Hybridan Small Cap Feast - 27 Sep 23

27th September 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment ob...

Zeus Real Estate, Building Products & Merchants Quarterly

House prices continue to tumble as transactional volumes fall: Nationwide House Price Index recorded an annual drop of 5.3% in August, the weakest rate since July 2009. Halifax House Price Index experienced a similar annual decrease of 4.6%. This has resulted in house prices decreasing between £14k - £15k YoY, according to the two indexes. While there are many possible reasons for this, we see the affordability for first-time buyers being a key driver. While markets are pricing in only 1-2 more ...

Safestyle UK: 3 directors

Three Directors at Safestyle UK bought 430,000 shares at between 10p and 11p. The significance rating of the trade was 68/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two y...

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 t...

Safestyle (SFE LN) - Tough trading conditions

H1 trading is in line with our forecasts, but persistent inflation and rising interest rates have adversely impacted demand in recent weeks, downgrading the outlook for H2. Proactive action on cost has restored run-rate profitability, whilst investment in brand awareness and increased market share should position the Group well for future recovery.

Audio Note: Safestyle - AGM statement

In this audio note, Zeus’ Andy Hanson summarises the investment case for Safestyle. Safestyle has released an AGM update indicating that trading remains on track with revised FY23 expectations. Listen to the audio note below, and read the full research here.

LIBERUM: Morning Comment

 Ilika, ATOME Energy, Anglo American, British Land, Mitchells & Butlers, Uniphar, Ashtead Technology, On the Beach, Safestyle, Market Highlights

LIBERUM: UK Small & Mid Cap Dispatches

 Ilika, ATOME Energy, Mitchells & Butlers, Ashtead Technology, On the Beach, Safestyle, SMID Market Highlights

LIBERUM: Safestyle* - Costs managed & awareness improving

Safestyle’s scheduled trading update says that the year has started in line with its expectations, and its full year guidance is unchanged. Price increases have mitigated input cost rises and the pace of investment and cost base and are being managed to maintain profit progression. The TV and radio campaigns in February and March have boosted brand awareness, which should improve future lead generation potential. We are confident that trading will strengthen through the year, as comps get easier...

Safestyle (SFE LN) - AGM statement

Safestyle has released an AGM update indicating that trading remains on track with revised FY23 expectations. We find this reassuring in the current environment, many light-side, consumer focused building product businesses have experienced significant declines in volume during the early months of 2023 and the CPA further reduced expectations for the UK RMI market in May. Cost pressures have started to moderate allowing the business to take a more commercial approach to pricing. This provides co...

Audio Note: Safestyle - FY22 Results

In this audio note, Zeus’ Andy Hanson summarises the investment case for Safestyle. Results are in line with the guidance provided in the year end trading update (2nd Feb) with revenue of £154.3m (+7.7% yoy) and an underlying loss before tax of £4.4m. Listen to the audio note below, and read the full research here.

LIBERUM: Morning Comment

Fevertree Drinks, Bytes Technology Group, Pollen Street, XPS Pensions, Alliance Pharma, Atlantic Lithium, Safestyle, Mining LOWdown, Market Highlights

LIBERUM: UK Small & Mid Cap Dispatches

Fevertree Drinks, Bytes Technology Group, Pollen Street, XPS Pensions, Alliance Pharma, Atlantic Lithium, Safestyle, Mining LOWdown, SMID Market Highlights

LIBERUM: Safestyle* - Investment for long term growth

Safestyle’s 2022 results are broadly consistent with its guidance. The expected swing from profit to loss was the result of a cyber-attack in early 2022 and further challenges later. Safestyle continued to invest in its brand and installer trading in 2022 and is committed to this again in 2023. This leads to some estimate cuts as the market is weakening, but is the right policy as better brand recognition will drive more leads and a reduction in lead costs. The 2023 estimate cut is disappointing...

Safestyle (SFE LN) - FY22 Results

Results are in line with the guidance provided in the year end trading update (2nd Feb) with revenue of £154.3m (+7.7% yoy) and an underlying loss before tax of £4.4m. With it firmly in the rear-view mirror, FY22 was somewhat of an annus horribilis for Safestyle. FY23 will see an improvement back to profitability but with pressure on consumer’s discretionary spending, higher interest cost, overall slower economic growth, and continued investment into the business, FY23 profitability is expected ...

Zeus Real Estate, Building Products & Merchants Quarterly Valuation Su...

Zeus presents the latest edition of the Real Estate, Building Products & Merchants quarterly summary of valuation, performance and earnings momentum. Key observations are as follows: • House price data is mixed, transaction numbers are subdued: The Halifax House Price Index increased 1.1% in February and average prices were broadly flat over the last quarter at £285k. However, data from Nationwide showed a 0.5% average price decline in February, down 1.1% year-on-year. These measures are calcul...

Hybridan Small Cap Feast - 02 Feb 23

02 February 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment objec...

LIBERUM: Morning Comment

Tech & Media Conference, SAS All Cap Monthly, Pets At Home, Advanced Medical Solutions, Atlantic Lithium, Gemfields, ATOME, Safestyle, Market Highlights

LIBERUM: UK Small & Mid Cap Dispatches

Tech & Media Conference, SAS UK SMID Monthly, Pets At Home, Advanced Medical Solutions, Atlantic Lithium, Gemfields, ATOME, Safestyle, SMID Market Highlights

LIBERUM: Safestyle* - Order book ahead & 2022 ended well

Safestyle’s trading update for the year to December 2022 confirms that results will be in line with our and consensus expectations. The pickup in orders seen in early November has continued and the order book is ahead of the prior year at the end of January. Management is confident in a return to profit in 2023, acknowledging obvious challenges, but expecting to gain share due to its value proposition and expecting some resilience in window demand as interest in energy conservation continues. Th...