New Risk • May 13
New major risk - Revenue and earnings growth Earnings have declined by 0.3% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 0.3% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.6% net profit margin). Market cap is less than US$100m (UK£67.0m market cap, or US$90.4m). Upcoming Dividend • Mar 12
Upcoming dividend of UK£0.01 per share Eligible shareholders must have bought the stock before 19 March 2026. Payment date: 01 May 2026. Payout ratio is on the higher end at 78%, however this is supported by cash flows. Trailing yield: 6.2%. Within top quartile of British dividend payers (5.6%). Higher than average of industry peers (4.0%). Duyuru • Feb 06
NWF Group plc Approves Interim Dividend, Payable on 1 May 2026 The Board of NWF Group plc has approved an unchanged interim dividend per share of 1.0 pence (H1 2024: 1.0 pence), consistent with its longstanding dividend policy. This will be paid on 1 May 2026 to shareholders on the register as at 21 March 2026. The shares will trade ex-dividend on 20 March 2026. The Group has increased the annual dividend by approximately 4% in each of the last 14 years, reflecting the Group's strong underlying financial performance and position. Declared Dividend • Feb 05
First half dividend of UK£0.01 announced Shareholders will receive a dividend of UK£0.01. Ex-date: 20th March 2026 Payment date: 1st May 2026 Dividend yield will be 6.2%, which is lower than the industry average of 6.7%. Sustainability & Growth Dividend is covered by both earnings (78% earnings payout ratio) and cash flows (20% cash payout ratio). The dividend has increased by an average of 4.5% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 72% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Duyuru • Feb 05
NWF Group plc to Report Fiscal Year 2026 Results on Jul 29, 2026 NWF Group plc announced that they will report fiscal year 2026 results on Jul 29, 2026 New Risk • Feb 04
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 0.6% Last year net profit margin: 0.9% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.6% net profit margin). Market cap is less than US$100m (UK£67.9m market cap, or US$93.2m). Reported Earnings • Feb 04
First half 2026 earnings released: EPS: UK£0.014 (vs UK£0.032 in 1H 2025) First half 2026 results: EPS: UK£0.014 (down from UK£0.032 in 1H 2025). Revenue: UK£434.6m (down 4.3% from 1H 2025). Net income: UK£700.0k (down 56% from 1H 2025). Profit margin: 0.2% (down from 0.4% in 1H 2025). Revenue is forecast to grow 8.4% p.a. on average during the next 3 years, compared to a 1.1% growth forecast for the Oil and Gas industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. Duyuru • Jan 27
NWF Group plc to Report First Half, 2026 Results on Feb 03, 2026 NWF Group plc announced that they will report first half, 2026 results on Feb 03, 2026 Major Estimate Revision • Nov 23
Consensus EPS estimates fall by 26% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from UK£1.03b to UK£1.01b. EPS estimate also fell from UK£0.167 per share to UK£0.123 per share. Net income forecast to shrink 1.6% next year vs 26% growth forecast for Oil and Gas industry in the United Kingdom . Consensus price target down from UK£2.67 to UK£2.42. Share price fell 24% to UK£1.28 over the past week. New Risk • Nov 21
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: UK£78.8m (US$102.9m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (UK£78.8m market cap, or US$102.9m). Valuation Update With 7 Day Price Move • Nov 21
Investor sentiment deteriorates as stock falls 24% After last week's 24% share price decline to UK£1.28, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 5x in the Oil and Gas industry in the United Kingdom. Total loss to shareholders of 44% over the past three years. New Risk • Aug 01
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 45% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. This is currently the only risk that has been identified for the company. Duyuru • Jul 31
NWF Group plc Recommends Final Dividend for the Year Ended 31 May 2025, Payable on 5 December 2025 The Board of NWF Group plc is recommending a final dividend of 7.4 pence per share for the year ended 31 May 2025, to be paid to shareholders on 5 December 2025 (2024: 7.1 pence), giving a total dividend of 8.4 pence per share (2024: 8.1 pence). The proposed final dividend is subject to approval at the AGM on 25 September 2025 and has not been included as a liability in these Group financial statements. Ex-dividend date is 30 October 2025. Record date is 31 October 2025. Payment date is 5 December 2025. Duyuru • Jul 30
NWF Group plc, Annual General Meeting, Sep 16, 2025 NWF Group plc, Annual General Meeting, Sep 16, 2025. Location: brabners llp, 100 barbirolli square, m2 3bd, manchester United Kingdom Reported Earnings • Jul 29
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: UK£0.12 (down from UK£0.18 in FY 2024). Revenue: UK£903.1m (down 5.0% from FY 2024). Net income: UK£6.20m (down 32% from FY 2024). Profit margin: 0.7% (down from 1.0% in FY 2024). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 9.2%. Earnings per share (EPS) also missed analyst estimates by 10%. Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in the United Kingdom are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Duyuru • Jul 23
NWF Group plc to Report Fiscal Year 2025 Results on Jul 29, 2025 NWF Group plc announced that they will report fiscal year 2025 results on Jul 29, 2025 Duyuru • May 28
NWF Group plc (AIM:NWF) acquired Pinnock Brothers (Thatcham & Kintbury) Limited from Pinnock family. NWF Group plc (AIM:NWF) acquired Pinnock Brothers (Thatcham & Kintbury) Limited from Pinnock family in April 2025.
