitive Index. The total return to shareholders was -6.8%, as the discount of the share price to NAV widened over the six-month period from 3.6% to 6.0%.
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