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EPIC code: STAF

Staffline – “pleased to report a robust trading and cashflow performance”. What about the significant forward forecast cuts though?!…

By Steve Moore | Tuesday 23 January 2024

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

Previously writing on recruitment and training group Staffline (STAF), in June with the shares at 35p I concluded I was cautious despite a suggested modest prospective earnings multiple considering macroeconomic headwinds, competitive industry dynamics and net debt. A trading update today is headlined “Robust performance delivered full year underlying operating profit in-line with market expectations. Net cash (pre-IFRS 16) significantly ahead of market expectations maintaining ongoing balance sheet strength that underpinned £5 million share buyback programme in 2023”. So what of the shares currently below 23p – including a further more than 7% lower on the back of the trading update?

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Market News

BEN
Bens Creek (#BEN) – another redemption notice from Avani, company continues to consider options “which may include” administration
 21 May 2024, 07:59
XPP
XP Power (#XPP) – possible offers, latest at 1950p per share rejected by board
 21 May 2024, 07:58
SSPG
SSP Group (#SSPG) – H1 results, argues recovery “on track”, restores DPS at 1.2p
 21 May 2024, 07:55
BEG
Begbies Traynor (#BEG) – FY EBITDA “ahead of market expectations”, confident for FY and beyond
 21 May 2024, 07:51
SHOE
#SHOE Zone – H1 EPS up to 5.6p, DPS maintained at 2.5p, notes earnings headwinds
 21 May 2024, 07:48
WINE
Naked Wines (#WINE) – FY adj. revenue -13%, “replacement credit facility process is commencing documentation”
 21 May 2024, 07:43
WRKS
TheWorks.co.uk (#WRKS) – FY LFL sales -0.9%, notes actions taken to offset “significant cost headwinds”
 21 May 2024, 07:40
KGF
Kingfisher (#KGF) – Q1 sales “LFL -0.9% including a +1.9% calendar impact”, FY market outlook “remain cautious”
 21 May 2024, 07:36
EPWN
Epwin (#EPWN) – “revenues to date behind a strong prior year, as expected”
 21 May 2024, 07:32
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Forterra (#FORT) – 4 months revenue -6% YoY, now reckons “greater weighting towards H2 than previously guided”
 21 May 2024, 07:28

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BLND

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Friday »

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SAA

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TGR

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VAST

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SYME

Supply@ME Capital (#SYME) – raises £1.553m at 0.01725p per share with warrants

 

BMV

Bluebird Merchant Ventures (#BMV) – work for declaration of mining feasibility commences at joint venture Batangas gold project

 

EQLS

Equals (#EQLS) – further Takeover panel extension, notes “indicative non-binding” possible offer proposals

 

TCAP

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MSLH

Marshalls (#MSLH) – 4 months LFL revenue -10% YoY, “continues to expect a modest recovery in the second half”

 

VSVS

Vesuvius (#VSVS) – trading in line with expectations, resilience providing continued confidence of delivering FY expectations

 

SPX

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BVIC

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CPG

Compass (#CPG) – H1 adj. EPS +17% to $0.59, DPS +16% to $0.207, raising FY profit guidance

Tuesday »

EBQ

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HEAD

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Bearcast

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CEL

Atrocious Celadon results – that May 10 fundraise explained, it dodged the material uncertainty bullet

 

SND

Sondrel – shares subscription including to fund “transformation plan”, but what is the plan and how well funded is it still?…

 

HZM

Horizonte – is it game over tomorrow?

 

RBG

Revolution updates on refinancing/sales process: the Nightcap spoof is called out

 

ENSI

EnSilica – “pleased to confirm… a strong performance”. Er, what about “the slower economy and the impact that had on the start of new supply contracts”?!

 

ANA

Presenting at conferences does not pay the bills at cash strapped Ananda... it adds to them

 

RBG

Revolution Bars (#RBG) – notes its “restructuring plan”, current alternative proposals wouldn’t result in a financial return to shareholders!

 

VARE

Various Eateries (#VARE) – H1 LFL sales “marginally down”, macroeconomic landscape “continues to require careful navigation”

 

MARS

Marston’s (#MARS) – H1 still even adj. loss, emphasises “encouraging start” to seasonally-stronger H2

 

OTB

On the Beach (#OTB) – H1 return to slight profit, DPS 0.9p, “well positioned for H2”

 

GRG

Greggs (#GRG) – 19 weeks LFL sales +7.4% YoY, FY expectations “remain unchanged”

 

LUCE

Luceco (#LUCE) – Q1 LFL revenue +4.5% YoY, “comfortably in line with market expectations”

 

CURY

Currys (#CURY) – 16 weeks LFL sales +2% YoY, FY adj. PBT expected to be £115-120m (previously “at least £105m”)

 

MIDW

Midwich (#MIDW) – 4 months “organic revenue… in line with the prior year, which is below the board's earlier expectations”

 

HEAD

Headlam (#HEAD) – 4 months to end-April revenue -12.3% YoY, “April did not show the expected seasonal uplift”

 

VOD

Vodafone (#VOD) – FY adj. EPS down to €0.0747, DPS maintained at €0.09, argues is “fundamentally transforming”

Monday »

ENSI

EnSilica – new CFO following a new broker, what’s to follow I wonder?

 

Bearcast

Tom Winnifrith Bearcast: How to keep Magna Carta in suspense!

 

BBSN

Brave Bison – possible all-share offer for Mission Group. “Significantly undervalues” or not?

 

KEFI

Kefi Gold & Copper, at 0.724p, worth up to 5.9p per share: 60 page report

 

BMN

“Someone should put Bushveld out of its misery” - Andrew Monk

 

JWNG

Jaywing – after I previously questioned how supportive the lenders really remained, that now looks about to be tested…

 

BEN

Just why is Ben’s Creek not answering the Fat Lady question?

