Equity Development

#HERC #FUNDSRAISED #CONSTRUCTION #RECRUITMENT A successful week for Hercules Site Services PLC run by CEO Brusk Korkmaz and CFO Paul Wheatcroft. It raised £8m to strengthen the balance sheet and support future growth ambitions - new investors include Wasdell Packaging (controlled by entrepreneur Martin Tedham), Ged Mason, OBE, HonDBA, and The Diverse Income Trust. Its shares (AIM:HERC) have already doubled in 2024, but analyst James Tetley of Equity Development still sees the group as well positioned and raises his Fair Value from 55p per share to 60p. Read full analysis / hear summary: https://lnkd.in/eAMmMNuc

New report out today from Equity Development and Mike Jeremy on Mpac Group - plus a reminder that our Investor Presentation with Mpac's management is this Friday morning (8.30am) - sign up here! https://lnkd.in/euREVym4

Springfield Properties PLC Full Year Results Investor Presentation - 18th September 2024 Innes Smith (CEO), Iain Logan (CFO) and Sandy Adam (Chairman) will conduct an online presentation for investors following release of their Full Year results for the period ended 31st May 2024. The event will take place at 09.00am on Wednesday 18th September. The webinar is open to all existing and potential shareholders, and registration is free. Questions can be submitted during the presentation, to be addressed at the end. Register here: https://bit.ly/3z9wH8W

Mpac Group Interim Results Investor Presentation - 13 September 2024 Adam Holland (CEO) and Will Wilkins (Group Finance Director) will conduct an Investor presentation covering their Interim Results results for the six months ended 30th June 2024. This event will take place at 8.30am on Friday 13th September. The webinar is open to all existing and potential shareholders, and registration is free. Questions can be submitted during the presentation to be addressed at the end. Register here: https://bit.ly/47dtO3w

Gattaca In an encouraging year-end trading update Gattaca said NFI improved c.5% on a sequential half-yearly basis during H2, achieved against a backdrop of a challenging market. Guidance is unchanged for FY25, albeit any improvement in the underlying market is likely to result in an upward revision to estimates. Gattaca is clearly outperforming most of the quoted sector in NFI terms, declining by just 5% yoy during FY24, compared to a sector average of -11%. The group looks a highly attractive recruitment stock from the point of view of valuation, particularly as the net cash equates to 75% of its market cap. With no change to our estimates, we also retain our Fair Value at 140p / share.

Ultimate Products Andrew Gossage ULTP Ultimate Products FY24 Trading Update Sales & EBITDA in line with market expectations. We expect a strong revenue bounce back in FY2025 as international momentum gathers pace and Beldray and Salter benefit from their re-brands in the UK. Versus peer consumer goods companies we think the rating is too low and retain our 200p Fair Value/share. Read our report: https://bit.ly/3X1yrtV

*** Save the Date - Investor Presentation on Monday 12th August - sign up at the link below *** eEnergy (AIM: EAAS), the net zero energy services provider, is pleased to conduct an online Investor Presentation on Monday 12th August at 4.00pm (BST). Harvey Sinclair (Chief Executive Officer) and Crispin Goldsmith (Chief Financial Officer) will provide an update to investors following the company's recent H1 Trading Update, and answer questions submitted by viewers. The webinar is open to all existing and potential shareholders, and registration is free. You can sign up to register here: https://lnkd.in/eG2CCE4N

We initiate today on Speedy Hire. During a period of less favourable market conditions, Speedy Hire has taken a progressive approach to strategic business improvement and this programme is gathering momentum. As a result, we consider it to be much more than a cyclical recovery story.    Having traded at or below its 34p per share NAV for much of calendar 2023, Speedy’s share price broke through this level in the last month and has since sustained this momentum. It is now up c.14% YTD (versus c.3% for the FTSE All-Share Index).   On our estimates, Speedy is trading on low conventional forward multiples, particularly so by FY27, and that is before factoring in more ambitious company goals. With a 6.8% dividend yield, Speedy shares offer both income and growth. Taking a simple average of selected peer group multiples and our hybrid DCF/JV approach gives a mid-point fair value of 51.1p per share for the company which is c.34% above the current share price. Read the note here: https://lnkd.in/dsW5TBPk

Video recording now available *** Investor Presentation (Half year results) - August 2024 *** Charles Skinner (CEO) and Dan Baker (CFO) of Restore plc hosted an Investor Presentation covering its Half Year results for the six month period ended 30th June 2024. Management discussed highlights of the period, including the increased operating margin in Records Management, the integration of Digital into Records Management, and the £70m contract win in Digital with the DWP. The team provided a detailed financial overview with their expectations for the Group's full year performance remaining unchanged. Finally, management discussed the outlook and answered a range of questions submitted by viewers. https://lnkd.in/e7hrNicX

#RST Restore plc (AIM:RST) H124 results confirm early signs of improvement under the new strategy; revenue was flat but margins improved 140bps to 16.9%. Restore is a high-quality business operating in markets characterised by high barriers to entry, recurring revenues, attractive margins and sticky customer relationships. We initiate coverage this morning with a fair value of 400p/ share. Under a proven, driven and experienced management team, we see scope for consistent earnings growth over the medium term, which in-turn should see a rerating of the shares. https://bit.ly/3AgRA1S