Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Here's Edison Research's view (commissioned by Tungsten)
https://www.edisongroup.com/publication/foundations-for-growth-in-place/28814/
Run rate EBITDA expected to be >£4.8m per annum. Puts it on an EV/EBITDA of less than 7. I guess ODEY see a 50% upside...
"Topping up!"
You must be joking!!!!!!!! Blatantly obvious the BoD is grossly incompetent just sitting on their patooties and collecting fat salaries.
I notice over 60% of the shares are held by well known Institutions, including 15% by Odey!!! They must all be licking their wounds big time as must the Directors who piled in at prices well above the present level.
Unbelieveable. All the competitors have doubled volumes
Grossly overpaid incompetent management - it's been the same old story here for the last 5 years!
Funny company this. In the age of COVID and being a digital financial management products and software solutions provider - it reports difficult trading conditions!!
There was a £23m impairment charge booked against the 2013 OB10 Ltd acquisition. It isn't money "disappearing". Very clearly stated in the FY20 annual report.
I don't know one end of an accounts report from the other, but I would dearly love to know WHAT THAT "GOODWILL IMPAIRMENT" WAS ABOUT. £25m is a lot of money to just disappear into thin air. Explanation needed.
Without it, if I understand things right (probably not) the loss would have been £2.5m: less than half the 5.21 from the year before, and continuing a steady progression towards profitability.
Unless it's changed the half year ends on 31st October. I suppose it's too much from this blank wall to expect a trading update next week, but last year the interim results RNS was mid-December.
If I wasn't too far in already I would be topping up. We may even be in the black.
I preferred it when nothing ever happened. I have been in this for years hoping it would turn around, basic premise is a good idea, their execution must simply be awful.
"Operating loss of £25.5 million predominantly reflects a non-cash goodwill impairment of £23.0 million relating to a legacy acquisition".
Against revenue of £36.8m, and EBITDA of £2.7m this is MASSIVE.
Does anyone know what it is??? Anything at all about it?
Nothing happening. Ever?
That was a comprehensive trading update in July - I really like that attitude. Very quiet trading and even quieter board here. They look to me to be doing the right things. I suppose without news it will remain that way, and the SP will continue to drift. [I wrote this yesterday, went to another computer and forgot to post! Today's looking more exciting...]
But the next news is due 7 September 2020: full-year results for the year ended 30 April 2020. I think they could be really positive - Covid-19 should be positive for Tungsten, and they seem to me to have the right attitude and be in the right position, to take advantage. "New sales billings4 of £4.0 million were flat to prior year, although the second half run rate accelerated by 35% following our investments to strengthen our sales capabilities". They traded profitably in the first 2 months.
Top up opportunity till the results RNS? Any thoughts? Trouble for me is I'm quite high here already. Spread is massive. Spiking down today on 3 sales of 7,500 shares - someone is selling down or getting out.
Could be exciting.
Topped up on first of April @29.9.
N.b. director buys around that time. I’m glad I was in before, but that doesn’t change that thisIs a COVID-19 play.Big jump today, against the run of play especially for coffee chairs. That should read Covid shares! :)
In a sea of red this is almost the only blue. Sadly my holding here is very small. I looked through the RNS update and could barely find a bad sentence.
"Trading remains in line with the guidance outlined in the Q3 Trading Update, issued on 25 February 2020, for the financial year ending April 2020. We continue to progress new client and partner contracts and are in the final stages of a number of such discussions. The board remain confident that as the company nears the completion of this year of transformation, it remains well positioned for future growth next year.
In considering the impact of the ongoing COVID-19 pandemic the Board believes that the company is well placed to navigate through the disruption, due to over 90% of current revenues being recurring and under multi-year contracts through our subscription based model. We continue to manage cashflow and receivables closely. As at 10 March 2020 we had approximately £2.2m net cash. We have significant headroom with a further £3m available under our £4m committed Revolving Credit Facility.
In the last week, we have been contacted by a number of our largest global buyers who are looking to increase their electronic invoice volumes through us as part of their response to the global pandemic. This action is being driven by an urgent concern that office closures mean many paper documents can no longer be effectively distributed and processed by a widely dispersed home based workforce. These buyers include a number of fast moving consumer goods companies who are providing products in high demand right now, and who see Tungsten as having the perfect online digital platform to meet their current needs.
The Board believes this represents a positive and significant development for Tungsten, albeit that certain buyers may in time suffer from a temporary reduction in invoice volumes as a result of supply chain disruption. We continue to closely monitor transaction volume impacts on a client by client basis.
Andrew Lemonofides CEO commented
"I am confident that Tungsten has the resilience to support our customer base globally in this difficult period, and the ability to provide a key solution to the forced shutdown of clerical paper driven offices. We are continuing to operate an uninterrupted service, utilising remote working across our global workforce, and we are currently not seeing any downturn in invoice volumes. We have a strong value proposition and are able to implement our software and solutions remotely, with our cloud based technology and highly skilled workforce."
They say never a good sign ?
What is up with 4m shares traded today?
I sold out at 40p last December (loss) and moved on elsewhere. Good luck to the diehards.
Usual load of corporate smarm upon the departure of an Exec. despite the probability they are secretly cursing him.
Perhaps they go to a special school?
I'm not. Wasn't Truell one of the causes of the company's present malaise?
13% picked up by disruptive capital/ Edi Truell in January Didn't he found this business originally, presumably he wants his ball back? That means 20% picked up in recent months by new investors, suprised the share price has barely moved.
Would that have been Chelverton: declared today (RNS) at 5.35%? Zero to hero. That's very good, and validates/comforts me for my recent buy in! I like Chelverton. Am topping up a little. It's down 4% today on the massive sales of £118.80!
More share activity today but is it leading anywhere?
?
And up the hill the share price marches...