Ecsc Share Discussion Threads

[fillipe] 07/5/2021 10:59

Nevertheless, a very fair decent rise over the last 4 weeks.

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[fillipe] 05/5/2021 09:42

A nice share to have, but difficult to "turn a shilling" on it with that spread.
The company must like it that way ...

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[ali47fish] 29/3/2021 06:58

ian mann buys

[jane deer] 25/3/2021 19:41

Cerrito I very much agree with your assessment. Shares look cheap to me - but I don't see the presentation exciting someone who has not bought yet to buy in to the story. I was very glad to see CFO and COO involved. Your one-man band comment struck home. I was disappointed in the recent "corporate overview" video, which consisted of Ian Mann speaking in the video booth. It would have been a great opportunity to actually show the sites in Bradford and Brisbane as well as other employees.

[cerrito] 25/3/2021 17:09

Read the RNS closely, read the Allenby report which I thought was good and listened to the IMC presentation, where as always Ian was v professional. Good that he got Lucy and Gemma involved as one of my concerns is that this is rather a one man band.
It seems a matter of slow steady progress but cannot see a catalyst for a resting of the shares.
Seems to me a question of two steps forward one step back with the share price.
No plan to buy or sell and plan to go back to sleep on this.
If there is a face to face AGM in London would hope to make it but see no need to go up to Bradford.

[cerrito] 24/3/2021 08:44

I can understand why you are saying what you are saying Harlowdavood, but am reserving judgement till I have gone through the figures, read the Allenby note and heard him tomorrow at IMC.
I see at about 815, the price to buy was 83.5p and I decided to pass.
Good that they put up the Allenby note on the website.

[harlowdavood] 24/3/2021 08:07

mdr order book is static since 2018, lots of competition in the market.

profit due to efficiencies forced on them through covid, refund due to R&D previous investment, and rights issue cash injection. So likely a one off.

Will likely make a loss this year unless they do another rights issue again or they keep better controls on staff costs.

[andyview] 24/3/2021 07:21

Some good numbers in there imho:

Highlights

-- Managed Detection and Response (MDR) recurring revenue growth of 22% to GBP2.42m (2019: GBP1.98m)


-- MDR revenue up 6% to GBP2.73m (2019: GBP2.59m)
-- Adjusted EBITDA* profit GBP0.4m (2019: break-even)
-- Organic revenue growth down 4% to GBP5.66m (2019: GBP5.91m) due to short-term COVID-19 related impact in Q2

-- Cash of GBP1.12m at period end (31 December 2019: GBP0.35m), including GBP0.42m of COVID-19 related medium-term government support relating to VAT and PAYE deferral. The Group's bank facility of GBP0.5m remains unutilised.

[andyview] 08/3/2021 11:17

Beat me to it!

[macc1] 08/3/2021 11:16

Hi all,

Here's a new investor overview video for ECSC:

[andyview] 08/3/2021 11:07

There’s a few nibbles today and the longer term chart looks like a positive upturn and the formation of a nice bowl starting imho.

Anyway did I mention that horrendous spread !

Gla

[andyview] 17/2/2021 10:25

I thought really good news and have added few...i would add more except the spread is an absolute nightmare..

[jane deer] 17/2/2021 10:19

At least today's RNS was a bit more consequential than the one on 8 Feb.

Today's definitely is positive. I make that 5 MDR constract announcements since the start of 2020 - mostly 3 year contracts - and with a total value of £2.66m. So I will be interested to see what the next order book total is. There seems to be some momentum on the MDR contracts.

Also the 11 new clients in January on the assurance side, seems like a tick up from H2 2020, when there were only 42 new contracts (following 48 in H1 2020).

[cerrito] 08/2/2021 16:35

If there was a prize for the most inconsequential RNS put out by a company that of today and indeed that of Jan 13 would be in the running.

[dibbs] 22/1/2021 22:10

The massive spread and poor liquidity isn't very encouraging when considering buying a few.

[zalex87] 22/1/2021 13:14

Party is already over

[harlowdavood] 21/1/2021 14:00

Isnt £0.4m what was earned from the share issue? If you remove that doesnt this show overall less revenue, no profit, no change in cash on hand?

[its the oxman] 21/1/2021 08:39

Yes why not give order book size , and confirm growth is indeed there. Interested and will watch but remain cautious here. Wide spread makes for a big loss usually if all is not what it seems.

[jane deer] 21/1/2021 08:24

Today’s trading update seems reasonable enough. Implying in H2, £0.21m of cash generation (stripping out the benefit of tax deferrals)and >£0.35m of adj EBITDA. Indeed, the end year- cash balance (exc tax deferrals) of £0.7m looks healthy and would imply free cash flow has been broadly flat over the whole of the Covid affected 2020.

The market cap is not very demanding and with the company resuming recruitment, if the top line begins to grow significantly in 2021 (which does not sound implausible), I would expect this to be reflected in cash generation and then the shares would look very cheap.

A pity that today’ update does not include the size of the orderbook - as this would (hopefully) have given some numerical substance to the CEO’s optimistic comments.

[maddox] 21/1/2021 08:23

The birds in the trees will tell you that cybersecurity is a hot market. We just need ECSC to demonstrate it can take advantage and build long-term, profitable relationships with a growing number of clients and this will fly.

The building blocks are in place, reaching profitability is a confidence-building milestone. If SG&A costs are kept under control we should start to see the operational gearing put us on an attractive growth trajectory.

[zalex87] 06/1/2021 11:44

Is this going to go anywhere sooner or later?

[onjohn] 08/11/2020 16:53

Tern Is carp