Edison Sparks - Morning News

Through Sparks, we give you first-impression commentary on breaking news from Edison clients and their peers. Sign up to our daily email for an overview of the key stories in the market today.

26-07-2019 07:17:06 • 2 minute(s) read
Author Daniel Wilkinson

Shield Therapeutics (STX); FDA approves Feraccru with a broad label

This is hugely positive

The FDA has approved Shield Therapuetics’ lead asset Ferraccru, for the treatment of iron deficiency in adults. The FDA has granted the broadest label possible which means adults with iron deficiency of any underlying cause can be prescribed Ferraccru (to be marketed as Accrufer in the US). This is upside to our previous assumptions where we had assumed a narrower label and enables a larger commercial opportunity. Shield is in discussion with a number of potential commercial partners in the US who will market Accrufer on its behalf. This is hugely positive.

26-07-2019 07:16:41 • 2 minute(s) read
Author Sparks Team

Entertainment One (ETO); re-confirms multi-year production deal with Mark Gordon

Entertainment One announced that Mark Gordon, an American television and film producer, will continue to develop and produce content for the group through a multi-year producing deal across all its platforms. According to the company, following its successful integration, Gordon will focus on developing and producing content for the group. Steve Bertram will be in full leadership and oversight of the day-to-day management of the film and television business working closely with Peter Micelli and Nick Meyer.

Financials & real estate
25-07-2019 12:12:55 • 1 minute(s) read
Author Sparks Team

Eyemaxx Real Estate AG (BNT1); publishes H118/19 preliminary figures

The half-year report will be published on 31 July 2019

Eyemaxx Real Estate AG (Eyemaxx) presented its preliminary figures for H118/19 period ended 30 April 2019 today. In the period, EBIT increased to €6.5m compared to €6.2m in H117/18, while net income was ahead of the previous year’s figure by 31.6% reaching €2.9m. Eyemaxx’s equity at the end of April 2019 stood at €66.6m, compared to €63.6m at the end of October 2018.

25-07-2019 11:59:46 • minute(s) read

Einhell (EIN3); publishes preliminary H119 numbers

Einhell, which produces and markets tools for DIY use ranging from power tools, stationary machines to car tools, reported preliminary H119 numbers yesterday. Revenues reached €323m, up 4.3% year-on-year. Despite revenue growth, H119 earnings before tax fell by 14% year-on-year to €20.3m.

25-07-2019 11:52:37 • minute(s) read

HELLA (HLE); Hella meets targets for the financial year 2018/19

Cautious outlook for the financial year 2019/20

Hella, one of the leading producers of lighting technology and electronics for the automotive industry, reported preliminary full-year 2018/19 numbers for the financial year today. Revenues amounted to €7bn, up 5% year-on-year, adjusted for currencies and consolidation changes. Adjusted EBIT reached €585m, up 5.9%.

Financials & real estate
25-07-2019 10:45:00 • 1 minute(s) read
Author Sparks Team

Deutsche Börse AG (DR1); reports 11% growth in Q219 adjusted EPS

Higher operating costs for growth initiatives and consolidation effects were more than offset by the transition to IFRS 16

Deutsche Börse published its Q219 results yesterday. The company’s net revenues increased by 6% year-on-year to €724.8m, with structural growth of around 5%, in line with Deutsche Börse’s full-year guidance of at least 5%. When adjusted for non-recurring costs of €31.5m (Q218: €54.3m), largely related to efficiency measures as well as business combinations and acquisitions, EBITDA reached €465.5m, up by 9% year-on-year. Consequently, adjusted EPS stood at €1.58, up by 11% year-on-year.

25-07-2019 08:14:46 • minute(s) read
Author Sparks Team

GoCompare.com Group (GOCO); Price Comparison revenue is broadly flat for the first six months

GoCo Group’s interim results show limited revenue growth and profit has been heavily impacted by the investment in the launch of weflip. Group revenue grew by 0.3%, and adjusted operating profit fell from £21m in H118 to £12.5m in H119.

