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Sureserve adjusted earnings jump 22%

Sureserve (SUR) posted an upbeat set of Interim Results this week with revenue up 4.6% to £114.6m for the six-month period ended 31 March 2021.

The compliance and energy services Group said adjusted earnings jumped 22.1% to £4.8m, up from £3.9m for the same period last year.

Interim Chairman, Robert Legget is cautiously optimistic:

The shares have performed well since our October entry, and price have formed a strong uptrend with steepening trendlines.

Oxford Metrics announce Vicon contract win

Motion measurement and analysis Group, Oxford Metrics (OMG) announced akey contract win in the gaming industry…

Commenting on the deal, CEO Nick Bolton said:

“As the game industry continues to evolve rapidly, we have seen more and more games companies, both major developers and independents, choose Vicon to power their innovation. The creative team at Sharkmob are passionate about ensuring the quality and sophistication of their games, so we are proud that they chose a Vicon solution to launch their new studio, and we look forward to seeing continued innovation in their upcoming games”.

MTI Wireless Edge Q1 Pretax Profit Up 25%

5G antenna firm, MTI Wireless Edge (MWE) released their Q1 2021 results yesterday…

The numbers made for pleasant reading with revenue up 4% to $9.95m and pre-tax profit up 25% to $0.9m.

CEO Moni Borovitz, commented:

“Of particular note, is the continued growth in revenue, combined with the sharper growth in profitability as we benefit from our economies of scale, which translated into a 25% improvement in profit before tax.”

Ideagen grow recurring revenues

The beauty of a software-as-a-service (SaaS) business model is the high margin recurring revenues it tends to generate, and Ideagen (IDEA) is a prime example…

Ideagen released a trading update last week which revealed that annual recurring revenue (ARR) is expected to be £54.2m (30 April 2020: £43.1m), representing 83% of total revenues, up from 76% in the comparative prior period.

Commenting on the update, CEO Ben Dorks said:

Growth in organic and recurring revenue, in addition to excellent cash generation, reflects Ideagen’s resilience during the pandemic.  As a SaaS business, we remain focussed on growing recurring revenues and expanding our customer base.

Midwich expects to pay interim and final dividend

In an AGM statement released earlier this month, Midwich (MIDW) declared a resumption of its dividend payout.

Starting with a special dividend of 3p per share, the audio-visual specialist said that it expects to pay both interim and final dividends for the current financial year, payable in October 2021 and June 2022.

“Trading in the first four months of the year has been ahead of the Board’s expectations, and significantly ahead of the comparative period last year.  Although a number of the Group’s end user markets are expected to remain subdued for some time, good progress has been made in the rest of the business and all government employment support has now ceased.   Should vaccine programmes continue to progress successfully in the Group’s key markets, the Board now expects that revenue and profit for the full year will be comfortably ahead of its original expectations.”

Renew’s order book hits £750m

Renew Holdings (RNWH) share price has surged higher in recent weeks and this week’s Half-Year numbers revealed why…

The critical infrastructure Group said it’s order book for the six months ended 31 March 2021 hit £750m, up from £690m (HY 2020).

“We are delighted to be reporting another set of record results for the Group and I would like to thank my colleagues across the entire business for their hard work and contributions despite the ongoing wider challenges presented by the pandemic”…

“After reporting strong organic growth in the first half, trading has started strongly into the second half of the year and we look to the future with confidence. We are well positioned to take advantage of the UK Government’s commitment to level up the economy by investing £640bn in an infrastructure-led recovery that will bring significant opportunities for Renew and our differentiated, diversified, low-risk business model.”

Somero sees strength in US market driving growth

“The Board now expects FY 2021 annual revenues will approximate US$ 100.0m, adjusted EBITDA will approximate US$ 31.0m, and a consequential improvement in the anticipated year end net cash position”.  

Somero’s price chart reflects a picture-perfect uptrend, with prices currently consolidating in a small bull flag pattern.

Quixant says order intake remains strong

“We have continued to see healthy demand for our products across the business consistent with that communicated in the announcement of our financial results for FY2020 on 14 April 2021. Order intake remains strong, providing us with further improved order coverage for our internal full year budget. The global shortage of semiconductors is impacting many industries, including our own, and remains a risk we are continuing to manage.”

The shares have rallied strongly since our entry in February, and prices continue to build momentum.

Alumasc anticipates strong demand through remainder of year

Sustainable building products supplier Alumasc (ALU) released an upbeat trading statement last week in which it said momentum from a record First-Half had continued during the last quarter…

Conditions in the new build housing and maintenance sectors have continued to be strong into the second half year, and Alumasc said they anticipate “demand remaining strong through the remainder of the year to 30 June 2021”.

“Together with the benefit of the structural efficiency improvements made by the Group in recent years and the continuing progress on the Levolux turnaround plan, the Group is well positioned to benefit from the significant opportunities within our markets, both short and longer term.”