Smallcap Sweep. 26-Mar-20Part 2/2. 34 RNSs in total.
Tandem (TND) FY rev up 20%. EPS up 25%. Final div 3.04p + special div 2p. Net cash £5m (£4.9m). Had no shipments from China in Feb but still time to recover some of the lost production. Some major customers carried stock forward into this year, will impact sales. Believes FY21 can be strong but prepared for it to be seriously impacted by COVID-19.
Jaywing (JWNG) CEO scarpers. He is thanked. New CEO appointed.
Bigdish (DISH) marketing team furloughed so no further growth in restaurant numbers is expected until restaurants re-opened. Has cash until Dec, prev Q3.
Sareum (SAR) remains fully operational, although management's effectiveness may be impacted if restrictions are increased. To date there has been minimal impact on the Company's network of Contract Research Organisations.
Catalyst Media Group (CMX) H1 EPS down 22%. Main asset is 21% holding in Sports Information Services (SI). SIS's cash resources will be impacted by covid, SIS has £58m cash.
Intelligent Ultrasnd (MED) FY (end Dec) rev up 11%. Post-tax loss £4.2m (£3.4m). Co has implemented cost-saving that will enable the EBITDA for FY20 to remain in line with expectations. Expects to have sufficient funds to continue its simulation and AI business activities for the next twelve months, when rev from first AI software licence agreement expected to be generated.
Iqgeo Group (IQG) £1.8m expansion of contract with Tokyo Electric Power Company (TEPCO). This is already in expectations. Current backlog not materially impacted to date but covid may slow the rate of new orders.
GYG (GYG) maintaining operations in most of its locations in Northern Europe and USA, with a reduced level in Spain and France. Strong start to Q1 but too early to accurately predict covid impact. Cash & facilities sufficient to continue trading in the foreseeable future.
Tern (TERN) "Steering the ship in times of crisis will require course corrections and smaller maneuvers which we are modeling." Iceberg ahead cap'n.
Van Elle (VANL) guides FY to Apr below market expectations. "COVID-19 is now having a significant, direct impact on the Group. Many customer sites, particularly in the housing and regional construction sectors, have closed in the last few days, with some suppliers also suspending operations." Co will enter discussions with its bankers and other debt providers on medium-term financing options. Cancels div.
Mpac Group (MPAC) covid having an immediate impact, restricting customer interaction and site-based work. Guides order intake will be lower than expected. £19m net cash, 'very well positioned'. Passing final div.
Vianet Group (VNET) guides FY end Mar in line. Closures of pubs, bars and restaurants will have a material effect on almost all Smart Zones customers. Too early to predict impact on Smart Machines business. Confident co "has a cash runway well beyond the period which the Government has indicated as being the likely duration of this crisis."
Amiad Water Systems (AFS) FY pretax slumps to $0.1m ($4.8m). Warned in Dec. Co "entered 2020 with a higher backlog than at the same point in the prior year and expect growth for both the Irrigation and Industrial business units." Mindful of potential disruption to trade caused by the COVID...well-positioned for sustained profitable growth when normal business resumes."
Bigblu Broadband (BBB) Q1 positive. "COVID-19 situation may provide opportunities for us to support customers who sit outside the fibre footprint, we may be prevented from installing them due to government restrictions. That would result in increased "in flight" customers and may impact the timings of sales."
Hargreaves Services (HSP) no meaningful impact yet from Covid but can't assess the potential impact on the Group's trading performance over any clear timeline. £50m bank facility due to expire in Aug so some sweaty talks ahead.
Non Standard Finance (NSF) guides FY in line. Has cut lending volumes significantly across all three divisions. "We are however continuing to offer credit, subject to our detailed assessment of affordability, where there is an urgent need." Passing div.
Brickability Group (BRCK) guides FY (March) EBITDA in line with expectations. Has closed sites, working with suppliers on a return to delivery schedules as soon as possible. £22m cash and £10m undrawn credit.
Topps Tiles (TPT) guides material reduction in expectations for revenue and profit in H2. Shops closed. £20m of cash on hand plus £11m accordion facility (that's a new one to me) which is subject to lender approval. "In the event of a 12 week closure of retail premises, followed by a further quarter of materially reduced sales, when combined with the support detailed above, the Group believes that its cash reserves will provide it with good levels of liquidity for the remainder of the current financial year."
Knights Group (KGH) FY (Apr) trading in line so far. Covid: limited impact on revenues and cash flows. £23m undrawn facilities based on current market expectations for c.£17m of net debt at YE.
Boku (BOKU) Trends seen in Jan and Feb continued into March with "significant increases in new users of the Boku Payments Platform, particularly for streaming video services and gaming in those countries hardest hit by COVID-19...Transaction processing on existing customers is continuing unaffected."
London Security (LSC) closed most of its offices and that many of its engineers have stopped working.
Reach (RCH) first 12 weeks in line but too early to assess impact of COVID. Expects hits to ads, print circulation and events. Has net cash of £20.4m revolving banking facilities of £65m.
Notes (do not rely on the data)
TND: Price=114.85. Cap=6m. F/C for current FY*: EPS= NA, Prospective PE= NA, Revenue=NA.
