SKO - Serko.com

[Balance]

Agree, but they're taking all necessary steps to mitigate impact now and be ready to forge ahead when tide the turns.

My pick is we might see them settle around $3s price range for now...

In a drought, good farmers with excellent farms do not panic and shoot all their animals and stop planting crops.

Many actually take the opportunity to expand their farms by buying up neighbouring farms!

[Balance]

The near term was only ever about development. The way I see it, they have cash that will see them through and beyond the roll out of those developed product suites into a recovered/recovering market. I wonder if any would-be 'competitors' are in the same boat?

Most would be in the same boat - there’s simply not much business in the travel & accommodation industry. And will not be for a while. Difference is that Serko is superbly cashed up and well positioned to recover post lockdown globally.

Have a look at Webjet - having to go cap in hand to raise capital at ever lower price because it got caught with a stretched balance sheet.

https://www.ig.com/en/news-and-trade-ideas/where-next-as-webjet-upsizes-its-equity-raise-to--346-million-200402

[t.rexjr]

Difference is that Serko is superbly cashed up and well positioned to recover post lockdown globally.

Have a look at Webjet - having to go cap in hand to raise capital at ever lower price because it got caught with a stretched balance sheet.


That was somewhat my point... I think...

[Timesurfer]

That’s a bit like saying why anybody should place a fair value a well built high quality building just because it is vacant in the short term.

Well I guess there is the debate over what is fair value. Currently double the value it was a week ago but one third the value it was a few months ago.

I guess my point was that if you are looking to invest at the moment the travel industry is definitely a mid to long term investment before we will see "business as usual" or any real revenue flowing. Would you rush into that or would you look to invest in say the construction industry that should rebound reasonably quick with Governments throwing billions at to stimulate recovery.

However, as stated, my net worth is heavily invested in this industry so the sooner it gets back to $6 the happier I will be.

[Timesurfer]

106 buyers @ $2.52 nothing peculiar about that.

[winner69]

106 buyers @ $2.52 nothing peculiar about that.

Weird ........

[Cadalac123]

Regret missing this trade so I’m probably bitter but wtf ? Lol

Good ole institutional algos picking this up like crazy probably got greedy on the idea of making baggers from $1

Hard to time eh

[Southern_Belle]

what is happening this morning??

[Timesurfer]

Someone appears to be consistently buying up SKO.
No depth on the buy side but the price has been quietly propped up with reasonable trades going through (with the occasional buying frenzy).

[Cadalac123]

Someone appears to be consistently buying up SKO.
No depth on the buy side but the price has been quietly propped up with reasonable trades going through (with the occasional buying frenzy).

You must be glad about Serko haha

[Cadalac123]

geez some of these disclosures are pretty hefty..

[sb9]

Just pushing this at front of forum, as we move into $3 range....

[Timesurfer]

Rising like a rocket on the basis of the impending tourism boom. Or are the fund boys pushing it up so they can exit some more? Milford's last disclosure was pretty revealing.
One thing is for sure, someone will make lots of money.

[Balance]

Rising like a rocket on the basis of the impending tourism boom. Or are the fund boys pushing it up so they can exit some more? Milford's last disclosure was pretty revealing.
One thing is for sure, someone will make lots of money.

Milford selling out and Harbour buying - from weak non-non-commited hand to stronger committed hand, hopefully.

[sb9]

Milford selling out and Harbour buying - from weak non-non-commited hand to stronger committed hand, hopefully.

That's how see it as well ,Harbour surely are bit more committed than Milford...

[RTM]

That's how see it as well ,Harbour surely are bit more committed than Milford...

Hope so.
I guess the tourist market is relatively unimportant for SERKO.
But I do wonder how quickly business travel will return and how long it takes for volumes to ramp up ?
Maybe quicker than I appreciate within USA and Europe.
Disc: Holder.

[Timesurfer]

Hope so.
I guess the tourist market is relatively unimportant for SERKO.

Disc: Holder.

I am not sure it is that unimportant as they whitelist their product for others to use, I don't know if these providers are using it for the general travel.
I am looking forward to seeing what comes out of their extra R&D investment during this time.

[silu]

fwiw a multinational company from Germany I worked for many moons ago has told their staff and directors that there won't be any business flights for the next 12 months unless in an emergency. So no trade shows, customer visits, meetings of distributors etc. Everything to be done via videoconferencing.

discl. like the company but not holding at the moment

[Beginnerguy]

I a lot of hope built into the share price at these levels. Business travel is going to be severely curtailed over the next few years. Firstly, international flights are more than likely going to be off the agenda for 2020 and possibly 2021, coupled with most businesses wanting to cut costs as they face the pressure of likely recession. Lastly, what working from home and online meetings has shown us is that it's perfectly adequate in most cases to replace business travel. Most definitely not all, but it's hard to see the level of bookings returning to 2019 levels within the next 3 years. Moreover the many thousands of companies they work with in the travel industry might be under pressure to even survive. This is just my take on things.
One investing house I follow has this priced at around $1.50 and I'm afraid to say I don't disagree.

Even before the pandemic hit, the first half was readjusted downward. Seems as if growth hasn't moved much in the US. So there were issues even beforehand. The company wasn't generating positive operating cash-flow and now this looks like many moons away.

The 100m revenue target looks like a pie in the sky too. Don't understand how this has a market cap of 268m. Over 10x sales with no profit, no op cf.

[BlackPeter]

Very sensible points, but please - don't annoy the believers ... they well might go after you :);

A quite expensive loss making but so called "growth company" with a much higher risk of going down than a chance of going up during the coming reality phase of this crisis.

Growth companies don't fare well in economical downturns. Reliable income and dividend streams are king and Serko offers neither.

[Balance]

Very sensible points, but please - don't annoy the believers ... they well might go after you :);

A quite expensive loss making but so called "growth company" with a much higher risk of going down than a chance of going up during the coming reality phase of this crisis.

Growth companies don't fare well in economical downturns. Reliable income and dividend streams are king and Serko offers neither.

All views are welcome.

[sb9]

Looks set to move into $4 range....what a ride from lows of around 80c back in March to almost $4 now....did held my nerve and never bailed out.

[Balance]

Looks set to move into $4 range....what a ride from lows of around 80c back in March to almost $4 now....did held my nerve and never bailed out.

Likewise.

More volatility ahead though so buckle down still! :scared:

[Cadalac123]

Ah.. was so tempted to re enter at 80c... ohwell, did not see this type of recovery coming. Maybe bookings taking that holding created a really good sentiment among brokers.

[janner]

Looks set to move into $4 range....what a ride from lows of around 80c back in March to almost $4 now....did held my nerve and never bailed out.

Much better than 2 cents, aye ?



Disc. Have been nibbling since the 90's

[sb9]

Much better than 2 cents, aye ?



Disc. Have been nibbling since the 90's

Good on ya, I wasn't that brave soul around that time...

[winner69]

Except for virus impacts pretty solid performance Pity about that ‘ precipitous decline’ in March

When things come right Serko will do well

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/SKO/355124/325041.pdf

[bull....]

2 years of cash left before they need more again

[Quantitative Easing]

Would corporate travel ever be the same after covid? Our company (large corporate) was trying to reduce carbon emissions well before Covid-19 and had a very strict corporate travel (flying) restriction. Covid-19 just accelerated us achieving our carbon emissions reduction target. I feel as though post Covid-19 a lot of overseas meetings would just happen online. There would be some travel, but at a reduced capacity...

[sb9]

Except for virus impacts pretty solid performance Pity about that ‘ precipitous decline’ in March

When things come right Serko will do well

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/SKO/355124/325041.pdf

Not a bad result considering the industry they operate in, that cap raise towards end of last year was good coincidence and at premium price too.

[Oliver Mander]

Not a bad result considering the industry they operate in, that cap raise towards end of last year was good coincidence and at premium price too.

