Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant. Watch the video here.
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Does anyone know why the huge drop today?
I believe its just the market as a whole at present......i will ride it out as fundamentrals are excellent.......
Interesting movements on here today, anyone got any understanding of the volatility in the share?
Nice start...
All................
Another blue day..nice steady rise everytime..
Sumo Group earns developer fees that are not contingent on the commercial performance of the game and that makes for good cashflow......
A recent acquisition in Newcastle brought in 34 developers with virtual reality experience and that type of deal will be the model going forward....
Businesses that bring a complementary set of services to Sumo or Atomhawk. An owner managed business would be ideal, he ............
Sumo has scope to be rated more in line with gaming company peers listed in London..........
Companies in the video games space tend to command high valuation multiples due to the growth dynamics of the industry, Sumo has strong growth prospects, a limited risk business model, and strong cash-flows....
Revenues are growing at 40%, with the scope to boost that rate of growth even more by acquisitions
Video games are a growth market, with the sector overall expected to grow by 8% year-on-year until 2021.<br /><br />Sumo is a games developer and has worked for some of the biggest names in the space such as Sony, Microsoft, Sega, Activision and others.<br /><br />Fee-based creative services account for 90% of its revenues with visual design group Atomhawk the remainder.<br /><br />Underlying trading for the group, which listed on AIM in December, was very good in 2017 said and the group will look to use its listing as a springboard to buy and build
Nice blue day all..
Good luck lee...was a strange reaction yesterday to good news..
Morning!
Decided to withdraw from Sumo yesterday after a relatively strange day. Seemed like a positive result but not echo'd through the share price!
All....
pulled back some of the drop from this morning.......nothings changed fundamentals are excellent...
Usual games..
Ask just gone up to 195.00 another good rise on cards after a good set of results...........
Carl Cavers, Chief Executive Officer of Sumo Group, said:
"These results cover our first half year period as an AIM quoted company. The business is flourishing under this new, independent capital structure and I am delighted to report an excellent performance in H1, driven by continued strong organic growth in our core services. We are seeing exciting business development opportunities, as the video gaming market continues to grow globally. This, combined with our low risk business model, gives us a great deal of confidence in the ongoing success of the business.
"Our investment in people and locations continues, as demonstrated by our recent acquisition of The Chinese Room in Brighton, an industry hot spot. We have strengthened the Board to support growth. We are a people business and the appointment of Andrea Dunstan, with her people expertise, shows our absolute commitment to ensuring that Sumo Group is in the best possible shape to attract and retain exceptional talent."
About Sumo Group - www.sumogroupplc.comÂ
Sumo Group's award-winning businesses provide creative and development services to the video games and entertainment industries, from studios in Sheffield, Newcastle, Nottingham, Brighton, Pune (India) and Vancouver (Canada).
The Group's operating businesses include Sumo Digital and Atomhawk. Sumo Digital, its primary business, is one of the UK's largest independent developers of AAA-rated video games, providing both turnkey and co-development solutions to an international blue-chip client base.  The Sumo Digital studio in Brighton operates under the name of The Chinese Room and was acquired in August 2018. Atomhawk, a complementary business acquired in June 2017, is a multi-award winning visual design company, servicing the games, film and visual effects industries. Together, the Group delivers full-service visual and development solutions, which include initial concepts and pre-production, production and development, and post-release support.
current trading outlook...
Acquisition of The Chinese Room in August 2018 accelerates the Group's own-IP pipeline and provides new intellectual property, creative talent and the opportunity to develop a new studio in the south of England, extending the reach and accelerating the growth of our core business
Strong business development pipeline and the Board expects to have good visibility of 2019 revenue by the end of 2018
Andrea Dunstan has today joined the Group, as a non-executive director and chair of the Remuneration Committee, bringing extensive experience of organisational development and HR strategy
Current trading since the half year end has been in line with the Board's expectations
The Board is positive about the outlook for the Group and expects results for the full year to be in line with consensus market forecasts
2018 Highlights...
Strong performance driven fundamentally by organic growth
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Adjusted gross profit margin excluding pass-through and royalties of 41.8%
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Sumo Digital took on the Newcastle studio of CCP Games on 1 January 2018, further strengthening the relationship with CCP Games and bringing a new location to Sumo Digital and 34 talented people
Maintained strong balance sheet with net cash position of £6.5m (31 December 2017: £12.4m)
Plenty of interest here with 202 trades today....and with some nice sizeable trades to boot........
Remember to tune in tomorrow for first half results...should show good growth so will be interesting....
Revenues grew last year to 28 million while profits grew to £7.5 million.........