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  • 01 Feb 17

Profitability ahead

G3 Group (GGL) operates three businesses: document and data management in New Zealand and Australia, a unique UK-based tourist souvenir business and a business mail operation in NZ. The performance for the three months to 31 December 2016 was strong, with both gross and operating margins reported ahead of target. The company attributes its outperformance to strong revenues in the higher-margin document management business versus the less profitable business mail unit. As expected, inventory days showed an increase due to the previously announced one-off buy up of business mail products during Q1. These will continue to reduce as the product is sold off. Management expects to achieve all key operating metrics (KOMs) in FY17e.

Companies: G3 GROUP
  • 29 Jul 16

Management says FY17 KOM targets to be met

G3 Group (GGL) operates three businesses: document and data management in NZ and Australia, a unique UK-based tourist souvenir business and a business mail operation in NZ. The audited FY16 financial results showed NPAT of NZ$2.14m, which was 12.2% ahead of FY15 and included a PBT contribution of NZ$0.04m from Formfile Records Management Group, acquired on 20 January 2016. It also included costs associated with IPO and the introduction of an employee share scheme, totalling NZ$0.227m and NZ$0.345m, respectively. The key operating milestones (KOMs) performance for Q117 is below expectations for FY17 due to the short-term impact of a postage price increase and seasonal softness in the UK market.

Companies: G3 GROUP
  • 13 Jun 16

NPAT up 12.2% for FY16

G3 Group (GGL) operates three businesses: document and data management in NZ and Australia, a unique UK-based tourist souvenir business and a business mail operation in NZ. The audited FY16 financial results showed NPAT of NZ$2.14m, which was 12.2% ahead of FY15 and included a PBT contribution of NZ$0.040m from Formfile Records Management Group, acquired on 20 January 2016, as well as costs associated with IPO and introduction of an employee share scheme totalling NZ0.227m and NZ$0.345m respectively.

Companies: G3 GROUP
  • 11 Feb 16

Margins ahead of expectations

G3 Group operates three businesses: a New Zealand-based business mail operation, a unique UK tourist mail business (Universal Mail UK) and document management in New Zealand and Australia. The performance for the third quarter that ended 31 December 2015 showed gross margin and inventory levels for the quarter and year to date above the key operating milestone (KOM) targets. The volume of items processed in the third quarter was below the KOM target, but is expected to increase in the fourth quarter with the resumption of services to a major bulk customer.

Companies: G3 GROUP
  • 01 Feb 16

Core outperformance in H117

G3 Group (GGL) operates three businesses: document and data management in New Zealand and Australia, a unique UK-based tourist souvenir business and a business mail operation in NZ. The performance for the six months ending 30 September 2016 showed a significant improvement versus the same period a year earlier, with underlying EBITDA growing by 24.9%. Strong growth in a G3 core home market of New Zealand post was one of the main drivers behind its strong performance. Furthermore, several bolt-on acquisitions continue to perform well, with the company announcing that it plans to continue looking for acquisition targets in its key markets.

Companies: G3 GROUP
  • 06 Aug 15

On the right track

G3 Group operates three businesses: a New Zealand-based business mail operation, a unique UK tourist mail business (Universal Mail UK) and document management in New Zealand. Following its successful listing on the NXT in June 2015, the company has provided the market with a business update for Q116 stating that all key operating milestones (KOMs) the company on track to meet its second quarter targets and KOMs.

Companies: G3 GROUP
  • 18 Jun 15

Mail and beyond

G3 Group operates three businesses: a New Zealand-based business mail operation; a unique UK tourist mail business (Universal Mail UK); and document management in New Zealand. The compliance listing on the New Zealand NXT market does not include the raising of any capital and will provide a platform for organic and acquisition-fuelled growth.

Companies: G3 GROUP

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Research Tree provides access to ongoing research coverage, media content and regulatory news on G3 GROUP. We currently have 7 research reports from 1 professional analysts.

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  • 10 Jul 19

H1 update reveals Platform profitability from Q2

This trading update highlights the growing strength of Bango’s position. The payment processing platform continues to make excellent progress on the back of rapidly growing End User Spend (EUS), its revenues now covering the cash costs. The cash it generates will fund development of the new exciting data monetisation business, which has made an encouraging start; making early sales while its range of audiences offered expands. In turn, it should feed platform volumes in a virtuous circle to grow the whole group business. Overall, H1 revenue grew 64% YoY to £4.3m, assisted by a full half of Audiens. The full results are out in September.

