Panmure note out this morning on Research Tree: "It dropped into my in-tray, harmless click bait I thought. But no, it is a ‘hold the date’ invite from StatPro. It informs that 28 September is for the Revolution Performance launch. This is a big date on UK Fintech’s H2 calendar. This follows news earlier this week that StatPro had inked a banner deal in Australia. The client, unnamed, was to spend £2.3m over a three year term and had committed to buying the new Revolution Performance module. Given that this does not see the light of day until Q3/2016 is a major endorsement."
"The deal between SKY and Vodafone is beneficial for both companies. It provides SKY with the opportunity to broaden its offerings beyond the traditional satellite broadcast market and compete with giants such as Netflix and Apple’s online content service. Moreover, SKY could leverage on the large customer base of Vodafone NZ, covering over 2.35 million mobile connections and more than 500,000 fixed-line connections. The combined group would be one of the largest firms listed on the NZX main board with an expected revenue of NZ$2.9bn. For Vodafone, the deal provides it an easy exit from the market that it had considered non-essential for a long period. Recently, Vodafone extended its partner market agreement with sub-Saharan African telecommunications provider Afrimax Group to cover Zambia. The companies have already partnered to launch 4G services in Uganda, and plan to provide high-speed 4G data services to consumers and businesses in Zambia." Beaufort note on Research Tree
"Bellway continued its growth momentum and performed strongly in all key metrics. The company recorded robust sales, which is reflected by a surge in the weekly reservation rate. Bellway benefitted from the favourable housing market and consumer demand, and was well supported by availability of affordable mortgage finance. The introduction of ‘Help to Buy’ scheme eased the burden of customers to purchase new homes. Customer confidence remained strong, with a low cancellation rate of 11%. Bellway plans to invest the proceeds from the sale of Barking Riverside in additional land opportunities to generate high returns and enhance shareholder wealth. Going forward, the company plans to open a 19th operating division in the North of England in the first half of the next financial year. The company remains on track to meet expectations for the full year, aided by solid forward sales position and a rise in the average selling price." Beaufort note out this morning, scraped off of research Tree
Beaufort's note out this morning on Research Tree: "Earlier this week Jubilee published an update focusing on production rates at its Dilokong chrome tailings operations. The announcement also highlighted the potential to quadruple chrome production now it has operational control of the Dilokong primary concentrator. This 75,000 tonne per month plant needs feeding with run of mine ore, which means Jubilee will be looking to nearby chrome mines for supply. There is some uncertainty as to whether Jubilee will become the permanent operator of the primary concentrator. However, as the current operator, and given its agreement to mine and process Dilokong’s tailings for up to 10 years, we believe Jubilee is well placed to take full control and ownership. This might also include the Dilokong underground mine and would transform Jubilee into a significant chrome player."
SP Angel published a note this morning on Research Tree: "Premier African Minerals reports a loss of $7.86m both before and after tax in 2015 (2014 -$537,000 loss). Premier African has clearly had to address a number of challenging issues on the geology, resources, mining and processing in the development of the RHA tungsten mine. The diversification into limestone and forestry assets in Mozambique could provide an additional source of near-term income.esday, 14 June 2016 when the Company is anticipating being in a position to advise the outcome of these Los Calatos Partnership Process negotiations."
SP Angel published a note this morning: "Metminco Limited advises that trading in the shares of the Company was halted on the Australian Securities Exchange ("ASX") today pursuant to ASX Listing Rule 17.1. The ASX trading halt was requested due to the Company becoming aware that price sensitive information concerning advanced, but incomplete, negotiations regarding the Los Calatos Partnership Process (announced 21 October 2015) may be in the public domain. Company notes that its shares will continue to trade on AIM throughout the period of the ASX trading halt. It is expected that the ASX trading halt will end no later than Tuesday, 14 June 2016 when the Company is anticipating being in a position to advise the outcome of these Los Calatos Partnership Process negotiations. scraped from researchtree
Edison published a note this morning on Research Tree: "Data from two Phase III trials (with 171 and 225 patients, respectively) of Epidiolex in Lennox-Gastaut (LGS) patients are coming soon with the first trial to report out in June with the second coming in Q316. In the latest expanded access program data, Epidiolex reduced atonic/drop seizure frequency by a median of 71.1%. Previous data suggest a placebo response rate in LGS of around 10% which, combined with the size of the trials, indicates sufficient power to demonstrate a difference."
Liberum note out on Research Tree this morning: "Workspace's opportunity to sustain sector leading returns remains well supported by rising rents still at a low base, prospective gains on a significant project pipeline and a service offering positioned for changing trends towards flexible office occupation. While we downgrade earnings by 13% to reflect asset disposals, we upgrade underlying rental growth and NAV by 2%."
AlphaValue's note out this morning on Research Tree: "JD Wetherspoon (JDW) reported Q3 16 results (13 weeks to 24 April 2016) which were slightly better than our estimates. The lfl revenue was up by 3.8% (our estimate: 2.8%) and total sales increased by 5.5% (vs Q2 16: 6.3%, Q1 16: 6.1%; our estimate: 4.6%). The operating margin declined to 6.4% (-110bp yoy, +10bp qoq, vs our estimate: 6.6%) on the back of a c.8% increase in hourly wages since August 2015. On a ytd basis, the lfl revenue increased by 3.2% (-40bp yoy) and total sales was up 5.9% (-200bp yoy)."
"boohoo recorded strong start of the FY2017. The Group expanded revenue across all regions, particularly strong in the UK as its strategy to expand third party sales turned very positive. The expansion in the number of partners helped to build its brand internationally and broaden customer reach. The Group now see 36% of its revenue outside of UK and it continued to gather momentum (given UK sales also growing well). Although increased third party sales along with planned investments in price and customer proposition have reduced the overall gross margin, as expected. Reduced marketing expenditure has offset some of this reduction and the Group said it will continued to work to build customer lifetime value. During the period, number of active customers, order frequency, basket size and conversion all increased, and boohoo continued to broaden its product range, increased fashion appeal and offered attractive prices to customers. With this in mind, together with adjusted EBITDA margin expected to be maintained at 9.6% and Board’s confidence in upgrading full year sales growth of between +25% to +30% (previous guidance stated c.+25%), we think it still has an upside potential at current share price level. We believe worldwide market for internet fashion sales will continues to expand as shopping preferences shift towards convenience and competitive pricing affordable by internet retailers, like of boohoo." Beaufort note out this morning on Research Tree