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Great news mate....some nice profit will come your way in the future...
Morning mate onwards and upwards....
WO 190 TIN 45
Morning all will be nice to finish on a high today gl all...
Bought in yesterday ...company is finally well placed to succeed good luck all....
Still holding strong here....good to see a descent rise here yesterday and hopefully this will continue on the lead up to results next month...
Group Results Highlights
· Revenue growth once again strong at 27% reaching $32.4 million (2018: $25.5 million)
o Total franchise System-wide sales (franchisee gross sales from which royalty income is derived) and corporate-operated sales of approximately $125 million
o Sales footprint across the United States and in UK, Australia, and Canada creates distribution platform for matrix of residential, commercial, and municipal products and solutions
· Profit before tax growth exceeds revenue growth at 34% reaching $2.4 million (2018: $1.8 million)
o Profit before tax adjusted for non-core costs (non-recurring, amortization, and share-based payments) grows 34% to $3.4 million (2018: $2.5 million)
· EPS (fully diluted) grows 22% to 11.1 cents (2018: 9.1 cents)
· Balance sheet strong at 31 December 2019
o Cash: $5.3 million
o Cash net of borrowings: $2.0 million
Good show of confidence by AW...Looking forward to future developments here....
impressed how this held up yesterday....today will be intresting good luck all...
Repositioned my portfolio..and turned a few to cash..but haven't done anything here...still believe this will come good as long as I haven't died from old age first lol...
Still here for my sins lol...
Yep sure all will be well...its the fine tuning that takes the time on a project this big,but we will get there and as you say were not a one trick pony either good luck all....and you TRO.
Not me either ....Holding strong but we need some good news soon,.in excess of 26m shares now...but I must be honest my finger has been near the sell button a few times lately.
Im happy enough..directors taking part in placing and they can start moving forward with the new prospect......and we will be getting gold out of the ground later this year from existing prospect which will bring revenue good luck to us all......
In the year ended 31 December 2019, Lab42 reported unaudited revenue of £1.4m.
Carl Cavers, Chief Executive Officer of Sumo Group, said:
"Lab42 is a super business and we are delighted to welcome Ed and his team to Sumo Group and to the Sumo Digital family of studios. The opportunity to buy Lab42, a business which is highly respected in the industry and well known to key members of our team, was both timely and compelling. The addition of a 29 strong, established, proven and talented team will help keep our organic growth ambitions on track, through the COVID-19 pandemic, which, as previously reported, has created some recruitment challenges.
"Lab42 also brings the exclusive licence to use the World Snooker Tour brand which supplements the Group's strengthening Own-IP portfolio, along with some exciting new client relationships and opportunities."
"Sumo Group continues to operate well through the unprecedented COVID-19 challenges and the team at Lab42 has also successfully transitioned to working from home. The video games market is very strong and we are seeing some great opportunities to work on new games.
"I am very grateful to our team for their great work and continuing resilience in challenging circumstances and look forward to meeting the Lab42 team in due course as the lockdown eases."
SUMO GROUP PLC
("Sumo Group", the "Group" or the "Company")
AIM: SUMO
ACQUISITION OF LAB42 LIMITED
Sumo Group, theaward-winning provider of creative and development services to the video games and entertainment industries, is pleased to announce that it has acquired Lab42 Limited ("Lab42"), a cross-platform work for hire studio, providing co-development and full game development services, for a total cash consideration of $0.6 million.
The acquisition supports Sumo Group's growth strategy through increased capacity, adding 29 people, and a strengthened presence in the talent hot spot of Leamington Spa. Lab42 also adds a number of new client relationships.
The business and its Managing Director, Ed Blincoe, are well known to the Group, in particular to Sumo Digital's Managing Director, Gary Dunn, and the team at Sumo Digital's Leamington Spa studio, which opened in 2019.
The Lab42 studio has worked on 17 projects for console, PC and mobile, since it was established in January 2015. Past and present clients include Sega Europe Publishing, Klei Entertainment, Aspyr, Ripstone, Dovetail Games and Payload Studios.
Lab42 holds an exclusive licence to use the World Snooker Tour brand and was sole developer on the photo-realistic, sports simulation game Snooker 19 for all major consoles and PC, published by Ripstone. Lab42 is continuing development on World Snooker products and expects to launch additional games on new devices later this year.
Other well-known titles on which Lab42 has worked include Yakuza 0 and Yakuza Kiwami, Football Manager Touch 18, Sonic Mania, Terratech and Fishing Sim World.