TSK - TASK Group Holdings

[Checkmate]

Definitely going to tune in to the call… we need more information on the mix of revenues here. $14m total revenue combined for 6 months…?? WTF! Sounds like TASK team are going to restructure this shipwreck though so that’s good at least.

[Maxtrade]

Definitely going to tune in to the call… we need more information on the mix of revenues here. $14m total revenue combined for 6 months…?? WTF! Sounds like TASK team are going to restructure this shipwreck though so that’s good at least.

When is the call?

[LoungeLizzard]

Not much to cheer about, but going forward Plexure's culture, strategy and management will be superceded by TASK's, which has a much better pedigree and ability to deliver. I'm not prepared to press the eject button just yet - but the next 6 months will need to show improvement on all fronts.

[bullfrog]

The operational review has concluded that the previous strategy has not
generated material sales, and is no longer relevant in a group which has a
broad, state-of-the-art platform in the combined TASK + Plexure offering.

New broom really shaking it up. Encouraging proof of concept with the Pita Pit contract, both in increased scope and time extension. TASK knew about the $8.5m loss before merger, and still went ahead. The reasons for the merger haven't changed, costs due to restructure are a given and some nice contract wins over the last 3 mths.

This contract has now been revised and extended to include the full TASK technology stack, highlighting the benefits of the joint Group capabilities. Importantly, the combined TASK + Plexure platform is able to be deployed at significantly lower cost than the original Plexure-only offering due to the benefits of a single integrated solution. The extended contract (from 3 to 5 years) includes the addition of POS and kiosk services, kitchen video, digital signage, third party delivery aggregations (e.g. uber eats), online ordering, loyalty and a mobile app.

Seems to me that it's a SAAS that companies want and it's scaleable. Now they need the right team, and we all know what operational reviews and internal consultations are all about.

[Balance]

HE who laughs last, laughs the loudest.

Caution :

PLX made a loss in H2.

And they were still recruiting to service the McD contract. So costs are going to increase in H1 2021.

Seen too many of these type of deals in the past - IBM was infamous for sucking small service provider contractors dry before picking them up for a song, or simply allowing them to fall by the wayside after completion of contracts.

Then there’s Wynyard and Provenco - heaps of long tail contracts requiring extensive servicing & support which ended up bankrupting both.

Better hope that PLX’s McD contract is different! 😳

B S Bal, can you ever admit you got this one wrong, let it go and get back to MMH !

ps there is another back door listing that you haven't rubbished and slagged off, MEE , and your old friends are all over that one!!

Balance's comments re customers are a distraction and reflect his bias.

Sure PLX may have been strongly linked to McD customers at one stage. But this will change as other clients grow and PLX's contracts evolve. Here's some pertinent comment from the just released AR.

The Company’s revenue from contracts with customers of $25.251m does not directly correlate to our user numbers. This is because over 87% of the Company’s revenue from contracts with customers is linked to contracts that were signed in 2014 with pricing mainly based on store numbers. Only a small percentage of FY20 revenue from contracts with customers is linked to consumer usage. In 2019, this pricing model was changed with new customer contracts being based on digital adoption, which will mean that as consumer usage grows so too will the Company’s revenue from contracts with customers.

From this we can deduce that future revenues will more accurately reflect customer and usage numbers. Plus with user numbers set to increase from 187mill to 500 mill, there will be increased benefits of scale.

https://www.sharetrader.co.nz/showth...imited/page346

[pg0220]

Importantly, the combined TASK + Plexure platform is able to be deployed at significantly lower cost than the original Plexure-only offering due to the benefits of a single integrated solution.

TASK seems to have a significantly better product developed with good standards and practices and that can help Plexure from bleeding so much. It's also good that Plexure now knows that their previous expand strategy didn't work and want to review operations.

[Balance]

TASK seems to have a significantly better product developed with good standards and practices and that can help Plexure from bleeding so much. It's also good that Plexure now knows that their previous expand strategy didn't work and want to review operations.

They are stuck with the McD contract.

[pg0220]

HE who laughs last, laughs the loudest.

Bal is a good guy with good insights. What do you think about TASK?

[RupertBear]

[QUOTE=Balance;925536]HE who laughs last, laughs the loudest.

Didnt think it would take long for you to come out gloating

gloating

/ˈɡləʊtɪŋ/


adjective

• dwelling on one's own success or another's misfortune with smugness or malignant pleasure.
  
  
  
  
  
  
  
  

[Balance]

[QUOTE=RupertBear;925543]

HE who laughs last, laughs the loudest.

Didnt think it would take long for you to come out gloating



[/COLOR]

No - just a reminder of all the comments made by certain posters who thought they were so clever, when I cautioned about the McD contract.

I lost money with Provenco and do not wish others to experience the same with Plexure.

Fair enough?