Craneware Share Price (CRW)

Well as some suggested on this message board last September the sp then was undervaluing this company. I cannot see any reason to doubt future success, but i am often wrong !

Good morning. Does anyone have a view here? Looks like a good trading update to me. And good that they've gone from net debt to net cash (I think) and good that they've extended the buyback

Yep was an easy swing trade. The only thing I can't explain is the £51m of funds held on behalf of customers & why this has been included in balance sheet cash rather than restricted cash? The inflow came in FY23 but unhelpfully there is no commentary as to what is it!

Nothing but the expected positive news/results . The recent dip in the sp remains a mystery, as ShearClass was implying 10 days ago.

Half year trading update 19/01/23;

"The same market factors, combined with our normal seasonality, have resulted in cash reserves of $38.6m (H1 FY22: $41.7m), and total Bank Debt of $107.9m (H1 FY22: $114.6m)."

Full year trading update;

"As at 30 June 2023, the Group maintained strong operating cash balances of $46.9m (30 June 2022: $47.2m) and total bank debt of $83m (30 June 2022: $111.6m). This further reduction in the overall levels of bank debt is in response to the current interest rate environment and results in a Net Debt/EBITDA ratio of 0.67x (FY22: 1.24x). "

That's a very impressive reduction in total bank debt, whilst maintaining their cash reserves. Look forward to the results on 5th September to see more detail on the numbers - however the ~15% drop since the day of the trading update is a nonsense & surely a buying opportunity?