Tikit Share Discussion Threads

[powereddrones] 10/11/2023 17:57

Revealed: TikToker who threw herself to the floor screaming to 'get seen in UK A&E' is a serial prankster who films herself 'stealing' from other people's shopping trolleys and calling confused strangers her 'husband' in viral stunts for her channel

[lennonsalive] 10/4/2023 20:07

Wouldn't have that Chinese junk on my phone if you paid me too

[powereddrones] 10/4/2023 20:00

Ok this is finance related

[powereddrones] 10/4/2023 19:56

BOLD GLAMOR

[powereddrones] 10/4/2023 19:51

This is the biggest thing since "Bitcoin"

[orange1] 24/1/2013 09:18

Within 14 days of 18 jan.

[alter ego] 24/1/2013 09:15

anyone know when to expect proceeds of the takeover? I'm still waiting for mine.

[wjccghcc] 14/11/2012 21:39

Not recently. Too much of a lumpy business. Congrats on your timing.

[nhb] 14/11/2012 17:14

Congrats WJCCGHCC. I bought @ 3.32 about 6 weeks ago. Have I seen you around on the Hydro threads?

[wjccghcc] 14/11/2012 08:33

Yup. Had them for ages. Unfortunately only a mid-sized holding. Would never have guessed BT would bid for them.

[nhb] 14/11/2012 08:28

Nice surprise! Anyone else in?

[alter ego] 14/11/2012 07:56

takeover announced - BT, would you believe it?

[theophilus] 02/11/2012 15:04

I seem to have forgotten about this one. So the following is somewhat dated.

Tikit Group PLC

12 September 2012

For release 7.00 am on 12 September 2012

Tikit Group plc

("Tikit" or "the Group")

Interim Results for the six months to 30 June 2012

Tikit, a leading independent provider of IT software, solutions, consultancy and services to legal and accounting firms in the UK, North America and mainland Europe, today reports interim results for the six months to 30 June 2012.

Key Financial Results (presented under IFRS)

2012 2011 Change %
Revenue GBP13.4m GBP13.3m -
Profit before tax(1) GBP2.4m GBP2.3m 5.5
Statutory profit before tax GBP1.7m GBP1.6m 8.5
Earnings per share(1) 12.8p 11.8p 8.5
Basic earnings per share 9.5p 8.2p 15.9
Interim dividend per share 3.0p 2.5p 20.0
Cash generation from operations GBP2.7m GBP2.4m 13.8
Net cash at period end GBP6.6m GBP4.1m 62.2
--------------------------------- --------- --------- ---------

Highlights
-- Profit before tax(1) increased 5.5% to GBP2.4 million (H1 2011: GBP2.3 million)
-- Improvement in operating margin(1) to 17.9% (H1 2011: 17.1%)
-- Revenue generated from sales and support of Tikit-owned software increased 7.5% to GBP4.3 million (H1 2011: GBP4.0 million)

-- Earnings per share(1) up 8.5 % to 12.8p (H1 2011: 11.8p)
-- Interim dividend up 20.0% to 3.0p per share (H1 2011: 2.5p)
-- Encouraging demand for eMarketing and Carpe Diem suites
-- 500 user multi-year outsourcing contract win in first half
Commenting on the results, Mike McGoun, Chairman, said;

"The Board is pleased with the progress that the Group is making to increase revenues from higher margin Tikit-owned software and the investments made in the first half of the year in sales and marketing are expected to result in even higher sales in the second half. In addition, Tikit is well-positioned to capitalise on the increased enthusiasm of law firms to outsource their IT requirements, where larger, multi-year contracts would add significantly to our future recurring revenues. Since the end of the half year, trading has continued to be in-line with the Board's expectations. "

(1) Before amortisation of acquired intangibles and share-based charges

Presentation to Analysts

An analyst briefing will be held today at 10.00 a.m. at the offices of Tavistock Communications, 131 Finsbury Pavement, EC2A 1NT.

For further information:

Tikit Group plc
Mike McGoun (Chairman) 020 7400 3737
David Lumsden (Chief Executive)
Mike Kent (Finance Director)
Investec
(Nominated Adviser and Broker)
Andrew Pinder 020 7597 4000

Tavistock Communications 020 7920 3150
John West

About Tikit

Established in 1994 and subsequently listed on AIM in 2001, Tikit is a leading independent provider of IT software, solutions, consultancy and services to legal and accounting firms in the UK, North America and mainland Europe. It has more than 1,450 clients, including 92 of the UK's top 100 law firms, 61 of the top 100 US law firms and 18 of the top 50 UK accountancy firms. The Company employs around 200 people from four offices in the UK and offices in each of Spain, France and North America.

Tikit combines an unrivalled understanding of the technology needs of legal and accounting firms with a broad portfolio of software, solutions and services to match those needs. Tikit's solutions and services span the IT spectrum and include financial and practice management, content management, document production, customer relationship management and infrastructure services.

