AIM Investor - Portfolio Update - 15th Oct
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Portfolio Update
Thursday 3rd June 2021
AIM Investor
FROM REGENCY CAPITAL
AIM Investor
FROM REGENCY CAPITAL
Tremor International (TRMR)
Thursday 3rd June 2021
Tremor Q1 revenue surges 96%
Tremor International (TRMR) delivered a record performance in Q1 2021, which is historically a quieter period for the
Company.
The digital video advertising platform said net revenue increased 96% to $63m (Q1 2020: $32.1 million). While total cash
and cash equivalents came in at $130m with no debt, after conducting a buyback of $6.6m during Q1 2021.
“All acquisitions are now fully integrated with Tremor delivering
record levels of organic revenue growth” read the update, released
last week.
‘Programatic’ net revenue more than doubled to $55.7m (Q1 2020:
$27.2 m) – underpinned by revenue growth in Connected TV
(“CTV”), the self-serve platform and private marketplaces.
It’s early days for our Tremor position, but so far so good, with the
shares breaking through resistance on the back of the trading
update.
TRMR Daily Candle Chart
TRMR Daily Candle Chart
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AIM Investor
FROM REGENCY CAPITAL
Bioventix (BVXP)
Thursday 3rd June 2021
Bioventix hikes dividend despite tough year
Bioventix (BVXP) released a resilient set of Half-Year numbers last week in which revenue held steady at +1.3% to £5.2m
(2019: £5.1m), while profits dropped 9% to £3.7m (2019: £4.1m).
The clinical diagnostic specialist said that the pandemic had
“without doubt, affected the activity within diagnostic pathways in
hospitals and clinics around the world”…
“Not only have medical care resources been diverted to cope with
COVID-19 patients but, even where capacity remains, there is
ongoing evidence that patients are choosing not to present to
healthcare professionals or not to enter diagnostic pathways”
read the Chairman and CEO’s statement.
However, Bioventix are “pleased with the continued success of our
vitamin D antibody and core antibody business”…. And “remain
optimistic about our troponin revenues and the success of these high sensitivity troponin products around the world”.
This optimistic outlook was backed up by a 20% hike in their dividend to 43p per share.
BVXP Daily Candle Chart
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AIM Investor
FROM REGENCY CAPITAL
Anglo Asian Mining (AAZ)
Thursday 3rd June 2021
AAZ post record turnover
Anglo Asian Mining (AAZ) delivered record Full-Year turnover of $102.1 million and an increase in profit before tax to
$35.7 million.
AAZ’s balance sheet remains strong with cash of $38.8 million
and no bank debt at 31 December 2020. This was underlined
by a final dividend of $0.035 per ordinary share giving a total
dividend of $0.095 per ordinary share for 2020 (2019: $0.08
per share).
Full-Year gold production levels dropped but were in-line with
expectations at 56,864 ounces (FY 2019: 70,098 ounces).
Silver production for the year was 122,962 ounces (FY 2019:
159,356 ounces) and copper production for FY 2020 increased
by 17% year-on-year to 2,591 tonnes (FY 2019: 2,210 tonnes).
Gold production outlook was a further reduction on 2020
levels with a forecast of 54,000 ounces of gold and between 2,500 and 2,800 tonnes of copper. This reduction is due to
the exhaustion of the Ugur open pit in 2020 and we will be looking for AAZ to deliver on its discovery programme,
especially given the collapse of the Conroy gold joint venture.
AAZ Daily Candle Chart
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AIM Investor
FROM REGENCY CAPITAL
Learning Technology (LTG)
Thursday 3rd June 2021
Learning Tech says current year trading has
started well
In an AGM statement, released last week, Learning Technology (LTG) said that current trading for the year has started
well and was “in-line with management expectations”.
Commenting on the company’s aggressive growth via
acquisition model, Chairman, Andrew Brode said:
“LTG broadened its offering and addressable market
significantly through the acquisitions of Open LMS, eThink and
eCreators which together give the Group global market
leadership in the open-source Moodle™ market”…
“The acquisition of Patheer in 2020, and of Reflektive and
Bridge in the first quarter of 2021, have further strengthened
our expansion into the talent development mid-market.”
The shares have been in consolidation mode since the turn of the year, but given LTG’s upbeat statement, we expect
prices to kick-on higher as the global recovery gathers pace.
