I note that the buy side was empty for part of the day today.
Might take a fair kick to get this dog moving again?
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I note that the buy side was empty for part of the day today.
Might take a fair kick to get this dog moving again?
Did anyone catch the AGM earlier in the week? I'm keen to know more about the progress (if any) of monetising their NZ base.
Australian acquiring seems to be going well. I've recently seen listings on Seek for field agents, sales staff etc so hopefully terminal number growth accelerates!
Onwards and upwards hopefully.
How does a company growing at 3% and accumulated losses of $40m become a good choice for putting your money in? Annual loss of $2m+.
Expenses increased by $4m and revenue by $500k. I don’t think investing in companies flogging eftpos terminals is a wise move. Claims by the Chairman that his new director hires will/have helped with sales and marketing is a joke. Time for replacements?
It leads to the question: are they really better than the Australian incumbents? Does anyone care?
Wow! Achieving that price for the mature and less profitable part of the company is a great result.
Question is, what value will the market assign to the cashed-up, more profitable and very fast growing Australian operation.
Onwards and upwards.
TRANSACT: SPY: Sale of NZ Business and Assets .
A great result indeed for what seems a pretty mature business.
I have bought an initial parcel on the ASX (SMP).
Over one million terminals in Aus with the push to cashless society increasing. Cashback coming and maybe takeover sharks circling? The time is ripe for SMP to grow fast after years of not. We will see. DYOR
https://egpcapital.com.au/wp-content...2/2019_Nov.pdf Great analysis page 5
SHINTR: SPY: SPH Notice - Milford Asset Management Limited
I took a small position on smartpay post-announcment. Hoping to catch that cash distribution that no one seems to really care about? It's 20c for every share...
I assume people are weary of the deal with verifone going sour? Or people don't want to get invested in a company that seems to be a little bleak in terms of its future?
I do note there has been significant algo trading on this stock - wonder if big institutions are trying to keep the stock price down so they yield higher.
Hi Cadalac , Its been a dog stock for re 7 years so people have permanently turned it off in their investment minds by the looks of it. But what a price and what sudden transformation and great value even now imo. DYOR
" At the end of the month, the market capitalisation of SMP was about $77m; with about $67m coming through the door once the NZ business settles (less any costs/taxes). In simplistic terms, you’re paying about a $10m market capitalisation for a materially better business than the one that just transacted for $70m. To say we still think the current market capitalisation of SMP materially undervalues the business is to significantly understate our view of things."
https://egpcapital.com.au/wp-content...2/2019_Nov.pdf
I'm really excited about Smartpay's prospects.
I see their long time tech partner are releasing a suite of new products into Australia. I hope Smartpay are all over this!
https://www.itnews.com.au/news/banks...erminal-535496
Guess people are waiting for the deal with verifone to actually be formally accepted?