AIM Investor - Portfolio Update - 15th Oct
←
→
Page content transcription
If your browser does not render page correctly, please read the page content below
Portfolio Update
Thursday 5th May 2022
AIM Investor
FROM REGENCY CAPITAL
AIM Investor
FROM REGENCY CAPITAL
Totally (TLY)
Thursday 5th May 2022
Totally announce multiple contract
extensions
It’s been another great week for Totally (TLY) who have announced a number of contract extensions across the group…
The insourcing healthcare group said its Urgent
Care division had signed a trio of 12-month
contract extensions for the continuation of GP out
of hours (GP OOH) services across the North-East
England for a total value of c. £4.2m.
Totally also announced the award of a five-year
contract extension to Energy Fitness Professionals
(EFP), the corporate fitness provider acquired by
Totally in December 2021, for the delivery of on-
site gyms for the Royal Mail, valued at a total of
£2.5 million. The contract will run until 16 May
2027.
EFP has managed the Royal Mail’s on-site gyms for 18 years. The contract covers the management of 34 sites across the
UK, the introduction of an enhanced digital offering, Health Hub, and the trial of a new wellbeing consultation protocol for
gym members called Health Fair.
TLY Daily Candle Chart
www.aiminvestor.co.uk +44 203 973 8007 info@aiminvestor.co.uk 1
AIM Investor
FROM REGENCY CAPITAL
Solid State (SOLI)
Thursday 5th May 2022
Solid State enjoy ‘exceptionally strong’ finish
to FY22
In a trading statement released last month, Solid State (SOLI) said it expects to announce a record set of Full-Year 2022
results.
The component supplier and design-in manufacturer has enjoyed
an “exceptionally strong finish to the Period” (31 March 2022).
Solid State expects to announce Full-Year revenues of
approximately £85m (2021: £66.3m) up 28% over the prior year,
and adjusted profit before tax of approximately £7.2m (2021:
£5.4m) up 33%; both “ahead of recently upgraded consensus
expectations”.
The like for like open orderbook at 31 March 2022 is up 106%
over the prior year at a record £85.5m (31 March 2021: £41.5m).
Like for like organic revenue growth is in excess of 8%, which Solid State said was “pleasing given the well-publicised
supply chain and macro-economic challenges faced in the year and the more recent conflict in Ukraine which, to date,
has had negligible impact”.
SOLI Daily Candle Chart
www.aiminvestor.co.uk +44 203 973 8007 info@aiminvestor.co.uk 2
AIM Investor
FROM REGENCY CAPITAL
eEnergy (EAAS)
Thursday 5th May 2022
eEnergy earnings to be ‘behind market
expectations’
eEnergy (EAAS) gapped lower yesterday following a surprise profit warning…
The green energy services is forecasting £23m of revenue and around £3m of adjusted earnings for Full-Year 2022 –
“behind market expectations”…
eEnergy blamed a slower than expected recovery in Ireland due to longer COVID-19
lockdowns, as well as customers entering into larger multi-service contracts resulting in
longer conversion times from signing to installation.
However, it wasn’t all bad news and eEnergy saw record contract signings in Q3 with
customers responding to higher energy prices.
CEO Harvey Sinclair commented:
“We are pleased to see this momentum continuing with a strong start to Q4 and a robust sales pipeline to take us into FY23.”
“Despite these gains, the impact of covid lockdowns in H1 has continued in Ireland which has seen a slower than expected recovery. Adding to this, we are seeing longer lead times between signing and
project completion for the larger, multi service contracts we are now winning. Whilst this is inherently a positive, the longer lead times means certain contracted revenues will now fall after the financial
year end. The Board is pleased with the new business pipeline momentum which is not only seeing cross selling of services to existing clients but also to new customers seeking multiservice Net Zero
strategies across our energy efficiency and energy management divisions. We continue to invest in new products and services and are excited by the launch of eCharge and our onsite solar power
generation offering which has met with strong demand.”
The market’s reaction has been somewhat brutal, and we tend not to overreact to short-term market shocks. For now, we
remain happy to hold eEnergy in our AIM Investor portfolio.
