Edison Investment Research

YouGov (YOU); trading for FY 2019 likely to ahead of expectations

Data Products & Services remains a strong contributor to profit

YouGov announced a pre-close trading statement for the full year ending 31 July 2019. The group reports that its trading for FY 2019 is now expected to be comfortably ahead of expectations for the year. Revenue has continued to progress substantially ahead of the global market research sector, according to the company. The group has also achieved another year of revenue and operating profit growth.

Rightmove (RMV); delivers 10% revenue growth

In the New Homes business, growth continues to be very strong at almost 29%

Rightmove has delivered a strong set of interim results with 10% revenue growth, 10% underlying operating profit growth and 12% EPS growth.

Shield Therapeutics (STX); FDA approves Feraccru with a broad label

This is hugely positive

The FDA has approved Shield Therapuetics’ lead asset Ferraccru, for the treatment of iron deficiency in adults. The FDA has granted the broadest label possible which means adults with iron deficiency of any underlying cause can be prescribed Ferraccru (to be marketed as Accrufer in the US). This is upside to our previous assumptions where we had assumed a narrower label and enables a larger commercial opportunity. Shield is in discussion with a number of potential commercial partners in the US who will market Accrufer on its behalf. This is hugely positive.

Entertainment One (ETO); re-confirms multi-year production deal with Mark Gordon

Entertainment One announced that Mark Gordon, an American television and film producer, will continue to develop and produce content for the group through a multi-year producing deal across all its platforms. According to the company, following its successful integration, Gordon will focus on developing and producing content for the group. Steve Bertram will be in full leadership and oversight of the day-to-day management of the film and television business working closely with Peter Micelli and Nick Meyer.

GoCompare.com Group (GOCO); Price Comparison revenue is broadly flat for the first six months

GoCo Group’s interim results show limited revenue growth and profit has been heavily impacted by the investment in the launch of weflip. Group revenue grew by 0.3%, and adjusted operating profit fell from £21m in H118 to £12.5m in H119.

AstraZeneca (AZN); release second quarter results

Sales of $5.72bn were indeed modestly higher than analysts' consensus estimates

AstraZeneca’s second-quarter 2019 results were expected to be the continued reversal of many quarters of negative sales growth, as its new products continued to reverse the sales growth trend that started last quarter.

Tyman (TYMN); revenue increases 10% to £301.9m for H1

Management reports that operating profit will be impacted by the North American footprint-related issues in the current financial year

Tyman announced its results for the six months ended 30 June 2019. Adjusted operating profit increased 10% to £41.9m, while adjusted EPS was flat at 13.14p. DPS rose 3% to 3.85p, in line with progressive policy. Tyman’s 2018 acquisition, Ashland hardware, is on track to generate $5m annual synergy benefits from 2020. The company also acquired Y-cam to support the development of its new Smartware product pipeline.

Low & Bonar (LWB); disposes Needle-Punched Non-Wovens business

Low & Bonar has agreed to dispose its Needle-Punched Non-Wovens (NPNW) business for a cash consideration of €17.3m to Nimbus, a Netherlands-based private equity fund. The disposal will comprise the sale of the entire issued share capital of Low & Bonar NV and Low & Bonar Kft, which are based in Belgium and Hungary, respectively.

Findel (FDL); Studio revenue increases c.3%

Guidance for the full year remains unchanged

Findel announced its trading statement for the 16-week period to 19 July 2019 ahead of its AGM today. Studio revenue grew c.3% against a strong comparator from the prior year (up c.11% in Q1 against a full-year outturn of 8%), with recent weeks showing significantly stronger levels of growth.

De La Rue (DLAR); report expectations for 2019/20 remain unchanged

Performance expected to be heavily tilted towards second half of the year

De La Rue announced today that expectations for 2019/20 remain unchanged from the full year results statement issued on 30 May 2019. The group expects performance to be heavily weighted towards the second half of the year based on its expectations from planned timings of cost cutting initiatives and Product Authentication & Traceability (PA&T).