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Whilst the Financial Systems Division continues to perform satisfactorily, as advised in the interim results, the Board's expectations at that time for the Microgen Aptitude Solutions Division were dependent upon a number of sales opportunities closing in the second half of the year. Opportunities continue to progress although, due to the market environment, particularly within the financial services sector, a number of these have advanced more slowly than anticipated. As a result, the Group's revenue in the second six months of 2012 is now expected to be approximately 10% lower than the first six months of the year. However, due to the Group's conservative operational approach, earnings for the second half of 2012 are expected to be maintained at a level consistent with the first half of the year.
INTERIM MANAGEMENT STATEMENT Microgen plc ('Microgen' or 'the Group') provides its Interim Management Statement covering the period from 1 July 2012 to the date of this announcement. Microgen released its interim results for the six months ending 30 June 2012 on 23 July 2012. There have been no significant changes since 1 July 2012 in the financial position of Microgen and its balance sheet remains strong. Following payment of the interim dividend of £0.9 million in August, the Group had net cash at 31 October 2012 of £26.3 million (30 June 2012 : £27.1 million).
Westhouse Securities reiterates strong buy on Microgen, target price unchanged at 200p.
Prospects The selection of Microgen Aptitude and Microgen Accounting Hub as the preferred vendor solution in a number of sales opportunities demonstrates the market leading capability of Microgen's technology. New business sales cycles have, however, been extended due to the effects of the macro-economic environment, particularly within the financial services sector to which Microgen has a material exposure. Whilst the Board's expectations for 2012 are dependent upon a number of sales opportunities closing in the second half of the year the Group's strong balance sheet, high level of recurring revenue and conservative operational approach provides resilience against the full effects of the market conditions.
Microgen, the software and services provider to the global financial services, digital media and commercial sectors, reports unaudited results for the six months ended 30 June 2012. Highlights · The Board is pleased to report a very satisfactory performance in difficult market conditions with results in line with first half market expectations. Current economic climate is impacting consultancy deployment and extending new business sales cycles · Revenue of £17.0 million (H1, 2011: £19.0 million) with underlying growth in higher margin recurring revenue · Operating profit of £4.4 million (H1, 2011: £4.5 million) demonstrates resilience of the Group's business model · Microgen Aptitude Version 4 launched including 3D Navigator · Basic EPS 4.2 pence (H1, 2011: 4.2 pence) · Strong balance sheet with net funds at 30 June 2012 of £27.1 million (H1, 2011: £25.2 million) after returning £6.8 million of cash to shareholders in the last twelve months · Interim dividend of 1.1 pence per share (2011: 1.1 pence per share)
http://www.investegate.co.uk/Article.aspx?id=201207230700042052I
INTERIM MANAGEMENT STATEMENT Ahead of the Company's Annual General Meeting later today, Microgen plc ('Microgen' or 'the Group') provides its Interim Management Statement covering the period from 1 January 2012 to the date of this announcement. Microgen released its final results for year ending 31 December 2011 on 27 February 2012. There have been no significant changes since 1 January 2012 in the trading or financial position of Microgen and its balance sheet remains strong. The Group had cash at 31 March 2012 of £29.4 million (31 December 2011 : £27.0 million) prior to the proposed dividend payment in May of £1.8 million. In addition to the existing relationship with Teradata, the Microgen Aptitude Solutions Division announced a partnership with NRI in Japan and is currently exploring other partnerships targeting new market opportunities. The Board anticipates reporting operating profit in line with market expectations for the six months ending 30 June 2012, but remains cautious given on-going market uncertainty as noted at the time of the final results. The Group's significant recurring revenue base and predominantly annual licensing model does, however, continue to provide resilience against the full effects of the macro-economic environment.
http://www.investegate.co.uk/Article.aspx?id=201204240700168827B
Financial software supplier Microgen is given the once over. Tempus says that, despite trading at 18 times earnings, a bid is possible.
Arbuthnot upgrades Microgen from buy to strong buy, target price unchanged at 200p.
Microgen shows enterprise growth Date: Thursday 24 Feb 2011 LONDON (ShareCast) - Software provider Microgen produced strong figures thanks to the growth of its enterprise software business. Revenue from continuing operations rose 16% to £33.7m in 2010 but all of the growth came from the Microgen Aptitude Solutions division. The core customer base is in the financial, media and commercial sectors. A number of projects are continuing in 2011. The financial systems software division’s revenue fell but it remains the main profit contributor. This part of the group supplies a mature market and there are fewer opportunities for growth. Recurring revenues account for 86% of total revenues for the division and operating margins are 48% - three times those of the Microgen Aptitude business. Underlying pre-tax profit increased from £5.91m to £8.11m. The comparative figure does not include the billing services business that was sold in November 2009. The final divided was bumped up from 1.5p a share to 2.1p a share, making a total of 3p a share for the year. There was a 4p a share special dividend in 2009. The business is strongly cash generative. Net cash was £23.4m at the end of December 2010.
I have been in this share for over a year now, and it's always been rock solid, when markets are up or down it barely budged. But this moves on news, and with a 66% increse in revenue 25m in the bank a 12.5% incresed divi plus a Proposed tender offer to return up to £10 million to shareholders, more than likely through a one off divi like last year which would be over 10% retun excluding the interim divi, this can only go one way and that up! Whoever bought the huge delayed buys, must think the same! Oh and my first ever strong buy recomendation!
RNS Number : 7258P Microgen PLC 22 July 2010 ? 22 July 2010 MICROGEN plc ('Microgen') Interim Results for the six months ended 30 June 2010 Microgen plc reports results for the six months ended 30 June 2010 showing excellent growth in revenue and profitability. Highlights · Adjusted operating profit from continuing operations increased by over 50% to £3.8 million (H1, 2009 : £2.5 million). · Revenue from continuing operations of £16.1 million (H1, 2009 : £13.6 million) representing 19% growth overall with revenue growth of 66% from the Microgen Aptitude Solutions Division. · Adjusted Basic EPS (excluding intangible amortisation and exceptional items) increased to 3.3p (H1, 2009 : 2.2p). · Strong balance sheet with cash at 30 June 2010 of £25.0 million. · Proposed tender offer to return up to £10 million to shareholders. · Interim dividend increased by 12.5% to 0.9 pence per share (2009 : 0.8 pence per share). This is the fourth consecutive increase in the interim dividend representing an increase of 80% since 2006. Statutory results · Operating profit increased by over 80% to £3.7 million (H1, 2009 : £2.0 million). · Basic EPS of 3.1p (H1, 2009 : 2.3p).
Blow the dust off here ...... Perhaps even a little ramp, except I can't be bothered.