Archive for April 2020

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Proactis CEO, Tim Sykes, and CFO, Richard Hughes, present the Group's half year results for the period ending 31st January 2020.

Tim Sykes, CEO
Introduction - 00:19
COVID-19 - 00:22
Key messages for the period - 03:10
Performance highlights – 04:53

Richard Hughes, CFO
Financial highlights – 07:33
Reported to adjusted analysis - 10:38
H1 revenue analysis - 11:15

Tim Sykes, CEO
Growth strategy update - 11:41
Return to organic growth in ARR - 15:07
Customer retention - 16:51
bePayd - 18:40
Summary - 20:54
Outlook - 21:34
Q&A – 22:32

PROACTIS Holdings PLC is a United Kingdom-based company, which is a Spend control and e-Procurement solution provider. The Company is engaged in the development and sale of business software, installation and related services. It offers a range of solutions, such as PROACTIS Source-to-Contract, PROACTIS Purchase-to-Pay and PROACTIS Supplier Network solutions. It offers managed services, such as procurement-related managed services, such as Sourcing and Content Management; Finance-related managed services, such as Invoice Data Capture and Accelerated Payment Facility, and information technology (IT)-related managed services, such as Application Hosting & Management. Its Solutions for Finance and Procurement include cloud, hosted or on-premise software applications. PROACTIS Spend Analysis offers company-wide data on users' laptop, tablet or mobile. Its PROACTIS Invoice Data Capture turns paper, fax and Portable Document Format (PDF) invoices into system-ready electronic records.

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Judges Scientific Chief Executive David Cicurel and Group Finance Director Brad Ormsby present the Group’s 2019 full year results. Recorded 18th March 2020

David Cicurel, Chief Executive.
Introduction – 00:17
About Judges – 00:39
The Judges group - 01:44
Customers - 02:38
Key messages - 03:40

Brad Ormsby, Group Finance Director
Financial highlights - 05:37
Performance - 07:26
Order intake - 08:20
Revenue summary - 09:50
Balance sheet & cash flow - 10:26
ROTIC -12:06
Diversification - 12:51
Financial History - 13:12

David Cicurel, Chief Executive.
Growth drivers - 14:03
Acquisitions - 18:22
Acquisition criteria - 19:55
Post acquisition - 23:28
Outlook - 25:22
Investment case - 28:07

Judges Scientific PLC is primarily engaged in the designing, manufacturing, and sale of scientific instruments. The company operates two main operating segments: Materials Sciences and Vacuum. The firm specializes in the acquisition and development of a portfolio of scientific instrument businesses. The company has operational footprints across the United Kingdom, Rest of Europe, North America, and Rest of the world. The company operates in two operating segments: Materials Sciences and Vacuum.Judges Scientific PLC is engaged in designing, manufacturing and sale of scientific instruments.

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Bear markets history and the future – 01:00
Portfolio performance ytd – 17:33
Bioventix (BVXP) – 19:17
Best of the Best (BOTB) – 21:29
Nintendo (TYO: 7974) – 23:18
4Basebio (ETR: 4BSB) – 25:40
Arcontech (ARC) – 27:45
4BaseBio (ETR: 4BSB) – 34:50
Placings – 46:57
Valuing a company incorporating debt – 51:44
Q&A – 59:05

About Leon Boros Leon is a recently retired private investor. Prior to his retirement he was founder and managing director of Equity Strategies, a boutique corporate finance firm. Leon started his career at EY where he qualified as a Chartered Accountant.

Leon has been investing since his late teens. In 1993 he opened his first PEP and has since achieved annualised returns of 18.42% (to Dec 2019).

Leon was previously a non-executive director of ShareSoc. Twitter: Leon Boros @Boros10  

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By Stuart Simms, CEO

XLM’s business - 00:28
XLM in numbers - 01:36
2019 overview - 02:48
Update on Google de-ranking - 05:07
COVID-19 update - 06:55
Current trading and outlook - 08:53
Financials - 10:07
Transformation strategy - 11:34
Summary - 17:10

XLMedia PLC is the United Kingdom-based online performance marketing company. The Company focuses on paying users from multiple online and mobile channels and directs them to online businesses who, in turn, convert such traffic into paying customers. The Company's segments include Publishing, Media and Partners Network. The Company owns over 2,000 informational Websites in approximately 20 languages. Its Media division acquires online and mobile advertising targeted at online traffic with the objective of directing it to its customers. It buys advertising space on search engines, Websites, mobile and social networks and places advertisement referring users to its customers Websites or to its own Websites. It manages marketing partners, whose role is to direct online traffic to its customers. Its partner program enables affiliates to have a single point of contact for directing traffic.

