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Share Name Share Symbol Market Type Share ISIN Share Description
Blancco Technology Group Plc LSE:BLTG London Ordinary Share GB00B06GNN57 ORD 2P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -5.00 -2.06% 237.50 235.00 240.00 242.50 237.50 242.50 19,265 12:34:40
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Support Services 33.4 -0.2 1.6 148.4 180

Blancco Technology Share Discussion Threads

Showing 376 to 398 of 725 messages
Chat Pages: Latest  17  16  15  14  13  12  11  10  9  8  7  6  Older
DateSubjectAuthorDiscuss
26/4/2017
12:27
Chasbas - re finnCap - it's almost unheard of with a co of this size to for a broker to initiate with a sell rating, so a bit of a red flag here. I agree, won't be the last tech co to mismanage cash but to announce with only weeks of cash left is disturbing. If they had a supportive investor base they could easily gone and placed 5% without coming to shareholders but I'm guessing nobody is interested given the circumstances.
strange1
26/4/2017
12:09
STRANGE1, Clearly the left hand does not know what the right hand is doing, despite all their blah blah blah and over polished Presentations. The whole previous return of cash to shareholders was a farce, I never benefited? In fact I still don't understand where all that cash went, but I'm only a simple person
pj 1
26/4/2017
12:02
I see 2 possibilites 1) Finncap have issued the note in an attempt to reduce the share price so one, or more, of their clients can buy. However, I wouldn't put Fincapp in this category of Broker, but it is a possibility however slight 2) They are perhaps aware of intentions of a large holder(s) to sell or reduce, and are in effect warning their own clients. All IMO
pj 1
26/4/2017
11:55
How can a company distribute $50m less than a year ago, declare a dividend a month ago that clearly it can't pay without risking a funding collapse and allow the CEO to exercise and sell an ltip award only 2 months ago. This could literally be a couple of delayed receivable payments away from administration.
strange1
26/4/2017
11:41
Just skimmed Finncap's 26 page very detailed (initiation of coverage: target price 100p) sell note: there are 36 tables! The sector analyst must have been working on it for weeks if not months. Blancco is mainly institutionally owned: Prudential, R&M, Fidelity, Schroder, Hambro,Soros, HH, Investec. Any theories as to why such a huge effort? Maybe one of the institutions asked for a detailed note. It is unusual for a broker to publish such a long Sell note. There is normally no commercial reason to do so. As a holder I am not convinced Finncap are right but my confidence is definitely shaken. Q3 group sales +48% in constant currency + reassuring outlook statement is positive, surely. Blancco isn't the first high growth company to mismanage its cash - £4m funding must be fixable fairly quickly. I don't want to be shaken out at 172p. Good luck all.
chasbas
26/4/2017
08:30
Thanks for posting the finncap report Glasshalffull! It's very damning and my worry is the opaqueness of organic growth. If it really is single digit then the shares are still overvalued and my thesis is incorrect! (doh!). Negative FCF and a further funding gap is counter to earlier broker notes and means a further funding call which next time is likely to be an equity raise! May take some profit...
twistednik
26/4/2017
07:14
Closed SB at 175p. Too much uncertainty here. It will do as a trade. I can buy a couple of Starbucks with the profits.
bones
26/4/2017
07:00
For disclosure I didn't hold this share and still don't except for a long spreadbet opened at 168p yesterday anticipating a bounce given the upbeat trading. This is all about managing the balance sheet and the jury is certainly out there.I'll probably close the bet by next week up or down.
bones
26/4/2017
06:57
I assume Finncap gets well paid for forecasting a £5m funding gap which the company advised yesterday? Or is it the case that the company knew it was coming hence the RNS yesterday.Price targets are meaningless up or down. I don't see the point of them unless they give a timescale for being "achieved".
bones
26/4/2017
06:51
Brutal note out from finnCap this morning. They initiate with a 100p price target Titled "Firing blanks" Couple of snippets, "The technology transition from end-of-life (EoL) erasure to active and mobile erasure and, furthermore, diagnostics is unlikely to be as lucrative for Blancco as consensus implies – we believe that consensus is forecasting high growth in areas of more intensive competition compared with Blancco's traditional markets, and that the company's current product set, experience and strained balance sheet is not equipped to cope." "Revenue growth not so alluring – adjusting for Xcaliber (minority ownership) and Tabernus (part period contribution), we estimate organic revenue growth was in fact just 9%, rather than the 28% reported, down from 22% in FY16, with softer trading in Japan (20% of sales) an area of concern. With HoH growth of 24% required in H2 to meet consensus, we believe risk is to the downside."  "....expansion into new territories and target customers has negatively affected cash flow, with cash conversion deteriorating in each 6-month period for the past 18 months. We believe working capital will continue to strain cash resources and, in combination with earn- outs and a heavy capex programme, forecast negative FCF over the forecast horizon and identify a £5m funding gap, in addition to the £4m near-term short-fall already communicated. SOTP methodology derives a target price of £1." --- Good luck to remaining holders. Kind regards, GHF
glasshalfull
25/4/2017
12:43
New research out today from Equity development hxxps://www.equitydevelopment.co.uk/edreader/?d=%3D%3DgM5IjM
brummy_git
25/4/2017
11:51
Well at least one 'argument' can be put to bed once and for all and BURNT into long term memories for future similarities occurring elsewhere. And that is - being told the CFO has just upped and left via an RNS without a bye or leave nor a where or why mention as to the immediate reason for such a key decision IS a red flag profit warning, regardless of which side is to blame for the departure. . . . Now how about profit warnings come in three's? Was the CFO leaving the first or is today's RNS the first?
