Arcontech Share Discussion Threads

[multibagger] 02/4/2015 07:06

Excellent news and the prospect of this opening up a new market with a highly credible reference customer !

RNS Number : 2367J

Arcontech Group PLC

02 April 2015

ARCONTECH GROUP PLC

("Arcontech" or the "Group")

Major New Client Win

Arcontech Group PLC (AIM:ARC) is delighted to announce the signing of a new major client for a minimum of 200 licenses for its real-time Excel add-in, Excelerator; the market leading real-time data display and contribution solution.

Matthew Jeffs CEO of Arcontech, said,

"We are extremely pleased to be working with this highly respected international investment bank. This new client win is affirmation of the quality and robustness of our solutions and the professionalism of our team. At the outset of the project we were put through an extremely comprehensive comparison exercise which lasted more than several months. The result of these joint endeavours is an enhanced solution that, as well as being clearly superior to competitors, has broadened our target market with an interface to Open MAMA and Solace Systems. On top of that we have an important new global client. I am grateful to all parties involved during this collaborative project and look forward to reporting further successes in the future."

For further information please visit www.arcontech.com or contact:

Arcontech Group plc

Richard Last, Chairman and Non-Executive Director 07713 214484
Matthew Jeffs, Chief Executive 020 7256 2300

finnCap Ltd

Charlotte Stranner/ Simon Hicks 020 7220 0500

This information is provided by RNS

The company news service from the London Stock Exchange

END

[harebridge] 29/3/2015 21:12

finnCap is the No. 1 Broker to AIM companies, and a top ten adviser on the LSE. Our team has a strong track record in advising and raising capital, providing research and after market care for ambitious growth companies.We have a partnership culture and encourage long-term relationships with our clients. As specialists in the growth area of the market, we have led over a billion pounds of both M&A transactions and fundraisings for our clients since inception.

[multibagger] 26/3/2015 10:45

I wonder if there will be any director or Anthony Cross buys at this very low share price....given the healthy cash position of about £1.294m - means that the market is valuing the rest of the company at almost zero.

[fanramptastic mate] 26/3/2015 08:33

Well what a disappointment that was.

That loss of contract is going to be tough to replace.

I think it will be a long time before this climbs back to yesterdays closing price, let alone this years high!

Im out at a 30% loss but feel sure I can quickly recover that by investing the remainder elsewhere.

I may be back.

GLA

fanny.

[comedy] 26/3/2015 08:14

why change adviser? placing coming?

[multibagger] 26/3/2015 07:58

We are hardly swamped with posts or posters swizz !

Good improvement in cash balance and I expect that we may lose about 250k on annual revenue from this "significant" contract loss if it comes to that.

Anyway,the results are more or less in line with the profits I was expecting, but I am pleased with the increased cash at hand.

[swizz] 26/3/2015 07:48

mb - Why clutter the BB with info you can link or abbreviate?......GL S

[multibagger] 26/3/2015 07:45

Just on reading the entire RNS noticed that

........." Net cash at 19 March 2015 was GBP1,294,061".....very healthy !

RNS Number : 4912I

Arcontech Group PLC

26 March 2015

ARCONTECH GROUP PLC

("Arcontech" or the "Group")

INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER 2014

Arcontech (AIM: ARC), the provider of products and services for real-time financial market data processing and trading, is pleased to report its unaudited results for the six months ended 31 December 2014.

Financial and business highlights:
-- Turnover increased by 7% to GBP1,041,599 (six months ended 31 December 2013: GBP976,578).
-- Operating profit increased to GBP115,900 (six months ended 31 December 2013: loss of GBP68,976).

-- Annual run-rate of recurring revenues at 31 December 2014 amount to GBP2.1 million (2013: GBP1.9 million) and cover 112% of the cost base.
-- Net cash of GBP1,073,948 at 31 December 2014 (31 December 2013: GBP664,098).
Richard Last, Chairman of Arcontech, said:

"The Board is pleased that the Group is making progress in delivering increasing levels of turnover and profitability in the medium to longer term. However, the level of profitability for the current year ending 30 June 2015 is uncertain, due to a significant customer requesting the termination of its contract 18 months early for reasons outside of our control. We are currently working to resolve the situation. Although we expect to achieve new sales wins before the year end, due to revenue on our contracts being taken to profit on a monthly basis, it is unlikely that we will be able to fully compensate for the loss of revenue should the contract be terminated. Nevertheless, the Board believes Arcontech will deliver a positive result for the six months ending 30 June 2015. With current net cash balances in excess of GBP1.2m and a healthy sales pipeline, we remain positive about the Group's prospects."

