Accumuli Share Discussion Threads

[mazarin] 25/11/2014 09:20

I agree that these results can only be interpreted as entirely 'positive' and contain nothing, that I can see warrants any serious investor deciding to sell as a result. So I am left wondering what their motivation is and just what were they expecting? I can only assume that they're mere speculators, poised for a 'quick gain' and off if it's not immediately forthcoming. So consider such activity to be of little consequence. The real strength will establish when the butterflies have fluttered off and common-sense prevails.

[adamb1978] 25/11/2014 09:01

Results on the whole look pretty decent. Only slight concern is that gross margin was down from 58% last year to 52% this year but their explanation suggests that this might be due to throwing people at contracts. Given this is the seasonally quieter half, it should in theory recover so think the valuation looks fine, particularly as they're 2/3 through the current year

[boadicea] 25/11/2014 08:47

A mark-down hardly appears to be a fair response to good results which were well up to reasonable expectations - but that is typical of AIM in the current climate. Six months or so is clearly too long for some to wait for a report on what promises to be an even better 2nd half.
Any further regression will be a serious call for a top-up.

EDIT (and o/t): Followers of ACM might like to note recent progress in another small tech company which forms part of my trio of hopefuls, UNG - two positive announcements in as many weeks. (The third of the trio is ECK which is familiar to some others here.)

[gargleblaster] 25/11/2014 08:25

Yep - a few sales going through - agree patience required. I imagine in a day or two we should get a good write up from IC which on a stock with a small market cap like ACM could give quite a boost (I am assuming they maintain their buy rating).

[itchycrack] 25/11/2014 08:22

Its always the same these days with small AIM stocks, sell on results day. Best to wait to end of day or tomorrow to add (IMHO). Great results though! :-)

[thepopeofchillitown] 25/11/2014 08:14

Now tanking. Need to be patient with these I see

[gargleblaster] 25/11/2014 07:59

Are we opening slightly up?

[masurenguy] 25/11/2014 07:57

* Topline growth of 34%
* Recurring sales of 64%
* EBITDA up 36%
* Cash unchanged at £3.6m
* The only downsides were reduced GP, which only increased by 16% (GM down to 52% from 58%) due to a less favourable product mix in H1 and operating losses up 126% compared to last year.
* However, after ignoring the one-off costs emanating from the B&B strategy, eps increased by 22%
* Cashflow remains positive although slightly down on last year.

They are really making excellent progress while taking on the increased costs that are always endemic where a B&B strategy is employed but these will eventually be offset by the increase in synergies and cross-selling to existing customers. I agree with Hastings that this is a strong hold and would be interested in any further insight after he has spoken to management later today.

[hastings] 25/11/2014 07:43

Summed up well by Rivaldo and also happy to be holding. Will be catching up with management later this morning for few words too.

[gargleblaster] 25/11/2014 07:40

Beat AdamB's expectations!

Turnover 10.3 v 9.2
Ebitda 1.5 v 1.4
EPS 0.67 v 0.64

[visacard] 25/11/2014 07:39

Cash flow a bit worrying though or am I missing something? Over 1 million in receivables.

[sven2006] 25/11/2014 07:33

Nice results guys

[rivaldo] 25/11/2014 07:24

Indeed - H1 is always considerably the weaker half, so such a bullish outlook is good to see.

Trading was "comfortably" in line with expectations, which sounds extremely positive.

And there's a "strong" pipeline for H2, with "significant contract wins" since 30th September.

Recurring revenues are up to 64% of gross profit too.

Good stuff.

[thepopeofchillitown] 25/11/2014 07:20

Look a little better than expected to me plus further contract wins.

[mazarin] 24/11/2014 07:36

Should anyone also hold, Eckoh (ECK) has today announced some very positive news that I'm hoping will help towards lifting the Sector generally ahead of tomorrow's Interims.

[buffetteer] 22/11/2014 14:47

Not sure on Interims but looking for 1.7p full year adjusted.

[adamb1978] 22/11/2014 13:30

So, what are people expecting on Tues? My figures are:

turnover: £9.2m
EBITDA: £1.4m
Adjusted EPS: 0.64p

[v11slr] 21/11/2014 20:47

I'm probably just being overly cautious.

[gargleblaster] 21/11/2014 20:08

V11SLR - Generally imho there tends to be a sell off in smaller cap shares(sometimes considerable) when the share price has been rising preceding the results, however good the results are. The ACM share price has not done that - it has been weak. Hopefully that means that expectations are not that great and an in line set of results will not cause any down trend in the share price That's the theory - but of course I could be 100% wrong!!

[v11slr] 21/11/2014 15:32

Sold my ACM today for a small profit, just not happy to hold on results day.

[nigel_s] 21/11/2014 14:45

mazarin: welcome. Yes, buys seem often to trade under mid price here (and other shares)

[nigel_s] 21/11/2014 14:42

"Accumuli Security wins Dynamic Business of the Year Award sponsored by Deloitte"

hxxp://www.accumuli.com/accumuli-security-wins-dynamic-business-of-the-year-award-sponsored-by-deloitte--i-5367.php

[nigel_s] 21/11/2014 14:30

Tweet from ACM:

"Thank you for your interest, our interim results will be announced next Tuesday 25th November."

[mazarin] 21/11/2014 13:54

I have been looking at these for some time and today decided its about time to take an initial position here. I'm quite familiar with the sector and will be interested to see where ACM goes from here. I see ECK has just ticked up presumably ahead of next week's Interim report.
Incidentally, having just checked today's ACM Trades, I see that my 'buy' was wrongly interpreted as a 'sell', based on the 25p opening price. I bought mine for less than that, as did 4 the other 'apparent' sells before me, so I quite expect to see this also tick up in due course to properly reflect these trades..

[gargleblaster] 20/11/2014 10:22

Technicians maybe looking at this as a bounce off a double bottom formation.