logo-loader

Northland Capital Partners View on the City - Techfinancials (LON:TECH)

no_picture_pai.jpg

TechFinancials (TECH.L)
SECTOR – SOFTWARE & SERVICES
RATING – CORP*
MARKET CAP – £13.1m
CURRENT PRICE – 18.0p#
ANALYST – MIKE JEREMY

Year-end Dec                     2015A               2016A 
Revenue (US$m)               13.6                  21.3
EBITDA (US$m)                 0.6                     2.8 
Adj. pre-tax Profit (US$m)  (0.1)                   1.3 
Adj. EPS (US$c)                (0.2)                    1.7                                                       Forecasts
DPS (US$c)                          -                         -                                                         not provided
Net Cash/(Debt) (US$m)    3.1                     7.7 
P/E (x)                                 NA                    5.5 
Dividend yield (%)               NM                   NM 
EV/EBITDA (x)                   1.8                     0.6 

SOURCE: Northland Capital Partners Limited estimates. #Priced at prior day’ close. *Northland Capital Partners Limited Acts as Broker to TechFinancials and therefore this information should be viewed as a Marketing Communication.

Sale process of two subsidiaries terminated.

NORTHLAND VIEW
 TechFinancials announces, further to its announcement of 24th November 2017, that it has decided not to progress with the proposed sale of shareholdings in its non-core subsidiaries, B.O. TradeFinancials Limited  (BOT) and MarketFinancials Limited (MF), to S. Win Holdings.
 The reason given is that as of 31st January 2018, S. Win Holdings had not secured the relevant regulatory approvals for the acquisition of either BOT or MF. 
 TechFinancials reports that it is currently re-considering its options with regard to its shareholdings in BOT and MF, and will make a further announcement in due course.  Instead, the company will continue to focus attention on developing its Forex, CFD and blockchain-based products and technologies.
On 24th November TechFinancials had estimated the total sale consideration at US$400,000.  At that time it emphasised its commitment to Forex, CFD and the development of blockchain-based products.  It subsequently (12th December) provided an update on its Cedex blockchain online diamond exchange.  The focus on innovative product development remains whilst the sale process remains, as the company notes, in abeyance.

COMPANY DESCRIPTION
TechFinancials is a leading technology provider to binary options brokers.

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Bulls Bears & Brokers: Martin Place Securities Barry Dawes on market highs...

Martin Place Securities executive chairman Barry Dawes speaks to Proactive about the highs and lows of the markets, and takes us through his bulls and bears outlook. Dawes says there are record highs in equity markets, bond markets are turning down again, currencies are showing trendless...

15 hours, 30 minutes ago

3 min read