Enquiries:

Arcontech Group plc
Richard Last, Chairman and
Non-Executive Director 07713 214484
020 7256
Matthew Jeffs, Chief Executive 2300

finnCap Ltd
Charlotte Stranner/ Simon 020 7220
Hicks 0500


To access more information on the Group please visit: www.arcontech.com

The interim report will only be available to view online enabling the Group to communicate with shareholders in a more environmentally friendly and cost effective manner.

Chairman's Statement

I am pleased to report that Arcontech has moved into profitability in the six months ended 31 December 2014. The operating profit for the period was GBP115,900, compared to an operating loss of GBP68,796 in the corresponding six month period ended 31 December 2013. This was achieved by an increase in turnover as well as operating efficiencies and cost reductions. Turnover for the six month period increased by 7% to GBP1,041,599 (six month period ended 31st December 2013: GBP976,578) of which GBP1,035,399 relates to recurring annual licence fees (six month period ended 31 December 2013: GBP962,378). At the same time, operating efficiencies and tight control of expenses resulted in cost reductions amounting to GBP119,855 compared to the corresponding period last year.

The sales cycle continues to take longer than we would like, however, our pipeline of qualified prospects remains encouraging. We are committed to product development focused both on enhancing our solutions for existing customers in response to their feedback, as well as developing new products. In particular, we have developed an interface to Open MAMA and Solace Systems, as well as working with FactSet Systems to enable them to receive and display real time data.

Financing

Arcontech is well financed, with net cash balances at 31 December 2014 of GBP1,073,948 (31 December 2013: GBP664,098). This represents an increase of GBP409,850 since the year end at 30 June 2014. Net cash at 19 March 2015 was GBP1,294,061. This places Arcontech in a positive position to maintain its level of product development and increase its sales capability.

Employees

I would like to thank our employees and my fellow directors for their hard work and support over the last six months. It is essential, particularly in small businesses, that everyone works together as a team and has a flexible approach. As a result this has enabled the Group to achieve profitability.

Outlook

The Board is pleased that the Group is making progress in delivering increasing levels of turnover and profitability in the medium to longer term. However, the level of profitability for the current year ending 30 June 2015 is uncertain, due to a significant customer requesting the termination of its contract 18 months early for reasons outside of our control. We are currently working to resolve the situation. Although we expect to achieve new sales wins before the year end, due to revenue on our contracts being taken to profit on a monthly basis, it is unlikely that we will be able to fully compensate for the loss of revenue should the contract be terminated. Nevertheless, the Board believes Arcontech will deliver a positive result for the six months ending 30 June 2015. With current net cash balances in excess of GBP1.2m and a healthy sales pipeline, we remain positive about the Group's prospects.

Richard Last

Chairman and Non-Executive Director

CONSOLIDATED INCOME STATEMENT

Six months Six months Year ended
ended ended 30 June
31 31
December December
2014 2013 2014
(unaudited) (unaudited) (audited)
GBP GBP GBP

Revenue 1,041,599 976,578 1,981,375

Distribution costs - - (31,439)

Administrative costs (925,699) (1,045,554) (1,989,156)


Operating profit/(loss) 115,900 (68,976) (39,220)

Finance income 1,032 2,241 3,655


Profit/(loss) before
taxation 116,932 (66,735) (35,565)

Taxation 109,378 - 100,251



Profit/(loss) for
the period after
tax 226,310 (66,735) 64,686


Total comprehensive
income 226,310 (66,735) 64,686


Profit/(loss) per
share (basic) 0.015p (0.004)p 0.004p

Profit/(loss) per
share (diluted) 0.014p (0.004)p 0.004p

All of the results relate to continuing operations.

