The Dutchman
08 May 2018
Re: Good year end trading update today Agreed, all seems t be positive. However I must admit to some reservations about the board changes. The UK Corporate Governance Code requires a genuinely independent Chairman and ot someone who was previously Chief Exec. This is for a reason; it helps foster independent thinking , encourages challenge and helps avoid "Group Think". I realise that as an AIM Company Ideagen does not have to comply, nevertheless I don't think it's good. WE really need someone independent and heavyweight who can challenge the executives especially wrt how they account for contracts - always a weak area in IT and Software companies I'm afraid.
gretel
08 May 2018
Good year end trading update today Excellent update as always from IDEA - nicely in line, with revenues slightly ahead of expectations, recurring revenues increasing nicely, and above all a very optimistic short and long-term outlook:[link] Hornsby, Executive Chairman:"We are pleased to report that the Group has continued to perform well in delivering another year of high quality earnings growth underpinned by strong cash generation. We continue to grow organically and to increase the percentage of our revenues derived from recurring business. The Group has significant contracted work in progress, a growing base of recurring revenues and a strong pipeline of new business opportunities which provides the Board with confidence for the current year and beyond."
gretel
17 Apr 2018
Another contract win [link] City Council ensures its Corporate priorities remain on track with Ideagen’s software10 April 2018 The City of Sunderland local authority will monitor strategic and operational performance indicators and actions through Ideagen’s Pentana Performance product A major UK city council is to ensure its four-year corporate plan remains on track by implementing a software system developed by Ideagen.Sunderland City Council will monitor and track a series of performance indicators linked to actions, milestones, and accountabilities through Ideagen’s Pentana Performance system.It’s Corporate Plan, launched in 2016 and set to end in 2020, is a key element of the Council’s overall Performance Management framework.Pentana Performance will replace a series of manual processes, spreadsheets and access databases, allowing Council staff to electronically manage performance data through a single system, highlight areas of improvement and react quickly to risks.etc"
Willow67
16 Apr 2018
Re: Featured in today's Shares Magazine I think the telling comment here is the final one. Ideagen’s story is a fantastic one that has a long way to run but growth is steady, not spectacular, and a mid 20’s multiple coupled with organic growth of 10% won’t prompt much movement up in the shares. The acquisition added 0.2p of EPS to forecasts, nothing that’s going to make a significant difference on its own. The U.S. foothold seems to make enormous sense and i’m sure most of the new contracts will continue to be from this region. My hope is they increase in size and that’s the driver of faster earnings growth. As always looking forward to seeing the story unfold.
The Dutchman
12 Apr 2018
Directors sell shares RNS announcements over the last couple of days show the directors selling almost a million shares -- what do they know that we don't?
gretel
12 Apr 2018
Featured in today's Shares Magazine "Ideagen makes smart US move with Medforce dealFirst acquisition Stateside provides platform for faster growthRED TAPE AND compliance software supplier Ideagen (IDEA:AIM) has made its firstacquisition in the US. We believe this is a significant stepping stone that couldrealise substantial value for the company and shareholders.New York-based Medforce provides productivity and legal compliance solutions thathelp streamline processes for healthcare organisations and prepare them for auditing.Healthcare is one of the most highly regulated industries in the world. Ideagen is paying $8.7m for Medforce, or about £6.1m at current exchange rates.There are several things to like about the purchase. First, it gives Ideagen a firm base across the pond. About half of new business currently being won by the company is in the US. Medforce is also profitable, chalking-up about £0.7m ofearnings before interest, tax, depreciation and amortisation (EBITDA) on rough £3.4m revenue in 2017. A high proportion of those revenues are recurring in nature, 82% according to Ideagen.Paid out of cash and debt facilities, that means no new shares are being issued sothere is zero dilution to existing Ideagen shareholders.While analysts raised forecasts for the full year to 30 April 2019 to £11.4m of pre-tax profit on £42.8m revenue, we believe there is scope to outstrip those estimates.SHARES SAYS: Ideagen remains a high quality business that deserves its premium 2019 price to earnings multiple of 24.1"
gretel
10 Apr 2018
Tipped today in the IC [link] (IDEA) has bought Medforce Technologies – a healthcare software business – for $8.7m (£6.2m). This marks the information management software supplier’s first US acquisition, and will be funded with cash and existing debt facilities.Medforce has all the hallmarks of an astute acquisition. It is growing, profitable and cash generative. Sales for the year to December 2017 of $4.7m comprised more than 80 per cent recurring revenues, while cash profits and post-tax profits were $1m before $400,000 of non-recurring costs. Its ‘Center’ platform is used by more than 300 US-based healthcare customers. All being well, the business should enhance Ideagen’s earnings for the year to April 2019.Ideagen is an acquisitive company: it made four purchases last financial year. We learnt within the recent half-year results that these have integrated to plan, boding well for Medforce’s performance under new ownership. IC ViewMedforce should bring further growth in the US, while boosting Ideagen’s recurring sales. At 116p, the shares now trade at a demanding 28 times finnCap’s forecast adjusted EPS of 4.2p for the 2018 financial year. But they are also up 43 per cent on our buy tip, and we don’t expect this acceleration to tail off. Buy."
