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Looking good - "The Board is pleased to report a strong performance during the second half of FY23, with total unaudited revenue for FY23 being slightly above market expectations, at approximately £5.8 million (2022 restated: £4.7 million), due to particularly strong Brand Experience revenue, the successful launch of our Rock Up and Pop Up service and the continued recovery and expansion of our German retail business."
As the Group's products and services continue to evolve, during FY23, the Group reassessed its revenue recognition policies in its UK retail division. Previously, all revenue within the UK retail division was recognised on a gross basis, as it was deemed to have one performance obligation. Following this reassessment, it is now considered that there are two separate performance obligations:
(i) acting as the promotional space agent which involves the marketing of space to licensees and entering into and managing licence agreements on behalf of venues as their agent; and
(ii) the short-term rental of the Group's own kiosks.
Accordingly, UK retail revenue will now be recognised on a net basis in FY23, with FY22 comparative figures being restated. Under the new revenue recognition policy, market expectations for FY23 revenue should therefore be adjusted from £6.5 million to £5.7 million. The reassessment does not impact reported profits.
In terms of balance sheet, as at 31 December 2023, the Group had cash of £1.9 million (2022: £1.9 million) with £1.1 million of term loans (2022: £1.5 million) and undrawn bank facilities of £0.7 million (2022: £0.7 million). Therefore, total cash available as at 31 December 2023 was £2.6 million (2022: £2.2 million).
The Group expects to announce its FY23 results during the week commencing 29 April 2024.
Yes, very encouraging.
Cash was £556k on 30/6/23 so H2 has been excellent with cash inflows of well over £1m. Clearly cash is very important for such a small company so this is really positive
Excellent set of high level numbers…
Guidance gross revenue of £6.5m beaten with approx. £6.62m delivered.
Net revenue at £5.8m is up 23.4% on 2022.
Net debt is down 26.66% and falling monthly.
Cash is strong at £1.9m…
Shares could easily re-rate above 100p.
Now trading at 67.5p and a valuation of just £1.32m looks crazy cheap.
Not often that you find a share that is clearly under the radar.
Wish I seen this earlier, think it was around 62p offer early doors now 80p going. Maybe it's finally time value stocks got their day in the sun, far too many of them sitting at ridiculous market caps. This is probably being helped by also being joint top % leader which means traders have a bash too sending it higher ..for now
Wish I see this earlier too, does look very cheap valuation under 2M MCAP unless I’m missing something
TBH it held up well today, not many people sold out today who bought yesterday, at some point it will turn again and get over 100p, could drop too first it was NT to sell all day hence the discounted sales even small ones but it could easily flip on probably just 10k of buys too
Just 1000 shares available at 80p, somebody is taking 1500 clips but stock is tight. One of the cheapest stocks on the exchange, shame nearly everybody else wants a fast buck as this is amazing value
1,500 bought at 80p at the open today.
NT to trade - no shares currently on offer…
There's a total squeeze in this one atm. Just 75 shares max online with 2 mm's sitting on L2 at 500 each. I'll help you out market makers, give me say 130p+ and I'll let you have some, should be higher and probably will trade at 200p again once people realise how cheap this, not many sub £2 mil stocks that generate cash and have a sound business is there, 99% of them on Aim are struggling and need to raise funds !
Couple of 5000 trades at 85p got to be worked buys. £1.66 mil market cap. £1.9 mil cash in the bank with strong growth and cash generation and might be profitable now too. Better sell and put in something going bust like Sed or Vast :-))
Cannot buy 5000 online but can buy 2500 but at mid price 80p atm...results next month will spring this back to life
Nice to see some interest and 2 mm's move up to 80p bid today
The online spread here these mm's are a joke. 75.1p to sell 84.1p to buy, taking the mick again. Good to see a major holder adding more and why not, the stock is a bargain
The shares do look cheap…
Valuation around £1.55m now against gross revenues of 6.62m.
Q1 looks healthy from a social media perspective.
And hence I have bought a few more.
All about 2024 now and driving sales and cementing profitability.
Well at least only 4 weeks to wait for these results. I bet it will be same as last time crazy for 1-2 days as all the traders pile in when seeing what great value they are, shame they will all sell out again or maybe it will push on this time
Wish I could buy more at 75p the way this little distressed seller is knocking them out 500 shares at a time NMS style.
3 weeks for results and we know they should be excellent
People selling at 75p, I've just tried a buy and they want 82p takes the mick, mm's are unbelievably greedy atm
Another new major shareholder ???
Not sure how they have sat over 3% since the 21st December 2022 without reporting such.
But a 2nd holder with over 7%...
Too dull a share for this traders market. Perhaps results day in about 2 weeks time will change that again
NT to sell at 75p but to buy we have to pay 82p I would be adding before results if it was not for this daylight robbery spread and limits by the mm's.
Ps very good omen they are doing a presentation too next Monday, looks like some good numbers coming. Given it's already incredible value it might just be a easy doubler this year
Even better Omen after today's news, probably one of the best value stocks on the whole market. Seeing stocks with no cash and no business with valuations of multiples of this one
What a absolute joke 75p to sell online and 84.9p to buy, no premiums to sell and no discounts to buy a whopping 10p spread online or 9.9p to be exact, these mm's are bloody criminal
So £1.56 mil market cap, net cash of £700k, profitable and cash generating and business performed best in 24 years come on market, there's stuff like Enet losing £5-10 mil and punters go nuts for it, this really should be re-rated but it's a traders market so unless it takes off will anybody take notice or care ?