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Ameriprise Financial, Inc. and its group holding increased - Thye obviously know good value - i WILL BE BOASTNG about this one in the coming weeks/months. GOOD luck
i was scrambling around to find out why this morning and all i found out was that it was re-rated by credit suisse. i was d*mn near to hitting the buy button at 2212p but in the end, didn't. good luck.
I had bouhgt at last "big" drop and bought at around 2350 and glad to see these begiinning to recover - sound faundamentals but anyone know why such a good rise today?
Numis has upgraded its recommendation on engineering software and services group AVEVA [LON:AVV] to ‘buy’ from ‘add’ on the back of the recent share price weakness, after the company published a disappointing set of interim results, last month. The shares are down by over 13 per cent since the company reported a miss in its Enterprise Solutions division, on 18 November. The broker said: “The ability to absorb speed bumps and continue delivering forecasts speaks volumes for the fundamental strength of AVEVA and we think a dip of this nature provides a buying opportunity on one of the highest quality tech names around.” Analysts have left their price target unchanged at 2,980 pence per share.
The reduction of shares 16 to 15 explains some of the price movement. That equates to something like 150p so with the 147 makes 300p so let's see if it hits 2200.
63,858,420 New Ordinary Shares
while this company continues to bring home cash the recent special dividend of 147p/share does does not really explain the 2280 jump to 2508 in the last couple of days ( a 228p jump) so even if this drifts down by the 147 we are still looking at an SP if 2360 rather than the Barclays' target of 2100. Hard to see where to jump in.
Aveva: Jefferies raises target price from 2560p to 2740p and retains a buy recommendation.
Aveva: Jefferies takes price target from 2300p to 2560p, while its buy recommendation remains unchanged. Seymour Pierce increases target price from 1780p to 1940p, but still recommends selling. JP Morgan ups target price from 1600p to 2300p and retains a neutral rating.
Challenges in BrazilDelays in project awards and local resource constraints in Brazil had a negative impact on the group's growth in the Americas, although no significant shift was seen in regional trends.
Strong cash generation was recorded in the third quarter of the year for FTSE-250-listed engineering data provider Aveva, according to an interim management statement issued by the group on Monday morning. The group, which didn't quantify its performance with numbers, stated that "good progress" had been seen during the period in the engineering and design systems division, underpinned by continued strength in oil and gas. In the group's power division, "steady growth" was reported while the marine division remained "depressed". The group added that Aveva Everything 3D had become commercially available and that the group was seeing "good levels of interest".
Aveva Group: Merchant Securities downgrades from hold to sell, while its target price of 1980p remains unchanged. Investec raises target price from 2200p to 2450p and still recommends to buy.
Engineering design provider Aveva Group has acquired the assets of US-based Global Majic Software for an undisclosed consideration. The acquisition brings simulation products that complement Aveva's existing visualisation technology by providing an immersive environment enabling virtual access to plant facilities. The acquired products enable life-like virtual walk-through of the digital plant enabling Plant Operators to conduct inspection planning, plant familiarisation, maintenance reviews and training while minimising the need to expose staff to hazardous on-site working. The acquisition additionally brings a small team of simulation specialists to Aveva who develop, distribute and support the Global Majic products. They will become part of Aveva's simulation development team.
Aveva: Seymour Pierce initiates with a target price of 1780p and a sell recommendation.
Aveva: Panmure Gordon reduces target price from 1948p to 1838p, hold recommendation unchanged.
Tempus in The Times says that the launch last month of Aveva Group’s Everything3D product is its most significant since the first computer-aided design software was unveiled in 1973, six years after the company was spun out of Cambridge University. Aveva is one of those British-based global leaders that most people will not have heard of, with a market capitalisation of approaching £1.4bn. Halfway figures to the end of September show growth across all three regions, with Asia Pacific the standout at 21%. It has been expanding in India, with a new office in Mumbai. The halfway dividend is raised by 13% to 4.5p. Aveva continues to carry large amounts of cash on its books, £166m at the half-year end. Mr Longdon insists that this could be needed for acquisitions, though no deal of any size has been completed since 2004. It is not a bad place to be, having surplus cash in these markets. The shares, up 14p to £20.15, sell on about 20 times’ this year’s earnings, if you strip out that cash. High, but worth it for the long term.
