News blog

AIM 50 Digest 13 May 2022

  • BY: Andrew Hore |
  • POSTED: 16/05/2022 |

Fully listed LXi REIT has launched an agreed offer for Secure Income REIT (SIR). The bid is based on the March valuation of the property company’s net tangible assets and is 3.32 LXi shares for each Secure Income REIT share. There is a partial cash alternative of 118.88p a share available for up to one-quarter of the shares. Shareholders will still receive the 3.95p a share quarterly dividend payable on 7 June. The LXi management company will also buy the investment advisor to the AIM company for £40m. There should be £8.6m of annual cost savings.
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In the year to February 2022, FD Technologies (FDP) grew revenues by 11% to £263.5m, but pre-tax profit was one-fifth lower at £9m. Net cash was £300,000. The software company has increased recurring revenues of the KX business on the back of additional investment and perpetual licence sales are being phased out. Annual recurring revenue growth should accelerate. This year’s revenues could be up to £300m and profit could grow at a faster rate.
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Vet practices owner CVS Group (CVSG) has acquired Anton Vets in Andover for £6m. This is a single site business and there is no concern about it being blocked by the competition authorities. Like-for-like growth continues and staff shortages due to Covid should reduce in importance.
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IQE (IQE) has entered the microLED market in partnership with Porotech. They can be used in wearable devices and smart displays.
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Interim figures were in line with the trading statement made by Numis Corporation (NUM) and international business continues to increase. The outlook is difficult for the broker to assess. Revenues are expected to fall by one-third to £145.8m and profit by two-thirds to £25.1m.
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Revolution Beauty (REVB) says that 2021-22 revenues will be in line with expectations of £194m and the beauty products supplier will return to profit. Elizabeth Lake has been appointed as finance director.
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Learning Technologies Group (LTG) generated organic growth of 8% in 2021 and acquisitions have been fully integrated. Earnings per share increased by 17%. Net debt was £141.4m at the end of 2021. The full year dividend was increased by one-third to 1p a share. This year margins are set to be better than expected, helping earnings per share to grow.
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The bid battle for CareTech Holdings (CTH) continues, while trading is in line with expectations.  Results will be published on 16 June.
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Like-for-like growth of 3% was achieved by textile rental and workwear provider Johnson Service Group (JSG) in the first quarter of 2022. Hotel and catering demand continues to recover, while 87% of 2022 energy requirements have been secured for the rest of the year at below current levels. There should be an interim dividend this year.
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Pan African Resources (PAF) has acquired 11.8 million shares for £2.55m in London and South Africa. These shares have been cancelled. 
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Remote monitoring technology developer Big Technologies (BIG) director Daren Morris has bought 30,000 shares at 243p each, which takes his stake to 360,000 shares. Polar Capital (POLR) non-exec Alexa Coates has bought 8,000 shares at 527.99p each. Abcam (ABC) non-exec Sally Crawford acquired 13,141 ADRs at $15.361 each and 1,859 ADRs at $15.7165 each. Keywords Studios (KWS) chairman Ross Graham bought 4,557 shares at 2183.4676p each, while non-exec David Reeves acquired 470 shares at 2116p each.

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