 

Video: How the Green Promise is Making the West Poorer

 

AMC

Amur Minerals RTO – what nonsense and misleading spivvery is this?

 

ECP

Liam “The Toke” Murray at Cairn: Has Dominic White paid you yet?

 

TMG

Mission Group (#TMG) – board “unanimously rejected” possible offer from Brave Bison (#BBSN)

 

BBSN

Brave Bison (#BBSN) – announces possible offer “formal approach” to Mission Group (#TMG)

 

BEN

Bens Creek (#BEN) – Court approval for “interim debtor-in-possession financing loan” of $2m

 

THR

Thor Energy (#THR) – Australian$1.3m placing at 1.3c per share with share options

 

AMC

Amur Minerals (#AMC) – proposed reverse takeover of drug delivery technology company Extruded Pharmaceuticals

 

ZOO

#ZOO Digital – expects Q1 “EBITDA at break-even”, renewed “up to $3 million” debt facilities

 

CER

Cerillion (#CER) – H1 adj. EPS +8% to 27.6p, DPS +21% to 4p, “well-positioned to deliver its full year targets”

 

VCT

Victrex (#VCT) – H1 adj. EPS down to 27p, DPS maintained at 13.42p, notes some recent end-markets improvement

 

DPLM

Diploma (#DPLM) – H1 adj. EPS +10% to 65.1p, DPS +5% to 17.3p, notes “upgrading guidance”

 

FRP

#FRP Advisory – cash and shares acquisition of commercial finance and risk management group Hilton-Baird

Sunday »

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Sunday Long Reads: Fake Cheerleader Videos, Who can Find Missing People?, Or a Missing Cat?, Visionary F1 Designer

 

Gold

The View From The Montana Log-Cabin As Gold Heads North Again

 

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Professor

Visual Aid: Growth of a $1,000 Equity Investment, by Stock Market

 

Top-10

Notes from Underground – Most read articles for the week ending 11 May

Saturday »

TTG

TT Electronics – AGM trading update, full year outlook unchanged BUT

 

Bearcast

Tom Winnifrith Bearcast: A vital mission possible for you in Cheltenham this July? And off to vote for Eden Golan tonight

 

AAU

Ariana Resources – Dokwe project updated pre-feasibility study further highlights this acquisition’s HUGE potential: BUY

 

HSBA

Catch the Gravy Train to the Bonny Bonny Banks of Old Blighty.

Friday »

Clown

A failed fund manager turned share blogger writes explaining his duff historic macro take

 

BEN

Ben’s Creek PLC - The Fat Lady booked in for next week!

 

ULTP

Ultimate Products – from “continues to trade in line with market expectations” to profit warning in less than 5 weeks!

 

Bearcast

Tom Winnifrith Bearcast: Oi! Cel AI, once a David Beckham promote, statement needed now

 

SYME

Letter to the Financial Reporting Council regarding Supply@ME Capital and auditors Crowe UK

 

IKA

Ilika – quelle surprise! As warned here, after “Capital Markets Day” & “Q&A session for retail investors”… discounted fundraising

 

MTL

Metals Exploration: what sort of clowns run a business this way?

 

MTC

Mothercare: what is the point? Another warning, it’s the balance sheet again!

 

WG

Wood Group – possible bid for a winning share tip

 

SYME

Supply@ME Capital accounts out at last – auditors Crowe to be reported to the FRC

 

Hookers

Tom Winnifrith Podcast: Russia, Ukraine, the American election and Stormy Daniels

 

CEL

Celadon Pharmaceuticals (#CEL) – refinancing, including £2.1m placing at 105p per share

 

IKA

Ilika (#IKA) – proposed £1.7m placing at 28p per share and also up to £1.7m open offer

 

GDR

Genedrive (#GDR) – £2.1m placing at 1.5p per share, also a REX platform offer and an open offer

 

AMC

Amur Minerals (#AMC) – 2023 results and states “anticipates publishing an AIM Admission Document in May 2024”

 

MTC

Mothercare (#MTC) – FY franchise sales -13%, adj. EBITDA “marginally” increased but requiring “refinancing discussions”

 

ULTP

Ultimate Products (#ULTP) – Q3 revenue -7% YoY, profit warning

 

TTG

TT Electronics (#TTG) – cost actions as de-stocking has continued “and is now expected to normalise during H2”

 

SFOR

S4 Capital (#SFOR) – Q1 LFL net revenue -11.7% YoY, notes “client caution”

 

IAG

International Consolidated Airlines (#IAG) – notes Q1 growth, “well-positioned for the summer”

 

RMV

Rightmove (#RMV) – notes “different mix of ARPA and customer numbers” but overall FY financial guidance unchanged

Thursday »

LST

Light Science Technologies – “South Africa Distributor Agreement”, attempted ramptastic?

 

Bearcast

Tom Winnifrith Bearcast: Comrade Brian Basham wins a Beauty Contest for the first time in history

 

DGI

DG Innovate – placing including ‘to support the establishment of a joint venture and other commercial strategies’. Er, for how long will it so “support”?!…

 

Gold

Video: Closing the Gap – Gold Prices, Mining Stocks and When that Disconnect Closes

 

ECK

Eckoh – trading update, further risk to forecasts from elongated sales cycles with new enterprise clients?…

 

SYME

Shares in sister frauds Supply@ME and Regtech both hit new all time lows: Supply still breaching FCA Rules, what is it hiding?

 

AMC

Amur Minerals – a couple of things are niggling me as shareholder action group established

 

BMV

Bluebird Merchant Ventures – shares soar on another farm-out agreement, but looks much further to go

 

AVO

Advanced Oncotherapy: So long, farewell, auf wiedersehen, good night!

