Made Tech Share Discussion Threads

[battlebus2] 07/6/2022 09:45

Bought a few this morning, maybe the low point we will see 🤞. DYOR ETC

[sunshine today] 22/3/2022 14:58

This company has to get on as many U.K. Government frameworks as it can.



It has won a place on the above, but lot 1 only.

Considering it was a £4BN framework that might be a disappointment.

[sunshine today] 17/3/2022 10:25

Staff morale must be sinking here, with the share price.

[sunshine today] 09/3/2022 15:07

About Made Tech

Made Tech is a high-growth provider of digital, data and technology services to the UK public sector. Founded in 2008 and with a headcount of over 300 people across multiple UK locations, Made Tech provides services that enable central government, healthcare and local government organisations to digitally transform.


So can’t bid as a SME for government contracts .


250 max employees

[tomboyb] 01/3/2022 10:00

Look to pick this up at 25p -

Can't see any point at these levels

[sunshine today] 01/3/2022 05:25

It also strikes me that if MTEC can’t deliver staff to agreed government contracts then it’s reputation will quickly be in tatters.

It gets worse, if, as is the case, MTEC contracts are ALL within the public sector.

[sunshine today] 01/3/2022 04:54

Yet TRD is still at a massive discount even after yesterday’s horrible disappointment here yesterday.

[sunshine today] 01/3/2022 04:44

The MTEC business model.

Established a few years ago.

High overheads, with heaps of offices scattered around the country, that eat away at gross margins reducing them to near zero.

Inexperienced staff recruitment teams, with growing churn.

Failing to deliver enough staff to clients, in the public sector.

IR35 causing problems

Falling gross margin.

Major up front training costs

No dividends

Complete loss of investor confidence

////////////////////////////////////////////////////////

The TRD model

Established 32 years ago premium listed on the LSE

With the Group's sharp focus on its consultancy credentials, and with a business model that is extremely well-suited to the needs of the market, I am optimistic about the prospects.

Growing Gross margin.

Remote working ,happy staff

IR35 not an issue with permanent staff.

New staff members hired by in-house experienced team in a structured manner.

Overhead base stable subject only to general wage inflation in a tight labour market.

Pays growing dividends from profits.

Non stop director buying

[terminator101] 28/2/2022 17:57

Wish I'd spotted this overvalued fluff much sooner.

[tomboyb] 28/2/2022 15:28

Not sure why there are buys at 53.5p -

I can buy at BID -

[tomboyb] 28/2/2022 15:27

Problem at this cap is the upside -

I can buy 125k at 53p, which is the Bid -

Expect this to fall below 50p -

[bones] 28/2/2022 15:19

The vendors timed the IPO perfectly. Can’t blame them for cashing out when offered a bucketload of cash.

[bones] 28/2/2022 15:14

Yes, Dave4545, as we’ve been discussing in this thread from November (post 5 onward), comparing to Triad which has a similar business but makes profits on similar turnover but valued at a tenth of Mtec until today.

What is also telling is that not one investor has appeared here to promote the stock on its own thread. The opening post really just advertised the new float but there has been no case for it put forward apart from highlighting ludicrous newspaper tips which have lost their readers a stack.

[sunshine today] 28/2/2022 15:12

They also have v high overheads , heaps of offices.

[dave4545] 28/2/2022 15:07

ebitda £1.2 mil interims next to £80mil+ market cap and that's after a 40%+ fall

Stacks of sub £15 mil stocks doing the same or better.

[bones] 28/2/2022 14:59

Institutions shelled out £85M at a market cap approaching £200M on the back of small turnover but ambitious growth projections. The big red flag was that most of that money went to the founders and selling shareholders and only £13M went to help the company.

[74tom] 28/2/2022 14:25

@dr biotech, was going to say the same thing - Seraphine was a shocker as it was tipped early Feb & warned about 10 trading days later. Made Tech was a bargepole due to the material director sales at IPO - £27m from memory. Still looks overvalued at £81m cap…

[bones] 28/2/2022 13:49

My guess is they make a loss in FY22. Showing a puny £121k profit on £13M turnover for the half year just announced but saying their expectations for late FY22 and early FY23 are crimped.

I bet the loss will be big too given the £3M outflow of cash in this first half which must be likely to continue in the trend.

[sunshine today] 28/2/2022 13:43

Look for the previous owners to take this private at 4P within two years.

How can you possibly add that number of staff, plus the 20% churn, in a booming consultancy market.

While at the same time engaging on new products for new clients.

Margins, gross will be eroded and net will be the odd 1% -3% in my view.


So look for £25M of turnover and £200,000 profit

[dr biotech] 28/2/2022 13:29

This was tipped a few months back in a well known tip sheet, I had a look but fortunately didn’t bite. Guess they are expanding but valuation still seems bloated.

Has to be said scsw is on a poor run. Also tipped seraphine which has absolutely cratered.

[tomboyb] 28/2/2022 11:50

There was always a good reason for the owners to sell 74M shares to the market at 122p at the IPO. What a coup for them. The brokers earned their money there.

£90mill for owners -

Quite a coup -

[sunshine today] 28/2/2022 10:04

Well done Bones

[john09] 28/2/2022 09:42

Dodged a bullet here

[sunshine today] 28/2/2022 08:57

No one here can say, the we’re not told .!!