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  • 21 Sep 16

Forecast upgrade

Following the release of its interim results, we upgrade our 2017 forecasts for ServicePower and reiterate our 6p target price.

Companies: Servicepower Technologies
  • 21 Sep 16

Morning Note

Transense Technologies* (TRT): FY results in line (CORP) | Elecosoft* (ELCO): Building an international business (CORP) | ServicePower Technologies* (SVR): Forecast upgrade (CORP) | eg solutions* (EGS): Weak H1 but strong H2 due on big contract wins (CORP)

Companies: ELCO SVR EGS TRT

  • 04 Aug 16

Morning Note

Zambeef* (ZAM): Transformational deal with CDC (CORP) | Aggregated Micro Power* (AMPH): Fundraising and acquisitions (CORP) | Lok’nStore* (LOK): Low-cost, high-quality growth (CORP) | Communisis (CMS): Margins rising, debt falling, confidence in the full year (BUY) | ServicePower* (SVR): Positive trading update (CORP)

Companies: ZAM AMPH LOK CMS SVR

  • 04 Aug 16

AIM Breakfast

ANGLE PLC | GLOBAL INVACOM GROUP LTD | MATCHTECH GROUP PLC | METMINCO LTD | MYTRAH ENERGY LTD | PORTMEIRION GROUP PLC | RENEURON GROUP PLC | SERVICEPOWER TECHNOLOGIES

Companies: MNC GINV GATC SVR MYT PMP AGL RENE

  • 04 Aug 16

AIM Breakfast

Magnolia Petroleum (MAGP.L) | Metal Tiger (MTR.L) | Metminco ( MNC.L) | ReNeuron Group (RENE.L) | Global Invacom Group (GINV.L) | Matchtech Group (MTEC.L) | ServicePower Tech (SVR.L) | Mytrah Energy (MYT) | Portmeirion Group (PMP.L) | ANGLE (AGL.L)

Companies: MAG MNC GINV GATC SVR MYT PMP AGL RENE

  • 06 Apr 16

Final results

The group retains a high visibility to revenue (79% recurring), and as the recently launched products gain traction under the revised strategic focus – combined with planned cost-reduction initiatives – we expect improvements in financial performance.

Companies: Servicepower Technologies
  • 06 Apr 16

Morning Note

Proactis*: Supplier Network momentum (CORP) | ServicePower Technologies*: Final results (CORP)

Companies: Proactis Servicepower Technologies

  • 14 Dec 15

Growth set to accelerate in 2016

Turnarounds are notoriously tricky even at the best of times. Inevitably once one problem is fixed, another crops up – which is what has happened this year at ServicePower. H1 revenues at £6.8m showed impressive growth of 12.8%, after a series of blue chip contract wins. Since then, like many small caps, the going has got progressively tougher – characterised by longer sales cycles as clients have become increasingly nervous due to slower global growth, emerging market instability, terrorism, lacklustre demand in China and falling commodity/oil prices.

Companies: Servicepower Technologies
  • 05 Oct 15

Conviviality across the Universe, Pivotal moment for ProMetic, OptiBiotix going up scale

7DIG Half Yearly Reports, AVG Final Results, BMR Potential, COS Agreement, IKA Patent grant, MGR Half Yearly Report, MXO* Half Yearly Report and Update, OBT Half Yearly Report, OPTI* Completion of Study, ORM Half Yearly Report, PLI* Meeting with US FDA, SVR Interim Results, VLG Interim Results, UNG New Contract Win .

Companies: 7DIG AVG BMR COS IKA MGR MXO OBT OPTI PLI SVR VLG UNG ORM

  • 30 Sep 15

ServicePower Technologies - Interim Results

servicepower-technologies-interim-results-30-09-2015
  • 30 Sep 15

Interim results

Following the results, our 2015 forecast and 10p share price target remain unchanged, implying potential upside of 105%.

