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EPIC code: VLX

Volex – a recovery Buy? You Bet!

By HotStockRockets | Friday 26 May 2023

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.

Shares in power and data transmission products company Volex (VLX) have performed well over recent months, though are still up less than 13% this year and down from above 340p at the start of last year having been higher during that year. Considering the valuation and a recent positive trading update, we rate the shares a BUY and suggest a return to above a 350p share price is quite realistic.

A prior falling share price seemed to reflect investor nervousness on the company’s trading amidst an edgy stock market. However, a trading update last month noted;

“Volex has continued its positive momentum and demonstrated further progress during the year, reflecting its compelling positions in attractive markets with strong structural growth characteristics. Revenue is now expected to be at least $710 million, representing an increase of at least 15.5% compared with the prior year. Underlying operating profit is now expected to be at least $66 million, at least 17.4% higher than the prior year, with both revenue and underlying operating profit ahead of market expectations… the group is well positioned as we enter the new financial year.”

There is also pre-IFRS 16 net debt expected to be approximately $76 million, though “operating free cash flow in the second half of the year was substantially higher than the first half. After capital investment, dividend payments and acquisition consideration of approximately $46 million in the year, pre-IFRS 16 net debt is expected to be… reduction of $22 million since the half year”. This reassures and is also despite an adverse impact of post-pandemic demand normalisation in the consumer electricals sector. It is noted that this is being largely offset by market share gains and the overall outlook confidence seems well-placed with exposure to growth markets such as electric vehicles, complex industrial technology and medical.

There is also noted benefit from the continued expansion of the offering and a refocusing of supply chains on service and locality with the company having a global footprint. There are forecasts for year ended 2nd April 2023 earnings per share of below 27.5p to increase towards 29p this year, but the latest trading update suggests an ability to outperform.

It has already been followed by an annualised revenue expected to exceed $30 million electric vehicle power products contract at the company’s expanding Tijuana, Mexico, facility – with this a noted localisation of manufacturing footprint and also “significant new capacity in India, Poland and Indonesia, expanding production capabilities in order to support increased demand from customers looking for more localised supply chain partners”. As such, we believe a return to above a 350p share price - possibly still a below 12x price/earnings multiple - is quite realistic and at up to 290p targeting above 350p on further contracts and trading performance delivery, BUY.

This article first appeared on HotStockRockets - to catch the share tip of the month, our best idea right now, from the HotStockRockets team OUT THIS AFTERNOON for just £6.06 click HERE

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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

Saturday »

Bearcast

Tom Winnifrith Bearcast: cat update and Neil Woodford what he says is wrong and he just has no moral platform

 

JLP

Jubilee Metals – Q3 chrome record but PGM and copper production lower, still a STRONG risk reward BUY

 

ASOS

A reader writes on the topic of debt and ASOS.

 

Clown

A failed fund manager writes about how well Britain is doing

 

ICON

BREAKING: Iconic – Toxic Dave Sefton strikes again

 

AO

With TV's, Washing Machines and Laptops Relishing a Probable Revival, Take a Gander at this Growing Online Telly Seller.

 

Boom

Mark Menzies: The Tory MP who “disputes” the Grindr blackmail misuse of funds reports – its like dealing with stockmarket villains, Tom Winnifrith

 

Beggar

The cat and I both visit the doctors, it is my bank balance left writhing in agony - Tom Winnifrith

Friday »

CEY

Centamin – Q1 production lower, but a now production and sector recovery Buy

 

XSG

Xeros Technology – “pleased to announce” retail offer closing result, fooling itself or trying to fool everyone else?

 

TEP

Telecom Plus – an income and capital growth recovery Buy?

 

Bearcast

Tom Winnifrith Bearcast: after Cheryl, I add Miss Israel, India and Iceland to the list

 

NEXS

Nexus Infrastructure – argues half-year “good progress”, but how good really?…

 

Tom Winnifrith Bonus Bearcast: I win at Sam Antar's game of fraudster

 

BRK

Brooks Macdonald – wealth management sector value?

