Euromoney Ins.InvPLC (ERM): Acquisition of Extel
Stock up 2.3% (1254p) at 08:14
ERM acquires Extel as part of strategy to create a domestic broker view of research product evaluation in the European market at a time of tremendous market change driven by MiFID II.
Read more...Amur Minerals Corp (AMC): Update on access road to Kun-Manie
Stock down 3.1% (5.33p) at 08:14 on low volume
AMC has engaged JSC Cevi Construzioni to undertake the inaugural step in the design for its near 350km long access road from the Ulak rail station area (on the Baikal - Amur rail line) to the Kun-Manie project site. The first anticipated access road milestone is projected to be due in approximately 8 to 12 weeks.
Read more...Tyman PLC (TYMN): Results of placing to raise approximately £51.5m
Stock down 1.5% (288p) at 08:14 with significant volume.
17,758,620 shares have been placed with institutional investors at a price of 290p per share via an accelerated bookbuild with Canaccord Genuity. Tyman’s 5.3% fall yesterday left the stock closing at 292.5p. The stock is down a further 1.5% this morning. Proceeds will be used to help fund yesterday’s announced $101m acquisition of Ashland Hardware in the US.
Read more...4imprint Group PLC (FOUR): Final results for the period ended 30 December 2017
Stock down 4.6% at 08:20
Organic revenues up 12% to $627.5m and target set for $1bn in revenues by 2022. Underlying operating profit before tax was $42.5m, up by 11% YoY. Dividend increased 11% to 40 cents and a supplementary dividend of 60 cents announced. Trading activity in the first few weeks of 2018 has been encouraging.
Read more...WANdisco Plc (WAND): Preliminary unaudited results for 2017
Stock up 3.3% at 08:20
Bookings up 45%, with big data bookings for WANdisco Fusion up 121%. Revenue for the year increased 73%. WANDisco is still lossmaking but the gap is narrowing and the company generates positive free cash flow. Key partnerships agreed with AWS, Microsoft and other key industry players drive a confident outlook for 2018.
Read more...Tyman PLC (TYMN): Final results 2017 and announcement of equity raise for acquisition
Stock down 4.4% at 08:20
A year of revenue and profit growth with an expected tailwind from US tax changes but margin pressures creeping in. UK market to contract in 2018 but US and European markets to grow. Equity raise of up to 10% of capital to help fund a $101m acquisition in the US.
Read more...Lookers PLC (LOOK): Annual Results for the year ended 31 December 2017
Thin operating margin decreased from 2.0% to 1.8% in 2017 but revenues grew 15%. Profit before tax up 5% after adjusting for the one-off sale of the parts division in 2016, though unadjusted EPS was down 33%. Dividend up 7%. UK new car market shrinking but Lookers grew market share and grew profits from used cars and aftersales. £10m share buyback programme announced.
Read more...Rank Group PLC (RNK): Chief Executive Henry Birch resigns
Stock down 3.3% at 08:20
Henry Birch, Chief Executive of Rank since May 2014, has given 12 months’ notice to resign from the business in order to join Shop Direct as Group Chief Executive. In the meantime Henry will remain in his current role to ensure an orderly handover.
Read more...Rotork PLC (ROR): 2017 full year results
Stock down 4.3% at 08:12
Adjusted EPS and dividend up 6% and 5.9% YoY respectively showing decent underlying growth though IFRS EPS was down 16.9% due to goodwill impairment and restructuring costs. Inflationary pressures which hit costs in 2017 are expected to continue and Rotork expects a 4-5% headwind on both revenues and profits due to currency movements.
Read more...Hutchison China Medi (HCM): Phase Ib/II Trial of Epitinib in Glioblastoma in China
Epitinib has been shown to be well tolerated with encouraging efficacy with an ORR (lung and brain) of 62% in all patients not previously treated with an EGFR inhibitor, and an ORR of 70% in such patients who also had measurable brain metastasis and were c-MET negative
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