LTG Daily Candle Chart
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AIM Investor
FROM REGENCY CAPITAL
Cohort (CHRT)
Thursday 3rd June 2021
Cohort’s order book balloons 31%
Defence tech firm Cohort (CHRT) released a trading update last week which indicated that Full-Year trading would be in-
line with management expectations.
Their closing order book hit record levels at £240m (30 April
2020: £183.3m) – underpinning £100m (63%) of the market
revenue expectations for the year ended 30 April 2022 (2020:
£83m, 60%).
“The strong growth in the Group’s order book has given us
enhanced visibility across our businesses. This is particularly so
at Chess, ELAC, MASS and SEA; however, the Group has seen
some potential orders delayed over the course of the year,
notably at EID, in part arising from the impact of the COVID-19
pandemic. Some of these orders are now expected to be
secured in 2022 and 2023” read the update.
CEO Andrew Thomis said:
“Our financial position ended the year stronger than expected with positive net funds. Together with our banking facilities,
this provides us with the flexibility to continue to invest in the business and consider acquisitions.”
CHRT Daily Candle Chart
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AIM Investor
FROM REGENCY CAPITAL
Restore (RST)
Thursday 3rd June 2021
Restore announce strong trading update and
new customer win
Data management group Restore (RST) released an upbeat trading update last week in which it said Q1 trading has been
in-line with the boards expectations…
“Activity levels continue to show sustained improvement, with
revenue for the Period being approximately 3% ahead of the
comparative period for the previous year and approximately 95% of
the same pre COVID-19 period during 2019” read the update.
The group also announced that the Department for Work & Pensions
(‘DWP’) has awarded Restore a document services project of
approximately £10m over 20 months from June 2021. As part of the
service, 95 staff will transfer from the current provider to Restore.
CEO, Charles Bligh commented:
“Our core business is recovering well with increasing activity across
all business units and we continue to win new customers and contracts, whilst now being able to offer an increasing suite
of services to existing customers.”
RST Daily Candle Chart
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AIM Investor
FROM REGENCY CAPITAL
Robinson (RBN)
Thursday 3rd June 2021
Robinson Full-Year revenue rose 6% to
£37.2m
Packaging group Robinson (RBN) posted a strong set of Full-Year results last week showing a 6% jump in revenue to
£37.2m (2019: £35.1m).
Gross margins increased 23.0% from 21.4% in 2019, and
operating profit before amortisation of intangible assets rose
8% to £2.7m (2019: £2.5m).
Alan Raleigh, Chairman, commented:
“I am pleased to report further progress in revenues and profits
in 2020, despite the challenging conditions created by the
Covid-19 pandemic” …
“We have recently expanded our footprint, capabilities and
geographical reach with the acquisition of Schela Plast, which
will better position us to serve customers in Northern Europe,
as well as Central Europe and the UK in the coming year.”
The shares have been consolidating since the turn of the year. This isn’t too concerning given the strength of Robinson’s
long-term but we are looking for prices to respect the key support level at 134p.
RBN Daily Candle Chart
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Performance AIM Investor
FROM REGENCY CAPITAL
Open Positions
Name Ticker Open Date Entry Price Current Price* Profit/Loss (%)
D4t4 Solutions D4T4 14/03/2019 223.7 353.4 57.97%
Clinigen CLIN 28/03/2019 918 850 -7.40%
Keystone Law KEYS 18/04/2019 426 638.5 49.88%
Ramsdens Holdings RFX 11/07/2019 189.94 160 -15.76%
IG Design IGRI 25/07/2019 584 572.89 -1.90%
Bioventix BVX 19/09/2019 3825 4025 5.22%
GB Group GBG 31/10/2019 610 934.5 53.19%
boohoo BOO 14/11/2019 266 322.56 21.26%
Midwich Group PLC MIDW 28/11/2019 599 500 -16.52%
Learning Tech LTG 02/01/2020 141 170.8 21.13%
Eckoh ECK 16/01/2020 59 69 16.94%
Renew Holdings RNWH 27/02/2020 525 642.5 22.38%
Kape Tech KAPE 23/04/2020 174 330.4 89.88%
Cohort CHRT 07/05/2020 561 624 11.22%
Anglo Asian Mining AAZ 21/05/2020 142 155.01 9.16%
MTI Wireless Edge MWE 04/06/2020 38.5 62.03 61.11%
Bango BGO 18/06/2020 177 216.1 22.09%
Craneware CRW 02/07/2020 1705 2384.5 39.85%
Robinson RBN 16/07/2020 121 140.5 16.11%
Oxford Metrics OMG 30/07/2020 75.2 97.95 30.25%
Ideagen IDEA 13/08/2020 197 255.6 29.74%
Begbies Traynor BEG 27/08/2020 84.9 137.8 62.30%
Next Fifteen NFC 10/09/2020 485 841.88 75.39%
Renew Holdings RNWH 24/09/2020 432 642.5 48.72%
Sureserve SUR 08/10/2020 53 80.65 52.16%
Spectra Systems SPSY 22/10/2020 190 162.9 -14.26%
Pan African Resources PAF 05/11/2020 22 22.55 2.50%
Arcontech ARC 19/11/2020 198 165.25 -16.54%
Tracsis TRCS 03/12/2020 622 873 40.35%
Restore RST 17/12/2020 375 412.9 10.10%
Central Asian Metals CAML 07/01/2021 268 280.14 4.52%
Somero SOM 21/01/2021 385 459.9 19.45%
Quixant QXT 04/02/2021 128 161.2 25.93%
Inspecs SPEC 18/02/2021 329 374 13.67%
Serica Energy SQZ 04/03/2021 120 116.6 -2.83%
Ceres Power CWR 18/03/2021 1094 1095.16 0.10%
Alumasc Group ALU 01/04/2021 173 245.1 41.67%
Eckoh ECK 15/04/2021 78.7 69 -12.32%
Tremor International TRMR 29/04/2021 715 822.5 15.03%
MPAC Group MPAC 13/05/2021 524 525 0.19%
Character Group CCT 27/05/2021 635 669 5.35%
Closed Positions
Name Symbol Open Date Open Price Closed Price Close Date Profit/Loss (%)
Trans-Siberian Gold TSG 31/01/2019 44.3 50.0 28/01/2020 + 12.87%
Dart Group DTG 27/06/2019 831 1712 28/01/2020 + 106.82%
Johnson Service JSG 08/08/2019 165 126 30/04/2020 - 23.64%
Churchill China CHH 24/10/2019 1580 1460 30/04/2020 - 7.59%
Best Of The Best BOTB 12/12/2019 320 603 13/05/2020 + 88.44%
Goldplat GLDP 12/03/2020 4.300 7.690 30/07/2020 + 78.84%
Highland Gold HGM 13/02/2020 205 294.40 05/08/2020 + 45.07%
Codemasters CDM 14/02/2019 178.7 370.0 06/08/2020 + 107.05%
Sylvania SLP 03/10/2019 36.93 67.50 03/09/2020 + 82.78%
Frontier Developments FDEV 30/01/2020 1280.5 2401 11/11/2020 + 87.50%
Quartix QTX 05/09/2019 335 370 08/12/2020 + 10.40%
Ergomed ERGO 09/04/2020 453 925 08/12/2020 + 104.19%
Scientific Digital Imaging SDI 22/08/2019 53 122.90 31/01/2021 + 131.89%
Gamma Communications GAMA 28/12/2019 876 1910 20/05/2021 + 118.13%
*Prices correct as of 1st June 2021. The table above shows ALL stock recommendations since AIM Investor’s launch on 4th January 2019. Please be aware that all entry and current price levels
are mid-prices. No allowance for dealing costs, fees or taxes has been made. Past performance is not a guarantee of future performance.
www.aiminvestor.co.uk +44 203 973 8007 info@aiminvestor.co.uk
The research provided by AIM Investor is prepared for general information only and should not be construed as any form of investment advice. It does not take into consideration your personal
circumstances, including your investment objectives, risk profile, tax status, knowledge and understanding or financial situation. The value of shares bought through a share dealing account, a
stocks and shares ISA, a SIPP can fall as well as rise, which could mean getting back less than you originally put in.
AIM Investor provides research for shares listed on AIM (Alternative Investment Market) which can carry risk to your capital. AIM shares may not be suitable for all investors. The value of
investments can fall as well as rise, and you may get back less than you invested. Please ensure you fully understand the risks involved and seek independent advice if necessary.
AIM Investor is a trading name of Regency Capital Group Ltd (a company registered in England and Wales under number 11921999). Registered address at 35 Berkeley Square, Mayfair, London,
United Kingdom, W1J 5BF.
Regency Capital Group Ltd is authorised and regulated by the Financial Conduct Authority (Register No. 916337). 15
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