Syqic Share Discussion Threads

[eric76] 30/9/2014 13:59

14.5p's a nice target to aim at conservative or not. Just over 210p shareprice for a forward pe of 15 doesn't sound a silly target presuming they continue to deliver.
Nice to see a few buyers stepping up today too, maybe won't be this cheap for too long with so few shares on offer.

[mikeja] 30/9/2014 08:58

Adam,Allenby are forecasting 14.5p for next year and they tend to be very conservative.

[adamb1978] 29/9/2014 21:56

Thanks Mike. On that basis, agree that something around 9p looks about right. Next year could be 12p? Looks too cheap regardless

[mikeja] 28/9/2014 09:55

Spoke to Jamal.Last years H2 opex was driven by new hires in the UK.Should not re occur this year as most of the UK development work has been completed.SYQ is putting more direct resources into SE asia but the overall cost is cheaper.
Personally am holding my eps for this year to 9p or just under.

[mr roper] 26/9/2014 10:47

NED ups his stake. Good stuff.

[mikeja] 25/9/2014 11:58

Adam,broadly agree with your first 3 points.However you have to allow for a negative contrib from Maaduu and a higher no of shares after rights issue.
Incidentally it is rights sellers taking quick profits that is holding price back atm.Will speak to Jamal,hopefully tomorrow on opex.

[adamb1978] 25/9/2014 11:48

Quick question for people's expectations for the full year.

Assume:
- H2 turnover of £6.5m
- gross margin same as H1
- £200k tick up in admin costs

the big question then is what to pencil in for 'other opex' - its a line which is recent years has been far far higher in H2 but not sure what exactly it is.

If you assume £700k so that the full year 'other opex' is broadly similar to last year then using my assumptions above gives you 7.7p EPS

Any views on this 'other opex' line or my assumptions?

[masurenguy] 25/9/2014 11:35

This share is still below most peoples radar. The average daily trading volume is only 43K shares and the volume so far this morning is only circa 3 x that at 126K !

[m1das_touch] 25/9/2014 11:03

I think lack of dramatic share-price reaction is more down to general market malaise and lack of love for many AIM small-caps right now. Sentiment will turn though at some stage.

I think this is likely to start getting tipped and should also come onto the radar of small-cap fund managers. This is a great entry point in my view, particularly as all the 'froth' has gone from the share-price.

[saucepan] 25/9/2014 09:31

Thanks, mikeja :-)

[adamb1978] 25/9/2014 09:27

Surprised that the share price reaction isnt great (though I guess the results had largely been flagged). Difficult to see much downside though on a PE of about 6x or 7x

[mikeja] 25/9/2014 09:17

Short note out from Allenby.No surprises,maintains H2 revs at £5m,probably understating by at least £1.3m,allows company update to say trading ahead of forecasts!Even after drag from sorting Maaduu and increased share cap,I expect eps of 9p.

[mikeja] 25/9/2014 08:16

Kocinski,try and read up a bit before posting ill informed rubbish.

[dasv] 25/9/2014 08:13

yep the weighting to PTNP (the indonesian content license holder which resells to Indonesian telcos) will diminish as OTT revenues scale up. OTT meaning over-the-top or direct to consumer. The recent acquisition will also help to even out revenues from multiple sources and demographics. (imo)

[m1das_touch] 25/9/2014 08:09

Plus, receivables are going to be much less of a problem moving forward anyway, thanks to this: -

"In addition, we successfully launched our OTT service offering during the period, which we believe will benefit greatly from our recently announced partnership with Fortumo, enabling customers to pay us directly for content via their mobile phones."

[dasv] 25/9/2014 07:50

Kocinski7 - that's PTNP which has been dealt with in previous RNS's and analysed extensively by Allenby Capital (house broker).

--

I think the RNS reads very well. I don't have any criticisms - it looks bang on track to me.