Companies: Servicepower Technologies
  • 30 Sep 15

Morning Note

Redcentric*: Interim trading update – on track (CORP) | iomart*: Interim trading update (CORP) | Corero Network Security*: Interims show progress (CORP) | Volex: Board changes and trading update (BUY) | Avingtrans^: Full-year results (BUY) | ZincOx Resources*: Interims show improved operational performance (CORP) | Proteome Sciences*: Interims in line (CORP) |Sphere Medical*: Model update (CORP) |ServicePower Technologies*: Interim results (CORP) |Litebulb*: Interim results (CORP) |Camco Clean Energy*: Roll-in of REDT minorities (CORP) |Zambeef*: Trading good but local FX collapse (CORP) |San Leon Energy*: Interim results and Moroccan well update (CORP) |Independent Oil & Gas*: Interim results (CORP)

Companies: RCN IOM CNS VLX PRM SPHR SVR RED ZAM IOG AVG SLE

  • 30 Sep 15

Double digit top line growth

Microcap software is a stock-pickers paradise par excellence. Not only is the sector poorly covered by the City, but also the returns can reach nosebleed levels. Here the technology is often niche and difficult to copy – hence creating predictable revenues, healthy margins and positive cashflows. But the really exciting bit comes when growth is added; effectively turbo-charging profits as incremental sales largely drop down to the bottom line.

Companies: Servicepower Technologies
  • 14 Sep 15

ServicePower Technologies - Launch of new software & application for Quantum Annealing patents

servicepower-technologies-launch-of-new-software-application-for-quantum-annealing-patents-14-09-2015
  • 09 Sep 15

Small Cap Wrap - Another deal in the Potash, Shifting up a Gear4music. A quantum leap for ServicePower

AFPO Memorandum of Understanding, AAU Quarterly Newsletter, ATQT Directorate Change, COS Participation, FITB* Board Changes and Appointment of CEO, G4M Trading Update, MARL* Exercise of Warrants, Termination and CPR, MDZ* Final Results, MXO* Nigerian Update, OPTI* Half Yearly Report, PEG* Directorate Change and Half yearly Report, PLI* Expansion of Phase II, SVR Award and Patents, STEL Licence Application, ZEG Intention to Move to Official List

Companies: AFPO AAU ATQT COS G4M MDZ MXO OPTI SVR ZEG STEL MARL KIN

Research, Charts & Company Announcements

Research Tree provides access to ongoing research coverage, media content and regulatory news on Servicepower Technologies. We currently have 22 research reports from 3 professional analysts.

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Latest News/RNS

(more news)
Date Source Announcement
30Jan17 14:22 RNS Offer Update
17Jan17 14:51 RNS Resignation of Directors
11Jan17 07:00 RNS Updated Level Of Acceptances
10Jan17 07:00 RNS Offer Declared Unconditional In All Respects
30Dec16 11:39 GNW Rathbones : Form 8.3 - ServicePower Technologies PLC
19Dec16 11:30 RNS Posting of Offer Document
16Dec16 07:00 RNS Extension of Loan Facility
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  • 10 Jul 18

AIM Market – A game of two halves?

In January, we highlighted the progress that AIM had made in H2 2017. We now review the performance in H1 2018. The latest AIM Statistics published on Friday showed that there are currently 944 companies, with 38 new issues so far in 2018, raising £781m and secondary issues raising a further £2.4bn. However, with 51 companies cancelling their listing there was a net fall in H1 2018 of 13 companies. That said, new listings appear to have accelerated recently. In Share News & Views, we comment on Braemar*, Cohort, Cropper*, GetBusy*, IG Design, Lakehouse* Porvair and Wynnstay Group.

Companies: AOR APC BMS CRPR DMTR ECSC ESC EUSP FDM GETB PCF SNX TCN W7L

  • 17 Jul 18

Cenkos: CloudCall Group Plc - Calling an unchanged market opportunity

The rapid +31% YoY revenue growth delivered in H1E did not include any meaningful contribution from the recently expanded sales headcount. Indeed, this growth rate would have been higher and in line with our forecast of +36% had new hires impacted in a timely manner. While we reduce our forecasts for 2018E in relation to this softness, we continue to expect an exit run rate this year strong enough to support an unchanged 2019E.

