Buy Speedy Hire #SDY says VectorVest. Earnings and dividend hike indicates more growth to come.

Newton-le-Willows based Speedy Hire (SDY.L) was founded in 1977, and provides tool and equipment hire services to construction, manufacturing, industrial, and related industries. It offers a range of tool and equipment for hire, which include access towers, light plant, fencing, heating and cooling equipment, portable accommodation, pumps, generators and compressors, lifting equipment, safety equipment, rail equipment, heavy duty hammer drill, headroom hoist, and power pipe cutter, as well as instruments for surveying, civil engineering, and construction applications. SDY provides various asset services, including product specialization, testing and inspection, fuel management, survey service centre, on-sites, and hire direct, as well as a range of advisory services. It operates from over 200 depots across the UK and Ireland.

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On November 14th 2017, SDY published half-year results, which revealed pre-tax profits up 11% to £6m, EBITDA up 11.2% to £33.8m on revenues (excluding disposals) up 6.9% to £183.2m. Net debt fell to £63.1m (31 March 2017: £71.4m), and SDY reported a strong balance sheet and leverage 0.95 times EBITDA (2016: 1.47 times). As a result the dividend was raised by 51.5% to 0.50 pence per share. During the period, the UK and Ireland business were restructured to better align with the customer proposition and provide improved opportunities for cross-selling and operational efficiencies. CEO Russell Down said the board “are confident of delivering a result for the year above current expectations and that the Group has a strong future ahead of it.”

The improving picture at SDY had been flagged to VectorVest subscribers as far back as Nov 2016, when the shares rose sharply from 40p to hit a May 2017 year high of 59p. The subsequent retracement triggered a further VectorVest flag at the end of Sept 2017, at which point the GRT (Earnings Growth Rate) metric started to rise again, to stand at 27% currently. This is considered to be an excellent rating – GRT reflects a company’s 1-3 year forecasted earnings growth rate in % per year. Although the RS (Relative Safety) risk rating stands at just 0.98 for SDY on a scale of 0.00 to 2.00, the RV (Relative Value) rating, an indicator of long-term price appreciation potential stands at 1.41 – again excellent on a scale of 0.00 to 2.00. Finally VectorVest values SDY at 64.11p per share, indicating nearly 20% upside from the current 55p.

The chart of SDY.L is shown below in my usual format. The share is trading below the VectorVest valuation and is on a Buy recommendation. The share has found solid support at around 50p on numerous occasions and looks set to break upwards towards the VectorVest valuation and beyond.

Summary: The strong half year results announced by SDY last week provides validation of the group’s efforts to restructure and improve efficiencies. The strong improvement in GRT flagged on the VectorVest platform gave subscribers a window of opportunity to pick the stock up at a modest valuation, while the 51% hike in the dividend is a clear and confident signal from the SDY board of more growth to come.

Dr David Paul

November 22 2017

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European Financial Publishing Limited T/A VectorVest UK (VectorVest) is authorised and regulated by the Financial Conduct Authority under register number 543038. You should remember that the value of investments and the income derived therefrom may fall as well as rise and you may not get back the amount that you invest. Past performance is not a reliable guide to the future. This material is directed only at persons in the UK and is not an offer or invitation to buy or sell securities. If investors are in any doubt of the suitability of an investment given their individual circumstances, they are recommended to contact an investment manager or independent financial adviser who may be able to provide tailored advice. Opinions expressed whether in general or both on the performance of individual securities and in a wider economic context represent the views of VectorVest at the time of preparation. They are subject to change and should not be interpreted as investment advice. VectorVest and connected companies, clients, directors, employees and other associates, may have a position in any security, or related financial instrument, issued by a company or organisation mentioned on this site. European Financial Publishing Limited is a company incorporated in Scotland under Company Number SC357322 with its registered address at Exchange Tower, 19 Canning Street, Edinburgh EH3 8EH. Email: support@VectorVest.comFREE! For free VectorVest analysis on any stock, go to this link here