[kocinski7] 25/9/2014 07:47

Trade receivable are way too high - short term 3.8m and another 1.6m long term which is higher than their total revenue for the 6 months. Sounds like the cash is not coming home and hence no dividend.

[eric76] 25/9/2014 07:39

Agree excellent results, 9-10p eps seems nailed on for the year so a rerating would appear warranted. PE of 15 wouldn't seem to be too outlandish on this growth I'd of thought?

[fairenough11] 25/9/2014 07:33

Excellent results as expected.

Very few shares in free float so any increased demand will have a very positive effect.

GLA.

[m1das_touch] 25/9/2014 07:30

Only one word to describes these results - cracking! Positive on every front and I can see little, if anything, of concern. Even the receivables are under control.

This is an excellent little growth share in my view and if they keep delivering like this, they have the potential to multi-bag from here.

[mikeja] 25/9/2014 07:27

important point is confirmation of revs running just fractionally under £1m per month.There should be a December boost of around 400k as last year.
Obviously the directors expect big things from the Maaduu acquisition which bodes well for future growth.

[mr roper] 25/9/2014 07:04

can't argue with those headline numbers..all going in the right direction


SyQic PLC Interim Results

SyQic PLC

25 September 2014

SyQic plc

("SyQic" or the "Group" or the "Company")

Unaudited interim report for the six months ended 30 June 2014

The Directors of SyQic plc, (AIM:SYQ), the fast growing OTT provider of paid video content across mobile and internet enabled consumer devices, are pleased to announce the Company's unaudited interim results for the six month period ended 30 June 2014.

FINANCIAL HIGHLIGHTS
-- Revenue increased by 424% to GBP4.59m (H1 2013: GBP0.87m)
-- Profit after tax increased by 2,643% to GBP0.96m (H1 2013: GBP0.035m)
-- Earnings per share increased by 1,700% to 4.14p from 0.23p
-- Net cash at 30 June 2014 of GBP0.45m (H1 2013: GBP0.12m)

OPERATIONAL HIGHLIGHTS
-- Launch of Yoonic OTT services for Bangladeshi and Filipino customers
-- Launch of Yoocard scratch card payment option

POST PERIOD HIGHLIGHTS

-- Acquisition of Maaduu, an online video-on-demand service providing high-value Korean content, for circa. GBP1m
-- Share placing to raise GBP1.85m
-- January and February payments totalling GBP0.63m received from PT Nextnation Prisma
-- Partnership with Fortumo enabling direct mobile billing of OTT customers on a global basis
-- GBP1.96m combined revenues recorded for July and August 2014

Jamal Hassim, Group Chief Executive Officer of SyQic, commented: "We are delighted with our performance during the first half of 2014, during which time we achieved strong growth in revenues and profits. In addition, we achieved improved payment terms with our largest client, PT Nextnation Prisma on current year billings and our long-term receivables continue to be reduced.

"Post the period end we announced the acquisition of Maaduu which, in-line with our strategy, will enable us to realign our portfolio of content to focus more on in demand Korean drama and music. The acquisition also expands our customer base, will enable us to exploit advertising revenue streams and is expected to provide a number of business synergies going forward.

"In addition, we successfully launched our OTT service offering during the period, which we believe will benefit greatly from our recently announced partnership with Fortumo, enabling customers to pay us directly for content via their mobile phones.

"These positive strategic developments, combined with the continuing growth of our core business post period end, enable us to look to the future with confidence."

For further information:

[mikeja] 22/9/2014 14:54

Eps 4.2p for H1.Hopefully confirm revs running over £1m per month.
If eps around 9p current p/e is still only 7 dropping to 4 next year.
Still 'Vastly undervalued"

[nashwan123] 22/9/2014 14:25

Limited stock available and all 62p gone. Now jumped to 65p and next stop 68p.

[nashwan123] 22/9/2014 14:10

Buying in 5k tranches. Price now up 7% with more to come!