Boxhill Share Discussion Threads

[skinny] 31/10/2017 10:21

Chairman's Statement
The half year to 31 July 2017 has seen significant balance sheet improvements despite a reduction in revenue (£559,000 H117 versus £1,125,000 in the six months to 31 July 2016) delivering an operating loss for the six months to 31 July 2017 of £358,000. This compares to an operating profit of £288,000 for the six months ended to 31 July 2016. The operating loss is somewhat offset by the revaluation of equity investment in Timegrand which takes Total Comprehensive Income for H1 2017 to £141,000. (£288,000 in H1 2016).
The first half of the year has seen continued investment in technology roll out and regulatory and compliance management in the payments division. Unfortunately certain planned H1 revenues have slipped into H2 due to circumstances outside the group's control. Having said that, the independent assessment of Timegrand has valued the software at £1.5m contributing to a 27% improvement in total assets rising to £3,641,000 (from £2,848,000 in the first half of 2016).
The Company continues to expand its geographical reach and roll out new technologies. In H1 2017 we have successfully launched multi-currency vIBANs (virtual international bank account numbers) for individuals and corporations and introduced SMS based two-stage verification of payments from accounts. The total number of accounts is increasing steadily with over 2000 registered users. EmexGo account users have the unique ability to fund by, and pay out to, any card from any issuer world wide.
EmexPay, the credit card processing business, has seen growth in revenues growing at an average of 95% per month as customers reintegrate after the disruption to services last year - and this trend is expected to continue throughout the year. Additionally, new China Union Pay facilities agreed in September opens up further opportunities for existing and new merchants to access what is the largest card payment organisation in the world.
The Emex branded companies have been present at a number of key trade and specialist industry events, including recent attendance at SIBOS (Swift International Banking Operations Seminar) in Toronto and they will be exhibiting at Sigma (Summit of iGaming) in Malta in November.
Our network of corresponding financial institutions continues to grow with new key relationships in Europe, Africa and the Caribbean. New licence applications are in progress in Mauritius and central Europe, both of which are due to be granted in the very near future, improving our ability to deliver services worldwide.
Prize Provision Services Limited ("PPS"), which operates The Weather Lottery, is operating as expected and in line with projections. PPS has recently launched the Sports Club Lottery a sister product to The Weather Lottery, which is focussed solely on helping local sports clubs raise additional funds through the operation of their own subscription lottery. Additional account management staff have been hired by PPS and tasked with increasing participants playing the lotteries which the company administers on behalf of its clients.
Soccerdome Ltd holds a stake in Nineteen Twelve Holdings Ltd, the owner a 5-a-side football centre in Nottingham, operated by Astro Kings Ltd. As outlined in the Full Year Results published 7 July 2017, the football pitch business is no longer considered an operating segment of the Group. The venture faces strong competitive challenges following the expansion in number of all-weather pitches available in the region over recent years. Naturally, this has led to a highly competitive marketplace. The directors do not expect there to be any significant impact upon the group from this venture.
Boxhill's payments division has a very healthy sale pipeline with a number of significant transactions in progress which are expected to close in the coming few weeks which will yield revenues well in excess of the entire business H1 revenues.
Finally, the company is pleased to announce that all historical legal matters have successfully been bought to a close.

[tamtoni] 31/10/2017 10:19

results out

[mostyn] 31/10/2017 08:35

Results often come during the day from BOX. Too much to expect to get them at 7:00AM like most other companies. I'm still hoping we get something which most investors would describe as a decent set of results, especially after the AGM Statement. For me the most important part will be what they say about H2, given that we have already had 3 months trading, and also what information they give to enable us to see what impact the very large transfers might have. It would also be good if they stated an intention to address their appalling investor communications, and I don't just mean their inability to answer emails.

[smcl] 30/10/2017 20:04

Yes too blooming true!!

[smcl] 27/10/2017 13:00

Thanks Mostyn- appreciated.

[mostyn] 27/10/2017 12:31

smcl,

I would say guardedly optimistic. On the revenue and profit front I believe the upcoming interims will show recovery, with a much stronger recovery signposted for H2. The areas where I have some concerns (although in the past I have had reassurance from the company) are those of trade receivables and trade payables which I feel are too high and I also don't like the date structure. The company doesn't seem to see this as a problem. The other area I don't like is common to many companies - you have to wait from one set of results to almost another with little guidance in between. Hopefully my guarded optimism will not be misplaced.

[smcl] 26/10/2017 20:45

Sanilav - good point you might be right.

[sanilav] 26/10/2017 20:30

Not sure that is a sell today,could be a buy at mates rates.

[smcl] 26/10/2017 20:20

Mostyn- how optimistic are you on this- hold just over 2 mill would be nice to see something?

Thanks

sm

[smcl] 26/10/2017 19:18

Agreed. Why the delay in results?

[mostyn] 26/10/2017 11:30

The seller seems to be still around. Whoever is selling is almost certain to be losing money at this level. Perhaps it's one of the vendors of the recent acquisition. It's an odd time to be selling just ahead of the results, and when the company have said business is improving and they expect the second half to be much improved.

[mostyn] 25/10/2017 10:49

Looks like a bit of buying in anticipation of the Interim Results. AIM companies have 3 months after 6 month period end for Interims so should be at latest October 31st. AGM Trading Statement pointed to recovery so results should be on an improving trend. From a chart standpoint (for what it's worth on a small, relatively illiquid, stock) Boxhill is oversold.

[smcl] 24/10/2017 20:29

Yeh Sanilav- lot of sells- panic or nervous disposition?

[sanilav] 24/10/2017 20:03

No results and an abundance of sells,had high hopes for this once,beginning to wane somewhat.Restore my faith please.

[smcl] 24/10/2017 17:44

Still no results announcement!!

[smcl] 20/10/2017 07:51

When are the results due. Terrible communications with shareholders!

[smcl] 11/10/2017 15:24

Lanb5004- hope your right. In for 2million.

[ianb5004] 11/10/2017 14:58

I suspect 2017 , box will make a decent profit if the 9 figure transactions are as reported.
Hope to see them repaid that money philite owe too, would substantially boost cash held which was +£800k on last update.

[soft t] 09/10/2017 14:40

last final announcement look it up ============news box[symbol]

[smcl] 09/10/2017 12:12

Hi soft t- where as this info published.

Thanks

Sm

[soft t] 09/10/2017 11:47

if they don't get that £1,767,536,as under funding/working capital,how can they survive?

[smcl] 08/10/2017 09:48

Thanks Adh0. Appreciate the response.

[smcl] 07/10/2017 22:30

Soft1- what's your views? Positive or negative- it's not hugely loss making like a lot of AIM companies?

Thanks in advance.