Abbeycrest (LON:ACR) (ACR, 6.0p, £4.41m) Following the breach of its profit covenants with its senior lenders, Burdale Financial, the group has re-set and extended the banking covenants to a £8.0m facility until 21 February 2012.  The latter will provide the group with headroom and encourages us to move our recommendation to a HOLD.

DDD Group Plc (LON:DDD) Group (DDD, 15.25p, £20.08m) has collaborated with AMD to combined DDD's comprehensive TriDef® stereoscopic 3D software with AMD's next generation AMD Radeon™ HD 6000 family of graphics processors. AMD seeks to supply DDD's TriDef software under license to PC original equipment manufacturers and add-in-board manufacturers as part of AMD's integrated 3D solution. DDD will also offer discounted software downloads to customers that purchase either an AMD Radeon™ HD 5000 family or an AMD Radeon™ HD 6000 family graphics card and wish to upgrade to stereo 3D. The collaboration helps accelerate the adoption of high-quality 3D solutions by OEMs and end user. We reiterate our SPECULATIVE BUY recommendation.

Dods Group (LON:DODS) (DODS, 10p, £15.22m) has reported a deeper impact from the UK Government’s Spending Review on civil service training with an immediate effect. The impact will result in numbers below expectations for this year. Shares are a HOLD.

Staffline Group (STAF, 151.0p, £33.95m) The continuation of the strong trading conditions will result in FY expectations significantly exceeding recently upgraded current market forecasts of PBT of £6.7m and EPS of 21.2p. We expect the market to upgrade both FY 2010 and 2011 estimates. Assuming at least 24.4p of earnings in 2010, the stock trades on a prospective PER of 6.2x with a yield of 3.6%. We are extremely pleased by the group’s progress. We reiterate our BUY recommendation and increase our target price to 207p.

Unlock the rest of this article with a 14 day trial

Unlock with Email
Unlock with Google

Already have an account?
Login here