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GHT Gresham Technologies Plc

162.50
0.00 (0.00%)
Last Updated: 00:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Gresham Technologies Plc LSE:GHT London Ordinary Share GB0008808825 ORD 5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 162.50 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Gresham Technologies Share Discussion Threads

Showing 12876 to 12898 of 12975 messages
Chat Pages: 519  518  517  516  515  514  513  512  511  510  509  508  Older
DateSubjectAuthorDiscuss
01/12/2023
16:33
They're in completely different areas.

The Spirent contract is at the front end to do with customer rollout of products.

"...to significantly accelerate delivery of its new products, version upgrades, and services to its customers, while ensuring strict compliance and enjoying major productivity gains and cost savings. The project, which includes design, install and configuration of a new testing infrastructure will commence immediately bringing benefits to our customer."

That's nothing to do with Clareti Control or Connect which are back office products for reconciliation of transactions and regulatory oversight, communications and filings.

wjccghcc
01/12/2023
16:24
I used to work in software in the banking industry a long time ago now. There are so many complex areas and Spirent's offering may not be a direct competitor. Even it is I see no reason for concern. There are all sorts of reasons why a customer will choose one supplier over another. You cannot win them all.
richjp
01/12/2023
16:11
Thanks for that perspective. I have left a message this morning with the company and it says the appropriate person will get back to me. No response so far. Should GHT provide such a service?
gerihatrick
01/12/2023
14:01
gerihatrick, I don't think Spirent and GHT address the same problems. IIUC Spirent aim to enable companies to set up a secure network, where GHT aim to help companies manage and match data that is exchanged across those networks.

But my opinion is based on just a quick scan of the Spirent web site.

gnnmartin
01/12/2023
12:59
Tempted to buy back in but feel this has further to fall imoIt is also extremely illiquid
scepticalinvestor
01/12/2023
12:59
Can buy now in volume at 118
scepticalinvestor
01/12/2023
12:31
I was surprised to see a Tier 1 financial organisation has signed up a multi year contract with Spirent and this is a whole new area for them. My question is does this reflect on GHT in that we provide systems to banks?
gerihatrick
23/11/2023
17:38
Thu 23 Nov 2023

(Sharecast News) - The boss and finance director of Gresham Technologies picked up some shares in the company.
According to the outfit, Ian Manocha, the company's chief executive officer, bought a further 5,000 shares at 121p while finance director, Tom Mullan, bought 12,385 shares at 120p, both on 22 November.

That took their respective holdings in the company to 0.199% and 0.090% of the company's share capital, respectively.

A week before, Gresham had forecast that full-year 2023 revenues and earnings would be in-line with market expectations.

Management also said that it continued to have a "solid" pipeline of opportunities from both new and existing customers, and was expecting to close additional Clareti subscription business before the end of the year.

Top Director Buys

Gresham Technologies (GHT)
Director name: Mullan,Tom
Amount purchased: 12,385 @ 120.00p
Value: �1,4862.00

Please do your own research as always

qantas
23/11/2023
14:43
They answered my question and have bought.
amt
20/11/2023
08:13
Can Directors buy at the moment, they were buying at 160p back in March ?
amt
19/11/2023
07:42
My guess is that Kestrel might be the large buyer. I think they own 23%.
amt
18/11/2023
16:54
I think the market reaction may be due to the cautious 2024 outlook, rather than the discontinuation of the legacy business.

Both Techinvest and TechmarketView in the past have referred to GHT's software as being transformational in GHT's market area. I know however from my own past experience in IT sales it doesn't matter how good your product is, it can still be very difficult to dislodge incumbent suppliers. That is the reason I feel for the stubbornly low organic growth and the disappointing share price performance.

As amt and others have pointed out, the business model is very sound indeed but I think the company is now a sitting duck for a takeover. Discontinuing the legacy business makes it even more so as the company has a cleaner structure.

