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Looking good for April 2019 onwards..............
Here we go, lets hope we see a few more of these
Nice set of results, steady as she goes...........
TAX has been tipped as a BUY in today's Midas column in the Mail on Sunday.
Good set of results, don't think the party really starts here just yet though
Early doors here yet, next 2-3 yrs should see a major transformation
Would have been better if they provided more information revenue/profits hoping for good numbers September
It appears steady progress is being maintained, still looks a bit of a plodder right now
The top management of this relative new-comer to AIM, headed by CEO Gavin Lyons (a partner of MXC Capital), had identified the market for the automation of Corporation Tax reporting as providing significant growth potential. As a result, a shell company (ECO City Vehicles plc) was used to buy Tax Computer Systems Ltd (TCSL) in July of last year and reverse it onto the public market as Tax Systems plc (AIM: TAX). TCSL had a long history in the business, an established software platform and broad UK customer base, as well as £12.8m of revenue in 2015 and an EBITDA margin consistently around the 50% level. The acquisition was transacted at an Enterprise Value of £73m. Today’s results show the performance of Tax Systems plc since the acquisition to the end of the calendar year. Revenue totalled £5.8m, with EBITDA of £2.7m. An operating loss of £3.2m and £0.8m of Finance charges drove a pre-tax loss of £4m. The company had net debt of £24m at the year end. Annual software licence sales totalled £5m, some 80% of the Group total. Management’s key next step was to buy Little British Battler OSMO, for its ability to extract data automatically from diverse accounting systems and to significantly alter the economics of building tax returns. (Corporation tax appears to get ever more complex and Brexit will probably make it even more so). This acquisition generates a significant element of differentiation as Tax Systems sets out to serve companies as they move to quarterly tax reporting and respond to the government’s policy of “Making Tax Digital” by 2020. Tax Systems’ goal is to provide end-to-end and substantially automated solutions for tax departments. With the progress already made, it seems to be building good foundations for an exciting future
Yes it I should a shame. Results are due very soon also. Should give an indication on any organic growth.
Be nice if LSE RNSs was working correctly so others had been informed!
Acquisition of OSMO. Lots of cross selling to be had there!
Loading up here for the inevitable rise!
You were correct interesting RNS. I did sell out today as at my stop-loss level but have put back on the watchlist and see where it goes from here.
Yep just as I thought.
Looking at the RNS the 2 million trade must have been a buy, not a sell. Maybe those other big trades were also buys. Typical AIM, huge buys and the SP goes down.
Personally I think there could be more to those trades. I would expect more dramatic fall for £3million worth of sells of a company with a MK of £42m
Does look like big seller maybe rns tomorrow or Wednesday
Some massive trades just gone through. Seems like someone didn't like today's news. Probably get a holding RNS soon. I was going to buy in here but I guess I'll wait just a bit longer.
I think this is going to be steady/boring tbh, lets hope not...............
Lets hope does not drift too far but very well could be hidden gem this one when gets going.
Trading update hints of organic growth and acquisitions coming. If it is performing as expected then this is undervalued. Pretty much at admission price now so I'd like to think the BOD would not let it drift below this.
Think we all still waiting needs some proper news this one or can see it drifting down to 60p. Seemed solid core business but gone all quiet!