Countryside Properties -A Lesson in Clarity and Profitability

United Utilities UU must have decided to make its half year report as obscure and meaningless as possible. Thus it is full of PR19S, ODIs, RCV Gearing and the latest craze, System Thinking. What it wont do because presumably it would make the figures for the 6 months to the end of September too easy to understand, is tell you the percentages by which mundane things like revenue and profit in all its various guises have risen. That is a fairly easy task for even the most junior office boy in most head offices – but perhaps I should not run the risk of being regarded  as sexist when of course I should have said “junior person”. So you can have your profits four ways – underlying, reported, underlying after tax and  reported after tax   but what you are definately not allowed to see are the figures on a statutory basis. The figure all show reasonable increases and the interim dividend is going up from 12.95p to13.24p per share. What that rise means in percentage terms is however a closely gaurded secret, known only to that junior person at head office who is the only member of senior management with the System Thinking skills able to work it out.

Thomas Cook Group TCG has woken up to the fact that it is a “good thing” to claim to have a customer focused strategy. Not before time, some may say, after the traumas of recent years. How serious they are about it remain to be seen but having discovered that it can lead to profitable growth,  there may be a fair chance that they will give it a go.

Their table of figures is not all that easy to understand but I think I have got it after the third reading. Profit after tax for the year to the 30th Spetember has risen from 1 to 12 which is clearly shown as a difference of  11 which in the last colomn becomes a like for like rise of 7 on a constant currency basis. If you would like to know what the 7 means you are invited to proceed to page 12 – clearly this must be part of the new customer focused strategy. Underlying earnings per share is understandable with a rise from 8.1p to 9.3p and there is an explanation that like for like group revenue on a constant currency basis has risen by 9%. The recommended dividend is  0.6p per share but we are not enlightened as to whether that is a rise or a fall on last year. Perhaps I should go back to page 12 to find out. And before I forget, cutting complexity is one way in which they intend to produce further growth. Some chance.

Countryside Properties CSP shows how it should be done. Simple. On an adjusted basis earnings per share rose by 71% in the year to the end of September, revenue was up by 32%, completion by 28% and operating profit by 34%. It was an excellent and record year and perhaps one of the most significant statistics (which will be very unwelcome to the competition) is that they reduced the average selling price by 8% which most housebuilders would regard as a criminal offence.

Finsbury Foods FIF announces that the UK retail food market hass moved from a deflatioary to an inflationary environment and thus helped to take the load off managements shoulders which is now finding it easier to run a bakery profitably. UK sales have risen by 5% whilst European sales are down by 3% despite all those fancy baguettes, brioches and black unsliced.

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Feedback #FDBK – Presentation at RSNA 2017

Feedback plc (AIM: FDBK), the specialist medical imaging technology company, announces that Dr Balaji Ganeshan will be presenting at the 103rd Scientific Assembly and Annual Meeting of the Radiological Society of North America (“RSNA 2017”) taking place from 26 November to 1 December 2017 in Chicagbalajio (IL), USA.

The details for the oral presentation on the study undertaken at the Institute of Nuclear Medicine, University College London, UK are as follows:

Date and session time: Wednesday 29 November at 15:00 – 16:00 CST

Title: Texture Analysis of 68Ga-DOTATATE Positron Emission Tomography and Computed Tomography Images as a Prognostic Biomarker in Adults with Neuro-Endocrine Cancers Treated with 177Lu-DOTATATE

Abstract number: SSM13-06

Session: Molecular Imaging (Analysis and Quantification)

Room: S504C

Presenter: Balaji Ganeshan, PhD

Two additional papers co-authored by Dr Balaji Ganeshan will be presented at RSNA 2017; one by Seoul National University and University College London focused on liver cancer (abstract SSK07-05), and one by Cambridge University, the University of Rome and University College London focused on ischemic stroke (abstract SSQ15-02).  Overall, RSNA 2017 is expected to include at least 18 scientific paper presentations featuring TexRAD® Computed Tomography Texture Analysis (CTTA) and Magnetic Resonance Texture Analysis (MRTA), many of which have won awards in this year’s RSNA categories.  Further information can be found at https://rsna2017.rsna.org/program.

