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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

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

  • 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

  • 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 WBI OPTI PLI SVR VLG UNG ORM

  • 30 Sep 15

ServicePower Technologies - Interim Results

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

Interim results

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

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 BIDS

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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  • 14 Nov 19

Prelims: consistency and opportunity

EBITDA of £10.5m (£10.4mE) was delivered from revenue of £49.2m (£46.7mE) with net cash of £24.1m, (as revealed in August), comfortably ahead of our £21.5m year-end forecast. Newsflow in the period included three acquisitions, the securing of a five year framework agreement for deployment of TRACS Enterprise with a major Train Operating Group, and the successful transition of the CEO role to Chris Barnes. The Group continues to deliver the proven mix of self-funded acquisitions and organic growth, demonstrating comfortable delivery of forecasts reiterated at interims, and a very strong balance sheet giving capacity to deliver much more of the same. With the new CEO able to deliver operational efficiencies to a Group already well versed in delivering successful acquisitions, we look forward to the next part of Tracsis journey. Target 775p reiterated.

Companies: Tracsis
  • 12 Nov 19

Cenkos: Seeing Machines Ltd -- EC safety regulations for DMS adopted

The European Council announced on Friday 8 November that it has adopted a regulation on the general safety of motor vehicles and the protection of vehicle occupants and vulnerable road users. This follows an agreement with the European Parliament in March 2019 and is part of the "Europe on the Move" package, launched by the European Commission in May 2018. These new regulations are to help transition towards a mobility system which is safe, clean and automated. Of relevance to Seeing Machines is the Regulation for the adoption of safety features that include advanced driver distraction warning systems and driver drowsiness and attention warning systems. These regulations will apply from May-2022 to all cars, vans, trucks and buses (including SUVs) and amend several existing safety regulations for EU-type approval.

Companies: Seeing Machines
  • 15 Nov 19

DCB for YouTube in the USA

Bango has announced the launch of Direct Carrier Billing (“DCB”) payment services for Google’s YouTube TV Service, with the initial launch via a “leading” but unnamed US Mobile Network Operator (“MNO”). With the ongoing growth in US Over The Top (“OTT) video services continuing to cannibalise the Cable TV operators, we believe DCB for YouTube TV is a strong offering in a large market. The release is light on detail as to the potential value to Bango, and we make no revisions to forecasts. Nevertheless, the launch represents a further win in an area of strategic focus for the group. It also confirms the integration of a major new merchant service into the Bango Platform.

Companies: Bango
  • 11 Nov 19

CentralNic Group - Consolidating a growth market

CentralNic (CNIC) is executing on its strategy to build a global domain name and web services provider, acting as a consolidator in a fragmented market. Its key focus is expanding in emerging markets, where internet penetration is lower than in developed economies and the growth rates are higher. The company has spent £41.7m on acquisitions in FY16–18, and a further US$28.9m so far in FY19 (note the company’s reporting currency changed from pounds sterling to US dollars in FY19). Management is confident of ongoing organic revenue growth and highlights a strong pipeline of potential future M&A deals.

Companies: Centralnic Group
  • 11 Nov 19

Allenby Capital TMT Update - 11.11.19 (MWE.L, ZOO.L)

MTI Wireless Edge Ltd* (MWE.L, 34p/£29.7m) | ZOO Digital plc* (ZOO.L, 84p/£62.6m)

Companies: MTI Wireless Edge Zoo Digital Group

  • 21 Oct 19

Quarterly Research Outlook Autumn 2019

Following continued delays of a Brexit agreement, few sectors within the UK market have remained attractive to investors despite low valuations. One sector which has continued to outperform despite the political drama has been the UK video gaming sector (henceforth UK gaming), which we are fans of. We believe a combination of sector-leading growth, strong cash conversion and timely cyclical positioning support our positive view on the UK video gaming sector.

Companies: ABBY AMS ANX ARS ATYM AVON BLVN PIER BUR CGS CAML CDM CSRT TIDE CYAN DTG DEMG ELM EMR FPO FDEV GTLY GENL GHH GRI GEEC GKP HMI HAYD HEAD HILS HTG HUR IBPO IOG INDI JHD JOG KAPE KEYS KWS KCT KGH LAM LIT LOK MACF MANO MOD OXIG PCA PANR APP SRE PHC PMO RBW RMM RBGP REDD RSW RNO ROR SUS SCPA SEN SHG SOLG SOM SUMO TM17 INCE TWD TRAK TRI VNET VTC ZOO ZTF

  • 15 Nov 19

Acquisition of Leadscope

Instem has bolstered its Informatics offering with the bolt-on acquisition of US-based Leadscope for up to $4.6m. The deal looks highly complementary, adding a leading player in the field of computational toxicology, an area with significant structural growth potential and strong regulatory drivers. We upgrade our FY20 and FY21 EPS forecasts by 6.5% and see scope for material revenue synergies over time. Instem remains one of our best ideas for 2019 and we see the addition of Leadscope as adding to an already strong organic growth outlook.

