Castleton Technology Share Discussion Threads

[chimers] 22/2/2017 11:17

About Abritas
Incorporated in 2000, Abritas is an independent supplier of web-based systems to local authorities, housing associations and social care providers. The company’s software solutions include Housing Register, Choice Based Lettings, Enhanced Housing Options, Housing Advice and Homelessness, Mutual Exchange, Social Care and Rents applications.

[chimers] 22/2/2017 11:17

About Civica
Civica (www.civica.co.uk) is a market-leading specialist in digital solutions, critical applications and outsourcing services that help teams and organisations around the world to transform the way they work. Combining exceptional customer focus, experience and commitment, Civica supplies more than 4,000 organisations in 10 countries around the world

[chimers] 22/2/2017 11:11

Oh dear.................

Group extends capabilities with acquisition of Abritas
Group extends capabilities with acquisition of web-based software specialist

The Civica Group, a market leader in business-critical software applications, digital solutions and outsourcing services, has announced that Civica UK Limited, the company’s wholly owned subsidiary, has acquired specialist software provider Abritas Limited.

Based in Reading, Abritas provides web-based application software and related services for the UK social housing sector. Its software-as-a-service solutions are used by more than 170 local authorities and housing associations to provide social housing needs, options and lettings services for tenants, including an online mutual exchange tool to help tenants swap homes (www.swapandmove.co.uk).

The acquisition brings specialist capability which the Group does not currently offer, which strengthens its capability to support improved and more efficient tenant services and help address homelessness.

Abritas has continued to perform well in 2016, securing agreements with new and existing customers across the country including, among others, Liverpool City Council, Nuneaton & Bedworth Borough Council and Torfaen County Borough Council.

Wayne Story, chief executive of Civica said, “I am delighted to welcome Abritas to the Civica Group. Abritas brings a strong heritage and product set, and the combined business is very well placed to respond to the needs of customers to adapt to a changing social housing landscape.”

Simon Reynolds, Sales Director of Abritas, said, “This is the next stage in the development of our business and is a very positive step for employees, customers and partners. The combination of our specialist expertise and Civica’s breadth and depth of capability creates an exciting combination at an important time for the social housing sector. We look forward to building on our joint strengths in order to deliver increasing value to customers.”

The Civica Group has a successful track record of acquiring and integrating businesses with complementary skills and technology.

[chimers] 22/2/2017 10:53

The housing sector represents a strong niche for Civica.

[chimers] 22/2/2017 10:53

Neeeee Nawwwwwwww Neeeeeee Nawwwwwwww

Civica
A few days after their annual report hailed 15 years of unbroken, profitable growth (see 15 years of growth for Civica), Civica is celebrating securing another significant contract. Leeds City Council has awarded it a ten-year deal to supply the software to manage the 57,000 social housing properties run by Housing Leeds. The £2m deal represents Civica’s first housing management system win since it acquired Abritas in December last year (see Civica houses Abritas).

The housing sector represents a strong niche for Civica. In FY16 it added 28 new customers and improved revenues by 13% compared to the previous year. The acquisition of Abritas, which took place just after the end of their financial year, has helped Civica build on this position and it now provides housing systems for approximately 400 organisations.

[chimers] 22/2/2017 10:48

Civica
A few days after their annual report hailed 15 years of unbroken, profitable growth (see 15 years of growth for Civica), Civica is celebrating securing another significant contract. Leeds City Council has awarded it a ten-year deal to supply the software to manage the 57,000 social housing properties run by Housing Leeds. The £2m deal represents Civica’s first housing management system win since it acquired Abritas in December last year (see Civica houses Abritas).

The housing sector represents a strong niche for Civica. In FY16 it added 28 new customers and improved revenues by 13% compared to the previous year. The acquisition of Abritas, which took place just after the end of their financial year, has helped Civica build on this position and it now provides housing systems for approximately 400 organisations.

[chimers] 22/2/2017 10:46

I wouldnt want to stuck in this minnow overnight lol.

[chimers] 22/2/2017 10:46

Civica
A few days after their annual report hailed 15 years of unbroken, profitable growth (see 15 years of growth for Civica), Civica is celebrating securing another significant contract. Leeds City Council has awarded it a ten-year deal to supply the software to manage the 57,000 social housing properties run by Housing Leeds. The £2m deal represents Civica’s first housing management system win since it acquired Abritas in December last year (see Civica houses Abritas).

The housing sector represents a strong niche for Civica. In FY16 it added 28 new customers and improved revenues by 13% compared to the previous year. The acquisition of Abritas, which took place just after the end of their financial year, has helped Civica build on this position and it now provides housing systems for approximately 400 organisations.

[chimers] 21/2/2017 13:36

Note the deferred income, and borrowings are both quite high. So it looks like a business that is funded from favourable working capital (i.e. getting cash in from customers before it has to pay cash out), plus debt - that all looks a bit too precarious for my taste. So it's not for me.

[chimers] 21/2/2017 13:35

THIS IS WHY SLATER SOLD....


Here is what renowned ex accountant and share analyst and commentator Paul Scott had to say about CTP shares.
As its old news I hope he wont mind me repeating it here....

CTP the interim figures announced today look encouraging, until you look at the balance sheet, which looks very weak to me. NAV of £15.4m drops to negative -£18.4m after the £33.8m intangibles are written off.

Working capital seems very weak, with a current ratio of 0.55.

Note the deferred income, and borrowings are both quite high. So it looks like a business that is funded from favourable working capital (i.e. getting cash in from customers before it has to pay cash out), plus debt - that all looks a bit too precarious for my taste. So it's not for me.

[missjojo] 21/2/2017 13:21

Chrishutch tipped me and others solo at 0.28 made a packet and it is still rising, he or she gets it right often. I believe he said this is a good long term hold. Which looking at numbers seems about right. Not much priced into the price here. It would have to be going backwards to lose money so happy to hold.

[suneday] 21/2/2017 10:08

Still desperately trying to take yourself seriously I see

"Chimers 8 Feb '17 - 17:40 - 4143 of 4184 3 0
I EXPECT IT WILL FALL OF THE CLIFF TOMORROW 8AM!!

OH DEAR"

It didn't. Nor will it from here.

Catch you later.