CONSOLIDATED BALANCE
SHEET
31 December 31 December 30 June
2014 2013 2014
(unaudited) (unaudited) (audited)
GBP GBP GBP

Non-current assets
Goodwill 1,715,153 1,715,153 1,715,153
Property, plant
and equipment 15,531 22,162 19,112


Total non-current
assets 1,730,684 1,737,315 1,734,265


Current assets
Trade and other
receivables 757,616 254,526 361,016
Cash and cash equivalents 1,073,948 664,098 733,676


Total current assets 1,831,564 918,624 1,094,692


Current liabilities
Trade and other
payables (609,224) (485,184) (561,434)
Deferred income (1,303,096) (892,790) (850,638)


Total current liabilities (1,912,320) (1,377,974) (1,412,072)


Net current liabilities (80,756) (459,350) (317,380)


Net assets 1,649,928 1,277,965 1,416,885


Equity
Share capital 1,536,672 1,531,315 1,536,672
Share premium account 9,430,312 9,428,169 9,430,312
Share option reserve 79,295 271,912 72,562
Retained earnings (9,396,351) (9,953,431) (9,622,661)


1,649,928 1,277,965 1,416,885


CONSOLIDATED CASH FLOW STATEMENT

Six months Six months Year ended
ended ended 30 June
31 31
December December
2014 2013 2014
(unaudited) (unaudited) (audited)
GBP GBP GBP


Net cash generated from/(used
in) operating activities 340,259 (213,830) (151,013)

Investing activities

Interest received 1,032 2,241 3,655

Sales of plant and equipment 166 - -

Purchases of plant and
equipment (1,185) (3,117) (5,270)

Issue of shares - - 7,500


Net cash generated from/(used
in) investing activities 13 (876) 5,885


Net increase/(decrease)
in cash and cash equivalents 340,272 (214,706) (145,128)


Cash and cash equivalents
at beginning of period 733,676 878,804 878,804

Cash and cash equivalents
at end of period 1,073,948 664,098 733,676
============ ============ ============

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

Share Share Share-based Retained Total
capital premium paymentsreserve earnings
GBP GBP GBP GBP GBP
At 1 July
2013 1,531,315 9,428,169 253,234 (9,886,696) 1,326,022
Loss and comprehensive
income for
the period - - - (66,735) (66,735)
Share-based
payments - - 18,677 - 18,677
At 31 December
2013 1,531,315 9,428,169 271,911 (9,953,431) 1,277,964
------------------------ ------------ ------------ ----------------- -------------- ------------
Total comprehensive
income for
the period - - - 131,421 131,421
Issue of shares 5,357 2,143 - - 7,500
Share-based
payments - - - - -
Share-based
payments provision
released - - (199,349) 199,349 -
At 30 June
2014 1,536,672 9,430,312 72,562 (9,622,661) 1,416,885
------------------------ ------------ ------------ ----------------- -------------- ------------
Total comprehensive
income for
the period - - - 226,310 226,310
Share-based
payments - - 6,733 - 6,733
At 31 December
2014 1,536,672 9,430,312 79,295 (9,396,351) 1,649,928
------------------------ ------------ ------------ ----------------- -------------- ------------

NOTES TO THE FINANCIAL INFORMATION

1. The figures for the six months ended 31 December 2014 and 31 December 2013 are unaudited and do not constitute statutory accounts. The interim results have been prepared using accounting policies which are consistent with International Financial Reporting Standards as adopted by the European Union and are expected to be adopted in the next annual accounts.

The financial information for the year ended 30 June 2014 set out in this interim report does not comprise the Group's statutory accounts as defined in section 434 of the Companies Act 2006. The statutory accounts for the year ended 30 June 2014, which were prepared under International Financial Reporting Standards (IFRS) as adopted for use in the EU, applied in accordance with the provisions of the Companies Act 2006, have been delivered to the Registrar of Companies. The auditors reported on those accounts; their report was unqualified and did not contain a statement under either Section 498(2) or Section 498(3) of the Companies Act 2006 and did not include references to any matters to which the auditor drew attention by way of emphasis

2. Copies of this statement are available from the Company Secretary at the Company's registered office at 8th Floor Finsbury Tower, 103-105 Bunhill Row, London, EC1Y 8LZ or from the Company's website at www.arcontech.com.

3. Earnings per share have been calculated based on the profit after tax and the weighted average number of shares in issue during the half year ended 31 December 2014 of 1,536,672,013 (31 December 2013: 1,531,314,870; 30 June 2014: 1,536,672,013). The number of dilutive shares under option at 31 December 2014 was 56,247,024 (31 December 2013: Nil; 30 June 2014: 13,314,419).The calculation of diluted earnings per share assumes conversion of all potentially dilutive ordinary shares, all of which arise from share options. A calculation is done to determine the number of shares that could have been acquired at fair value, based upon the monetary value of the subscription rights attached to outstanding share options.

