Menu
You are not logged in and only seeing 7 days of articles. Please sign up or login to view more
UKHotViews
Monday 26 October 2020

Oracle expands UK private cloud footprint

Oracle expands UK private cloud footprintOracle’s latest dual-region government cloud offers private cloud facilities exclusively for UK government customers while significantly expanding its hosting capacity in the country. It enables public sector organisations to spread cloud services across multiple UK locations to enhance disaster recovery polices and meet data sovereignty rules set by the National Cyber Security Centre (NCSC). Another facility for private sector customers is also planned for Newport in Wales.

The move to pull in more public sector customers builds on the UK government cloud region already used for several years by government bodies including the Home Office, NHS Business Services Authority, Lambeth Borough Council and Croydon Council. Some organisations certainly continue to see dedicated and local private clouds as the best way to address concerns over the security of sensitive data and applications which might otherwise be stored in public cloud environments as they forge ahead with on- to off-premise workload migration strategies.

We think secure private cloud provision could therefore be Oracle’s best chance of competing with larger super scale cloud rivals, including Amazon Web Services (AWS), Microsoft and Google, and help grow Oracle's much smaller infrastructure as a service (IaaS) revenue which flatlined in the first quarter.

The new UK regions are just two of 20 earmarked to become operational in coming months, starting with Switzerland in September and Dubai earlier this month. More are planned for Brazil, Saudi Arabia, Italy, Sweden, France, Chile, Singapore, South Africa and Israel – Oracle plans to have a total of 36 cloud regions in operation by July 2021, two for almost every country where it operates. The majority will be open to commercial contracts but some will be reserved exclusively for regional government and US military intelligence workloads.

While the region numbers still lag behind the likes of its super scale rivals they significantly increase Oracle’s own private cloud hosting capacity – headroom which the company will need if it is to successfully manage increasing demand for cloud infrastructure and services amongst UK organisations like Ocado (see our UK Infrastructure Operations Market Trends and Forecasts report here).

Posted by: Martin Courtney

Tags: iaas   privatecloud   DisasterRecovery   datasovereignty  

Twitter   Facebook   LinkedIn   Email article link
Monday 26 October 2020

Notes of concern in SAP Q3

SAP logoWith an official publication date of Sunday 25 October, SAP quietly released Q320 results around 12 hours earlier than expected. There were some notes of concern as performance reflected deeper than expected C-19 impact and slower recovery. SAP had previously assumed demand would recover during Q3 and Q4 but it hasn’t risen to the levels expected and given rising infections and new lockdowns, the company is now anticipating muted market recovery through H1 2021.

Accordingly, it has reduced FY20 outlook, slimming down revenue and operating profit. It has also reviewed its 2023 ambition and pushed revised goals out to 2025. Tellingly, SAP believes C-19 will delay the achievement of non-IFRS cloud revenue, total revenue and operating profit, by 1 to 2 years but it does still see cloud acceleration and is looking for cloud revenue of €22bn by 2025 on revenue of €36bn.

Given the circumstances, Q3 (to 30 September 2020) was probably as good as could be expected but revenue was down 4% to €6.5bn and operating profit dropped 12% to €1.5bn. 11% growth in cloud revenue to €1.98bn was not spectacular (low transactions from travel-related Concur were partly to blame) and at the same time licence revenue fell 23% to €0.71bn. 

SAP is attracting customers - 45% of the 500 Q3 S/4HANA sign ups were net new - but overall SAP is in the grip of a customer spending freeze. And implementations are dragging – just 8,100 of c.15,100 S/4HANA customers have live implementation. SAP’s challenge is still persuading customers to upgrade and provide sufficient proof points of the business value. Add the effect of C-19 and it has a lot of work ahead. However, it does have a large customer base to appeal to and with the forthcoming Qualtrics IPO and recent CX Emarsys acquisition it is making operational changes to adapt its offerings, something we expect hear more about over the coming months. 

