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Warpaint London forecast update

Shore Capital has reintroduced forecasts for cosmetics supplier  Warpaint London following the completion of the acquisition Brand Architekts for £13.9m. 

The 2024 pre-tax profit forecast is £24m, rising to £29m in 2025, including a ten-month operating profit contribution of £1m from Brand Architekts. This reflects maintained expectations for the core business. A 2025 dividend of 13.5p/share would be twice covered by earnings. 

Brand Architekts came with around £7m of cash. This, and cash generation, is expected to more than double net cash to £17.4m by the end of 2025. 

The 2024 results will be reported in April and there should be more news concerning the acquisition integration.

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THIS MONTH'S TOPICS INCLUDE:

Performance of AIM new admissions in 2020

The QCA sets up AIM commission to assess future of the market

Avingtrans gains new HS2 contract

Avingtrans subsidiary Booth Industries has won a £4.5m contract to supply pressure rated fire doors to HS2. These doors provide access to railway tunnels in emergencies. 

Booth Industries already had a £36m contract with HS2 for cross-tunnel sliding doors that seal off passageways between tunnels. 

Production for the latest contract is not expected to start until the year to May 2027. 

Singer forecasts a 2024-25 pre-tax profit of £6.5m, down from £7.3m, as Avingtrans continues to invest in its medical division. Net debt could rise to £21m. Interim results are due to be published on 26 February. 

Vertu Motors hit by new car slump

Motor dealer Vertu Motors warned that UK retail care sale volumes are at the lowest level this century, although it has outperformed the market. Meanwhile, used car margins have not improved as hoped.

The zero emission vehicles mandate is a major issue for the sector. Margins are likely to be hit as car makers try to increase the market share of these vehicles to 28% in 2025. 

There will be an additional £10m of costs following the Budget. Progressive Research has cut its 2024-25 pre-tax profit forecast from £36.9m to £29.6m. Next year's figure has been slashed from £43.4m to £26.5m. A further £12m share buyback is planned. 

Avenir bond issue registry services 

Avenir Registrars is a significant provider of registry services for UK corporate debt issues. Debt is a strong accompaniment to equity fund raising.

The same core methodologies we apply at Avenir Registrars to equity issuance, ensuring that processes are optimised to keep timelines short and costs low, also sit at the heart of our debt issuance model. If you have clients who are looking for a cost-effective way of managing a debt issuance – either on a public or private basis – we’d be more than happy to talk.
 
More details can also be found at
 www.avenir-registrars.co.uk/bonds/

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