Dow Schofield Watts Corporate Finance Limited led by Ros Jones acted as financial advisor for NWF Group plc. Brabners LLP led by Rupert Gill acted as legal advisor for NWF Group plc. Headpoint Advisors Limited led by Mark Wilson acted as financial advisor for Pinnock Brothers Limited. Lodders Solicitors LLP led by Graham Spalding acted as legal advisor for Pinnock Brothers Limited. Parisi Tax LLP led by Lisa Stevenson acted as accountant for Pinnock Brothers Limited. Ross Brooke Limited led by Chris Davies acted as accountant for Pinnock Brothers Limited.
NWF Group plc (AIM:NWF) completed the acquisition of Pinnock Brothers (Thatcham & Kintbury) Limited from Pinnock family in April 2025. Upcoming Dividend • Mar 13
Upcoming dividend of UK£0.01 per share Eligible shareholders must have bought the stock before 20 March 2025. Payment date: 01 May 2025. Payout ratio is a comfortable 50% and this is well supported by cash flows. Trailing yield: 4.7%. Lower than top quartile of British dividend payers (6.1%). In line with average of industry peers (5.2%). Major Estimate Revision • Mar 11
Consensus EPS estimates fall by 14%, revenue upgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast increased from UK£992.7m to UK£1.00b. EPS estimate fell from UK£0.169 to UK£0.146 per share. Net income forecast to grow 1.3% next year vs 41% growth forecast for Oil and Gas industry in the United Kingdom. Consensus price target of UK£2.67 unchanged from last update. Share price rose 2.1% to UK£1.74 over the past week. Reported Earnings • Feb 06
First half 2025 earnings released: EPS: UK£0.032 (vs UK£0.055 in 1H 2024) First half 2025 results: EPS: UK£0.032 (down from UK£0.055 in 1H 2024). Revenue: UK£454.3m (down 3.9% from 1H 2024). Net income: UK£1.60m (down 41% from 1H 2024). Profit margin: 0.4% (down from 0.6% in 1H 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 1.9% decline forecast for the Oil and Gas industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Duyuru • Jan 21
NWF Group plc to Report First Half, 2025 Results on Feb 04, 2025 NWF Group plc announced that they will report first half, 2025 results on Feb 04, 2025 Upcoming Dividend • Oct 24
Upcoming dividend of UK£0.071 per share Eligible shareholders must have bought the stock before 31 October 2024. Payment date: 06 December 2024. Payout ratio is a comfortable 44% and this is well supported by cash flows. Trailing yield: 5.4%. Lower than top quartile of British dividend payers (5.7%). In line with average of industry peers (5.0%). New Risk • Sep 09
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: UK£74.2m (US$97.0m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Profit margins are more than 30% lower than last year (1.0% net profit margin). Market cap is less than US$100m (UK£74.2m market cap, or US$97.0m). Declared Dividend • Aug 02
Final dividend increased to UK£0.071 Dividend of UK£0.071 is 4.4% higher than last year. Ex-date: 31st October 2024 Payment date: 6th December 2024 Dividend yield will be 4.7%, which is lower than the industry average of 6.7%. Sustainability & Growth Dividend is well covered by both earnings (20% earnings payout ratio) and cash flows (36% cash payout ratio). The dividend has increased by an average of 5.0% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 13% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jul 31
Full year 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2024 results: EPS: UK£0.18 (down from UK£0.30 in FY 2023). Revenue: UK£950.6m (down 9.8% from FY 2023). Net income: UK£9.10m (down 39% from FY 2023). Profit margin: 1.0% (down from 1.4% in FY 2023). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 1.3%. Earnings per share (EPS) exceeded analyst estimates by 4.0%. Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in the United Kingdom are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Duyuru • Jul 30
NWF Group plc Recommends Final Dividend, Payable on 6 December 2024 The Board of NWF Group plc is recommending a final dividend of 7.1 pence per share, to be paid to shareholders on 6 December 2024 (2023: 6.8 pence), giving a total dividend of 8.1 pence per share (2023: 7.8 pence), which represents a 3.8% increase on the prior year. This is the 13th year that the Group has increased the total dividend, reflecting the track record of profitability and cash generation. Ex-dividend date: 31 October 2024. record date: 1 November 2024. Duyuru • Jul 19
NWF Group plc, Annual General Meeting, Sep 26, 2024 NWF Group plc, Annual General Meeting, Sep 26, 2024. Duyuru • Jul 18
