Tribe Technology set to deliver healthy pipeline of orders from Tier-One miners. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
500k shares gone somewhere - otherwise pretty slow just now.
All happening today. Taking a minute to digest these RNSs and the video. But the bottom line is £4.3m profit. PBT of £1.8m, then helped by tax issues. Before tax last year was £0.5m loss, so that compares very well. Debt substantially down too. The Brixx licence will save and increase profit, and the product is being improved to suit Castleton. I note progress in the current year has been going well, with the group ' comfortably" in line with expectations. And still loads of headroom with cross selling and the complete integrated suite. In other words, more of the same successful strategy, but getting sharper in-house by continuing development of business practices.
As detailed in RNS of 22nd. March. " The LTIP provides for the Options to vest in stages dependent on the share price growth, with full vesting being dependent on the Company's share price growing at 40% per annum over the three year period from a base price of 68 pence, being the share price at the date the Board resolved to establish the LTIP "
Very stable, trading continuing at this price. Should this continue until results, I shall be content. And then we shall know more.
Castleton Technology plc (AIM: CTP), the software and managed services provider to the public and not-for-profit sectors, will be announcing its final results for the year ended 31 March 2018 on Tuesday 19 June 2018.
Yes. Maths. 68 + 40% = 95 for this year minimum. And they're not just optimistic, they're very optimistic about the future they say! So presumably we can look forward to a very optimistic report, with some detail to back it up.
The price has held well. The investor base seems strong. As indicated in the update there will be nothing untoward. There will be confirmation of an excellent trading year, in terms of revenue and profitability, with I suspect the overall content and tone painting a favourable picture for the remainder of this financial year. It is my guess that FinnCap may take the opportunity to increase their price target, which will be necessary this financial year if sense is to be made of the non-director senior management LTIP ( RNS 22nd. March ) "The LTIP provides for the Options to vest in stages dependent on the share price growth, with full vesting being dependent on the Company's share price growing at 40% per annum over the three year period from a base price of 68 pence, being the share price at the date the Board resolved to establish the LTIP."
Very stable period of time trade wise as we head towards results on 18th. Anything coming on continuing to be picked up.
Shares being picked up so far at this level.
Recognition of what is known for this focused niche provider, and in recent times the share price is healthy. I would not be surprised to see say Kestrel trading at this level with shares being taken up widening the investor base - the intention of the November presentation. http://www.piworld.co.uk/2018/03/09/castleton-technology-ctp-investor-presentation-november-2017/ In relation to results, steady performance is already out there from the trading update giving the bones of what the financial results will say on 19th. June, with the likelihood of some increase in the top line to be reported. There will be no surprises for the year under review. http://www.lse.co.uk/share-regulatory-news.asp?shareprice=CTP&ArticleCode=rehj9efl&ArticleHeadline=Trading_Statement Kinetic aside, I do not see Castleton as being correctly described as a value added reseller, if that is indeed the inference in Channelweb's sub header of their brief coverage of the 1000 report. That may arguably be said of the Glantus tech ( which is embedded in just one solution ) and currently the mobile product ( which in fact is only available to Castleton and which will become effectively Castleton owned for social housing from April next year ) The value of the products in the UK and Ireland is in Castleton's own brands and continuing added value by in-house development, and they will be sold alongside the MYOB Greentree Kinetic solutions in Australia. The annual report will be primarily interesting for me from a post year end and outlook perspective, with all being well the bottom line picking up as time passes from cross selling and cumulative repeat revenue from it's now 780,strong customer retention, base, and the disposal this year of payments under the mobile agreement with the presently defunct 365 Agile.
All straightforward there then. Accounts passing scrutiny.
Good to be included by London Stock Exchange and to rate a mention by CRN. https://www.channelweb.co.uk/crn-uk/news/3032805/the-channel-firms-featured-in-lses-1000-companies-to-inspire-britain-report
Coop tenants I mean.
