The settlement of all legacy issues and the focus on software sales is having the desired impact. Adjusted PBT at the interim was £0.49m, compared to £0.35m in the prior period and £0.68m for the year ending January 2016. The improving sales mix also allowed the EBITDA margin to increase to 4.2% from 3% with net cash increasing to £1.3m from the start of the period. We maintain our buy recommendation and 2.2p price target implying 35% upside.
11 Oct 2016
Significant progress in 2016
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Significant progress in 2016
Smartspace Software Plc (SMRT:LON) | 87.5 -0.4 (-0.6%) | Mkt Cap: 25.3m
- Published:
11 Oct 2016 -
Author:
Andy Smith -
Pages:
5
The settlement of all legacy issues and the focus on software sales is having the desired impact. Adjusted PBT at the interim was £0.49m, compared to £0.35m in the prior period and £0.68m for the year ending January 2016. The improving sales mix also allowed the EBITDA margin to increase to 4.2% from 3% with net cash increasing to £1.3m from the start of the period. We maintain our buy recommendation and 2.2p price target implying 35% upside.