Tribe Technology set to deliver healthy pipeline of orders from Tier-One miners. Watch the video here.
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Managed Services Contract - there is room to keep adding value there over and above solution sales. Adds 1.2% to cumulative repeat revenue and helps forward visibility of earnings - hence the promised divi.
TechMarketView
Castleton Technology: Managed Services win
Georgina O'Toole, 08:22, 09 August 2018
The managed services element of Castleton Technology’s portfolio has been outshone by its software recently, with much focus on the integration of the company’s product suite following multiple acquisitions (see Castleton Technology: The post-integration story). The provider of software and managed services has had a successful year or two (see Castleton makes more progress), winning a number of significant multi-year and multi-product contracts as a result.
Today’s news pushes the managed services business back into the spotlight, as Castleton announces a contract with Dumfries and Galloway Housing Partnership (DGHP). Castleton will provide an end-to-end managed service over four years (with a two-year extension option). The value is £1.2m over the four years (increasing to £1.6m if the extension options are taken up). The managed service covers hosted workspace-as-a-service (including desktop refresh and ancillary services utilising private and public cloud (Azure and AWS) where applicable); application hosting; business continuity; information governance; WAN and LAN management; and continual service improvement through service desk management and device management & support.
Castleton’s was formed via a ‘buy and build’ strategy. Two of its acquisitions – Montal in 2014 and Keylogic in 2015 – were focused on outsourced managed IT services to the public sector. The company’s software and managed services offerings are delivered via two aligned business units, offering opportunities for upselling and cross-selling across the Group. The addition of another managed services contributes to Castleton’s strategy to grow its recurring revenue base.
Identifies progress in and optimism for the managed services side of the business,, under lengthy contract.
Some juicy late trades there been reported after hours....
Yes. As you say, best to say trades. I suppose the106 is a buy, and arguably the 105s? I've tried before, and given up guessing. A good day, they've all gone to good homes and we've gone up.
Exactly. I try to work with what I know, taking possibilities into account. What we all know is that an opportunity/arrangement existed today for larger holders to sell and buy, and it did the share price no harm. The opposite in fact. As to who sold, MXCP, Kestrel or whoever, and who bought, it does not matter here, though my hope is the shares have started again with smaller holders.
I was pleased to see the win for Managed Services notified today, as it is a continuation of the uptrend mentioned in the final results, providing more profitable contracts.
The following comment was interesting, indicating current ongoing growth in new customers, and the further consequent additional potential over time.
"As we continue to expand our customer base, we are also seeing increasing opportunities for upselling and cross-selling other products and services across the Group."
H1 end approaches, and we shall know more in October ( dividend announcement ? ) though as with today, there may be something else before then.
Bit more on the website about that, highlighting the importance of the Managed Services win of a new customer by competitive tender.
https://www.castletonplc.com/2018/08/10/castleton-supporting-the-transformation-of-dghps-it-systems/