Edison Investment Research

Game Digital (GMD); performs well in challenging market

Since Feburary the company agreed a collaboration agreement with Sports Direct, which included a substantial £55m financing package

Game Digital has performed well in a challenging market. EBITDA for the full year was £10.1m, a 26% rise against FY17, and in line with the pre-close guidance. The second half more than reversed the 9% year-on-year decline in the first. 

Halfords (HFD); reports solid interim results

Halfords to refresh around 90 stores and 50 garages a year going forward

Halfords has this morning reported a solid set of interim results. Like-for-like sales growth has reduced slightly versus that reported at the 20 weeks stage, but still remains strong at group level (2.5%) and across the two key divisions: Retail (2.3%) and Autocentres (3.3%).

Sainburys (SBRY); first-half results slightly above market expectations

Like-for-like sales accelerated to 1.0% in the second quarter

Sainsbury first-half results are slightly above market expectations at pre-tax profit of £302m. That is 20.3% up on a particularly weak in the first half last year. Sales (excluding VAT and fuel) were £15.1bn, total growth was at 3.5%. The dividend is maintained at 3.1p and management confirms its guidance of full-year PBT £634m, year-on-year growth of 7.6%.

NetScientific(NSCI); announces study to improve analysis of circulating tumour cells

NetScientific announced that its US-based portfolio company, Vortex Biosciences, has presented a study at NanoBiotech Montreux 2018 that shows the possibility of combining its technology with impedance spectroscopy to improve the analysis of circulating tumour cells (CTCs).

Oxford BioDynamics (OBD); signs fifth collaboration agreement in immuno-oncology space

The financial terms of the agreement have not been disclosed

OBD signed an agreement with a major US biopharmaceutical company to develop predictive biomarkers for immuno-oncology (IO) therapeutics. The company stressed the need for patient stratification to accurately exclude those who will not respond to current IO therapeutics, as well as differentiate individual treatments from alternative treatment options.

Wetherspoon’s (JDW); Q3 statement reports buoyant trading

The companies like-for-like sales are up 5.5%

From his hospital bed following an appendix operation, chairman Tim Martin treats readers at length, including five appendices, to the benefit of his thoughts in favour of a no-deal Brexit, or as he puts it, free trade.

Target Healthcare REIT (THRL); completes £37m acquisition in Cumnor Hill and Badgers Mount

Stock up 0.92% to 110p at 8:31

Target has announced the acquisition of well-advanced developments in Cumnor Hill, Oxford and Badgers Mount, Kent. The total transaction value of £37m is being funded partly by deploying the Group’s remaining uncommitted capital and partly by capped development contracts for further work to create two residential care homes with a total of 130 beds.

Oxford BioDynamics (OBD); publish study in F1000 Research

Oxford BioDynamics identifies epigenetic changes for monitoring disease progression in Huntington's

Oxford BioDynamics announced that a study published in the journal, F1000 Research, provided the first evidence that discrete and measurable epigenetic changes are observable in Huntington’s disease (HD). These changes are in the form of chromosome conformation signatures.

Tyman (TYMN); reports FY revenue, underlying operating profit and FCF will be ahead of 2017

Stock up 3.64% to 284.50p at 8:04

Tyman expects an increase in its overall full year performance underpinning a strong contribution from the acquisition of Ashland and Zoo Hardware, partly offset by FX headwinds and relatively significant input cost inflation across most markets. With a positive market outlook in North America and Continental Europe, the group expects to make further progress in 2019.

Lookers (LOOK); trading activity positive in Q3; outlook for FY in line with market expectations

Growth in used car and aftersales segments offset declines in the new car segment, posting overall positive results.

For the nine months ending 30 September, trading volumes and gross profit were down 7% and 5% in the new car market, reflecting weak market conditions, supply shortages and a new testing regime. However, Lookers’ margins and profit per unit were greater than the previous year.  The final quarter’s vehicle sales are expected to increase with the easing of supply issues.