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It's part of their offering through the associations trade body, the national housing federation.
https://www.housing.org.uk/offers-and-benefits/services-and-benefits/castleton-technology-plc/
We're waiting for news on the larger cloud based contract awards.
But there is another side to things. Tony Smith is blogging lately about the need for suppliers to provide cost effective technology for smaller housing associations, who don't want/can't spend like larger associations but still need the basic functional, scaleable technology. Apparently some suppliers won't even consider them.
Castleton Community seems to fit the bill.
https://www.castletonplc.com/business-essentials/community/
Or whatever amount now. Doesn't really matter. They're taken up and starting again.
£1.8m plus changed hands at 75.5p. Report to market by a party concerned.
Director/PDMR Shareholding
Castleton Technology plc (AIM: CTP), the software and managed services provider to the public and not-for-profit sectors, was notified today that Paul Gibson, Non-Executive Director of the Company, purchased 10,000 ordinary shares of 2 pence each in the Company ("Ordinary Shares") at a price of 66.0 pence per Ordinary Share.
Following the purchase, Mr Gibson is beneficially interested in 10,000 Ordinary Shares, representing approximately 0.01% of the Company's issued share capital.
gone live with a new self service App. This goes alongside the Alexa chatbot ( Housing Solutions association have been installing wifi in tenants' homes ) as a means of customer control to administer accounts, repairs, etc., and shifting that work from association call centres, saving money.
https://www.castletonplc.com/news/mysbha-customer-app-goes-live/
Wish away, but I won't wish you luck! It'll likely drop back from wherever it gets to though, unless one or more of those tenders makes their way into RNS'd contracts.
Castleton has invested in several areas of the business over the past few years. And much of that investment is having the desired results: Deeplake (see Castleton Technology acquires Deeplake Digital) has now been integrated into Castleton’s solution and is “working well”; its Indian development capabilities are contributing as expected; and its Castleton Community Solution, designed to be used by smaller housing associations, has been successful in winning a place on a National Housing Federation framework agreement as preferred supplier (available to more than 800 housing associations).
Castleton has now accounted for a reduction in hardware revenues in its outlook. And is confident that it can achieve its target for professional services for the year. The total contracted backlog is up 5% year-on-year compared to September 2018 (to £30.1m) and is expected to build. The consolidation of its software and managed services business under a ‘one Castleton’ structure (from 1st June), streamlining sales and delivery, is expected to start having more of a positive impact on cross-selling and upselling. There are still some risks to future performance - and we will be keeping a keen eye on the client retention rate which seems to have suffered - but Castleton has been working to mitigate against them. And the fundamentals of the business remain strong.
Castleton H1: highs and lows
Georgina O'Toole, 09:29, 05 November 2019
Castleton Technology logoThe highlights and lowlights of Castleton Technology’s H1 were previewed in the company’s trading update last month – see Castleton H1 behind expectations. Having spoke to management this morning, we have a clearer understanding of what’s gone on behind the numbers.
As expected, revenues decreased by 10% to £11.6m, with organic revenues declining by 13%. But within that, recurring revenues increased from £7.0m to £7.6m, comprising 66% of total revenues (vs. 55% in the comparable quarter a year ago). Reported revenues represented a significant reduction on previous expectations: £2.6m lower on hardware, and £1.6m lower on professional services. Profitability and cash conversion were also negatively impacted.
During the period, hardware revenues were impacted by a handful of clients abandoning their hardware refresh and to, instead, opt for cloud technology. In one example, Castleton had previously earnt £500-600K in hardware sales in a year and, though it won the replacement cloud delivery contract, that new-look contract is worth £1m over four years… in other words, a c50% decline in in-year revenues. Of course, this is also the reason for the welcome increase in recurring revenues.
Meanwhile, in professional services, Castleton started the year with a strong backlog of project work and good visibility. However, as it entered Q2, several clients decided to spend some time embedding their already-purchased solutions before embarking on new project work; it seems that the older generation of tenants utilising Castleton’s digital repairs system have needed a little more hand-holding to get to grips with the technology than had been expected. The result for Castleton was too many consultants on the bench; the company as now restructured to reduce the number of billable consultants.
And Mr. Dickinson's buy today puts some insider personal cash behind the RNS and FinnCap positive forecasts.
No retraces for me, thanks! If Castleton can achieve the £5m PBT forecast for this year today, then that will put this change of market conditions to bed, and set up to take advantage as now. We're still waiting on the tenders, which is a drawn out process. We weren't told about one of them, so I hope they will RNS them as contracts are signed.
I haven't watched the video yet. The printed results add little to what was already known to us, That one off revenue decreased due to changes in market conditions as associations mull over their direction of travel, and the aim is to replace it from longer term cloud based recurring revenue. It looks as though customers are moving towards that now, with 3 such contracts in the period and tendering for several more - which will presumably give rise to the material increase in revenue and so on during this current second half, alongside continued cross selling.
Whatever that £54k deferred publication trade amounts to, it's effects were limited to retaining a bit of blue on the ask since midday. It's been absorbed into the works.
Bango opens channels to super-spending Koreans
Duncan Aitchison, 08:53, 30 October 2019
LogoFast growing Direct Carrier Billing (DCB) company Bango has signed a partnering agreement with South Korean big data digital advertisement specialist NHN ACE. The arrangement seeks to enable global app developers to better target their offers and promotions at high value internet users on the Peninsula where mobile devices dominate online usage.
The audiences that become available through this agreement are available on Bango Marketplace. Launched just eight months ago, this developer-focused product has built a strong pipeline of new business to which the tie-up with NHN ACE should only add.
Cambridge-based Bango has been cutting quite a dash on the world stage of late. End User Spend (EUS) going over its platform more than doubled to £465m yoy in the six months to June 2019. This rapid growth maintained the five-year trend of more than 100% p.a. increase in EUS. H119 revenue was up 64% to £4.3m and EBITDA moved into positive territory for the second quarter if this FY (see here). This British success story is definitely one to watch.
That goes along with FinnCap's positive outlook and £1.30 "in the near term the contemplation of moving to the cloud has changed customer buying habits and slowed decision making – meaning the long-term growth opportunities from recurring revenue growth are stronger than ever, but the instant fillip of one-off revenue, which boosted prior years, is not yet offset. "
All 3 "material" mind. They must have sight on that.
Haha. It's one of those things they call a no brainer on these boards when you /FinnCap put it like that.
And, anyway, although insufficient to meet previous expectations, "the Company is confident that revenue, EBITDA and cash generation will show a material improvement in the second half of the year."
£2.8m+ just changed hands at 56.5. That should put a bottom under it.
On dummy trades, those 56.5 appear to be buys.
Mr.Dickinson felt the need to address the troops yesterday, who are no doubt realising their incentives have just gone up the Swanee for this year. Stick together girls - we're well set up! And all in the same boat.
Castleton Technology
@CastletonTech
·
22h
Hearing from our CEO
?@deanrdhpool1?
today, kicking off H2 for Castleton, driving our strategy and sharing our latest developments and internal enhancements with our staff ?#workingtogether? ?#ukhousing? ?#tech?