Edison Investment Research

7digital Group (7DIG); FY 2017 results: revenue up 50% to £16.80m

For the full year ended 31 December 2017, 7DIG’s revenue increased 50% to £16.80m (2016: £11.21m). Sales momentum also improved with licensing revenue up 74% at £11.61m (2016: £6.67m).

Abzena (ABZA); Astro Bidco (BidCo) to acquire ABZA for £34.4m on an all cash offer

Stock up 150.00% to 15.00p at 8:09

ABZA has announced that it has reached an agreement with BidCo, a wholly owned company by WCAS Fund, on a recommended all cash offer to be made by the latter for all of the issued share capital of the former. This acquisition values the entire issued share capital of ABZA at approximately £34.4m on a fully diluted basis.

Augean (AUG); Cash LTIP for management team

AUG has announced that its board has approved and awarded a new cash long-term incentive plan (LTIP or the Plan) for its management team to retain and motivate key employees. The Plan will be funded through incremental value generated by the management team from a base of 35p (average share price for April 2018).

Domino’s deliver verdict on international business

In the past week three different Domino’s pizza companies have seen their share prices cut for different reasons. Last Tuesday, 7 August, Domino’s Pizza Group’s shares fell 10% on the London Stock Exchange and have only recovered 1% since.

On Friday 13 August DP Eurasia saw its London share price down 14%. And yesterday Tuesday 14 August, Domino’s Pizza Enterprises lost 7% on the Sydney stock exchange

KEFI Minerals (KEFI); progress in Tulu Kapi Gold Project

Stock down 1.96% to 02.00p at 8:24

In relation to its Tulu Kapi Gold Project, KEFI announced that it recently appointed a Head of Project Implementation, who with his construction oversight team will engage with the principal Project contractors Lycopodium and Ausdrill.

Polypipe (PLP); 1H18 results: Resilient 1H performance keeps PLP on track for the full year

Stock up 4.17% to 369.80p at 8:30

PLP reported its 1H18 results. Revenue increased 0.1% y/y to £210.2m, led by UK revenue growth of 0.9% (excluding an estimated £8m revenue impact due to adverse weather in Feb-Mar, ~5%). Underlying operating profit was 4.2% at £36.3m. Revenue from the UK residential systems grew 5.9% organically. Commercial and infrastructure systems revenue decreased 6.6%.

Witan Investment Trust (WTAN); 1H18 results: NAV total return of +1.11%

Stock down 0.18% to 1,126p at 08:06

For the half year ended 30 June 2018, WTAN’s NAV total return was +1.11%, in line with the benchmark return of +1.06%. The share price total return was +2.0%, as the discount narrowed to 0.7%.

Marshall Motor Holdings (MMH); H1 results: continuing underlying PBT up 1.2%

MMH posted a marginally smaller sales (down 0.4% YoY) with mixed LFL results while maintaining gross margins at 11.5% (H1 2017: 11.5%).

Raven Property Group (RAV); subsidiary to acquire warehouse building for RUR 2.45b

Stock down 1.01% to 44.00p at 8:12

RAV has announced that a subsidiary of the company has entered into two agreements for the acquisition of an extension to Sever logistics park in Moscow for a total of RUR 2.45b ($36.2m). The sale is expected to be completed by late September.

Ocean Wilsons (OCN); H1 IMS: weak BRL and higher competition impact H1 2018 performance

Stock down 12.74% to 1,082.00p at 8:20

OCN reported strong operating cash flow for H1 2018 ($55.6m vs. $33.1m in H1 2017) despite a difficult operating environment (weaker volumes and FX impact). Revenue was 3% higher in BRL, but in USD it was 4% lower at $235.0m. Operating margins remained stable at 20% (vs. H1 2017).