Made Tech Share Discussion Threads

[tomps2] 01/3/2023 15:37

Made Tech (MTEC) interim results presentation - February 2023

Made Tech CEO, Rory MacDonald & CFO, Deborah Lovegrove, present the interim results for the six months ended 30 November 2022. They achieved strong organic revenue growth and a record Contracted Backlog.

Watch the video here:

Or listen to the podcast here:

[dr biotech] 26/2/2023 14:40

Ok I’ve set up a guild, one +1 coin to join (that is the minimum allowable). I can probably donate that to anyone that hasn’t got any.

[dr biotech] 26/2/2023 11:02

Would anyone be interested in a scsw guild? Would have to be subscribers only -answer a short question “main tip jun21” etc which subscribers could easily answer.

[masurenguy] 26/2/2023 10:34

Good post IanDippie. We are all responsible for our own investment decisions. If we invest in a tip from any subscription site, fellow investor or even friend, that is entirely our own decision. They are not responsible for the decisions that we make on our own account and consequently there is no reason for any of them to show contrition when a tip performs badly any more than claim credit for our success when it performs well.

[iandippie] 26/2/2023 09:06

I have been a SCSW subscriber for a number of years. Yes, they pick some turkeys, but they get a lot more right than wrong. You could do worse than cherry pick only stocks from their virtual portfolio. At least with the portfolio you can guarantee they will revisit the recommendation on numerous occasions. Also, their portfolio success doesn't lie. Up 375% in 8 years. Their recommendations may not have performed well as of late, but that's against a backdrop of the AIM index having fallen 35% from its summer 21 high. Hard to buck a trend like that when most of their tips are AIM stocks. As for showing contrition. Show me a single tipsheet that does....

[aishah] 25/2/2023 09:40

They had a poor last year. It's a good starting point for unearthing potential small cap baggers but quite a bit of follow on work needs to be done once they've highlighted a share.

The chest thumping on twitter this year is a bit off-putting imo.

[simmsc] 25/2/2023 00:01

Twitter is a marketing channel for scsw. So they will shout about successful tips there. And their tips are often volatile stocks with big potential and a bit of execution risk (as they recommend things early to give us a chance to get in). This kind of stuff can get hurt in a falling market (as investors look for safety). You can't expect big rises with low risk.

[masurenguy] 24/2/2023 18:31

Good post hungryzulu. We all have to make our own judgement calls on any tips or recommendations and we are exclusively responsible for our own decisions. MTEC looks a lot more interesting with a shareprice in the low 30's and they are investing for longer term growth. To some extent this is now a "jam tomorrow" share but in terms of their future potential it has to be a conviction investment, which I bought into 6 months ago and have subsequently added to since.

[hungryzulu] 24/2/2023 16:46

SCSW is a good source of research, but you still need to engage your brain.
You didn't need a medal to know high street companies weren't the place to be, especially highly leveraged ones.
Best cherry pick your best ideas and avoid banana skins.

149.3m shares x 35p = market cap £52.25m
£9m cash is equivalent to 6.7p/share or around 17% of market cap.
Singer suggests revenue visibility for FY 2023/24 is around £35-40m, which equates to 70-80% of £50m forecast.

Not so interesting at 118p, but happy days at 35p IMHO.

[dr biotech] 24/2/2023 15:12

SCSW gave some absolute land mines last year. Seraphine, Joules etc. Tipped this at 118 too. They get a lot of things right, but should show some contrition for the poor picks too

[aishah] 24/2/2023 14:23

SCSW have been vocal about their tips which have done well as the markets have recovered this year. They do need to tone it down imo and keep level headed. Small caps have a tendency of biting you where it hurts!

I'm happy to hold here. They have to deliver a decent H2 though.

[oapknob1] 24/2/2023 11:43

Whose whining. Did you get the short dm then ? Maybe not.

[saucepan] 24/2/2023 11:04

As posted earlier, SCSW, tweeted this on 16 Feb:

I can see #MTEC taking off next week when it reports H1 results on Thursday, 23 February. One of hxxp://scsw.co.uk NAPS for the year and its flying high.