Companies: Cloudcall Group
  • 17 Jul 18

Half time scorecard: Q2 to the rescue

With the first half of 2018 behind us, we evaluate the performance of the tech sector versus the broader market, and peers across the pond to see how the London listed technology universe compares to its bigger and better known US counterparts. We examine if the UK listed tech sector is overvalued on a relative basis. No tech sector review can be complete without analysing the performance of the big eight mega tech companies who had a strong H1 period and currently have an aggregate market capitalisation of US$5.18tn, marginally bigger than the Japanese economy.

Companies: APC ECSC EUSP FDM GETB LSAI SNX

  • 02 Jul 18

H1 Review

Best Ideas - 2018 H1 Review

Companies: SAA VP/ GLE AMO IOM HSP CVSG EKF PGIT VRP RLM AVG SOG DNLM SFR YU/ CBP

  • 16 Jul 18

Strategic acquisition of KeyDrive transforms quality of earnings

CentralNic is acquiring KeyDrive S.A. (an existing strategic partner since 2017) for an initial enterprise value of $44.5m or c.£33.6m, with an additional earnout of up to $10.5m or c.£7.9m implying a maximum Enterprise Value of $55.0m or c.£41.5m. Founded in 1998, KeyDrive has established itself as one of the leading European companies for the distribution and management of domain names, administering over 6.0m domains via its internally developed software platform for over 1,700 retailers and 40,000 direct customers across 160 countries. The largest division of KeyDrive is its reseller platform RRPproxy, which is one of the top two providers globally with a range of blue chip customers.

Companies: Centralnic Group
  • 05 Jul 18

Cenkos: Seeing Machines Ltd - New US Fleet (Guardian) Contract

Seeing Machines, the advanced computer vision technology company that designs AI-powered operator monitoring systems to improve transport safety, has signed a five-year contract with US based John Christner Trucking to install Guardian across its fleet of 850 trucks. John Christner Trucking is a family owned business based in Sapulpa, Oklahoma and one of the leading refrigeration carriers across North America. This contract follows several other recent notable North American fleet contracts including Megabus (Coach USA), Royal Foods and Bison Transport Inc.

Companies: Seeing Machines
  • 14 Aug 17

Ticking along nicely

Prelims to June are in line with expectations, with sales and adj. net income up 8% and 24% respectively. Cash conversion was also typically robust at 181% (FCF/adj. PAT), resulting in year-end net cash of £2.6m. We leave FY18 forecasts essentially unchanged – suggesting top-line growth of 9% and, in combination with continuing margin expansion, EPS +13%. Maiden FY19 forecasts reflect a continuation of this theme and form the basis of our valuation methodology and as such, we increase our target to 85p – equivalent to an undemanding 8% FY19E FCF yield.

Companies: Arcontech Group
  • 02 Jul 18

Positive dynamics expected to continue

ZOO Digital released robust FY2018 results today delivering $28.6m of revenue in FY2018, 2% ahead of our forecast, and representing a 73% Y/Y increase. FY2018 saw the Group solidify its reputation as a significant player in the localisation market with the launch of innovative technologies such as ZOOdubs. The outlook for the market and the group remains buoyant with the board confident the Group is ‘just entering an exciting period’. We reflect that in our newly published FY2020E forecasts.

Companies: Zoo Digital Group
  • 06 Jul 18

Green signal – Initiation of coverage

Tracsis is a SaaS provider to the transport industry, focused on delivering shareholder value through a combination of organic and acquired growth. The business has established, well-regarded management; dominant positions in its current domestic markets; significant overseas opportunities for growth; and a strong M&A track record delivering additions to the product set and cross sales to the loyal customer base, as well as penetration of international markets. With the opportunity for unmodelled growth through acquisitions enabled by its £18.5m net cash position (generated internally), and the chance to deliver automation and improved margins within Traffic and Data Services (FY17: 54% of group revenue but only 24% of group EBITDA), we initiate coverage with a 700p target price.

