Superb results. I still hold. Further to go.
Also found some proper research on it Online.
h2radnor.com/wp-content/uploads/2025/02/H2R-Made-Tech-H125-results.pdf |
I wonder if MTEC will make a play for TIA. It would be a good complimentary business and the latter's lifecycle business is hugely profitable. |
Gaining some momentum here now - largest daily trading volume over the past 3 months. |
Zico is the KOD |
where is ZICO ? |
 TechMarketView
Digital public sector specialist Made Tech has delivered a robust first-half performance, with results ahead of recently upgraded market expectations. For the six months to end November 2024, revenue grew 14% to £21.8m (H1 FY24: £19.1m), while adjusted EBITDA increased 29% to £1.8m, representing an improved margin of 8.2% (H1 FY24: 7.3%).
The standout metric was sales bookings, which more than tripled to £42.0m (H1 FY24: £12.6m), surpassing the entire FY24 total of £36.0m (and north of the £32.6m booked in H1 FY23). This impressive performance was boosted by Made Tech's largest ever contract win - a £13.2m, four-year deal with the Department for Education's Standards and Testing Agency. The contracted backlog has subsequently grown 44% to £80.8m.
Made Tech strengthened its position in the criminal justice system, securing several notable wins. Conversely, the company was disappointed not to win a place on the Digital Capability for Health (DCfH) 2 framework but, regardless, notes opportunities to expand its footprint in the health sector over the coming years.
The business's early-stage software products division, focused primarily on local government, is seeing slower sales cycles than anticipated. However, Made Tech reports strong advocacy among existing clients leading to upsell opportunities, suggesting the potential for this to become an increasingly important focus area.
Against a backdrop of market consolidation, notably, CGI's acquisition of BJSS (see here), Made Tech highlights its position as a strong independent player with a clearly defined market proposition, asserting that the differentiation will be beneficial in enabling it to capture an increased market share.
Made Tech's four strategic missions - modernising legacy technology, accelerating digital service delivery, driving better decisions through data and automation, and enabling technology skills - continue to align well with government priorities. The company sees particular opportunities around data infrastructure and platforms, with strong signals that the government is taking data challenges more seriously.
The improved performance reflects Made Tech's investment in commercial operations and processes over the last two years. The business generated positive free cash flow of £1.7m during H1, with net cash increasing to £9.1m (FY24: £7.6m).
Made Tech expects to achieve double-digit revenue growth and positive free cash flow for FY25, with both metrics ahead of recently upgraded market expectations. The pipeline remains healthy, supported by the Government's continued focus on using technology to transform public services.
The company has also strengthened its leadership team, appointing Vicki Chauhan as Managing Director at the start of the year. Chauhan brings 26 years of public sector experience from roles at NTT DATA, BAE Systems Applied Intelligence, and others, and will be crucial in driving Made Tech's next growth phase. |
Bowlicious! |
Made Tech Group Plc, a leading provider of digital, data, and technology services to the UK public sector, posted bumper unaudited half year results for the six months ended 30 November 2024 this morning. Revenue up 14% at £21.8m (H1 FY24: £19.1m) which is now expected to be ahead of recently upgraded market expectations of £38m. Sales bookings totalled £42.0m up 233% on the same period a year earlier, new business is accelerating. HY Adjusted EBITDA was up 29% to £1.8m (H1 FY24: £1.4m) with Adjusted EBITDA margin increasing to 8.2% (H1 FY24: 7.3%). As a result FY25...