NWF Group plc Announces Board Changes NWF Group plc announced the changes to its Board. Amanda Burton has been appointed to the Board as an Independent Non-Executive Director effective 18 July 2024, and as Chair with effect from the conclusion of the Group's annual general meeting to be held on 26 September 2024 ("AGM"). Amanda will succeed Philip Acton, who as previously announced, will retire from the Board at the conclusion of the AGM. Amanda will also assume the responsibility of Chair of the Nomination Committee. Amanda brings considerable experience to the Board gained from senior positions across the public, private and charity sectors spanning multiple industries. Amanda holds non-executive directorships at HSS Hire Group PLC, Elevate Services Inc, Post Office Limited and is chair of Green Light Trust. Amanda qualified as a lawyer with Slaughter and May before working in a variety of legal and operational roles spanning nearly 30 years, including the position of global Chief Operating Officer of Clifford Chance LLP and Group Legal adviser to Meyer International, overseeing its takeover by Saint Gobain in 2000. The Group is also pleased to announce that Tim Cooper has been appointed to the Board as an Independent Non-Executive Director effective 18 July 2024 and as Chair of its Remuneration Committee with effect from the conclusion of the AGM. Richard Armitage, who had been acting Chair of the Remuneration Committee, will stand down from that role but will continue as the Senior Independent Director and Chair of the Audit Committee. In his executive career, Tim held a variety of management positions over a period of nearly 20 years, most recently as an executive director and a member of the executive leadership team at Victrex plc. Tim is currently a non-executive director of Pressure Technologies plc and Renold plc. Amanda Jane Burton, aged 65, holds or has held the following appointments in the last five years: Current Directorships: Dalmarnock Timber and Plywood Company Limited, Elevate Services Inc, Green Light Trust, HSS Hire Group plc, John Wright & Son (Redditch) Limited, Post Office Limited, Robinson, David & Co. Limited and William Brown (East Anglia) Limited. Previous Directorships: Battersea Dogs and Cats Home, Belmead Kennels Limited, Connells Limited, Countryside Partnerships plc, Seckford Education Trust and Skipton Building Society. Timothy John Cooper, aged 65, hold or has held the following appointments in the last five years: Current Directorships: Avery Berkel Limited, Pressure Technologies plc and Renold plc. Previous Directorships: Victrex plc. Upcoming Dividend • Mar 14
Upcoming dividend of UK£0.01 per share Eligible shareholders must have bought the stock before 21 March 2024. Payment date: 01 May 2024. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 3.9%. Lower than top quartile of British dividend payers (6.1%). Lower than average of industry peers (4.7%). Duyuru • Mar 01
NWF Group plc Announces CEO Changes NWF Group plc announced that Richard Whiting, Chief Executive, has retired from the Board and the Company with effect from March 1, 2024. In line with the announcement made on August 1, 2023, Chris Belsham, currently the Chief Executive Designate, assumes the position of Chief Executive on March 1, 2024. Declared Dividend • Feb 02
First half dividend of UK£0.01 announced Dividend of UK£0.01 is the same as last year. Ex-date: 21st March 2024 Payment date: 1st May 2024 Dividend yield will be 3.9%, which is lower than the industry average of 6.5%. Sustainability & Growth Dividend is well covered by both earnings (30% earnings payout ratio) and cash flows (10% cash payout ratio). The dividend has increased by an average of 5.0% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to decline by 2.3% over the next 3 years. However, it would need to fall by 67% to increase the payout ratio to a potentially unsustainable range. Reported Earnings • Feb 01
First half 2024 earnings released: EPS: UK£0.055 (vs UK£0.093 in 1H 2023) First half 2024 results: EPS: UK£0.055 (down from UK£0.093 in 1H 2023). Revenue: UK£472.9m (down 13% from 1H 2023). Net income: UK£2.70m (down 41% from 1H 2023). Profit margin: 0.6% (down from 0.8% in 1H 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 1.8% p.a. on average during the next 3 years, compared to a 1.4% decline forecast for the Oil and Gas industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Duyuru • Jan 31
