Edison Investment Research

Aberdeen New Thai Investment Trust (ANW); FY 2018 financial report: NAV per share rose 17.7%

For the year ended 28 Feb 2018, the NAV per ordinary share rose 17.7% on a total return basis (in sterling terms), about 3.9% behind the benchmark Stock Exchange of Thailand (SET) Index, which provided a total return of 21.6% (in sterling terms). The ordinary share price rose 18.4% on a total return basis to 592p, reflecting a small tightening of the discount to the NAV from 15.0% to 14.8%.

Smith & Nephew (SN.); reports flat underlying revenue in Q1, leading to weaker full-year guidance

Stock down 6.0% to 1,316p at 8:36

SN’s revenue grew 5% to $1,196m on a reported basis for the quarter ended 31 March 2018, which includes a foreign exchange tailwind of 5%. However, on an underlying basis, Q1 revenue was flat, affected by the sales decline in established markets.

Gloo Networks (GLOO); delisting and voluntary liquidation; to return not less than 47p/share

Stock up 19.87% to 45.55p at 8:01

The board of GLOO, after the comprehensive review, has concluded that return of capital to shareholders is the best outcome.

Implications of Rabat Deep 1 results

Following on from this weeks’ announcement that Eni’s Rabat Deep 1 well offshore Morocco had encountered only limited hydrocarbon indications, partner Chariot Oil & Gas has provided an early set of conclusions regarding the outcome of the well.Under the terms of its farmout to Eni, Chariot was fully carried for the cost of the well.

Accsys Technologies (AXS); revenue increases 8% for the full year ended 31 March 2018

Stock up 4.3% to 80.8p at 8:18

AXS’ total revenue increased 8% to €61m for the year ended 31 March 2018. Accoya’s® sales volumes were up 7%, with a 15% increase in the second half following the resolution of some operational and expansion related matters in the first half.

Avon Rubber (AVON); revenue and adj. operating profit for 6m ended 31 March 2018 up 5.9% and 18.9%

Stock down 0.74% to 1,350p at 8.09

AVON made strong progress through maximised organic sales growth, selective product development and value-enhancing acquisitions.

NetScientific (NSCI); ProAxsis to present new data at ATS 2018 NEATstik®

ProAxsis will be presenting data on NEATstik®, its point-of- care test for monitoring active neutrophil elastase (NE) in chronic respiratory disease. ProAxsis will also present data on a new high sensitivity version of the assay to a US audience at the annual American Thoracic Society conference.

PPHE Hotel Group (PPH); revenues up across all regions (ex-Netherlands) buoyed by higher occupancy

PPH’s total revenue increased 2.9% to £59.4m (up 1.5% to £58.5m on an LFL basis) for the three months ended 31 March 2018. The revenue growth in the UK, Croatia and Germany was partly offset by a decline in revenue in the Netherlands due to renovation in the region.

OnTheMarket (OTMP); increases listing agreements to 7,500 agent branches

Stock up 0.72% to 139.0p at 8:05

As of 25 April OTMP has signed listing agreements with estate agents that have a total of more than 7,500 UK estate agency offices. OTMP also announced that traffic on its property portal rose to 13.7m visits in April 2018 compared to 5.5m visits in April 2017.

Nanoco Group (NANO); launches new business: Nanoco 2D Materials Ltd

Stock up 0.68% to 44.5p at 08.05

Nanoco 2D Materials Ltd (“2D Materials”) is a wholly owned subsidiary of NANO, focused on the development and commercialisation of two dimensional nano-particles. 2D Materials has raised £400,000 funding from The University of Manchester in the form of a 10-year convertible loan note with a 6.5% coupon.