Dish of the day Joiners: No joiners today. Leavers: No leavers today. What’s cooking in the IPO kitchen?** Announced ITF 12 July: Substrate Artificial Intelligence, an artificial intelligence company based in Spain that creates, buys and scales companies around AI in diverse sectors such as fintech, agritech, energy, human resources, and health, intends to join the Access Segment of the AQSE Growth Market. Announced ITF 6 July: Blackpoint Biotech plc, a medical cannabinoids company established to fulfil gaps in the medical cannabis market by creating products that provide fast onset of action ...

Trackwise Designs - Termination of coverage

Edison Investment Research is terminating coverage on SandpiperCl (SANDPI), Mirriad Advertising (MIRI), Trackwise Designs (TWD), Lookers (LOOK) and BerGenBio (BGBIO). Please note you should no longer rely on any previous research or estimates for this company. All forecasts should now be considered redundant.

Edison Investment Research Limited: Trackwise Designs (TWD): Connection under demanding conditions

Edison Investment Research Limited Edison Investment Research Limited: Trackwise Designs (TWD): Connection under demanding conditions 14-Jan-2022 / 07:00 GMT/BST   London, UK, 14 January 2022   Trackwise Designs (TWD): Connection under demanding conditions Trackwise Designs has developed a proprietary, proven technology, IHT, for manufacturing extremely long, flexible circuits that can replace conventional wiring harnesses. This disruptive technology is applicable to many industries including electric vehicles (EVs), medical devices and aerospace. Since listing in July 2018, Tra...

Topps Tiles - Accelerating growth through Q125

Topps Tiles (TPT) is enjoying a return to revenue growth following a very challenging FY24 due to wider macroeconomic weakness. The company’s recovery is clearly being boosted by new revenue streams from its self-help initiatives, notably from trade and online customers across all of its brands. While the macroeconomic environment remains uncertain, it is pleasing that the strategy is supporting growth. The valuation continues to look compelling, even with limited macroeconomic recovery included in management’s long-term financial goals. With the Q125 trading update, the CEO has announced his ...

Baillie Gifford US Growth Trust - A unique high-growth strategy meriting support

Baillie Gifford US Growth Trust (USA) invests in exceptional US businesses with the potential to grow substantially faster than the market and deliver above-market returns. Such businesses tend to operate at the cutting edge of technology-led change and USA has exposure to companies focused on AI, space travel and online services. This note reiterates USA’s unique investment proposition and scrutinises a recent proposal from Saba, a US hedge fund manager, aimed at ousting USA’s board and replacing its investment managers. Saba currently owns less than 28% of USA shares in issue. The trust’s bo...

Greggs - More challenging environment in H224

Greggs has reported that FY24 profit is in line with management’s expectation despite the more challenging environment and slowing sales growth through H224. The more challenging market means that management is more cautious about the outlook for H125 than previously. With space expansion and recovery of cost inflation, it expects to deliver profit growth in FY25 albeit lower than previously anticipated. We have reduced our FY25 profit before tax estimate by c 2%.