Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
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A fine set of results showing that the strategy of offsetting the POC tax introduced last year: is working a treat. And, what a great idea it was to purchase Otherside in August: to have a dedicated marketing/advertising business driving traffic to the various brands' sites. Watch out for the new brand launches in the next few weeks! Outstanding cash generation continues with 4.7p of the current SP covered by cash in the bank! Note also the references to the increased M&A activities. Must be ripe for a takeover approach given the metrics and depressed value on offer here. A Market Cap of circa £28M and £13.9M of that is already accounted for by cash in the bank (excluding depositing players' balances) for a highly successful niche gaming company and its very own highly successful bolt-on marketing business. Wonder who might be looking at this with a view to a kill?
results for the six months ending 30 June 2015*: Key Performance Indicators § 21% increase in new depositing players to 42,305 (H2 2014: 35,102; H1 2014: 40,585) § 13% increase in active depositing players to 63,411 (H2 2014: 56,079; H1 2014: 62,356) § Net revenue of £12.7m (H2 2014: £12.9m; H1 2014: £14.5m) Operational Highlights § New three year partnership agreement signed with Channel 5/Viacom† § Succesful implementation of revised marketing strategy § Key KPIs remain strong § Launched fully responsive SuperCasino site ensuring a consistent user experience across all devices § Increased average revenue per active depositing players across the casino-only brands of £273 (H2 2014: £270; H1 2014: £265) Financial Highlights § Adjusted EBITDA‡ increased to £1.3m versus prior periods on a like-for-like basis (LFL)§ (H2 LFL 2014: £0.1m; H1 LFL 2014: £0.6m) § Betting and gaming duties expense of £1.9m (H2 2014: £0.4m; H1 2014: £0.1m) following the introduction of the UK Point of Consumption (POC) duty § Marketing expenditure reduced by 24% to £4.5m (H2 2014: £5.9m; H1 2014: £7.1m) as a result of more efficient expenditure § Adjusted profit before tax** of £1.1m (H2 2014: £1.2m; H1 2014: £2.1m) and reported profit before tax of £0.2m (H2 2014: loss of £1.1m; H1 2014: profit of £1.2m) § Adjusted earnings per share** of 0.37 pence per share (H2 2014: 0.40 pence per share; H1 2014: 0.70 pence per share) § Cash and cash equivalents, increase to £15.8m (H2 2014: £14.2m; H1 2014: £14.3m) with net cash generated from online gaming operations†† of £1.0m (H2 2014: £1.1m; H1 2014: £1.9m) § Interim dividend maintained at 0.22 pence per share, ex-dividend date Thursday 1 October 2015 Post Period Events § Completion of acquisition of Otherside Inc., an specialist online digital marketing, product development and technology company, for a total consideration of £3.2m‡‡ § Launch of mobile sportsbook product on Vernons.com which is already taking in excess of 50% of all sportbook bets Commenting on the results and the trading update, Bjarke Larsen, CEO of NetPlay TV said: "We are very pleased to report our decisive action at the end of 2014 has delivered such a positive outcome with all of our KPIs holding strong. In a post POC market, our strategy to focus on TV-led customer acquisition, supported by digital marketing, has proved successful. "We're excited about the opportunities that the acquisition of Otherside Inc. brings to the Group initially providing a profitable revenue stream whilst adding to our capability in driving traffic to NetPlay's brands once the integration is complete. This alongside the Group's solid marketing performance and oppor
...this Tuesday coming, the 15th.
Although it was talked about in July seems like there are deals to be done.. NPT looks cheap at the moment for a potential partner/takeover http://www.lse.co.uk/sharecast-news-article.asp?ArticleCode=23227464&ArticleHeadline=BwinParty_asks_GVC_for_best_offer_as_bid_issues_are_resolved
http://www.lse.co.uk/sharecast-news-article.asp?ArticleCode=23220221&ArticleHeadline=Betfair_and_Paddy_Power_agree_in_principle_to_merger_terms maybe someone will want our online business
why 17p
Great top up or buy in price today post the China panic sellers.
