Energy News Today

Ocado Group PLC is the highlight in a quiet week

Earnings remain subdued on both side of the pond this week, with the US week shortened by the Independence Day holiday today.

The week ahead

In the UK, we expect to see June period end trading updates begin to emerge. We anticipate interim results from (LON: OCDO) and final results from PLC (LON: IKA) and Adept Technology Group PLC (LON: ADT).  Also, this morning Panoply Holdings PLC (LON: TPX) has reported finals while (LON: DEV) has reported interims.

Ocado, the online grocery platform and solutions provider, announces interim results tomorrow. From a technology standpoint, the focus will be on how the solutions revenue and pipeline are evolving and how the Ocado Smart Platform is developing. In April, the group announced it had invested £10mln in and commercially partnered with Oxford-based Oxbotica to develop a range of autonomous vehicles that will be integrated into the Ocado Smart Platform. The use cases range from vehicles that operate inside of Ocado’s customer fulfilment centre buildings and the yard areas that surround them, all the way to last-mile deliveries and kerb-to-kitchen robots. In addition, the company completed the acquisition of two robotics businesses – Kindred Systems and Haddington Dynamics – early in the period.

Ilika, which develops solid-state battery technology, reports final results tomorrow. In its trading update last month, it said that trading for the year ended in April was in line with management expectations. The company expects to announce revenues of approximately £2.3mln (2020: £2.8mln), with an adjusted EBITDA loss of £2.3mln (2020: £2.1mln) while cash and cash equivalents at the period end were £9.8mln (30 April 2019: £14.8mln).

AdEPT, the managed service provider, reports final results on Wednesday. In its trading update in April, the company said it expects to report revenue and underlying earnings (EBITDA) for the year ending March 2021 in line with market forecasts. The group closed the period with senior net debt also in line with market expectations at £26.1mln. This includes the repayment of the deferred first-quarter (Q1) VAT liability in early Q4 and the cash costs of the new bank facility arrangement fees. In April, the company announced the acquisition of Datrix, a London-based supplier of advanced cloud-based networking, communications and cybersecurity solutions, for an initial cash consideration of £9.0mln, which was funded through the group’s new bank facility. The group is acting as a consolidator in the highly fragmented market, focusing on sub-scale operators that would benefit from being part of a larger organisation, benefiting from the group’s scale, breadth of capability and infrastructure for growth.

Meanwhile, in the US, corporate earnings remain subdued until the new earnings season takes hold in two weeks’ time. Among the few tech-related companies reporting include Smart Global Holdings and Duck Creek Technologies.

DateCompanyEventPeriod ending
05-JulPanoplyFinal results31-Mar
05-JulDev CleverInterim results30-Apr
06-JulOcadoInterim results31-May
06-JulIlikaFinal results30-Apr
07-JulAdEPT TechnologyFinal results31-Mar
Early JulyQuartixTrading update30-Jun
13-JulFinal results31-Mar
13-JulSolid StateFinal results31-Mar
14-JulKromekFinal results30-Apr
15-JulRedcentricFinal results31-Mar
Approx 22/7IdeagenFinal results30-Apr
28-JulFDMInterim results30-Jun
29-JulSRT MarineFinal results31-Mar
JulyAccess IntelligenceInterim results31-May
JulyShearwaterFinal results31-Mar
July H2OTAQFinal results31-Mar
July 3rd week PCI-PALTrading update 
Late summerGRCFinal results31-Mar
03-AugInterim results31-May
03-AugFiltronicFinal results31-May
03-AugTrading update30-Jun
05-AugSpirentInterim results30-Jun
11-AugAvastInterim results30-Jun
AugKeywordsTrading update 
09-SepComputacenterInterim results30-Jun
SeptKeywordsInterim results30-Jun
SeptTrading update 
SeptBlanccoFinal results30-Jun
SeptCranewareFinal results30-Jun
Late SeptTransenseFinal results30-Jun

Source: Data from regulatory news and company websites

 

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2021-07-05 03:22:00

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