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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Adept Technology Group Plc | ADT | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 200.50 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 200.50 | 200.50 |
| Top Posts |
|---|
Posted at 03/3/2023 15:14 by red ninja Well that's my votes for takeover gone in.The question is what to do with the funds when they appear. There aren't so many good value options like ADT on the AIM market. |
Posted at 09/2/2023 08:26 by 2lb 100% done deal. Macquarie are bring aggressive in the market and using Wavenet as the vehicle to build a tech services platform. ADT has made itself a sitting duck , there will be a lovely deal bonus for the directors, of that you can be assured. |
Posted at 08/2/2023 15:29 by irenekent What happened to 250p? Any chance of a counter offer - someone else must be interested in making a better offer, even if it only means adding in the dividend which will be cancelled. |
Posted at 29/1/2023 17:23 by value viper Hi Red - I’ve started a new 2023 ADT threadPost there Give this all the luck it needs |
Posted at 29/1/2023 11:49 by red ninja If Adept Does manage to pay off something around £6-10 million of senior debt over the next 18 months that may start a re-rating.Personally, I'd like them to continue taking debt downward, but not sure how far they are prepared to take the deleveraging. As you say no management buying at these depressed levels is not encouraging. Yes, I'm liking the FY dividend of 5p, but I am thinking they are effectively borrowing the money to pay it and paying interest on it. I believe the institutions have been encouraging Adept to deleverage, but I guess it depends how stubborn the board is. I would hope for a pickup in growth, but given the recession I am not sure how much if any growth we can hope for. Judith McKenzie (Downing) has said she would expect a price of £2.50 per share if it was to be taken over. |
Posted at 16/12/2022 12:20 by red ninja Downing Strategic Micro Cap I.T. November Factsheet comment :-"AdEPT (+4.8%) reported flat revenue and earnings and a challenging outlook over the short-term, affected by ongoing equipment supply shortages. However, the business is now in a great position to begin de-leveraging having paid the final deferred consideration due on prior acquisitions. As a signal of the Board’s confidence in generating sustainable free cash flow going forwards, the business reintroduced an interim dividend." [...] |
Posted at 19/11/2022 12:02 by red ninja Investors Champion Comment :-Adept Technology: all eyes on debt reduction AdEPT (AIM: ADT), one of the UK's leading independent providers of managed services for IT and unified communications, announced results for the six months ending 30 September 2022. Group revenue was flat at £34.2m (H1 FY22: £34.3m), impacted by global supply chain issues, but also highlighting the struggle for this business to grow in the absence of acquisitions. In Cloud Centric Strategic Services revenue rose 3% to £15.1m with Managed Services revenue as a whole increasing to 89% of Group revenue (H1 FY22: 87%), offsetting the structural decline in revenue from legacy Traditional Telephony, from which the Group continues to move away. Adjusted operating profit fell 4.7% to £5.45m while there was a reported pre-tax loss of £461k after £1.5m of finance costs. The cash flow presents a better idea of what’s really going on, with the operating cash inflow £4.4m and free cash inflow £2.5m. ADT also paid out deferred consideration for its previous Datrix acquisition of £4.3m. Senior net debt closed at £30.7m (H1 FY22: £31.2m), down £5.9m (16%) in the last 12 months. Unfortunately, there is also the small matter of £6.8m of a convertible loan. We remain puzzled why Adept is committing to a pay a dividend when the focus should be on bringing down debt, especially in the face of rising interest rates. The forecast full year March 2023 dividend of 5.00p per share (yield 4.3% at the current 116p share price price) will cost approx. £1.25m, while full year cash interest payments will incur £2.2m. It might be affordable from c£8m of free cash flow, but it’s hardly money well spent and the high level of debt will continue to be a drag on the share price, in our opinion! |
Posted at 15/11/2022 07:23 by blusteradjuster The post-acquisition-sprDecrease to senior debt and acquisition liabilities of GBP5.9 million (16%) in the last 12 months. Interim dividend of 2.5p (H1 FY22: Nil) - up 150% on final dividend of 1.0p in FY22. Dividend cover of 4.8x. The Group's GBP7.3 million convertible loan note is at a fixed interest and senior net debt is anticipated to reduce significantly over the coming 12 months. Based on the current base rate forecast (source: ICAEW.com) through to December 2024 of an increase to 4.5%, the interest cost variance against previous management expectation is GBP0.2 million, which is less than two-weeks operating cash flow. |
Posted at 07/10/2022 12:58 by red ninja Research Tree Summaryhxxps://www.research "The strong organic cash flow of FYMar22 has continued into the first half of FY23. With the last of the earn-outs paid out in July and with a high recurring revenue profile (74%/sales) AdEPT is hiking its dividend. We now forecast 5.0p for FY23 from 3.0p, which is a yield of c. 4.5%. The increased pay-out remains consistent with the programme to deleverage the balance sheet. AdEPT still expects net debt/EBITDA to fall below 2x within 12 months and remains well within its covenants. Management talks of “resilientR If they can deleverage and pay a progressive dividend can't see the major holders wanting to exit at 200p, but we will be better informed at next results. |
Posted at 07/10/2022 12:33 by red ninja Well there is no evidence of big holders selling ie no RNSes of reduced holdings.The company seemed upbeat in the AGM statement ie new sales opportunities in public and private sectors. They are even proposing to raise the interim dividend :- "As a result, the Board is pleased to announce a return to interim dividend payments, with an interim dividend of 2.50p per Ordinary Share in respect of the six months ended 30 September 2022. This represents an increase of 150% over the final dividend of 1p, proposed for the year ended 31 March 2022." Maybe that would have been better spent bringing down the debt burden. I can't see them wanting to sell out at this low share price assuming they can manage the debt burden, |
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