Member Info for rivaldo

H1 results are poor as already flagged - but PEG are still profitable. Hopefully they're already baked into the share price, with the m/cap now at just £11m, but that's probably being optimistic!

Good to see that the group generated £770k of positive operating cash flow - a big rise in debtors since the year end is mainly behind the net decline.

Surprisingly, given the already flagged delays in Rail tendering, Rail has performed well, along with Traffic, and the main culprit has been Defence.

There continue to be reasons to be positive, including the order book and the likely return of tendering activity and large contract wins in Rail and Defence, but until then the downgrade in H2 expectations means the short term will be dull.

Both Numis and Citi are positive - it's ironic that short-term investment in growth to meet increasing demand and raise margins going forward should be met with a reaction like yesterday's:

"1226 GMT - Keywords Studios will benefit from its expanded capacity in the second half after investing to satisfy strong demand in the first half, Citi says. The Dublin-based, London-listed provider of services to the videogame industry says it has started the second half well and expects continued organic growth, although at a lower rate than in the first half, and stronger margins. In light of increased demand across all its service lines, the company pulled forward its capacity expansion plans and invested in recruitment, training, IT and human resources, Citi says."

"1326 GMT - Keywords Studios was hit by lower margins in the first half, but the issues behind that are expected to be temporary, Numis says. These margins headwinds should start to abate in the second half and be gone next year, as they are the result of costs associated with an unexpectedly rapid increase in staffing, higher operating expenditure and an inherited underperforming contract, Numis says. The Dublin-based, London-listed provider of services to the videogame industry should benefit from structural industry growth, further outsourcing and value-creating acquisitions, the brokerage says."

Yet another buyback - a third lot of 100,000 shares at 30.75p. MWE are showing their confidence here:

Https://uk.advfn.com/stock-market/london/mti-wireless-edge-MWE/share-news/MTI-Wireless-Edge-Limited-Transaction-in-own-share/80758367

Terrific news. GAN's strategy is working perfectly with simulated gaming giving them a big head start over the competition.

And the quality of their work must be high enough that their clients want more.

I do like this paragraph, indicating the potential for expansion to other states via Jack:

"JACK and its affiliates own and operate gaming properties in Cleveland, Cincinnati, and Baltimore in addition to racing facilities in Ohio and Kentucky. The complete JACK portfolio includes over 4,000 team members, 40 bars and restaurants, 375,000 square feet of gaming space and generates more than $800 million in revenues."

Richard Sneller has bought around another 1m shares. He's now up to 12.4m shares, or 9.1%:

Https://www.investegate.co.uk/surface-transforms--sce-/rns/holding-s--in-company/201909181050028072M/

More cash in the bank and a decent profit.....but 10p is a steal. Particularly as today's RNS states:

"The APC Group continues to trade in line with the APC Directors' expectations".

Better hope for a competing offer to come in I suppose.

...and another 100,000 shares bought back at 30.75p:

Https://uk.advfn.com/stock-market/london/mti-wireless-edge-MWE/share-news/MTI-Wireless-Edge-Limited-Transaction-in-own-share/80749372

Liberum retain their 1700p target.

The results were solid, and the outlook for H2 is decent, with revenues at the top end of expectations and profitability essentially unchanged.

Another small-ish acquisition today too.

KWS have the capacity to make much larger acquisitions. If I'm not mistaken VMC was the last large acquisition? It's about time for another one, which would make all the difference to expectations.

All the investment and new facilities being put in place this year will lead to greater expansion and bigger margins from next year. I'm happy to continue to hold and play the long game in a market leader in a sector which will only grow and grow.

"The Company recently held management presentations with a number of interested parties and is expected to receive feedback by the end of September 2019."

The headline H1 figures were poor as expected, but (1) there's so much seasonality here that H1 is largely irrelevant, (2) this is a known period of investment and additional costs, and (3) it's correct to strip out the the non-recurring revenues from last year for valid comparisons.

So underlying revenue growth was year on year was actually a quite respectable 7.7%.

Repeatable revenues are expected to be 80% of total revenues this year, and forecast to rise to 90% over time. This will be incredibly attractive to prospective buyers.

I also note the mention of TE2 in relation to its roll-out and implementation in 3 more cruise ships. And who is the "Leading hospitality operator - mobile app development and select capabilities"?

It would be great to finally see some details on the installation at Universal's Volcano Bay resort - Tapu Tapu is now getting repeated rave reviews after fixing the inevitable initial implementation issues.