EAAS Daily Candle Chart
www.aiminvestor.co.uk +44 203 973 8007 info@aiminvestor.co.uk 3
AIM Investor
FROM REGENCY CAPITAL
Kitwave (KITW)
Thursday 5th May 2022
Kitwave deliver ‘strong first half ’ performance
In a trading update released yesterday, Kitwave (KITW) said it
experienced a strong first half financial performance with “all
divisions of the business now trading at pre-pandemic levels or
higher”.
The wholesale business now anticipates the Group’s results for the full financial year to be “slightly ahead of market
expectations”.
CEO Paul Young commented:
“Following an encouraging first half performance, and with the second half of the year typically driving increased
trading, we expect full year results to be slightly ahead of market expectations…
“During the period, we were delighted to announce Kitwave’s first acquisition since its admission to AIM in May 2021. The
acquisition of M.J. Baker enables a significant expansion of the Group’s activities into south-west England and
complements the Group’s existing Foodservice division. The integration of the business into the Group is going as hoped
and the business is operating in line with internal expectations.”
It’s very early days for our position in Kitwave, but it’s a case of, ‘so far so good’ with the shares continuing to maintain
their upward trajectory.
KITW Daily Candle Chart
www.aiminvestor.co.uk +44 203 973 8007 info@aiminvestor.co.uk 4
AIM Investor
FROM REGENCY CAPITAL
Boohoo (BOO)
Thursday 5th May 2022
Boohoo sees tough year ahead as profit falls 28%
Boohoo’s (BOO) Final Results for the year ended Feb 2022 did not make for pretty
reading this week…
The online fashion house reported a 28% fall in annual core earnings that reflected
significant freight and logistics cost inflation and warned that pandemic-related
external factors will continue to impact it this year.
Boohoo made adjusted earnings (EBITDA) of £125m which was – in line with
guidance and down from £173.6m in 2020-21, while revenue rose 14% to £1.98bn.
Boohoo is now forecasting revenue growth to be broadly flat in the first half of 2022-23 as relatively higher product returns
rates lead to net sales being down year on year in the first quarter, with a return to growth in the second quarter.
John Lyttle, Group CEO, indicated that Boohoo would focus on maintaining the market share it had gained through the
pandemic:
“Over the past two years, we have significantly increased market share in our core geographies of the UK and the US,
and we have grown active customer numbers by 43% across the group to 20 million. Our focus over the past two years
has been on investing to build a strong platform, with the right infrastructure, supported by increased capacity to better
serve our customers…
In the year ahead we are focussed on optimising our operations through increasing flexibility within our supply chain,
landing key efficiency projects and progressing strategic initiatives such as wholesale and our US distribution centre. This
will ensure that the group is well-positioned to rebound strongly as pandemic-related headwinds ease.”
BOO Daily Candle Chart
www.aiminvestor.co.uk +44 203 973 8007 info@aiminvestor.co.uk 5
AIM Investor
FROM REGENCY CAPITAL
Learning Technologies (LTG)
Thursday 5th May 2022
Learning Tech raises margin guidance
Learning Technologies (LTG) posted a strong set of Final Results this week in which it said its GP Strategies acquisition was
“progressing ahead of plan”.
The e-learning group saw sustained momentum and organic growth across
the business, with high quality earnings from SaaS and long-term contracts.
Full-Year operating profit came in at £11.7m versus 14.9m the year prior, but
headline revenue rose 95% to £258.2m (organic revenue growth was 8%) due
to its ‘transformational’ acquisition of GP Strategies which is bedding in
quicker than anticipated and prompted an increase in margin guidance.
Learning Tech CEO, Jonathan Satchell commented:
“Our transformational GP Strategies’ acquisition is progressing ahead of plan and enables us to upgrade our margin
expectation for FY 2022. The enlarged Group provides a platform to capture a greater proportion of the circa $100
billion and growing addressable market in digital learning and talent management. Following the acquisition we have a
deeper offering to serve a global customer base facing greater complexity and change, creating further margin
enhancement and cross-sell opportunities for LTG….
Current trading in Q1 2022 is strong, in line with management expectations. While mindful of the current macro
environment, strong business momentum has continued into the new financial year and we have a robust balance sheet
that will support further software company acquisitions in due course, underpinning the Board’s confidence of significant
progress in FY 2022.”
