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"FY trading update: H2 profits more than offset H1". Shame that wasn't the headline in the RNS.
Allenby update has no change 38p
"FY trading update: H2 profits more than offset H1 "
https://wp-allenby-2020.s3.eu-west-2.amazonaws.com/media/2023/05/Allenby-Capital-TMT-Update-02.05.23-ENSI.L-TRAK.L-SPSY.L-TERN.L-MBT.L.pdf?c3609=on
Great Post
I make it:
H1 adjusted pre-tax loss £1.1m
FY adjusted pre-tax profit £0.3m
H2 adjusted pre-tax profit £1.4m
23/24 adjusted pre-tax profit £2.8m (also = pre-tax profit, assuming no material exceptional costs).
That's 5.6p per share. Assuming an effective tax rate of 10% due to tax losses etc, we have EPS of 5p, and a PE ratio of just over 3.
If that doesn't give scope for a major uprating - to at least Allenby's 38p target which implies a PE of around a still-lowly 8 - I don't know what does.
Trakm8
Surprised that they didn't mention Sudan
Anyway
H1 loss before tax- 2.4m
FYI profit before tax 0.3m
Therefore a h2 profit of 2.7m
Interesting how this year shapes up
£4m to 5m could be on
I wouldn't be surprised to see some PDMR purchases now, taking advantage of post-update weakness.
dc2 - cost savings were never going to feed through till 23/24 in any event. At least they've met their adjusted profit forecast of £0.3m for 22/23.
I am not a fan of the update. I was glad to hear they renegotiated the loan due date but what happened to the cost saving money and the additional cash left over from the CLN.
To be fair, Microlise also referred, in its recent update, to "cost and supply issues that might arise in the context of the current events in Ukraine".
"Trakm8 Holdings concerned about effect of Ukraine war" is, predictably, the headline on MarketWatch - i.e. the main takeaway from the update for a stock market which struggles to understand the company at the best of times.
Perhaps now would be a good moment to unload the business...
Yes, I was surprised by that (on my second reading). Also, there was no meaningful mention of the quality of the start to this year - a month in and there should something too say about the anticipated trajectory.
The update was going so well.....and then: "We continue to be concerned about the impact on costs and business sentiment due to the ongoing war in Ukraine." "Continue" to be concerned? Maybe I missed it, but I don't recall them ever expressing concern in the first place!
Unfortunately, the market may interpret this as "getting in their excuses upfront", in which case the SP may continue to tread water until the publication of final results around the end of June. In the meantime, let's see what , if anything, Allenby have to say.
Decent cash gen.
Debt stable / renegotiated
Small profit (which should be vastly improved for Y24)
Increased connections
Unquestionably, a going (growing) concern.
Can’t see why this should be priced to fail anymore, personally.
Allenby update - again, nothing much and fair price not changed (38p)
https://wp-allenby-2020.s3.eu-west-2.amazonaws.com/media/2023/04/Allenby-Capital-TMT-Update-24.04.23-MWE.L-TRAK.L-TERN.L-CLCO.L.pdf?c3592=on
As we're probably only days away from an important update, which is likely to be very positive (for a change!), I'd be surprised if it drifted down much further. It's 18.66p to buy 20k at the moment.
Although, I suspect an update is coming this week.
Probably Weds/Thurs.
DYOR
I'm not in buying mode - I'm already overweight in Trak. I did my last buy at 14p I think.
Should definitely pick up - assuming all is confirmed.
It’s still priced to fail and the news stream suggests anything but - hence my (over) optimism after the last RNS.
We also need volume, so we’ll just have to see.
But I’m feeling more positive here than I have for a while.
So did you buy or just look?
Could be the greatest comeback ever?
They're not giving quotes for 50,000, but it's 19.96p for 30,000.
Can you get a quote for 50000 shares?
"Nice trade to end the day so you now have to pay over 20p"
You still have to pay a smidgen under 20p. It's unlikely to move much until the next big update, which could even be next week (last year it was on 26 April).
Nice trade to end the day so you now have to pay over 20p
So two points from me
The price is rising on minimal volume
(Wait until some buyers turn up)
The brokers will now be updating the fyf and 24/25
Sorry last point the contract seems to be mostly data software driven so likely to be good for gross profit margin and will drop nicely to the bottom line
Next stop 25p
35p is a breakdown point when I look at the chart history
KBYK - today is just the beginning - there’s much more to come hopefully over the next few months. I’ll be happy if the mid-price holds today above 20p.