Companies: Instem
  • 11 Nov 19

Bolt-on acquisition announced

IndigoVision have announced the completion of the c.€3.0m acquisition of Agorasys SA (‘Agora’), a strategic IP bolton which is expected to add further strength to the Group’s Video Management Software (‘VMS’) tech stack. €2.5m of cash consideration (inc. €2.3m to clear debt) and 34,422 of share consideration is payable upon completion, with the remaining balance deferred dependent on certain performance contingencies. The Agora product delivers integration of multiple systems across disparate locations to a single interface, and enables standardisation of procedures, improved analytics, operating cost rationalisation and a verifiable process audit trail. Current sales at Agora include a high proportion of recurring revenues, with a scalable rental model available to central monitoring stations. Management see strong potential use cases across Utilities and other critical infrastructure verticals once integration into the Group’s product set is completed (expected back-end of FY’20E). We raise FY’20E revenue forecasts by 3.0% to $56.5m, with EBITDA rising 4.3% to $3.9m. The deal is 2% accretive to FY’20E FD earnings based on our forecasts. P/FY’20E EPS valuation sits at 6.1x compared to a discounted peer group multiple of 11.0x.

Companies: Indigovision Group
  • 02 Sep 19

Interim results

CentralNic Group has a solid set of interim results for the first six months of FY2019E, it was a busy period with the group completing 3 acquisitions immediately post the period end, issuing a €50m listed bond instrument and making solid progress in delivering on its stated accelerated strategy. Revenue for the first six months is up 225% yoy, with c.6% organic growth, in line with long term trends for the group. These results are the first time the group have reported in US Dollars. The group’s main functional currency is USD and we believe this is a sensible decision and should remove some currency related risk from the forecasts. CentralNic has made significant progress in delivering on its stated strategy of supplementing organic growth with quality acquisitions, focusing on recurring revenue businesses, in attractive regions. On our new USD based forecasts, the group trades on a 2019E EV/EBITDA of 8.7x (falling to 7.0x in 2020E) and a P/E of 11.0x.

Companies: Centralnic Group
  • 06 Nov 19

Cenkos: Seeing Machines Ltd -- Business update shows strong fleet progress

Seeing Machines has provided a business updated ahead of its Capital Markets Day in London today. It has announced a renewed and strengthened supply chain agreement with Xilinx, the confirmation of a 21% hardware cost reduction with its contract manufacturer for the Guardian Gen 2 product, and good momentum in the Fleet division with new distributors, insurers and expansion into new fields of use.

Companies: Seeing Machines
  • 23 Jul 19

LIBERUM: GetBusy plc* - Strong H1 drives revenue upgrades

GetBusy is a leading developer of document management and productivity software products, with a global footprint, and a delivery and revenue model largely transitioned to SaaS. H1’19 results were stronger than expected driven by higher customer numbers, better ARPU and good cost control.

Companies: GetBusy
  • 03 Oct 19

Microsoft unveils folding phone, Samsung ends China production, Google updates privacy features

Microsoft unveiled the new Surface Duo, which runs on Android, at its annual hardware event on Wednesday. The folding phone features two side-by-side 5.6-inch displays that are connected by a 360-degree hinge. Microsoft said it partnered with Google to “bring the best of Android” to the device, while incorporating elements of Windows 10X, a new operating system meant for hybrid devices. It can also run two different apps at the same time. Specifically, the Surface Neo will rely on a new "Expression" of its Windows 10 operating system called Windows 10X.

Companies: KAPE EYE IMO

  • 08 Nov 19

WANdisco - Fusion embedded with Microsoft

At Microsoft’s Ignite conference yesterday, WANdisco co-presented an embedded solution with Azure, effectively announcing Microsoft as the ‘major enterprise cloud partner’ referenced in WANdisco’s 15 July press release. While investors had speculated that Microsoft was the partner, public confirmation that the leading enterprise cloud provider globally is embedding Fusion within its platform clearly demonstrates the value of WANdisco’s technology. It should also reassure investors that the relationship is progressing.

Companies: Wandisco
  • 26 Jul 19

Strategic acquisition accelerates US and RCS plans

IMImobile have announced the acquisition of 3Cinteractive (‘3C’), a leading US-based messaging platform company for $53.2m (£42.8m) to be funded through a combination of new debt, an equity fundraise and consideration shares. The strategic rationale is compelling, accelerating IMImobile’s presence in the high-growth US market, consolidating a leading position in Rich Content Services (‘RCS’), and offering a number of cross-sell/ upsell opportunities and cost synergies. Based on our conservative assumptions the acquisition and placing will enhance earnings forecasts by 1% in FY’20E, rising to 11% in FY’21E. IMImobile’s EV/FY’20E proforma gross profit multiple of 2.7x looks compelling, and we see risks in forecasts to the upside.

Companies: IMImobile
  • 05 Sep 19

EMIS Group - Making good progress on technology roadmap

EMIS reported growth in revenues (+7%), adjusted operating profit (+8%) and adjusted EPS (+11%) in H119. Management restructured the business during H1 to reflect the two key customer groups for EMIS products and, with the disposal of the Specialist & Care division, streamlined the product portfolio. Development of EMIS-X continues on track, with the first application based on the platform launched within the Patient Access app. We view the share price as likely to tread water until the outcome of the GP IT Futures procurement process is announced in the next few months.

Companies: Emis Group