 

Clown

A failed fund manager turned blogger explians why the press is always wrong and he is still right to be bullish on UK PLC

 

Pinocchio

Does the Met Office think we are stupid? Hottest April since 1940 claim - Tom Winnifrith

 

AVO

Advanced Oncotherapy (#AVO) – gotcha!, AIM listing cancelled following shares suspension for almost 12 months

 

SONG

Hipgnosis Songs Fund (#SONG) – Concord Bidco not to increase $1.25 per share offer

 

DEC

Diversified Energy (#DEC) – Q1 argues “solid”, but a net loss and still vast debt

 

KEFI

#KEFI Gold & Copper – drilling programmes further confirm potential of Hawiah copper-gold project

 

WG

Wood Group (#WG.) – Q1 revenue -6% YoY, adj. EBITDA +4%, order book +9%

 

BBY

Balfour Beatty (#BBY) – continues to expect an increase in earnings in 2024, “in line with expectations”

 

SYNT

Synthomer (#SYNT) – “while there are signs of improvement in some of our end markets, visibility of a sustained recovery remains elusive at this stage”

 

ITV

#ITV – Q1 revenue -7% YoY, noting impact from “2023 US writers and actors strikes and the weaker demand from free-to-air broadcasters in Europe”

 

BA

BAE Systems (#BA.) – continuing to deliver growth in 2024 “in line with expectations”

 

WOSG

Watches of Switzerland (#WOSG) – acquisition of jewellery business Roberto Coin Inc. for $120m and $10m deferred contingent consideration

Wednesday »

JSG

Johnson Service Group – a trading momentum and calmer costs environment BUY

 

XPF

XP Factory – argues “continued strong performance”, but how “strong” really?…

 

Bearcast

Tom Winnifrith Bearcast: Do I want to catch the Alliance Pharma falling knife on sack Adam Reynolds day

 

PHC

Plant Health Care – argues “strong” trading, sufficiently strong for a more than 25% share price increase response?

 

WCAT

Wildcat Petroleum and South Sudan, spoofery put in context

 

MBT

Mobile Tornado – “contract win” ramptastic, how’s the balance sheet position now?!

 

KEFI

Kefi Gold & Copper – Tulu Kapi project launch progress update, now a compelling STRONG BUY

 

SYME

Technically insolvent fraud Supply@ME Capital breaks FCA Rules yet again: does anybody care any more?

 

OCTP

Gotcha! Oxford Cannabinoid, the crazy name Warwick Philosopher gal clearly did not do maths

 

CHLL

Chill Brands – as thick as two short Yanks: who are they kidding?

 

OCTP

Oxford Cannabinoid (#OCTP) – gotcha!, “Intended Cancellation of Listing”

 

APH

Alliance Pharma (#APH) – further 2023 results delay as “audit process remains ongoing”

 

APH

Alliance Pharma (#APH) – CEO Peter Butterfield to leave, appointment of Nick Sedgwick as CEO

 

LORD

Lords Group Trading (#LORD) – Stuart Kilpatrick to join as CFO on 4th June, Chris Day to step down next week

 

XPF

XP Factory (#XPF) – “double digit like for like growth in the three months to 31 March 2024, in line with the board's expectations”

 

BOO

boohoo (#BOO) – FY increased loss and swing to net debt, argues this year “expects to generate positive free cash flow”

 

JDW

J D Wetherspoon (#JDW) – LFL sales increase slower in latest quarter than company’s year-to-date, though expects FY profit “towards the top of market expectations”

 

DLG

Direct Line Insurance (#DLG) – argues Q1 growth “positive start”, with new leadership team

 

RSW

Renishaw (#RSW) – Q3 update, now expects FY adj. PBT towards lower-end of previous range

 

INF

Informa (#INF) – “delivering at the upper end of guidance range”, increasing share buybacks

Tuesday »

CPX

CAP-XX – argues “current trading on existing products remains strong”, but how “strong” really?...

 

Bearcast

Tom Winnifrith Bearcast: Don't tell me there is no insider dealing in London!

 

Clown

PR Genius Steffi - can someone translate her golden prose into English for me?

 

CMH

BREAKING: Chamberlin – shares suspended with winding up petition court hearing already held… and only announced now?!

 

EDEN

Eden Research terrible finals – what was Jo Hart smoking?

 

BMN

Bushveld Minerals – read between the lines, it is still utterly fecked, target 0p

 

FDEV

Frontier Developments – argues “making strong progress”, so why a bottom-line performance now that dare not speak its name?

 

MMAG

musicMagpie – shares hit new all time low: when will it stop the bid pretence?

 

Clown

Which AIM boss said last week: Why I define success by making myself redundant?

 

Bearcast

Tom Winnifrith bonus bearcast: no longer an insider on Kefi or Bluebird Merchant, oh what a joyous day

 

Crime-Scene

Ex Shard Capital Boss James Lewis gets life ban from financial services & fined £120,300 by the FCA, whose been a very naughty boy then?

