Pound to be Driven by External Developments if -2-

0951 GMT - Amigo Holdings' decision to wind down the business won't come as a surprise given frequent market updates in recent months highlighting the challenges of meeting its GBP45 million equity-raise requirement, Goodbody says. Although the guarantor-loan provider made significant efforts to transform the business from an operational perspective in recent times, raising a material sum of fresh equity for what was essentially a business relaunch was always likely to be a serious challenge despite the need for responsible, well-regulated lenders in the market, Goodbody analyst Ronan Dunphy says in a research note. Amigo's lack of success also highlights challenges faced by Non-Standard Finance as it embarks on its own scheme of arrangement and proposed GBP95 million equity raise, the Irish brokerage says. Shares are down 77% at 0.4 pence. ([e-mail])

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Portmeirion's Sales Strategy Not Reflected in Share Price

0946 GMT - Portmeirion Group delivered record 2022 sales and is focusing on improving profitability further in 2023, Shore Capital analyst Robert Sanders says ina note. The pottery company's strategy of increasing sales, both by brand and by geography, coupled with a target of achieving a 10% earnings before interest and taxes margin, building to 12.5%, isn't presently reflected in the current share price, Sanders says. "We initiate coverage of PMP with a fair value of 700 pence, which is backed up by a reverse discounted cashflow analysis and note the supportive 2023 estimate of around 5% dividend yield," he says. Shore Capital has Portmeirion as a house stock. Shares are up 5% at 370 pence. ([e-mail])

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Playtech Shares Look Attractive Due to Strong Growth

0933 GMT - Playtech delivered positive results for 2022, with revenue up 33%--slightly ahead of Goodbody forecasts--analyst David Brohan says. The U.K.-listed gambling-software company continues to make progress in the U.S., with its key Caliente and Snaitech divisions driving a strong start to 2023, he says. While Goodbody leaves its forecasts unchanged, potential upside remains for earnings, and the company's balance sheet also remains comfortable, Brohan adds. Given Playtech's strong growth and opportunities in the U.S., its share price looks attractive, he says. Goodbody reiterates a buy recommendation on the stock. Shares up 0.6% at 552.50 pence. ([e-mail])

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(END) Dow Jones Newswires

03-23-23 0652ET