Dr Balaji Ganeshan, Director of New Business at Feedback plc, said: “RSNA is the premier global event for radiologists and the increasing focus on our TexRAD® technology is encouraging. As seen in previous years, our renowned customers will highlight multiple TexRAD® presentations across various disease indications, further emphasising the significance of our technology across the healthcare industry.  We look forward to discussing TexRAD® with this year’s RSNA delegates.”

TexRAD® is the Company’s patented quantitative image texture analysis technology for diagnostic radiological scans.  The technology has the potential to assist clinicians in diagnosis, prognosis and treatment of patients with cancer, or other disease indications, and is currently installed in over 40 of the world’s leading research institutions across Europe, North America, Asia and Australasia.  By analysing the texture features in computerised tomography (CT) scans, magnetic resonance images (MRI) and positron emission tomography scans (PET/CT), TexRAD®‘s quantitative imaging capabilities provide clinicians with additional, visually imperceptible information to make better decisions in order to improve patient outcomes.  

TexRAD® research to date has shown great potential in many different oncological and non-oncological sites.  In particular, the papers being presented at RSNA 2017 focus on liver, pancreatic, kidney, cervical, oral, genitourinary, head & neck, thyroid, neuroendocrine and endometrial cancers, as well as gastrointestinal stromal tumours, gliomas, thymic-epithelial neoplasms and carotid-plaques.  On 20 November 2017, Feedback announced the CE marked release of TexRAD® Lung, a “software only” Class 1 medical device, to help advance lung cancer diagnosis.  Further information on the TexRAD®technology can be found at www.texrad.com.

– Ends –

Notes to editors 

About Feedback plc

Feedback plc is a specialist medical imaging technology company. It develops software and systems that provide innovative techniques and improved workflows for practitioners involved in medical research and treating patients. TexRAD®, the Company’s patented quantitative image texture analysis technology, has the potential to assist clinicians in diagnosis, prognosis and treatment of patients with cancer and is currently installed in over 40 of the world’s leading research institutions across Europe, North America, Asia and Australasia. The Cadranplatform provides a suite of medical imaging tools for decision support. The Cadran range includes the picture archiving communication system (PACS) to provide decision support for scan analysis, diagnostic workstations which provide secure remote access to view scans on demand, and products to securely share and transport patient data. Visit www.fbk.com.

For further information, please contact:

Feedback plc

Dr Alastair Riddell, Chairman

Lara Mott, Investor Relations

 

Tel: 01954 718072

hello@fbk.com

Shares Spotlight interview with Kiran Morzaria, CEO of Cadence Minerals #KDNC

Shares Spotlight interview with Kiran Morzaria, CEO of Cadence Minerals #KDNC. Kiran discusses the changes in Cadence since the part sale of the Bacanora holding, which has allowed the company to restructure it’s loan note, reduce coupon payments and increase the pace of it’s investments without any dilution. Kiran looks forward to 2018, and discusses likely developments.

Brand CEO Alan Green talks Bitcoin $BTC, i3 Energy #I3E & SciSys #SSY on VOX Markets podcast

Brand CEO Alan Green talks Bitcoin $BTC, i3 Energy #I3E & SciSys #SSY with Justin Waite on VOX Markets podcast. The interview is 27 minutes 57 seconds in.

The Poles Are Doing Well Back Home

Kingfisher KGF Third quarter sales illustrate the problems facing many European high streets. The UK & Ireland did reasonably well with a rise of 1.5% on a like for like and constant currency basis although this was only possible because of a 10.2% rise at Screwfix. France, Russia and Spain performed badly and the only bright spot was Poland with a gain of 6% but that was perhaps to be expected now that all those Polish plumbers and plasterers have left the UK and gone back home  for a better life. Overall the total result was a decline in sales of 0.5%. Let us hope that this is not a harbinger of things to come as the internet takes over.