Tikit is listed on the Alternative Investment Market (AIM) of the London Stock Exchange (AIM:TIK).

CHAIRMAN'S STATEMENT

Introduction

I am pleased to report that the Group has increased profits during the six months to 30 June 2012 over the same period last year and has remained strongly cash generative during the period. There has been some improvement in market conditions during the first half and the level of interest in Tikit-owned software continues to increase. This software generates higher margins and as previously indicated we have continued to invest in its development and have increased expenditure in sales and marketing activities, particularly in North America.

Results

Total revenues of GBP13.4 million were slightly ahead of the previous year and reflected an improved mix, with total revenues from Tikit-owned software increasing 7.5% to GBP4.3 million (H1 2011: GBP4.0million). Tikit-owned software now represents 32.2% of total revenue (H1 2011: 30.0%)

Profit before tax(1) increased 5.5% year-on-year to GBP2.4 million (H1 2011: GBP2.3 million) and our operating margin improved to 17.9% (H1 2011: 17.1%). Earnings per share(1) increased 8.5% year-on-year to 12.8p (H1 2011: 11.8p), reflecting the increase in pre-tax profit and reduction in the effective tax rate to 24.1% from 26.6%, arising from a decrease in UK corporation tax rates. Statutory profit before tax increased by 8.5% to GBP1.7 million (H1 2011: GBP1.6 million), with basic earnings per share up 15.9% to 9.5 pence (H1 2011: 8.2 pence).

Our balance sheet remains strong. Net assets at 30 June 2012 were GBP18.7 million (H1 2011: GBP16.9 million), with net cash balances up GBP2.5 million to GBP6.6 million (H1 2011: GBP4.1 million). The business continues to be cash generative with a net cash inflow from operating activities in the period of GBP2.7 million (H1 2011: GBP2.4 million), representing a conversion into cash of 108% (H1 2011: 98%) of operating profit before depreciation, amortisation and share-based charges. Cash outflow for dividends was GBP0.77 million in the period (H1 2011: GBP0.60 million).

(1) Before amortisation of acquired intangibles and share-based charges

Interim Dividend

The interim dividend has been increased by 20.0% to 3.0p (H1 2011: 2.5p) andwill be paid on 12 October 2012 to shareholders on the register at 14 September 2012. This underlines the Board's continued confidence in the cash generating qualities of the Group.

Operating Review

Recurring revenues

Total revenues from support and outsourcing are similar year-on-year at GBP7.6 million (H1 2011: GBP7.7 million), with support of Tikit-owned software generating GBP3.3 million (H1 2011: GBP3.2 million). Recurring revenues accounted for 57.1% of total revenues. Our reseller agreement with LexisNexis ceased in May 2011 and it is pleasing to note that we have replaced revenues derived from that agreement with higher margin revenues from support of our own software.

Despite improving conditions in the sector, law firms continue to review their cost bases. This presents an obvious opportunity for Tikit and we are engaging with clients to advise how they could deliver their IT more efficiently by utilising Tikit's managed services teams. We signed a multi-year contract with Clarke Willmott in the first half which consists of a blended on-site technical resource and off-site help desk approach to delivering efficient IT management and support services to the firm. This outsourced contract began in June and will run for a minimum of three years.

Software sales

Total software sales increased in the first half by 15.5% to GBP3.1 million (H1 2011: GBP2.7 million) and accounted for 23.2% of our total revenues. Sales of Tikit-owned software increased by 19.0% to just over GBP1.00 million (H1 2011: GBP0.84 million).

Of particular note is the success of our Template Management System (TMS) which was implemented most recently at Linklaters and is now being installed by a number of other major law firms such as Simmons & Simmons, Olswang, Irwin Mitchell and Nauta Dutilh.

We have also increased our presence in the accountancy market with HP iManage DMS sales to both Price Bailey and Kingston Smith, in addition to completing further sales to both UK and mainland Europe law firms.

The Tikit Carpe Diem suite of time recording products are well established in large law firms worldwide and we continue to win large orders from law firms looking to improve and standardise their time recording capabilities, with Kammeradvokaten and Blank Rome recently committing to the new Enterprise version of the product.

Sales of TikitConnect CRM solutions have been encouraging in the first half, with clients implementing this new software in the UK, France, Spain and North America. Adoption of our cloud-based subscription software, Tikit Legal Office (TLO), in the first half has been slower than we had hoped for, however interest levels are good as prospective and existing clients have the option of a fully hosted solution. We expect our increased focus on sales and marketing to lead to faster growth in these areas in the future.

Sales of Tikit's award winning practice management system, Partner for Windows, have been good in the reported period and we were delighted that the Co-operative Group, the UK's largest mutual business, made a substantial investment in this software. The agreement will include bringing together The Co-operative Banking Group Legal Services and The Co-operative Group Legal Department teams.