Posted by: Angela Eager

Tags: results   cloud   software  

Twitter   Facebook   LinkedIn   Email article link
Monday 26 October 2020

‘Not Quite Departed’ Hexaware expecting ‘sustained growth’

logoIt seems that Baring Private Equity Asia’s buyout of BSE-listed, Mumbai-based mid-tier offshore services firm Hexaware last month (see Hexaware to join (Indian) ‘Dearly Departed’) left some residual public market investors (just under 8% of the stock) which is I suppose why they are still publishing full financial results.

Like peers LTI, Mindtree, Mphasis and Coforge, Hexaware reversed the prior quarter’s revenue decline (see Revenue decline slows at Hexaware) with headline revenues for FQ3 (to 30th September – one of the very few on a calendar FY) increasing by 1.7% yoy to $214.1m, nearly 3% higher than in FQ2. Operating margins also tweaked up a bit qoq to 13.9% - flat yoy.

Management is even more optimistic than last quarter, now expecting “to hit a sustained phase of high growth.” However, I don’t think this means they expect the company to end the year anywhere near the 15-17% revenue growth they had hoped for at the beginning of 2020.

Posted by: Anthony Miller

Tags: offshore  

Twitter   Facebook   LinkedIn   Email article link
Monday 26 October 2020

Backers passionate about HeySummit’s passion economy events

logoBackers are clearly spreading their bets on ‘virtual’ event management start-ups given the plethora of investments in recent months (eg see Backers keep the faith in event management start-up Iventis and Backers pop in lots more dosh to ‘virtual event’ platform Hopin).

And here’s another one, Edinburgh-based HeySummit, which recently closed a $1m seed funding round led by Techstart Ventures with the participation of Active Capital and Ankur Nagpal (CEO and founder of Teachable).

Founded in 2018, HeySummit’s USP is its focus on what it describes as the ‘passion economy’ (no, not that one; they mean artists, yoga teachers et al).

HeySummit charges from $33 per month (I didn’t know Scotland had adopted the dollar) for 1 active ‘summit’ with up to 2k attendees, rising to $333 p.m. for 10 active ‘summits’ with up to 20k attendees. Custom plans start at $1,000 p.m. HeySummit also charges transaction fees of up to 5% which I assume applies to bookings paid for through the platform.

In my opinion, this all sounds a bit pricy for ‘passion economists’ but I suppose it all comes down to how great your passion really is.

Posted by: Anthony Miller

Tags: funding   startup  

Twitter   Facebook   LinkedIn   Email article link
Monday 26 October 2020

Big week for Big Tech

FANMAGBig Tech’s quarterly results are usually spread out over a month. However, this time it is all in one week – indeed mostly on one day.

Microsoft is due tomorrow/Tuesday with Amazon, Apple, Alphabet/Google and Facebook on Thursday with Twitter and Spotify reporting then too.

NASDAQ is up 28% YTD with Amazon at the top of the leader-board with a 73% gain YTD. However, NASDAQ was off nearly 3% last week. Both Google and Facebook are heavily dependent on advertising revenues. How much has C-19 affected marketing budgets? This week we will find out. How much has that delay in the launch of the iPhone12 affected Apple’s Q4 sales?

One thing seems certain. Amazon continues to be the main beneficiary from the C-19 rush to online sales. With lockdowns back again, this can only be good news for Amazon. The competition between AWS and Microsoft’s Azure will also be closely watched.

Unexpectedly bad results for a few of the Big Tech leaders could really cause mayhem in the markets – rippling far beyond these Big Tech companies.

Looks like a busy week ahead!

Posted by: Richard Holway

Twitter   Facebook   LinkedIn   Email article link
Monday 26 October 2020

ULS gets new CEO

ULSULS Technology, the AIM listed provider of online B2B platforms for the UK conveyancing and financial intermediary markets, confirmed this morning that it will be moving forward under a new CEO, Jesper With-Fogstrup who will take up the reins in early 2021.

Jesper With FogstrupULS remains a business very much in transition and saw revenue decline last year to £28.3m (FY 2019: £30m) with Brexit, a General Election and global pandemic all supressing transactions and dampening confidence in the businesses core markets.