Something clearly went wrong with the rocket launch, though SCSW are strangely silent on the matter :-)

I am only taking a dig at tips sheets, not MTEC. 30p looks as if it has provided support, so the correction of the past couple of days could prove to be healthy longer term. The new uptrend is intact if a higher low has now been printed.

[bmcollins] 24/2/2023 10:51

Ian
You are quite correct, these boards are for exchange of information not for whingers or whiners moaning about unproven allegations.
I bought these at 22, didn't sell at 40 as I wanted to see the results first & ended up selling half yesterday at a bit over 34.
I think they could have a further run but prefer to have less cards on the table at present.

[iandippie] 24/2/2023 10:45

I bought at 30. Wish I had the foresight to buy at 22 but didn't. Made 20%. Happy with that as there is now better value elsewhere imo. If you can't accept that there are opposing opinions and you just want to see people post stuff that mirrors you own opinions, then you are in the wrong game pal.

[oapknob1] 24/2/2023 10:20

It was shorted from 42 by a group. Funny how the negative posts appeared.

[oapknob1] 23/2/2023 17:16

Load up burn the shorts.

[weaverbeever] 23/2/2023 16:02

Load up. Great entry price

[oapknob1] 23/2/2023 14:13

Did you get the short Dm ?

[aishah] 23/2/2023 12:23

TechMarketView

Made Tech: Strong H123 growth and positive outlook

Made Tech has continued its strong growth trajectory in the six months to end November 2022 (H123). The company, which provides digital, data, and technology services to the UK public sector grew revenue by 76% - all organically – to £20.6m.

The shape of the business is changing as Made Tech strengthens its relationships with existing clients and takes on larger and longer-term deals. Having taken on nine new clients during the year, the number of active clients increased by 19 to 23. Notably, the number of clients deemed strategic – and contributing between £2.5m and £10m of annual revenues – increased from five to ten. Made Tech points to an increased mandate with the Home Office during the year, and a similar story at both the DVLA and the DLUHC since the year end. The average contract size has increased by 69% to £1.5m.

Central government, local government, and healthcare remain the strategic focus markets, representing 67%, 20%, and 13% of revenues respectively, and all growing during the period. As Made Tech continues to pursue opportunities in these markets, it has invested in the expansion of its User Centred Design and Data teams, stating that they now make a “material contribution”. In addition, it has expanded its Advisory team and is slowly building its Managed Services offering.

In line with management expectations, the adjusted EBITDA for the period suffered – down 58% to £0.5m. The issues cited include increased contractor numbers, client delays to bid submissions and ongoing project work. However, management seeks to reassure that there will be a margin improvement in H2, following improved cost controls, and a reduction in contractor numbers (now standing at 10% vs. 15% in H122, and at the target level).

The continued investment in software product development is something to watch. Made Tech has three products in development and points to the first client being secured. We can expect revenue to be generated from these offerings from 2024 onwards. We would also expect a positive impact on the profit margin if Made Tech is successful in driving forward with these repeatable propositions. In the meantime, a positive outlook for the rest of FY23 and FY24 is backed up by a 24% increased in sales bookings to £32.6m and a “record” contracted backlog of £47.8m (up 54%).

[iandippie] 23/2/2023 11:04

Cash down.EDITDA down.Margins down.No details as to why. Perhaps this is all expected seeing as they think they will meet meet expectations, but come on, these results could not be any briefer! Not impressed as a shareholder.This has also nearly doubled since beginning of Jan, so gut feel is that the share price has caught up with events for now.Time to exit and move on.GLAH.

[qs99] 23/2/2023 08:57

Bones, wells said, i've made a nice turn here and am now out. For time being.

£0.5m EBITDA and cash outflow as you say and market cap £54m, with cash that's fine, but they need to start showing they can make some serious margin to keep that market cap IMO

DYOR and GLA!

[bones] 23/2/2023 08:55

The founder directors won’t lose sleep over the LTIP cancellation. The directors took over £70M cash from investors on the overhyped IPO. The company only got £13M cash at the IPO and over £4M of that has already been spent. There’s a lot of work to be done by the company yet to make themselves profitable. Jury is out for me.