Companies: Bango
  • 16 Jul 19

Cenkos: CloudCall Group Plc - 30% Growth

CloudCall is expected to deliver revenue growth of +30% YoY in the six months to June. The company is making good headway into large enterprise accounts although sales cycles are somewhat elongated in this market segment. This growth performance continues the strong trajectory seen last year but is slightly below our run rate projections for 2019E and we are revising our forecasts accordingly.

Companies: Cloudcall Group
  • 16 Jul 19

H1’19 trading: Good progress, est. trim on timing

CloudCall published a trading update for H1’19, reporting strong commercial progress and reiterated management guidance on net user addition run-rate of >1,000/month for the year. A confluence of factors has led us to rebase our FY19E-FY20E nos for slight delays from: (1) a staggered rollout of the group’s recent enterprise contract win; and (2) time taken to implement SMS within MS Dynamics; alongside (3) additional headcount to smooth enterprise onboarding. However, with liquidity robust post the refinancing of the group’s revolving facility, we continue to view our thesis as intact. We reiterate our Buy rating on the shares as one of our top picks of 2019, seeing substantial upside potential to our revised 260p PT.

Companies: Cloudcall Group
  • 16 Jul 19

Small Cap Feast

Voyager AIR The Company will focus on the acquisition, leasing and management of primarily widebody aircraft, with asset management services to be provided by Amedeo Limited the IPO will comprise a Placing and Offer for Subscription of Shares to raise up to approximately US$200m. Uniphar, a diversified healthcare services business with a workforce of over 2,000, is looking to join AIM. Raising EUR135m with market cap on admission of EUR309.6m, expected 17 July 2019. Roxi Music UK music streaming service plans London IPO as it goes up against Spotify. They have appointed investment bank Arden Partners for an initial public offering (IPO) on the London Stock Exchange later this year.

Companies: CALL BIRD ABC KDR EMAN BST SCE ZEG SAG FUL

  • 11 Jul 19

Blancco is back & beating expectations

Watershed events by their very nature have the power to reshape entire industries. Take cyber-security, which this week saw the UK's data privacy regulator (ICO) slap fines of £183.4m & £99.2m for GDPR breaches on British Airways & Marriott Hotels respectively. Enormous sums of money that will surely send shivers down the spines of Boardrooms worldwide.

Companies: Blancco Technology Group
  • 15 Jul 19

Strength across the board

Instem has announced a positive H1 update, with all three areas of the business performing well in the period with new customer wins in Data Collection and increased volumes in Regulatory Solutions and Informatics. The move towards a SaaS model by both new and existing customers is accelerating, which bodes well for the future. Similarly, there is confirmation that Instem continues to capitalise on the opportunities afforded by the FDA’s SEND standard, with outsourced service revenues more than doubling YoY. Overall trading is described as in line with a positive outlook and we make no change to our forecasts this morning. Instem is one of our Best Ideas for 2019 and is successfully executing on a number of fronts, building strategic value along the way.

Companies: Instem
  • 16 Jul 19

Facebook to use Libra to become utility, Slack not worried about Microsoft, Symantec ends talks with Broadcom

The Senate Banking Committee on Monday released the testimony of David Marcus, the head of Facebook's cryptocurrency projects ahead of his testimony Tuesday. In his prepared remarks, Marcus perfectly outlines the business model behind the social network’s upcoming Libra digital currency and its Calibra digital wallet. Microsoft might be the primary competitor for Slack, but the widespread adoption of Microsoft's software is not a major problem for Stewart Butterfield, co-founder and CEO of the messaging app. Last week, Microsoft said Teams had more daily active users than Slack. Cybersecurity company Symantec Corp has walked away from negotiations to sell itself to chipmaker Broadcom over price disagreements, people familiar with the matter said on Monday. Symantec's decision raises new questions over the future of the US antivirus software provider, which is looking for a new CEO and has been struggling to grow its business serving companies.