Strategically, the company has been focusing on boosting the number of advisors using its conveyancing comparison platforms as well as investing in its product suite. At the beginning of the year it launched DigitalMove – a product designed to help drag the conveyancing process into the digital age via the use of a secure portal for all consumer and solicitor communication.

With-Fogstrup has clearly been hired for his 20+ years digital experience with the likes of HSBC where he was Global Head of Digital as a Channel and ComparetheMarket.com where he was COO.

ULS is heading in the right direction with its DigitalMove offer which could help shake up the conveyancing sector, long overdue some proper digital transformation. However, the fate of the company will be intertwined with the performance of the UK housing market – and how that plays out is anyone’s guess given recent rises in house prices at a time of global pandemic and rising unemployment.

Posted by: Marc Hardwick

Tags: appointment   PropTech  

Twitter   Facebook   LinkedIn   Email article link
Monday 26 October 2020

*NEW RESEARCH* UK Defence Supplier & Market Analysis

UK Defence imagePublished today, TechMarketView’s UK Defence Software & IT Services: Suppliers, Trends & Forecasts 2020-2023 report is the third of six deep-dive reports providing TechMarketView’s UK public sector SITS subsector analysis from a market and supplier perspective.

The report accompanies the UK Public Sector Software & IT Services: Suppliers, Trends & Forecasts 2020-2023 report, providing a sector overview, which is also published today – see here. Over the next few weeks, it will be followed by a range of reports covering the local government, health, education, police, and defence markets.

Within UK Defence Software & IT Services: Suppliers, Trends & Forecasts 2020-2023, you will find TechMarketView’s Top 10 defence SITS rankings for 2019, revealing that seven of the leading suppliers grew their defence revenues in their last financial years.  In addition, we uncover our view of those suppliers that are ‘on the rise’ and, therefore, threatening to unseat the leading players, and include a handpicked selection of suppliers that are worth keeping a close eye on, due to their renewed interest in the sector, recent successes, or differentiated approach.

After a strong 2018, there was a different, more depressed picture in 2019. However, our analysis reveals drivers within the Ministry of Defence that will have a positive impact on the market over the rest of our forecast period.

Using our proprietary Digital Evolution Model (DEM), we also provide a view of the market by the ‘New’ - digital, platform and cyber security-led offering, and ‘Heritage’ - offerings focused on traditional systems and processes.

PublicSectorViews’ subscribers can download the research today. If you are not yet a subscriber, or are unsure if your company has a subscription, please contact Deb Seth to find out how you can access the research.

Posted by: Georgina O'Toole

Tags: publicsector   markettrends   defence   suppliers   MarketForecasts   competitoranalysis  

Twitter   Facebook   LinkedIn   Email article link
Monday 26 October 2020

Backers bid up funding for PrimaryBid

logoI was slightly bemused about London-based retail discount share trading platform PrimaryBid’s funding round last September (see Backers share funding in share sale platform PrimaryBid) as they seemed to have only done 48 deals since reaching ‘beta’ in 2015.

Well, they have found their mojo, almost doubling that number to 90 issuances, and have just announced a $50m Series B funding round led by prolific pan-European tech investor Draper Esprit. OMERS and London Stock Exchange Group co-led the round, alongside Fidelity, and existing investors Pentech and Outward VC among others.

Basically, PrimaryBid enables retail investors to participate in new equity issuances such as Compass Group, Ocado, Taylor Wimpey and William Hill, on the same terms as institutional investors with no commission charges or stamp duty.

Sounds like a good deal all round.

Posted by: Anthony Miller

Tags: funding   startup  

Twitter   Facebook   LinkedIn   Email article link
Monday 26 October 2020

Support your business planning with a virtual TMV engagement

TMV logoAre you interested in digging deeper into our UK SITS Market Trends & Forecasts 2020-2023 and UK SITS Supplier Rankings 2020 research? Well now you can. TechMarketView is offering a virtual engagement to explore the meaning behind the written word of our two flagship reports. We have designed a session to enable you to get the most out of our latest analysis and support your business planning activities.

