Edison Investment Research

Tinexta (TNXT); announces commercial partnership with VERIMI

What is relatively unusual is this is a partnership with no financial stake taken in the company by Tinexta

Yesterday Tinexta’s announced a commercial partnership with Germany’s largest Qualified Trust Service Provider, VERIMI in order to develop and expand its Digital Trust activities in Germany.  This is significant as it represents the first foothold in Europe’s largest and most important market for digital trust activities. 

Britvic (BVIC); revenue decreases 1.5% to £360.1m for 3Q 2019

Britvic announced its 3Q trading statement to 7 July 2019. Revenue decreased 1.5% (constant currency and excluding Soft Drinks Industry Levy/Sugar Sweetened Soft Drinks Tax) to £360.1m compared to last year.

QinetiQ Group (QQ.); revenue under contract increases to 85% in Q1

Strong operational performance across the group.

QinetiQ Group posted its trading update covering its first quarter of trading. Revenue under contract was 85%, up from 74% in April 2019. The company is on track to deliver mid-single-digit revenue growth this year.

Raven Property Group (RAV); updates on conditional purchase of its shares

Raven Property Group confirmed that, in accordance with the terms of an agreement with Invesco Asset Management Limited (IAML), the number of ordinary shares to be purchased from IAML has been fixed at the minimum amount of 17,000,000 ordinary shares.

Law Debenture Corporation (LWDB); reports share price total return of 12.1%

Law Debenture reports a 60% increase in dividends over the last 10 years

Law Debenture Corporation announced in its results for the half-year ended 30 June 2019 that NAV total return for the six months was 10.3%, compared to the 13.0% returned by the benchmark FTSE All Share Index. The trust continues to outperform the index on three, five and 10-year metrics. NAV/sh at fair value was 663.67p.

IQE (IQE); commenced initial VCSEL production at Newport mega factory

Signs contract extension with one of its largest VCSEL customers

IQE announced the commencement of initial VCSEL production at the Newport Mega Factory for a second major customer. The company signed a contract extension until the end of 2021, with one of its largest VCSEL customers. It has also extended two other existing contracts and noted that several other new contracts are in final negotiations. Vertical Cavity Surface Emitting Lasers (VCSELs) are a critical component in several 3D systems, using both structured light and Time of Flight (ToF) technologies.

European Assets Trust (EAT); posts a Sterling NAV total return of 19.6% for 1H19

It reports NAV/sh of €1.33 and EPS of €0.226 for this period

European Assets Trust announced unaudited interim results for the six months to 30 June 2019. The total return of its benchmark the EMIX Smaller European Companies (ex UK) Index rose 16.0% during the same period. The share price discount reduced to 5.5% at the period end (Sterling share price return for the period was 25.5%).

IQE (IQE); provides wireless qualification update

IQE has announced that it has successfully begun the production of wireless products for Asian supply chains and received additional orders for that market.

Cohort (CHRT); revenue increases 10% to £121.2m for FY 2019

Overall results in line with expectations

Cohort announced its results for the year ended 30 April 2019. Adjusted operating profit and EPS increased 6% and 16% to £16.2m and 33.60p, respectively, while total DPS increased 11% to 9.10p.

Norcros (NXR); revenue up 4.9% on a reported basis

Norcros announced its trading update for the 13-week period to 30 June 2019 ahead of its AGM today. Group revenue for the 13-week period was 4.9% higher on a reported basis compared to the same period last year. On a like-for-like (LFL) basis, group revenue was in line with the previous year.