Made Tech Share Discussion Threads

[chrisdgb] 11/10/2023 09:52

Building small position here to see how we go, lots of bad stuff looks baked in.....?!

[someuwin] 30/9/2023 13:20

Adjusted the long term chart to better show the woeful 90% fall here.

Exactly two year ago to the day...

First Day of Dealings

Made Tech Group plc, a leading provider of digital, data and technology services to the UK public sector, is pleased to announce the admission of its Ordinary Shares to trading on the AIM market of the London Stock Exchange ("Admission"). Dealings in the Ordinary Shares will commence at 8.00 a.m. today, Thursday 30 September 2021, under the ticker MTEC and ISIN GB00BLGYDT21

...

Admission Highlights

-- Made Tech raised gross proceeds of GBP85.4 million at a placing price of 122 pence per share.

-- The oversubscribed fundraising raised gross proceeds of GBP15.0 million for the Group, and GBP70.4m for certain selling shareholders.

-- Upon Admission, Made Tech will have a market capitalisation of approximately GBP180.7 million at the Placing Price....

[hedgehog 100] 30/9/2023 13:00

PTY (Parity) looks a good fit for MTEC:-

"Legacy technology is one of the biggest threats to the public sector. Whether you’ve started your transformation journey, or aren’t sure where to begin, ..."
"Made Tech provides Digital, Data and Technology services to the UK public sector"


"For over 45 years we have been connecting our clients with the best data, technology and transformation talent. We place over 1,200 skilled professionals each year as well as provide fully-formed teams to deliver projects and managed services."



PTY has just reported H1 revenue of £17.634M., and a pre-tax loss of £649K.

So at its current market cap. of just £2.83M. at 2.75p, PTY looks a rare opportunity for MTEC to acquire a sizeable competitor at a real knock-down price.

[masurenguy] 20/9/2023 12:35

EV of circa £13m after stripping out net cash. That equates to just 30% of sales and 20% of the outstanding order book. Sales shortfall is due to delays in some contracts within the public sector. They are also around break-even at the bottom line. Very undervalued at the current price.

[bmcollins] 20/9/2023 11:43

@Tomps2
I watched this yesterday & thought it was quite upbeat, difficult to know if Mr Market is right in being very cynical or if the CEO & CFO are correct in their optimism.
Personally I lean towards management as the customer base is very firm, even if rather stodgy, and these jobs do need doing as anyone who deals with local or national government knows only too well...
At this level it is surely just option money ?

[tomps2] 20/9/2023 10:29

Made Tech (MTEC) Full Year 2023 results presentation - September 2023

CEO Rory MacDonald and CFO Debbie Lovegrove, present full year 2023 results for the 12 months ended 31st May 2023.

Watch the video here:

Or listen to the podcast here:

[blackhorse23] 13/9/2023 21:59

Dropping below 10p , best value tech company at the moment is NCC , pays dividends & excellent growth

[colinroberts] 13/9/2023 17:15

johnsoho - yes worth a punt at these levels I think. I didn't see any nasty surprises in those results, so 'good value' I agree - they will need time IMO, so are more like one to tuck away for the medium/longer term. Good luck

[johnsoho] 13/9/2023 14:23

Have today purchased my first tranche of shares in ‘Made tech group’. I have to say this looks like a very interesting company with an amazing growth potential, but, as always, time will tell if I timed this purchase correctly!!Having read their audited results though they seem to be VERY GOOD VALUE. !!!

[weaverbeever] 13/9/2023 10:43

Great scsw tip. Doing great

[kemche] 13/9/2023 09:21

A work in progress. Neither outstanding nor a basket case.

[bmcollins] 13/9/2023 07:34

Profits forecast for 2024 is similar to 2023 which is a downgrade of previous forecast.
A good point though is they still see to have plenty of cash, unlike many aim companies at present.

[masurenguy] 13/9/2023 06:10

AUDITED FINAL RESULTS 2023

Made Tech Group plc, a leading provider of digital, data and technology services to the UK public sector, announces its audited final results for the year to 31 May 2023 ("FY23" or the "period").

Financial summary


FY23 FY22 Change
Revenue GBP40.2m GBP29.3m GBP10.9m
-------- -------- ---------
Gross profit GBP14.4m GBP11.3m GBP3.1m
-------- -------- ---------
Gross profit margin 35.81% 38.43% (2.6pp)
-------- -------- ---------
Adjusted EBITDA(1) GBP1.5m GBP2.6m (GBP1.1m)
-------- -------- ---------
Adjusted EBITDA margin 3.79% 9.04% (5.25pp)
-------- -------- ---------
Adjusted profit before tax(2) GBP1.0m GBP2.3m (GBP1.3m)
-------- -------- ---------
Sales Bookings(3) GBP69.9m GBP51.1m GBP18.8m
-------- -------- ---------
Contracted Backlog(4) GBP67.9m GBP38.2m GBP29.7m
-------- -------- ---------
Cash GBP8.5m GBP12.3m (GBP3.8m)
-------- -------- ---------

-- Revenue up 37% (organic) to GBP40.2m (FY22: GBP29.3m) and CAGR of over 80% over the last 5 years
-- Adjusted EBITDA at GBP1.5m (FY22: GBP2.6m) impacted by unexpected delays to scheduled work streams towards year end
-- Cash at 31 May 2023 at GBP8.5m (FY22: GBP12.3m), following a GBP3.1m strategic investment in new SaaS products and expanding capabilities
-- Contracted Backlog growth of 44% to GBP67.9m (FY22: GBP38.2M) and Sales Bookings up 37% to GBP69.9m (FY22: GBP51.1m)