Consultancy

In the first half of the year we successfully implemented a number of large consulting projects on both Tikit-owned and third party software. Overall consulting revenues in the period were GBP2.1 million (H1 2011: GBP2.4 million). Consulting revenues generated from Tikit-owned software increased during the period, however, consulting revenues on third party software declined due mainly to the lower demand for services on InterAction CRM. We expect consulting on CRM to improve in the future through increased sales of TikitConnect software and we will retain our experienced CRM consulting team to deliver these projects.

Overseas Operations

Business in North America continues to be important and our key focus is selling Tikit's eMarketing and Carpe Diem software into the North American market where we already support over 300 US law firms as clients, including 61 of the top 100. We have increased expenditure in sales and marketing activities which has led to us winning a number of new eMarketing and Carpe Diem clients in the first half as well as producing a good pipeline of opportunities for the second half.

Our businesses in France and Spain remain marginally profitable despite very tough trading conditions. Both businesses are the legal technology provider of choice in their respective countries for law firms servicing over 70 clients.

We have also signed two distributor agreements with organisations in Asia to resell Tikit-owned software into local markets. This is a new strategic move into the Asian market which we anticipate should start to show returns in the future.

Current Trading and Outlook

Since the end of the half year, trading has continued to be in-line with expectations. We have seen some improvement in market conditions during the first half and the level of interest in Tikit-owned software continues to increase. The outsourcing contracts won in the first half will increase recurring revenues in the second half and we anticipate more firms will be looking to outsource their IT activities. Tikit is very well positioned to capitalise on these opportunities.

We are optimistic about our future prospects in North America as there remains a significant growth opportunity from further penetration, particularly of Carpe Diem and look forward to converting more of these opportunities into sales in the second half.

Mike McGoun

Chairman

Tikit Group plc

11 September 2012

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Remains still a good hold.

Th.

[mctmct] 02/5/2012 08:56

I agree. It all looks positive.

[theophilus] 02/5/2012 07:21

For release 07.00 a.m.: 2 May 2012

Tikit Group plc

("Tikit" or the "Group")

AGM Statement

Mike McGoun, the Chairman of Tikit, will make the following comments on current trading at the AGM to be held at 12 Gough Square, London at 3.00pm today:

"I am pleased to report that profits and operating margins for the first four months of the year are in line with the Board's and market expectations.

Demand for many of the Group's services and new software has been strong, although clients continue to exercise some caution regarding investment in larger scale projects involving third party software.

We have made good progress in strengthening our sales and marketing capability as indicated in our preliminary results last month, especially in North America where we expect the increased focus will result in increased sales of higher margin Tikit-owned software in the second half of 2012 and beyond.

I look forward to updating shareholders on the Group's progress prior to entering our close period early in July".

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This company continues to make good steady progress without a great deal of fuss or excessive publicity.
I am looking forward to the next statement in July.

Th.

[alter ego] 20/4/2012 13:49

very lively all of a sudden

[theophilus] 06/3/2012 08:14

Summary and Outlook

The focus for 2012 will be to invest further in sales, marketing and development capabilities rather than to drive margins higher. This should not only result in higher sales of Tikit-owned software but will position the business for higher growth in the future. Our balance sheet remains strong and the Group has a good record of cash generation, providing a sound basis for us to continue to seek out opportunities to expand the range of services to our clients. Trading and sales opportunities in the early months of 2012 have been encouraging. The Board continues to be optimistic about the future trading prospects of the Group.

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Not overly ambitious but realistically positive. Looks increasingly a good buy but possibly below the screen for most investors.

Th.

[alter ego] 06/3/2012 07:27

excellent. particularly like growth in margins

[theophilus] 06/3/2012 07:07

Looking good.




Highlights


Managed Services revenues, consisting of recurring support and outsourcing services increased by 7% to £15.6 million (2010: £14.6 million); this revenue now contributes 59% of the total Group revenue

Revenues derived from Tikit-owned software increased by 33% to £8.2 million and were 31% of total Group revenues

Profit before tax, amortisation of acquired intangibles, share-based charges and acquisition expenses increased by 27% to £4.8 million (2010: £3.8 million)

Operating margins increased to 18.4% (2010: 14.2%)•


Earnings per share before amortisation of acquired intangibles, share-based charges, acquisition expenses and related tax increased by 29% to 25.2p (2010: 19.6p)


Final dividend increased by 28% to 5.5p per share (2010: 4.3p) giving a total for the year up 27% to 8.0p (2010: 6.3p)


Cash generated from operations was £5.2 million (2010: £5.3 million)

Net cash at period end increased 89% to £5.5 million (2010: £2.9 million)

Th.

[mctmct] 05/3/2012 17:40

Still climbing ...

Has anyone seen any comment?

[orange1] 23/1/2012 11:36

They recently appointed new brokers so that could be having an effect.