Made Tech Share Discussion Threads

[pugugly] 04/2/2022 11:18

Hi bones - A quick marker for you. Bid offer now 93/95 MCap £141M.
Downward momentum appears to be increasing.

Memo self:- All the glistens with SCWS tips maybe not be gold but the ice at the start of the bobsleigh course!!

[bones] 21/1/2022 17:20

I will look in again after 6 months, late April. Hopefully MTEC and TRD will have made some more progress.

[bones] 21/1/2022 17:03

Thanks Pugugly. Good to have someone comment on the MTEC fundamentals. I agree they look very expensive hence my November comparison exercise to compare it with what looked like an overlooked but very similar stock in the same sector, Triad.

As it has been three months since I started that comparison for my own reference, I’ll update it as of today (end of week closing prices):

Three months later from post #5

Then (as stated at the time so no hindsight):
Current share price of TRD = 107.5p, MCap £17M
Current share price of MTEC = 134.5p. MCap £199M

Now:
Current share price of TRD = 165p, MCap £26M (UP 53%)
Current share price of MTEC = 121p. MCap £179M (DOWN 10%)

Similar accounts, still a big disparity in market caps. I cannot tell the future but so far the thesis is playing out. Let’s see if MTEC can show some blow out numbers to justify its rating, or will TRD keep catching up?

[pugugly] 21/1/2022 11:29

Bones - Many thanks - Come to have a look as written up in SCSW but looks expensive.
2021 Revenue of £11m - Gross profit of £4.6m transated into LOSS of 781K

OK I note that for half year to 30th November management state that "Margins have remained in line with management expectations, with H1 Gross Margin at 39.1% (FY21 H1: 45.6%) and a return to profitability following the operational investments made in FY21"

Howevver significant reduction of 6% in margin and no quantification of period of profitability - ?? for the whole 6 month period or now profitability on a monthly basis.

To be on the kind side and assume unquantified bottom line profitability (if it was significant I would assume managemetn would have shouted about it) a market cap of £180M is (imo) very much on the high side. .

[pugugly] 21/1/2022 09:55

Can anyone remind me of the float price?

[john09] 21/1/2022 06:55

All you post about is TRD on here . do one

[sunshine today] 21/1/2022 06:54

No but both this and TRD are in the same sector.

This share came to the market after directors sold shed loads on admission.

TRD directors are doing the opposite, buying shares.

Now Made Tech may be a fantastic company, they do have a great track record, however are they worth ten times TRD ?

[john09] 21/1/2022 06:39

Is this the TRD Thread then

[sunshine today] 21/1/2022 06:28

TRD now roaring.

TRD :

RNS yesterday, 20th (after market close), Director buying.

That’s the 7th round of buying over the last two years.

Sector average rolling PE 40

TRD rolling PE 18.9

A re rate, just to the sector average, will double the share price, and more.

Never issued more shares in over 20 years

Pays dividends

Premium listed

Partnered with a British blockchain company. For Enterprise BAAS ( Blockchain as a service ).

5 Microsoft golds

Loaded with cash

Doubled permanent staff during COVID

[netcurtains] 19/1/2022 12:02

Hi,
I'm trying to draw up a list of quoted UK companies (AIM or FTSE) that are in the same REAL sector as Triad PLC.

So far I have:
TRIAD
KAINOS
MADE TECH

Are there one or two more (eg Software houses that create bespoke software solutions for third parties)?

Cheers Net...

[paleje] 07/1/2022 08:38

Re-tipped by Midas on Wednesday, the Mail usually stir a bit of interest, not so for now it seems

www.dailymail.co.uk/money/investing/article-10371181/MIDAS-SHARE-TIPS-2022-Tech-Medica-Hornby.html

[bones] 28/11/2021 13:00

Just over one month later from post #5

Then:
Current share price of TRD = 107.5p, MCap £17M
Current share price of MTEC = 134.5p. MCap £199M

Now:
Current share price of TRD = 115p, MCap £18M (UP 7%)
Current share price of MTEC = 112p. MCap £166M (DOWN 17%)

Still an amazing disparity in market caps which I feel will continue to narrow with a lot to come in the upward direction of Triad. This is possibly a holder’s bias; however, it would be good to have a view from a Made Tech supporter on its own prospects. So far it appears, as supported by the enormous cashing out by the directors on IPO, that this was a classic case of cashing in during a hot market phase. Kudos to the MTEC owners on their reward!

Note that Triad released good interims in early November (4 weeks earlier than last year) and since then directors have been buying (some at 125p and some via options at 53.5p which they say they are not selling despite the tax bills involved).

[sunshine today] 17/11/2021 10:47

The IC article has clearly spooked a few.

Bones :

TRD are doing just what you thought.

Trading here is now under the float price.

[netcurtains] 13/11/2021 19:31

Made Tech valued at £180m Triad Group £18m #TRD

(look up MoJ for both companies)


You couldn't make it up.

[sunshine today] 13/11/2021 18:34

Article in investors chronicle this week, is not that sure of prospects here, written by an former analyst who is definitely on the ball.

He does mention the city institutions may know more, than is in the public domain, so room for surprise on the upside I would have thought.

The article compares Made Tech with two bigger players.

[bones] 23/10/2021 11:40

Keep an eye on Triad (TRD) too. They do similar work for HMG and have been in there for years ((MOJ, Ofgem, etc) plus have good contracts in the private sector (eg, Westcoast, a huge UK IT co), plus they are the contracted partner to Stratis, a UK based blockchain co which is advising HMG on a GBP Stablecoin (the real excitement longer term at TRD).

Yet, TRD has a bigger turnover than MTEC, makes profits which MTEC has struggled to do to date per their prospectus.

Yet, market cap of TRD is less than one tenth of MTEC. I believe that’s partly because of the promotion around the IPO.

MTEC directors sold into the IPO. TRD directors paid good money in the market earlier this year to buy TRD shares.

I am not demeaning MTEC here. They clearly have bright prospects, especially now they are funded for expansion. However, I am saying TRD are ludicrously overlooked due to their size and lacklustre recent history. But that has changed as they have furiously recruited permanent staff over the last two years to meet demand.

Rather than go on, TRD’s interims are out late November and I am hoping these highlight the many areas of progress bubbling under the surface and I expect stellar financials. I’m suggesting other investors in this space might look out for these to see if there is a case for investment. The drawback is illiquidity in the shares.

Current share price of TRD = 107.5p, MCap £17M
Current share price of MTEC = 134.5p. MCap £199M

I’m putting that here for my own interest as I want to revisit it in the future and see if the market caps have narrowed between the two to reflect that they are really similar businesses at the moment.

[caterham88] 13/10/2021 08:46

The other company in this space is TPXimpact (TPX, formerly The Panoply). That company's share price has fallen 25% over the last 5 months without apparent reason. Could it be a buy? Or is there a reason I'm not aware of?

[someuwin] 13/10/2021 08:34

Looks like MTEC are stealing KNOS's lunch.

KNOS used to be the goto software house for DVLA projects.

KNOS started at this sort of level and are now £multi-billion valuation.

Will MTEC follow the same trajectory?

Premier Miton must think so - they took 7% of MTEC last week.

[caterham88] 13/10/2021 08:33

Given last year's turnover was £13.3m, I'm surprised to note the share price has hardly moved, given the contract adds 25% to turnover, assuming its spreadevenly over the 2 years.

[quepassa] 30/9/2021 11:05

recommend you open new thread.
this thread for another company which once had the same ticker

[robertball] 30/9/2021 09:57

20% opening boost