Report coversIn such an extraordinary year, defined by the COVID-19 pandemic and the associated global lockdowns, TechMarketView’s expert analyst team has had to consider the extreme uncertainty that remains for us all and we have created forecasts for the next four years based on two market scenarios. The scenarios will determine how quickly confidence will return. But regardless of the pandemic’s progression and the resultant impact on the UK economy, change is coming. In fact, it’s already here.

Strategic planning in the current environment is filled with unknowns. There’s a strong desire to leverage past investments while accelerating change. Suppliers must recognise the fundamental shift in their clients’ attitudes, and help them ‘reset and reimagine’, ensuring that technology remains at the heart of the agenda.

TechMarketView is on hand to help you with these challenges and a virtual engagement or webinar with one of our expert analysts is a great way to kick off your business planning process. 

Contact info@techmarketview.com to book your session. Exclusively for subscription clients and priced at £2,950 +VAT.

Posted by: HotViews Editor

Tags: webinar  

Twitter   Facebook   LinkedIn   Email article link
Friday 23 October 2020

Palantir secures £20m deal to help monitor the UK border

Palantir logoThe Government has published details of the Cabinet Office's contract with Palantir for the provision of Border and Customs Management Services. The call-off contract, awarded via G-Cloud, has a value of up to £20.1m over a three-year period and was scheduled to commence on 31 August 2020.

The contract includes the provision of a Technical Feasibility Evaluation (TFE) of Palantir's Faculty platform. This will be provided for free for participating departments, including the Home Office, HMRC, Defra, Department for Transport, Driver and Vehicle Standards Agency, Highways England and Port Health Authorities. Initially it will be the Home Office and HMRC that participate in this TFE. Assuming this phase is completed satisfactorily, the departments will move on to the paid-for Phase 2 activity.

Year one of Phase 2 includes the cost of the licence and implementation of Palantir Foundry as well as the initialisation of the platform as part of the Home Office's Border Flow Service. It is followed by two optional extension years covering ongoing licence fees. The contract in year one, which runs until 30 August 2021, is valued at £7.85m and each year of the extension period is valued at £6.125m.

According to the contract, the Border Flow Service includes a suite of tools for the visualisations of data and analysis, and creation of action-recommendation workflows based on a data asset of close-to-real time data related to the volume of consignments crossing the UK border. The data from the service will come from source systems in the Home Office, HMRC and other participating departments, and will be combined with data about traffic volumes. It is intended to provide key indicators on the flow and throughput of goods at and around the border to support wider government understanding of flow at the border.

The Service will sit alongside a suite of other products owned by the Border Protocol and Delivery Group. This unit, which was formerly known as the Border Delivery Group, is overseeing the Government’s plans for the UK border after the Brexit transition period. In June, responsibility for the unit was transferred from HMRC to the Cabinet Office.

The big data and analytics business has two principal software platforms: Palantir Gotham and Palantir Foundry (see Confidential IPO in progress for Palantir). Shares in the business began trading on the New York Stock Exchange in September (see Palantir files for IPO). It has worked in the UK defence and intelligence sector for a number of years and has built analytical dashboards as part of NHS England's response to COVID-19. Due to the nature of its work, controversy has followed Palantir since it was founded and many will be paying close attention to how the Government uses its technology to monitor the UK border.

Posted by: Dale Peters

Tags: contract   analytics   government   g-cloud   data  

Twitter   Facebook   LinkedIn   Email article link
Friday 23 October 2020

Citrix still buoyed by work from home wave

Citrix logoCitrix Systems beat its own guidance in Q320 delivering 5% revenue growth to $767m with net income of $98m as it benefitted once again from the ongoing work from home wave. This keep demand for the Workspace remote working product high and indeed Workspace now represents 75% of total revenue and saw 12% growth during the quarter. CEO David Henshall believes demand should remain strong as work models go hybrid.

Subscriptions also contributed to growth and saw a 64% increase. Within that SaaS grew a more modest 37% to $138m. Citrix is working through revenue model transition which effected Q3 results and the pandemic slowed the subscription transition. However, as Workspace will no longer be sold on a perpetual licence basis, the transition is poised to move ahead.

