Edison Investment Research

Cenkos Securities (CNKS); announces EBT share purchase

In accordance with the trading plan between Cenkos Securities and Zedra Trust Company, Cenkos Securities plc Employee Benefit Trust purchased 249,960 ordinary shares in the company at a price of £0.40 per ordinary share.

Numis Corporation (NUM); revenue decreases 18.0% to £111.6m

Numis Corporation announced its full year results for the year ended 30 September 2019. PBT and EPS decreased 60.7% and 64.9% to £12.4m and 8.8p, respectively. Cash was £84.2m as of 30 September 2019, reflecting trading book movements and cash outflows relating to dividends and share repurchases. Full year dividend was maintained at 12p.

Seneca Global Income & Growth Trust (SIGT); quarterly dividend up 2.4%

Seneca Global Income & Growth Trust announced unaudited results for the six months ending 31 October 2019. The share price total return over the period was -0.8%. It also reported annualised volatility of 6.2% compared with 11.4% for the FTSE All-Share Index.The revenue return of 3.78p for each ordinary share is calculated on net revenue on ordinary activities after taxation for the year of £1,844,000 and on 48,778,099 ordinary shares being the weighted average number of ordinary shares in issue during the period.

Mercia Asset Mgt (MERC); raises gross placing proceeds of £30.0m

Mercia Asset Management has conditionally placed 120,000,000 ordinary shares at the placing price of 25p per ordinary share, raising gross placing proceeds of £30.0m. The completion of the placing is subject to, inter alia, shareholder approval to enable the allotment of the new ordinary shares. The placing shares, once issued, will represent c. 39.6% of Mercia’s existing outstanding issued share capital and c. 27.3% of the enlarged share capital of the company.

Endeavour Mining (EDV); Centamin unanimously rejected offer

Endeavour’s approach to Centamin represents a daring approach to break the logjam in global gold mining. Inasmuch as Endeavour was already paying down debt, it would do so faster when combined with Centamin and Sukari. The merger would also (presumably) result in Endeavour joining the ranks of the dividend payers.

Solid State (SOLI); reported revenue increases of 43%

Solid State announced its interim results for the six months ended 30 September 2019. The company reported return to net cash of £0.3m, led by strong operating cash generation. Adjusted PBT increased 61% to £2.67m, while interim dividend grew 25% to 5.25p. Significant contract wins resulted in a solid group open order book of £37.8m as of 31 October 2019.

Civitas Social Housing (CSH); IFRS NAV/sh up 1.1%

Civitas Social Housing announced its interim results for the six-month period ended 30 September 2019. Annualised rent roll increased to £46.5m, while operating cashflow increased to £16.9m. EPRA earnings (diluted) increased to £14.3m, while EPRA EPS (diluted) rose to 2.29p. Weighted Average Unexpired Lease Term (WAULT) was 23.9 years.

PJSC Transcontainer (TRCN); assets at RUB 71,465m

PJSC TransContainer announced its results for Q3 and nine months ending 30 September 2019. Total revenue for the nine months of 2019 increased 14.4% YoY to RUB 63,762m. Adjusted revenue grew 27.7% YoY to RUB 28,614m due to an 8.7% increase in revenue-generating container transportation volumes, combined with strong pricing environment.

discoverIE Group (DSCV); underlying operating profit up 22%

discoverIE Group announced its interim results for the six months ended 30 September 2019. Group organic sales grew 5%

discoverIE Group announced its interim results for the six months ended 30 September 2019. Group organic sales grew 5% and organic orders increased by 4%. D&M organic sales grew 7% and now account for 63% of group sales. Underlying EPS increased by 11% to 14.4p (H1 2018/19: 13.0p).

Hutchison China Meditech (HCM); announces inclusion of Elunate in China NRDL

Hutchison China MediTech (Chi-Med) announced that Elunate, its national class 1 targeted anticancer drug for the treatment of patients with advanced colorectal cancer (CRC), has been included in the updated National Reimbursement Drug List (NRDL) released by China’s National Healthcare Security Administration (NHSA).