PIWORLD Investor Podcasts

This video can be seen at: https://www.piworld.co.uk/2021/04/16/a-piworld-interview-rosemary-banyard-launching-a-fund-during-covid19/ Rosemary launched the VT Downing Unique Opportunities Fund on 23rd March 2020, just days from the nadir of the market crash. Here, she discusses launching a fund when there is 'blood on the streets'. She outlines some of her investing criteria including intrinsic valuation and Return on Equity, with a disregard to PEs. Where she finds ideas. Then, she goes on to discuss a few of the holdings. A very informative interview. 00:40 Rosemary’s background 02:36 What inspired the Downing VT Downing Unique Opportunities Fund? 04:47 How’s it performed in its first year? 05:53 How did it feel to launch a fund in the nadir of the market crash? 08:45 Retrospectively what would you have done differently? Have you sold anything? 12:00 Investment criteria. Intrinsic value, versus other metrics and qualitative factors. 18:50 Valuations and PE 22:23 Why would you sell? 25:23 What is the ideal number of holdings and percentage weighting? 29:10 Of your holdings do you think is the most undervalued: Elementis #ELM 32:40 Which of your holdings is the most risky? James Fisher #FSJ 35:10 Which of your holdings is a buy and forget? Impax Asset Management #IPX 36:17 Where do you get your ideas from? 39:57 Does liquidity limit positions you can get into? 42:40 Outlook for the market Rosemary Banyard began her career with James Capel & Co where she was a senior investment analyst for 12 years before becoming a fund manager at AIB Govett. She rose to prominence and developed a reputation as one of the leading female fund managers in the UK after she joined Schroders in 1997. For almost 20 years she was known for running the acclaimed Schroder UK Smaller Companies Fund with Andy Brough, and was for many years lead manager of the award-winning Schroder Mid Cap Fund PLC as well as heading up several other segregated UK equity mandates, managing total assets of c £1 billion. In 2016 she joined Sanford DeLand to launch and manage the Free Spirit Fund. The Schroder UK Mid Cap trust returned 17% pa while she was manger and in her two and a half years managing money at Sanford DeLand the Free Spirit Fund returned 31% placing it in the top decile of the IA UK All Companies sector. She joined Downing in March 2020 to launch the VT Downing Unique Opportunities Fund.      

This video can be seen at: https://www.piworld.co.uk/2021/04/14/quixant-qxt-full-year-2020-results-overview/ Jon Jayle, CEO & Andrew Jarvis, Interim CFO give an overview of Quixant’s Full Year 2020 results. On the gaming side, Q1 was strong but Q2 was marked by casino closures, this was followed by a very rapid  recovery in H2. Densitron traded resiliently with double digit growth in broadcast and medical. Looking forward, the Q1 group order intake has been strong with 106% order coverage of the Group budget for H1 2021. Jon Jayle, CEO 00:36 FY20 overview Andrew Jarvis, Interim CFO 02:00 FY20 financial summary Jon Jayle, CEO 03:47 The gaming market & how Quixant’s positioned 05:15 Densitron’s markets and how it’s positioned 05:46 Outllook Quixant Plc is a United Kingdom-based company engaged in development and supply of computer systems. The Company's range of gaming platforms includes personal computer (PC) compatible systems designed and catered to the gaming industry. The hardware integrates the features to drive pay to play machines in various gaming jurisdictions. Its software support Windows and Linux, including device drivers, gaming protocols, example code and even SAS support. The Quixant gaming platform range represents all-in-one logic box solutions for pay to play gaming machines. The Company's products include QMax-1: the ultimate 4K gaming platform; QX-50: high performance 4K ultra HD gaming platform; QX-40: high performance multi-screen gaming platform; QXi-4000: high performance four-screen gaming platform; QXi-307: compact high performance gaming platform; QXi-106 : COMMA 6a gaming platform; Ultra High Definition Monitors; Curved Screen Monitors, and Button Deck/Cut Glass Monitor.

This video can be seen at: https://www.piworld.co.uk/2021/04/14/the-mission-group-tmg-full-year-2020-results-overview/ James Clifton, CEO gives an overview of TMG’s full-year 2020 results for the period ended 31.12.20. Trading recovered in H2, reversing the H1 Covid-19 hit to deliver a headline PBT ahead of market expectations. Q1 2021 is in line with expectations with a growing pipeline of new business opportunities. James Clifton, CEO 00:20 – Overview 02:47 – Business highlights 05:50 – Group structure & performance 09:36 – MISSION Advantage 11:48 – ESG Manifesto 13:04 – Outlook The Mission Group Plc, formerly The Mission Marketing Group Plc, is a United Kingdom-based marketing communications and advertising company. The Company's portfolio comprises integrated, multi-discipline, multi-sector agencies, specialists in specific marketing/communications activities and specialists in particular market sectors. The Company's segments include Branding, Advertising and Digital; Media; Events and Learning, and Public Relations. The mission includes a network of entrepreneurial marketing communications agencies in the United Kingdom, Europe, Asia and the United States. Its subsidiaries include April Six Ltd, which is engaged in marketing communications and specializes in the technology sector; Big Dog Agency Ltd, which is engaged in Marketing communications, Speed Communications Agency Ltd, which is engaged in public relations, and Bray Leino Ltd, which is engaged in advertising, media buying, digital marketing, events and training, among others.