4. Taxation is based on the unaudited results and provision has been estimated at the rate applicable to the Company at the time of this statement and expected to be applied to the total annual earnings, adjusted for cash recovery of Research & Development tax credits during the period.
5. There were no dividends paid or proposed during the period (2013: Nil).
6. The Directors have elected not to apply IAS34 Interim financial reporting.
This information is provided by RNS

The company news service from the London Stock Exchange

END

[swizz] 26/3/2015 07:08

Good to see the profitability achieved, albeit small in the scheme of things, however I think RL's comments will be the main focus, will be watching closely for an overreaction and a possible opportunity to add,....GL S

Richard Last, Chairman of Arcontech, said:

"The Board is pleased that the Group is making progress in delivering increasing levels of turnover and profitability in the medium to longer term. However, the level of profitability for the current year ending 30 June 2015 is uncertain, due to a significant customer requesting the termination of its contract 18 months early for reasons outside of our control. We are currently working to resolve the situation. Although we expect to achieve new sales wins before the year end, due to revenue on our contracts being taken to profit on a monthly basis, it is unlikely that we will be able to fully compensate for the loss of revenue should the contract be terminated. Nevertheless, the Board believes Arcontech will deliver a positive result for the six months ending 30 June 2015. With current net cash balances in excess of £1.2m and a healthy sales pipeline, we remain positive about the Group's prospects."

[oilbuy] 26/3/2015 07:04

Arcontech (AIM: ARC), the provider of products and services for real-time financial market data processing and trading, is pleased to report its unaudited results for the six months ended 31 December 2014. Financial and business highlights: · Turnover increased by 7% to £1,041,599 (six months ended 31 December 2013: £976,578).· Operating profit increased to £115,900 (six months ended 31 December 2013: loss of £68,976).· Annual run-rate of recurring revenues at 31 December 2014 amount to £2.1 million (2013: £1.9 million) and cover 112% of the cost base.· Net cash of £1,073,948 at 31 December 2014 (31 December 2013: £664,098). Richard Last, Chairman of Arcontech, said: "The Board is pleased that the Group is making progress in delivering increasing levels of turnover and profitability in the medium to longer term. However, the level of profitability for the current year ending 30 June 2015 is uncertain, due to a significant customer requesting the termination of its contract 18 months early for reasons outside of our control. We are currently working to resolve the situation. Although we expect to achieve new sales wins before the year end, due to revenue on our contracts being taken to profit on a monthly basis, it is unlikely that we will be able to fully compensate for the loss of revenue should the contract be terminated. Nevertheless, the Board believes Arcontech will deliver a positive result for the six months ending 30 June 2015. With current net cash balances in excess of £1.2m and a healthy sales pipeline, we remain positive about the Group's prospects."

[harebridge] 20/3/2015 09:07

Arcontech group ARC results out next week. This from last time:" We intend, however, when the company moves into sustainable profitability, to seek court approval to re-designate our reserves and thereby enable the company to pay dividends."Tiny little profit making company well under the radar that deals in real time data.

[harebridge] 18/3/2015 20:02

Dropped by 6% at the death on a trade of a couple of hundred pounds.Who says that the AIM market is corrupt!

[dosser2] 17/3/2015 11:19

Ha Ha/ Lol

[harebridge] 17/3/2015 10:41

Unless of course, they got that big contract & are trying to work out what sort of special Dividend to pay shareholders.

[lexus880] 17/3/2015 10:32

Has any received compensation regarding City Equities from FSCS

[fanramptastic mate] 17/3/2015 07:48

I think you are a bit premature with your opinion.

What delay are you referring to?

[harebridge] 17/3/2015 07:20

With the delay, very much doubt there will be any good news here. Something would have been leaked by now.Volume has been negligible. Not sure what the policy here is.

[oilbuy] 16/3/2015 22:48

And good news is never delayed !!!

[multibagger] 14/3/2015 11:15

The ARC results better be good with all the interminable waiting....if the Grolsch advert is to be believed, good things come to those who wait :)

[113mike] 13/3/2015 23:23

Any Depeche Mode fans here?

[113mike] 13/3/2015 23:20

Enjoy the silence!