Hybridan Small Cap Feast

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Accrol Group Holdings 36.05p  £115.0m (ACRL.L)

The independent tissue converter, announces a trading update ahead of its Final Results for the year ended 30 April 2023, scheduled to be released in September. Revenue increased 52% to £241.8m (FY22: £159.5m), and adjusted EBITDA is expected to be in line with market expectations. Adjusted net debt is lower than last year at £26.8m (FY22: £27.5m). The Board expects the Group’s results for FY23 to be in line with current market expectations.

Anglesey Mining 1.65p  £4.9m (AYM.L)

The UK mining company focused on Zinc, Copper and lead deposits in the Parys Mountain region in North Wales announces its intention to raise gross proceeds of c.£1m by proposed placing of new ordinary shares at a price of 1.5p per share. The Issue Price represents a discount of c.28.57% to the closing price of 2.10p on 15 May 2023. The use of proceeds include; Commence drilling of the Northern Copper Zone; Continuing to advance the permitting and Environmental Impact and Social Assessment of the Parys Mountain mine; Commence baseline studies for the Grängesberg Iron Ore Mine in Sweden; and for general working capital purposes.

Atlantic Lithium 33.78p  £205.8m (ALL.L)

The funded African-focussed lithium exploration and development company targeting to deliver Ghana’s first lithium mine, announces the appointments of Keith Muller as Chief Executive Officer and Len Kolff as Head of Business Development & Chief Geologist, both effective immediately. Mr Muller has over 20 years of operational and leadership experience and a background in hard rock lithium mining and processing. Mr Kolff will be responsible for the ongoing exploration activities of the Company and identifying and developing growth opportunities.

Boohoo Group 40.8p  £517.5m (BOO.L)

The global fashion brand announces its final results for the 12 months ended 28 February 2023. Revenue decreased 11% to £1.769bn (2022: £1.98bn), gross profit reduced by 14% to £895.2m (2022: £1.041bn) and adjusted EBITDA decreased 49% to £63.3m. Net cash at year-end of £5.9m. During the period, the Group completed a £91m capital expenditure investment to support growth ambitions. For the year ending 28 February 2024 (FY24), revenues are expected to be between flat and a decline of 5% vs. the prior year, however adjusted EBITDA is expected to be between £69m to £78m, in line with marker expectations. Over the medium term, the group expect adjusted EBITDA margin of 6-8%.

Hercules Site Services 37p  £23.1m (HERC.L)

A technology enabled labour supply company for the UK infrastructure sector, provides a trading update for the six months ended 31 March 2023. Revenue is expected to be over £37m for the first six months, representing an increase of c. 85% year-on-year (H1 2022: £19.9m). The Group is trading in line with expectations.

Renew Holdings 728.5p  £576.5m (RNWH.L)

The engineering services group supporting the maintenance and renewal of critical UK infrastructure, announces its interim results for the six months ended 31 March 2023. Group revenue increased 13.9% to £471.8m (HY22: £414.3m), adjusted operating profit and profit before tax increased by 20.9% and 20.9% to £26.9m and £26.3m respectively. The Group order book currently stands at £890m (HY22: £771m). The Board remain confident that full year  results will be in line with expectations.

Shoe Zone 202.5p  £96.7m (SHOE.L)

A company focused on the sale of a wide range of footwear nationwide announces its interim results for the 26 weeks to 1st April 2023. Revenue for Company increased 7.9% to £75.4m (2022 H1: £69.9m), although profit before tax decreased by c.50% to £1.5m (2022 H1: £3.1m). The Company holds net cash of £12.9m (2022 H1: £13.9m). Shoe Zone opened 17 new stores, 6 refits and 41 closed down during the period. Full year results are in line with market expectations.

SmartSpace Software 45.5p  £13.2m (SMRT.L)

The provider of Integrated Space Management Software for smart buildings and commercial spaces announces its audited final results for the year ended 31 January 2023. Revenue grew by 48% to £5.06m (FY22: £3.41m), and annual recurring revenue (ARR) increased 25% to £5.59m (FY22: £4.23m). The Group reported an Adjusted EBITDA loss of £0.77m (FY22: £2.38m). Cash balance at the end of the period of £1.96m (FY22: £2.76m). During the period, 807 new customers were added contributing £0.9m of new ARR. The Group continues its international expansion with launch of fully localised products into Taiwan, China and Germany.

Sureserve Group 124.25p  £206.5m (SUR.L)

The Social Housing Energy Services Group, announces its unaudited interim results for the six-month period ended 31 March 2023. Revenue increased by 23% to £155.3m (H1 2022: £126.2m), EBITA increased 41.2% to £7.2m (H1 2022: £5.1m) and its profit before tax increased 55.8% to £6.7m (H1 2022: £4.3m). The Company holds net cash of £14.4m (31 March 2022: £11.8m). The Company announced 44 contract wins in H1 with a total contract value of £93.2m (H1 2022: £101.2m). Sureserve have good visibility of revenue streams with 98% of FY23 expected revenue covered by the order book.

Zenova Group 5.25p  £4.9m (ZED.L)

A provider of fire safety and heat management technology solutions announces that  Clastrom (its sub-distributors in Spain and Germany) has placed a first order for the FX500 aerosol fire extinguisher for an initial 40,000 units (with a retail value of £800k). Clastrom’s first delivery of 10,000 units will be supplied by the 15th July 2023 and the rest to be delivered before the year end. The Company anticipate increasing production and sales via our expanding sub distributor network.

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