Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Have taken a wee punt here. Positive RNS and low amount of shares goes well together for me.
That is a very decent RNS.
Was a 21k sell minute ago, won't help when there are so few shares....will take it down temporarily.
100 on its way by the look of order book
1.10 appeared on book, no stopping this today it seems.
For SAL and EVG ....BOTH VERY CHEAP AND UNDERVALUED
Going straight up as word and interest spreads. Have bought in myself.
Ridiculously low share float here, a cough and the sp will move!!
Good that there's now more interest in this hidden gem.
Wish I see this earlier too, does look very cheap valuation under 2M MCAP unless I’m missing something
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
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.
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
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.
BACKGROUND
Heart Scent is a Glasgow-based gifting retailer established in 2012 that has retailed within The Forge Shopping Centre, Glasgow since 2013. Heart Scent retail a wide selection of gifting products, many of which are handmade, or hand finished. Their range includes home décor, home fragrance and floral gifts
AIMS & OBJECTIVES
Expand retail presence into one of Glasgow’s top shopping venues
Grow customer base in Glasgow and surrounding area
EXECUTION
Utilise SpaceandPeople’s Rock Up and Pop Up service to open second physical location in one of Glasgow’s top shopping venues, Braehead Centre
RESULTS
Heart Scent have now been operating successfully within Braehead Centre since Spring 2022
Consistent sales results within Braehead Centre, averaging £10,700 monthly
Expansion of personalised product line with many items being available on the same day as purchase
Introduction of popular click and collect service for custom orders
“The opening of our second location with the help of Rock Up and Pop Up was a pivotal moment for Heart Scent’s growth as a business and we have received such a great response from customers in Braehead Shopping Centre. Meeting new customers at our second location has allowed us to gain great feedback and ideas which has led us to launching new product lines including an expanded personalised artworks range.
– Karen, Heart Scent
We are pleased to announce our latest winner for Retailer of the Month is Ishvari by Renu Modha!
We began working with textile brand Ishvari by Renu Modha in mid-2023 to expand their physical retail presence in the UK. The retailer had previously hosted pop-up concessions and were eager to launch their own pop-up in the UK. Ishvari by Renu Modha used our Rock Up and Pop Up service to trial some of the UK’s top shopping venues and have now been successfully retailing within Westfield London since October 2023. Their range of bright and beautiful scarves and accessories have been a big hit with shoppers at Westfield London and are attractively merchandised on their monochromic pop-up shop. The retailer had a busy festive season that has continued into the new year with new products continually being added to their range.
Here’s what Renu had to say about their journey with Rock Up and Pop Up:
“Rock Up and Pop Up has enabled our brand to retail in some amazing locations in 2023 including The Trafford Centre and Westfield London! We’ve been able to showcase our eye-catching range perfectly from our branded pop-up and are looking forward to meeting new customers this year.”
We’re delighted that Ishvari by Renu Modha will be continuing to retail with Rock Up and Pop Up at Westfield London in 2024 - well done team!
I am hopeful of hitting the £6.5m and confident of further revenue growth for 2024.
Keen to see if the company is to post a profit and make a mockery of the current valuation.
I would think that the £6.5m guidance will be pretty accurate. Listening back to the previous Investor Meet Presentation, I feel that there are a lot of positives, and room for further growth. Seems to be a well run company in my eyes.
https://www.youtube.com/embed/JclwXAzKD24
What is your thinking on the revenue number Barnacle - the company reiterated guidance of £6.5m at the half way point?
The run up to Christmas should have been good in both the UK, Germany and Austria.
In Germany, The new Trading Agreement with Multi, opened up the prospect of an additional 10 venues. They are also looking to expand into other neighbouring countries, so again, good potential for overseas growth in this area.
There is also an 'endless demand' for Rock Up and Pop Up, and the company were in going to 'more than double' the RUPU offering in H2 so this should again increase revenues.
They are also looking to grow the Network Rail business, so I can only see this relationship strengthening.
Moving forward, bar another pandemic, I can only see revenues continuing to grow, profits increasing, and as you say, at a Market Cap of only £1.14m the shares look extremely cheap......
I'm expecting a positive trading update.
I feel that both November and December were excellent months...
Revenues and a trading update due soon.
Guidance was £6.5m and a small profit.
The valuation at £1.2m looks very low.
Https://experientialspace.co.uk/a-selection-of-2023-christmas-activations/
I was lucky enough to have a one on one with the CEO and CFO yesterday morning and I got the sense that the book of business for Q3 and 2H is going okay...
It has been tough it would seem with brands switching from booking in advance to booking at short notice due to the changing retail sales market, but recent numbers seems to suggest that is changing back also.
The company seem positive in hitting the £6.5m of revenue and a move into profitability as does the Zeus Broker Note produced yesterday...
I will wait and monitor the social media posting which is increasing of late!
Just watched the Investor Meets presentation.
Slightly underwhelming as per the results and even the CEO looked a bit bored.
They did answer the questions in some detail though which was nice to see (and hear).
Hopefully H2 will get us to a small profit for the year.
I hope you mean 65p?
very disappointed with results; back to 0.65p for next 4 months and another gamble at full year update. again and again and again **** business it **** business.