Interim results show a significant improvement in profitability and cashflow, aided by the restructuring exercise carried out last year. The focus on increasing the quality of earnings is also paying off, with a gradual migration from traditional annual support fees towards SaaS in evidence. Instem continues to win the majority of outsourced SEND service contracts and is well set for a period of accelerated growth having invested in capacity in H1. Our estimate of intrinsic value is now 397p.
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Poised for accelerated growth
- Published:
24 Sep 2018 -
Author:
Chris Glasper -
Pages:
3
Interim results show a significant improvement in profitability and cashflow, aided by the restructuring exercise carried out last year. The focus on increasing the quality of earnings is also paying off, with a gradual migration from traditional annual support fees towards SaaS in evidence. Instem continues to win the majority of outsourced SEND service contracts and is well set for a period of accelerated growth having invested in capacity in H1. Our estimate of intrinsic value is now 397p.