Agree with the last part - best timed capital raise in recent history, a BIG advantage for them right now.
But I'm not sure it would have been a great result anyway, even if Covid hadn't happened. If you add back the March month revenue to pre-Covid levels, you don't get a wonderful revenue growth figure for the year...certainly below my forecast expectations.

Ironically, Covid could be the 'saving grace' for them long term...it will have disrupted everyone, and they now have a great cash position thanks to that capital raise to manage their way through as competitors (potentially) fall by the wayside.

My 2 cents only of course.

[BlackPeter]

Except for virus impacts pretty solid performance Pity about that ‘ precipitous decline’ in March

When things come right Serko will do well

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/SKO/355124/325041.pdf

Hmm - $115,000 revenue per FTE and year is not that flash, isn't it? But then - they are a growth company, i.e. they just need to make sure revenue (and hopefully earnings) are growing faster than headcount. Would protect them as well from moving too fast into the difficult phase above 500 FTE's when companies need to tight up their processes or fall back.

Heard AIR is planning for a new normal (if & when we passed the Covid phase) in travel of 70% of previous traffic. Just wondering how this will impact on Serkos business?

I am sure they are an amazing company, but does today's share price really reflect a fair balance of risks and opportunities - or is this just based on "she'll be right"?

[sb9]

Anyone on conf call y'day following results announcement. Appreciate if you could summarise key points, couldn't dial in myself due to prior commitments. Will check if there's a transcript available from their website later on.

[sb9]

Anyone on conf call y'day following results announcement. Appreciate if you could summarise key points, couldn't dial in myself due to prior commitments. Will check if there's a transcript available from their website later on.

https://publish.viostream.com/play/ndpapddnhkstaq

Link to y'day's conf call transcript for anyone interested.

[silu]

Does Serko have a pivot strategy? I still am a big fan of Serko but have sold all my shares a while ago. Amazing how well the share price has held up with news likes these:

https://www.abc.net.au/news/2020-06-25/qantas-cuts-show-economic-recovery-from-coronavirus-will-be-slow/12391042
"That means Joyce is expecting Australia's international border to remain closed, at least for tourists, until July next year."

[sb9]

Does Serko have a pivot strategy? I still am a big fan of Serko but have sold all my shares a while ago. Amazing how well the share price has held up with news likes these:

https://www.abc.net.au/news/2020-06-25/qantas-cuts-show-economic-recovery-from-coronavirus-will-be-slow/12391042
"That means Joyce is expecting Australia's international border to remain closed, at least for tourists, until July next year."

The Q+A at the end of presentation in the link I posted will have some of your questions answered.

[Everwood]

Yesterday on NewstalkZB Heather du Plessis-Allan interviewed Darrin Grafton
https://www.newstalkzb.co.nz/on-air/heather-du-plessis-allan-drive/audio/bosses-rebuilding/bosses-rebuilding-serkos-darrin-grafton/?utm_content=133667272&utm_medium=social&utm_source=facebook&hss_channel=fbp-97

[sb9]

Moving along with their business...

Ovation Travel Group becomes the latest Zeno reseller partner for North America - 5 Aug 20

https://www.serko.com/news/ovation-travel-group-becomes-the-latest-zeno-reseller-partner


Acendas Travel becomes a Zeno reseller partner for North America - 23 Jul 20

https://www.serko.com/news/serko-and-acendas-travel-ink-reseller-agreement-for-zeno

[Leftfield]

Moving along with their business...

Ovation Travel Group becomes the latest Zeno reseller partner for North America - 5 Aug 20

https://www.serko.com/news/ovation-travel-group-becomes-the-latest-zeno-reseller-partner


Acendas Travel becomes a Zeno reseller partner for North America - 23 Jul 20

https://www.serko.com/news/serko-and-acendas-travel-ink-reseller-agreement-for-zeno


Mmmm lots of head winds in the travel industry..... TA not looking great. AGM scheduled for 19 Aug going to be interesting.