If a bid does come I just hope that more than one buyer is interested so that we might get a bidding process.

richjp
18/11/2023
14:45
I reckon it will drop further with lack of news.Back on my watch list - target buy in at abt 100p
scepticalinvestor
18/11/2023
08:10
I managed to load up at around 1.20p before the big buyer moved in.
Thanks to all the bears who made it possible. Just hope I timed it right but always a risk of a takeover so didn't want to leave it too long.

amt
17/11/2023
16:13
WJC 3 times sales would still be a market cap of 130m so at worst that's a 30% uplift. Compared to Sopheon it would be 150m so share price of 1.80p.
As you say a much better business and likely that several companies would like to add it to their portfolio

amt
17/11/2023
16:07
800,000 shares bought early afternoon.
amt
17/11/2023
16:04
It was disclosed in the risk factors and they always said it was a twelve month contract but you make a fair point.

To be honest, I expect they didn't know until the renewal discussions began. Pretty much every bank is rationalising their IT budgets in this macro environment and with Floe development winding down now it's being launched, ANZ clearly took the view that 13% margin for freelance IT contracting could be reduced significantly by using a local operator.

I guess we should be grateful it lasted this long and allowed Clareti to get to a cashflow positive position.

Regarding value, I don't disagree in the short-term. Having said that, Sopheon was just bought for 4 x ARR / 3 x sales and IMHO Clareti is a much more attractive business.

wjccghcc
17/11/2023
16:03
Redwing, Management have been flagging the loss of legacy revenue for years. I think they have been surprised that it survived all this time. They could have classified as discontinued business which would have been more accurate.
Dont forget the change in model over the last few years to annual subs so the recurring turnover should be valued at 5x

amt
17/11/2023
15:56
Thanks WJCCGHCC - I stand corrected on the low amount of remaining non-Clareti revenue. That is definitely some reassurance for holders, although I would argue that a current EV of c£96m more than adequately values £40m of annual revenues for now.

I am also left wondering why management did nothing to flag the potential loss of these legacy revenues to shareholders earlier? After all, they have been working very closely with ANZ on both the Floe product and Clareti for some time. Surely this possibility was well known by management? A cynic might argue that they wanted to get the positive Floe launch out in the market first.

redwing1
17/11/2023
15:46
WJC thanks for clarifying. I am even more relaxed now and will keep adding.
It's a pity that another British company that had been building Clareti revenues for over a decade is likely to be bought out. Its almost like a royalty stream.

amt
17/11/2023
15:45
It looks like the institutions agree. They've hoovered up all the retail sales from this morning and now I can't get a quote to buy in any size but can sell pretty much any amount.
wjccghcc
17/11/2023
15:43
The 12.8m is all the legacy revenue. So they have lost 8.5 so 4m more with income of about half a million.
The Bulls are relaxed because legacy was just a bit of a bonus and I was always surprised how it seemed to go on for longer than expected.

amt
17/11/2023
15:41
I think you forgot to take out the 8.5mm contracting revenues. There are minimal non recurring legacy revenues remaining.

FY22 Clareti recurring 27.4mm
FY22 Clareti nonrecurrng 8.1mm
FY22 nonClareti rcrrng. 4.3mm
FY22 nonClareti nonrcrrng 8.9mm (of which 8mm was the ANZ contracting)

SCM now forecast FY24 revenues of 44mm of which 33mm (75%) are Clareti recurring. Non Clareti ARR was 3.2mm at H1 and that's the VDT license reselling which is continuing.

That leaves 7.8mm for non-recurring revenues which is almost all the Clareti Services which fluctuate depending on implementations etc.. I reckon legacy non-recurring revenues (which are the oneoff costs associated with the VDT license sales) are below 500k.

I wouldn't say I was relaxed but this was going to happen at some point. Yes it would have been nice if it had continued for 5 years generating 5-6mm of cash but that's more than been compensated for by the 15mm reduction in the mkt cap.

Floe's costs are equal to its 2mm ARR so that's a wash. What you have left is a 31mm ARR sticky Clareti business growing at 10% yoy generating 4-5mm of FCF.

What value the market assigns to that compared to a buyer looking ahead a few years seems too low IMHO.

wjccghcc
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