Licence revenue dipped as would be expected. But so too did Networking segment revenue, which fell 12% to $166m. Revenue from this part of the business is expected to remain under pressure as the mix shifts from hardware to software. As of Q4 the division will be renamed as App Delivery and Security. While Workspace is roaring ahead, it looks like  Networking needs some attention. 

Posted by: Angela Eager

Tags: results   software  

Twitter   Facebook   LinkedIn   Email article link
Friday 23 October 2020

CSR falls victim to COVID-19 crisis

HM Treasury logoThe Comprehensive Spending Review (CSR) has fallen victim to the COVID-19 crisis. The announcement follows the decision, which was revealed at the end of September, to postpone the Autumn Budget until next year.

The CSR was launched at the end of July 2020 to set UK Government departments’ resource budgets for the years 2021/22 to 2023/24 and capital budgets for the years 2021/22 until 2024/25, and devolved administrations’ block grants for the same period.

It has now been announced that the CSR will be replaced with a one-year Spending Review, which will set departments' resource and capital budgets for 2021-22. Similar to last year's review—which was rebranded a Spending Round—multi-year NHS and schools’ resource settlements will be fully funded (see Spending Round 2019: turning the page on austerity?). The last full spending review took place in 2015.  

Public sector areas outside of the NHS and schools will need to continue to live hand to mouth; it does not provide the long-term assurance they need in order to plan effectively. The decision will come as a huge disappointment to local authorities as they continue to struggle with the additional service demand from the pandemic on top of existing long-term challenges e.g. adult social care (see UK Local Government Software & IT Services: Suppliers, Trends & Forecasts 2020-2023).

The decision will also have a significant impact on the Governments ambitions to reduce technical debt in Whitehall. A key focus of the spending review was expected to be addressing the legacy technology used across departments. The decision to postpone the CSR is likely to mean we will see continued caution in retiring these legacy systems (see Central Government Software & IT Services: Suppliers, Trends & Forecasts 2020-2023).

Although the decision to delay the CSR will be a disappointment to many, it is understandable given the uncertainty over the economic outlook. If the CSR did take place in November there was a real risk of it being out of date almost immediately, but it will mean ambitious plans for digital transformation are likely to be reined-in until there is further clarity over long-term funding. 

Posted by: Dale Peters

Tags: publicsector   government   budget  

Twitter   Facebook   LinkedIn   Email article link
Friday 23 October 2020

Dragon bets its shirt (and ties and suits) to Personify web experience

logoIt usually does no harm on the PR front for an e-commerce start-up to have a TV ‘personality’ as a backer, especially if the backer happens to run a number of retail businesses.

Such is the case for London-based ‘anonymous visitor personalisation’ platform, Personify XP, which raised £550k in a pre-seed funding round backed by Founders Factory, Touker Suleyman and other high-profile angels. Suleyman appears on BBC’s Dragon’s Den and backed Personify on its launch in 2018, introducing the platform to one of his clothing chains, Hawes & Curtis. Retailers Farfetch and Marks & Spencer are also investors.

Personify’s USP is that it does not use cookies to personalise a visitor’s journey through an e-commerce website.

Off to a good start then.

Posted by: Anthony Miller

Tags: funding   startup  

Twitter   Facebook   LinkedIn   Email article link
Friday 23 October 2020

Softcat services accelerate on customer demand

softSoftcat’s FY20 results (12 months to end July) were released on Tuesday, and readers wouldn’t have failed to notice the very impressive 36.6% growth in services.

Overall revenue breached the one-billion-pound mark at £1.077bn, up 8.6%. The services business, however, rocketed 36.6% to £115.3m – growth rates that are typically the reserve of start-ups and Hyperscalers/cloud natives. Growth has been driven by customer demand rather than a specific intention to accelerate the services business. 

Softcat's services portfolio includes managed services, consulting and support directly to customers, but also services to support vendor partners and resale of services – from a wide range of partners from AWS, to IBM and HPE. However, the objective is to sell services as part of an overall solution that is being provided; they are “additive to a technology conversation,” CEO, Graeme Watt, tells me. Areas of particular activity in FY20 were – not surprisingly – cloud and cyber security.