LTG Daily Candle Chart
www.aiminvestor.co.uk +44 203 973 8007 info@aiminvestor.co.uk 6
AIM Investor
FROM REGENCY CAPITAL
Mpac Group (MPAC)
Thursday 5th May 2022
Mpac sees 2022 ‘in line’ on strong pipeline
prospects and orderbook
Mpac Group (MPAC) said this week that performance has been in line
with the board’s expectations and that its orderbook is significantly above
the previous year’s level.
The packaging-tech firm expects 2022 performance to be “in line” with
expectations as the robust pipeline prospects and order book provide
extensive coverage over its forecast revenue.
The company added that supply-chain pressures are expected to
continue throughout the year, and that these have been mitigated with a
new business model application.
In an AGM statement, CEO Tony Steels commented:
“I am pleased to report that we have started 2022 trading in line with expectations. Our management team has
responded well to the supply chain disruption and has been able to largely mitigate the impact on Mpac and our
customers…
While we anticipate that the current supply chain challenges are likely to continue throughout 2022, the Group has
momentum from a strong orderbook and the sound operational foundations, established by implementing the One Mpac
business model, and I continue to be confident that results for the full year will be in line with expectations.”
MPAC Daily Candle Chart
www.aiminvestor.co.uk +44 203 973 8007 info@aiminvestor.co.uk 7AIM Investor
FROM REGENCY CAPITAL
Ixico (IXI)
Thursday 5th May 2022
IXICO says first half represents period of
consolidation
AI neuroimaging company Ixico (IXI) said it performed in line with expectations for
the six months to end-March, delivering positive underlying earnings and remaining
operating cash-generative despite challenges in the period.
Ahead of the release of interim results in late May, IXICO expect revenues to be
£3.9m compared to £4.9m the year before, with a net cash balance of £5.8m at
the half-year stage.
The contracted order book stood at £12.6m at the end of March, compared to
£19mln a year earlier.
Chief executive Giulio Cerroni said:
“I am satisfied with IXICO’s performance over the past six months, delivering positive EBITDA and positive operating
cash, given the challenges we have faced with the halting of several important client trials representing significant multi-
year revenue opportunities.
“The results delivered do not reflect the growth opportunity we see in front of us, rather a necessary period of
consolidation as we continue to diversify our contracted order book.”
IXI Daily Candle Chart
DISCLAIMER - This research is prepared for general information only and should not be construed as any form of investment advice
www.aiminvestor.co.uk +44 203 973 8007 info@aiminvestor.co.uk 8Performance AIM Investor
FROM REGENCY CAPITAL
Closed Positions
The table below shows full performance data for every AIM Investor closed position since the
service was launched in January 2019.
Name Ticker 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 1404 2401 11/11/2020 + 71.01%
Frontier Developments (2 tranche)
nd
FDEV 26/03/2020 1157 2401 11/11/2020 + 107.52%
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%
Keystone Law KEYS 18/04/2019 426 640 02/06/2021 + 50.23%
GB Group GBG 31/10/2019 610 901 10/06/2021 + 47.70%
D4t4 Solutions D4T4 14/03/2019 223.7 345 30/06/2021 + 54.22%
Clinigen CLIN 28/03/2019 918 613 14/07/2021 - 33.22%
Alumasc Group ALU 01/04/2021 173 261 26/07/2021 + 50.87%
MTI Wireless Edge MWE 04/06/2020 38.5 80 17/08/2021 + 107.79%
Arcontech ARC 19/11/2020 198 142.70 02/09/2021 - 27.93%
Renew Holdings RNW 27/02/2020 525 797 06/09/2021 + 51.81%
Renew Holdings (2nd tranche) RNW 24/09/2020 432 797 06/09/2021 + 84.49%
Next Fifteen Communications NFC 10/09/2020 480 1154 14/09/2021 + 140.42%
Ramsdens Holdings RFX 11/07/2019 189.94 155 29/11/2021 - 14.40%
Quixant QXT 04/02/2021 128 160.10 29/11/2021 + 28.10%
Serica Energy SQZ 04/03/2021 120 209 29/11/2021 + 77.10%
IG Design IGR 25/07/2019 584 279 05/01/2022 - 48.20%
Kape Technologies KAPE 23/04/2020 174 445 05/01/2022 + 155.70%
Suresurve SUR 08/10/2020 53 98 07/01/2022 + 86.80%
*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. Profit/loss includes
any dividends received during holding period. 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). 15Performance AIM Investor
FROM REGENCY CAPITAL
Open Positions
The table below shows performance data for every AIM Investor open position since the service
was launched in January 2019.
