Hybridan Small Cap Feast: 06/08/2024
* A corporate client of Hybridan LLP
** Arranged by type of listing and date of announcement
*** Alphabetically arranged
**** Potential means Intention to Float (ITF) has been announced, or it is a rumour
Dish of the day
What’s baking in the oven? **
Banquet Buffet***
The flooring company, supplying both the UK and international markets announces a trading update for the six months ended 30 June 2024. Following a strong start to the year, the Group experienced an unforeseen slowdown in the second quarter. Sales for the period were 5.6% down year on year, though slightly ahead of the overall market trend. UK and ROI sales ended the period 0.3% down year on year. Sales in the international markets were impacted by ongoing economic and geopolitical concerns and ended the period 21.9% behind the prior year. The Board anticipates a continued improvement in trading during the second half of the year and has moderated its full year sales growth and profit expectations.
The manufacturer of energy efficient and low maintenance building products, with significant market shares, supplying the Repair, Maintenance and Improvement (RMI), new build and social housing sectors announces its half-year trading update in respect of the year ended 31 December 2024. The Group has continued to responsibly manage the balance between volume and margin, with underlying operating profit for the half-year ended 30 June 2024 in line with a strong prior year comparative and Board expectations. Operating margins are ahead of the prior half year. Underlying turnover, excluding surcharges, was 8% lower than H1 2023 but only 2% behind H2 2023. The Group remains confident of delivering underlying operating profit for the year in line with market consensus expectations.
The immersive technology company provides a trading update for the six months ending 30 June 2024. Group revenue has grown to c.EUR2.2m, an increase of 5% (H1 2023: EUR2.1m). EBITDA loss was EUR1.8m (H1 2023: loss of EUR2.2m), with Group administrative expenses being largely salary and associated costs. Cash balance at 30 June 2024 of EUR5.5m (31 December 2023: EUR7.9m). The period has seen a continuation of the trends seen in 2023 with Enterprise growth within Corporate Learning & Development seeing further progress.
A Company developing green economy assets in Europe which aims to capitalise on the opportunity created by the green energy transition announces that the Company has commenced drilling at its Olserum Rare Earth Project in Sweden. The initial low-risk programme totaling c.1,500m is targeting outcropping mineralisation at Djupedal, where previous sampling has shown assay values up to 20.45% total rare earth oxides (TREO), and Olserum West with outcropping mineralisation located closer to the historic resource. Drill rig has been mobilised to the Olserum REE project with the first diamond drill hole underway at the Djupedal prospect. The low-cost drill programme is aimed at derisking the project and confirming the district-scale potential for rare earth elements (REE) which the Company expects will support it in seeking to monetise the Olserum REE project by attracting a partner.
A diversified group delivering services to the industrial and property sectors announces its results for the year ended 31 May 2024. Revenue was stable at £211.1m (2023: £211.5m), EBITDA increased to £26.1m (2023: £21.8m) and cash and cash equivalents increased to £22.7m (2023: £21.9m). The Group remains steadfast in its core objective to create, realise and deliver value for our shareholders. Despite challenges faced by HRMS, the notable improvement in the second half of the year gives us confidence in an improved contribution for the current financial year.
The finance group which specialises in insurance premium finance and the professions funding market provides notification that its largest customer Nukula Limited, trading as "Insure That" has gone into administration. On an unaudited basis as at 30th June 2024, lending to Insure That's customers comprised £16.7m to circa 80,000 customers. Orchard's total unaudited lending book as at 30th June 2024 was £66.8m. The Company is assessing the impact of the administration of "Insure That" on its ability to collect in the lending made by Orchard to Insure That's customers. The Company will provide a further update in due course.
The developer of advanced security, communication and surveillance systems announces that its subsidiary, QRO Solutions (QRO), has been recently awarded a further order worth over £0.25m for Artificial Intelligence (AI) enabled ANPR cameras. This order had been anticipated and is for the supply, installation, and ongoing support of QRO's "all-in-one" Harrier AI ANPR camera and is expected to be delivered in the second half of 2024. The award followed successful customer trials that demonstrated Harrier AI's technical capabilities and performance, which QRO believes sets a new benchmark for ANPR traffic management and surveillance applications. The contract brings the number of UK customers that have invested in Harrier AI cameras to five since the first Harrier AI order was announced back in February 2024, which was for a UK national highways application. The Harrier AI camera was launched in December 2023 and is designed and built in the UK by QRO.
The diversified financial services provider and retailer provides a trading update for the current financial year to 30 September 2024. Further to the Group's Interim Results for the six months ended 31 March 2024 (announced on the 5 June 2024), the good trading momentum has continued into the second half of the financial year to date. This positive performance continues to reflect the strengths of the Group's diversified income streams, the ongoing investments made in enhancing the customer proposition, and the high gold price driving a better-than-expected performance in the Precious Metals segment. As a result, the Board now expects FY24 Profit Before Tax to be at least £11m, which is ahead of its previous expectations (FY23: Profit Before Tax of £10.1m).
The developing, manufacturing and commercialising products for the international self-care market announces a trading update for the six months ended 30 June 2024. Group revenues of £23.5m (H1 2023: £23.5m) were in line with plan and showed strong growth for VLG's Brands in the UK market. Solid free cashflow generation in the period resulted in a further net debt reduction of approximately £3.0m to £10.7m (31 December 2023: £13.7m). As is customary, revenues will be weighted towards the second half. The order book provides good visibility over current revenue guidance. The Board remains confident that trading for the full year is on-course to be in line with market expectation.
The research and data analytics group today issues a trading update for the full year ending 31 July 2024. YouGov now expects FY24 revenue to be approximately £327-330m and the adjusted operating profit to be £43-46m, slightly ahead of its revised guidance communicated on 20 June 2024. As of 31 July 2024, the Group remains well capitalised, with approximately £70m in cash and cash equivalents on the balance sheet and EUR16m of the revolving credit facility remains undrawn. Moving into FY25, Data Products and further development of AI capabilities will be key investment areas.
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