Disc - SKO was my second largest holding however over the last 6 months I've reduced exposure and taken profits. Now less than 2% of my portfolio. Cautious hold for me.

As always DYOR.

[sb9]

Mmmm lots of head winds in the travel industry..... TA not looking great. AGM scheduled for 19 Aug going to be interesting.

Disc - SKO was my second largest holding however over the last 6 months I've reduced exposure and taken profits. Now less than 2% of my portfolio. Cautious hold for me.

As always DYOR.

It'll be interesting what unfolds on 19th Aug at the ASM. They sure have headwinds in the travel sector but they seem to adeptly navigating the ship by diversifying into other areas leveraging their SAAS expertise. Still have all of my holdings.

[whatsup]

Numerous black outs at todays virtual AGM, NOT GOOD !!!!!!!

[tango]

Numerous black outs at todays virtual AGM, NOT GOOD !!!!!!!

At first I thought it was my Internet connection and I kept refreshing everything! Frustrating for a tech company

[Everwood]

Numerous black outs at todays virtual AGM, NOT GOOD !!!!!!!

I agree, it's ridiculous. I came here to see if anyone else was having problems.

[whatsup]

Back up again after a break down.

[tango]

I agree, it's ridiculous. I came here to see if anyone else was having problems.

I can’t get back in. I have another shareholder meeting for tilt technology. Maybe I’ll do that instead

[tango]

Haven’t we seen this before??? Are they repeating everything?

[whatsup]

Haven’t we seen this before??? Are they repeating everything?

She has had to restart the meeting, not her fault.

[Getty]

Haven’t we seen this before??? Are they repeating everything?

Is it vacuous verbiage, or virtual virtuosity?

[Getty]

Maybe its virtual verbiage, or vacuous virtuosity

[tango]

Only 1 question!

[sb9]

Behind paywall on NBR titled,

"Serko eyes bigger partnership with Booking.com"

Explains the bump in sp since ASM y'day..

[sb9]

For anyone interested, replay of y'day's ASM. I quite enjoyed Darrin's part where he outlines further details with Booking.com partnership and future plans.

https://publish.viostream.com/play/ndpapddn79thsb

[Leftfield]

For anyone interested, replay of y'day's ASM. I quite enjoyed Darrin's part where he outlines further details with Booking.com partnership and future plans. https://publish.viostream.com/play/ndpapddn79thsb

Thanks for posting. Much appreciated.

Still part of my portfolio, but on a much reduced scale. While I've taken profits and de-risked I think SKO still has great potential IMO.

The Booking.Com partnership pending deal sounds exciting. They are building a great foundation for exponential future growth when/if safe travel resumes.

[Everwood]

You can hear a good interview with Darrin here https://www.nbr.co.nz/category/tech At the moment the interview is on page 1. Just click on speaker icon to listen.

[tango]

You can hear a good interview with Darrin here https://www.nbr.co.nz/category/tech At the moment the interview is on page 1. Just click on speaker icon to listen.

Thanks for that. This is a really promising partnership being rolled out

[sb9]

You can hear a good interview with Darrin here https://www.nbr.co.nz/category/tech At the moment the interview is on page 1. Just click on speaker icon to listen.

Nice snippets on that piece, should hear some sort of an announcement soon based on that interview.

[Everwood]

Serko won the 2020 PwC NZ Hi-Tech Company of the Year Award last night https://www.facebook.com/zeno.travel.serko/

[Everwood]

Serko won the 2020 PwC NZ Hi-Tech Company of the Year Award last night https://twitter.com/SerkoOnline
(https://twitter.com/SerkoOnline)Sorry for the double post

[sb9]

Serko won the 2020 PwC NZ Hi-Tech Company of the Year Award last night https://twitter.com/SerkoOnline
(https://twitter.com/SerkoOnline)Sorry for the double post

Nice accolade for the company under current business environment and resilience shown by the team.

[BlackPeter]

Nice accolade for the company under current business environment and resilience shown by the team.