With a sound financial base beneath it, Softcat is able to continue plugging away at some of its longer-term objectives. For example, its apprentice and graduate schemes continue to run in spite of the pandemic (with appropriate adaptations). Since the end of FY20, the firm has taken on c70 new recruits, and typically takes on 200 across the year in total.

All in all, Softcat continues to execute and remains in an enviable position.

Posted by: Kate Hanaghan

Tags: results   cloud   cyber  

Twitter   Facebook   LinkedIn   Email article link
Friday 23 October 2020

Service management is the star in IFS world

IFS logoA selective set of financial data points released by IFS indicates that despite some substantial contract wins COVID-19 has impacted performance, yet it still delivered double digit growth due to its industry strategy and particularly its service management focus.

For the nine months to the end of September 2020, revenue increased 12% to 5111m SEK ($544m). Although the rate of growth was considerably lower than the 23% of the year ago period, this is a good result for a supplier with a heavy focus on the hard hit manufacturing sector. Service management was the star performer with revenue up 86% yoy and tracking to top 100% growth by the end of the year. Cloud revenue was up 59% and recurring revenue increased 41%. Both are important indicators of how IFS is transitioning but the absence of actual revenues or percentages of total revenue makes progress more opaque. Likewise the absence of profitability figures. As a privately held company IFS is not required to release such financials. 

Nevertheless new customer wins, including aircraft manufacturer De Havilland Canada, and French engineering company Ginger Group who is deploying IFS enterprise applications to support 2,000 staff across 28 subsidiaries, are tangible signs that IFS continues to make progress.

Posted by: Angela Eager

Tags: trading   software  

Twitter   Facebook   LinkedIn   Email article link
Friday 23 October 2020

Freshly rebranded Coforge on track

logoFreshly rebranded mid-tier offshore services firm Coforge (nee NIIT Technologies – see Goodbye NIIT Tech, hello Coforge) joined peers in seeing a recovery in FQ2 (to 30th Sept.) with revenues rising by 3.9% yoy to $154.5m, over 10% higher than the prior quarter. Growth was pretty much evenly spread across the regions, with share from Europe remaining steady at 36%. Operating margins improved to 14.8%, the highest level for well over a year.

So far, CEO Sudhir Singh’s expectation of “a growth-led performance for the full year FY21” (see NIIT Tech looks towards a growth year) seems to be on track at the halfway point.

Posted by: Anthony Miller

Tags: offshore  

Twitter   Facebook   LinkedIn   Email article link
Friday 23 October 2020

Mphasis recovers as Europe falters

logoLike mid-tier peers LTI and Mindtree, Bangalore-based offshore services supplier Mphasis staged somewhat of a recovery in FQ2 (to 30th Sept) with revenues increasing to $327.4m, 7.4% up yoy and 7.2% higher than the prior quarter. However, all of this gain came from the US as Mphasis, unlike perers, lost grip in Europe. The US market now represents over 78% of Mphasis’ total revenues. Operating margins improved, to 16.1%, in-line yoy and up 40bps qoq.

However, though now owned by Blackstone, revenues from ex-parent DXC (via EDS-to-HP-to-CSC) crashed even faster than the prior quarter (see Mphasis slips as DXC channel falters), down one-third yoy and 15% lower than FQ1.

Nevertheless, CEO Nitin Rakesh is bullish about Mphasis’ prospects, having won new contracts worth $360m from ‘Direct’ customers in the quarter, the highest on record. But the DXC channel remains responsible for 16% of Mphasis revenues, even after three quarters of decline, so Rakesh is still pedalling against a strong headwind.

Posted by: Anthony Miller

Tags: offshore  

Twitter   Facebook   LinkedIn   Email article link
Friday 23 October 2020

*New Research* Financial Markets Transformation "The Big Bang That Nobody Heard"

FMTThe technology-led changes that revolutionised the UK financial markets sector in the 1980's have strong parallels with the transformation that is currently underway. Despite today's period of change not being characterised by a single dramatic “switch-on”, it is one that may prove to be just as significant for the future of the sector.

