Broker Upgrades and Downgrades & Key UK Corporate Snapshots 20 November 2015

UK Broker Upgrades / Downgrades

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Key UK Corporate Snapshots Today

Agriterra Limited (AGTA.L) Announced, in its audited final results for the year ended 31 May 2015, that its reported revenue stood at $11.8 million, compared to $13.8 million in the preceding year. Loss net of tax was $15.9 million compared to $5.7 million. The company’s basic and diluted losses per share was 1.50c, compared to 0.53c.

Alpha Real Trust Limited (ARTL.L) Announced, in its half year results for the six months ended 30 September 2015, that revenue stood at £3.77 million, compared to £4.18 million in the same period last year. Operating profit stood at £7.35 million, compared to £1.62 million. Profit after tax was £7.92 million, compared to £2.36 million. Basic and diluted earnings per share stood at 11.2p, compared to 3.3p.

Bank of Georgia Holdings Plc (BGEO.L) Announced that it would publish its financial results for third quarter and nine months of 2015 at 07:00 London time on Monday, 23 November 2015.

Billington Holdings Plc (BILN.L) Announced that it has conditionally agreed to acquire property located at Shafton, from Sabler Enterprises Limited for £2.5 million and equipment and other assets, also located at Shafton from Sherling Steel (UK) Ltd for £2.38 million.

Cambridge Cognition Holdings Plc (COG.L) Announced, in its year ending trading update, that it has made significant progress with its commercial operations and expects to end the year with three new major pharmaceutical clinical trial contracts totalling $4.5 million including upfront payments and revenues to be recognized in the current year and through to 2017. The potential for these contracts was highlighted in the interim results and they ensure that, despite increasing investment in both healthcare technology development and commercial infrastructure in the USA, the outturn for this year should be similar to 2014 and provide a strong contracted revenue base for the next fiscal year. Accordingly, 2016 is expected to be a year of material growth as the company continues to make significant commercial and technological advances.

Deltex Medical Group Plc (DEMG.L) Announced, in its Big Data study of variation in fluid management during surgery in the USA, that there was wide variation in fluid practice on day of surgery as well as after the surgery. The study analyses data within the Premier Research Database for about 650,000 patients in approximately 500 US hospitals undergoing rectal, colonic and hip/knee surgery. 25% of patients who were administered with the lowest amounts of fluid, suffered more complications and stood longer in hospital having higher costs than average. The 25% of patients administered with the highest amounts of fluid, also suffered more complications and stood longer in hospital having higher costs than average. The association between fluid management and poor outcomes was same for both the open procedures and reduced blood loss laparoscopic procedures.

Diamondcorp Plc (DCP.L) Announced that after completing the back-filling activities, the development tunnelling was resumed on the 290m doming level at the Lace mine, which was almost two weeks ahead of schedule. Tunnelling on the 290m level has been progressing in competent high-grade K4 kimberlite after a successful installation of steel arched sets for a 10m section through the centre of the slot drive cross cut on this level. The sets provide a safe canopy for workers and machinery which need to access this level for commencement of drilling and blasting of the slot between the 290m and 310m production level.

Kimberly Enterprises N.V. (KBE.L) Announced, in its results for the nine months ended 30 September 2015, that revenues surged to €0.764 million from €0.185 million posted in the same period preceding year. The company’s loss before tax narrowed to €6.9 million from €8.6 million reported in the previous year. The basic loss per share stood at 0.076c compared to loss of 0.095c reported in the previous year. The company’s cash and cash equivalents stood at €1.0 million (31 December 2014: €15,000).

MySale Group Plc (MYSL.L) Announced further to the announcement of 1 October 2015, that the company has now exchanged contracts to acquire the trade and assets of three online consumer retail businesses from Grays eCommerce Group Limited in Australia. Completion of the acquisition shall take place on 31 January 2016.

OptiBiotix Health Plc (OPTI.L) Announced that it has entered into a development agreement with Centro Sperimentale Del Latte (CSL) to synthesise and purify novel oligosaccharides (carbohydrates that consists of a small number of sugars) from microbial strains. CSL which is based in Italy, researches, develops, manufactures and distributes probiotics, starter cultures, moulds and yeasts for the pharmaceutical, nutraceutical, dairy, food and agricultural sectors all over the world. The agreement provides the company with development funding for the programme and extends the company’s OptiBiotic technology platform to a wider range of microbial species.

