Loungers has announced record FY24 Sales of £353.5m, up 24.7% and 22.2% excluding the 53rd week.
Thruvision’s year-end trading update confirms revenues broadly in line with our expectations at c.£7.8m, and an EBITDA loss of c.£2.5m. There is good momentum from both new and existing clients, with Thruvision reaping the benefits of a broad customer base, spanning a number of international markets.
Destiny’s full-year results for the year ending December 31 2023 included news of a strategic review of the options for its lead program XF-73 nasal. Cost-controls and reduced clinical trial spend at this point in the development of Destiny’s assets reduced the loss for the year.
Norcros’s disposal of Johnson Tiles is the latest strategic activity taken by management to better allocate capital to fit with priorities. Last year it closed its UK adhesives operation.
Henderson Far East Income (HFEL) has consistently delivered on its objective to provide a rising dividend. However, like many investors, HFEL’s managers overestimated the potential for a post-pandemic rebound in China.
Corero has already secured over $8m of orders in the first four months of FY24E. This level of momentum in orders not only supports our double-digit % growth forecasts, but also validates the Group’s go-to-market strategy.
Renewi’s FY24 trading update was in line with management’s expectations and its improved cash generation is reassuring for investors. Attention is now likely to turn the strategic review of the UK Municipals with management stating that they remain on track to update markets by the end of June.
N4 Pharma and Silicon Valley-based SRI International (‘SRI’) have entered a research collaboration agreement (‘the Agreement’) designed to progress development of preclinical products capable of overcoming barriers that prevent intracellular delivery of large molecule biotherapeutics.
Futura Medical’s investment case has shifted firmly onto commercial execution. The highly successful initial launches of Eroxon, its novel topical gel for ED (erectile dysfunction), by partner Cooper Consumer Health in the UK and Belgium are now being followed by roll-outs across the major European markets.
Filtronic has signed a strategic partnership and commercial agreement with SpaceX which includes a production order worth £15.8m and warrants that could be exercised for up to 10% of existing share capital.
FY24 ahead of expectations In a trading update for the twelve months to end 31 March 2024, ECO Animal Health reports that revenue should be close to £90m; this compares to the March trading update outlook of £88.7m.
The pre-close trading update from Driver Group delivered encouraging progress overall, with the smaller regions remaining profitable and a positive performance in the UK and Europe. The cost rationalisation was completed during the period following the move to a smaller London office.
Sanderson Design Group (SDG) has announced its FY24 full-year results, which are in line with the headline figures from its February trading update.
In a tough trading environment, Checkit managed to grow FY24 revenue by 17% and reduce EBITDA losses by nearly half. The company has had a positive start to FY25 with new contract wins and the launch of a new module.
In a Trading Update for the twelve months to 31 March 2024, Supreme expects to report revenue of c.£225m, and (adj.) EBITDA of at least £38.0m, in line with market expectations1 , which had been revised upwards during the course of the year and represents almost double the FY23 level. The Group closed the year debt free.
At its FY23 results in June 2023, G4M announced its intention to focus on product margins, overhead cost reduction, and efficiency ahead of revenue growth, along with further net debt reduction, in FY24.
Headlam Group has laid out an ambitious long-term revenue target of between £900m and £1bn, as it seeks to grow its share of the UK floor coverings distributor market.
Watkin Jones’s guidance for FY24E is unchanged in its trading update for the first half to 31 March. We maintain our forecasts for the full year and introduce half-year estimates, in line with reiterated guidance that performance will be significantly H2 weighted.
HydrogenOne (HGEN) holds a distinctive and concentrated portfolio of assets across the entire hydrogen value chain (95% private, 2% public). In its FY23 results, its NAV and NAV per share increased 6% y-o-y to £132.7m and 103p,
S&U reported FY24 PBT of £33.6m, down from £41.4m in FY23 on higher funding and regulatory costs and higher impairments in Advantage in H2. PBT was 2% ahead of our forecast as stronger revenues – up 12% to £115.4m – and better costs offset higher-than-expected impairments.
