Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
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Today's report on climate change from the Intergovernmental Panel on Climate Change’s (IPCC) Working Group is the lead item on the news everywhere.
INSE have just posted a follow-up item as to their clients' needs and expectations for net zero, including these extracts:
Https://inspiredenergy.co.uk/temperature-check-on-uk-businesses-approach-to-net-zero/
"At Inspired Energy, although we are seeing momentum in public net zero pledges from UK businesses, our sponsored research ‘Net-Zero Business Barometer’, published by edie, revealed that of the 161 respondents, just under half – 45% – claimed their organisation is yet to set a net zero target, with the remaining 3% unsure if one has been set.
We also found there was a very low-level of understanding surrounding Scope 3 emissions and the role they play in an organisation’s carbon footprint (typically they make up around 80%+), as less than a quarter of the respondents asserted to be working with their value chain to tackle their Scope 3 emissions. We’ve no doubt that the concept of Scope 3 will gain traction with the introduction of the Task Force on Climate-Related Financial Disclosures (TCFD) obligations coming down the line.
However, it was very encouraging to see a large number of respondents now have budgets allocated to decarbonisation, with a quarter of respondents controlling a budget of £500k+. Interestingly, about half of respondents hadn’t set a net zero target even though they had a budget for decarbonisation. Inspired Energy has seen an uptick in interest in funded options, so where there is a desire to do more but there is a lack of budget available, we can discuss your funding options for low or zero carbon technology projects.
From this piece, Inspired Energy’s Director: Optimisation Services, Ben Rouncefield-Swales commented “This research gives some real insight into the current net zero landscape amongst UK businesses. The data is encouraging, with some genuine reasons to celebrate – given the increasing awareness and growing action – but there is certainly a lot more work to do.
When developing a net zero strategy, businesses who want to drive real change will need to think carefully about target-setting – and we would strongly encourage that you use a Science Based Target (SBT) – a target that is aligned with the goals of the Paris Agreement. A net zero strategy that follows an SBT is the best way to demonstrate that your organisation is contributing to global emissions reductions in a robust way.
With our Carbon Action Programme, you can access specialist support at every step of your decarbonisation journey. Our team will work with you to create a bespoke decarbonisation strategy for your business and provide you with business cases for all of the options you will need to meet your target. To discuss what net zero means for your business and where to begin, contact us today on 01772 689 250 or email hello@inspiredenergy.co.uk."
News that Star Pubs & Bars yesterday partnered with INSE to reduce energy bills by 10% for all their licensees:
Https://www.morningadvertiser.co.uk/Article/2021/08/03/Star-negotiates-supplier-deals-for-licensees
"Star Pubs & Bars negotiates supplier deals to help licensees in wake of Covid-19 pandemic
03-Aug-2021 By Michelle Perrett
Star Pubs & Bars has revealed that it has negotiated new supplier savings for its licensees as they focus on cost-cutting in the wake of the Covid-19 pandemic."
And it looks like a strong NED appointment today, with a confident closing commentary:
Https://www.investegate.co.uk/inspired-plc--inse-/rns/appointment-of-non-executive-director/202108040700044737H/
"The Board looks forward to benefitting from Dianne's knowledge and expertise as we work towards another year of significant growth and development."
Looks like a strong NED appointment today, with a confident closing commentary:
Https://www.investegate.co.uk/inspired-plc--inse-/rns/appointment-of-non-executive-director/202108040700044737H/
"The Board looks forward to benefitting from Dianne's knowledge and expertise as we work towards another year of significant growth and development."
Great new coverage in this article:
https://www. proactiveinvestors.co.uk/companies/news/955455/inspired-underrated-and-under-appreciated-reckons-broker-955455.html
"Inspired underrated and under-appreciated reckons broker
The business is now structured into three divisions: Energy Solutions; Software and ESG
Inspired PLC -
Inspired PLC’s (LON:INSE) pace of evolution and growth is being underestimated by the market, according to Peel Hunt, which rates the group as a buy with a 25p target.
The energy consultant is yet to be credited with the sale of its SME operation, adds the broker, especially the earnings and cash benefit while that disposal has cleared the way for the remaining business to deliver sustained growth.
Helped by well-timed acquisitions, the “digitally-led, scalable platform is fully capable of delivering double-digit organic EBITDA growth and attractive cash flows,” said Peel Hunt.
Opportunities for further M&A in fragmented markets add to the investment case, argues the broker.
The business is now structured into three divisions: Energy Solutions; Software and ESG, all of which are characterised by long-term structural growth drivers says the broker.
Energy Solutions, the largest area of operation with 95% of profits, helps corporates better manage energy costs and reduce their carbon footprint.
Software provides digital solutions to support internal and external customers while ESG specialises in end-to-end solutions for businesses and is set to be a material contributor to profits as this market booms.
“Although the shares have recovered to pre-pandemic levels, they remain below the peak levels seen in 2017 (24p)," said Peel Hunt, the company's house broker.
