The interims confirm the positive changes made by Falanx for the six months to September 2016. Revenues grew 54% to £1.2m, the loss before tax reduced to £0.7m from £1.3m and cash used in operations decreased from £1.6m to £0.4m. It also retained a net cash position. This positive momentum de-risks the earnings profile and we maintain our view that it will report a PBT in FY18. In recognition, we have increased our price target from 8p to 9p (which is still signi
01 Nov 2016
Price target increased as earnings de-risked
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Price target increased as earnings de-risked
Cloudified Holdings Limited (CHL:LON) | 0 0 0.0% | Mkt Cap: 1.18m
- Published:
01 Nov 2016 -
Author:
Andy Smith -
Pages:
5
The interims confirm the positive changes made by Falanx for the six months to September 2016. Revenues grew 54% to £1.2m, the loss before tax reduced to £0.7m from £1.3m and cash used in operations decreased from £1.6m to £0.4m. It also retained a net cash position. This positive momentum de-risks the earnings profile and we maintain our view that it will report a PBT in FY18. In recognition, we have increased our price target from 8p to 9p (which is still signi