Name Ticker Open Date Entry Price Current Price* Profit/Loss (%)*
Bioventix BVX 19/09/2019 3825 3475 -9.15%
boohoo BOO 14/11/2019 266 69.82 -73.75%
Midwich Group PLC MIDW 28/11/2019 599 640.05 6.85%
Learning Tech LTG 02/01/2020 141 128.7 -8.72%
Eckoh ECK 16/01/2020 59 42.88 -27.32%
Cohort CHR 07/05/2020 561 542 -3.38%
Anglo Asian Mining AAZ 21/05/2020 142 94.4 -33.52%
Bango BGO 18/06/2020 177 182.11 2.88%
Craneware CRW 02/07/2020 1705 1600 -6.15%
Robinson RBN 16/07/2020 121 75.1 -37.93%
Oxford Metrics OMG 30/07/2020 75.2 87 15.69%
Ideagen IDEA 13/08/2020 197 219.75 11.54%
Begbies Traynor BEG 27/08/2020 84.9 116.88 37.66%
Spectra Systems SPSY 22/10/2020 190 151 -20.52%
Pan African Resources PAF 05/11/2020 22 22.35 1.59%
Tracsis TRCS 03/12/2020 622 1060 70.41%
Restore RST 17/12/2020 375 450.68 20.18%
Central Asian Metals CAML 07/01/2021 268 270.78 1.03%
Somero SOM 21/01/2021 385 412 7.01%
Inspecs SPEC 18/02/2021 329 358 8.81%
Ceres Power CWR 18/03/2021 1094 674.4 -38.35%
Eckoh ECK 15/04/2021 78.7 42.88 -45.51%
Tremor International TRMR 29/04/2021 715 463.8 -35.13%
MPAC Group MPAC 13/05/2021 524 467 -10.87%
Character Group CCT 27/05/2021 635 599 -5.66%
Bango BGO 10/06/2021 210 182.11 -13.28%
Keywords Studios KWS 24/06/2021 2490 2238 -10.12%
Science Group SAG 08/07/2021 396 410.5 3.66%
Xpediator Plc XPD 22/07/2021 70 32.7 -53.28%
Ixico IXI 05/08/2021 68 40.65 -40.22%
EQTEC EQE 19/08/2021 1.29 0.84 -34.88%
Renold RNO 02/09/2021 23 25.9 12.60%
Gattaca GATC 16/09/2021 207 68.55 -66.88%
Yellow Cake YCA 30/09/2021 332 393 18.37%
TMX Impact TPX 14/10/2021 235 199 -15.31%
Enwell Energy ENW 28/10/2021 42.3 22.5 -46.80%
Marlowe Plc MRL 11/11/2021 937 805 -14.08%
Warpaint London W7L 25/11/2021 155 140 -9.67%
Surface Transforms SCE 09/12/2021 54 53 -1.85%
Mulberry MUL 16/12/2021 320 273 -14.68%
Inland Homes INL 06/01/2022 56 42.12 -24.78%
eEnergy EAAS 20/01/2022 15 8.34 -44.40%
Learning Tech (2nd trance) LTG 03/02/2022 170 128.7 -24.29%
Solid State SOLI 17/02/2022 1160 1070 -7.75%
Gamma Communications GAMA 03/03/2022 1488 1162 -21.90%
K3 Capital K3C 17/03/2022 271 238.55 -11.97%
Totally TLY 31/03/2022 35 44.12 26.05%
Kitwave KITW 14/04/2022 146 150 2.73%
CentralNic CNIC 28/07/2022 125 130 4.00%
*Prices correct as of 4th May 2022. 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. Profit/loss includes any dividends received during holding period. 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). 15You can also read
