Equity Development enables companies to become better understood and supported by investors. Since our launch in 1996 we have consistently focused on helping our clients improve their communication and relationships with both existing and potential shareholders. Our clients have come from a wide variety of sectors and domiciles, are both private and quoted and range in size from micro-cap to $multi-billions. We offer free access to company research notes written by experienced analysts. These notes include detailed forecasts, financial models and a fair value. We host regular Private Investor Forums at which investors have the opportunity to hear company directors present, and to ask questions. These are free to attend. We broadcast live Webinars with company management that include active Q&A. We also make the recordings available online. We arrange face to face meetings between private investors and company management. We are active users of Twitter, commenting daily on company news, share price moves, Directors’ Dealings, Equity Development Research Notes & Events.
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Caroline Gulliver
- Caroline Gulliver
“All day” success, all year round
Loungers has announced record FY24 Sales of £353.5m, up 24.7% and 22.2% excluding the 53rd week. This exceptional performance was 2.7% ahead of our estimate as FY24 LFL sales growth of 7.5% was maintained into the final 21 weeks, outperforming the industry again. Even more impressively, FY23/FY24 new sites contributed c.15% to revenue growth as Loungers’ unique all-day café-bar model continues to attract new customers nationwide, ranging from coastal towns to mixed use retail / leisure schemes. ...
Andy Smith
- Andy Smith
A year of progress, and addressing the future
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. With the increased focus on the partnering of XF-73 nasal, we were left in no doubt after the analysts’ meeting that XF-73 nasal is both a valuable asset and that it will be partnered at some point in time. While an e...
Simon Strong
- Simon Strong
Excellent momentum in new orders
Corero has secured $8m of orders from both existing and new customers in the first four months of FY24E. The group reported a 17% YoY growth rate in annualised recurring revenue (ARR) last year. This level of momentum in orders not only supports our double-digit % growth forecasts, but also validates the Group’s go-to-market strategy. We are forecasting +13% growth in revenues in FY24E to $25.3m (unchanged), With gross margins high at 90%, the drop through rate of incremental revenues to earnin...
Mike Jeremy
- Mike Jeremy
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 Group expects that FY24 (adj.) EBITDA should be in line with the current market consensus expectation of £7.8m (ED estimate was £7.6m). The year-end cash position was approximately £22.0m; we estimated £20.1m. The Group also noted EBITDA delivery against the background of maintained investment in R&D, the...
David O'Brien
- David O'Brien
Trading update - activity remains on budget
The pre-close trading update from Driver Group delivered encouraging progress overall, with the smaller regions returning to profitability 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. Cash continues to remain high, representing 32% of the market capitalisation. The strategy put in place in H2 of FY23 is expected to deliver higher revenues and profitability ahead of 2027, not least reflect...
