Edison Investment Research

Solid State (SOLI); wins £4.3m contracts to supply power units for robotic systems

Stock up 3.42% to 302p at 8:13

SOLI has announced that it has received orders to supply power units for autonomous robots operating in cold environments.

Fuller’s full year results providing an antidote to bad news from the high street

The results confirm that people are still eating out and drinking out – in fact drinking out is becoming the predominant trend as seen elsewhere in the industry.

Treatt (TET); application for block listing of 2m ordinary shares

TET has made a block listing application with the UK Listing Authority for 2 million ordinary shares of nominal value £0.02 each and with London Stock Exchange (LSE) for trading of these shares.

Seneca Global Income & Growth Trust (SIGT); FY 2018 results - reports NAV total return of 5.7%

Stock flat at 173.75p at 8:10

For the year ended 30 April 2018, SIGT’s NAV total return of 5.7% trailed the benchmark return of 7.7%. However, performed better over the three-year period, providing a return of 27.6% compared to 15.5% for the benchmark. The company also increased its rolling debt facility by £3m and increased its maturity to 3 years.

Global implications of rising US yields

Tighter monetary policy and larger US fiscal deficits point to higher yields ahead – and a higher risk premium for emerging markets

Events in Italy may have highlighted a crowded short position in long-term bonds, with US 10y yields falling by 0.25% to 2.75% during a week of political uncertainty. However, US bond market investors still have to contend with rising short-term interest rates and a substantial increase in the issuance of US Treasuries to finance Trump’s tax reform. Furthermore, this is happening at the same time as the US Fed attempts to reduce the size of its balance sheet. Current 10y yields appear too low in the context of a continued economic expansion and emerging market policymakers are becoming concerned.

OnTheMarket (OTMP); declares final results: group revenue declines; loss widens

For the year ending 31 January 2018, OTMP’s group revenue declined to £16.0m (2017: £17.8m). Loss after tax attributable to shareholders rose to £12.1m (2017: £4.0m).

appScatter Group (APPS); final results: Reports revenue of £1.9m

For the year ended 31 December 2017, APPS reported revenue of £1.9m and loss after tax of £5.8m (2016: £8.8m). The year-end cash balance was £3.8m (2016: £226).

G3 Exploration (G3E); 2017 results: net loss of $24.6m, mainly to discontinued downstream business

G3E’s total revenue declined to $25.7m in 2017 (2016: $29.1m) and net loss increased to $24.6m (including $13.1m impairment charges due to discontinued downstream business; 2016: $12.1m).

Avanti Comms Group (AVN); award of $20.075m from arbitration proceeding

AVN has announced that the arbitral tribunal has ordered the government of Indonesia to pay the company the sum of USD 20.075m by 31 July 2018.

Major resource upgrade for Europa in the Porcupine Basin

Europa Oil & Gas has almost doubled its prospective resource estimate in its FEL 3/13 licence in the Porcupine Basin offshore Ireland. The completion of pre-stack depth migration (PSDM) reprocessing of 3D seismic data originally acquired in 2013 has led to an estimated combined gross mean un-risked prospective resources on the licence of 2.9 bnboe, up from the 2016 estimate of just under 1.5 bnboe. The increased understanding of the Beckett, Shaw and Wilde prospects will provide a fuller picture to potential partners that Europa will be hoping to attract when it launches a farm out process for FEL 3/13 after providing similar updates on its other Porcupine licences, FEL 2/13 and FEL 1/17.