Made Tech Share Discussion Threads

[bones] 28/11/2021 13:00

Just over one month later from post #5

Then:
Current share price of TRD = 107.5p, MCap £17M
Current share price of MTEC = 134.5p. MCap £199M

Now:
Current share price of TRD = 115p, MCap £18M (UP 7%)
Current share price of MTEC = 112p. MCap £166M (DOWN 17%)

Still an amazing disparity in market caps which I feel will continue to narrow with a lot to come in the upward direction of Triad. This is possibly a holder’s bias; however, it would be good to have a view from a Made Tech supporter on its own prospects. So far it appears, as supported by the enormous cashing out by the directors on IPO, that this was a classic case of cashing in during a hot market phase. Kudos to the MTEC owners on their reward!

Note that Triad released good interims in early November (4 weeks earlier than last year) and since then directors have been buying (some at 125p and some via options at 53.5p which they say they are not selling despite the tax bills involved).

[sunshine today] 17/11/2021 10:47

The IC article has clearly spooked a few.

Bones :

TRD are doing just what you thought.

Trading here is now under the float price.

[netcurtains] 13/11/2021 19:31

Made Tech valued at £180m Triad Group £18m #TRD

(look up MoJ for both companies)


You couldn't make it up.

[sunshine today] 13/11/2021 18:34

Article in investors chronicle this week, is not that sure of prospects here, written by an former analyst who is definitely on the ball.

He does mention the city institutions may know more, than is in the public domain, so room for surprise on the upside I would have thought.

The article compares Made Tech with two bigger players.

[bones] 23/10/2021 10:40

Keep an eye on Triad (TRD) too. They do similar work for HMG and have been in there for years ((MOJ, Ofgem, etc) plus have good contracts in the private sector (eg, Westcoast, a huge UK IT co), plus they are the contracted partner to Stratis, a UK based blockchain co which is advising HMG on a GBP Stablecoin (the real excitement longer term at TRD).

Yet, TRD has a bigger turnover than MTEC, makes profits which MTEC has struggled to do to date per their prospectus.

Yet, market cap of TRD is less than one tenth of MTEC. I believe that’s partly because of the promotion around the IPO.

MTEC directors sold into the IPO. TRD directors paid good money in the market earlier this year to buy TRD shares.

I am not demeaning MTEC here. They clearly have bright prospects, especially now they are funded for expansion. However, I am saying TRD are ludicrously overlooked due to their size and lacklustre recent history. But that has changed as they have furiously recruited permanent staff over the last two years to meet demand.

Rather than go on, TRD’s interims are out late November and I am hoping these highlight the many areas of progress bubbling under the surface and I expect stellar financials. I’m suggesting other investors in this space might look out for these to see if there is a case for investment. The drawback is illiquidity in the shares.

Current share price of TRD = 107.5p, MCap £17M
Current share price of MTEC = 134.5p. MCap £199M

I’m putting that here for my own interest as I want to revisit it in the future and see if the market caps have narrowed between the two to reflect that they are really similar businesses at the moment.

[caterham88] 13/10/2021 07:46

The other company in this space is TPXimpact (TPX, formerly The Panoply). That company's share price has fallen 25% over the last 5 months without apparent reason. Could it be a buy? Or is there a reason I'm not aware of?

[someuwin] 13/10/2021 07:34

Looks like MTEC are stealing KNOS's lunch.

KNOS used to be the goto software house for DVLA projects.

KNOS started at this sort of level and are now £multi-billion valuation.

Will MTEC follow the same trajectory?

Premier Miton must think so - they took 7% of MTEC last week.

[caterham88] 13/10/2021 07:33

Given last year's turnover was £13.3m, I'm surprised to note the share price has hardly moved, given the contract adds 25% to turnover, assuming its spreadevenly over the 2 years.

[quepassa] 30/9/2021 10:05

recommend you open new thread.
this thread for another company which once had the same ticker

[robertball] 30/9/2021 08:57

20% opening boost

[masurenguy] 22/9/2016 10:47

New thread to cover change of name, chart tracking and EPIC

[masurenguy] 16/9/2016 16:32

The new EPIC for the company is GATC.L

[mrchriss] 14/9/2016 12:29

So the resolution passed. Anyone know the percentage breakdown of votes?

[spectoacc] 09/9/2016 14:05

Illiquid, AIM.

[death by donut] 08/9/2016 15:21

Why is the spread so big on this stock?

DbD

[spectoacc] 02/9/2016 08:35

Curiously, both name and ticker appear to have changed back now. Odd.

[mrchriss] 02/9/2016 08:22

What is the point in an EGM on the 7th for shareholder approval of the name change if they've gone ahead and changed the name anyway?

[spectoacc] 01/9/2016 07:04

Welcome, Gattaca. You chump.

[quepassa] 22/8/2016 11:02

But the question you have to ask yourself is whether it is all just science fiction.

ALL IMO. DYOR.
QP

[davebowler] 22/8/2016 10:45

Equity Development;
Matchtech Group

Solid H2 outperforming UK staffing market

Aug 4, 2016

Matchtech is the UK's number 1 specialist engineering (60% group NFI) and number 3 technology (split 23% IT & 17% Telecoms) recruitment agency, providing contract, temporary and permanent staff. 74% of NFI comes from placing contractors (9,000 on assignment), with the remaining 26% from permanents.

Several economists think there will be a recession post BREXIT, albeit we suspect there will be only a temporary dip in GDP, with normal activity levels returning once the initial shock has passed. Regarding Matchtech we would argue that the business is far less cyclical than the broader staffing sector, since most of its infrastructure, automotive, telecoms, IT/software and aerospace customers are enjoying secular growth drivers, with exporters receiving a further boost from Sterling's 10% devaluation.

Even if we are wrong and there is a prolonged decline in output, then this is still likely to affect permanent placements far more than MTEC's approx. 9,000 strong contractor base - many of whom are working on long term government-funded capital projects (eg Crossrail) and/or infrastructure programmes within regulated industries (eg water, rail, etc).

This downside resilience was again demonstrated this morning, following news that adjusted PBTA for the year ending July 2016 would be in line with management expectations, with LFL FY16 NFI up 1% to £72.6m - thanks to a solid second half (+3% vs -1% in H1'16) on the back of continued strong demand for skilled engineers (H1: 7%, H2: 5%) even after the EU Referendum.

Overall this was a very creditable performance, especially given the headwinds experienced elsewhere in the industry. Nonetheless, we have shaved our FY16 adjusted PBTA and diluted EPS numbers (excluding discontinued activities) by 4% to £20.4m (vs £21.3m) and 43.7p (vs 45.6p) respectively. 0ur adjusted FY17 PBTA forecast has been trimmed too - this time by 14% to £19.7m (vs £22.9m) reflecting relatively flat underlying NFI growth of 0.6% to £73.0m vs 1% LFL in FY16. Accordingly, our share price target falls from 621p to 460p per share.

On valuation the stock at 345p appears cheap, trading on forward EV/EBITA and PE multiples of 6.8x and 8.2x respectively vs 8.4x and 12.0x for the peer group average, as well as offering a 6.7% dividend yield (1.8x cover), supported by healthy cash generation, attractive NFI conversion rates and a robust balance sheet.

[spectoacc] 19/8/2016 14:43

Persisting with spending some of our money on the rebranding I see, EGM notice out today.

[gazman1] 05/8/2016 06:00

The only way this business will grow significantly in the short term is through acquisition - re branding look at what Wilkinson did with the Vedior family of brands with Randstad UK - disaster. DYOR IMHO