 

CHLL

Alan Green and the Chill Brands loons on twitter, they just don’t get it!

 

BPM

B.P. Marsh & Partners – further upside from a winning share tip

 

NGHT

Video Exclusive: Sarah Willingham of Nightcap goes bonkers & accuses "obsessive" Tom Winnifrith of spreading fake news

 

Greek Tear

Photo Article: The pool opens at luxury and isolated Greek villa May 1 - now just eight weeks unbooked until November, Tom Winnifrith

 

SLWD

Silverwood Brands (#SLWD) – delayed restoration of trading as awaits Capital Reduction Court order to be registered by the Registrar of Companies

 

NCYT

Novacyt (#NCYT) – DHSC Pre-Trial Review listed to be heard on 30th April, with also a DHSC application for summary judgment

 

JAY

Bluejay Mining (#JAY) – intends to expand to include helium, industrial gases and hydrocarbons, attempted ramptastic

 

PRE

Pensana (#PRE) – FSDEA loan facility extension discussions to tie-in with the anticipated finalisation of main financing

 

SDX

#SDX Energy – agreement for sale of West Gharib asset for estimated $6.6m

 

QED

Quadrise (#QED) – Valkor project initial oil well expected to commence drilling next week

 

CPH2

Clean Power Hydrogen (#CPH2) – 2023 £4.1m loss, cash down to £8.5m

 

NEXS

Nexus Infrastructure (#NEXS) – H1 update, notes increased order book but “challenging market conditions persist”

 

EMG

Man Group (#EMG) – Q1 net flows -$1.6bn, but AUM up to $175.7bn

 

888

#888 Holdings – Q1 revenue -3% YoY, though emphasises “continuation of positive sequential quarter-on-quarter trends”

Thursday »

PODP

Pod Point – “pleased to announce… ahead of guidance for revenue and adjusted EBITDA”. Er, what about the initial guidance though?!

 

Bearcast

Tom Winnifrith Bearcast: Has Leon at Jubilee slipped up one time too many?

 

THS

Tharisa – Q2 update, still a recovery Buy

 

IMB

Imperial Brands – half-year trading update, a value Buy?...

 

Gold

Video: Will the Dollar or Bond Market Be Sacrificed First in the Next Crisis?

 

HOME

Home REIT – surely it is having its cake and eating it as lawyers letters fly

 

CYAN

CyanConnode – appointment of a joint broker “with immediate effect”. Why might that be?

 

PPP

Horse Hill – time for Pennpetro and UK Oil & Gas to ‘fess, the farm in is not going to happen!

 

ZED

Zenova – broker and auditor changes, yet more red flags!

 

CHLL

Swanny wants boardroom change – EGM called for Chill Brands

 

Christopher_Booker

Another day and another Tory MP in a sex and corruption scandal – I think again of Christopher Booker of Private Eye and 1963, Tom Winnifrith

 

HOME

#HOME REIT – issued and received pre-action letters of claim, “intends vigorously to defend”

 

SONG

Hipgnosis Songs Fund (#SONG) – $1.16 per share recommended offer from Concord Chorus

 

AJB

AJ Bell (#AJB) – notes Q2 growth, platform market opportunity “remains significant”

 

CARR

Carr's (#CARR) – H1 adj. EPS -4% to 4.8p, DPS up to 2.35p, process to “maximise shareholder value” from Engineering division

 

VLX

Volex (#VLX) – expects FY adj. Op profit “slightly ahead of analyst expectations”

 

EZJ

easyJet (#EZJ) – expects H1 reduced adj. loss to £340m-£360m, demand “continues to build well for summer”

 

DNLM

Dunelm (#DNLM) – Q3 sales +3% YoY “driven by volume”, expects FY “broadly in line with market expectations”

 

RNK

Rank (#RNK) – Q3 LFL net gaming revenue +6% YoY, expects FY in line with expectations

 

FOXT

Foxtons (#FOXT) – Q1 revenue +9% YoY, “trading in line with management's expectations”

 

ROO

Deliveroo (#ROO) – Q1 gross transaction value +5% YoY, FY guidance maintained

Wednesday »

TST

Touchstar – 2023 results, “another period of improved financial performance” so why the share price fall in response?...

