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wheres the 30.4m debt - at worst I had calculated it to be around 24 -25m?
Agree with the comment about debt. However, if I understand your figure of 30.4m correctly, this would be the total repayable in around 5 years (including all interest charges). Over this same period of time, and based on your estimated annual revenue of 25m we may conservatively hope for total revenue somewhere (perhaps significantly) north of 125m.
It’s also worth considering that the lenders of the finance have a very vested interest in long term success here given their very significant and costly share holding.
Agreed, cost savings and a new big contract. 3p is cheap on existing contracts.
"there DEBT , which you also might need to check the meaning of in the dictionary"
You might like to use the dictionary to check the difference between their and there.
I'm sure there is no need to be sarcastic and suggest fellow posters should refer to the dictionary.
This might well drop back after such a huge rise, but this company is worth a lot more more than 3p a share.
In a previous RNS they said remote working had been good for business, and from what we are currently seeing there is going to be a lot more home working, not just during the pandemic, as remote working is going to be the new norm.
I will agree it is a significant contract, and long may that continue, would love to see this carry on going up and up, but we all know that's not how markets generally work. Would you like to know what else is SIGNIFICANT , yep there DEBT , which you also might need to check the meaning of in the dictionary, also they have been loss making for at least the last six years, lets just not get ahead of ourselves, excitement is one thing, but lets just take one step at a time.
Having looked into this and spoke a broker Friend - this has been ignored for long time. And this contract is game changer for IDE. They expect to see more of the same from their £multi billion big customers.
3.45 was paid with thanks - as joked my Broker friend.
I was talking about total rev on the books to deliver
£11M, you must agree, Unless you want someone to just give some shares :) Sorry nobody will.
Its a significant contract based on current mkt cap and IDE business model. SIGNIFICANT - use enggish dictionary to under stand the meaning and then apply it to (oversold) business setting where money is involved.
magmanus, 28m was last years revenue 2019, cant find 2020 forward looking expectations, though to be fair i haven't over looked for them , but for the last three years that has dropped each year and don't see that as being any different for the 2020 accounts. Also you can't add the whole of the new contract win to this years revenue, its a three year contract, so that's only £7.5 m per year, and that won't kick in until next years accounts. So i'm estimating next years revenue including the contract win being at about £25m, which is a long long way away from yours. Fag packet maths i know, contract wins are great, and i hope they have many many more of them, but the figure that worries me the most is the £30.4m of debt.
Agree TGrus. £25M upside is nothing to sneeze at, and now possible to build pipeline with their big clients. Thats where the money is in this business and cost effective. Less is more.
could hardly buy anything on close @ 2.80, last few at 2.89.
really good close give the initial rise. No in their right mind selling having bought here under 3.5p today. GLTA. This is one is buy and hold for me.
Mkt cap of £11m here is now joke :)
There will be many more customers, this is just on Government contract! Tax losses will be offset in April, massive upside here still waiting. Long-term holders leave this for a 6-8 months, day traders ~3 weeks. Let weak hands sell this, there will be buyers waiting to pick up more at these cheap prices.
Magmanus - ehe £22.5m is in ADDITION to the £5million PER ANNUM all from ONE EXISTING CUSTOMER.
What about the other customers?
current market cap is a joke here.
agree TGrus - a little patience is needed. We just looking for sellers to take off.
It has legs now, and was very oversold even without the contract - so this minor upside to say the least..
gov contract fireworks! leave this for 2-3 weeks and easy double money here.
I think they have a contract with Atos covering .gov services...could be an uptick on this
they also are involved with the MoJ - perhaps their partner was European?
Must be a client with deep pockets.
https://www.idegroup.com/about/testimonials
sorry - who is the existing customer?
Its through theIR partner channel - so expect a few more as they get commission for getting sales for IDE
Significant Multi-Year Contract Win
IDE Group Holdings plc, the mid-market network, cloud and IT managed services provider, is pleased to announce that it has signed a significant new contract with an existing customer within its partnership channel (the "Contract"). Under the terms of the Contract the partner has committed to procure services from IDE to a value of £22.5 million over the next three years, with the opportunity to extend for up to another two years if the commitment is not met. The £22.5 million is in addition to the existing circa £5 million per annum of revenue contracted with the partner. The Contract was awarded based on the excellent service provided by IDE to the partner over the years together with a commitment from IDE to reduce the cost of services across the partner's customer base.
Anyone got a scooby as to who the contract is with?
sorry, up 40% on my RMS.
Will do even better here.
Unable to buy anything with HL.
Major you in RMS.
Dong well there too. up 20% from this morning buy call. :)
major boy - well done. there some seriously unhappy kids here who missed the boat, who could not buy.
just added too.
most don't know value from their elbows
like taking candy of kids! :) 2ok added.