Following the September RNS, good to hear that, presumably following usual requirements of migration and testing, and all that, the multi solution implementation hosted by Managed Services, has now gone live to customers.
They have, however, chosen to do this one with their own seminar. "We are looking forward to #Housing18 event, where we will be exhibiting and hosting our own seminar session, look out for more details coming soon! Book now if you haven't already it is one of the best events in the #UKHousing sector! #tech #transformingservicedelivery " Looks like we've been taken to a level at which perhaps the larger deals can be done at this time.
In that context I see that Castleton, so far anyway, are not exhibiting as usual this year at the CIH Conference ( Europe's largest housing conference ) in June. All the rest are there, Aareon, Capita, Orchard, Northgate, Civica - Castleton preferring instead to concentrate on, and in a more personal way with, current customers.
Dean Dickinson is very clear that the main driver now with 600 customers is cross selling into existing, leading to take-up of the full suite. New customers are a very welcome added bonus.
Having done ROI, Castleton holding a series of 5 one day events throughout UK during July. Aiding cross selling by promoting new/updated solutions to in the main existing customers, though the Irish Breakfast event was open to potential new customers.
In November Castleton had 600 of the current 700 target associations as customers. 64% of it's customers take only 1 solution. It sells a dozen or so solutions. More revenue is available from Managed services. The opportunity is obvious, and should improve when referenceability can be provided by those who have purchased the full suite of solutions, to enable the company to tender for contracts that at present Dean Dickinson passes on pending that referenceability.The Castleton model is succeeding, and according to what has been posted from the employee 2 day sales meeting the company will post record yearly sales for both Software and Managed Services in June. We know results will show revenue of at least �23.1m from �20.3m last reported FY - an increase of at least 13.79%. It acquired Kinetic in December, to restart operations in Australia. Kinetic brings revenue of �1.3m and another 50 customers into which to cross-sell in their growing community housing market, and the opportunity to enter the Aged Care sector and expand into New Zealand. Kinetic will become earnings enhancing this year. With the form Castleton has shown, there is nothing to suggest other than ongoing steady progress.
Although Castleton's prime driver is cross selling into existing customers, there are signs of institutional investors seeing opportunities within the market, and creating for profit associations - in turn bringing new opportunity for the likes of Castleton. https://www.socialhousing.co.uk/news/news/legal--general-in-plan-to-become-a-leading-affordable-housing-provider-55997
It's off on one side, but Glantus making some moves of late. https://americas.enterprise-ireland.com/glantus-movius-partnership-market-expansion/
Eu10m over 3 years is reported as perhaps the value to Glantus, from the strategic partnership. That is from the press and the rest is completely unknown, but in relation to Business Intelłigence the agreement will be earnings enhancing to both, and additional revenue will flow into and some through Castleton's accounts. So far, (there may be other possibilities ahead though I discount them for the purposes of my investment ) Castleton provide the customers, and Glantus the additional technology which adds value in terms of ability and efficiency and 'puts them ( Castleton ) firmly ahead of the competitors in this field.' Glantus' technology is embedded in Castleton's previously existing fully integrated offering, rather than being a simple resell. The implicit and presumably true sales pitch being that if associations want the best business intelligence system (tailored to the sector by Castleton ) and they want to avoid any compatibility problems arising from 'mixed' solutions then they should buy it ( and all the other solutions!) from Castleton. BI is just one solution contract wise, but the data on which it feeds has to be captured. For Castleton, the immediate objective is multiple fully integrated solution sales, ideally hosted within Castleton Managed Services.
They've just advertised another Product Manager job. Pleased to see this as a key responsibility. * Review the competition, ensure that Castleton are on par or ahead at all times. And they are doing a lot of in house development work.
Also recruiting 3 new developers for the new solutions, in addition to the one they been looking for to work on EDRM.
Coming out of this morning CircleVie H/A will be piloting Augmented Reality, and confirmation they're piloting AI ( Alexa thingy )