Once again regulation is a key driver and wafer-thin margins have helped fuel the adoption of new, technology-driven approaches as firms seek greater efficiency and cost control, coupled with a focus on the customer.

TechMarketView clients that subscribe to FinancialServicesViews can learn more by downloading Financial Markets Transformation “The Big Bang That Nobody Heard.  This report explores the factors driving change and examines the disruptive impact of digital technologies on established processes. The report also takes a look at a varied selection of the specialist SITS vendors active in the financial markets sector.

If you do not already have access to this report and would like to learn more, please contact Deb Seth.

Posted by: Jon C Davies

Tags: financialservices   DXC   CapitalMarkets   financialmarkets   fixnetix   FirstDerivatives   IONGroup   SS&C   AlphaFM   Arcontech   Nivaura   TransFICC   BeeksFinancialCloud  

Twitter   Facebook   LinkedIn   Email article link
Friday 23 October 2020

Talk to us about a featured Sponsored Post in our UKHotViews....

With the popularity of our daily UKHotViews e-newsletter increasing (we now have over 19,000 subscribers), TechMarketView is offering you the chance to have access to this audience as a critical part of your marketing strategy and success for 2020 and beyond.  

LOGO

A sponsored post placed directly within our daily newsletter, and also hosted on the UKHotViews page of our website, will enable you to grow your network, make new connections, drive lead generation, promote a product or service, announce success stories or simply raise your profile.

What is a Sponsored Post?

A Sponsored Post closely resembles a UKHotViews article and appears within the body of the newsletter and website copy catching the reader’s eye in a prime location. Additionally, UKHotViews is posted directly to our Twitter feed where your ad will be viewed by our increasing number of Twitter followers.

All of this means your advert will be seen by many of the most influential decision makers within the UK tech sector, and with only ever one Sponsored Post in the UKHotViews newsletter your advert is guaranteed a high ‘share of the voice’.

For more information and details on our advertising services please contact Emily Mills

Posted by: HotViews Editor

Twitter   Facebook   LinkedIn   Email article link
Thursday 22 October 2020

Shearwater H1 revenue set to drop 33%

sheTurning in what the Board describes as “a resilient performance” that was in line expectations, Shearwater Group expects revenue in H1 FY21 (to end September 2020) to come in at £11m. Revenue for the comparable period last year was £16.3m - i.e. down an eye watering 33% in FY21.

Underlying EBITDA is expected to be the same as last year at £1m – i.e. an improved margin.

At the close of FY20 (end March), organic revenue had decreased 16% year on year as customers significantly reduced their spending on cyber security hardware. Reduced engagements around GDPR following the 2018 peak also hit Shearwater (and others in the consulting industry).

The start of H1 coincided roughly with the beginning of the national lockdown in the UK, and COVID has taken its toll. Shearwater has been hit with delayed client decision making and the deferment of some services into the second half of the financial year. Shearwater says it is still, however, seeing good levels of activity from sectors such as Financial Services and Telecoms and has minimal exposure to sectors hardest hit by the pandemic.

Shearwater has been highly acquisitive (e.g. see Shearwater adds £7.4m Secarma pentest assets) and continues to pursue that strategy. H1 has seen new customer wins and expansions within existing accounts. There are new products coming to market in H2, such as a SaaS-based Identity and Access Management platform, which show potential. Future acquisitions will be made in order to further support the broadening and deepening of the portfolio.

The Board says it is entering the second half of the year in a “strong position”, supported by an increased order book of contracted revenue. Let’s hope momentum in the second part of the year can help counter the major dip in H1.

Full first half results are released in November.

Posted by: Kate Hanaghan

Tags: cyber   tradingupdate  

Twitter   Facebook   LinkedIn   Email article link
Previous 1 2 3 Next 


© TechMarketView LLP 2007-2020: Unauthorised reproduction prohibited see full Terms and Conditions.