Blancco Technology Share Discussion Threads

[cerrito] 30/3/2018 13:55

Listened to the Equity Development interview and gone through the Interims.
The big thing for me of the interims was no more bad news and that things seem to be on even keel: The proof will be how many restatements/exceptionals we have in this second half.
Simon Herrick for me was very convincing about the way that the internal management had stabilized over the recent months after all the upheavals of last year: this is the man sacked by Debenhams partially for being too upbeat about prospects so the $64k question is whether he is repeating previous patterns or has learnt the error of his ways.
The most interesting figure for me in the interims was that in these six months they only paid £0.2m in bank interest which suggests that the net usage of their £11.5m facility has been low which for me is important.
For me good that in his interview the new CEO came across as more low key than his predecessor and does one follow the example of Soros and JO Hambro and buy more?

[cerrito] 28/3/2018 17:41

An interview with our new man and comes across as credible. Filmed in November last ie by that time he may have had a very preliminary approach, E8 a venture capital fund which raised US$12m in 2016 and in total US$21m-ie a good deal smaller than BLTG.
/www.youtube.com/watch?v=rh042AVY3-0

[ch1ck] 28/3/2018 08:08

Volume spike and new CEO should push up the price

[cerrito] 26/3/2018 14:09

I wonder where JO Hambro and Soros got their two lots of 5% from especially as the %age of shares held by those with 3% plus is 65/70%
edmonda Thanks for the link

[mfhmfh] 26/3/2018 13:59

SFM UK Management LLP above 5%

[edmonda] 26/3/2018 10:39

Simon Herrick and his Head of Finance discuss progress and outlook in a 25 minute interview after last week's results. Access here:

[aishah] 26/3/2018 09:55

Peel Hunt reiterate BUY and 126p target

[mfhmfh] 22/3/2018 15:31

J O HAMBRO CAPITAL above 10%

[edmonda] 20/3/2018 18:14

Results today show execution as management had stated in January - stability restored.

Unchanged FY forecasts and fair value in ED update note , freely available here:

[sphere25] 20/3/2018 13:50

No position here, but warned about this company and to follow the previous crooked directors out when they were dumping their stock.

Having looked at those results, and despite what Equity Development are saying, these still don't look an investment to me. Looks expensive to me!

Who wants to pay a multiple of 34 for a company with a track record of disappointing and with only single digit growth expected this year? Not even guaranteed to hit those numbers the way this company performs.

Market should re-rate this stock downwards with a maximum price of 40p for the time being and await further news.

[cerrito] 11/3/2018 20:31

I guess inevitable with no news on new CEO people are getting impatient and share price drifts down...time is getting on ; we will have the interims of course by month end with hopefully concrete news .

[sharesoc] 25/2/2018 18:15

Take a look at our Blancco campaign update here:

[cerrito] 19/1/2018 18:49

Had a look at the ED report.
I see they have EBT pre SBP for this FY as falling from £3.1m to £2,6m this FY and £3.8m net year mainly due to a fall of ebitda in Erasure.
Interesting they see 6.17 net cash position of £1.7b going to a net debt of £3.5b at 6.18 and £6.6m at 6.18- not sure why they see this increase; perhaps they do not believe that management will be able to get a handle on working capital or there will be big capex requirements-perhaps as a result of the new CEO. No surprise therefore that ED do not foresee dividends.
PS excuse my ignorance what is SBP?

[edmonda] 19/1/2018 14:40

after today's update, new ED research note 'Getting back on its feet' just published with new forecasts and updated valuation.

Freely accessible here:

[cerrito] 19/1/2018 13:16

A rather confusing RNS and to be honest was not expecting it as they had told us in the pre Christmas AGM that the reason that no AGM trading statement had been made was that they had made one in November and we have had few proper business days since then.
I note the distinction they made between guidance and expectations. Management would argue this confusion reflects the confusion in the underlying business. My reading of them is that they are straight and not trying to unnecessarily confuse us.
Read their comments on cash carefully; at June 30 they had £2.5m available under the bank facility. Note pre tax and interest they are cash flow positive. We do not know borrowing rate of bank facility but let us say 4.5% ie interest at £10m borrowings would e £450k pa. I would have thought that with all the losses there would be no tax payable; I see that at 6.17 there was a £1.4m tax liability which I assume has been made.
Note comments on SGA expenses and see that Herrick flagged tis up in the November webinar.
Surprised share price fell so much this morning…perhaps Forager will be further increasing their stake.
Toyed with buying more but was a bit slow going this morning but those who bought first thing should do well.
Very irritating do not spell out guidance range..will see if I can get it out of them

[garth] 19/1/2018 12:38

Cash-flow positive and mobile erasure growing strongly. Not without its risks, but considerable upside potential. No real surprises in this statement, IMO. GDPR.

DYOR

G.

[aishah] 19/1/2018 11:13

I'm keeping faith here as new mgmt cleans things up. EU regs later this year should be a kicker imo.

[mfhmfh] 19/1/2018 10:31

Peel Hunt reiterates 126p target price

[b3842517] 19/1/2018 10:02

Surprised the share price has held up as well as it has. Could have seen it drop below 50p on that update. May well do in coming days.

[its the oxman] 19/1/2018 10:00

No recovery here it seems

[ch1ck] 19/1/2018 09:58

I bet your not so happy now or maybe you see this as a buying opportunity

[larva] 12/1/2018 15:47

UP on bid

Last statement was v good



Very happy to be able to buy at this price


GARP
Growth at attractive price

[sharesoc] 12/1/2018 15:35

ShareSoc Requests Investigation into the Affairs of Blancco Technology (LON:BLTG)


If you are an affected shareholder or interested in more news on our campaign, please register your interest in our campaign here:

[larva] 11/1/2018 10:59

UP on bid

Last statement was v good

[albanyvillas] 08/1/2018 12:05

Take off time!!!