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Carl Cavers, Founder & CEO, David Wilton, CFO present Sumo Group’s 2019 full year results.


Sumo Group plc is a United Kingdom-based company that provides development services to the video games and entertainment industries. The Company’s operating businesses include Sumo Digital Ltd. (Sumo Digital) and Atomhawk Design Ltd (Atomhawk). Sumo Digital is a developer of AAA-rated video games, providing both turnkey and co-development solutions to blue-chip client base. Atomhawk is a visual design company that provides services to the games, film and visual effects industries. Together, the Company delivers visual and development solutions, which include initial concepts and pre-production, production and development, and post-release support.  

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The piworld Thursday webinar with Jamie Streeter, (aka @CompoundIncome)

Jamie outlines his approach to investing and his Corona virus investing strategy.

Overview – 00:51
Jamie’s background – 01:40
Evolution as an investor – 02:08
S&P over 35 years – 04:34
Poll: have we hit the low? – 07:26
Why Compound Income? – 08:27
Annualised real returns on asset classes – 11:30
Jamie’s investment philosophy – 13:38
Portfolio construction – 15:37
How Jamie finds shares & further research – 19:12
How Compound Income Scores work – 20:10
Metrics used to identify Quality Income Growth stocks Comparing Vodaphone & Unilever – 21:50
Performance since 2009? – 27:04
Outlook for dividends post Covid – 28:16
A tick shape or W shape recovery? – 30:39
Cycle of greed and fear – 32:06
Dead Cat bounce or ‘off to the races’? – 32:42
How’s Jamie dealing with CV19 & surviving it? – 39:14
Where are we now, and what does the future hold? – 40:18
Summary & concluding thoughts – 43:03 Q&A – 44:40

About Jamie Streeter
Jamie worked in the City of London for over 20 years as a Fund Manager for a number of top institutions. In his career he managed billions of £’s across a whole range of different funds from Distribution funds, Investment Trusts, OEIC’s / Unit Trusts & Pension funds. He was also involved in the management of Income funds more generally. In March 2009, he quit the City, escaped the rat race to “retire” and manage my own investments.

Jamie’s website:

Twitter: Jamie @CompoundIncome  

The presentation slides can be viewed here.

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The piworld Thursday webinar with Stephen English.

Stephen gives us his interpretation of the current COVID-19 markets and his investing strategy to navigate where we're at. Peppered with Stephen's wry humour, and full of investing gems.
It's superb!

Intro - 00:19
For those who don’t know you, give us a very short overview of your background – 00:42
What’s your thoughts on the current market, did you see it coming? – 01:17
Do you think the market has hit the bottom? – 04:17
What is your strategy? – 16:50
Has this changed the business case for any companies you hold? - 24:25
Liquidity: Could you sell if you wanted to? - 27:13
Who will be the winners? - 31:29
Who will be the losers? - 39:29
What are you looking for in companies? - 44:46
Do you think there will be a credit squeeze, everyone holding onto their cash, so severe cashflow pressure? - 46:54
Will there be more M&A: survival of the fittest? Do you see this in any specific sector? - 47:46
What sort of recovery do you think we will have? U, V, W, L or a letter that doesn’t exist? - 50:57
And what structurally will change? (Supply chain, etc) - 54:11
How will government monetary and fiscal policy be financed? Do you think the IHT BPR status is in danger, or other taxes imposed? - 57:15
Q & A 1:02:43

Companies mentioned: Tristel (TSTL). Accrol (ACRL). Smart Metering Systems (SMS). Begbies Traynor (BEG). FRP Advisory (FRP). Strix (KETL). Tracsis (TRCS). Oxford Metrics (OXG). Shoe Zone (SHOE). K3 Business Technology (KBT) Alliance Pharma (APH). EMIS (EMIS). The Property Franchise Group (TPFG). Hollywood Bowl (BOWL). RA International (RAI).