Pantheon Resources Plc (PANR.L) Announced, in its final results for the year ended 30 June 2015, that revenue dropped to £3,389 from £5,381 recorded in the previous year. Loss after tax widened to £1.1 million from £0.7 million.

Parkmead Group (The) (PMG.L) Announced, in its preliminary results for the year ended 30 June 2015, that revenues declined to £18.6 million from £24.7 million recorded in the previous year. Loss after tax stood at £31.4 million compared to a profit of £1.2 million. The Board is not recommending the payment of a dividend in 2015 (2014:£nil). Separately, the company announced that first commercial gas production has been achieved at the Diever West gas field in the Netherlands. The field was discovered in September 2014 and, under a fast-track and low-cost development programme, has been tied into existing production facilities through a new dedicated pipeline with gas extraction via the Garijp treatment system.

Premier African Minerals Limited (PREM.L) Announced that Darwin Strategic Limited has agreed to go ahead with the release date of the second tranche of 7 Loan Notes from the financing which was announced on 9 October 2015 of amount £157,500.

Randall & Quilter Investment Holdings Limited (RQIH.L) Announced that it has signed an agreement to acquire, subject to change of control approval from the Malta Financial Services Authority (MFSA), the entire issued share capital of FNF Title Insurance Company Limited (FNF), a Maltese subsidiary of Fidelity National Title Group in the USA. Subject to the necessary regulatory approvals it is the intention to transfer the business of FNF into R&Q’s EU consolidator company, R&Q Insurance (Malta) Limited.

Range Resources Limited (RRL.L) Announced, in its operational update in Trinidad, that the second development well of the 22 well programme, the GY 180SE well which spudded on 4 November 2015, reached its total depth of 2,000 ft on 16 November 2015. The well was drilled ahead of schedule, taking 12 days to be drilled to its total depth, instead of 21 days as initially expected.

SerVision Plc (SEV.L) Announced that it has, following a tender process, received two new orders from existing distribution partners, valued at a total of approximately EUR 230,000. The first new order is to supply 150 MVG400 units for a fleet of buses in Portugal, through its distribution partner, ENA Portugal – Telecommunications Systems (“ENA”). The value of the current order is EUR 111,750 and SerVision has received a 25% payment from ENA with the balance to be received at the time of shipment. The second new order is for 300 HVG400 units to be installed in custom-built mobile trailers that are deployed at construction sites across the Netherlands. The value of the current order is EUR 119,500 and SerVision has received the cash for the order which was shipped to Tedas on 18 November 2015.

Spectris Plc (SXS.L) Announced, in its trading update that Group like-for-like sales declined by 1% in the four months to 31 October 2015, with trading conditions worsening as the period progressed. LFL sales grew by 2% in both Europe and Asia Pacific, whilst sales to North America declined by 3%. In the last eighteen months the Group has invested around £135 million on eleven acquisitions, and its acquisition pipeline remains encouraging. The Board currently anticipates that full year adjusted operating profit would be towards the lower end of the range of market expectations.

Victoria Oil & Gas Plc (VOG.L) Announced the resignation of James McBurney, as a Non-Executive Director, from the Board, as he has relocated to the United States to pursue business interests in the alternative fuels sector.

Westmount Energy Limited (WTE.L) Announced, in its final results for the year ended 30 June 2015, that its loss net of tax amounted to £0.22 million, compared to £0.20 million in the preceding year. The company’s diluted loss per share was 2.26p, compared to 2.10p. It also announced a conditional subscription (“Subscription”) to raise up to £240,000 in conjunction with an Open Offer to raise up to £393,212 before expenses to provide ongoing working capital for the company.

Wynnstay Properties Plc (WSP.L) Announced, in its unaudited interim results for the six months ended 29 September 2015, that its property income stood at £0.9 million, compared to £0.8 million in the preceding period. Profit after tax was £0.32 million compared to £0.35 million