 

WCAT

Wildcat Petroleum (#WCAT) – “Update from recent visit by Company to South Sudan” attempted ramptastic

 

EDEN

#EDEN Research – 2023 another loss (natch) after a net £9.1m of new shares issuance

 

ABDX

Abingdon Health (#ABDX) – acquisition of regulatory consultancy support business IVDeology for up to £0.7m in shares

 

MCON

Mincon (#MCON) – “subdued market environment in H2 2023 continued over into the new year… order books have begun to recover”

 

IWG

#IWG – Q1 “underlying quarterly system-wide revenue growth of 2%”

 

KEFI

#KEFI Gold & Copper – “remaining finance syndicate board processes are on track for final (conditional) approvals during May”

 

BMV

Bluebird Merchant Ventures (#BMV) – staged $5m agreement for up to 60% farm-out of Gubong project to production

 

TLY

Totally (#TLY) – “net debt remains unchanged from the interim period end”, “tough operational backdrop”

 

FDEV

Frontier Developments (#FDEV) – FY “now anticipated to be better than previously guided”… but still even adj. EBITDA loss of up to £5m

 

MACF

Macfarlane (#MACF) – Q1 sales -9.5% YoY, “strong gross margins… expectations for the full year are unchanged”

Monday »

ECP

Letter to Liam Murray: trading statement need from Eight Capital – time to admit the ghastly truth

 

Price-Vs-Value

ShareProphets readers tips for 2024 prize competition – early-May bank holiday update

 

NCYT

Legal misunderstanding, short Novacyt

 

ECP

BREAKING EXPOSE: Why Eight Capital’s £26m balance sheet is wholly illusory

Sunday »

Bearcast

Tom Winnifrith Bearcast: you may think I'm still a fat b*stard but I am proud as new weight hit

 

Clown

A failed fund manager turned blogger says UK stockmarket fine, buy equities

 

Gold

The View From The Montana Log-Cabin As Gold Correction Continues And More Dark Clouds Appear

 

Professor

Visual Aid: Which Country Has the Most Billionaires in 2024?

 

Quiz

The ShareProphets Sunday Pub Quiz #239

 

Professor

Sunday Long Reads: Glamping Everest, Who believes those the COVID vaccine harmed?, Hiding in an abandoned department store, Flat as Homeless Shelter, Pilot Errors

 

Top-10

Notes from Underground – Most read articles for the week ending 4 May

Saturday »

Bearcast

Tom Winnifrith Bearcast: May the 4th be with you, especially if you are a Lithuanian regulator

 

TRT

Transense Technologies – project in a new application and directors share buying, BUY

 

GoldfishShark

Video: The End of America’s Hegemony, buy gold and silver sell shares

 

ECP

BREAKING: what is it that Lithuanian Regulators have against Dominic White & £46m capitalized Eight Capital that they are NOT deemed fit and proper

 

SUPR

Supermarket Income REIT – first move in the French market, value income Buy

 

TM17

This Armchair Gaming King Looks Set to Zing Back into Profit Again.

Friday »

Beggar

Photo Article, Lucian Miers almost at the end of a 30 mile training walk in the Grim North

 

WRKS

TheWorks – moves to AIM, but how likely to bolster the reputation of the ‘casino’?

 

Bearcast

Tom Winnifrith Bearcast: Just so sordid

 

PYC

Physiomics – “trading update”, why still a balance sheet position that dare not speak its name?…

 

AVO

Advanced Oncotherapy: The cheque’s in the post or is it?

 

CHLL

Chill Brands: my harshest critics seem to admit that I was telling the truth after all! BTW: When’s the GM

 

Fork-In-The-Road

Video: Oil to $200, buy Gold & Silver

 

CAPD

Capital Limited – a recovering commodities sector BUY

 

ARB

Argo Blockchain: another meaningless update, what is it hiding?

 

SLP

Sylvania Platinum – Q3 report, still a recovery Buy

 

MIRI

Mirriad deeply discounted placing – it's not about accelerating growth it's about accounts sign off

 

ARB

Argo Blockchain (#ARB) – “April Operational Update”, lower mining revenue and doesn’t bother to include bottom-line financials (natch!)

 

MIRI

Mirriad Advertising (#MIRI) – £6.12m placing at 1.25p per share, up to £0.55m REX “retail offer”

 

AGFX

Argentex (#AGFX) – BookBuild Platform “retail offer” of up to £1.85m of shares at 45p each

 

ROAD

Roadside Real Estate (#ROAD) – FY further loss, argues creating an exciting portfolio of roadside real estate assets hmmm

 

WRKS

TheWorks.co.uk (#WRKS) – completes move to AIM from Main Market, confident “will deliver a significant cost saving”

 

FUTR

Future (#FUTR) – Sharjeel Suleman, currently CFO at ITV Studios, to join as CFO

 

DGE

Diageo (#DGE) – CFO at Coca-Cola Europacific Partners, Nik Jhangiani, to join as CFO with Lavanya Chandrashekar to “step down”

 

IHG

InterContinental Hotels (#IHG) – Q1 RevPAR +2.6% YoY, notes changes to System Fund arrangements

 

TRN

Trainline (#TRN) – FY adj. EPS up to 12.3p and new share buyback, argues “opportunity grows”

 

MNDI

Mondi (#MNDI) – Q1 lower EBITDA but notes improving demand and pricing

Thursday »

ELM

Elementis – Q1 update, still a winning share tip with further to go

 

LIFS

LifeSafe – “access to a global market valued at $9 billion annually”. Ramptastic, I wonder why!…

 

Bearcast

Tom Winnifrith Bearcast: I am beginning to think Cirata is a stonking short

 

AGFX

Argentex – this placing is looking messy: I did warn you all

 

KITW

Kitwave – “continues to trade in line with current market expectations for the full year”. Er, does it though?…

 

TEP

Telecom Plus – “towards the upper end of market expectations” from an already winning share tip

 

OPTI

OptiBiotix Health – Slimbiome manufacturing agreement in India, Strong Buy

 

IES

Invinity – the Monkey was half right!

