Made Tech Share Discussion Threads

[bones] 12/1/2023 11:46

Made Tech’s interims for the half year to 30/11/22 will be out in February I guess. I will be keen to see how much they have been affected by the clearly documented holdups that occurred at government departments in the summer in awarding contracts and dealing with bids. Even MTEC themselves made a brief passing comment when they announced their final results on 12/9/22 but so far there has been no indication how it might have impacted on their performance for the half year to 30/11/22 during which all the Government leadership problems happened. As MTEC is 100% public service oriented, they were probably affected in some way. It’s possible the market has already discounted this situation in MTEC’s share price. I do not know.

Both TPX and TRD, probably the closest publicly quoted competitors of their size (there are loads that are privately owned too), commented on how they were affected quite badly when they published interims before Christmas.

Here is the anecdotal commentary from all three to date. I will be interested to hear what MTEC has to say next month because they should have the latest information on whether these problems at government level have resolved themselves since the summer months. TRD commented in December that they had started seeing bids and wins resuming from October onwards.

Made Tech (MTEC) passing comment on 12th September 2022:
”We are mindful of the recent changes within government and the potential impact of this may have on our public sector clients…”;

TPXImpact (TPX) passing comment on 30th November 2022
”As expected, we have seen some delays in commencing programmes given the political backdrop…̶1;

Triad (TRD) passing comment on 1st December 2022:
”…a near paralysis in some areas of government procurement as a result of political turmoil…”;

Disclosure: I currently hold TRD but not MTEC or TPX. The above is really just a heads up and I want to know what one of the bigger players in this space has to say on current conditions. If it’s all clear on the public sector front then all three stocks are probably buys (but not until I see the MTEC interims!)

[dave4545] 12/1/2023 10:58

Reminds me of AGL as in a overhang play.

Both around 22.5-23.5p with a lot of support but lots of day traders jumping in and out for coppers.

AGL cleared their seller and is not 30p in 4 days.

Think Mtec will do similar when they clear their seller.

[bmcollins] 12/1/2023 10:25

A watched pot never boils !
I'm long but not absorbed enough to try to second guess every tick...

[maytrees] 12/1/2023 10:14

Good morning
Presumably that sub 2m sale this morning has kept the share price down but it seems to be moving up now.

[truthcaller] 11/1/2023 14:15

20m contract rns coming

[qs99] 11/1/2023 13:07

Looks v. odd, have added a few more at these levels....DYOR!

[ridingthewaves1] 11/1/2023 12:46

Is there a leak of news

[gymratt] 11/1/2023 12:37

Thought I'd join you folks this morning. Overhang cleared(?). Plenty of chunky buys going through...

[gusrezo] 09/1/2023 14:40

there's something that look at odds with this company: it needs to keep on hiring staff to meet the backlog of contracts it has been awarded, but the number of employees at Linkedin seems steady, and there're comments on Glassdoor by employeesabout redundacies ¿?

[qs99] 09/1/2023 12:08

Have a small holding here, would like larger, but concerned at continued share price weakness, any views? Thanks in advance

[dr biotech] 09/1/2023 11:51

The largest holding in my active portfolio is worth about 1years take home. My average holding is 3months salary. So I’d say that was a fairly small position, particularly for a director.

Off the top of my head, Amanda Blanc (Aviva CEO) had to buy shares equivalent to a years salary. Obviously big difference between CEO and NED. But I know plenty of companies where the execs never buy shares but are gifted them in ridiculous LTIPs or similar.

Of course personal circumstances may affect any director.

[dennisbergkamp] 09/1/2023 11:38

Fair point hatfull

D

[scalpface] 09/1/2023 09:15

I don't know how long she has been there, but retail buyers regularly put in way more than that, even if it is for a trade. Point being is that, all BOD should have significant holdings if they believe in their product or services!

[hatfullofsky] 09/1/2023 08:25

90k (Gross) takes home 60k, she spent 2 months salary on a share buy. I'd say that is something.

[bmcollins] 06/1/2023 12:58

Great to hear this, I bought a few last week after looking at their last accounts and could not see why they were under pressure the last 2 or 3 days, I do agree about a double bottom, that is often a really good sign. If the sales in pipeline predictions are true (they seem feasible given what they have achieved last year) then we could be in for a real ride here.

[parob] 06/1/2023 12:42

Bought in heavily this morning.Analysts Harold Evans and Kevin Ashton at Singer Capital Markets have a strong Buy out on this group's shares, with a price objective of 76p.Their estimates for the current year to end May 2023 are for sales uplifting from £29.3m to £43.0m, with the adjusted pre-tax profits gaining from £2.3m to £3.4m, raising earnings from 1.6p to 2.3p per share.For the coming year their figures are for £50.0m sales, £4.1m profits and 2.6p earnings.Furthermore, the brokers are reckoning that a lot more contracts could be in the offing, which backs up their 76p price aim.hTTps://masterinvestor.co.uk/equities/small-cap-catch-up-data-castings-cybersecurity-and-domains/Plenty of cash. Director paid 48p for shares back in March.PLUS, love a double-bottom on the chart, especially from these unloved shares.This could be a great long-term hold which you can just leave, not worry about and watch grow over many years.

[aishah] 06/1/2023 11:32

Thanks Masurenguy, good to join you here. Added on the weakness today. Volume surge seems to have cleared a hang over. fcst PE 8.5, PEG 0.2 and EPS growth 87%. Could well be a SCSW 2023 NAP imo

[masurenguy] 23/12/2022 08:38

Welcome aboard AISHAH - good to see you invested here.

[aishah] 23/12/2022 08:32

I've picked up a few here based on low fcst PE, PEG and PSR.

[cottoner] 01/12/2022 12:46

From Outlook in Final Results published in Sept


We are mindful of the recent changes within government and the potential impact of this may have on our public sector clients. However, our high level of order bookings, significant proportion of contracted revenues and the embedded and long-term nature of our client relationships and contracts give us confidence in our prospects for the coming year and beyond.

=======================================

Since then a £10m contract with the Home Office has been awarded.

[bones] 01/12/2022 12:45

I don’t think they (Triad) are blaming covid or Ukraine as such but rather the government delays in procurement. The chairman opened up saying there wasn’t much point rehearsing the usual thing that other companies have been saying about those global factors because, well, they are global and everyone is affected! It’s the government procurement thing that probably meant that a number of projects didn’t get going until after the half year end of 30/9/22 which may not have been visible in June to such a bad extent.

[dr biotech] 01/12/2022 12:41

I’ve never seen a company with delayed orders ever catch them up. I did see one company recently say they have been “reprogrammed” to the following year. New word to avoid saying underachieving.

I had a cursory look at the previous June statement at triad and they made no mention of problems with Ukraine/Covid (they actually said the opposite). The results are to the end of sept, so only has one month of truss. Not saying things were great before that but even this lot said they had a strong start to FY23 which overlaps triads period of underperformance.

Will be interesting to see what this lot do at their next statement. Hardly an inspiring investment so far.

[bones] 01/12/2022 11:57

Re Triad, Looks like a blip due to the government having no leaders over the summer and govt departments unable to sign off projects over the summer. The company says its second half has seen a “strong upturn” in projects commenced and bidding made so it suggests govt machinery may be moving again. That should help MTEC as well.

[dr biotech] 01/12/2022 09:05

Some pretty dismal figures from triad today (-22%) hopefully not going to be sector wide.