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Interim results season coming to a close

The interim results season is coming to a close in the UK small cap space while results activity across the pond remains subdued.

Progress Software - Interim results season coming to a close

The week ahead

Alfa Financial Software Holdings PLC (LON:ALFA), which provides software to the asset finance industry, reports interims tomorrow.  Its shares have risen by 41% since its trading update late last month, when it said that trading for FY20 is now ahead of current market expectations as the strong H1 performance had continued into July. It said that good progress in contract discussions combined with the year-to-date performance meant that expectations of FY20 revenue have now increased.  However, due to the pandemic, the early-stage pipeline remains weaker than it would like and the medium-term economic outlook is uncertain. This may impact on revenues in H221 and into 2022. The company said it expects to report H1 revenues of around £38mln with an EBIT of roughly £10mln and a net cash balance of around £68mln.

Blancco Technology Group PLC (LON: BLTG), which provides data erasure and mobile device diagnostics, reports annual results tomorrow. In its trading update in July, it said that FY20 results were expected to be in line with current market expectations with revenue of roughly £33.4mln and adjusted operating profit of around £4.0mln along with net cash of £6.7mln.

XLMedia PLC (LON: XLM), the digital performance publisher, reports interims tomorrow.  In its July trading update, it confirmed that the first half was impacted heavily by a manual penalty being applied by Google to over 100 of the company's websites (Google deranking) in January this year, along with the COVID-19 pandemic. The focus will be on the group’s business transformation, including the recent cost-saving measures, and the possible disposal of its Finnish casino assets. It said it expects to report H1 revenues of roughly $27.5mln, EBITDA of around $3.5mln and cash balances of about$27.9mln.

Minds Machines Group Ltd (LON: MMX), which owns and operates internet top-level domains, reports interim results on Wednesday. It expects to show a decline in H1 revenue of about5% despite a c 7% increase in billings. This reflects the shift away from one-off brokered billings to channel billings which are generally recognized as revenue over the life of the registration. However, cash generated from operations is expected to show an increase of 13% to c $2.5mln, reflecting the improvement in billings, with cash on hand at 30 June 2020 rising to $7.3mln.

1Spatial PLC (LON:SPA), which provides location master data management software and solutions, reports interim results on Wednesday. In its AGM trading update in July, it said that customer implementations and projects have largely continued as planned and it had seen a healthy level of new business secured in all geographies, with both new and existing customers, albeit some decision-making remains protracted.

Across the pond, tech-related companies scheduled to report this week include Progress Software, SYNNEX and Micron on Tuesday.

Google is expected to unveil its Pixel 5 phone, a new Chromecast and other new products at a virtual event on Wednesday.    

        Date Company Event Period ending
       
28-Sep Crossword Cybersecurity Interim results 30-Jun
28-Sep Instem Interim results 30-Jun
29-Sep Alfa Financial Software Interim results 30-Jun
29-Sep Blancco Technology Final results 30-Jun
29-Sep XLMedia Interim results 30-Jun
30-Sep Minds + Machines Interim results 30-Jun
30-Sep 1Spatial Interim results 30-Jun
Late-Sep Attraqt Interim results 30-Jun
06-Oct Smartspace Final results 31-Jan
13-Oct essensys Final results 31-Jul
Oct Mobile Streams Final results 30-Jun
Mid-Oct D4T4 Trading update 30-Sep
20-Oct Softcat Final results 31-Jul
30-Oct Seeing Machines Final results 30-Jun

Quick facts: Progress Software

Price: 38.79 USD

NASDAQ:PRGS
Market: NASDAQ
Market Cap: $1.75 billion
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