“We believe that the strategic and operational progress since that period justifies a near-term share price target of 25p.
Our 25p target price equates to 16 times 20203 forecast earnings or a 6% FCF (free cash flow) yield.
“We believe this is fully supported by the visibility inherent in the business.
“Moreover, this target price is supported by our DCF model above. Clearly, any further M&A would lead us to review the target price.”
Here's the rest of the tip from the IC today:
Https://www.investorschronicle.co.uk/news/2021/07/15/shares-i-love-inspired/
"Shares I love: Inspired
Ken Wotton tells Leonora Walters why he thinks that Inspired’s revenues and share price have the potential to rebound
July 15, 2021"
“The company [helps] clients, generally large corporates, to procure energy cost-effectively, audit and report their usage of it, and optimise energy efficiency. The increasing complexity of corporate energy requirements and increasing regulatory and sustainability imperatives will support continued strong organic growth for the company with a likely flight to quality leading to further increases in its market share. Inspired’s business model is strong with high quality of earnings from long-term contracts, high margins and return on capital, and good cash conversion.
“Strategic Equity Capital’s initial investment in Inspired was made last year as part of a placing to strengthen the company’s balance sheet and provide [it with the] firepower to undertake a number of bolt-on acquisitions to consolidate its position in the market. We believe that these deals will be attractive financially and strategically.
“But [some of our other funds first] invested in Inspired when it listed in 2011, initially taking a 9.4 per cent stake. [And we had] worked with its management team on areas such as board composition and management incentives prior to the initial public offering. Since 2011, we have regularly engaged with the management team on various projects, most notably business strategy, raising capital for expansion and board composition and planning.
“Although Inspired’s revenues are depressed due to lower corporate energy usage in 2020, there is significant opportunity for a rebound in its revenues and share price when there is a return to a more normalised environment. The company remains well-capitalised and positioned to drive growth and execute further M&As once market conditions normalise.
“Inspired also has strong environmental, social and governance (ESG) credentials. It has a strong focus on sustainability, and [offers] services that help clients measure, report and improve their ESG performance.”
As of 31 March, Gresham House funds in aggregate held 19.8 per cent of Inspired’s shares.
Inspired has recently changed its name from Inspired Energy to reflect the structure into which it has evolved. This comprises three divisions.
Inspired Energy delivers energy, water, and sustainability assurance and optimisation services, so businesses can manage their costs better, reduce their carbon efficiently and meet net-zero targets. Inspired ESG specialises in solutions that enable investors and businesses to make effective ESG disclosures. And Inspired Software delivers technology and software that underpin services provided by Inspired."
INSE have been tipped tonight in the IC by Ken Wotton (the senior fund manager at Gresham House).....
Anyone got the full article?
Https://www.investorschronicle.co.uk/news/2021/07/15/shares-i-love-inspired/
"Shares I love: Inspired
Ken Wotton tells Leonora Walters why he thinks that Inspired’s revenues and share price have the potential to rebound
July 15, 2021
Increasing complexity of corporate energy requirements, and regulatory and sustainability imperatives could help Inspired to grow organically
It is also in a position to make acquisitions
The company's revenues and share price could rebound in a more normal environment
Ken Wotton, manager of funds including LF Gresham House UK Micro Cap (GB00BV9FYS80) and Strategic Equity Capital (SEC), explains why he invests in energy services and procurement specialist Inspired (INSE).
“Inspired is the leading player in the growing but fragmented corporate energy services market, and has significant opportunity to gain market share through client wins, proposition extension, and mergers and acquisitions (M&A)......"
INSE co-presented with BAT in a summit showing how companies can best adapt to and adopt climate risk reporting, following the the Task Force on Climate-related Financial Disclosures (TCFD) recommendations.
Lots of revenue potential here for INSE too:
Https://www.edie.net/news/9/Five-top-tips-for-adopting-TCFD-aligned-climate-risk-reporting-for-your-organisation/
Extract:
"As Inspired Energy’s chief executive Mark Dickinson explained during the session, TCFD-aligned disclosure is soon to be mandated in the UK and in other G7 nations. While some leading organisations have already started disclosing voluntarily, he explained, many are now looking for practical advice purely for compliance.
He outlined how the mandate in the UK, which will come into effect in either April 2022 or 2023 subject to consultation, will apply to all premium listed companies; all AIM-listed companies with 500 or more employees; and all private companies and LLPs with more than £500m in turnover and/or more than 500 employees."
Massive potential for INSE from the government-led requirement for energy performance certificates (EPC) in coming years:
Https://www.thetimes.co.uk/article/energy-efficiency-bill-saps-british-land-and-land-securities-6l8w9szpw
"By 2030, the government wants all rented commercial properties to have an energy performance certificate (EPC) of B or above, a proposal that Jefferies expects “to become law”. However, only about a quarter of British Land’s and Land Securities’ portfolios reach that rating at present. Jefferies estimates they will be saddled with a bill of between £700 million and £800 million to sort out their buildings."