Companies: Tracsis
  • 17 Jul 18

Strong H1’18; rebasing FY’18 on timing

CloudCall’s performance during H1’18 was strong but slightly weaker than our expected run-rate on slower recruitment of personnel to its growing sales team. Our FY18E estimates have been cut on the mismatch between rising costs due to continued investment in growth and the lag to achieve top-line performance, but our price target remains intact. We highlight the impact is localised to FY18E and the group’s product, sales and marketing teams are now in place to support rapid commercialisation. We continue to see substantial upside potential to our PT of 300p, particularly given the shares’ recent weakness, and reiterate our Buy rating.

Companies: Cloudcall Group
  • 02 Jul 18

Hooray for Hollywood

After upgrades during the year, ZOO has delivered EBITDA of $2.4m ($2.3mE) from revenue of $28.6m ($28.0mE), demonstrating impressive growth rates of 35% and 73% respectively, including 149% growth in Localisation revenue (subtitling and dubbing). Localisation services, elements of the suite of ZOO’s broader cloud-based platform, deliver the ability for content providers to commercialise their content in more languages and territories at a pace and cost which outperform any alternatives. Matching client demand, the clients being both the largest and best known in Hollywood as well as the household name online platforms, the company continues to invest in overseas partnerships of ‘talent’ to deliver further languages and capacity in addition to the 5,000 strong ZOO network. The group delivers momentum from playing to the video media zeitgeist of enabling content delivery over any device, anytime, anywhere – fulfilling the practicality of rolling out a film in 30 languages to 50 territories at the same time, rather than the former practical limit of the typical maximum 10 languages. We nudge up FY19 forecasts (revenue 5%, EBITDA 2%) and introduce FY20 forecasts with 19% revenue and EBITDA growth: continuing revenue momentum alongside further investment and a healthy balance sheet. Twelve-month target price lifted to 130p (116p).

Companies: Zoo Digital Group
  • 05 Jul 18

A ‘match made in heaven’

M&A is a bit like ‘panning for gold’. Most prospectors lose money, but the successful ones do the homework, know where to look and crucially understand their markets inside out. Similarly, we think Elecosoft - following its ‘transformational’ £2.4m acquisition of BIM (Building Information Modelling) SaaS provider, ICON back in October 2016 - has done it again.

Companies: Elecosoft
  • 11 Jul 18

FY19 set up for much better year

Long term Blancco shareholders are undoubtedly a hardy bunch. An essential trait given the difficulties (some self-inflicted) the company has endured over the past 2 years. The good news is that the bleeding now seems to have stopped, with real progress being made under the new leadership team.

Companies: Blancco Technology Group
  • 17 Jul 18

Ideagen - Low risk in delivering compliance

Prelims confirm EBITDA of £11.0m from revenue of £36.1m, in line with expectations unchanged at the May trading update. 11% underlying organic revenue growth is supported by acquisitions (current and prior periods), delivering +33% group revenue, +40% group EBITDA, and +33% adjusted diluted EPS. Net cash at period end of £0.8m is expected to be boosted by strong and growing free cash flow, funding both the dividend and the inevitable further acquisitions. Ideagen has a tried and tested formula for delivery of forecasts and sensible acquisitions, and we look forward to continuing positive newsflow as the relentless increase in regulatory compliance leads to the requirement for efficiencies and insight through automation, which Ideagen’s solutions deliver – and Brexit will only increase. We roll out a new target of 140p (120p) based on FY20 forecasts for further organic growth of +10% EBITDA and EPS; however, we fully expect further acquisitions to increase those forecasts in the interim.

Companies: Ideagen
  • 24 May 18

Strong performance from quality – 11 focus stocks

We have refreshed our quality style screen for the second time and report on style performance since the last refresh in October. Performance has been very strong, outperforming the small-cap index by c.1600bps (weighted basis) and c.1000bps (unweighted). There has been volatility with the market and this style has yet to be tested in a concerted down market, but in a flat or rising market quality appears to be a successful investment style in small-caps. We have highlighted 11 focus stocks in the new screen and will report back again on performance when we next refresh the screen in about 5-6 months’ time.

Companies: LIO GHT AMO CHH ZYT DOTD GTLY RIV FCRM TAM PAM