NWF Group plc Approves Dividend, Payable on 1 May 2024 The Board of NWF Group plc approved an unchanged interim dividend per share of 1.0 pence (first half of 2022: 1.0 pence), in line with its policy. This will be paid on 1 May 2024 to shareholders on the register as at 22 March 2024. The shares will trade ex-dividend on 21 March 2024. Buy Or Sell Opportunity • Jan 24
Now 24% overvalued after recent price rise Over the last 90 days, the stock has risen 14% to UK£2.23. The fair value is estimated to be UK£1.80, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has grown by 30%. For the next 3 years, revenue is forecast to decline by 0.8% per annum. Earnings are also forecast to decline by 6.1% per annum over the same time period. Major Estimate Revision • Jan 12
Consensus EPS estimates fall by 13% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from UK£0.204 to UK£0.178. Revenue forecast unchanged from UK£967.7m at last update. Net income forecast to shrink 41% next year vs 34% decline forecast for Oil and Gas industry in the United Kingdom. Consensus price target of UK£2.79 unchanged from last update. Share price fell 2.9% to UK£2.19 over the past week. Valuation Update With 7 Day Price Move • Nov 09
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to UK£2.30, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 6x in the Oil and Gas industry in the United Kingdom. Total returns to shareholders of 33% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at UK£1.20 per share. Upcoming Dividend • Oct 26
Upcoming dividend of UK£0.068 per share at 4.0% yield Eligible shareholders must have bought the stock before 02 November 2023. Payment date: 08 December 2023. Payout ratio is a comfortable 26% and this is well supported by cash flows. Trailing yield: 4.0%. Lower than top quartile of British dividend payers (6.8%). Lower than average of industry peers (6.1%). Duyuru • Aug 02
NWF Group plc Recommends Final Dividend for the Year Ended 31 May 2023, Payable on 8 December 2023 NWF Group plc announced that the Board recommended a final dividend of 6.8 pence per share for the year ended 31 May 2023, to be paid to shareholders on 8 December 2023 (2022: 6.5 pence), giving a total dividend of 7.8 pence per share (2022: 7.5 pence), which represents a 4.0% increase on the prior year. The proposed final dividend is subject to approval at the AGM on 28 September 2023. Record date is 3 November 2023. Ex-dividend date is 2 November 2023. Reported Earnings • Aug 02
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: UK£0.30 (up from UK£0.17 in FY 2022). Revenue: UK£1.05b (up 20% from FY 2022). Net income: UK£14.9m (up 77% from FY 2022). Profit margin: 1.4% (up from 1.0% in FY 2022). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 6.7%. Revenue is expected to fall by 1.8% p.a. on average during the next 3 years compared to a 3.5% decline forecast for the Oil and Gas industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Duyuru • Jul 21
NWF Group plc to Report Fiscal Year 2023 Results on Aug 01, 2023 NWF Group plc announced that they will report fiscal year 2023 results on Aug 01, 2023 Major Estimate Revision • Mar 10
Consensus EPS estimates increase by 44% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has improved. 2023 revenue forecast increased from UK£1.02b to UK£1.05b. EPS estimate increased from UK£0.18 to UK£0.259 per share. Net income forecast to shrink 36% next year vs 9.5% decline forecast for Oil and Gas industry in the United Kingdom. Consensus price target up from UK£2.68 to UK£2.79. Share price rose 5.9% to UK£2.70 over the past week. Upcoming Dividend • Mar 09
Upcoming dividend of UK£0.01 per share at 2.7% yield Eligible shareholders must have bought the stock before 16 March 2023. Payment date: 02 May 2023. Payout ratio is a comfortable 20% and this is well supported by cash flows. Trailing yield: 2.7%. Lower than top quartile of British dividend payers (5.6%). Lower than average of industry peers (5.8%). Recent Insider Transactions • Feb 05
Managing Director of Feeds recently sold UK£67k worth of stock On the 1st of February, Andrew Downie sold around 30k shares on-market at roughly UK£2.22 per share. This transaction amounted to 35% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Reported Earnings • Feb 01
First half 2023 earnings released: EPS: UK£0.093 (vs UK£0.11 loss in 1H 2022) First half 2023 results: EPS: UK£0.093 (up from UK£0.11 loss in 1H 2022). Revenue: UK£541.8m (up 35% from 1H 2022). Net income: UK£4.60m (up UK£9.80m from 1H 2022). Profit margin: 0.8% (up from net loss in 1H 2022). Revenue is forecast to grow 1.7% p.a. on average during the next 3 years, compared to a 5.5% decline forecast for the Oil and Gas industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Duyuru • Jan 18
