13th Jan 2022. 8.58am

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Regency View:


Bango’s FY revenue growth ahead of expectations

Bango (BGO) released a bullish trading update this week, to kick start the New Year in style!

The mobile payments platform said Full-Year revenue jumped 32% to $20.7m (FY20 $15.7m), delivering revenue growth ‘ahead of expectations’.

End User Spend (EUS) on Bango’s platform came in at more than $4bn, almost double the $2.4bn seen in 2020.

Adjusted Full-Year earnings (EBITDA) is likely to be at least $6.1m (FY20 $6.0m), in line with expectations. While net cash increased 22% to $9.6m (31 Dec 2020 $7.9m).

Paul Larbey, CEO of Bango, said:

“The launches of new Bango powered services by Microsoft and Amazon illustrate the increased importance of the Bango platform for the world’s largest online merchants and highlight the trust they place in us. The resale and bundling platform deals deliver a growing, recurring revenue stream alongside the existing payments business”…

“Bango technology and our partnerships give us a significant advantage as we expand in large, fast growth markets. A strong balance sheet and a strategy of investing for growth means we are well positioned to realize our goal of becoming the technology behind every payment choice.”

BGO Daily Candle Chart

BGO Daily Candle Chart

Midwich buy majority stake in Cooper Projects

Audio Visual specialist, Midwich (MIDW) announced on Tuesday that it had snapped up a 65% stake in Cooper Projects Limited, the parent company of DVS Limited, a UK based distributor of video security products.

The deal is worth an initial cash consideration of £8.6 million, followed by an additional fixed and performance linked amount of up to a maximum of £6.4 million twelve months later.

DVS provides solutions for trade customers throughout the UK, across key verticals including the corporate, retail and residential markets.

In its latest audited financial statements, which were in respect of the year ended 31 October 2020, the Cooper Projects Limited generated revenues of £37.4m and profit before tax of £2.1m. Net assets as at 31 October 2020 were £7.6m.

The market’s reaction to the deal has been relatively muted, with Midwich’s share price continuing to consolidate just beneath key resistance.

MIDW Daily Candle Chart

MIDW Daily Candle Chart

Central Asian Metals seeing ‘no disruption’ from Kazakhstan troubles

Central Asian Metals (CAML) published a Q4 and Full-Year operations update on Tuesday for the Kounrad dump leach, solvent extraction and electro-winning (‘SX-EW’) copper recovery plant in Kazakhstan (‘Kounrad’) and the Sasa zinc-lead mine in North Macedonia (‘Sasa’).

CAML said it produced 14,041 tonnes of copper at Kounrad which was above the guidance range.

While zinc and lead production at Sasa was marginally below guidance range, producing 22,167 tonnes of Zinc and 27,202 tonnes Lead.

2022 production guidance was as follows:

  • Copper, 12,500 to 13,500 tonnes
  • Zinc in concentrate, 20,000 to 22,000 tonnes
  • Lead in concentrate, 27,000 to 29,000 tonnes

The update follows a period of significant unrest in Kazakhstan and CAML said it was “closely monitoring the situation” which “currently appears to have stabilised”. Adding that “to date, there has been no disruption to Kounrad’s operations, and 2022 copper production is in line with expectations.”

CAML Daily Candle Chart

CAML Daily Candle Chart

Mpac reports strong FY21 and encouraging outlook

In a Full Year trading update, released yesterday Mpac Group (MPAC) said strong H1 2021 order intake continued through H2…

The packaging and robotics company had a “strong FY21” and expects to report revenue, underlying profit before tax, and closing cash “in line with market expectations”.

Order intake, revenue and underlying profit before tax have all increased over the period, despite the impact of the pandemic which had caused a global supply chain crisis and problems with labour availability.

Mpac ended 2021 with a closing order book of circa £77.0m (December 2020: £55.5m) which Mpac said provided “good coverage of 2022 forecast revenue”…

“This, along with a healthy prospect pipeline, means the Group has an encouraging outlook for FY22” the statement added.

MPAC Daily Candle Chart

MPAC Daily Candle Chart


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