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Bounce coming
1.65 - 1.95
Now that we've had a good detailed update, this BB and its posters should hopefully calm down a bit now and stop with the 'this is going to fly' types of posts. 7Digital growth is progressing nicely but it's going to take a while to show the full benefit of everything the new BoD have done over the last few months. This is definitely a long term hold.
Glad you found it useful Ts182. I will be holding for the next 12 months and buying on any dips.
As Warren Buffet once quoted, ""The stock market is a device for transferring money from the impatient to the patient"
Again another key thing for me here is that we have turned the corner during a global pandemic. We are running better and more profitable. Most company’s are losing 40% of profits if not more in the pandemic and 7dig has moved forward. Some nice smart contracts hopefully with healthy sums ... very strong buy in my opinion
@Accountant
Very nice summary capturing the key points...
If one good thing comes from this ****ty year let this be it!
The key highlights for me are:
- Administrative expenses reduced by 51% to £3.1m
- Operating loss reduced by 73% to £0.9m
- Cash and cash equivalents of £4.3m at 28 September 2020
- Contract renewals with several clients
- On track to reach operational profitability in H2 2020
"The Group is well capitalised, has financially supportive majority shareholders and a best-in-breed technology platform to capitalise on powerful market trends. As a result, 7digital is on track to achieve operational profitability in the second half of 2020 for the first time and deliver value for our shareholders."
Global company is still unknown
Probably won’t find out the name until FEB if it continues business and we get further business and extend a new contract ..
In the Interim results the Global tech company and Apex rides are mentioned in 2 separate bullet points so I'm guessing not?
I thought the global company was apex rides ?
Very happy with the reduction in admin expenses, that was certainly one of my concerns and it's a pretty significant reduction too.
Worth reminding ourselves that results were up to 30 June but all the new major contracts: Triller, Global tech company, apex rides etc were all signed Aug/Sep. With this in mind, the reduction in expenses and further potential contracts I see profitability in H2.
After the placing I was adamant I wouldn't be topping up here but certainly more interested now.
GLA
I agree, it appears the new management team are really tightening the nut... Example being 'Aministrative' costs, down by half to £3million from £6million year on year is significant imo
With the current covid situation and changing consumer habits It provides 7 dig the best opportunity to meet its target of profit
If not now then we are all in trouble!
Exactly, if asked the question is Paul sorting it out? The answer is categorically yes. I think they're doing all the right things and I think it's fair to say that we now know the results will be pretty good next year, with plenty of good news up until those next results.
The numbers are actually quite good and a significant improvement. It is actually quite a lean operation