CentralNic (CNIC)

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Engaged in the provision of independent global domain name registry services.

26-Sep-2018 – 52p – £88.7m – PER 14.0

Interim Results For The 6 Months To End June 2018 – Revenue up 5.5%, Gross Profit up 30.7% with Net Debt at £8.6m (H1 2017: Net Cash £7.7m). H2 weighting should see FY in-line.

First time I have looked at this and will remain Neutral for now whilst I do some more research.

4-Feb-2019 – 50p – £86m – PER 12

Trading Update For The 12 Months To End December 2018 – In-line, some board changes also announced.

I don’t yet have a view either way here but the Stocko EPS figures (forecast 20%+ growth in 2018E and 2019E) suggest it is worth a further look – So I will, hopefully this week.

13-May-2019 – 48p – £82m – PER 11.4

Results For The 12 Months To End December 2018 – Revenue up 100% yet there’s still a Loss After Tax of -£4.9m (-£1m last time), Net Debt is down from £7.2m to £2.5m.

Still not had a chance to look into this in any detail but would like to see that Revenue growth turn a profit!

24-Jun-2019 – 63p – £113m – PER 14.2

Trading Update And Bond Issue – 50m Euro Bond issued (Euribor +7% p/a) – FY to be ahead of market consensus.

Could be value here I am going to do a bit more research.

2-Sep-2019 – 54p – £98m – PER 11.7

Interim Results For The 6 Months To End June 2019 – Revenue up 225%, Gross Profit up 127%, FY to be at the top end of forecasts.

This looks quite interesting, hopefully will see updated Broker notes soon.

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