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A 5k buy gone in on Nex not long ago at 5.35p with a few more earlier - bounced straight back, was NT to buy throughout the dip, with the mm’s just scamming some free shares. Right, switching off for now. GL and hold strong, dont know what the sellers were reading this morning but that was a fantastic rns given where we were this time last year.
Group revenue in the period was impacted by certain projects and contracts coming to an end and a general level of churn in the business, in particular with respect to our cloud and networks divisions. In order to address this going forward, we continue to enhance our cloud platform and offering and are developing a joint value proposition with Equinix, Inc. a multi-national data centre and co-location provider. Furthermore, we continue to close down legacy networks in order to improve service and profitability.
In summary, the first half of the year has shown a significant turnaround from the upheaval of the previous year. We have been successful in renewing significant customer contracts and in progressing new relationships. We continue to explore further areas where costs can be saved whilst investing in areas that will help drive growth. We are confident in the outlook for the Group and remain ambitious in securing and improving margins and cash generation.
Towards the end of 2018, several of the Group's material customers renewed their contracts with IDE, some on a multi-year basis and I am pleased to say that during the period under review, the Group secured several other significant renewals including a 3 year contract for cloud and hosting services with a total contract value of over £1 million.
The restructuring last year meant that we entered this year with an appropriate cost base and the refinancing in the first quarter has given us a stable platform from which to grow. To that end, in May this year we recruited a new Head of Sales to drive sales growth. Already our level of engagement with our key customers, including a large international outsourcer, has immeasurably improved. In addition, we are being awarded extensions to other contracts and have commenced new projects which we expect to grow over the coming months.
Furthermore, we were very pleased to enter into a new partnership with another global IT services company during the period, and the first project under this new partnership commenced post-period end in August. We believe there is significant potential for growth with this partner and look forward to updating shareholders in this respect.
Again ~ MM`s just messing about with the bid . There are but a very few shares floating around amongst PI`s so it`s going to get quite interesting should the Company release a positive statement creating a demand for their shares . Perhaps MM`s anticipate this and are just trying to pick up a bit of stock in anticipation of demand . I hope so ~ but who knows .
Mm’s taken the bid down on literally nothing today chasing sellers, fear and impatience are key driving forces behind sells and were being tested on both fronts by the mm’s and the company on newsflow which is expected any day now.
Its likely 1 or 2 buys would lift the SP however with the large spread mm’s are searching for sells, dont give these away cheaply as on very little news this will fly. Stay patient and earn your rewards. GL
RNS, stated that ide have started to recover previously lost shareholder value. 4/5 trading days to see what that value is. And they are talking about the main shareholders that bought in at a price a lot higher than where we are today!
25p will arrive, how long its going to take im not sure but it will arrive. Were not dealing with mickey mouse contracts here, material customers have signed multi million pound contracts over multiple years - and with the current pipeline of opportunities being the strongest in the companies history imagine what we’re dealing with.
These things take time and last year contracts were signed up towards the end of the year Q4 (which we approach in a weeks time) so let the board do what they have to and sit back and wait. In a few months time others will look back and wish they’d bought more at 6p levels.
***Towards the end of the year, several of the Group's material customers renewed their contracts with IDE, some on a multi-year basis, and at the time of writing, the pipeline of opportunities across the business both with existing and new customers and partners is the strongest it has been since my involvement.***
Gafferk upside of the SP can be anywhere, contracts, newsflow and buying will determine this.
Flip it over and think worst case. So we’re fully funded until mid next year, we have material customers who renewed on multi year basis end of 2018 which brings in a turn over of 40+m a year, massive cost reductions recently (7.5m in staff restructure and 3m via a contract costing us money).
5p was the absolute bottom with 6p looking ever more likely to take its place. Little buying (as seen on i think Monday) will have this rocket 100% in an hour due to small free float, and with very little down side from here its a case of adding and holding at these prices and waiting for the rns that catches traders out.
Dont forget the goal for mxcp (our major sh’s) is to flog this company eventually, with their shares at around 25p you can be certain they’l want more than that.
So in a nutshell, not much downside - plenty of upside. Strong buy and hold.
Hi, where do people think the SP will be in a few months? I am hoping for around 18p, but little concerned it has dropped back from its recent highs. I would have thought it would be back to near 10p by now. I have been picking up cheap shares on some of the lows and have an average 4p, so happy at the moment.