NWF Group plc to Report First Half, 2023 Results on Jan 31, 2023 NWF Group plc announced that they will report first half, 2023 results on Jan 31, 2023 Price Target Changed • Dec 22
Price target increased to UK£2.68 Up from UK£2.38, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of UK£2.66. Stock is up 25% over the past year. The company is forecast to post earnings per share of UK£0.18 for next year compared to UK£0.17 last year. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Non-Executive Director Dawn Moore was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Oct 27
Upcoming dividend of UK£0.065 per share Eligible shareholders must have bought the stock before 03 November 2022. Payment date: 09 December 2022. Payout ratio is a comfortable 44% and this is well supported by cash flows. Trailing yield: 2.7%. Lower than top quartile of British dividend payers (6.1%). Lower than average of industry peers (6.9%). Reported Earnings • Aug 03
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: EPS: UK£0.17 (up from UK£0.16 in FY 2021). Revenue: UK£878.6m (up 30% from FY 2021). Net income: UK£8.40m (up 7.7% from FY 2021). Profit margin: 1.0% (down from 1.2% in FY 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 48%. Over the next year, revenue is forecast to grow 12%, compared to a 21% growth forecast for the oil industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Non-Executive Director Richard Armitage was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Mar 10
Upcoming dividend of UK£0.01 per share Eligible shareholders must have bought the stock before 17 March 2022. Payment date: 03 May 2022. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 3.4%. Lower than top quartile of British dividend payers (4.8%). Lower than average of industry peers (6.8%). Reported Earnings • Feb 02
First half 2022 earnings: EPS misses analyst expectations First half 2022 results: UK£0.11 loss per share (down from UK£0.033 profit in 1H 2021). Revenue: UK£402.6m (up 30% from 1H 2021). Net loss: UK£5.20m (down 425% from profit in 1H 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates. Over the next year, revenue is forecast to grow 9.8%, compared to a 15% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Major Estimate Revision • Dec 15
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast increased from UK£698.6m to UK£841.6m. EPS estimate unchanged from UK£0.17 at last update. Oil and Gas industry in the United Kingdom expected to see average net income growth of 34% next year. Consensus price target of UK£2.28 unchanged from last update. Share price was steady at UK£2.13 over the past week. Upcoming Dividend • Oct 28
Upcoming dividend of UK£0.062 per share Eligible shareholders must have bought the stock before 04 November 2021. Payment date: 10 December 2021. Trailing yield: 3.3%. Lower than top quartile of British dividend payers (4.0%). In line with average of industry peers (3.4%). Reported Earnings • Aug 04
Full year 2021 earnings released: EPS UK£0.16 (vs UK£0.18 in FY 2020) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2021 results: Revenue: UK£675.6m (down 1.7% from FY 2020). Net income: UK£7.80m (down 12% from FY 2020). Profit margin: 1.2% (down from 1.3% in FY 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 4% per year and the company’s share price has also increased by 4% per year. Upcoming Dividend • Mar 11
Upcoming Dividend of UK£0.01 Per Share Will be paid on the 5th of May to those who are registered shareholders by the 18th of March. The trailing yield of 3.2% is below the top quartile of British dividend payers (4.5%), and is lower than industry peers (3.8%). Is New 90 Day High Low • Mar 05
New 90-day high: UK£2.12 The company is up 5.0% from its price of UK£2.02 on 04 December 2020. The British market is up 3.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Oil and Gas industry, which is up 15% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is UK£1.63 per share. Reported Earnings • Feb 04
First half 2021 earnings released: EPS UK£0.033 (vs UK£0.039 in 1H 2020) The company reported a poor first half result with weaker earnings and revenues, although profit margins were flat. First half 2021 results: Revenue: UK£309.4m (down 11% from 1H 2020). Net income: UK£1.60m (down 16% from 1H 2020). Profit margin: 0.5% (in line with 1H 2020). Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 5% per year. 