29th Oct 2020. 9.04am

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Cohort win three new contracts

Defence technology specialists Cohort (CHRT) announced that its subsidiary Chess Dynamics has been awarded three new contracts.

The deals are worth a combined value of approximately £16m and cover its Naval, Land and Custom business areas.  Initial work will commence in the Group’s current financial year, and deliveries will take place from 2021 through to 2028.

Cohort CEO Andy Thomis commented:

“These contracts further demonstrate Chess’s leading technological capability in ground based air defence, naval surveillance and high accuracy tracking and builds its export position. Together with other recent contract wins at Chess and across the Group, this announcement further demonstrates the visibility of our medium and long-term revenues.”

CHRT Daily Candle Chart

CHRT Daily Candle Chart

Bango scales up in Asia as revenue delivers record growth

Mobile payments platform Bango (BGO) announced the expansion of its Asia sales team – bringing in Man Pham as Regional Vice President from Fortumo, which recently merged with Boku.

The news follows recent announcements of new customer wins and record revenue growth in the first half of 2020. The new hires will support the continued growth of commerce though the Bango Platform in Asia.

Paul Larbey, Bango CEO commented:

“Online merchants working with Bango acquire, retain and monetize more users than they could outside the Bango circle. Man Pham and Keisuke Kishida bring experience and leadership to the Bango Asia team. We look forward to welcoming many new merchants to the Bango Platform in 2021, and accelerating their growth across Asia”.

BGO Daily Candle Chart

BGO Daily Candle Chart

Bioventix full-year profit before tax up 18%

Bioventix (BVXP) released a strong set of Full Year numbers last week which saw revenue, profit and cash generation all jump higher year-on-year.

The antibody licencing specialist delivered 18% profit growth and 11% revenue growth for the year ended June 30 2020.

Cash at year end was up 27% to £8.1m and they also announced a special dividend of 53p per share.

The group statement said:

“We are delighted to be able to report such excellent financial results for the year despite the negative impact of the global pandemic during April-June 2020. The core business is linked to routine testing at hospitals around the world and this has undoubtedly been affected by the COVID-19 pandemic. The timing of a return to normality is uncertain but when it does, we expect our business will revert to an established trajectory”.

BVXP Daily Candle Chart

BVXP Daily Candle Chart

Eckoh delivers robust half-year performance

In a trading statement, released on Tuesday, Eckoh (ECK) said it had “delivered a robust performance in the period and in line with Board expectations, generating comparable levels of profit to the prior year, reflecting the resilience of its business model.” 

The secure payment provider indicated that high levels of recurring revenue, a solid order book and a strong balance sheet have enabled Eckoh to manage the impact of the global pandemic effectively – music to any analyst’s ears!

The shares have performed well since lockdown, and with prices consolidating near their highs, we expect Eckoh’s out-performance to continue.

ECK Daily Candle Chart

ECK Daily Candle Chart

GB Group break to new highs following impressive trading statement

GB Group (GBG) surged past key resistance at 805p this week as the data protection specialist indicated that total Half-Year revenues would come in at £103m.

The statement said:

“Increased revenue, combined with disciplined cost management, means that we expect to report adjusted operating profit of approximately £27 million, a 26% increase on last year.”

The group announced an interim dividend of 3p per share and expect Full-Year group revenue to be flat to marginally ahead of Full-Year 2020 on an underlying basis.   

GBG Daily Candle Chart

GBG Daily Candle Chart

IG Design’s second quarter sales indicate recovery

Gifting and stationary group IG Design (IGR) released an encouraging set of Half-Year numbers which saw headline revenues climb 40%.

$149m of the group’s $435m revenues came from its acquisition of CSS, and group revenues excluding CSS were 8.3% down year on year reflecting the impact of Covid-19.

However, it was IGR’s second quarter performance which delivered the most optimism as “second quarter sales ended up on the same period in the prior year”.  

The shares gapped higher on this news and these numbers could well lay the foundation for a recovery in the lead up to the festive period.

IGR Daily Candle Chart

IGR Daily Candle Chart

Quartix’s core business grows 7% despite pandemic impact

Shares in vehicle tracking system provider Quartix (QTX) gapped higher last week following an optimistic trading statement.

Despite the serious impact of COVID-19 on new subscriptions for tracking systems Quartix managed to achieve 7% revenue growth in its core fleet business compared with the first 9 months of 2019.

The statement also said that free cash flow for the year to 31 December 2020 to be in line with current consensus market forecasts, and adjusted earnings “expected to be approximately 15% ahead of current consensus market forecasts”.

Last week’s bullish price gap was the third in five months and this signals that short-term price momentum is starting to build.

QTX Daily Candle Chart

QTX Daily Candle Chart

SDI sees full-year profit ahead of expectations

SDI Group (SDI) has made a very good start to its new financial year with two of the groups businesses securing several new contracts.

Atik Cameras and MPB Industries, secured significant contracts to supply cameras and flowmeters, respectively, for PCR DNA amplifiers and for respirators.

SDI’s other businesses, which have all remained operational throughout the COVID-19 pandemic, have “seen customer order patterns showing a return towards normality” the trading statement read.

Chairman Ken Ford said:

“The Board pays tribute to all of our staff who have worked to keep their businesses profitable and cash generative during this crisis and in particular notes the extraordinary efforts of staff at Atik and MPB to increase production in aid of the global fight against COVID-19.”

The share have started to carve out a bullish series of higher swing lows during the last six months and SDI look well positioned to retest their January highs.

SDI Daily Candle Chart

SDI Daily Candle Chart


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