The webinar slides can be downloaded here.

Stephen's Investment philosophy can be downloaded here.  

About Stephen English

Stephen is a Director of Investment Services, at Blankstone Sington. Stephen has managed Blankstone Sington’s award-winning AIM IHT service since inception in 2010. He’s an avid student of markets, authoring his own 12-page investment philosophy, he believes that investing is more ‘art than science’. Stephen is a Chartered Fellow of the Chartered Institute for Securities & Investments (CISI) and a CFA Charterholder.  


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John offers great insight to previous bull and bear markets, and how he pieced together when it was time to start buying again, because ‘no one rings a bell at the bottom!’ He shares both recent buys and sells, and answers extensive questions from those on the webinar, including the oil price, house builders, inflation and much more.

Well worth watching if you're trying to make sense of the markets today.

John’s background - 00:33
Learnings from historic bear markets - 02:54
John’s view on where we’re at & the outlook for short and medium term? – 07:40
John’s 2019/20 strategy - 13:46
Gold - 15:37 & 22:31
How did you know it was time to buy in mid March? - 23:00
Don’t you worry about the high risk? – 30:32
Q&A – 34:30

Stocks or companies mentioned:

Wisdom Tree Physical gold ETF - 15:16; Anglo Asian Mining 15:22; L&G Gold mining ETF - 15:27; Van Eck Turner Gold Mines – 15:30; Strix (KETL) – 17:06&20:27; SDI Group (SDI) - 17:14; Anglo Pacific (APF) - 17:19&20:31; TR European Growth Trust (TRG) - 17:22; Baillie Gifford Shin Nippon (BGS) - 17:24&20:28; Scottish Mortgage Trust - 17:37; Worldwide Healthcare Trust & Biotech Growth Trust (18:14&38:40); Renew Holdings (RNWH) - 18:24 Bioventix (BVXP) - 18:52; Rockrose Energy (RRE) & Serica (SQZ) - 19:15 Games Workshop (GAW) – 20:30; (MONY) – 20:37&36:50; Watkin Jones (WJG) – 20:38; Paypoint (PAY) – 20:39; Schroder UK Mid Cap Fund - 20:40&21:36; Sylvania Platinum (SLP) – 21:16; Easyjet (EZY) - 31:47; International Hotel Group - 33:50; Next (NXT) – 37:30; Aberdeen Standard European Logi (ASLI) 49:16.  

The presentation slides can be downloaded here.  

About John Rosier
In June 1984, John left university with a degree in Zoology and started work in The City of London. He enjoyed the first 14 years of his career at Fleming Investment Management, initially as an analyst and then as a UK portfolio manager; in 1997 he was appointed Head of UK Equities. He was a director at Henderson Global Investors from 1998 until 2004, before moving to the West End and working for two hedge funds. John’s investment career at Flemings and Henderson was focused on managing UK equity portfolios for corporate and local authority final salary defined benefit pension schemes as well as the reserve fund for the NSPCC. During 2009 John left full time employment since when he has been managing his own portfolio.  


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Tremor CEO Ofer Druker presents the Company's 2019 full year results.

Introduction - 00:17
The business - 00:46
Tremor today - 01:13
Tremor's new position in the market - 02:05
2019 highlights - 02:34
Traditional TV budgets shifting to digital video - 04:26
Ad spend trends in the US - 05:13
Business flow - 05:56
Global presence - 07:21
Advertisers & clients - 07:31
Brand advertising (Tremor Video) - 08:17
Growth in PMP & Self-serve - 08:58
Connected TV - 10:24
The Exchange - 11:20
Data audiences - 11:57
Unruly acquisition - 12:49
Growth engine - 15:07
Summary - 15:39
Outlook - 16:59

Taptica International Ltd offers data-focused marketing solutions that drive execution and brand insight in mobile, leveraging video, native, and display to reach the users for every application, service, and brand. The Company’s technology is based on artificial intelligence and machine learning at big data scale. The Company works with more than 450 advertisers, including Amazon, Disney, Facebook, Twitter, OpenTable, Expedia, and Zynga, and more than 50,000 supply and publishing partners worldwide.

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