CRH plc CRH the 9 months to the end of September saw the continuation of underlying growth in the Americas, although this was impacted by adverse weather. Positive momentum in Europe continued with a 2% rise in sales but Asia was bad news with the first halfs decline in sales rising by 50% in quarter 3 to 12%. Like for like EBITDA in Asia slumped by 45% whilst the rest of the world only managed a tiny rise of 2%. Once again the Poles came up trumps with cement volumes well ahead of 2016.

Entertainment One ETO claims strong and robust first half results with last years loss of 2.5m being wiped out and replaced with a reported profit before tax of 0.8m. Revenue was stable and on an adjusted basis, profit before tax rose by 53%.

Halma HLMA produced record revenue, profits and dividends in the six months to the 30th September, with both statutory profit before tax and earnings per share rising by 18%. Revenue was up by 15% with growth in all major regions and sectors. The interim dividend is to be increased by 7%

Homeserve HSV is increasing its interim dividend by 15% for the half year to the 30th September after good rises of 17% in EBITDA and 13% in adjusted operating profit. Strong momentum continued in North America and there was further growth in France & Spain

Big Yellow Group BYG is increasing its interim dividend by 13%  in line with adjusted profit before tax, after a good first half performance and a rise in like for like revenue of 6%

 

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Round the Clock Trader today features Dr David Paul of VectorVest and Brand CEO Alan Green

Round the Clock Trader today is hosted by Simon Campbell and Zak Mir. Dr David Paul of VectorVest talks market timing, Games Workshop #GAW, Prudential #PRU, Volex #VLX. His slot is 20 minutes in. Brand CEO Alan Green talks Feedback #FDBK, Advanced Oncotherapy #AVO and Petrofac #PFC. His slot is 52 minutes 30 seconds in .

Feedback Plc (FDBK) – Trevor Brown shareholding

Feedback announces that it has been advised by Trevor Brown that following share sales last week, he is now beneficially interested in 37,929,111 ordinary shares of 0.25p each, representing 15.39 per cent of the issued ordinary shares of the Company.

For further information, please contact:

Feedback plc
Dr Alastair Riddell, Chairman

Lara Mott, Investor Relations

Tel: 01954 718072

hello@fbk.com

Allenby Capital Limited (Nominated Adviser and Joint Broker)
David Worlidge / James Thomas

Tel: 020 3328 5656

Northland Capital Partners Ltd (Joint Broker)
Patrick Claridge / David Hignell / John Howes

Tel: 020 3861 6625

Peterhouse Corporate Finance Ltd (Joint Broker)
Lucy Williams / Duncan Vasey

Tel: 020 7469 0936

Access Intelligence – A Little Acorn ?

Access Intelligence ACC has in the last five months produced growth of £450,000 in net annual contract value compared to £0.2m in the the whole of the first half. October alone produced growth of £130,000. The success follows a decision to concentrate on establishing Vuelio as a flagship brand. New clients include household names such as Dyson, BMW, Thomson Reuters, Sellafield and Lloyds, on top of which, it has also captured over 50% of UK councils and universities and 85% of police authorities.

William Hill WMH updates that it has delivered a good financial performance so far during the second half. Net revenue from 28th June to the 24th October rose by 4%. The US led the way  with a rise of 28% and UK online wagering came in with a 14% rose.

Mitie Group MTO has been busy transforming itself and building foundations during the half year to the 30th September but could not do anything to stop a large cut in the interim dividend which has been reduced to 1.33p per share, compared to last years 4p. Adusted basic earnings per share was down by 60% and reported operating profit fell by 38%.

Diploma plc DPLM Produced double digit growth in revenue and earnings in the year to he 30th September. Revenue rose by 18% and both profit before tax and basic earnings per share were up by 24%. Shareholders received their reward with a 15% rise in the interim dividend  to 23p. per share. The CEO described it as another strong performance with contributions from all sectors of the group.

