Blancco Technology (BLTG)

Blancco Technology BLTG Logo

A leading global provider of mobile device diagnostics and secure data erasure solutions.

7-Nov-2017 – 54.5p – £34.9m – PER 6.68

Final Results For The Year Ended June 2017 – This is in the “too hard for me pile” with the update being based mainly on adjusted 2016 figures. Stand out is no final Dividend.

The fact the latest results are just too complicated for me to figure out – And, the fact there will be no final Dividend is enough for me to be avoiding this one for now.

19-Jan-2018 – 75.08p – £48.0m – PER 38.9

Trading Update For The 6 Months To End December 2017 – A load of waffle and then we get to the point – “We now expect full year revenues to be towards the lower end of our guidance range while AOP (Adjusted Operating Profit) and cashflow remain in line”. Additionally “The CEO recruitment process is progressing well and we will update the market at the appropriate time”.

Not the most confident of updates, for sure I am not interested here at present.

20-Mar-2018 – 64p – £41.0m – PER 27.4

Interim Results For The 6 Months To End December 2017 – Not the simplest of updates, I am going with it doesn’t look good.

This is going to remain on my Avoid list for now.

11-Jul-2018 – 74p – £47.4m – PER 18.4

Trading Update For The 6 Months To End June 2018 – Revenue up but not as much as expected with Adjusted Operating Margin higher than expected.

I am not really sure what this update will mean when we see the actuals – It will remain on my Avoid list until then.

25-Sep-2018 – 86p – £55.0m – PER 23.5

Interim Results For The 6 Months To End June 2018 – Revenue up just 2% but looks like the Loss is much less than last time – Excited about the future!

The PR agency for this company should be shot – This remains on my Avoid list as I just can’t understand the results, ever. Who cares that you are “excited about the prospects ahead”, more people care about whether you will be on track to meet or exceed expectations or not – And, perhaps, what they are. Most people are “excited about the prospects ahead”, rant over!

19-Feb-2019 – 87.5p – £57m – PER 22

Interim Results For The 6 Months To End December 2018 – Revenue up 19%, Adjusted Operating Profit up from £0.6m (restated) to £1.6m, confident of meeting FY expectations.

The latest Broker note I can reference is from Edison and it forecasts negative EPS growth – So if this is the expectation, it’s not for me at present.

1-May-2019 – 122p – £80m – PER 31.3

Trading Update For The 12 Months To End June 2019 – Expects Revenue to be marginally ahead of market expectations and Adjusted Operating Profit to be comfortably ahead.

I need to look into this a little more as there seems to be quite a material difference between Broker forecasts and those on Stockopedia.

Stockopedia Banner