25 Jun 24 Pivoting for growth Companies: IG Design Group plc Canaccord Genuity
25 Jun 24 PROGRESSIVE: IG Design Group: Foundations laid for the transition to a profitable growth strategy IG Design’s FY24 results confirmed another year of significant progress in the second year of its three-year turnaround journey, notwithstanding ongoing macroeconomic challenges. The scene is now set for a transition to top-line revenue growth supporting further leverage of profitability and margins. This move is embodied in the relaunch of the group’s purpose, vision and mission statements, to support execution of the growth strategy launched in the year. Companies: IG Design Group plc Progressive Equity Research
26 Jun 24 Revolution Beauty (REVB LN) - Return to profit in FY24 Revolution Beauty’s FY24 results are in line with Zeus estimates that were upgraded in March. The Group continues to make strategic progress, focusing on its core Revolution Masterbrand and exiting lower margin brands and product categories. With this strategy and bearing in mind that the comparative period included significant clearance sales, revenue is expected to decline YoY in H1 FY25, so we lower forecast revenue in FY25 by 6.7%. Importantly, EBITDA forecasts are unchanged. We continue to Companies: Revolution Beauty Group plc Zeus Capital
27 Jun 24 PROGRESSIVE: Sanderson Design Group: Weakening UK demand adversely affects the full-year profit outlook Sanderson Design Group (SDG) noted in its full-year results announcement in April that trading conditions would likely remain challenging in the current financial year (FY25). Trading conditions in the UK, its largest geographic market, have since deteriorated further in May and June, with UK product sales down 14% in the year to date. Manufacturing activity is in line with last year but below current-year expectations. Consequently, current-year trading performance and profitability are expecte Companies: Sanderson Design Group PLC Progressive Equity Research
26 Jun 24 Morning Note – 26 June 2024 Companies: Intercede Group plc (IGP:LON)Tandem Group plc (TND:LON) Cavendish
26 Jun 24 Tandem Group - AGM Trading Statement Despite various challenges this year, such as increased freight costs, adverse weather, and interest rates remaining persistently high, the Group remains on track to meet market expectations for FY24E. Revenue is up 3% YoY, with some free-on-board (FOB) sales being pushed back by several months due to delayed freight issues. Management has visibility over several imminent, sizable FOB orders which will boost sales, while trading is also skewed towards the summer and Christmas periods. With signi Companies: Tandem Group plc Cavendish
26 Jun 24 LIBERUM: Revolution Beauty: FY'24 - the road to recovery is on track Companies: Revolution Beauty Group plc Liberum
21 Jun 24 Games Workshop Group - FY24 profit estimates beaten Games Workshop Group’s FY24 trading update provided a nice surprise on the revenue side, broadly equally split between core and licensing, and an even nicer surprise for PBT, suggesting an improvement in gross margin. We have upgraded our FY24 estimates to be consistent with the indicated figures and marginally increase our estimates for FY25, which reverts to a 52-week period accounting period. Companies: Games Workshop Group PLC Edison
22 May 24 Dowlais Group - Margin expansion despite mixed auto markets Dowlais Group’s traditional automotive and powder metallurgy operations continue to outperform the market, albeit the slowdown in EV adoption has affected ePowertrain, leading to a marginal reduction in expectations. However, the key remains further progress in operating margins (6.1% in the period, up 30bp) on the journey to c 10%. This margin expansion should drive earnings momentum and subsequently share price performance. Companies: Dowlais Group PLC Edison
24 Jun 24 Allenby Capital TMT Update - 24.06.24 - BIRD.L, CHSS.L, CPX.L, MBT.L Please find below our weekly update covering themes that we feel that are of interest to investors and participants in the small and mid-cap TMT sector as well as commentary on recent newsflow. Companies: CPX BIRD MBT CHSS Allenby Capital
30 Apr 24 PROGRESSIVE: IG Design Group: FY24 results well ahead of expectations – on course to hit operating margin target for FY25E IG Design Group’s trading update for the year ended 31 March 2024 has exceeded market expectations in terms of both profitability and, most significantly, cash generation. The FY24 results confirm the progress the group has made on its strategic journey to simplify the business and improve operational efficiency. Notwithstanding ongoing uncertainty on the economic backdrop and consumer expenditure, the group remains confident of delivering its target of returning to its pre-Covid adjusted operat Companies: IG Design Group plc Progressive Equity Research 25 Jun 24 Hybridan Small Cap Feast - 25 June 2024 25th June 2024* A corporate client of Hybridan LLP** Arranged by type of listing and date of announcement*** Alphabetically arranged**** Potential means Intention to Float (ITF) has been announced, or it is a rumourDish of the dayAdmissions:Delistings:What’s baking in the oven? **Potential**** Initial Public Offerings:ITF announced:19 June 2024: IntelliAM, an artificial intelligence company focused on the consumer goods industry, is preparing to list on the Aquis Exchange on 3 July. T Companies: IGR WYN TRAK AUGM G4M SAE Hybridan
19 Jun 24 LPA Group - Interim results – trading in line with FY24 expectations Interim results were in line with expectations, with challenges continuing with the recently announced rail project delivery delays, which will affect H2 performance as flagged. Revenues advanced, gaining from the Red Box acquisition plus a strong increase in aviation sector trading. No change to forecasts and our target price remains at 105p, offering decent upside to current levels, as recovery helps to move the group back into profitability. Companies: LPA Group Plc Cavendish 30 Apr 24 FY24E margin, profit and cash beat, FY25E on track Companies: IG Design Group plc Canaccord Genuity
20 Jun 24 AKA: Snapping the Store: Building Unique Brands; Retierate Buy, $25 PT We are reiterating our Buy rating, $25 price target and projections of a.k.a. Brands after touring the company's Culture Kings store in Las Vegas and Princess Polly unit in Los Angeles. We believe both locations represent impressive retail units which will allow for continued growth (and high returns) going forward, as a.k.a. expands their retail footprint, with three new Princess Polly stores on track for a 2H24 opening. As such, we remain excited by the potential for the ongoing turn at the co Companies: GPS URBN ITX ANF AEO AEO GES GES ITX GPS ANF URBN Small Cap Consumer Research LLC