Shares in Amino Technologies (AMO) had recently been slipping back towards 100p, but are currently recovering on the back of updates from the company. One is on “an end-to-end solution that combines Amino's IPTV and TV Everywhere expertise with 24i's leadership in video experience design and application development… first joint Amino and 24i customer agreement since Amino acquired 24i in July”...
That is for deployment with Dutch mobile virtual network operator Youfone. It is stated the “solution is expected to be live at Youfone in Q2 2020”, though it’s a, non-regulatory, RNS Reach announcement suggesting likely limited near-term financial contribution. However, there’s also a “Trading update, board changes & notice of results”. That includes “in recognition of 24i's strategic importance to the future growth of the group, Joachim Bergman, currently co-CEO of 24i, will join the board, effective today in that capacity and as an Executive Director… Steve McKay and Michael Clegg will step down from their non-executive board roles effective today. The board now comprises three Executive Directors and three Non-Executive Directors”.
Also “24i continues to make good operational progress” and overall group trading for the year ended 30th November 2019 “expects to report… in line with market expectations. The group continues to deliver excellent operating cash flows, with a net cash position of $1.4m at 30 November 2019 (30 November 2018: $20.3m) reflecting the impact of the 24i acquisition and dividend payments”.
We noted on July re-recommendation to look for a full-year pre-tax profit in excess of $10 million, generating earnings per share of $0.128 and seeing a maintained dividend per share of 7.3p – they suggesting a then price/earnings multiple of 12.6x and a dividend yield of 5.7%. With the valuation now looking even more attractive, “the integration of 24i into the group now complete, we look forward to accelerating our evolution to higher margin software and recurring revenues” and ahead of the results statement in February, the shares remain a Recovery buy.
This article first appeared on the N50 website which Tom Winnifrith runs with Steve Moore & Lucian Miers. To access the website ahead of the next share tip from Tom & Steve and a new shorting piece later this week click HERE
Filed under: Amino Technologies, Muddy Waters, NMC Health, Oracle Power, LightwaveRF, Unilever
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