PIWORLD Investor Podcasts

Louis Hall, Co-Founder & CEO and Oliver Gilchrist, CFO present Cerillion interim results for the period ended 31st March 2021. Revenue is up 26% to £12.8m. Annualised recurring revenue is up 43% to £9m. Adj PTP is up 124% to £3.8m. EPS is up 105% to 11.5p. Back order book is up 74% to 42.1m. Net cash up 60% at 7.7m. H1 dividend is up 20% to 2.1p. Over the last three quarters CER have signed two of the largest contracts in the Company’s history. Not surprisingly management believes they are well-positioned to deliver their full year targets. Louis Hall, CEO 00:17 – Introduction 02:40 – About Cerillion 09:19 – Products & delivery 10:30 – Customers 12:52 – Market drivers 15:28 – Markets & channels 17:20 – Competitive landscape 20:42 – H1 Highlights 21:58 – KPI’s Oliver Gilchrist, CFO 23:00 – KPI’s continued 24:30 – Financial highlights 27:40 – Income statement 29:23 – Balance sheet 30:08 – Cash flow Louis Hall, CEO 30:49 – Sales pipeline 33:43 – Summary & outlook 34:20 – Q&A Cerillion plc is engaged in providing billing, charging and customer relationship management software solutions to the telecommunications market but also to the utilities and financial services sectors. The Company is a supplier and developer of telecommunication software solutions and equipment. It operates through four business segments, such as Services, Software, Software-as-a-Service and Third Party. The Services segment provides services to customers on new implementation projects and enhancements. The Software segment supports and provides maintenance for the software, as well as the licenses to use the software. The Software-as-a-Service segment offers monthly subscriptions for a managed service and products on a pay as you go service. The Third Party segment offers third-party services or licenses, and includes re-billable expenses and pass through of selling on hardware. It operates in Europe, the Middle East and Africa, the Americas and Asia-Pacific geographical markets.

Calnex Solutions CEO Tommy Cook and CFO Ashleigh Greenan present the company’s full year 2021 results to analysts on 25th May 2021. Tommy Cook, CEO 00:17 – Introduction 00:36 – About Calnex 03:08 – Customer base 04:54 – Innovation 07:00 – Review of FY21 09:47 – Business expansion 12:25 – Product lines Ashleigh Greenan, CFO 14:48 – Financial Highlights 15:08 – Financial KPI’s 17:04 – Customer metrics 19:04 – Income statement 23:32 – Cashflow Tommy Cook, CEO 25:42 – Growth strategy 27:59 – Outlook 29:17 - Q&A Calnex Solutions Ltd is a United Kingdom-based provider of test and measurement systems for the global telecom industry. The Company designs, produces and markets test instrumentation and solutions for network synchronization and network emulation, enabling its customers to validate the performance of the infrastructure associated with the telecom networks. The Company offers its network synchronization systems and solutions for mobile networks to work correctly and get synchronized with nearby mobile radio transmitters or base stations. Its network emulation products are designed to impair data traffic for the development of Ethernet Switches and Routers for deployment in large data Wide Area Networks, operated by both the traditional network operators and in data storage farms offering cloud computing services.

Ken Wotton, Managing Director, Public Equity at Gresham House, has an enviable track record as a fund manager. In this piworld interview, we learn more about how he achieves that, including the attraction of small and micro caps, how he selects companies in which to invest, the effect the pandemic had on his investing decisions, where he sees opportunities, and his views on the general market environment. This is rich fodder for all investors. 00:40 Ken’s background 02:47 Ken's funds at Gresham House 06:35 What performance Ken aspires to achieve across the funds 07:26 The attraction of the small and micro-cap sector 09:54 Market cap limits 12:13 Ken’s investing principles. How does he evaluate companies? 15:26 Valuing those companies and current valuations 20:43 Covid decisions: Loungers (LGRS), City Pub (CPC), Gym (GYM), Ten Entertainment (TEG), Everyman (EMAN) 27:28 Churn 29:08 What Ken's been selling and the opportunities 35:13 Ten Entertainment (TEG) 37:30 Inspired Energy (INSE) (Last two results presentations here) 40:18 Alpha FX (AFX) v Argentex (AGFX) (Last Argentex H1 results presentation here) 44:55 Inflation 46:51 Market volatility Ken is Managing Director, Public Equity, and leads the investment team managing public equity investments. He is lead manager for Strategic Equity Capital plc, LF Gresham House UK Micro Cap Fund, LF Gresham House UK Multi Cap Income Fund, and manages AIM listed portfolios on behalf of the Baronsmead VCTs. Ken graduated from Brasenose College, Oxford, before qualifying as a Chartered Accountant with KPMG. He was an equity research analyst with Commerzbank and then Evolution Securities prior to spending the past 12 years as a Fund Manager at Livingbridge and now Gresham House specialising in smaller companies. www.greshamhouse.com/individual/  