Willow67
06 Apr 2018
Re: RNS: excellent American acquisition Very happy they are funding with debt. This is why cash generation rather than paper profits is so important. In 6 months they’ll be debt free again i’d bet. Plus it’s in the fastest growth market. Ticks all the boxes!
gretel
06 Apr 2018
RNS: excellent American acquisition Terrific stuff - and highly and immediately earnings-enhancing, adding $1m of PAT with no share dilution.With 300 clients "including a number of Fortune 500 companies", there must be huge cross-selling opportunities plus other cost synergies.And 82% recurring revenues too. Lovely 
))[link]
gretel
04 Apr 2018
New contract win in the USA Another contract win, this time in the USA - I'd never heard of Dawn Foods, but it seems they have annual turnover of between $1-2 billion:[link] Food Products, Inc. to support enterprise risk management across its global operations with Ideagen’s software29 March 2018The US company will implement Pentana Audit across its global internal audit operations including manufacturing sites in the USA, Mexico and EuropeDawn Foods Products, Inc., providers of quality bakery products and innovative food solutions, is to work with Ideagen to improve processes around enterprise risk management across its global operations.The US-based foods company will implement Ideagen’s Pentana Audit software for its worldwide internal audit operations which includes operational audits of its distribution centres and key manufacturing sites in Michigan, USA, Naucalpan in Mexico and Amsterdam, the Netherlands.Pentana Audit will also help Dawn Foods’ internal audit team conduct financial audits as well as extensively support external auditors during the business’ interim and year-end financial audits.Vadiraj Chenji, Director of Internal Audit at Dawn Foods, said Pentana Audit will bring with it efficiency and time savings – as well as improve enterprise level risk management (ERM). etc"
gretel
26 Mar 2018
News of expansion Asia-Pacific [link] to expand operations in Southeast Asia26 March 2018 Ideagen, the global software firm, is expanding its operations in Southeast Asia.The project involves Ideagen’s office in Kuala Lumpur, Malaysia, and will enhance the company’s support, development and service capability for its 3000+ client base.The expansion, relocation and refurbishment will strengthen Ideagen’s operational foundations across the Asia-Pacific region as well as ‘future proof’ the business against potential operational risk.The new Kuala Lumpur office will act as a central hub for Ideagen’s expanding business in the region following prominent projects with AirAsia, Lion Air, HKExpress and Haeco. Around 40 members of staff will be located there, with Ideagen already adding software development expertise.Barnaby Kent, Ideagen’s Chief Operations Officer, said the expansion was a natural step for the company and would cement Ideagen’s place as a leader in the Governance, Risk and Compliance (GRC) marketplace.He added: “In recent years, we have witnessed rapid growth both through acquisitions and organically and this expansion project is a natural next step in Ideagen’s journey.etc"
Willow67
16 Mar 2018
Re: There's been no volume has there. Bit of a change today with 1.3m of volume and an overdue squeeze upwards in the stock. Hopefully something massive will be announced tomorrow!!! (Always good to dream)
The Sandpiper
08 Mar 2018
big spread on this, this morning
Willow67
08 Mar 2018
Re: New contract win It shows what quite stunning reach the company has around the globe for its products for something of its size. Continued strong execution of its strategy.
gretel
07 Mar 2018
New contract win IDEA's first contract win in Pakistan - I was previously unaware of Engro, but it has over £1 billion of turnover:[link] multi-national corporation becomes Ideagen’s first client in PakistanIdeagen has agreed a project with a multinational corporation in Pakistan to automate its internal audit operations.Engro Corporation, based in Karachi with subsidiaries across the globe, will implement Ideagen’s Pentana Audit software solution.Engro is one of Pakistan’s most progressive, growth oriented organisations and is involved in the production and distribution of fertilisers, foods, chemicals, energy and petrochemicals worldwide.Pentana Audit will enable Engro to automate its internal audit department and associated processes, replacing manual and paper documentation as it modernises its complete auditing landscape.etc.