Another acquisition for cash, this time £1.7m initially with the £1.5m balance again dependent on performance. Liberum have issued a broker note this morning and again reiterate Buy with an unchanged target price of 568p:

Https://uk.advfn.com/stock-market/london/afh-financial-AFHP/share-news/AFH-Financial-Group-Plc-Acquisition-of-Broadleaf-F/80749410

""This acquisition follows the recent acquisitions of Mulberry Independent Financial Advisers and AE Garment, bringing the total committed spend to GBP10.4 million since the Convertible Loan Stock placing in July 2019. The acquisition has been completed on a similar attractive multiple to previous transactions and extends the AFH footprint in the North West of the UK."

I bought some of these earlier today for the first time on the dip.

This seems like a company forced down to an artificially low valuation by a seller, whereas on a £5.6m m/cap ITX appears to have lots of multi-bagging potential, is increasing revenues strongly, has a decent £1.5m cash pile with perhaps just a need for small top-ups, has an important environment-friendly angle and has an extremely impressive partner list.

One to hold for potentially a few years, with perhaps dramatic rewards coming either near-term from contract/partner announcements or over time from progress in revenues and towards profitability plus news of progress with blue chip partners.

For clarity I sold all my shares at around the 150p mark recently. It's primarily about nervousness around the markets and general investor sentiment, and therefore protection of profits from an almost three-bagger which was one of my larger holdings held completely in my ISA.IDEA as a high-quality company is on a very high P/E. I'm somewhat concerned that it now has a combination of cost growth from all the global expansion it's undertaking, together with a slowdown in corporate decision-making reported in certain sectors. IDEA have not reported any new contract wins on their usually excellent web site for almost three months now.The possible dilution/need for funding as per a recent chat with the CFO by "leavers" on another bb is also a downer.So I can't see much upside at present, but can see a sell-off on below-par or average trading.Which probably means they'll be bid for tomorrow at 190p :o))However, the recent large sale of shares by the CEO after an exercise of options today is also interesting timing considering the markets, and it certainly won't help sentiment much.Good luck all. IDEA will remain high on my watch list and I may rejoin if my thoughts are proven wrong. Which may well be the case.

The appropriate word for the growth would be "exponential"!

Https://www.investegate.co.uk/gan-plc--gan-/rns/august-2019-internet-gambling-growth-for-pa/201909170712055686M/

Good results, and in particular very bullish looking forward - the use of the word "very" together with confident is a subtle indicator, as the wording of these RNS's is usually considered pretty carefully:

"The board remains very confident in delivering growth in the full year 2019 and in the years to come, in-line with market expectations"

KAPE have £30m cash against a £105m m/cap, so the net £75m EV plays an annualised $11.6m EBITDA - and this with no growth built in at all, which is obviously too conservative.

The growth in retention and subscriber numbers is great to see, and the transition to SaaS is going well.

There have been a number of profit warnings elsewhere this morning in AIM companies. Given its strength (balance Sheet and otherwise) and cyber-security presence and potential, KAPE appears to be one of the safer options on the market, as well as offering much growth potential.

Good to see MWE continuing to buy back, this time another 100,000 shares:

Https://uk.advfn.com/stock-market/london/mti-wireless-edge-MWE/share-news/MTI-Wireless-Edge-Limited-Transaction-in-own-share/80739536

Now up 13% today, and another 50,000 just reported bought at the full 22p offer.

100,000 shares just reported bought at 19.49p/19.5p have made a nice impact.

From Allenby Capital this morning:

"MTI Wireless Edge Ltd* (MWE.L, 29.5p/£25.8m)
Contract win: Scope for growth (16.09.19)

MTI Engineering Ltd, MTI’s expert consulting and representation division, has signed an agreement that includes an initial order valued at c. $1 million, for the supply of Hi-Power Microwave Terminations to an Israeli customer over the next 16 months.

Management believes there is scope for the order size to more than double in the next two years, as the customer has designed its system around MTI’s component.

No change to forecasts or 38p/share fair value.

Allenby Capital comment: The contract demonstrates further the value of the company's diversified strategy and the benefit of the 2018 merger with MTI Computers Software and Services (1982). MTI Engineering is a well established consulting and representation business that acts for more than 25 companies across the microwave, telecoms and data communications sectors. The division enjoyed a standout performance in H1 with revenue +44% to $5.6m as projects where it has designed solutions have started to mature. No change to forecasts or 38p/share fair value."

Aldi have announced a £1 billion investment programme, opening another 100 stores across the UK.

They've also been increasing their percentage of UK-sourced food.

All of which should be very good news for VLE:

Https://www.retailgazette.co.uk/blog/2019/09/aldi-double-stores-sales-smash-11bn/

There's a full transcript of GAN's results conference call here FYI:

Https://finance.yahoo.com/news/edited-transcript-gan-l-earnings-014416765.html