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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David O'Brien
- David O'Brien
FY trading update shows group on right track
Diales has issued an update for the year to September, stating it traded broadly in-line with consensus expectations. This is encouraging, suggesting profitability was largely unchanged in H2 and in turn, higher EBIT margins. The delivery of the hub and spoke model is gathering pace and the group re-branding to Diales completed in July. Net cash increased to £4.3m (H1 ’24: £3.6m) representing 26% of the NAV and leaves the valuation of the operating business at a significant discount to peers. ...
Chris Wickham
- Chris Wickham
European growth prospects rise in importance
Ultimate Products released FY2024 results which confirmed the company’s August trading statement at the sales, EBITDA pre-tax profits and EPS levels. Detailed figures for sales by geographic region, brand, distribution channel and product category were published. Importantly, European sales advanced by 7%, moving to 34% of group sales from 30% in FY2023 as the company made significant advances with French and German discounters. This offset the negative impact of overstocking in the latter’s s...
James Tetley
- James Tetley
Site visit highlights cultural change, focus on growth
Restore held a well-attended investor and analyst site visit last week near Doncaster, taking in the new Markham Vale Records Management facility and a state-of-the-art Datashred facility at South Kirkby. The tours were hosted by local management and followed up by presentations from the Restore executive team. No new financial information was disclosed, but the visit did provide a clear link between the previously stated Group growth and margin targets and the actions being taken at divisional...
David O'Brien
- David O'Brien
‘New’ Gattaca on track and well positioned
For Gattaca FY24 was predominantly about self-help, ensuring that the business was in good shape to take maximum advantage once the market turns and to improve market share in the short term. The good news is that the FY24 results were in-line with revised expectations and there are positive signs in terms of initial recovery in fee income. Progress was made during what was a challenging year to meet many of the Board’s strategic goals. Progress was made in focusing staff numbers to align with...
Toby Thorrington
- Toby Thorrington
Titan tempers upward momentum
Hunting’s Q3 update highlights positive developments with OCTG shipments and cash flow/funding, but Hunting Titan/Perforating Systems (PS) has not seen a trading improvement in H2 to date. Consequently, we have reduced estimates to reflect this, although we continue to expect the company to report good EBITDA progress this year and next. H1 trading patterns continue into Q3. The first OCTG shipments to KOC have completed successfully. Allowing for this, the group order book is holding up well ...