 

Bearcast

Tom Winnifrith Bearcast: I just don't see the attraction of ASOS

 

SPEC

Inspecs – 2023 results state “continuing to perform well”. Er, what about the end of year profit warning?!

 

TERN

EXPOSE: Wyld – why is Tern exercising fewer T04 warrants than Jonathan Swann when it claims it has a much larger shareholding?

 

GoldfishShark

Video: There is no bubble in gold

 

GCM

I'd be amazed if the GCM Resources Phulbari project ever gets sanctioned given the impact on the environment and local people - avoid

 

SCE

Surface Transforms – “2024 Sales Outlook” down from just last week! And what about the balance sheet position that dare not speak its name again?

 

ONT

Oxford Nanopore from £3.7 billion at IPO to £846 million, I'm massively vindicated but is it still a short?

 

SYME

The Supply@ME Capital and Regtech frauds see shares plunge to new lows, with endgame imminent does the Fat Lady speak Italian?

 

MMAG

Non-disclosure: it’s what they are not saying but does anyone give a FF about the rules anymore?

 

Gagged

The Cass Report – on the transgender walk of shame must be Bath Spa University: TomWinnifrith

 

Gagged

Oxford University's Diversity Boss does not believe in free speech for those who engage in WrongThink - Tom Winnifrith

 

SCIR

Scirocco Energy (#SCIR) – proposed AIM cancellation following rebel General Meeting succeeding

 

EQLS

Equals (#EQLS) – Takeover Panel further extension to 5pm 15th May, with discussions and due diligence “ongoing”

 

LIO

Liontrust Asset Management (#LIO) – FY AuMA £27.8bn, Q4 net outflows £1.2bn

 

HTG

Hunting (#HTG) – “positive start to the year… marginally ahead of management's expectations”

 

SFR

Severfield (#SFR) – expects FY “slightly ahead of expectations”, “seeing an improvement in market conditions”

 

DLAR

De La Rue (#DLAR) – expects FY adj. Op profit “in line with guidance previously given, in the low £20m range”, intends ‘optimising intrinsic value’ update by end-May

 

SAGA

#SAGA – FY emphasises increased adj. profit but still statutory loss, net debt £637.2m

 

ASC

ASOS (#ASC) – H1 increased loss on sales -18% YoY, though argues restructuring “progress” including appointment of new CFO Dave Murray

 

WINK

M Winkworth (#WINK) – 2023 EPS -15% to 13p, DPS +6% to 11.7p, argues “excited by the outlook for the current year”

 

JET

Just Eat Takeaway.com (#JET) – Q1 gross transaction value -2% YoY, states reiterates full-year guidance

Tuesday »

PFC

Fitch downgrades Petrofac to 'CC'; Removes RWN: this is damning

 

BOWL

Hollywood Bowl – argues ‘strong growth’, but how “strong” really?…

 

SOS

Sosandar – Full Year Trading Update Misses Targets

 

Bearcast

Tom Winnifrith Bearcast: The shocking sense of of entitlement of this prat from Wales

 

MRK

Marks Electrical – “a fast-growing online electrical retailer”… growing much more slowly now?…

 

SDRY

Superdry – more ouzo for the bears but time to close your short ahead of Julian Dunkerton "rescue" and delisting

 

SEED

A confused shareholder in SEED Innovations writes…

 

DOCS

Dr. Martens – trading warning & CEO Kenny Wilson has so much outlook “confidence”… that he’s decided to leave!

 

UKOG

UK Oil & Gas – Think the unthinkable, might its bailout placing fail?