Here's INSE's take on how they can help:
Https://inspiredenergy.co.uk/compliance/energy-certificates/
Very consistent stake building this week. Another 750,000 buy yesterday afternoon. The share price completely static. As Ken Wotton (Gresham Huse) says' the market hasn't quite woken up to this yet,' but definitely one eye open. A case of follow the money!
Good to see an NED buying her maiden stake in INSE - and a decent chunk too at £25,000's worth at 19.5p:
Https://www.investegate.co.uk/inspired-energy-plc--inse-/rns/director-dealing/202107061002263125E/
All my research indicates a very well run business in a growing sector. Might not be exciting for some but I'm very happy with my investment.
Brief analyst comment here:
Https://www.proactiveinvestors.co.uk/companies/news/953714/inspired-energy-says-it-is-trading-in-line-with-market-expectations-953714.html
"House broker Shore Capital said: "With recovery out of the pandemic gaining momentum, Inspired is poised to benefit, in our view, delivering essential services in energy assurance and optimisation as well as through its emerging ESG based compliance platforms."
Very solid AGM statement, with the business trading nicely in line with expectations, including the new acquisitions, and:
Https://uk.advfn.com/stock-market/london/inspired-energy-INSE/share-news/Inspired-Energy-PLC-AGM-Statement-and-Notice-of-Re/85475361
"The underlying market dynamics continue to provide growth opportunities within Energy Optimisation Services and the Board is encouraged by the increasing traction in demand for Inspired ESG and Inspired Software."
INSE have jointly produced a new guide for businesses looking to align their reporting with the recommendations of the Taskforce on Climate-related Financial Disclosures (TCFD):
Https://www.edie.net/news/7/edie-launches-new-business-guide-on-the-Taskforce-on-Climate-related-Financial-Disclosures-recommendations-/
"What are the TCFD recommendations? Why does climate disclosure matter? How do you access the financial impacts of climate change? And, what is scenario analysis? This free edie Explains guide gives you everything you need to know.
-----CLICK HERE TO DOWNLOAD THE GUIDE----
The Financial Stability Board’s (FSB) Taskforce on Climate-related Financial Disclosures (TCFD) is a market-driven initiative that provides a suite of recommendations for voluntary and consistent climate-related financial risk disclosures in mainstream company filings.
However, the Taskforce and the TCFD movement are still in their infancies and as such corporate adoption of the recommendations is still relatively low. This 10-page guide outlines all the key questions and considerations that businesses need to improve climate-related data disclosure in line with the TCFD recommendations.
With the TCFD recommendations now backed by more than 500 companies globally and the G7 confirming that climate-related disclosure will be mandatory at some point in the future, now is the perfect time for businesses to examine their own practices in alignment with the recommendations.
The guide has been produced with assistance from supporting partners Inspired Energy plc and features an expert viewpoint from the company's director of client management (ESG) Rosemary De Vos on why now is the time to get ahead on disclosure.
“While transparency on the risks is what is being sought here, investors are becoming increasingly aware of companies who are working on TCFD compliance today and those who are not,” De Vos said in the viewpoint. “This alone should be a signal for CSR, ESG and sustainability professionals across the private sector to recognise the need to deliver on TCFD disclosure in their own companies before April 2022 arrives.”
That's roughly 19m shares traded in late/after hours trades yesterday and early trades today...and a nice move up afterwards, with buying now coming in at almost the full 20p offer.
Narrowed even more to 0.3. There must be alot of confidence of moving stock on from MMs. Could be sat on a big order may have to lift it more now to fulfill their order. Spread not been this low for a year.
We must be featuring in days biggest risers which will attract retail buyers
Moving up once more, and buyers paying the full 19.5p offer price now.
Spread dropped from 1.5 to 0.5. Market makers seems confident in taking buying up shares they can sell on. Looking good. Must be good buyers there. This might pop
Up this morning another 0.3p on no trades at all so far today. There may be a large buy not yet reported, but it seems clear there continues to be background demand for the shares and equally there's not much stock around to satisfy it.
A very positive intra-day turnaround from red to blue. Buyers are now paying the full 19p offer - and there's been one 25,000 share buy at 19.61p.....
You may well be right I've counter 4 big tipsters in last 12 months recommending this stock
1. As you say
2. Times
3. Share mag
4. One other I cant remember
These are all credible tipsters
Moving up seemingly on every buy trade.
Licker, those buying may well be:
(1) those who as per the Gresham Trust fund manager in the article I posted below believe as regards INSE:
"the market hasn't really woken up yet to the double whammy of structural growth and also earnings recovery"
(2) plus green investors are waking up to INSE's ESG credentials and key role in enabling every UK company's sustainability targets and net zero ambition to be achieved and government regulations followed.
Investor inflows to uk small cap funds is high so they will have to buying into the index followed by smaller retail buyers who see price movement?
Encouraging too that sellers just now are getting almost the 18p mid-price. There's evidently demand for the shares out there.
As Joe Jackson once sang......something going on around here......