 

SCE

Surface Transforms – “pleased to announce” result of a massively discounted fundraising, I wonder why!…

 

Bearcast

Tom Winnifrith Bonus Bearcast: Nightcap to buy Revolution Bars, you is 'avin' a giraffe La Willingham

 

Trump

Tom Winnifrith podcast: Russia, Ukraine and the American Election

 

Welsh_Flag

Really torn on how to vote today here in Wrexham, Tom Winnifrith

 

RBG

Revolution Bars (#RBG) – two drunks trying to prop each other up?; notes “exploratory meeting with Nightcap” (#NGHT)

 

UKOG

UK Oil & Gas (#UKOG) – “Loan Reduction Update” = more confetti-like shares issuance

 

IES

Invinity Energy Systems (#IES) – £28m conditional placing at 23p per share, with subscription total £56m, and an up to £6.6m open offer

 

AGFX

Argentex (#AGFX) – proposed fundraise for up to £5.09m at 45p per share

 

GPL

Graft Polymer (#GPL) – appointment of Anthony Tennyson as CEO and to lead a review, CEO Victor Bolduev to ‘step down’ to Chief Technology Officer hmmm

 

WIZZ

#WIZZ Air – April booked passengers -0.3% YoY, load factor -0.6ppts to 90.3%

 

RCH

Reach (#RCH) – Q1 revenue -6.7% YoY, notes “deprioritisation of news during 2023 by major platforms”

 

KITW

Kitwave (#KITW) – H1 impacted by lower hospitality demand with “historically high and sustained period of wet weather over recent months”

 

SHI

SIG (#SHI) – four months to 30th April LFL sales -6% YoY, “expectation of an H2 weighting” hmmm

 

TIFS

TI Fluid Systems (#TIFS) – Q1 revenue -2.6% YoY, -0.4% in constant currency, states “ahead of the market”

Wednesday »

SBRY

J Sainsbury – full-year results above guidance range and momentum continuing, Buy

 

Bearcast

Tom Winnifrith Bearcast: thoughts from my Neighbour's Funeral

 

ALT

Altitude – argues “very strong” trading, but what about the bottom-line?

 

DNM

Dianomi – results argue “well placed to drive scale and profitability”, but wasn’t it arguing similarly on 273p per share AIM listing in 2021?!

 

AAU

Just how many lunatics with a financial death wish own shares in Ariana?

 

AML

Aston Martin Lagonda – it is always jam tomorrow, surely still a short, losses running at £17.65 a second

 

COG

Cambridge Cognition – “pleased to announce” Results, Trading Update & Board Change. Er, what’s ‘pleasing’?!

 

HZM

Horizonte announces that its death has been postponed again but the Grim Reaper is still on his way

 

ALGW

Alpha Growth auditor walking and other problems – another GOTCHA for team Sheriff!

 

MAX

MaxRets Ventures and auditors MAH reported to the Financial reporting Council - this is a slam dunk

 

Professor

Sheep farming not the slave trade financed the Industrial revolution! Tom Winnifrith

 

TRIN

Trinity Exploration & Production (#TRIN) – recommended offer from Touchstone Exploration (#TXP) of 1.5 Touchstone shares per share

 

NCYT

Novacyt (#NCYT) – application by DHSC for summary judgment dismissed, trial hearing listed to commence on 10th June

 

SYME

Supply@ME Capital (#SYME) – 2023 loss of above £4m on revenue of just £0.158m, Going concern “material uncertainties” (natch)

 

HZM

Horizonte Minerals (#HZM) – senior lenders waivers extension to 15th May, though “does not believe… likely to recover any value for the company's shareholders”

 

RBG

Revolution Bars (#RBG) – 79.1%, 1p per share, open offer take up, fundraising remains conditional on General Meeting approval

 

JSG

Johnson Service (#JSG) – Q1 organic revenue +8.9% YoY, “positive energy outlook”

 

DOM

Domino's Pizza (#DOM) – Q1 LFL sales -0.5% YoY, “Q2 is another tough comparative period”

 

NXT

Next (#NXT) – 13 weeks full price sales +5.7% YoY, slightly ahead of guidance

 

WIX

Wickes (#WIX) – 16 weeks LFL sales -4.2% YoY, argues in line with profit expectations

 

HLN

Haleon (#HLN) – Q1 organic revenue +3% YoY, actual revenue decline but argues “operating leverage”

Tuesday »

Clown

A failed fund manager turned blogger writes on base rates

 

Bearcast

Tom Winnifrith Bearcast: Feck the NHS, a day of my life and that of Jaya wasted at Wrexham Hospital

 

CRPR

James Cropper – “profitability expected to be slightly ahead of expectations” but omits that expectations were massively lowered in January!

 

CLCO

CloudCoCo – argues “a solid set of results for FY23”. Really?…

 

ESYS

essensys – interims argue “on track”, but is it really?…

 

MAX

BREAKING: Max Rets Ventures and those "intent" to support, you could not make this Dominic White shit up!

 

CARR

Carr's Group – a continuing performance and M&A activity Buy?

 

VCP

Victoria and the share buyback – kicking a man when he is down

 

CGNR

Conroy Gold And Natural Resources – Uh-Oh! The Swanny kiss of death strikes again

 

SYME

The Supply@ME Capital fraud – a former banker explains yesterday’s spoof RNS and where is the Annual Report?

 

CLCO

CloudCoCo (#CLCO) – loan notes extension, CEO change and shares to resume trading on AIM

 

STJ

St. James's Place (#STJ) – Q1 net inflows £0.71bn, closing Funds under Management £179.04bn

 

HL

Hargreaves Lansdown (#HL.) – Q3 revenue +6% YoY, notes Assets under Administration a record £149.7bn

 

WTB

Whitbread (#WTB) – FY adj. EPS up to 206.9p, DPS to 97p, to convert 112 and exit 126 branded restaurants

 

IGR

IG Design (#IGR) – expects FY profit growth ahead of expectations, though revenue -10%

 

CARD

#CARD Factory – FY adj. EPS +11.6% to 13.5p, recommenced DPS of 4.5p, “encouraged” by current year start

 

CRPR

James Cropper (#CRPR) – expects FY “slightly ahead of its previous expectations” and this year a return to growth but “currently seeking temporary covenant adjustments”

 

MCB

McBride (#MCB) – 9 months constant currency revenue +8.2%, anticipates FY ahead of current market expectations

 

ROR

Rotork (#ROR) – underlying order intake “up low single digits”, notes “good visibility into H2”

 

HWDN

Howden Joinery (#HWDN) – 16 weeks to 14th April LFL UK depot revenue +0.5%, International -2.5%

Monday »

ITX

Itaconix – “delighted to announce the launch of two new ingredients”, but how delightful for investors?

 

AAU

Ariana Resources – ‘pleased to announce merger agreement’ - Tom Winnifrith buys more shares and argues a cracking deal, after zoom call with CEO

 

Bearcast

Tom Winnifrith Bearcast: a billion dollar company that is worth NOTHING!

 

UPL

Upland Resources Placing: Evil Banksta bows out of the short team with a loss but only for now

 

ZED

Zenova – argues “significant new order”, but it’s currently still results that dare not speak their name!

 

UKOG

UK Oil & Gas: Death Spiral + need for bailout placing = terminal share price decline, ouzo on ice

 

BIOM

Biome Technologies – Q1 “slightly lower than management's expectations” and “hopeful” of sufficient funding. Hmmm…

 

PFC

Petrofac: Evil Banksta stays short, still targeting 4p after today’s dire news & share suspension tomorrow night

 

DGI

DG Innovate: 39 unauthorised and unreported share trades: Denise Boughtwood needs her bottom spanking, but no P45 needed for Martin

 

SLP

Sylvania Platinum offers good exposure to improving PGM prices longer term - BUY

 

Madness

Photo Article of my kids at their English Chapel: odd one out contest? Tom Winnifrith

 

DGI

DG Innovate (#DGI) – related-party undeclared share trades company investigation

 

SONG

Hipgnosis Songs Fund (#SONG) – higher, $1.30 per share recommended offer from Blackstone

 

KAV

Kavango Resources (#KAV) – proposed £3.09m placing at 1.2p per share

 

TLOU

#TLOU Energy – further placing of “entitlement offer” shortfall shares raising A$0.56m

 

GMAA

Gama Aviation (#GMAA) – 95p per share, up to £32.6m, tender offer and proposed AIM cancellation

 

PFC

Petrofac (#PFC) – notes proposal for “significant” debt to equity conversion, auditor results delay shares suspension on 1st May

 

VAST

#VAST Resources – argues “advanced stage” restructuring finance discussions, though “subject to the provider finalising their own financing arrangements”!

 

BIOM

Biome Technologies (#BIOM) – Q1 revenue -44% YoY, argues “slightly lower than management's expectations… confident that the group will achieve its expectations for the 2024 full year”. Hmmm

 

DPP

DP Poland (#DPP) – Q1 Poland LFL system sales +17.9% YoY, also to continue Croatia expansion

 

CTG

Christie (#CTG) – 2023 swing to loss and DPS down to 1p, argues “encouraging” current activity levels

Sunday »

Gold

The View From The Montana Log-Cabin As Gold Corrects, Sort Of, Whilst Clouds Gather

 

Bearcast

Tom Winnifrith Bearcast: the FRC being proactive on Regtech, here is how the end game plays out

 

TNT

BREAKING: Has Tintra, the AIM Company of the year 2022 and a total Norfolk, been wound up for real this time?

 

RTOP

Letter to the Financial Reporting Council: Auditors LB Group & the fraud Regtech Open: ref relevant experience

 

Professor

Sunday Long Reads: Obituary Pirates, Heiress Art Heist, Taliban Social Media, Gagging Trump, Columbia University’s Liberated Zone

 

Quiz

The ShareProphets Sunday Pub Quiz #233

 

Professor

Visual Aid: The World’s Top Media Franchises by All-Time Revenue

 

Top-10

Notes from Underground – Most read articles for the week ending 27 April

Saturday »

Bearcast

Tom Winnifrith Bearcast: So what if UK listed companies go abroad? I blame the greed of the City

 

Clown

A failed fund manager writes again ( not me silly, it's the blogger Neil Woodford)

 

RTOP

Reg Tech Open Project - the auditor fiasco, a letter to the new bean counters, they have been warned!

 

REAT

React Group – first-half “growth across all three divisions”, Buy

 

SPA

This Slick Data Gatherer Could Gather Some Share Value in this Evermore Complex Digital World.

Friday »

CAR

Carclo – ‘exceeded expectations’ trading statement arguing “now enjoys a strong financial foundation”, fooling itself or trying to fool everyone else?

 

Bearcast

Tom Winnifrith Bearcast: Farewell and RIP Miles Stuart-William

 

THRU

Thruvision – trading update emphasises expects to “reach profitability in the short-term”. Hmmm, how short is the term?…

 

GoldfishShark

Video: We are Experiencing Precious Metals History

 

AAU

Ariana – More Thoughts On Yesterday’s Surprise Move

 

Bearcast

Tom Winnifrith Bonus Bearcast No 2 - a long Zoom call with Kerim Sener and buying more Ariana shares

 

FRES

Fresnillo – Q1 production ‘in line with expectations’, sector recovery-underway Buy

 

Bearcast

Tom Winnifrith Bonus Bearcast No 1 - the case for Renationalisation

 

VLX

Volex – a trading resilience BUY

 

IEC

Investment Evolution Credit from mad to worse, more whacky backy for Liam Murray

 

AAL

Anglo American (#AAL) – rejects offer proposal from BHP Group as significantly undervaluing it and its future prospects

 

APH

Alliance Pharma (#APH) – to now publish delayed 2023 results on 8th May

 

CHSS

World Chess (#CHSS) – 2023 loss up to €4.7m, current cash down to €220,122!