Operational highlights

-- Trend of increased contract sizes continued during FY23, with two contracts won over GBP10m, seven over GBP5m and 10 over GBP2m during FY23, reflecting the Group's growing stature in the market
-- First of three, higher margin, recurring revenue SaaS products successfully launched in the year for local authority market, presenting a substantial market opportunity to generate recurring revenues at higher margins
-- Cost base right sized, reducing from 484 at the HY end to 430 at the FY end (FY22: 478) and further reduction in contractors from 10% at HY end to 8% at FY end (FY22: 35%)
-- Utilisation at 70% (FY22: 81%) impacted by changes at a number of our client organisations, which resulted in the rephasing of certain projects at short notice.
-- Carbon neutral status achieved during the year and clear ESG objectives set
-- Leadership team strengthened with appointment of Tim Bardell as Chief Delivery and Transformation Officer and Wayne Searle as Chief People Officer, as part of preparations for the next wave of growth

Post year end highlights and outlook

-- Revenue for FY24 expected to be in line with FY23, due to near term political and macro environment challenges. Digital transformation market expected to remain buoyant over the long term.
-- Firm focus on profitability with the Group reporting an improved adjusted EBITDA in the first three months of the new financial year and trading in line with expectations for FY24
--One of only 11 suppliers to win a place on Lot 2b of the new Digital and Legacy Application Services framework ("DALAS"), which is expecting to spend GBP700m-800m until September 2027
-- With a strong team, brand and market positioning, a reputation for excellent digital delivery, a clear strategy and a robust financial position, the board remains excited about the opportunities which lie ahead

Rory MacDonald, CEO, commented:"This year marked our first full year on the public markets, a significant milestone in our corporate journey. Despite the challenges of a turbulent macroeconomic landscape, we have made significant strategic progress. We have delivered another year of solid organic revenue growth, up 37% yearly. This continues our impressive track record of organic growth, with a compound organic annual growth rate ("CAGR") of c.80% over the last five years, a market-leading figure within our sector. We achieved a record level of sales bookings at GBP69.9m, driven by a substantial number of contract renewals and expanding our remit with key clients. This is a testament to the strength of our client relationships and the quality of our services. In addition to expanding our service lines, we have continued investing in intellectual property ("IP") solutions. This financial year, we spent GBP1.5m on developing three new SaaS products, specifically designed for the local government market. Our investment in IP solutions is a key part of our longer-term strategy to provide a comprehensive, end-to-end transformation offering which spans software and services. Our financial position remains strong, as we stay debt-free and had a cash balance of GBP8.5m at the end of FY23. Our immediate focus is improving profitability and operating cashflow, as we settle the business ahead of our next wave of growth."

[tomps2] 08/9/2023 10:11

Made Tech Group (MTEC) FY23 results webinar

Thursday, 14 September, 12:30pm

Rory MacDonald, CEO & Deborah Lovegrove, CFO will present full year results followed by Q&A.

Register here: bit.ly/MTEC_FY23_results_presentation

[masurenguy] 06/9/2023 06:08

Audited Final Results, for the year ended 31 May 2023, will be announced on Wednesday, 13 September 2023.

[colinroberts] 25/8/2023 16:39

Thanks for that timely link. So Richard Penny at Crux remains positive, which is reassuring. Both he and the Vox guy also seem to agree that it could be ripe for a takeover if the price doesn't rise; the chart, at least, suggests we are indeed past the bottom. I'm hoping to see the TU shortly, though I suspect it may be an update or two after that before we see anything really significant in the price. I've added a few more recently.

[masurenguy] 25/8/2023 15:44

Update:
Current MTEC Shareholders @ 25 August 2023

Rory MacDonald: 28.53%
Chris Blackburn: 14.29%
Sarasin and Ptnrs: 5.42%
Crux Asset Management: 5.05%
Stonehage Fleming: 5.04%
Luke Morton: 4.03%
Berenberg Bank: 3.38%
Canaccord Genuity: 3.35%
Highclere International Investors: 3.10%

Since April 2023 Crux, Sarasin and McDonald have all increased their respective positions. The stakes held by all of the other shareholders listed above remain unchanged.

Richard Penny of Crux Asset Management talks about Made Tech, starting @9.22minutes.

[parob] 17/8/2023 15:46

Finally a close above 18p. Hopefully a bullish sign.

[parob] 17/8/2023 09:59

18p has been previous resistance so it would be bullish to get a close above it.

[colinroberts] 16/8/2023 06:42

TU 19 Aug last year, so should be due any day. Any positive vibes may have caused a rise in the lead up to it. Recession here and in the US looking likely, so as a supplier to the public sector MTEC could be seen as something of a safe haven. If the share price recovers to anything in the region of what it was 6 or 12 months ago then the gain from here could be 100pc. Worth a play...

[kemche] 15/8/2023 12:31

An intimation in SCSW may have helped matters too.

[aishah] 15/8/2023 11:57

CEO bought almost 900k shares at 17.14p early July and insiders hold around 43%. EV of £15.7m against a mkt cap of £24.4m. Price has crossed 50 SMA

[masurenguy] 15/8/2023 11:18

Some chunky buys this morning. Undervalued at a market cap of circa £27m, including cash of circa £8m.