Tandem Group is a designer, developer, distributor and retailer of sports, leisure and mobility products. The company’s products include bicycles and accessories, fishing, football training, garden and camping, and Homewares and household appliances.
JWNG: Price=3.64. Cap=3m. F/C for current FY*: EPS= NA, Prospective PE= NA, Revenue=NA.
Jaywing is a digital marketing service provider. The company through its segments Agency Services and Media and Analysis provides direct marketing, online marketing, and online public relations.
DISH: Price=0.68. Cap=2m. F/C for current FY*: EPS= NA, Prospective PE= NA, Revenue=NA.
SAR: Price=0.29. Cap=9m. F/C for current FY*: EPS= NA, Prospective PE= NA, Revenue=NA.
Sareum Holdings is engaged in drug discovery and development. The company is focused on cancer and autoimmune diseases and licensing them to pharmaceutical and biotechnology companies.
CMX: Price=50. Cap=11m. F/C for current FY*: EPS= NA, Prospective PE= NA, Revenue=NA.
Catalyst Media Group operates in the betting industry. The company primarily provides data, pictures and other details for betting purposes covering a range of sports with a focus on horse riding and greyhounds.
MED: Price=8.97. Cap=20m. F/C for current FY*: EPS= NA, Prospective PE= NA, Revenue=NA.
MedaPhor Group plc is a holding company engaged in the development, marketing and distribution of ultrasound simulation devices for use in the training of medical professionals.
IQG: Price=62.7. Cap=31m. F/C for current FY*: EPS= NA, Prospective PE= NA, Revenue=NA.
GYG: Price=58.5. Cap=27m. F/C for current FY*: EPS= NA, Prospective PE= NA, Revenue=NA.
GYG is a superyacht painting supply and maintenance company, offering services through operations in the Mediterranean, Northern Europe and the United States.
TERN: Price=4.76. Cap=13m. F/C for current FY*: EPS= NA, Prospective PE= NA, Revenue=NA.
Tern is an investment company which focuses on investing in quoted or unquoted technology companies to achieve capital growth.
VANL: Price=30.9. Cap=25m. F/C for current FY*: EPS= NA, Prospective PE= NA, Revenue=NA.
Van Elle Holdings is a geotechnical contractor offering ground engineering techniques and services to customers in construction end markets including the new-build residential, infrastructure, commercial, industrial and public non-housing sectors.
MPAC: Price=209.25. Cap=42m. F/C for current FY*: EPS= NA, Prospective PE= NA, Revenue=NA.
VNET: Price=54.5. Cap=17m. F/C for current FY*: EPS= NA, Prospective PE= NA, Revenue=NA.
Vianet Group is engaged in the designing, product development, sale and rental of fluid monitoring and machine monitoring equipment, together with the provision of data management and related services, both to the leisure and petrol forecourt trade.
AFS: Price=218. Cap=49m. F/C for current FY*: EPS= NA, Prospective PE= NA, Revenue=NA.
Amiad Water Systems is a producer and supplier of water filters and filtration systems. Its systems are used in two key markets, being the industrial market, which includes the municipal, ballast water and oil and gas markets and irrigation market.
BBB: Price=65.15. Cap=38m. F/C for current FY*: EPS= NA, Prospective PE= NA, Revenue=NA.
HSP: Price=210. Cap=68m. F/C for current FY*: EPS= NA, Prospective PE= NA, Revenue=NA.
Hargreaves Services is a coal mining company. It delivers key projects and services in infrastructure, energy and property sectors. Its offer services to sectors namely Coal Distribution, Industrial services, Logistics and Specialist earthworks.
NSF: Price=12.96. Cap=41m. F/C for current FY*: EPS= NA, Prospective PE= NA, Revenue=NA.
Non-Standard Finance is a credit service provider. Its services include unsecured loans, home credit and other credit facilities throughout the United Kingdom.
BRCK: Price=40.52. Cap=93m. F/C for current FY*: EPS= NA, Prospective PE= NA, Revenue=NA.
TPT: Price=38.52. Cap=76m. F/C for current FY*: EPS= NA, Prospective PE= NA, Revenue=NA.
Topps Tiles is engaged in the retail distribution of ceramic and porcelain tiles, natural stone, wood flooring and related products. It includes product such as bathroom tiles, kitchen tiles, floor tiles, wall tiles and other tools and essentials.
KGH: Price=327.2. Cap=261m. F/C for current FY*: EPS= NA, Prospective PE= NA, Revenue=NA.
BOKU: Price=66.5. Cap=170m. F/C for current FY*: EPS= NA, Prospective PE= NA, Revenue=NA.
Boku Inc is a carrier billing mobile payments company. The company's bank-grade payments technology allows consumers to charge purchases to their mobile phone bill.
* F/C for prev FY if Prelims released todayData: yahoo, Google, MorningstarDYOR, E&OE etc etc. Your sanity may be at risk if you invest in smallcaps. I may have a position in any or all of the shares covered. RNSshttp://www.investegate.co.uk/index.aspx?limit=-1@MrContrarian