 

Bitcoin

Buy to the sound of gunfire and sell to the sound of trumpets (I've gone long bitcoin)

 

Bearcast

Tom Winnifrith Bonus Bearcast: Ben's Creek Post Mortem, name the names of shame, learn the lessons

 

CTO

TClarke (#CTO) – recommended 160p per share offer from Regent Group

 

SMDS

DS Smith (#SMDS) – recommended 0.1285 International Paper Company shares per share offer

 

MORE

Hostmore (#MORE) – proposed all-share reverse takeover of its franchisor TGI Fridays, Inc.

 

SDRY

Superdry (#SDRY) – proposed “restructuring plan”, equity raise and shares delisting

 

DOCS

Dr. Martens (#DOCS) – FY update and current “outlook is challenging”

 

SOS

Sosandar (#SOS) – FY expects £0.2m loss, argues “several shops identified in top tier locations”

 

BOWL

Hollywood #BOWL – H1 notes revenue growth and “confident about the outlook for the business in FY”

 

RWA

Robert Walters (#RWA) – Q1 constant currency net fees -16% YoY, “client and candidate confidence is at low levels”

 

HAS

Hays (#HAS) – Q3 LFL net fees -14% YoY, “market conditions remained challenging through the quarter”

 

BME

B&M (#BME) – FY “volume growth led delivery at the top end of guidance”

Monday »

BEN

BREAKING: Ben’s Creek US operations file for Chapter 11, shares a zero!

 

PAGE

PageGroup – argues “resilient performance”, but are the declines really “resilient”?…

 

Bearcast

Tom Winnifrith Bearcast: The next shoe to drop is Petrofac

 

TM1

Technology Minerals: shares fall another 10%, two explanations offered

 

EGT

Podcast: Cathal Friel and Aiden Lavelle of European Green Transition interviewed

 

EXR

Engage XR – “pleased to announce” 2023 results. Should it be?…

 

WCAT

Wildcat Petroleum…oops a daisy, when will the FCA end this farce?

 

EISB

East Imperial – hopefully my refinancing warnings were heeded as now... “the company has ceased trading”!

 

SYME

BREAKING EXPOSE: Alessandro Zamboni and Nuburu, the plot thickens

 

HZM

Horizonte Minerals: Told y’all, call the Fat Lady!

 

HZM

Horizonte Minerals (#HZM) – “unable to secure interest in the full financing needed”, as warned here shareholders wipeout ahoy

 

WCAT

Wildcat Petroleum (#WCAT) – now unable currently to sign any sort of contract in Sudan, argues to “now concentrate on South Sudan”

 

IES

Invinity Energy Systems (#IES) – states expects to finalise ‘strategic investment agreements’ “in the coming weeks”

 

CWR

Ceres Power (#CWR) – 2023 cash outflow £42.4m after revenue of £22.3m, “cash and short-term investments” £140m

 

BOOM

Audioboom (#BOOM) – argues improvement from 2023 results, but Q1 even adj. EBITDA profit just $0.1m

 

BOOM

Audioboom (#BOOM) – 2023 swing to even an adj. EBITDA loss, cash down to $3.7m

 

RNO

Renold (#RNO) – now expects FY results “materially ahead of current market expectations”

 

PAGE

PageGroup (#PAGE) – Q1 gross profit -16.4% YoY, -12.8% in constant currency

 

INCH

Inchcape (#INCH) – agreement to sell UK retail business for approx. £346m to Group 1 Automotive

 

SYNT

Synthomer (#SYNT) – agreement for sale of its Compounds business for c.€27.5m

Sunday »

Bearcast

Tom Winnifrith Bearcast: what now for oil as Iran and Israel go head to head and why Neil Woodford is THE guilty man

 

Gold

The View From The Montana Log-Cabin As “Mr Slammy” Hits Gold Before Iran Strikes Israel

 

Professor

Visual Aid: The World’s Top Flight Routes, by Revenue

 

KEFI

Okay here is that 'arry Adams of Kefi video

 

Quiz

The ShareProphets Sunday Pub Quiz #236

 

Professor

Sunday Long Reads: Bringing Football to Sheffield, Art Fraud, Boeing, Self-Help, Biggest Cruise Ship Ever

 

Top-10

Notes from Underground – Most read articles for the week ending 13 April

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