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Exactly Brighty, The IPO here was massively successful racing 80 plus mil, the balance sheet is tasty and both the new and continued government revenue streams make the current mcap look very lop sided.
Agree brighty1 .....i see this being over 40p a share very soon too and should see this heading in the mid 20.00s this week .
Good to see the re-trace commence. Back in Feb MTEC confirmed EBITDA had increased by 180% against the prior period to £1.4m i.e. 13p a share currently undervalues MTEC significantly. The contract announcement today is probably the first of many post April (Gov't new year accounting period). A big re-rate is on the cards here. MTEC's share price was over x 10 at 140p not so long ago and just 12 months ago was over 40p a share. MTEC is debt free and has a strong balance sheet with £7.9m net cash at the Period end.
Good luck, Brighty
Lunch time over and market makers are now shifting this up higher. Could see a major rally this afternoon and run up to close
Big buyer in the background seeing the value too Gordonbennet1 and buying in chunks of 250K
Nwegrange yes Kainos has a meteoric rise and Made Tech is gaining traction and truly undervalued and very cheap that's why i bought in today. They are a named supplier of major UK Government framework and see them winning quite a few more contracts and see the share price quad bagging or rising massively from where it is today. A lot of people are now seeing Made Tech as a real player in the market place and buying in at this bottom price and should bounce up significantly over the coming weeks.
Mr 250 is holding it back with his continued buys, all day no matter the price he's picking them up. Reraet will be fast once he has done!
Good comparison Janet as Kainos is a Belfast based tech company which has had a meteoric rise in a very short space of time!
The share price AT IPO was 122.00 now and now is the best time to buy today and should see this bounce back multiples from the price now AT 13.00, Its a little gem ready to multi-bag and see some BUY rating coming very soon ....YES high stakes could well be the new Kainos moving from little gem to big IT player In the public sector
The new Kainos??
More Government contracts to come: It previously won a contract with the home office - Home Office Contract worth £10 million contract over a 24-month period, with a six-month extension option worth an additional £2 million, so really making good progress and should see a strong bounce in share price .....fair share price and rerate is mid 30.00s
(Alliance News) - Made Tech Group PLC shares jumped on Monday, after it said it has won a GBP19.5 million contract.
Made Tech is a London-based provider of digital, data and technology services. Its shares were up 37% to 12.63 pence each in London on Monday morning.
Made Tech said it has won a new contract with Department for Levelling Up, Housing & Communities.
It said the contract is worth up to GBP19.5 million in revenue over a 24 month period.
Made Tech said it will work with DLUHC on the design and development of new digital tools and services.
The company first won a contract with DLUHC in 2019. It has since won further contracts with the division in 2021 and 2023.
"Having supported DLUHC to deliver more than 35 digital projects since 2019 we are excited for the opportunity to continue building our partnership. The award of this contract helps underpin our revenue expectations for [financial] 2025 and is a testament to the confidence in Made Tech to deliver major new programmes of work," commented Chief Executive Rory MacDonald.
By Sophie Rose, Alliance News senior reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2024 Alliance News Ltd. All Rights Reserved.
Price is very cheap and see this being above 20.00+ very soon....today news should see some big boys coming in over the next few days imho
Me too. It's been battered down but this contract win is the fourth government contract now and the largest by some way. Looks like they've really got their foot in the door with public sector IT.
Made Tech, a leading provider of digital, data and technology services to the UK public sector, is pleased to announce that it has been awarded a new contract with The Department for Levelling Up, Housing & Communities ("DLUHC"), worth up to £19.5 million revenue to the Group over a 24 month period with a 12 month extension option.
Made Tech will work with DLUHC on the design and development of new digital tools and services. The first of these services to be delivered under this contract is expected to be the Privately Rented Property Portal - a national private rented sector database.
Made Tech won its first contract with DLUHC in 2019 to deliver the Energy Performance Buildings Register worth c.£0.8m. Following the award of the initial contract, Made Tech has since been awarded further contracts including Digital Planning Reform Delivery Partner in 2021 worth c.£3.8m, and Digital Capability for Urgent DDaT requirements in 2023 worth c.£8.0m.
Rory MacDonald, CEO of Made Tech, said:
"Having supported DLUHC to deliver more than 35 digital projects since 2019 we are excited for the opportunity to continue building our partnership. The award of this contract helps underpin our revenue expectations for FY25 and is a testament to the confidence in Made Tech to deliver major new programmes of work."
This looks like a sweet gem that most people don't know of and today £19.5 MILLION Contract is a mega and significant contract and fundamentals say this is cheap ....just bought in
AND ANOTHER 250K!! someones taking everything they can here and im joining them albeit on a far smaller scale lol
Haha, Craw, you will be back in profit this week no doubt about it! this has been knocked down immensely its now time for a turn around!
https://www.cityam.com/made-tech-shares-jump-35-per-cent-as-lucrative-government-contract-announced/
2 ain’t a herd. Best of luck breaking even.
LOL, just two people described as “the herd”
Sorry Gordon/dealer55, but you are the herd.
Another 30% from here and I break even...
No herd on a Monday. It’s never a good day for RNS. It’s done 40% that’s good for Mon.
With almost 75% held in the hands of those buying at IPO in 2021 (£1.22) there's not many sellers around, could really get going through the gears soon!
https://www.singercm.com/made-tech-group-plc-181-million-ipo-85-million-capital-raise/
Yup Herd asleep today!
With a contract worth more than the present co many valuation.
We could well see a multi bag situation here.
I also think there will be more contracts in the pipeline.
Solid Buy up to 20p