25-07-2019 08:07:00 • minute(s) read
Author Sparks Team

AstraZeneca (AZN); release second quarter results

Sales of $5.72bn were indeed modestly higher than analysts' consensus estimates

AstraZeneca’s second-quarter 2019 results were expected to be the continued reversal of many quarters of negative sales growth, as its new products continued to reverse the sales growth trend that started last quarter.

25-07-2019 07:50:40 • 1 minute(s) read
Author Sparks Team

Primary Health Properties (PHP); adjusted EPRA earnings increases 63.2% to £27.9m for H1 2019

Transformational merger and improving rental growth drive strong performance.

Primary Health Properties announced its interim results for the six months ended 30 June 2019. Adjusted EPRA EPS increased by 12.0% to 2.8p, while net rental income increased 43.9% to £53.8m. DPS rose 3.7% to 2.8p.

25-07-2019 07:34:21 • 3 minute(s) read
Author Sparks Team

discoverIE Group (DSCV); reports 8% increase in group sales in Q1 2019

Full year earnings expected to be in line with the Board’s expectations

discoverIE Group issued its trading update for the first quarter of the financial year ending 31 March 2020. Trading in the first quarter has been good against strong comparators. The group is on track to deliver full year earnings in line with the board’s expectations.

25-07-2019 07:30:58 • 2 minute(s) read
Author Sparks Team

Tyman (TYMN); revenue increases 10% to £301.9m for H1

Management reports that operating profit will be impacted by the North American footprint-related issues in the current financial year

Tyman announced its results for the six months ended 30 June 2019. Adjusted operating profit increased 10% to £41.9m, while adjusted EPS was flat at 13.14p. DPS rose 3% to 3.85p, in line with progressive policy. Tyman’s 2018 acquisition, Ashland hardware, is on track to generate $5m annual synergy benefits from 2020. The company also acquired Y-cam to support the development of its new Smartware product pipeline.

25-07-2019 07:28:29 • minute(s) read

Low & Bonar (LWB); disposes Needle-Punched Non-Wovens business

Low & Bonar has agreed to dispose its Needle-Punched Non-Wovens (NPNW) business for a cash consideration of €17.3m to Nimbus, a Netherlands-based private equity fund. The disposal will comprise the sale of the entire issued share capital of Low & Bonar NV and Low & Bonar Kft, which are based in Belgium and Hungary, respectively.

25-07-2019 07:24:51 • 2 minute(s) read
Author Sparks Team

Findel (FDL); Studio revenue increases c.3%

Guidance for the full year remains unchanged

Findel announced its trading statement for the 16-week period to 19 July 2019 ahead of its AGM today. Studio revenue grew c.3% against a strong comparator from the prior year (up c.11% in Q1 against a full-year outturn of 8%), with recent weeks showing significantly stronger levels of growth.

25-07-2019 07:23:44 • 2 minute(s) read
Author Sparks Team

De La Rue (DLAR); report expectations for 2019/20 remain unchanged

Performance expected to be heavily tilted towards second half of the year

De La Rue announced today that expectations for 2019/20 remain unchanged from the full year results statement issued on 30 May 2019. The group expects performance to be heavily weighted towards the second half of the year based on its expectations from planned timings of cost cutting initiatives and Product Authentication & Traceability (PA&T).

24-07-2019 13:53:00 • 1 minute(s) read
Author Christian Breitsprecher

edding (EDD3); reports sharp drop in H119 results on the back of problems in Argentina

Company cuts 2019 and 2020 guidance

edding AG reported preliminary H1 numbers today. While H119 revenues were up slightly by 2% year-on-year to €69.7m, EBIT dropped by 50% to €3.2m, coming in significantly weaker than expected just a month ago, according to the company.

24-07-2019 09:50:00 • 1 minute(s) read
Author Sparks Team

FinTech Group AG (FTK); announces preliminary H119 figures

Management increases its FY19 EBITDA margin target to 31% from 29%

FinTech revealed today its preliminary H119 figures, posting an increase in revenues to €64.3m from €58.5m and EBITDA at €19.7m versus last year’s €18.4m. FinTech highlights it achieved the growth on the back of the positive performance of flatex (its online brokerage business) despite lower market volatility in H119 versus H118 and a one-off investment due to market entry into the Netherlands.

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