...from WealthOracle
wealthoracle.co.uk/detailed-result-full/MTEC/1201 |
Bought a few of these sharykins |
Share price has doubled in 4 months. Lovely looking chart curve. |
"Having upgraded back in November, we have another opportunity today, following a strong H1, during which sales grew +14% y/y to £21.8m and EBITDA is up +29% to £1.8m. Exceptionally strong sales execution was key to this, as per +233% bookings growth to £42.0m, following several ‘seven figure’ deals. We think MTEC can maintain this rich vein of form in view of its well-developed pipeline and how Government initiatives should continue to benefit. While we have upgraded forecasts today, we believe the company could do better still if current momentum continues. We also take this opportunity increase our target price to 38p ~1.1x EV/FY26 Sales or 10x (unmodelled) FY27 EBITDA the latter reflects our preliminary assumption that EBITDA margins are progressing towards 10%." Harold Evans, Singer Capital Markets. |
This is the bit I like
Strategic and Operational highlights
● Revenue up 14% at £21.8m (H1 FY24: £19.1m) which is now expected to be ahead of recently upgraded market expectations6 and sales bookings of £42.0m up 233% (H1 FY24: £12.6m)
Nearly 25% of market cap is cash! |
Good progress - Sales up 14%, EBITDA up 29% and Cash up 20%
Interim Results for the six months ended 30 November 2024
Strong trading performance ahead of recently upgraded expectations
Strategic and Operational highlights
● Revenue up 14% at £21.8m (H1 FY24: £19.1m) which is now expected to be ahead of recently upgraded market expectations6 and sales bookings of £42.0m up 233% (H1 FY24: £12.6m)
● Adjusted EBITDA up 29% to £1.8m (H1 FY24: £1.4m) with Adjusted EBITDA margin increasing to 8.2% (H1 FY24: 7.3%); FY25 Adjusted EBITDA now expected to be ahead of recently upgraded market expectations
● Robust balance sheet with £9.1m of net cash (FY24: £7.6m)
● Strategic drive by Government, outlined in the recent Budget, to use technology to transform public services in an agile and cost-effective manner means that Made Tech is well placed to deliver long term growth
● Client retention remains strong, with the Group retaining all its clients in the Period, expanding remits and securing renewals
Current Trading and Outlook
● Strong trading performance expected for FY25 underpinned by £80.8m Contracted Backlog, with the Group on track to achieve double-digit percentage annual revenue growth for FY25 and free cash flow positive for the year
● A strong sales pipeline, active bids, and Government stated priorities indicate a positive outlook for FY26 and beyond
● Structural growth drivers for the market remain strong and the board looks to the future with confidence
Rory MacDonald, CEO of Made Tech, said: "It is a pleasure to announce these results to shareholders. This improving performance is a direct result of the investment we have made into our commercial operations and processes over the last two years. We are on track to deliver positive free cash flow and double-digit revenue growth in FY25 and the business is in great shape to benefit from new public sector digitalisation programmes, which are expected to be announced in the UK Government Spending Review in the Spring. The structural growth drivers for our market remain strong and the board and I are increasingly confident in the outlook for the business in FY26 and beyond." |
Where is all the selling coming from ? |
Hit a 21 month high today ! 😊 |
Fair probability of 35p tomorrow and 40p by end of week. |
Interims due next Wednesday (5/2). |
From the above article;
To demonstrate the work and our plans for the next few months, we will be hosting an online presentation on the afternoon of Thursday 13th February 2025. |
Great find zico
News is getting better all the time , with the interim results next Wednesday which have been brought forward this year most likely due to trading being well ahead of forecasts.
It's just a matter of time before the shares really take off. |
More good news from the company:
27/01/2025
Made Tech launches innovative Building Safety Levy reporting service
We have created a new product to make applying for, tracking and paying the new Building Safety Levy easier than ever.
We’ve recently been working with several local authorities, including the London Borough of Barnet and The Planning Portal, as well as engaging with stakeholders such as MHCLG, TfL and GeoPlace, to design and develop an innovative and truly modern payment and reporting service for the new Building Safety Levy. This levy seeks to raise £3bn over the next 10 years to remediate building safety issues following the Grenfell Tower tragedy and was recently announced that Local Authorities would need to start processing the Levy later this year.
Made Tech Building Safety Levy
Made Tech Building Safety Levy is delivered as a fully secure and fully hosted and managed SaaS service. It provides full management of the levy journey from initial planning application to Completion Certificate and MHCLG reporting.
Full article: |
Closed @ 27.90p ! |
Good to read about value of contracts won Z1CO. Look forward to the update. |
The company has won contracts worth more than £11m in January 2025 alone that have NOT been rns'd.
Share price will continue to rerate towards the 40p to 50p mark.
Cash is also likely to have increased from 31/08/2024 when it was £8.6m. |
AISHAH
Sales booking ( contracts won ) at 30/09/2024 were £27m and increased to £37.5m by 20/11/2024.
Since the AGM sales bookings will have increased to around £50m.
A trading update will give an up to date sales bookings , which will be a good indication how much contracts they have won. |
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