Small Cap Comment: Eneraqua Technologies And Braemar

Mark Watson-Mitchell starts the week’s Small Cap Comment, looking at Eneraqua Technologies after its Interims, and wondering is now the time to buy some cheap stock in Braemar.

Eneraqua Technologies (LON:ETP) – Brokers go for 67p/80p as Price Objectives, shares now 39p

The interim results announced last Thursday by this provider of specialist energy and water efficiency solutions, were much as expected.

They reflected the impact of the earlier-than-expected UK General Election together with the project mix in the period, for the six months to end-July, and the increased overheads needed to support the level of revenue for the year.

They showed an adjusted first-half pre-tax loss of £3.8m (£0.4m loss), however, the group’s Order Book across Energy and Water stood at £114m (H1 FY24: £118m and FY24 £102m) of which, taking a prudent view, over 40% is now expected to be delivered in H2 FY25.