||EPS - Basic
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|Software & Computer Services
Arcontech Share Discussion Threads
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|Hi Multi & all, I've been a shareholder for a few years - before consolidation, my initial purchase was in error. Had then to do research which made me surprised how low the company was valued (having screens next to, and being a competitor of the multinational)So when the share drop to its lows, I sold other stuff to buy more. My view point is, ArC competitors could buy the company out right from petty cash. My share is not for sale.|
|New share price highs + above average volume = bullish/uptrend.
Good time to average upwards !|
|A couple of buys just before the close (I think the 5k reported as a sell is a buy) will hopefully get us off to a positive start in the morning|
I think that they will come up with a 1p dividend per share (which would mean around £125K in total and around 4x dividend cover). I agree that they are very conservative and hence 1.2p/share may be pushing out the boat !
With dividend allowance/exemption now reduced to £2k / year, this is unfortunate timing, but nevertheless delighted that we are making excellent progress. I still think that with the kind of recurrent revenue stream, sticky customers, £2m in the bank, growing profitability - we remain a small but juicy takeover target.
Someone is keen taking chunks of 25k at a time :)
Good luck all !|
|another 25k late trade just gone through, this time @ 61.8p|
|From half-yearly results (6th March 2017):
"Although no interim dividend is proposed, subject to continued growth and meeting expectations for the business, the Board will review the payment of a dividend in respect of the full year ending 30 June 2017."
I'll take that as a close to a promise as they can give.
The level of maiden dividend is anyone's guess, my guess is 1% as they are very conservative.|
|Fully agree isa2020 - welcome on board, haven't see you here before :)
Volumes have usually been very low and liquidity poor so any buying interest moves the share price quickly. However, the share price action yesterday and today (so far), seems to be unusual...just my gut feeling, as I have been in ARC for over 3 years now.It is a steady and solid performer.
Good luck all !|
|One of few business in AIM making profit year on year with cash in bank, possibilities of dividends|
|Sudden interest and share price moving sharpish - what's going on ??|
|Yes - nice to see that move today after the 3.5 month consolidation around the 48-54p level.
Judging from the volume chart in the header, the higher volume days have become more frequent of late too.|
|Today's new share price high strongly supported by volumes is all the more interesting in the context of good share price gains over the current financial year.
As it is not far off the financial year end, one would anticipate some selling pressure as investors would want to sell and lock in capitals gains to the extent of the CGT limit.
Paradoxically, we have gone up ! ARC is not a leaky company so I find this intriguing. There was also a single 25000 shares transaction, which in ARC terms is unusual. So won't rule out some Director/PMDR buying and a RNS to follow.
All said and done, good to see quite a strong breakout from the recent trading range.
Good luck all :)|
|Great to see another new share price high on relatively small volumes. Low liquidity stock and still very undervalued IMHO - I would say that wouldn't I ;
Good luck all ! More to come !!|
|Yes, thanks again multibagger...all looking good for a rerating in the coming weeks/months.
Net cash is over 30% of current market cap too.|
Great results, great prospects and well managed. Roll on the full year results!|
|Finncap (corporate) research note: 06 March 2017
Arcontech Outperformance continues
Arcontech has delivered 80% of our previous FY17 adj. PBT estimate in a strong H1, driven by strong underlying sales growth of +20%. We upgrade both forecasts and target price to reflect this progress; FY17E adj. PBT moves to £0.4m (£0.3m) and our target price to 70p.
Underlying growth – when adjusting for a terminated contract that benefited 1H16 (announced Mar-15), h-o-h sales growth was an impressive c.20%, with the largest contributors being contract wins announced in September and December. Consequently, annualised recurring revenue increased from £2.0m (at the beginning of H1) to £2.3m by period-end (+15%).
Costs stable – excluding SBP and (minimal) D&A, admin costs remained at £0.9m, such that £0.2m of EBITDA was delivered at a 21% margin. We see scope for margin expansion as Arcontech continues to grow given that incremental sales are c.100% gross margin and all revenue is recurring in nature, which means only a light sales force is required.
Upgrading forecasts – FY17E sales increase from £2.1m to £2.3m and adj. PAT from £0.4m to £0.5m. We highlight that this assumes minimal new sales bookings in H2 and also a £100k h-o-h increase in opex to accommodate for an increase in S&M. Because of these prudent assumptions, we believe that risk is on the upside. We only make minor (but positive) adjustments to FY18E at this stage, such that assumed top-line growth is 9% (below the current trend) and therefore also leaves scope for outperformance.
Significant runway for growth – over the past two years Arcontech has developed a new desktop software solution, dissimilar to any of its existing products which is in proof-of-concept trials with five Tier 1 banks. Although none have signed up on commercial terms yet, the quality of these customers speaks volumes for the potential value and opportunity for this product.
Increase target price to 70p – we continue to believe that Arcontech’s current valuation does not adequately reflect the company’s qualities; excellent revenue visibility (c.100%); strong cash conversion (>100%); growth (+20%); and scope for margin expansion. Because of these qualities and earnings upgrades, we raise our target to 70p: 3x FY18E EV/Sales and 14x P/FCF.|
|Looking at the previous 2 years (26/03/15 & 06/03/14) timing of the half year report seems a little random!
Seems to have been a mini rush for the exit here in the last few days but looks to have settled on a support level for the moment.|
|If last year is anything to go by, we should get a six month trading update in the coming week. Monday the 20th Feb, would seem to be as a good a day as any !
And if, just if, we get a maiden dividend announcement in the region of 1.1 to 1.2p (given that ARC are ultra conservative), I would be delighted. Won't be then surprised for us to motor by 5-6p. A rough guess would expect the cash position to be very healthy as well and possibly in the region of £1.4m+
Roll on Monday :)
Good luck all !|
|Don't understand, what would be gained from selling 8 shares|
|Another small tick up...keep it coming guys ! :)|
|Looks like we have hit a new share price high and backed by volumes....always a strong bullish sign in my book :)
Good luck all !|
|Look better when the results are out shortly IMHO.
Tightly held share and will rocket on higher volumes. Happy days!|
|Looking good now m-b after another 5k purchase|
|Three decent sized trades since 30 Jan - about 31k in total.
Not massive but more than usual for ARC....wonder if it is in expectation of a good trading update this month ?
Good luck all :)|