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Whilst the performance for the first quarter of 2013 was slightly behind management expectations, given the previously announced investments, the Board remains confident for the outlook for the current financial year.
SDL plc Q1 Interim Management Statement 25 April 2013 - Maidenhead, UK - SDL plc ("SDL": LSE: SDL), a leader in Customer Experience Management solutions, today publishes its Interim Management Statement incorporating the period from 1 January 2013 to 31 March 2013, as required by the UK's Listing Authority disclosure rules. Whilst the performance for the first quarter of 2013 was slightly behind management expectations, given the previously announced investments, the Board remains confident for the outlook for the current financial year. The Technology segment's revenue performance in the first quarter of 2013 was broadly flat on the first quarter last year and slightly behind management expectations. Licence bookings in Content Management Technologies and Machine Translation were in line with management expectations, and bookings in Campaign Management, Analytics and Social Intelligence were behindexpectations. As previously indicated, the planned marketing and sales investments announced in November 2012 and in our preliminary results for 2012, has had the expected short term impact on the profitability of this division. New contract wins in the period include Info.com, Elekta, Tokyo Electron and GTA, part of Kuoni Global Travel Services. Language Services revenue in the first quarter of 2013 was marginally ahead of the first quarter last year and we are pleased with this performance given that Q1 2012 was a very strong quarter for the Language Services segment. We see continued growth momentum in the business. However, profit is down on Q1 2012 due to a combination of pricing pressure and investment in the transition to automated translation and is therefore performing slightly behind management expectations at this stage. New contract wins in the period include Edwards Lifesciences, Rolls Royce and Premier Farnell. As planned, we have recently hired a Chief Marketing Officer. In addition, SDL's previously announced marketing and sales investment plans remain on track. This is crucial to build our pipeline and bookings for the remainder of this year and beyond. SDL continues to lead in Web Content Management technology, and more importantly has emerged the leader in Customer Experience Management, according to the recent Forrester Wave TM. We have recently launched our new Social Intelligence platform, and remain on track, with other product launches, to cement our leadership in Customer Experience Management. Commenting on the IMS, Mark Lancaster said today: "We remain confident in the need for Customer Experience Management technology in the market place and believe our suite of products and services addresses the challenges of engagement in the new digital world. We are making very good progress with our investment in sales and marketing, the returns from which we expect to start seeing in the form of bookings in the second half of the financial year."
£3xx was better bet than £5!!
close.... forward pe of less than 10 (c360) or EV/forward rev = 1 (here) or (Book Value (mostly intangible!!) c £3... somewhere here imv
Day hasn't even ended and % of sell trades is 87.10% (London stock exchange page)
2013 -> 280.45mil to 282.51mil
I accidentally pressed enter before finishing post, I can't really understand the sudden drop over the last two days.. Anything that I've missed?
- Revision of revenues of 2013 from 280.45mil to 308.07mil and 2014 from 300mil to 308.07mil. - Norges Bank and Blackrock Inc added and L+G decreased holdings. - Yvan Hennecart Vice President of Operations of SDL to join Lingotek
market seems to be backing Mr L & his investment plan
Earnings won't be spectacular but revenues will hopefully benefit from the additional investment, the forecasts currently at 280.45 mil for revenue.. Think the shares will take a while to recover, however when I did relook at the results I was most impressed with. "Geographically, headline growth in Asia was particularly strong at 46%, North America was 12%, with Europe (including the UK) increasing by 17%." Considering the issues in Europe that's pretty good and the Asia results is a promising signal for more things to come!
...earnings in interims will look poor imv.. ...so wait and see time 4 Jolly £3 would probably be a bargain (less than 10* pe)...but how likely to get there?!! lol all opinion only
..hope Lancaster healthy..lot resting on his track record..
The revenue numbers were pretty good and outlook is promising especially since they are investing heavily. This will take a lot longer to play out than I expected but I will be looking to add to this position within the next few months. Lancaster has everything under control now.
Mark J Lancaster 680,949 £2,996,176 Christopher Batterham 86,895 £382,338 Chris Batterham 86,895 £382,338 John Mattews 20,000 £88,000 Mandy Gradden 7,500 £33,000
goodies later
This will enhance technology revenue growth in 2013 but will reduce profits for 2013, particularly in the first half of the financial year.
i guess on balance...i do... ..i think this investment is probably the way to go & back him to pull it off "we will make significant discretionary marketing, sales and R&D investments of £8 million to £9 million in 2013 to return SDL to strong technology growth." opinion only!!
Operational highlights · Headline revenue growth of 17.6% driven by underlying organic growth and strong Alterian contribution. · Performance across the three segments at constant currency: o Language Services revenue grew by 12.4%, driven by strong sales and marketing execution. o Content Management Technologies revenue declined marginally. o Language Technologies revenue business was flat. · Geographically, headline growth in Asia was particularly strong at 46%, North America was 12%, with Europe (including the UK) increasing by 17%. · Significant new client wins during the year included Barnes & Noble, Husqvarna, KONE, Majestic Wines and Purina. · Net cash of £6.3 million following the £70 million acquisition of Alterian in January 2012. · In addition to the sales and marketing investment announced in November 2012 a further £4 million to £5 million of sales and marketing and R&D will be invested in 2013 to create a more robust platform for future growth. · Final dividend of 6.1 pence per ordinary share, a 5.2% increase over the dividend paid in the previous year reflecting our confidence in the outlook.
Outlook Although the macro economic situation in Europe remains challenging, demand in key northern European economies is expected to remain stable in 2013. Slow recovery in North America is expected to continue at the macro-economic level, and the prospects in developing and emerging markets in Asia and South America are strong. We remain confident in our outlook for sales in 2013 and we will make significant discretionary marketing, sales and R&D investments of £8 million to £9 million in 2013 to return SDL to strong technology growth. This will enhance technology revenue growth in 2013 but will reduce profits for 2013, particularly in the first half of the financial year. These investments will take SDL to a new level, creating a solid platform to deliver significant sustained revenue growth and profitability to 2014 and beyond. SDL remains well positioned for growth and stability selling into multiple geographies and across a variety of sectors. SDL has increased its presence in Asia and North America in 2013, partly due to the addition of Alterian and partly due to organic investment. We enter 2013 with a compelling set of products and solutions and a great vision that has proven delivery over the years. Our pipeline is strong and gives us confidence through 2013 and beyond. The Board remains confident in the Group's strategy and execution capability. The balance sheet is strong, enabling both organic and acquisition growth opportunities to be pursued as they are identified. As we look forward, the Board is confident in the Group's growth prospects and long term potential to deliver future profitable growth and shareholder returns.
"Although the underlying organic growth for the group was strong, 2012 was a difficult year for SDL. As a result of under investment in the business in 2011 and 2012 performance has been impacted, particularly in the technology segment. Despite this we remain confident in our outlook for sales in 2013 and, as announced in November 2012, we will make significant discretionary sales, marketing and R&D investments in 2013 to return SDL to strong technology growth. The quantum of the total investment will be £8 million to £9 million. This will enhance technology revenue growth in 2013 but will reduce profits for 2013. These investments will take SDL to a new level, creating a solid platform to deliver significant sustained revenue growth and profitability to 2014 and beyond."
yikes
2 think they will b
Any news on the share? its fallen quite a bit since Blackrock dropped it... Results on tuesday going to be bad?
steady re-rating imv....
I know that is their figure, but do you think the analyst made a typo?