Made Tech Share Discussion Threads

[tomv33] 03/5/2023 10:31

Luceco hasn't been doing too well either since tipped by SCSW

[weaverbeever] 02/5/2023 17:23

Super dry and XLmedia for a start. Utter dog mess

[saucepan] 02/5/2023 14:18

Prescient, bones; indeed, cash flow is a very important metric.

Moreover, this is another SCSW 2023 Nap tip that has turned into something of a nightmare.

[eagle eye] 02/5/2023 12:17

Today's Singer note doesn't make for happy reading.
Existing forecast to FY May24 was revenue £50m, PBT 4.1m and EPS of 2.6p.
This has been revised down to revenue £43m, PBT 1.1m and EPS of 1p.
What was this year's revenue forecast has now been shunted out to next year.
Please check your own figures.

[wh1spa] 02/5/2023 08:42

TIA are doing it right in this space and way too cheap.

[hamidahamida] 02/5/2023 08:07

Management Bunch of liars

[mortal1ty] 02/5/2023 07:48

Down 50pc today possibly. 1.5m ebitda. 10c that, and add cash would five a 20min market cap.

[masurenguy] 02/5/2023 07:17

Trading Update

Made Tech, a leading provider of digital, data and technology services to the UK public sector, announces a trading update ahead of the full year ending 31 May 2023 ("FY23").

The Group has traded well so far during H2 FY23, with improved utilisation levels and continued momentum in our Sales Bookings(1) and Contracted Backlog(2). In particular, March 2023 delivered a very strong financial performance.

Recently, however, several of the Group's clients have moved the start date of work packages, which had previously been scheduled for April and May 2023, into FY24. As a result of this rephasing, which the Board believes is connected to the new public sector budget year, the Group now expects to report lower than anticipated revenue for FY23 of c. GBP40 million.

Gross Margin in H2 FY23 to date has improved, following the Group's strategic move away from using contractors and improvements in billed utilisation. The Group's fixed cost base, however, is set up to match previously anticipated revenue levels. The recent rephasing of activity has, accordingly, disproportionately impacted the expected adjusted EBITDA(3) outcome for FY23, which is now estimated to be at least GBP1.5 million.

The Company's balance sheet remains strong with net cash, following continued investment in product development, of GBP7.9m as at 30 April 2023. The sales pipeline for our new IP product lines is very healthy: our first client is live and in implementation.

Rory Mac Donald, Chief Executive Officer, commented:"We continue to make significant progress as a business, delivering substantial revenue growth and progress against our strategic priorities. We have our strongest ever Contracted Backlog at GBP61 million (30 November 2022: GBP47.8 million), an increase of 130% in Sales Bookings to a record GBP75 million (30 November 2022: GBP32.6 million), and a portfolio of new and existing clients, who are positive advocates for our business. Our new IP product lines are in their early stages but starting to build momentum, with two live products, whose sales pipelines are developing nicely. Whilst recent events are very disappointing, the Group has a strong pipeline of new business opportunities, from both new and existing customers, for which it is very well positioned. I am as committed as ever to building a successful company which delivers significant long-term value to all stakeholders and remain confident in the prospects of the business."

[dr biotech] 02/5/2023 07:16

Previous Market expectations for FY23 as published on Bloomberg: Revenue GBP43m and Adjusted EBITDA GBP3.9m


Now 40m and 1.9m not great. Overvalued flotation.

[bmcollins] 19/4/2023 10:11

Appreciated, that was never on my radar but does look as if it perhaps should be.
I will look into it further.

[masurenguy] 19/4/2023 08:55

Quite agree. You might also like to checkout AOM (I hold) too. 😎

[bmcollins] 19/4/2023 01:44

Thanks for that.
I do think this company is way under valued by the market, am hopeful that the next figures will be encouraging.
I will hold & wait as my in price is low twenties.

[masurenguy] 19/4/2023 01:03

SF is owned by management, staff and a publicly quoted family investment trust.



I find that the FT shareholders listing is often out of date.

[bmcollins] 18/4/2023 16:57

That is v useful, it is not quite what the FT has, which is ;
Premier Fund Managers 6.97%
Berenberg investment management 3.38%
Cannacord wealth 3.22%
Chelverton 3.08%
Independent I.T. 2.91%
M&G 2.68%

Normally they are pretty accurate, they match with yours apart from the individuals who I guess are directors/management, with the exception of Fleming, I wonder if that is an individual or an FM ?

[masurenguy] 18/4/2023 16:32

Current MTEC Shareholders: 18 April 2023
Rory MacDonald: 27.93%
Chris Blackburn: 14.29%
Stonehage Fleming: 5.04%
Luke Morton: 4.03%
Berenberg Bank: 3.38%
Canaccord Genuity: 3.35%
Sarasin & Partners: 3.12%
Highclere International Investors: 3.10%
Top 8 shareholders: 64.24%

[masurenguy] 18/4/2023 15:40

You may be right but there was no RNS issued confirming the previous investment(s) by SF. Since they were already above the 3% reporting threshold prior to yesterdays top up, there should have been an RNS noting that they had crossed the 3% threshhold at some point in the past unless they already owned those shares prior to the September 21 IPO.

[bmcollins] 18/4/2023 12:09

They are a relatively new shareholder who appear to be building up a reasonable holding.
If you check on the FT holdings site they do not appear on it, they usually update about every 6 months.
To me that is a reasonable piece of news.

[masurenguy] 18/4/2023 11:29

Stonehage Fleming are not a new shareholder. They just increased their stake from 4.86% to 5.04%

[bmcollins] 18/4/2023 08:50

Apart from yesterdays RNS which appears to show a new buyer appeared on the TR1

[masurenguy] 18/4/2023 08:00

The shareprice has slowly drifted down by 30% over the past 8 weeks despite positive interims reported on 23rd Feb and with no further news since then.

[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: