Edison Investment Research

Gulf Investment Fund (GIF); Q1 2018 investment report: NAV rises 6.5%

Stock trading flat to 0.95USD at 8:18

For the quarter ending 31 March 2018, GIF’s NAV rose 6.5%. A dividend of three cents per share was paid during the quarter.

discoverIE Group (DSCV); trading update: full-year performance in line with management expectations

Stock flat at 422.0p at 08.04

Group sales for the year increased 15% on a reported basis (11% at constant exchange rates and 6% organically). Group orders for the full year grew 5% organically. The order book stood at £122m as of 31 March 2018

ANGLE (AGL); Parsortix used in successful first ever simple blood test based ex-vivo culture of CTCs

Stock up 10.22% to 50.70p 08:08

The work undertaken by the Robert H Lurie Comprehensive Cancer Center and the Feinberg School of Medicine, Northwestern University, Chicago (Northwestern), demonstrated an optimised workflow for the recovery and culturing of CTCs from a simple blood test to produce an effective ex-vivo culture of the individual patient’s cancer cells.

Ultra Electronics Holdings (ULE); UK’s Serious Fraud Office opens criminal investigation

Stock down 9.44% to 1,257.00p 08:07

UK’s SFO has opened a criminal investigation into suspected corruption relating to Ultra’s business in Algeria.

Rockhopper Exploration (RKH); net working interest production rises to 1.2 boepd in 2017

Stock down 2.04% to 24.00p 08:00

RKH’s revenue rose 40% to $10.4m (2016: $7.4m) and production increased to 1,184 boepd (838 boepd), entirely from the Greater Mediterranean segment.

European Assets Trust (EAT); announces a ten for one stock split

Stock up 0.2% to 1,220.0p at 8:01

According to the resolution passed in the recently concluded annual meeting, each shareholder will receive ten shares with nominal value of €0.10 each for every one share held currently. The record date for the stock split is after the close of trading on 2 May 2018

GB Group (GBG); pre-closing trading statement guides revenue and operating profit growth

Stock up 7.66% to 442.5p at 8:03

GBG expects revenue and adjusted operating profit to grow 37% and 53% YoY, respectively.

Palace Capital (PCA); Palace Capital leases Milton Keynes Office Building to Monier Redland

PCA signed a 10-year lease for Unit 2 (Solaris House) with Monier Redland. The headline rental of £240,000 per annum equates to £16.55 per sq. ft. The effective rent payable is £120,000 per annum until September 2021, after accounting for a rent-free period.

Primary Health Properties (PHP); capital raising: receives commitments for £115m at 108p/share

Stock up 0.64% to 109.50p 8:00

PHP has received valid applications and commitments for £115m against its initial fundraising target of £100m. Subject to approval at the general meeting today (18 April 2018), the company will issue 106,481,482 new shares at 108p each.

De La Rue (DLAR); trading update: expects revenue growth of c6%; cautious on outlook for year ahead

Stock down 1.92% to 482.57p 8:00

DLAR expects revenue growth of about 6% YoY for the year ended 31 March 2018. The company is cautious about the outlook for the next year despite 16% growth in total order intake.