PIWORLD Investor Podcasts

This video can be seen at: https://www.piworld.co.uk/2019/08/07/ultra-electronics-ule-interim-results-august-2019-analyst-presentation/   By Simon Pryce, CEO & Amitabh Sharma, Group FD. Simon Pryce, CEO Results overview – 00:18 Changing strategy – 03:26 Fix: Progress – 06:50 Grow: Tech strength delivering on new programmes – 09:59 Ami Sharma, Group FD Financial highlights – 13:29 Revenue & profit bridges – 15:21 Divisional performances – 16:50 Average working capital turn – 20:14 Long term contract receivables – 21:01 Investment update – 22;13 2019 technical guidance – 23:18 Simon Pryce, CEO Summary & H2 – 24:53 Q&A – 28:40 c. 50 minutes Ultra Electronics Holdings plc provides solutions and products in the defence and aerospace, security and cyber, transport and energy markets, by applying electronic and software technologies. The Company operates in three segments: Aerospace & Infrastructure, Communications & Security, and Maritime & Land. Its market facing segments are Aerospace, Infrastructure, Nuclear, Communications, C2ISR, Maritime, Land and Underwater Warfare. The Aerospace & Infrastructure division produces high-integrity, safety critical electronic control systems for aircraft applications, including position sensing and control; airframe and engine ice protection and detection; electronic architectures; weapon control, and noise cancellation systems. The Communications & Security division provides mission critical, information dominance solutions. The Maritime & Land division provides sensors, combat management systems, power solutions for surface, sub-surface and unmanned platforms.

This video can be seen at: https://www.piworld.co.uk/2019/07/31/whireland-whi-full-year-results-july-2019/   WHIreland CEO Phillip Wale presents the Group’s full year results to 31st May 2019. Introduction – 00:21 Restoring profitability – 02:16 A robust business – 02:57 The new management team – 03:25 Wealth management – 04:35 Corporate & institutional broking – 05:05 Summary & outlook – 05:33 WH Ireland Group plc is a holding company. The Company’s principal activities are the provision of wealth management and corporate finance advice, research, products and services to the private clients, and small and medium sized companies. It operates through two segments, which include Private Wealth Management and Corporate Broking. The Private Wealth Management segment offers investment management advice and services to individuals and contains its wealth planning business, giving advice on and acting as intermediary for a range of financial products. The Corporate Broking segment provides corporate finance and corporate broking advice and services to the companies, and acts as nominated advisor to clients listed on the Alternative Investment Market (AIM). The Corporate Broking segment contains its institutional sales and research business, which carries out stockbroking activities on behalf of companies, as well as conducting research into markets of interest to its clients.

This video can be seen at: https://www.piworld.co.uk/2019/07/30/nwf-group-nwf-full-year-results-july-2019/   NWF CEO Richard Whiting and Group FD Chris Belsham, present the Group’s full year results to 31st May 2019. Richard Whiting, CEO Introduction – 00:18 Results summary – 00:28 Fuels highlights – 01:22 Food highlights – 02:19 Feeds highlights – 02:50 Chris Belsham, Group FD Financial highlights – 03:43 Income statement – 03:48 Balance Sheet – 05:16 Pension – 05:40 Net debt – 06:09 Richard Whiting, CEO Development strategy – 06:55 Fuels strategy – 07:41 Summary & outlook – 09:51 NWF Group plc is engaged in the manufacture and sale of animal feeds, the sale and distribution of fuel oils, and the warehousing and distribution of ambient groceries. The Company operates through three segments: Feeds, Food and Fuels. The Feeds segment is engaged in the manufacture and sale of animal feeds and other agricultural products. The Food segment is engaged in warehousing and distribution of clients’ ambient grocery and other products to supermarket and other retail distribution centers. The Fuels segment is engaged in the sale and distribution of domestic heating, industrial and road fuels. The Company’s subsidiary, Boughey Distribution Limited, is engaged in warehousing and food distribution. Its subsidiaries, NWF Agriculture Limited, S.C. Feeds Limited, New Breed (UK) Limited and Jim Peet (Agriculture) Limited, are engaged in animal feedstuffs and seeds supply. Its subsidiaries, NWF Fuels Limited and Staffordshire Fuels Limited, are engaged in fuel distribution.