I'd go with that as a broad shout - wonderful long-term triangulation here though so with the right move it may go miles higher - well worth a look if it dips to 7s; could be a while to see those higher numbers but looks decent to me ...
I do not think 17p is at all unreasonable - just not sure of the time horizon required to get there. The broader market is a concern at present but my feel after following this company for a very long time is that the underlying business is strong. It maxed at about 24p going back to Q3 2014 and while there was a shock based on a poor marketing trial in 2014, I feel the sell-off was far beyond reasonable. The POC tax was always on the horizon since it was announced and I think steps were taken to address and account for it. This business sits in the sweet spot of several intersecting sectors (gaming, TV, online, mobile etc.) So, I am holding for now to see what Q2 looks like...I am averaged in at around 10p.
Zak Mir is forecasting up to 17p for this share. I'm certain that will happen. However, as I've said before I wouldn't rule out a takeover in the future. This is my opinion. That 17p target comes from Zak Mir in his tips today. GLA.
Yes...just read the comments below to make dup your own mind as to reasons.
..last Friday... Anyone know why?
IC VIEW: The share price dove 5 per cent the day these results came out, leaving it down 50 per cent year-on-year. It now trades on a forward PE ratio of just 10 and yields close to 6 per cent. Considering the income on offer, we think it's worth a speculative punt. Buy.
Would you be so kind as to share his update?
V. positive update by ST online today. Still rates as a BUY.
Makes the Q2 statement/ reporting that much more important. Bringing such marketing skill inside makes sense to me if it puts them on the front foot in terms of strategy though what all really want to know is what the underlying performance is looking like - cash generation.
My 9 July prediction might be right. I don't know anything about this business but this has all the hallmarks of a Teddy Sagi related business acquisition - Israeli staff, offshore registration, digital marketing / affiliation - I reckon he found a way to get a 100% dividend out of Netplay rather than share it with the other shareholders! Happy to be proved wrong if anyone knows anything more about the ownership of the Otherside
Anyone know when NPT might be sharing Q2 results?
Highly significant recent appointment. Developments. Clue?
Sunshinequeen - you may be interested in looking at recent evidence of low multiples being paid for subscale gaming businesses this week Unibet - £19m acquisition of Stan James (been on the market for about a year or so) and 32Red's acquisition of Roxy Palace (largely in shares) Very difficult being small in this highly competitive market-place
thanks Sunshine... I greatly appreciate your help
Fine - let's just agree to disagree. Let's discuss again once there are numbers available.
Myfairlady, sorry to say but you've got the facts quite wrong with the earnings and the extent of the impact the POC. I have to disagree that the business is going in the wrong direction. POC is very old news now and NPT took decisive action last year which has been bearing fruit since early this year to mitigate the extent of the POC. Unlike other gambling companies, NPT has taken unique steps to retain and recruit players from very successful initiatives rather than splashing out on increased marketing spend at the expense of margin and profit. If you do some basic research, even from on line sources which are readily available, you will see that the turnaround is well and truly underway here. At 10p per share with almost half of that ie 4-5p covered by free cash at bank and no borrowings, revenue approximating the current MC; there's no question that this share is cheap on a forward ratio of 5-6. How much cheaper could it possibly be without being ludicrous?
Ok put it in the heading instead! Not going to carry this conversation on - the only metrics I really care about are earnings and these only seem to be going in one direction, the wrong way, and that's before POCT impact. Good luck with your holding I'm done now
Myfairlady, I've done my own research in NPT and reached my own conclusions which are also shared by many commentators. Undervalued, by many metrics. Market Cap of £30M and circa £12M (maybe more) in the bank. No borrowings. So not far off half the current SP of 10p is backed by cash in the bank; net SP of 5-6p. And, that's just the start. That's the basis of my opinion that this one is significantly undervalued.