A short presentation by the management team summarising results, what's been achieved in the period and their objectives going forward. Paul Abberley, CEO 00:24 – Overview Ben Money-Coutts, CFO 01:35 – Financial Overview Paul Abberley, CEO 05:43 – Business Transformation Ian Sackfield, MD of IMS 06:54 – Investment Management Services Andrew Meigh, MD of Financial Planning 08:32 – Financial Planning John Porteous, MD of Central Financial Services 10:05 – Central Financial Services Paul Abberley, CEO 12:43 – Outlook & Current Trading Charles Stanley Group PLC is an investment company. The Company provides investment management services, financial planning and pension administration. The Company's segments are Investment Management Services, Asset Management, Financial Planning, Charles Stanley Direct and Support functions. The Investment Management Services division provides personal investment services to individuals, companies, trusts and charities and includes platform dealing, custody and self-invested personal pension (SIPP) and individual savings account (ISA) administration services. The Asset Management division provides specialist asset management services, through its range of pooled funds, active and passive model portfolios, inheritance tax

This is the third virtual StockSlam hosted by Damian Cannon. A very popular investor event where ten private investors ‘slam’ their best stock idea in just three minutes to a sophisticated investor audience, followed by questions which keep the slammers on their toes. Bite-sized nuggets to inspire your further research. Fast, factual and fun. 00:18 Introduction by Damian Cannon 03:00 Softcat (SCT) by Damian Cannon 09:44 Paypoint (PAY) by Jamie Streeter 16:40 CVS Group (CVSG) by D’Arcy Andrews 23:45 Ergomed (ERGO) by Lilian Nandi 31:33 Innovaderma (IDP) by Francis Evans 38:45 Just (JUST) by Dee O’Hare 45:36 Tremor International (TRMR) by Ed Croft 53:13 Orchard Funding (ORCH) by William Woodard 01:00:03 Celtic (CCP) by David O’Hara 01:07:31 Surgutneft Gas (SGGD) by Rob Mahan The next StockSlam is Wednesday 25th June at 6pm, we hope you can join us then, registration will be available on our events page next week.  

Here, David Ridley, MD gives us an overview of The Artisanal Spirits Company, which is to IPO. The Artisanal Spirits Company is the owner of The Scotch Malt Whisky Society (SMWS), the leading curator and provider of premium single cask Scotch malt whisky and other spirits, mainly selling online. The capital raised will be used to finance the growth of the business over the next 2-3 years, including investment in stock, supply chain efficiency; membership promotion and recruitment; selective investment in existing and new venues, and investment in brand and digital development. To apply for share visit primarybid.com 00:21 – Introduction 00:39 – Who we are 01:59 – The business model 03:27 – The history 04:30 – Performance 05:55 – The market 07:30 – The growth strategy 08:38 – The investment case The Artisanal Spirits Company plc is the owner of The Scotch Malt Whisky Society (SMWS), the leading curator and provider of premium single cask Scotch malt whisky and other spirits for sale primarily online to a discerning and passionate global membership. SMWS was founded in Edinburgh in 1983 by Philip "Pip" Hills as a way for its members to discover and celebrate single malt whisky straight from the cask. The single cask, single malt Scotch whiskies sold by SMWS fall exclusively within premium and above price bands, and are available exclusively to members of SMWS, with each release being limited in supply to the volume extracted from the source cask. In 2015, The Artisanal Spirits Company acquired SMWS from Glenmorangie (part of the LVMH group). Today, SMWS has a presence in over 30 international markets, including the US and China, and celebrates 28,000 members globally.

Trond Willikson, CEO and Septima Maguire, CFO present the H1 results, the strategy and the outlook. Trond Willikson, CEO 00:18 Introduction 00:59 H1 2021 Highlights Septima Maguire, CFO 08:17 Financial highlights Trond Willikson, CEO 14:40 FY21 Outlook Benchmark Holdings plc is engaged in the provision of aquaculture health, genetics and nutrition. The Company’s segments include genetics, advanced nutrition and health. The Company develops products that helps fish and shrimp to improve their sustainability and profitability by improving yield, quality, and by reducing mortality. The Company’s products include high genetic quality ova for salmon, shrimp and tilapia, and breeding, program, specialist feeds for early stage shrimp and fish; probiotics, biocides and medicines.