This video can be seen at: https://www.piworld.co.uk/2021/04/13/sumo-group-sumo-full-year-2020-results-presentation/   Carl Cavers, CEO & David Wilton, CFO outline Sumo Group's FY20 results, which were ahead of expectations. The headcount as at December 2020 was 1,043, up from 277 at December 2019! The acquisitions in the period include Lab42, Pipeworks; and PixelAnt post period end. Overall there's a very strong market backdrop, and a very positive outlook for FY21. SUMO are now working on more than 40 projects with 28 different clients, up from 21 projects with 12 different clients at April 2020.   Sumo Group plc is a United Kingdom-based company that provides development services to the video games and entertainment industries. The Company's operating businesses include Sumo Digital Ltd. (Sumo Digital) and Atomhawk Design Ltd (Atomhawk). Sumo Digital is a developer of AAA-rated video games, providing both turnkey and co-development solutions to blue-chip client base. Atomhawk is a visual design company that provides services to the games, film and visual effects industries. Together, the Company delivers visual and development solutions, which include initial concepts and pre-production, production and development, and post-release support. The Company through its Lab42 Limited (Lab42), which is a cross-platform work for hire studio, provides co-development and full game development services.  

This video can be seen at: https://www.piworld.co.uk/2021/04/12/ra-international-rai-fy20-results-presentation-given-30th-march-2021/   RA International #RAI FY20 presentation given by Soraya Narfeldt, CEO, Lars Narfeldt, COO and Andrew Bolter, CFO. Growth in IFM & Supply Chain Services revenue was offset by deferral of construction revenue to next period. They now have a record order book approaching $200m. They are winning larger contracts with higher margin IFM work, and have increase in dividend. Obviously, their hearts and attention is with those affected by the events in Mozambique. Soraya Narfeldt, CEO 00:16 – Introduction 00:59 – Overview Lars Narfeldt, COO 02:04 – Mozambique Update Andrew Bolter, CFO 03:09 – Financial highlights Soraya Narfeldt, CEO 06:56 – Contract book 08:13 – Strategic Overview Lars Narfeldt, COO 12:32 – ESG Andrew Bolter, CFO 14:44 – Business transformation 16:57 – Outlook Soraya Narfeldt, CEO 18:27 – Summary Andrew Bolter, CFO, Lars Narfeldt, COO, Soraya Narfeldt, CEO 19:38 – Q&A Soraya Narfeldt, CEO 35:00 – Closing remarks RA International Group PLC is a United Kingdom-based remote site service provider. The Company offers integrated camp services, from the construction of camp facilities to full life support services- including camp catering and camp maintenance services foe clientele operating in remote and challenging environments. It focuses on providing remote site solutions for those involved in humanitarian operations, and the oil and gas and mining industries. The Company’s service offerings include construction, operation and maintenance, integrated facilities management, supply chain, and accommodation. It provides its services to mining, oil and gas, and humanitarian.  

This video can be seen at: https://www.piworld.co.uk/2021/04/09/stockopedia-piworld-virtual-stockslam-april-2021-hosted-by-damian-cannon/ The second virtual StockSlam hosted by Damian Cannon. Over 1,600 investors joined the event live to hear ten investors present their best stock idea in just three minutes. Bite-sized nuggets to inspire further research. Fast, factual and fun. 00:18 Introduction by Damian Cannon 02:45 Micro Focus International (MCRO) - Damian Cannon 09:53 Tharisa (THS) - Keelan Cooper 17:10 John Menzies (MNZS) - Richard Crow aka Cockney Rebel 24:58 finnCap (FCAP) - Mark Simpson 32:08 Ashtead (AHT) - Lilian Nandi 39:14 Tekcapital (TEK) - Alex Schlich 45:30 Circassia (CIR) - David Thornton 52:00 Jubilee Metals (JLP) - Edmund Shing 59:26 Beximco Pharmaceuticals (BXP) - James Nelson 1:05:33 Tandem Group (TND) - Jack Brumby The next StockSlam is Wednesday 19th May, 6pm. Details to register will be found in due course on our events page. If you would like to 'Slam a Stock' contact us here.  

This video can be seen at: https://www.piworld.co.uk/2021/04/08/tracsis-trcs-interim-results-overview/ Tracsis's Chris Barnes, CEO and Andrew Kelly, CFO give an overview of interim results for the period ended 31st January 2021 and the strategy going forwards. Chris Barnes, CEO 00:31 – Overview Andrew Kelly, CFO 01:47 – Financial highlights Chris Barnes, CEO 03:39 – Market position Andrew Kelly, CFO 06:43 – Trading update Chris Barnes, CEO 09:19 – Growth Strategy 11:57 – Outlook Tracsis plc is a holding company. The Company is engaged in the business of software development and consultancy for the rail industry. Its segments include Rail Technology and Services, and Traffic & Data Services. The Rail Technology and Services segment includes its Software, Consultancy and Remote Condition Monitoring Technology, and also includes Ontrac Limited and Ontrac Technology Limited (together being Ontrac). The Traffic & Data Services segment includes data capture, analysis and interpretation of traffic and pedestrian data to aid with the planning, investment and ultimate operations of a transport environment and it also includes SEP Limited (SEP). It provides software products, consultancy services and delivers customized projects to solve a range of problems within the transport and traffic sector. It specializes in solving a range of data capture, reporting and resource optimization problems along with the provision of a range of associated professional services.