velod
25/4/2017
11:43
Yes, I hope the slipping of contracts is not another veiled profit warning for lower earnings later this year. It sounds like there is definitely a lack of trust around this share and the management team currently. Hopefully institutional shareholders can shake things up. Assuming there are tangible profits once all of the adjustments are cut-through, and a decent underlying business, there should be support from stakeholders. Here's my reading of what's happened: - March '17: CFO resigns; he has been in the business 6 months but clearly didn't have a proper grasp on cash-flow. By the time he realised what was going to happen (maybe he was relying on the Mexican debtor to pay the earn-out!?), his position became untenable. The Company has an internal drains up to try to quantify the shortfall. - Today: As the cash-crunch is imminent and there isn't time to get Banks to put a short-term facility in place (i.e. there is a risk the Company literally runs out of cash!), they are forced to qualify in a market announcement. I assume they are working behind the scenes to get this cash and are confident of doing so (otherwise this would be a rights issue announcement). My thesis is that the £4m is a one-off (having gone to the trouble of quantifying, you'd imagine they are now all over the current liability requirements for next 6 months) and that once sorted, the share will gradually start its positive moves. There is a risk however of further profit warnings and delays of contracts. Again, this is where the trust in the management team seems to be lacking. Worth a small punt at 158p imho, but not one for widows and orphans ! Only time will tell...Good luck all!
twistednik
25/4/2017
10:39
http://www.stockopedia.com/content/small-cap-value-report-tue-25-apr-2017-bltg-180864/
zho
25/4/2017
10:08
I'd be interested to know what all this is about: 'the later arrival of a large government contract and the slipping of larger contract deals to later in this current quarter'. One late contract is an accident, 3 or more looks like a trend.
supernumerary
25/4/2017
10:00
"The FD had to go as this is a school boy error; being caught out by working cap and earn-outs, both of which can be planned for!" The CFO Butcher departed after just under 6 months so he can hardly be accountable for this train crash. Perhaps he could and should have identified the problem a lot earlier if his finger was really on the pulse.
masurenguy
25/4/2017
09:59
175,000 gone through at 165p. Looks like a purchase. twistednik I agree with you
chasbas
25/4/2017
09:41
Watching this one for a while. Great opportunity to get in at a discount price! According to Peel Hunt, the new PE for FY17 is c.16-17x which is a good entry price for a very fast growing business. Top line continues to grow strongly which bodes well for future EPS growth and the PEG multiple is now reasonable. I still buy into their strong "moat" in data erasure and market backdrop is very positive. I'm not saying that these may not drift lower first, but on a medium / long-term hold, I'm looking for 100%+ return. Whilst cash is king, looking at the profitability of the business and EBITDA expected of c.£9m for FY17, I expect they'll easily be able to raise a short term working capital line to cover the £4m (no prizes for guessing which industry I work in!) with no dilution for existing shareholders. The FD had to go as this is a school boy error; being caught out by working cap and earn-outs, both of which can be planned for! I'm hoping that the announcement today is the full extent of their cash-flow issues (a drains up would have been completed by management once they realised the cash shortage) and once sorted, it will be back to business as usual. I've seen another business caught out by 'earn-outs' before the downturn and following a change in the FD, it's performing very well. In a sense, it is a positive drain on cashflow (i.e. increased earn-out is due because the business acquired is outperforming), albeit this creates a short-term cash-crunch. dyor etc but I think shrewd investors can capitalise in situations like these. IMHO, take a small stake and top up if they drift lower.
twistednik
25/4/2017
08:56
Looks a great entry point, business is doing well
darrenp746
25/4/2017
08:49
Gosh, it's been painful here. Glad I cleared out when the Dutch Auction was conducted a while ago. SCSW didn't even mention the CFO departure in their latest coverage! Techinvest hasn't fared any better either. I'll put it on my watchlist again to see how things pan out as Data Erasure is a terrific area to be involved in. dyor
aishah
25/4/2017
08:48
Seems like only yesterday they were giving away £50M in cash - absolutely no need for this situation ever to have occurred...
supernumerary
25/4/2017
08:13
I have been lucky here. I was thinking yesterday of increasing my holding but was too busy to do so ! We are obviously in for some worries here although this seems a very promising business. £4 million does not sound much for a company of this size but bankers are usually reluctant to advance money if it is urgently needed. A quick placing might be a better solution even below 150p. "Sell in May and go away" may prove a sound adage this year as the stock market does look rather over-heated.
varies
25/4/2017
08:03
Thought 210p would be an incredibly strong support area and had mentally pencilled-in that area as a potential re-entry buying point. But this gap-down is simply shocking in its depth of breaking past that level. . . . The market's opinion is given in all its brutality. . . . Cash on hand was a third of the previous year at end of last year's accounts and still dividends were paid at an increasing rate. And there's still a dividend due from this share to go XD in May! And that's an increased interim on the comparable divi of the previous interim! Perhaps the CFO walked when he saw cash dwindling yet the board intent on doleing out increasing dividends which he felt the company couldn't even afford, and was the last straw for him? . . . The share was technically way oversold before today, but it's lying at basket case level now such has been the rapid steep fall this morning.
velod
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