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Share Name Share Symbol Market Type Share ISIN Share Description
The Panoply HO. LSE:TPX London Ordinary Share GB00BGGK0V60 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 90.00p 85.00p 95.00p 90.00p 90.00p 90.00p 2,000 08:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Software & Computer Services - - - - 38.07

The Panoply HO. Share Discussion Threads

Chat Pages: 1
Thorough breakdown in SCSW this weekend. That'll get people interested come Monday..
Thought I'd start this thread. Don't normally like to invest in IPOs/recently IPOed companies, so having taking a nibble at TPX this post will serve as a future warning for me if it all goes wrong. The group is a combination of four IT services businesses. The owners of these four companies have not cashed out - all took shares in the IPO. Stated purpose of the listing and group strategy is to become an acquisition vehicle for small IT services business. They have already made one small acquisition since listing. Stated criteria for acquisition targets is that they must be debt-free and profitable, with revenues around £10m (first acquisition only had £2.2m revenues). TPX will use shares to pay for acquisitions and aims to do ~5 per year. My reasons for investing: Growing industry - "digital transformation". Organic growth from original four businesses seems strong. It's not expensive. Current market cap is £37m. Cash post-IPO was £5m. No debt. Half year results to Sep-18 showed revenue of £10.1m (+48% y-o-y); operating profit of £1.3m (+16% y-o-y). PAT was £1.4m for the period. The company has already flagged that group central costs will reduce the operating margin going forward, though they haven't given any guidance on this as far as I can see. Negative points: It’s project/consulting based so no recurring revenues. They claim to have reasonable client retention based on good work leading to more work, but you’re never going to get the revenue visibility of a SaaS company, for example. Plus, it's a roll-up – when they work they can generate great returns, but they can also end in tears (Quindell, Conviviality etc.)
Thread to discuss The Panoply Holdings (TPX). IPO was in December 2018 at 74p a share.
Chat Pages: 1
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