Interim results due in early November26 Oct 2022 14:57
?Market cap £19 Million : of which £5.3M is net cash.
Share price 115p - 120P
Triad. Experts in technology-enabled transformation.
Growth market, software sector.( 24%)
Triad Group Plc reports real profits not those presented by so much of the industry in EBITDA format which in my opinion bends accounting rules be it legally, to the extreme.
Triad is an SME : these are being favoured, (policies), over large companies, by the U.K. government to obtain contracts issued by the state. The government target is to award 33% of all government spend to SME”S increasing to 50% for technology spend.
SME : Small and medium enterprises.
Company carries no debt
Permanent staff numbers have increased by 100%
Total organic growth to date, without the inherent risk of buy and build, that has seen shareholders in two completing companies lose 80% of their initial investment recently.
Triad spreads the risk working in : not for profit, government, and the private sector.
Triad has a premium listing on the LSE This is a top tier listing , with the greatest regulatory regime.
Profits grew 70% in 2021 - 2022
Dividends doubled in the last two reporting periods, yields in the software sector are generally tiny 1% -2 % if your lucky Triad Group on the other hand currently offers over 5% in dividend income.
Each 1P in dividends costs the company £168,000. This gives ample room for extremely fast dividend growth because the company has so few shares. (£16.3M issued)
Established 33 years.
Lean overhead structure. Directors reported a one off bonus, paid last year of £300,000 which they used to purchase Triad shares.
In addition Perpetual Director buying across the entire board
Results published in record time after the half and full year.
Partnered with Stratis to implement Blockchain solutions
Partnered with Workpoint 365 who themselves are targeting 500% growth over the next five years.
Partnered with Microsoft having obtained 7 gold certifications.
Triad have been incredibly successful in winning positions on U.K. government framework agreements. A massive achievement in itself. You can’t bid for contracts unless your first successful to gain a place on a framework .
Net cash held within the accounts in excess of £5 Million .A proportion of this is required for working capital however I don’t think a special dividend or similar should be ruled out for the excess in the future.
Gross and net margins are growing.
A PE ratio considerably lower than the sector 16.4 (24) 70% growth is currently not being rewarded as witnessed by the PE Ratio of 16.4.
Winning industry awards.
Triad Group has the ability to win some very serious contracts over the next few years, from the private sector and particularly the U.K. government.
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