This video can be seen at: https://www.piworld.co.uk/2021/04/06/personal-group-pgh-full-year-2020-results-presentation/ Personal Group Holdings' (PGH) CEO Deborah Frost and CFO Sarah Mace present FY20 results for the year ending 31st December 2020. Deborah Frost, CEO 00:17 – Introduction 01:19 – Overview Sarah Mace, CFO 05:54 – Financial overview 15:19 – Outlook Deborah Frost, CEO 16:09 – Strategic and operational review Deborah Frost, CEO Sarah Mace, CFO 34:55 – Q&A Deborah Frost, CEO 48:58 – Closing remarks Personal Group Holdings PLC (PGH) is a United Kingdom-based company engaged in transacting employee benefits related business, including short-term accident and health insurance and the provision of salary sacrifice technology products in the United Kingdom. The Company's segments include Core Insurance, IT Salary Sacrifice, Mobile and Other. The Core Insurance segment is engaged in the underwriting by Personal Assurance Plc (PA) of insurance policies that are bought by employees of host companies through bespoke benefit programs. The IT salary sacrifice segment refers to the trade of Lets Connect, a salary sacrifice technology. Mobile segment refers to the trade of PG Mobile Limited, a mobile phone salary sacrifice company set up from the trade and assets of shebang Technologies. The Other segment consists of Berkeley Morgan Group (BMG) and its subsidiary undertakings and Personal Management Solutions (PMS).

This video can be seen at: https://www.piworld.co.uk/2021/03/29/tribal-group-trb-full-year-2020-results-analyst-presentation/   TRB management team Mark Pickett, CEO & Paul Simpson, CFO present FY20 results to analysts. 2020 was a year of evolution and operational progress. 2021 has started with increased revenue visibility, a strengthened position in South East Asia, and a considerably expanded addressable market through the launch of Tribal Cloud and the imminent launch of Tribal Edge Admissions. To date, the group is trading in line with expectations and is confident to execute against their strategic roadmap. Mark Pickett, CEO 00:19 – Overview of 2020 Paul Simpson, CFO 07:22 – Financial highlights Mark Pickett, CEO 16:04 – Challenges & Opportunities 20:27 – Strategy 28:05 – ESG 29:13 – Summary & Outlook Tribal Group plc is a United Kingdom-based company, which provides software and services for education management. The Company's segments include Product Development and Customer Services (PD&CS), Implementation Services (IS), Professional and Business Solutions (PBS) and Quality Assurance Solutions (QAS). The PD&CS segment represents the delivery of software and subsequent maintenance and support services. The IS segment represents the activities through which it deploys and configures software for its customers. The PBS segment represents a portfolio of performance improvement tools and services, including analytics, benchmarking and transformation services, and the QAS segment represents inspection and review services, which support the assessment of educational delivery. Its products and services include license and development, implementation, maintenance, professional and business solutions, quality assurance solutions and other systems related.

This video can be seen at: https://www.piworld.co.uk/2021/03/29/the-pebble-group-pebb-fy20-results-presentation/   Chris Lee, CEO & Claire Thomson, CFO present PEBB full year 2020 results followed by Q&A. Brand Addition was obviously hit by CV19 on the Corporate side although the Consumer Promotions side was robust. Total invoiced year to date, +10% v 2020. Facilisgroup continues with management's internal aspiration to achieve recurring revenues in excess of $50m by 2024. Listen to the full presentation here. Chris Lee, CEO 00:17 – Introduction 01:19 – Overview Claire Thomson, CFO 04:46 – Financial highlights Chris Lee, CEO 13:40 – Facilis business model 16:42 – KPI’s 21:11 – New software assets 26:48 – Brand addition business model Claire Thomson, CFO 28:52 – Revenue breakdown Chris Lee, CEO 34:22 – ESG 36:39 – Outlook Chris Lee, CEO & Claire Thomson, CFO 38:00 – Q&A Chris Lee, CEO 41:55 – Closing remarks The Pebble Group PLC is a United Kingdom-based company that provides products, services and technology to the global promotional products industry. The Company operates through two businesses: Brand Addition and Facilisgroup. Brand Addition is its promotional product merchandise business that provides promotional products to global brands. Brand Addition, through its network, sources and provides promotional product solutions to clients, who operate in sectors which include health and beauty, fast moving consumer goods, transport, technology, banking and finance and charity. Facilisgroup is the Company’s software as a service (SaaS) business that provides subscription-based services to small and medium enterprise (SME) promotional product distributors in the United States and Canada. Facilisgroup’s suite of services includes business intelligence software and community events.