 

LGRS

Loungers (#LGRS) – notes FY growth including sales +7.5% LFL, expects EBITDA “ahead of market expectations”

 

THRU

Thruvision (#THRU) – FY revenue fall argues from single customer, increased even adj. EBITDA loss

 

CAR

Carclo (#CAR) – H2 trading exceeded expectations, but net debt still above £30m

 

BRCK

Brickability (#BRCK) – expects FY LFL revenue -c.18%, “activity levels in the sector remaining subdued”

 

REC

Record (#REC) – Q4 AUME up to $102.2bn, though net flows -$0.1bn

 

PSON

Pearson (#PSON) – Q1 adj. sales +3% YoY, though relying on H2 acceleration of growth to achieve FY guidance

 

SNR

Senior (#SNR) – Q1 constant currency revenue +7% YoY, continues to anticipate FY “good growth… in line with its expectations”

Thursday »

VNET

Vianet – emphasises contract win & trading momentum, but how much is already priced-in?…

 

AAU

Ariana – Surprise!

 

Bearcast

Tom Winnifrith Bearcast: What Argo Blockchain hides in the small print

 

KMK

Kromek – ‘pleased to receive’ new nuclear security contract, how pleasing really is it though?…

 

CTAI

Catenai – this is bonkers: Liam Murray on the funny fags again?

 

TRI

Trifast – “expected to be marginally ahead of guidance”. Er, that which was massively downgraded since its half-year?…

 

TERN

Tern: is this an admission that it deceived investors (again) on 12 April?

 

Bearcast

Tom Winnifrith Bonus Bearcast: the Ariana Zimbabwe merger and M&A activity among gold miners, is it yet a frenzy?

 

DISP

Dispensa the last rats jump: a preview of how the frauds Supply and Regtech will fail

 

CORO

James Parsons given the order of the boot – Coro suspended: and there is more to come

 

AAL

Anglo American (#AAL) – all-share offer proposal from BHP Group, currently reviewing with its advisers

 

AAU

Ariana Resources (#AAU) – conditional all-share agreement to acquire Rockover Holdings and to seek dual-listing on Australian Securities Exchange

 

ARB

Argo Blockchain (#ARB) – 2023 even operating loss of $19.4m, notes Q1 2024 net debt of $41.6m

 

LSEG

London Stock Exchange (#LSEG) – Q1 adj. organic income +6.4% YoY, “on track to deliver all financial guidance”

 

SMWH

WH Smith (#SMWH) – H1 adj. EPS +5% to 24.4p, DPS up to 11p, “good start to the second half”

 

ULVR

Unilever (#ULVR) – Q1 “underlying sales” +4.4% YoY, FY outlook unchanged including “modest improvement in underlying operating margin”

 

SBRY

J Sainsbury (#SBRY) – FY adj. EPS -4% to 22.1p, DPS maintained at 13.1p, expects “profit leverage” in year ahead

 

PSN

Persimmon (#PSN) – Q1 “in line with expectations”, recent “robust visitor numbers and enquiries”

 

IBST

Ibstock (#IBST) – Q1 adj. EBITDA in line with expectations though only with cost reductions, argues recent lead indicators suggest some demand improvement

 

TPK

Travis Perkins (#TPK) – Q1 revenue -4.9% YoY, -3.7% LFL, “macroeconomic uncertainty continues to impact demand”

Wednesday »

AOM

ActiveOps – trading update, building on “strong foundations established since IPO”?

 

Bearcast

Tom Winnifrith Bearcast: Dirty tricks by the Tirupati board or just a total moron?

 

SRT

SRT Marine Systems – “remains in line with market expectations”, what those which were recently downgraded? And now with possible problems in the Philippines…

 

STX

I’d be nervous ahead of Shield Therapeutics results on 30th April

 

FTC

Filtronic – trading and “strategic agreement” announcements, was I too cautious to have just had the shares on the watchlist?

 

MEX

Tortilla Mexican – I just do not understand what Lucky Luke Johnson is playing at!

 

AAZ

Anglo Asian Mining – Q1 update, expects to receive a transformative permit “shortly”

 

TGR

BREAKING: Sack the board call at Tirupati by a serious team

 

VID

Videndum – 2023 results, argues “strong” confidence in post-strikes recovery… but still currently below expectations!

 

CAPD

Capital Limited – Q1 update, an already winning share tip with further to go

 

Welsh_Flag

The Welsh just like being spanked by Nanny State at 20 mph – reports from the last village in Wales: Tom Winnifrith

 

MEX

Tortilla Mexican Grill (#MEX) – 2023 another loss and net debt

 

G4M

Gear4music (#G4M) – FY sales -5%, argues reflects prioritisation of margins

 

JET2

#JET2 – pleased with progress, but “recently, pricing has been more competitive”

 

NICL

Nichols (#NICL) – Q1 revenue -5.9% YoY, argues still “well placed to deliver profitable growth”

 

PZC

PZ Cussons (#PZC) – Q3 LFL revenue +6.4%, but at reported FX -23.7% “primarily as a result of the devaluation of the Nigerian Naira”

 

RKT

Reckitt Benckiser (#RKT) – Q1 LFL net revenue +1.5% YoY, but more than offset by FX headwinds

 

BNZL

Bunzl (#BNZL) – Q1 LFL revenue -5.4% YoY, argues “strategic progress”

 

ABDN

abrdn (#ABDN) – Q1 AUMA up to £507.7bn, “actions underway to address outflows in Adviser and equities”

 

LLOY

Lloyds Banking Group (#LLOY) – Q1 net income -9% YoY and post-tax profit down to £1.2bn

 

BREE

Breedon (#BREE) – Q1 LFL revenue -9% YoY, “economic landscape remains uncertain”

Tuesday »

Clown

A failed fund manager insists Government Finances are in great shape whatever we doomsters say

 

Bearcast

Tom Winnifrith Bearcast: is it racist to wish you a Happy St George's Day?