NEX Group NXG has, despite a 13% rise in revenue (7% on a constant currency basis) been forced to slash its interim dividend from 11.5p to 3.5p. per share after statutory operating profit for the half year to the 30th September fell by 29% and statutory earnings per share by 45%. The CEO says it is an agile company, with market leading products, investing in innovation and led by an experienced management team.

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Feedback plc #FDBK – First CE marked release of TexRAD® technology

Feedback plc (AIM: FDBK), the specialist medical imaging technology company, announces the first CE marked release of TexRAD®; the Company’s patented quantitative image texture analysis technology for diagnostic radiological scans.

TexRAD® has the potential to assist clinicians in diagnosis, prognosis and treatment of patients with cancer and is currently installed in over 40 of the world’s leading research institutions across Europe, North America, Asia and Australasia.  Feedback’s subsidiary company, Cambridge Computed Imaging Ltd, has affixed a CE mark to “TexRAD® Lung”; a “software only” Class 1 medical device providing additional information for the interpretation of computerised tomography (CT) and positron emission tomography (PET) scans of patients with lung cancer.  The CE mark confirms that TexRAD® Lung meets the requirements of the Medical Device Directive (MDD – 93/42EEC) ensuring the technology satisfies the quality, safety and performance standards for medical devices in the European Union (EU).

Lung cancer has been the most common cancer in the world for several decades, estimated at 13% of all cancer diagnoses globally.  It is also the most common cause of death from cancer worldwide, estimated to be responsible for nearly one in five.  In the EU alone there are approximately 417,000 new cases of lung cancer every year.  Radiologists are under significant pressure due to increasing patient numbers, more examinations required per patient and the need for earlier diagnosis.  By analysing the texture features in CT scans, TexRAD®‘s quantitative imaging capabilities provide clinicians with additional information to make better decisions in order to improve patient outcomes.

Dr Alastair Riddell, Chairman at Feedback plc, said: “TexRAD® Lung is our first TexRAD® product with a CE mark which represents a significant accomplishment. This development will expedite TexRAD®‘s clinical use in the treatment of lung cancer across the EU, expand its market presence and support the Company’s ongoing commercial discussions for the technology. We expect that the rigorous regulatory review required for the CE mark will pave the way for TexRAD®‘s clinical use worldwide and we are now investigating the clinical application of TexRAD®in liver cancer and chronic obstructive pulmonary disease (COPD). By arming clinicians with disease-specific tools, we believe this technology has the potential to transform radiological decision making.”

– Ends –

Notes to editors

About Feedback plc

Feedback plc is a specialist medical imaging technology company. It develops software and systems that provide innovative techniques and improved workflows for practitioners involved in medical research and treating patients. TexRAD®, the Company’s patented quantitative image texture analysis technology, has the potential to assist clinicians in diagnosis, prognosis and treatment of patients with cancer and is currently installed in over 40 of the world’s leading research institutions across Europe, North America, Asia and Australasia. The Cadran platform provides a suite of medical imaging tools for decision support. The Cadran range includes the picture archiving communication system (PACS) to provide decision support for scan analysis, diagnostic workstations which provide secure remote access to view scans on demand, and products to securely share and transport patient data. Visit www.fbk.com.

About CE marking

CE marking (and compliance with the directive) is legally required before placing a device on the market in the EU.  An appropriate quality management system and the preparation of a technical file are requirements for CE marking.  The CE technical file is a comprehensive description of the device intended to demonstrate compliance with the Medical Device Directive and contains extensive documentation on the use, design, risk assessment, testing, clinical evaluation and manufacture of the device.

For further information, please contact: 

Feedback plc

Dr Alastair Riddell, Chairman

Lara Mott, Investor Relations

 

Tel: 01954 718072

hello@fbk.com

Allenby Capital Limited (Nominated Adviser and Joint Broker)

David Worlidge / James Thomas

 

Tel: 020 3328 5656

Northland Capital Partners Ltd (Joint Broker)

Patrick Claridge / David Hignell / John Howes

 

Tel: 020 3861 6625

Peterhouse Corporate Finance Ltd (Joint Broker)

Lucy Williams / Duncan Vasey

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