Edison Investment Research

Blackrock hits oil West of Shetland

Siccar Point Energy has announced that the Blackrock exploration well, 204/5b-2,  has encountered oil in a number of thin sandstones, though it has not been declared commercial. The prospect sits on the Corona Ridge between the Cambo and Rosebank fields and was targeting 200mmbbls in the Paleocene Flett reservoir, which rests on the volcanics of the Colsay Member. Gas was also encountered in the overlying Hildasay member. The well was the first to test the additional potential of Siccar’s acreage around its Cambo field, which it estimates could be up to 1.5bnbbls.

Greggs (GRG); releases trading update for the first 19 weeks of FY2019

Greggs, the leading food-on-the-go format, has delivered exceptional like-for-like sales growth of 11.1% over the first 19 weeks of FY19

Greggs, the leading food-on-the-go format, has delivered exceptional like-for-like sales growth of 11.1% over the first 19 weeks of FY19, a further improvement on impressive growth of 9.6% in the first seven weeks of the year.

Mercia Technologies (MERC); Concepta confirms first myLotus® pregnancies

Mercia Technologies’ Concepta confirmed first pregnancies from early adopters of myLotus®, its home fertility testing and pregnancy tracking device

Mercia Technologies’ Concepta confirmed first pregnancies from early adopters of myLotus®, its home fertility testing and pregnancy tracking device. The confirmation of first pregnancies is authentication that the women’s fertility monitor, myLotus®, can successfully enhance fertility, by helping women personally monitor their hormone cycles and ovulation profiles to find their most fertile days to conceive naturally.

1Spatial (SPA); FY results: revenue up 4.1% to £17.6m

1Spatial announced their final results for the year ended 31 January 2019, demonstrating that revenue grew by 4.1% to £17.6m (2018: £16.9m)

1Spatial announced their final results for the year ended 31 January 2019, demonstrating that revenue grew by 4.1% to £17.6m (2018: £16.9m). Operating losses improved by £0.2m, to £1.6m from £1.8m in 2018.

Greggs (GRG); total sales increases 15.1% in the first 19 weeks of FY2019

Greggs reported its trading update for the 19 weeks to 11 May 2019, showing that like-for-like sales in company-managed shops rose 11.1%

Increased customer visits have aided in strong trading in traditional categories and new products. Strategic investment in supply chain and IT systems are progressing to plan.

Civitas Social Housing (CSH); posts quarterly NAV as at 31 March 2019

On 8 May 2019, Civitas’ board announced a quarterly dividend for the quarter ended 31 March 2019 of 1.325p per ordinary share

IFRS NAV per share was up 0.6% to 107.1p during the quarter and annualised rent roll stood at £45.7m as at 31 March 2019.

Chemring Group (CHG); Expectations for full year 2019 remain unchanged

Chemring Group declared its close period statement for the six months ended 30 April 2019. The board's full year expectations for 2019 remain unchanged

As a result of insurance recoveries H1/H2 weighting of continuing underlying operating profit for 2019 is expected to be approximately 30%:70%. The insurance recoveries refers to the incident at the UK Countermeasures site, which occurred in August 2018, being received earlier than previously anticipated.

Premier Technical Services Group (PTSG); reports strong trading in Q1 2019

Premier Technical Services Group posted its trading update for the 12 weeks to 31 March 2019, showing that trading was strong in Q1 2019

Premier Technical Services Group posted its trading update for the 12 weeks to 31 March 2019, showing that trading was strong in Q1 2019. The update also demonstrated that recent acquisitions of Guardian and Trinity were performing ahead of management expectations.

StatPro Group (SOG); secures a €1.2m contract for Revolution Delta

StatPro Group secured a three-year contract with an EU investment manager for Revolution Delta with a minimum contract value of €1.2m

StatPro Group secured a three-year contract with an EU investment manager for Revolution Delta with a minimum contract value of €1.2m. The contract includes a considerable uplift in the annual value.

Powerhouse Energy Group (PHE); W2T signs power supply and waste feedstock purchase agreements with A

PowerHouse Energy Group announced that its exclusive development partner, Waste2Tricity Limited (W2T), has signed an agreement to provide the electricity generated at Protos to a private grid operated by Protos

PowerHouse Energy Group announced that its exclusive development partner, Waste2Tricity Limited (W2T), has signed an agreement to provide the electricity generated at Protos to a private grid operated by Protos. W2T will provide this electricity using DMG® technology. W2T have also agreed a supply agreement for unrecyclable plastic for the DMG® plant.