 

IKA

Ilika – “Capital Markets Day and Trading Update”, attempted ramptastic and cash burn?…

 

JAY

Bluejay Mining, I am confused, surely it and disgraced Nomad SP Angel are not telling porkies (again)?

 

ROAD

Roadside Real Estate (ex-Barkby Disaster) – Still Suspended (No Accounts) But A Bonkers Refinancing

 

TBLD

tinyBuild – 2023 results argue “has the capability to deliver over the coming years”. Does it though?…

 

AVCT

Avacta: Now just 43.75p and I am still sitting on the fence with Evil Banksta

 

Gold

Gold suffers largest 1 day drop in 14 months, "don't panic" says Ross Norman

 

88E

Gotcha: 88 Energy ‘ fesses to placing at just 0.16p but it naturally misleads investors

 

BATS

Scrap the BAT dividend – its not as daft as it sounds

 

Bear

Photo article: it's grim up North as Lucian ramps up the training

 

Welsh_Flag

Every Year this happens in the garden here at the Welsh Hovel - Tom Winnifrith

 

88E

88 Energy (#88E) – proposed placing as per @tomwinnifrith, @shareprophets, but only “up to A$9.8 million” despite a 40% discount!

 

BEN

Bens Creek (#BEN) – notes a General Meeting requisition “to discuss the operational and strategic challenges”

 

BEN

Bens Creek (#BEN) – “debtor-in-possession” financing update following commencement of Chapter 11 Bankruptcy Court cases

 

JUP

Jupiter Fund Management (#JUP) – Q1 AUM up to £52.6bn, but £1.6bn net outflows

 

RWS

#RWS Holdings – expects H1 adj. PBT down to approx. £45m with some “ongoing headwinds”

 

GBG

GB Group (#GBG) – expects FY adj. Op profit of approx. £61.2m, “driven by a focus on simplification and cost-effectiveness”

 

TW

Taylor Wimpey (#TW.) – notes net private sales 0.73 per outlet per week (2023: 0.75), states positioning for growth from 2025

 

THG

#THG – Q1 “continuing revenue” +4.5% constant currency, +2.1% actual YoY, expectations “remain unchanged”

 

ABF

Associated British Foods (#ABF) – H1 EPS up to 87.4p, DPS to 20.7p, “on track to deliver… ahead of expectations”

 

JD

JD Sports Fashion (#JD.) – proposed acquisition of US sports fashion retailer Hibbett, Inc. for $1.11bn Enterprise Value

Monday »

88E

BREAKING: 88 Energy has been trying to get a A$20 million placing away - City Source

 

MIND

Mind Gym – emphasises “significantly improved second half performance”, but sufficiently improved for the valuation?…

 

Bearcast

Tom Winnifrith Bearcast: No Comrade Brian Basham you are a crackpot commie and wrong about capitalism

 

LSE

The London Stock Exchange bats for More Lesbian Visibility or is it less?

 

MTEC

Made Tech – “awarded £19.5m new contract”. Is it to be £19.5m though and should it could command a near 46% share price rise?…

 

TM1

Technology Minerals hooks up with a right Wanke – smoke and mirrors disposal, $10m my arse!

 

AFRN

Aferian – “positioned… on the strongest possible foundation for the future”. Er, what about the trading warning, maturing banking facility & upcoming lack of CEO?!

 

Bearcast

Tom Winnifrith Bonus Bearcast: the chatroom gerbils rush to defend bent CEO Russel Fryer of Critical Metals

 

PFC

Keep Selling Petrofac, the Shoe is Dropping this is free money!

 

CHLL

Chill Brands CEO suspended on insider dealing allegation but is this all it seems?

 

CRTM

Why is Russell Fryer not being fired as CEO of Critical Metals PLC?

 

CHLL

Chill Brands (#CHLL) – CEO Callum Sommerton suspended, allegations “around the use of inside information”

 

TYMN

Tyman (#TYMN) – recommended cash and share offer from Quanex

 

SONG

Hipgnosis Songs Fund (#SONG) – improved takeover proposal from Blackstone which “would be minded to recommend”, providing access to confirmatory due diligence

 

APH

Alliance Pharma (#APH) – “auditor, Deloitte LLP, has requested additional time to finalise”, 2023 results further delayed to “early May”

 

AFRN

Aferian (#AFRN) – “further deterioration in the trading of the Amino business”, “in advanced discussions with its lenders”

 

MIND

#MIND Gym – emphasises H2 improvement, though “continuing to see delays in decision making and scaling back of projects”

 

CER

Cerillion (#CER) – H1 update, “strong demand… remains well-placed to meet market expectations”

 

PAY

PayPoint (#PAY) – anticipates FY adj. pre-tax profit “in line with expectations”, share buyback programme “under active consideration”

 

ELIX

Elixirr International (#ELIX) – 2023 adj. EPS +22% to 37.2p, DPS +37% to 14.8p, “momentum has continued into FY24”

 

JTC

#JTC – proposed $21m acquisition of trust administration services business from JPMorgan Chase Bank

Sunday »

Bearcast

Tom Winnifrith Bearcast: DCI Advisors - dirt cheap shares or a £42m big fat Greek zero?

 

Gold

The View From The Montana Log-Cabin As Gold Presses $2,400 Again

 

BEN

Just how stupid are some shareholders in Ben’s Creek? Words fail me

 

Professor

Sunday Long Reads: Rich People Don’t Eat, Smuggling into North Korea, Making of Modi, Woke Radio

 

Quiz

The ShareProphets Sunday Pub Quiz #237

 

Professor

Visual Aid: Top Countries By Forest Growth Since 2001

 

Top-10

Notes from Underground – Most read articles for the week ending 20 April

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