A results season overview by David Thornton, Editor of Growth Company Investor and ex Fund Manager. David has interviewed 129 companies so far in 2021. He is bullish about how companies are performing expecting many to upgrade as the year goes on. For investors, he suggests a value and recovery theme rather than growth stocks. He shares his insight on six companies that have stood out for him, interestingly four have been interviewed or presented on piworld, which we link to below. 00:43 What’s been the general theme of company results? 04:37 MISSION (TMG) 08:17 Tracsis (TRCS) 11:54 Quixant (QXT) 17:03 Belvoir (BLV) 21:08 The Property Franchise Group (TPFG) 21:59 Medica (MGP) 27:20 Somero (SOM) Links to results from companies featured by both piworld and mentioned by David: MISSION (TMG) Full Year 2020 results overview  https://youtu.be/Zmpxr1RPi0U Tracsis (TRCS) 2021  Interim results presentation: https://youtu.be/3nVTcPU36ZQ Interim results overview: https://youtu.be/aEQ_PTO1758 Quixant (QXT) Full year 2020 results overview  https://youtu.be/Xc9_YYaoyiQ The Property Franchise Group (TPFG)  Full year 2020 results presentation: https://youtu.be/WNorQSjObI8 Full year 2020 results overview: https://youtu.be/tZrV3xeyivE Somero (SOM) Full year 2020 results presentation https://youtu.be/STMuRAadx08 About David Thornton: Following an extensive career in the City David is Editor & Owner of Growth Company Investor (GCI), an excellent publication about Small Cap Shares. David, graduated 1982 and went into the City as a trainee UK equity investment analyst with an insurance company. 1985 started managing money at Br Gas pension fund. 1987-04 fund manager at Henderson. Spent 4 years doing US equities before returning to UK desk. 2006-12 launched and ran an East European fund at a hedge fund boutique (Russia, Turkey, Poland, Hungary, Greece etc). Doing these markets turned out to be good training for looking at the nether reaches of AIM which was his next job! 2013 onwards – financial journalism focused on UK small caps. Initially Redhot Penny Shares newsletter (part of MoneyWeek) and since 2015 Growth Company Investor (GCI). In September 2020 David acquired GCI from the original owners, Bonhill plc. www.growthcompany.co.uk Twitter: @growthcompany

Daemmon Reeve, CEO and Richard Hope, CFO outline H1 results where they have seen revenue up 13.5%, with gross profit margin up 880bps; very strong growth has been enjoyed from the ‘healthier living’ categories. Good trading momentum continues with encouraging order book levels and further growth opportunities. Profit before tax and exceptionals for the current year is expected to be at least £20m, exceeding the current consensus of £18m. Daemmon Reeve, CEO 00:16 – Introduction 01:26 – Growth Drivers 06:21 – ESG Richard Hope, CFO 08:00 – Financial Highlights Daemmon Reeve, CEO 14:38 – Case Study: Hard Seltzers 19:26 – Market Trends 21:48 – Partnership Model 23:10 – UK Site Relocation 26:24 – Current Trading & Outlook Daemmon Reeve, CEO Richard Hope, CFO 27:58 – Q&A Daemmon Reeve, CEO 56:01 – Closing Remarks Treatt PLC is a United Kingdom-based ingredients manufacturer and solutions provider to the flavor, fragrance and consumer goods markets. The Company’s geographical segments include United Kingdom, Rest of Europe, The Americas and Rest of the World. The Company’s products include Essential oils, Citrus, Treattarome, Functional ingredients, Chemicals, Organic essential oils, Vegetable oils and Treatt brew solutions. Its Essential oils include Amyris Oil, Angelica Oil and Aniseed Oil. Treattarome products include Pineapple Treattarome, Honey Treattarome and Cucumber Treattarome. Its Citrus products include citrus oils, CitrustT, TreattZest and Citrus add-back range. Its Functional ingredients include beverage specialties, fragrance ingredients and sugar reduction products. Its chemicals include aroma chemicals, natural chemicals and Treatt Flavour Wheel. Its Vegetable oils include Borage Oil and Baobab oil. Its organic essential oils include Organic Aniseed Oil and Organic Lime Oil.

Mark Briffa, CFO outlines AIR's FY21 results giving more colour across the different divisions, and updates on how the new financial year has started. 00:35 Overview of 2021 02:16 Current trading 04:06 The USA region 05:58 The outlook Air Partner PLC is a United Kingdom-based aviation services company. The Company provides worldwide solutions to industry, commerce, governments and private individuals. The Company has two divisions: Charter division comprising air charter broking and remarketing and the Air Partner Safety & Security division comprising the aviation safety consultancies, Baines Simmons, Clockwork Research and SafeSkys, as well as Air Partner's Emergency Planning Division. In addition, for reporting purpose, the Company is structured into four divisions: Commercial Jets, Private Jets, Freight (Charter) and Air Partner Safety & Security (Baines Simmons, Clockwork Research, SafeSkys and Air Partner's Emergency Planning Division).