30th Jun 2022. 8.59am

Regency View:


Regency View:


iEnergizer FY Pretax Profit Rises 55.5%

Against a backdrop of putting the company up for sale, iEnergizer (IBPO) have released a stellar set of Full-Year results…

The business process outsourcing company said Total Revenue increased 32.4% to $265.2m (2021: $200.3m), and Profit Before Tax (PBT) jumped 55.5% to $83.2m (2021: $53.5m).

iEnergizer increased share of revenue from most of its key international clients operating across verticals of Media & Entertainment, BFSI, Publishing Services and Online Training & Education; and added several new customers in E-Commerce, Telecom and E-Learning industry segments.

Marc Vassanelli, Chairman of iEnergizer, commented:

“We have secured several new customers across each of our divisions, as well as maintaining and deepening relationships with our existing key customers. The business has maintained a successful focus on recurring revenue streams, by capitalizing on iEnergizer’s advantageous position to service existing and new customers’ needs in the evolving digital technology landscape…

The first three months of fiscal 2023 have started well, continuing the recent positive trend, with extensions of existing contracts.”

IBPO Daily Candle Chart

IBPO Daily Candle Chart

Ceres Power Signs Deal With Shell

Fuel cell maker Ceres Power (CWR) added another blue-chip client to its roster this week in Shell…

Ceres announced that it has signed an agreement with Shell to deliver a megawatt scale solid oxide electrolyser (SOEC) demonstrator in 2023.

Shell is targeting to become a net-zero energy business by 2050. Shell and Ceres are building this partnership to utilise SOEC technology to deliver high-efficiency, low-cost green hydrogen.

Phil Caldwell, Chief Executive of Ceres commented:

“(The partnership) with Shell is a hugely important step for Ceres. The partnership endorses our business strategy and signals the potential of our SOEC technology to deliver low-cost green hydrogen for industrial decarbonisation at the scale and pace needed to reach net zero.”

Yuri Sebregts, EVP Technology, Shell said:

“Ceres, with their differentiating SOEC technology, have the potential to produce Hydrogen at an optimum cost and efficiency profile. The pilot and collaboration with Ceres are a step forward in maturing this promising technology towards industrial scale.”

CWR Daily Candle Chart

CWR Daily Candle Chart

Key acquisitions see Inspecs double their revenue and profit

Inspecs (SPEC) released their Final Results this week, and the numbers underlying how transformative recent acquisitions have been…

The eyewear manufacturer and distribution saw Group revenue increased 420% to $246.5m (2020: $47.4m) and gross profit jump 465% to $115.8m (2020: $20.5m) following the acquisitions of BoDe, EGO Eyewear and Hardy Amies during the last year.

Robin Totterman, CEO of Inspecs struck a bullish tone:

“Our ability to more than double our revenue, EBITDA and gross profit in the year is a reflection of our continued strategic investments in the period, coupled with organic growth…

Despite the current macro-environment, we are fortunate to be operating in a resilient market and I am pleased to report that we experienced strong trading in the first three months of the FY22 fiscal year. The significant progress we are making proves that our growth strategy is the right one, and I am confident that we will continue to deliver shareholder value in the long term.”

However, the market reacted negatively to the numbers – as investors chose to focus on a loss after tax of $5.4m (2020: $8.9m).

The shares are starting to trend lower on the price chart, but given the solid underlying numbers, we’re happy to stick with Inspecs for a while longer.

SPEC Daily Candle Chart

SPEC Daily Candle Chart

Anglo Asian release upbeat AGM statement

Azerbaijan gold miner Anglo Asian (AAZ) released a bullish trading statement ahead of its AGM last week…

Anglo Asian said that the agreement with the Government of Azerbaijan for new concessions will “significantly enhance” their portfolio in the country.

Anglo Asian produced a total of 64,610 gold equivalent ounces during the year, a 4% decline due to the lower gold grades of ore processed.

However, Anglo Asian reported a robust financial performance with revenues of $92.5m and profit before taxation of $12.6m.

Cash as at 31 December 2021 was $37.5m having paid $10.9m in dividends during the year. And all-in sustaining costs (AISC) for the year was $843 per ounce.

The statement also commented on Anglo Asian’s exploration programme:

“We continue to make progress with our extensive exploration programme which underpins our near-term production…

Early in 2021, we announced the discovery of Zafar, a new copper deposit at Gedabek. Its final mineral resources were announced in March 2022 and production is planned to start next year…

In March 2022, we were pleased to announce the discovery of a new gold vein, “Hasan”, to the south of the Gosha gold mine which will start production later this year. We are also making good progress at our restored contract area of Vejnaly with mining due to start later this month.”

AAZ Daily Candle Chart

AAZ Daily Candle Chart

Marlowe’s profit-before-tax jumps 123%

Marlowe’s (MRL) successful ‘buy and build’ strategy was evident in their Final Results, released yesterday…  

The business-critical services and software company said it had become the UK market leader in compliance software, with 25% of profits now generated from software.

“We are delivering at pace on our vision of becoming a one-stop provider for our customers’ compliance needs, with run-rate revenue now exceeding £430 million” commented Marlowe CEO, Alex Dacre.

“Our results reflect strong underlying organic growth of 9% and the contribution from acquisitions, which we are integrating successfully” he added.

Headline numbers were strong with revenue up 65% to £315.9m, of which £38m was recurring software revenue. Profit before tax increased 123% to £38.1m and earnings per share came in at 37.7p.

On outlook, Mr Dacre said:

“We remain confident in our progress towards the targets we set in February 2021, which are to achieve run-rate revenue of c.£500 million and adjusted run-rate EBITDA of c.£100 million by the end of FY24, which we expect to deliver materially ahead of schedule.”

MRL Daily Candle Chart

MRL Daily Candle Chart

Warpaint London make strong start to the year

In an AGM statement, released this week, Warpaint London (W7L) said it has “experienced strong trading in 2022 to date”.

The mid-market make-up manufacturer expects sales for the six months to 30 June 2022 to be ‘in excess’ of £24 m (H1 2021: £18.4m), a record for the Group and ahead of the board’s expectations at the start of the year.

“Strong growth in the sales of the Group’s branded products has been achieved in the UK and particularly in continental Europe” read the statement.

Commenting on outlook, Warpaint said:

“As in previous years, the Group’s sales are expected to remain second half weighted, reflecting Christmas seasonal sales, and with the Group having a strong current order book, ahead of the level at this time last year, I am confident that the Group will continue to perform well for the remainder of the year”.

W7L Daily Candle Chart

W7L Daily Candle Chart

Mulberry sees FY22 revenue moderately ahead of current expectations

Mulberry (MUL) released a robust set of Final Results this week…

The UK fashion house famed for its handbags said Group revenue jumped 32% to £152.4m (2021: £115.0m) “reflecting strong recovery post COVID-19”.

Gross margins increased to 71.7% (2021: 63.6%) due to strategic focus on full price sales and increased volume efficiencies.

UK retail sales increased 36% to £89.8m (2021: £66.2m) and China retail sales jumped 59% which contributed to the 28% increase in Asia Pacific retail sales, “reflecting ongoing development in the region”. International retail sales increased 20% to £40.4m (2021: £33.8m).

Mulberry CEO, Thierry Andretta commented:

“Whilst the economic and geo-political outlook remains uncertain, we are an iconic international brand with a clear strategy for future profitable, cash-generative growth. We remain well placed to continue to deliver sustainable returns to the benefit of all our stakeholders.”

MUL Daily Candle Chart

MUL Daily Candle Chart


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