If you find this podcast useful please give it a rating and review on iTunes by clicking here
Welcome to taking stock on...on Monday 10th July 2023
It's a look at today's top business news & investment views. Including: The indices, winners & losers, most read RNS's & RNS of the Day
WINNERS
Helium One Global - Operational Update
Helium One Global the primary helium explorer in Tanzania, is pleased to provide an update on progress at its Rukwa (100% Operated) project area including details of its Phase II drilling programme.
Drilling of Tai Prospect in Rukwa Basin is on track for Q3 2023 following the acquisition of Epiroc Predator 220 drilling rig and completed mobilisation to Tanzania.
The Tai Prospect in Rukwa has a recently upgraded P50 Helium resource of 2.8 Bcf.
Ondo InsurTech - New five-year contract
Ondo InsurTech the London-listed leader in claims prevention technology for home insurers, is pleased to announce that Sweden's largest non-life insurer (Länsförsäkringar Trygghetstjänster) have signed a new five-year contract to support LeakBot's rollout across the group.
Länsförsäkringar first tested LeakBot in the Södermanland regional pilot which delivered a 40% penetration of addressable policyholders and an impressive 50% increase in new home insurance sales, in addition to the prevention of water damage claims.
If LeakBot achieve the same results across the Länsförsäkringar Group, then the total opportunity is worth over £30 million of revenue.
LOSERS
Totally PLC - Preliminary results
Financial highlights
• Revenue up 6.5% to £135.7 million (2022: £127.4 million).
• Gross margin increased 0.4pp to 18.4% (2022: 18.0%).
• Underlying EBITDA increased 11% to £6.9 million (2022: £6.2 million), excluding £0.6 million in exceptional items.
Post period update
The Board anticipates revenue in the year ahead to be lower than in the period to 31 March 2023. EBITDA is expected to be marginally below the period to 31 March 2023 reflecting improved margin driven by higher volumes in elective care, and the continued management and reduction of overhead spend.
The Board are confident that the actions and strategy put in place over the past 12 months will ensure the Company remains in a strong position to continue to grow significantly over the coming years.
EV / EBITA = 3?
Most Read RNS
Helium One Global - Operational Update
Helium One Global the primary helium explorer in Tanzania, is pleased to provide an update on progress at its Rukwa (100% Operated) project area including details of its Phase II drilling programme.
Drilling of Tai Prospect in Rukwa Basin, Tanzania on track for Q3 2023 following the acquisition of Epiroc Predator 220 drilling rig and completed mobilisation to Tanzania.
The Tai Prospect in Rukwa with a recently upgraded P50 Helium resource of 2.8 Bcf.
RNS Worth Reading
Future PLC - Share buyback programme
Future is proposing to return up to £45 million of cash to its shareholders, through the means of an on-market share buyback programme. A notice convening a general meeting (the General Meeting) at which shareholders will be asked to approve a resolution authorising the Company to buy back up to 10 per cent.
CAGR of revenue of 58%
CAGR of net profit 138%
P/E = 5
Featured on Vox Markets
Jason Tebb, CEO, & Simon Bullock, Interim CFO of OnTheMarket discuss their Final Results for the year ended 31 January 2023, in which they reported a strong financial performance achieving record revenues and profits, EBITA up 81% to £3.8m & cash up 35% to £11.3m.
LISTEN HERE: Results show a strong financial performance with record revenues and profits
Most Followed Company's on Vox Market
Ondo InsurTech - New five-year contract
Ondo InsurTech the London-listed leader in claims prevention technology for home insurers, is pleased to announce that Sweden's largest non-life insurer (Länsförsäkringar Trygghetstjänster) have signed a new five-year contract to support LeakBot's rollout across the group.
Länsförsäkringar first tested LeakBot in the Södermanland regional pilot which delivered a 40% penetration of addressable policyholders and an impressive 50% increase in new home insurance sales, in addition to the prevention of water damage claims.
If LeakBot achieve the same results across the Länsförsäkringar Group, then the total opportunity is worth over £30 million of revenue.
Charts
Helium One Global #HE1
Ondo InsurTech #ONDO
Totally PLC #TLY
Future PLC #FUTR
Petro Matad #MATD
OnTheMarket #OTMP
Top Business Stories
1. Pay pressures in Britain's labour market cooled further in June, according to a survey of recruiters published today, that could help ease some of the Bank of England's (BoE) concerns about inflation pressure.
The Recruitment and Employment Confederation (REC) and accountants KPMG said increases in starting salaries for permanent and temporary staff were the weakest since April 2021.
The monthly REC survey showed the availability of staff rose for the fourth month in a row to 57.6 from 55.6 in May, the steepest month-on-month increase since November 2009 excluding the coronavirus pandemic period.
2. Shareholders in Thames Water have agreed to provide a further £750m in funding as the company attempts to fight the threat of government control.
Thames also said it would be looking for an extra £2.5bn between 2025 and 2030.
The water firm has faced criticism over sewage discharges and leaks and is struggling under a mountain of debt.
3. The UK's hospitality sector is still short-staffed and businesses fear they will struggle to cope over the busy summer holiday season.
It comes as former government minister George Eustice called for EU workers to be allowed into the UK to ease post-Brexit shortages.
Trade body UK Hospitality also said staffing was in "serious crisis" - with vacancies 48% higher than pre-Covid.