This video can be seen at: https://www.piworld.co.uk/2019/07/22/sthree-sthr-h1-results-presentation-22nd-july-2019/   CEO Mark Dorman and CFO Alex Smith present the company’s half year results for the six months ending 31st May 2019. Mark Dorman, CEO Introduction – 00:18 Alex Smith, CFO Performance – 01:04 Mark Dorman, CEO Strategy & business overview – 12:42 Q&A – 22:57 SThree plc is an international staffing company, which provides specialist recruitment services in the science, technology, engineering and mathematics (STEM) industries. The Company provides permanent and contract staff to sectors, including information and communication technology (ICT), banking and finance, life sciences, engineering and energy. The Company’s segments include the United Kingdom & Ireland (UK&I), Continental Europe, the USA, and Asia Pacific & Middle East (APAC & ME). The Company’s recruitment brands include Computer Futures, Progressive Recruitment, Huxley and Real Staffing. The Company’s other brands include Global Enterprise Partners, Hyden, JP Gray, Madison Black, Newington International and Orgtel. The Company delivers contract, permanent, projects, retained and executive search recruitment solutions. Its support and mobility services offer contracting, relocation and relevant visa support. It provides resources to support its brands with contractor services.

This video can be seen at: https://www.piworld.co.uk/2019/07/19/rosenblatt-group-rbgp-presentation-at-mello-may-2019/   By Nicky Foulston, CEO Introduction & Nicky’s background – 00:18 Summary – 04:34 Growth strategy – 07:41 Financial highlights – 10:34 Legal services market – 14:36 Peer group metrics – 15:53 Remuneration – 17:10 Litigation funding – 22:03 Dividends & M&A – 28:16 Outlook – 28:45 Q&A – 29:33 Rosenblatt Group PLC is a United Kingdom-based company that provides a range of legal services to the businesses. The Company’s services include banking and finance, construction and projects, corporate, dispute resolution, employment services, financial services, insolvent person (IP)/ technology/media, real estate, regulatory and funds, and tax services. It offers advisory services on the tax implications of company acquisitions and sales, restructurings and reorganizations, joint ventures and capital-raising activities. It offers dispute resolution services, such as fraud, professional negligence, defamation, corporate insolvency/shareholder disputes, intellectual estate, media and banking (including claims related to mis-selling and interest rate swaps). It serves banks, brokers, institutional investors, sovereign and private equity funds, payment service providers, e-money institutions and e-commerce companies.

This video can be seen at: https://www.piworld.co.uk/2019/07/17/downing-income-growth-presentation-at-mello-may-2019/   Downing: Income and Growth By James Lynch, Fund Manager, Downing & Ian Fishwick, Chairman, AdEPT Technology James Lynch, Fund Manager, Downing Introduction – 00:28  Market opportunities: small cap v large cap – 01:23 DiscoverIE – 03:05 AdEPT Technology – 07:34 Ian Fishwick, Chairman, ADT ADT Key Fundamentals – 08:28  ADT Strategy – 10:18  ADT Sectors – 13:10  ADT KPIs – 14:56  ADT Acquisitions – 18:44 James Lynch, Fund Manager, Downing AdEPT mispriced – 19:44  Ramsdens – 21:03 Ian Fishwick, Chairman, ADT M&A v organic growth – 27:57 Share buybacks – 32:36 Q&A – 34:25   James Lynch: James joined Downing in February 2012 as part of the Private Equity team, gaining transaction experience in the SME space across a range of industries before transferring to Downing Public Equity in 2013. Prior to Downing, James worked within the asset management division of Ernst & Young after specialising in smaller companies at HW Fisher & Company. James is a CFA Charterholder, Chartered Accountant (ACA) and holds the Investment Management Certificate. James manages the MI Downing Monthly Income Fund and co-manages the Downing Strategic Micro-Cap Investment Trust. AdEPT Technology Group plc, formerly AdEPT Telecom plc, is engaged in providing managed services for information technology (IT), unified communications, connectivity and voice to over 100 Councils, NHS Trusts and other government bodies. The Company’s segments are fixed line services (being calls and line rental services) and managed services (which are data connectivity, hardware services, IP telephony, support and maintenance services). It is engaged in the provision of voice and data communication services to both domestic and business customers. The Company offers technical and commercial options for onsite and cloud-based telephony. The Company serves approximately 20,000 commercial customers including worldwide and nationwide  

This video can be seen at: https://www.piworld.co.uk/2019/07/10/codemasters-cdm-fy19-results-presentation/   By Frank Sagnier, CEO & Rashid Varachia, CFO   Codemasters Group Holdings PLC, formerly Codemasters Group Holdings Limited, is a United Kingdom-based video game developer and publisher. Through its subsidiary, The Codemasters Software Company Limited, the Company designs, develops and produces driving and racing games. The Company’s driving and racing games include DiRT, GRID, Micro Machines, ONRUSH and Formula 1 series of videogames. It produces Formula One’s range of games for the Playstation 4 console.

