Globalworth Real Est (GWI): Acquisition in Poland
Globalworth has acquired Warta Tower, a 28,000sqm modern office tower in the City Centre West district of Warsaw for €55 million. Contracted revenues are c.€5.9m with occupancy at 92% and a weighted average lease length of c.3.5 years.
Read more...Oxford Biomedica PLC (OXB): 2017 preliminary results
Stock down 0.9% to 12.54p at 08:11
Company still not generating positive operating cash flow but prospects have improved as key contracts signed with well-established partners promise strong revenues in the future and OXB is expanding capacity to cater for rapidly expanding LentiVector demand. A cybersecurity event in March 2018 was reported but OXB does not expect this to materially affect operations. The CFO was replaced in 2017 and the Chief Business Officer is retiring in 2018.
Read more...1Spatial Plc (SPA): 2017 trading update and disposal of Enables IT
1Spatial has sold 80.1% of its holding in Enables IT Group as it sees the division potentially making a loss in 2018. The division contributed £0.5m to adjusted EBITDA in 2017. The core geospatial business has shown a better year than management expectations with higher revenues, margins and adjusted EBITDA, and the Board has great confidence in both the short- and long-term prospects for the company.
Read more...Vernalis PLC (VER): Sale of US operations & possible sale of entire company
Stock up 12.7% to 4.79p at 08:11
US operations no longer viable and Vernalis is currently seeking buyers. Board to decide whether or not to proceed with sale of entire company by end of September 2018.
Read more...EMIS Group PLC (EMIS): 2017 final results
Stock flat at 08:10
EMIS Group’s underlying performance for 2017 was in line with the Board’s expectations, though service level failures to the NHS were a significant detractor from performance in 2017 with reported operating profit down 55%. EMIS Group has made a positive start to 2018 and has already secured revenue for the year ahead amounting to over 90% of the revenue reported in 2017 and believe the NHS incident to be isolated. The annual dividend was raised 10% to 25.8p supporting a positive outlook.
Read more...StatPro Group PLC (SOG): 2017 final results
Stock down 2.4% at 182p as at 08:10
Revenues grew 26% on a constant currency basis to £49.34m, though just 2% from organic growth. Sales activity accelerated in the fourth quarter 2017 as the acquired Delta unit transformed growth. The Group has started the current financial year in line with the Board’s expectations and is on course to show solid revenue and profit growth.
Read more...Marshall Motor Holdings (MMH): 2017 final results
Stock up 6% at 177p as at 08:10
Revenues and profits grew strongly in 2017 despite a weak car market. Sales in used cars and high margin aftersales grew while new car sales shrank. Dividend increased by 16.4% to 6.4p per share. While outlook for the full year remains unchanged, the Board remains cautious about the UK car market in 2018. Chairman resigns and search for a replacement is underway.
Read more...NetScientific PLC (NSCI): Collaboration with BioView Ltd
Collaboration with BioView Ltd represents a critical step for Vortex, NetScientific’s portfolio company, as it moves towards the clinical market. The aim of the collaboration is to provide clinicians with deeper insights into cancer biology.
Read more...Renewi PLC (RWI): Appointment of Non-Executive Director
Stock up 0.4% at 88.12p as at 08:12
Jolande Sap will be appointed to the Board as a Non-Executive Director on 1 April 2018. She will also become a member of Renewi’s Remuneration and Nomination Committees.
Read more...Non-Standard Fin (NSF): 2017 full year results
Stock up 0.9% at 69p as at 08:12
Strong organic growth and growth through acquisition, lower impairment rates and a growing dividend show NSF had a good year after adjusting for exceptional items, while each division has made a good start to 2018.
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