AVEVA which provide engineering data and designs IT systems, scored solid half year profit gains after a robust overseas performance, in particular Asia Pacific. The Cambridge based group, which makes software for designing industrial structures like oil rigs, said pre-tax profit increased to £25.8m for the six months ended September 30th 2012 from £23.8m the year before. Revenue for the period jumped 15% to £97.6m. Asia Pacific logged revenue growth of 21%, EMEA increased 13% while the Americas posted a 6% gain. AVEVA said its new China business returned to growth, following recent reorganisation, and after strong demand from Oil & Gas and Power customers. The group also said its expansion plans in India are on track, with good revenue growth in the first half. Meanwhile recurring rental contracts in North America renewed on broadly the same terms as previous periods however in Latin America its first half performance was hurt by delays in some project start-ups in Brazil. Chief Executive Richard Longdon commented: "These results highlight the breadth, quality and scale of our global business today, with multiple growth drivers across geographies and industries." "The recent launch of our new, leading-edge product, AVEVA Everything3D, highlights our ability to maintain technology leadership through continuous innovation." AVEVA has recommended an interim dividend payment of 4.5p, up from 4p the year before.
Aveva: Investec keeps buy rating and 2,200p target.
come over to the sunnier lands of GBO, SDL and the like
With two parties in government, there are twice as many opportunities for ministers to toss out hare-brained schemes to the conference faithful on how to promote growth, suggests Ian King, the Business Editor at The Times. Most never get off the ground, King believes. He suggests the Chancellor of the Exchequer, George Osborne, should widen the scope of plans for a 'patent box' to include software, a sector in which the UK is historically strong. The sector is largely excluded because it uses other forms of intellectual property to win commercial protection. King notes that Aveva, the engineering software supplier and 'an unsung hero of the sector', says that, with the grants it receives locally, it can effectively open a new office in China at no cost.
Aveva Group Sell 24-Jul-12 £207,158.25 Richard Longdon 11,627 @ 1,781.70p Aveva Group Sell 24-Jul-12 £39,910.08 James Kidd 2,240 @ 1,781.70p
AVEVA Group, the global provider of engineering data and design information technology systems, says it has seen no change in its demand environment since the end of March. The firm was keen to emphasise the performance of the Oil & Gas sector, which it said has remained particularly strong, driven by generally high levels of activity as well as the growing complexity and scale of projects worldwide. In the Power division, the market continued to show steady growth but in Marine demand remained subdued, as expected. The Engineering & Design Systems division demand from the engineering contractors is helping to drive continued growth. The firm said that whilst the majority of rental contracts renew in the second half of the fiscal year, it has seen no change in customer preference for the rental model during the period. AVEVA's recently announced new plant design platform is scheduled to ship at the end of this calendar year. Meanwhile, the Enterprise Solutions business continues to progress in line with the firm's plans, helped in part by the strength of the order backlog at the start of the current fiscal year. In a statement the firm said: "Regionally, we have seen continued strength in EMEA, whilst Latin America and North America continue to perform in line with plan. In Asia Pacific, the China business is fully operational and the other areas continue to perform well. "In May 2012, we completed the acquisition of Bocad and the integration is progressing satisfactorily. The Group continues to be cash generative and has a strong balance sheet."
CONT Our Enterprise Solutions business continues to progress in line with our plans, helped in part by the strength of the order backlog at the start of the current fiscal year. During the period we were pleased to secure a win at one of the new Brazilian shipyards to use AVEVA NET and AVEVA MARS. We have also entered into a services partnership agreement with a global IT services firm which will help put in place the necessary additional service personnel to support AVEVA NET implementations on a truly global scale. Regionally, we have seen continued strength in EMEA, whilst Latin America and North America continue to perform in line with plan. In Asia Pacific, the China business is fully operational and the other areas continue to perform well. In May 2012, we completed the acquisition of Bocad and the integration is progressing satisfactorily. The Group continues to be cash generative and has a strong balance sheet.
Interim Management Statement AVEVA Group plc ('AVEVA'; stock code: AVV), one of the world's leading providers of engineering data and design IT systems, today releases its Interim Management Statement for the period from 1 April to date. During the first quarter we have seen no change in our demand environment. The Oil & Gas sector has remained particularly strong, driven by generally high levels of activity as well as the growing complexity and scale of projects worldwide. In Power the market has continued to show steady growth and, as anticipated, demand in Marine has remained subdued, but supported by offshore Oil & Gas projects in addition to naval shipbuilding. In Engineering & Design Systems, demand from the engineering contractors is helping to drive continued growth. Whilst the majority of rental contracts renew in the second half of the fiscal year, we have seen no change in customer preference for the rental model during the period. In June we announced a major new product at the ACHEMA conference in Frankfurt, Germany. This highly differentiated new solution represents one of the most significant R&D investments in AVEVA's long history and will be the most comprehensive and efficient plant design platform available. It is scheduled to ship at the end of this calendar year and we look forward to providing more details with respect to functionality and pricing to our customers at the time of the AVEVA World Summit in October.
http://www.investegate.co.uk/Article.aspx?id=201207120700054798H