This video can be seen at: https://www.piworld.co.uk/2019/07/09/castleton-technology-ctp-fy19-results-investor-presentation/   A comprehensive overview of FY19 results. *To get an introduction to CTP see links below. Dean Dickinson CEO Overview of FY19 results – 00:18 Castleton Community Solution for smaller HAs – 03:14 CTP solution set – 04:13 The market opportunity – 07:29 Case study – 08:45 Haywood Chapman CFO Financial highlights – 11:17 Contracted backlog & recurring revenue – 13:00 Traction on cross sell – 14:16 Income statement – 15:33 Cash Flow – 18:54 FY19 highlights – 20:00 Dean Dickinson CEO Growth strategy – 20:38 M&A – 22:25 Our people – 23:50 Product roadmap & priorities – 25:10 Summary – 27:05 Q&A – 28:20 *Investor presentation from 2017: https://www.piworld.co.uk/2018/03/09/castleton-technology-ctp-investor-presentation-november-2017/ *An in depth overview of their offering, and hear a client talk about their product, see the Capital Markets Day 2018 here: https://www.piworld.co.uk/2018/07/13/castleton-technology-ctp-capital-markets-day-2018/ Castleton Technology plc, formerly Redstone PLC, is an investment holding company. The Company is engaged in providing software and managed services to the public and not-for-profit sectors, mainly the social housing sector. Its segments include Managed Services, which consists of Castleton Managed Services Limited and Keylogic Limited, and Software Solutions, which consists of the results of Castleton Software Solutions Limited, Kypera Limited and Kypera Pty. It offers KYPERA FINANCIALS, a finance solution, which uses a single ledger format; EDRM, which is an electronic document and records management system that allows organization to manage its documents and supporting information; P2P, which manages repairs and non-repairs processes and integrates finance and repairs system; AGILE, OPUS SERVICE CHARGES and MANAGED SERVICES. Its subsidiaries include Castleton Technology Intermediate Holding Company Limited, Castleton Group Holdings Limited and Castleton Information Group Limited.

This video can be seen at: https://www.piworld.co.uk/2019/07/05/keith-ashworth-lord-the-uk-buffettology-fund-interview-part-two/   Keith Ashworth-Lord CIO, Sanford DeLand UK Buffettology Fund Another inspiring 30 mins from Keith talking us through valuations, self-discipline, learned lessons, Woodford, and much more. Valuation of good companies – 00:20  AB Dynamics – 02:08  Sell discipline – 04:45  Lessons learned from past mistakes – 06:04  Lessons learned from Woodford? – 10:08  Do you have to go to the small/mid cap market for good growth? – 14:13  How has regulation changed fund management? – 17:45  Liquidity – 18:55  Buffettology licence continuity? – 19:40  What part does luck play in investing? – 22:20  Lack of mentors – 23:11  The macro picture – 25:05  How do you feel about valuations now? – 27:57

This video can be seen here: https://www.piworld.co.uk/2019/07/02/zoo-digital-group-zoo-fy19-results-presentation/   By Stuart Green, CEO & Philip Blundell, CFO Stuart Green, CEO Introduction – 00:19 ZOO at a glance – 01:20 Highlights – 02:18 Vendor selection by large buyers – 05:00 The OTT market today – 09:08 2019-20: Transition of OTT Services – 10:55 Hours of content by platform (US) – 12:49 Strategic Pillars & Progress 1. Innovate: 15:06 2. Scale – 20:11 3. Collaboration – 22:41 4. Growth strategy & Progress – 26:02 Philip Blundell, CFO Financial overview: P&L – 27:01 Balance Sheet – 30:14 Segmental analysis – 32:24 KPI’s – 33:55 Stuart Green, CEO Investment Summary – 35:42 Outlook – 37:32 Q&A – 39:44