| Date | Subject |
|---|
05/6/2020
15:40 | qs99: US market recovery and economic news today, may help CLL....let's see
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20/5/2020
08:39 | davebowler: Cenkos-
Navigating positively through disruptions
Cello’s AGM statement should reassure that FY20 trading to date remains
robust, underpinned by “solid” growth in net revenue in Q1/20. While
Q2/20 saw certain early disruption, overall progress has been made to
maintain revenues alongside effective cost controls, thus a creditable
H1/20E result is expected. The 23% fall in the shares since February’s
highs, appears to overly discount for the actual reality of this disruption.
Despite some disruption in Q2/20, the Cello Health division continues to perform:
Q1/20: Cello Health delivered “strong” overall net revenue and profit growth over
Q1/20, benefitting from ISS’s acquisition in August 2019. On a LFL basis, excluding
ISS, organic growth has been described as “good”, continuing recent momentum.
Q2/20: Commentary on trading post the COVID-19 outbreak suggests of continued
progress, with new win rates being maintained, leading to a continuation of the
typical six month visibility to bookings going into H2/20. This comes despite some
disruption in activities requiring physical proximity (healthcare conventions, expert
focus groups etc), which are being digitally delivered or have been put on hold.
Some COVID-19 benefits: New projects have arisen as result of the pandemic, with
Cello Connect, the digital and creative marketing capability transferred from Signal,
delivering COVID-19 related public health campaigns, while newly acquired ISS is
also benefitting from new US regulatory drug approvals and FDA fillings.
Signal expected to be more impacted, but it’s far less material this year: Cello Signal
generated only 16% of net revenue in Q1/20 following Connect’s transfer at the start
of the year. Over Q2/20 and beyond, trading is unsurprisingly expected to be
challenged by COVID-19, given certain clients are engaged in troubled sectors (eg
travel, leisure), thus some delays and cancellations are expected. As such, cost
control measures have, and continue to be undertaken, where necessary.
Balance sheet remains strong: Today’s update confirms Cello maintains a “solid” net
cash position. This comes despite a seasonal working capital outflow in Q1/20 and is
inclusive of a £0.7m payment for the final earn-out payment on Defined Health and
FY19A’s £1.1m final dividend. The implies positive cash generation to date this year.
Valuation: Prior to the COVID-19 outbreak, Cello traded at a forward P/E of 16.0x in
late February, a multiple we feel is merited. If Cello were to deliver a FY20E result
largely consistent with FY19A, a price today of 151p p/s (+32% upside) would be fair.
|
07/4/2020
12:37 | coopstock: Cutting the dividend just one week after announcing the award of all those new share options for senior directors. All in this together - I don't think so. Pretty poor.
|
07/4/2020
08:41 | poikka: I suppose that the idea of cutting the divi so soon after announcing it, is designed to demonstrate solidarity with those taking a pay cut.
The saving, even if it is (hopefully) temporary, would be some £2m.
1. It sounds like a noble gesture - 'we're all in this together'.
2. As the situation hasn't really changed, nor has the outlook, since the results, it looks odd. They could have just not increased the divi at the results.
3. Companies cutting divis without very good reason are removing cash from the economy when it's really going to be needed, and there are many people who rely on divis for their sole, or nearly sole, income.
A wrong decision, therefore, in my book.
|
06/4/2020
18:08 | poikka: (Alliance News) - Access Intelligence PLC on Monday reported a widened loss for financial 2019 on increased expenses but assured that the first quarter of financial 2020 has been encouraging.
The stock was trading 3.0% higher at 51.00 pence each on Monday afternoon in London.
For the year to the end of November, the PR, communications and marketing software firm recorded revenue of GBP13.4 million, a 51% rise from GBP8.9 million reported the year prior with recurring revenue accounting for 97% of revenue realised.
However, pretax loss widened to GBP2.9 million from GBP1.7 million. Gross margin was 75% from 70% the year prior.
Recurring administrative expenses increased to GBP9.2 million from GBP6.2 million and the company recorded non-recurring administrative expenses of GBP1.8 million. In October, GBP3.3 million was raised through the placing of 6.3 million shares at 52p each.
Access Intelligence did not propose a dividend payout, unchanged from the year prior.
Looking ahead, the company said it has seen increased demand for Vuelio stakeholder monitoring, media management and Pulsar's online audience analysis amid the Covid-19 outbreak. It added that it has implemented measures to reduce financial risk and has responded fast and proactively to secure business and open new opportunities during the period of disruption.
"2019 was another year of strong growth for Access Intelligence. Our commitment to growth was evidenced by the acquisition of Pulsar and further product enhancements to the Vuelio and ResponseSource platforms, said Non-Executive Chair Christopher Satterthwaite.
Vuelio provides monitoring, insight, engagement and evaluation tools for social media, while ResponseSource is a media database provider. Access Intelligence bought social media analytics software business Pulsar from Cello Health in October.
"Pulsar is a particularly exciting addition because it strengthens our technology, data and research capabilities while opening US and global opportunities. It adds further breadth to the Access Intelligence portfolio and customer base providing resilience as we navigate the immediate uncertainty bought by Covid-19," he added.
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18/3/2020
08:18 | poikka: Not much at all, so far. In the present climate, a 7.2% divi rise is welcome.
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03/3/2020
12:18 | zipstuck: As the major drug companies are being squeezed on supply chains you have to wonder how this might affect CLL
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18/7/2019
19:20 | qs99: nice uptick today. A guarded upgrade IMO, yet market hasn't really digested it....more to come, maybe increase in divi? DYOR
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18/7/2019
10:26 | qs99: if that is an average of the peer group, how long before someone takes "a look" at CLL? or management get bored with the share price and do something about it?! DYOR
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21/1/2019
09:20 | zipstuck: Reasonable divi with some growth to come
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PLUS1
