Edison Sparks - Morning News

Through Sparks, we give you first-impression commentary on breaking news from Edison clients and their peers. Sign up to our daily email for an overview of the key stories in the market today.

8 hours ago • 3 minute(s) read

1Spatial (SPA); announces amendment to Enables IT Disposal Agreement

Post amendment, the exercise price has been brought down to £20,000

1Spatial has announced an amendment relating to the disposal of 80.1% of the issued share capital of Enables IT Group Limited to Champall Consultancy Limited. As per the original agreement, Champall was granted an option to buy the remaining 19.9% interest for an exercise price of £100,000.

Metals & mining
13-02-2019 08:23:48 • minute(s) read

Pan African Resources (PAF); H1 2019 EPS from combined operations expected to be higher

Expected HEPS range is 0.38p to 0.40p per share

For the six-month reporting period ended 31 December 2018, EPS from the group’s combined operations, in GBP terms, is expected to be in the range of 0.38p to 0.40p per share against 0.18p for the corresponding period last year.

06-02-2019 08:45:24 • 2 minute(s) read

OnTheMarket (OTMP); traffic exceeds 23.5m visits on their portal

Growth in property stock and visits together produce record levels of leads for the company’s estate and lettings agent customers

OnTheMarket announced that traffic at its portal in January exceeded 23.5m visits (a new monthly record). The company displayed over 600,000 UK residential property listings. Its UK property stock is already over 80% of Zoopla’s and ~60% of Rightmove’s as of 31 January 2019.

Metals & mining
06-02-2019 08:35:57 • 1 minute(s) read

Amur Minerals (AMC); two of the three QAQC steps to validate Master Data Set completed

ASL results have indicated that the sample is devoid of cross sample contamination or any analytical drift

The steps completed include the acquisition of the original result for each interval sampled and verification that Alex Stewart Laboratory (ASL) can consistently replicate its results internally.

06-02-2019 08:25:23 • 2 minute(s) read

Stride Gaming (STR); trading performance since the start of the year in line with expectations

The group is clearly focussed on winning and retaining mass market recreational customers

Stride Gaming will conduct its Annual General Meeting (AGM) at 9.30am today, where Nigel Payne, the company’s non-executive chairman, will announce the group’s trading performance since the beginning of the financial year. She will say trading has been broadly in line with expectations despite continuous challenging trading conditions.

05-02-2019 09:41:51 • 1 minute(s) read

Indivior (INDV); appeal against lifting an injunction that allows generic competitor denied

The company intends to file an emergency motion with the US Court of Appeals for the Federal Circuit

Pharmaceuticals group Indivior has announced that a US court has denied its appeal against the lifting of an injunction that allows rival Dr Reddy’s Laboratories to launch a generic competitor to suboxone film, its top-selling treatment for opioid addiction.

05-02-2019 08:34:49 • 2 minute(s) read

Ocado Group (OCDO); reports healthy revenue growth of 12.3%

EBITDA declined £15.5m to £59.5m as a result of the costs of developing the Ocado Smart Platform

The fact that an M&S deal wasn’t announced with Ocado’s results doesn’t mean that it isn’t happening. Management says it is “continuing to engage” with multiple retailers in a variety of markets with a view to adding more partnerships to its platform, which could include Marks. Equally, Ocado is stressing that its own ambitions run much wider.

Financials & real estate
05-02-2019 08:24:36 • 1 minute(s) read

Numis Corporation (NUM); reports marginal loss in trading book for first four months of the FY

The company t expects a significant increase in revenue with regard to the UK macroeconomic and political landscape.

Performance of the Corporate Broking & Advisory division was in line with H2 last year, but below the comparative period, whereas average deal fees remained in line with the previous year. Deals transaction volumes and institutional income were both nearly 25% lower than the previous year.

04-02-2019 10:09:31 • 1 minute(s) read

Ryanair (RYA); announces third quarter underlying pre-tax loss of 22.1m

The news comes two weeks after Ryanair cut its full-year profit forecast for the second time

Low-cost airline Ryanair Holdings has announced a third-quarter underlying pre-tax loss of €22.1m and warned that it does not expect fares to rise this summer. The loss, which excludes €61.5m of exceptional charges at its Lauda operations, compares to group profits of €113m in the same period a year earlier. Revenues increased by 9% over the period, to €1.53bn, as passenger numbers advanced by 8% to 33m.

04-02-2019 09:04:30 • 1 minute(s) read

Circassia Pharma (CIR); FDA Pre-submission meeting for Novel Nitric Oxide Product AirNOvent complete

Circassia had acquired the exclusive commercialisation rights for the ventilator-compatible nitric oxide product AirNOvent in USA and China from AIT Therapeutics in January 2019.

04-02-2019 08:24:14 • 2 minute(s) read

Serco Group (SRP); signs £560m contract with Bupa

Full operational service under the new contract will start on 1 July 2019.

Serco has announced that it has signed a £560m contract with Bupa Health Services Pty to support the Australian Defence Force through the provision of National Garrison Health Services (NGHS). The contract has an initial term of six years and up to four, one-year extensions.

04-02-2019 08:19:38 • 2 minute(s) read

Avacta Group (AVCT); announces that Moderna exercised its option for an exclusive product license

According to the agreement terms, the group may receive undisclosed payments upon future clinical development milestones

Avacta Group announced that ModernaTX has exercised its option to enter into an exclusive licensing agreement with regard to certain Affimers. The agreement is against a potential therapeutic target that has been part of an ongoing research collaboration between the two companies.

01-02-2019 08:37:05 • minute(s) read

Baker Steel Res Tst (BSRT); acquires Futura asset for AU$6m

The properties, subject to royalties, contain significant mineral resources at 2.6 billion tonnes of coal

Baker Steel announced the acquisition of 0.75% in Gross Revenue Royalty (GRR) over the future production of coal from the Wilton and Fairhill properties for AU$6m. It also has the option of acquiring 0.25% GRR on Futura’s metallurgical coal assets in Queensland, Australia, for another AU$2m.

01-02-2019 08:19:25 • 1 minute(s) read

Euromoney Institutional Investor (ERM); trading in line with board expectations

Trading continues the previous year's trends, with the full year outlook unchanged.

Euromoney Institutional Investor announced its trading update for the period from 1 October 2018 to 31 December 2018, ahead of the group’s AGM at 9:30am today. Revenue for the three months to 31 December 2018 was £92.6m vs. £100.8m in 2017. That’s after the disposal of the Global Markets Intelligence Division in April 2018.

31-01-2019 09:19:06 • 1 minute(s) read

PPHE Hotel Group (PPH); continues to deliver with a firm end to the year

The current period should see continued material payoff from recent transformative investments

PPHE continues to deliver with a firm end to the year, reinforcing confidence that expectations for 2018 will be met (results due in late February). Disclosure of 5% like-for-like RevPAR growth for the full year suggests c. 8% in the final quarter, which is impressive, as it is not materially boosted by either currency or a buoyant Croatia (Q4 is its low season).

31-01-2019 09:18:59 • 1 minute(s) read

Stock Spirits (STCK); to acquire Distillerie Franciacorta SpA

The purchase price for the business is up to €23.5, a multiple of c. 11.8 on pro-forma operating profit of c. €2m

Stock Spirits is acquiring Distillerie Franciacorta SpA in Italy for a total of €26.5m. The company says this establishes it as the leading branded grappa player in the Italian off trade.

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