LIBERUM: Real Estate Investors: Further profitable sales reduce leverage

LIBERUM: Real Estate Investors: Further profitable sales reduce leverage

LIBERUM: Real Estate Investors* - Profitable sales drive valuation increase and NTA outperformance

QuotedData’s Real Estate Monthly Roundup – January 2023

Performance - 2022 ended with another difficult month for property companies as the sector continues to get to grips with the impact of higher interest rates. There were several funds that performed well during December, however, with secondary shopping centre landlord Capital & Regional top of the pile. For a second month on the trot Home REIT saw its share price tank after it came under attack from a short seller in November. Valuation moves - It was a mixed bag for valuations, with six-month

QuotedData’s Real Estate Monthly Roundup – January 2023

Performance - 2022 ended with another difficult month for property companies as the sector continues to get to grips with the impact of higher interest rates. There were several funds that performed well during December, however, with secondary shopping centre landlord Capital & Regional top of the pile. For a second month on the trot Home REIT saw its share price tank after it came under attack from a short seller in November. Valuation moves - It was a mixed bag for valuations, with six-month

LIBERUM: Real Estate Investors* - Further sales fund accretive buyback and drive debt reduction

LIBERUM: Real Estate Investors* - Profitable sales drive NTA growth whilst reducing leverage

LIBERUM: Real Estate Investors* - Further profitable sales set to drive capital return strategy

LIBERUM: Real Estate Investors* - Cash backed returns at a discount

LIBERUM: Real Estate Investors* - FY21 in line, delivering a respectable 13% total accounting return

LIBERUM: Real Estate Investors* - Strong private investor market driving asset sales

LIBERUM: Real Estate Investors* - All the right moves

LIBERUM: Real Estate Investors* - H1 c.7% ahead; a solid return to growth

LIBERUM: UK Small & Mid Cap Dispatches

Strong H1'23 results; forecasts upgraded

Strategic progress drives robust growth

H1 interims are in line. Argentex has delivered strong growth (+28% yoy revenue) by driving growth initiatives. New technology-enabled products have been launched, including Alternative Transaction Banking, which are already delivering compelling growth ahead of expectations. Pressing into Europe via the Netherlands is also delivering strong growth. At the core, client KPIs remain strong. We leave our forecasts unchanged, with revenue momentum continuing into Q3. We believe the current 12.4x Dec

Inflection point - fleet growth coming

Equals Group (EQLS LN) - Interims justify rise in forecasts

What’s new: Equals Group has delivered outstanding interims, which have exceeded even the positive commentary at the Capital Markets Day in May and the trading update on 5 July. With trading “ahead of expectations”, we raise our 2023E revenue forecast by 7% to £95m and adj EBITDA forecast by 11% to £20m, as well as nudging up our forecasts for 2024E and 2025E.

H1 23: focusing on capital generation

Promising results for M&G in H1 23. The new CEO, Andrea Rossi, continues to execute the company’s new strategy, and we have confidence that he is positioning M&G to surpass its financial targets for the 2022-24 plan. The H1 23 operating capital generation results significantly outperformed expectations, exceeding the consensus by more than 50%. This substantial capital accumulation is poised to deliver strong returns to shareholders, rewarding them for their patience during this transitional per

Gore Street Energy Storage + (GSF, House Stock, 84p) - Steady NAV growth

LIBERUM: Alpha Group International: Underlying strength

Taking the Upper Brand: Brands Sector Overview

The earliest dated brand has long been contested; the majority point to Kongō Gumi, a family run construction company that specialised in Buddhist temples in Japan; its documented record of ownership goes back to 578 AD. Like Kongō Gumi, several different brands have withstood the test of time, albeit without then same degree of longevity. The term brand originates from the 1500s and means "to burn" in Ancient Norse and was initially used to mark cattle for ownership. This practice can be consid

Morning Note – 26 September 2023

Debt reduction plan in face of higher interest rates

FY23 results were well flagged but the focus is likely to be on the outlook, where high interest rates continue to impact buyer confidence and therefore private sales rates, as well as increasing Springfield’s own cost of debt. This leads us to reduce our adj. EBIT forecast for FY24 by 24%, with a greater 48% reduction in our adj. EPS forecast. We expect net debt exc. leases of £55.1m in FY24. Management’s focus is on cash generation, with the dividend paused and a plan to sell c.£50m of land ov

SP Angel Morning View: Hawkish Fed statement weighs on market risk sentiment as dollar hits metal prices

LIBERUM: Forward Partners: Resilient H1, focus on cash

Morning Note – 18 September 2023

Hybridan Small Cap Feast 15-09-2023

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. Admission delayed. Announced ITF 6 July: Blackpoint Biotech plc, a medical cannabinoids co

LifeSafe Holdings - Good momentum, industrial distribution deal breaks new ground

LIFS' H1 results this morning reflect further strong revenue growth, with sales up 123% YoY, while the company has also inked its first major distribution deal for its industrial fluid product, a significant milestone. LIFS is the developer of innovative and patented fire solutions which are top sellers on Amazon both in the UK and in the very sizeable US market, where they were successfully launched early last year. While growing strongly, the company has also succeeded in lifting its gross mar