Companies: KAPE AVST CNS DFX ECSC FLX IGP NCC OSI SWG SOPH

  • 15 Jul 19

WANdisco - Strategic deal signed with enterprise cloud partner

WANDisco has signed a deal to embed its Fusion technology within the migration and replication platform of a major enterprise cloud partner. We see this as a significant announcement that highlights the strategic value of its technology within the cloud ecosystem. Although details on the financial contribution are not yet provided, we expect it to lead to a big uplift in revenue from this partner.

Companies: Wandisco
  • 15 Jul 19

SEND, SaaS and strength of pipeline

Instem has published a trading update for H1 2019E – the group is trading well, and we make no changes to estimates. Highlights include a faster-than-expected transition to SaaS for new deals, a doubling of SEND-related sales, and a strong pipeline for H2. Cash collections appear robust, and the business is seeing strength across the board. FY 2019E will be H2-weighted (especially at the profit level, given the SaaS transition) but appears to be shaping up well.

Companies: Instem
  • 25 Jun 19

FY 2019 beats forecast as earnings quality grows

A stronger than expected H2 means FY Mar 2019 earnings beat forecasts already upgraded with the post-YE trading update in April. We expect robust demand for data solutions to continue and we reiterate FY 2020 growth expectations. Note that IFRS15 adoption brought £1.7m revenue and £1.0m profit from FY 2018 (restated) into FY 2019, enhancing the growth rate. The 57% EPS growth was further skewed by a very low tax-rate in FY 2019. Thus revenue and earnings appear to fluctuate sharply. Underlying that, however, D4T4 is steadily growing revenue and maintaining margins, while simultaneously improving quality and reliability of earnings through term licences, PaaS and recurring revenue while also investing in US expansion. Overall, this is another year of excellent performance and we raise our TP to 310p in line with the sector.

Companies: D4T4 Solutions
  • 16 Jul 19

WANdisco - WANdisco announces Databricks partnership

WANdisco has announced a partnership with Databricks, a rapidly growing supplier of cloud-based analytics. The partnership aims to help enterprise customers using on-premise Hadoop analytics solutions to migrate to Databricks’ Apache Spark-based platform. No financial details are provided but an analysis of the Hadoop market suggests it could be a significant opportunity for WANdisco.

Companies: Wandisco
  • 16 Jul 19

GB Group - Letting the right one in

GB Group’s Identity capital markets day was a deep dive into the group’s largest business (36% of FY19 revenues). With electronic identity verification (eIDV) a structural growth market, GBG has invested heavily in the business over the last four years, expanding geographically and adding new capabilities and data sets. We forecast the identity business to be the fastest growing division over the next three years, underpinning the group’s targeted double-digit organic revenue growth target.

Companies: GB Group
  • 12 Jun 19

CloudCall - Significant new CRM integration & partnership

CloudCall has announced a significant new integration this morning, with The Access Group’s CRM system called ‘Profile’. We believe this is a positive development and anticipate an upbeat response from the market in early trading. Leveraging the group’s ‘Unify’ architecture, the integration will both expand CloudCall’s potential market by the 500+ companies (with c.15,000 active users) that have deployed Profile and allow the group to benefit from marketing support from Access.

Companies: Cloudcall Group
  • 11 Jul 19

4th consecutive half of top-line growth

In a positive H1 trading update IndigoVision unveiled a fourth half year period of sequential top-line growth. As a result of revenues rising to $24.1m (+8% y/y) and cost rationalisation undertaken in the prior year, management expect to deliver positive half-year operating profits for the first time since 2014. The balance of net cash held by the group rose to $2.7m by the end of the H1 period (Dec-18: $2.0m). Current trading looks in-line with expectations, following similar seasonal H2 weighting patterns as in prior years, so we make no changes to our full year forecasts. A 1-year forward P/E multiple of 6.6x looks attractive, and provided management are able to successfully deliver continued positive top-line momentum in the medium-term, upside potential is high.

Companies: Indigovision Group
  • 27 Mar 19

Cenkos: CloudCall Group Plc - US enterprise opportunity

A sharp rise in users is driving double-digit revenue growth. Enhanced functionality, growth in the installed base and new routes to market are materially enlarging CloudCall's addressable market. The company is continuing to invest in order to exploit the opportunity presented and we are Buyers of the strong growth momentum.

Companies: Cloudcall Group