Sure ... however there are probably more examples for award winning companies doing tough than doing well. Makes as well sense:

Apart from the boards awarding these rewards not even using economical success as a criterion, they don't know more about the future (or the past) than anybody else. Business awards are just a smoke screens to distract the investors eyes from whatever matters.

[sb9]

Sure ... however there are probably more examples for award winning companies doing tough than doing well. Makes as well sense:

Apart from the boards awarding these rewards not even using economical success as a criterion, they don't know more about the future (or the past) than anybody else. Business awards are just a smoke screens to distract the investors eyes from whatever matters.

For sure, business awards do not necessarily translate into bullish share price. Its just an acknowledgement of a sound business model that company operates in, at least in tech world.

[BlackPeter]

For sure, business awards do not necessarily translate into bullish share price. Its just an acknowledgement of a sound business model that company operates in, at least in tech world.

I dare to disagree. The award says only that the company considers itself as "Hi tech" and that their managers / owners know the right people (which is easy in NZ).

Sure - previous winners have been XRO and PPH (which may or may not be considered to produce High Tech), but as well Orion Health, Wynyard, ikeGPS and a lot of companies I never heard about like e.g. "Carnival Labs" and "Trigger Happy" - hmm).

Orion Health and Wynyard - sound business models? Are you sure?

Anyway - clearly not a requirement to get this award ...

[sb9]

I dare to disagree. The award says only that the company considers itself as "Hi tech" and that their managers / owners know the right people (which is easy in NZ).

Sure - previous winners have been XRO and PPH (which may or may not be considered to produce High Tech), but as well Orion Health, Wynyard, ikeGPS and a lot of companies I never heard about like e.g. "Carnival Labs" and "Trigger Happy" - hmm).

Orion Health and Wynyard - sound business models? Are you sure?

Anyway - clearly not a requirement to get this award ...

You answered your own question in that there are always and will be exceptions...

[BlackPeter]

You answered your own question in that there are always and will be exceptions...

I didn't ask any question. I stated that the award has absolutely nothing to do with a sound business model or the past, present or future economic success of the winner. Some of them are successful, some may or may not be successful in the future and others clearly have been terrible failures.

The award is worthless to assess the quality of a company. Just an opportunity for the old boys to dust off their black suits once a year ...

[sb9]

I didn't ask any question. I stated that the award has absolutely nothing to do with a sound business model or the past, present or future economic success of the winner. Some of them are successful, some may or may not be successful in the future and others clearly have been terrible failures.

The award is worthless to assess the quality of a company. Just an opportunity for the old boys to dust off their black suits once a year ...

Each to their own and depends on what barometers out there to assess business veracity.

[sb9]

On the move....

[Timesurfer]

Inclusion in the S&P - set to return to former highs despite next to no travel?

[sb9]

Sold about a quarter of holding into the bounce, just to balance risk weighting on this one.

[Beagle]

Inclusion in the S&P - set to return to former highs despite next to no travel?

Makes a bit of a mockery of the rebalancing system doesn't it.

[Leftfield]

Sold about a quarter of holding into the bounce, just to balance risk weighting on this one.

Sound decision. FWIW I sold 80% of my holding on the way down (around the death cross). Took my profits.

Sad as I like the company, like the product, like the management.

However the Covid headwinds for the travel industry are likely to continue to disrupt this for a couple of years IMO. In the meantime I thought better to have my money chasing potential elsewhere eg; PEB, IKE and PLX. Crikey I even bought a few OCA (all doing well too!)

[jimdog31]

Makes a bit of a mockery of the rebalancing system doesn't it.

they seem to be on the cusp of announcing further partnerships with booking.com, the ceos speaking engagements have emphasised that they are doing well from domestic travel too. He did inspire some confidence.

[silu]

Sold about a quarter of holding into the bounce, just to balance risk weighting on this one.

It's now back to the levels I sold out this year. I don't think I ever liked a company that much but haven't got a stake in it. I really do wish them well but at current levels I'd feel uncomfortable holding, especially a large parcel I held prior. I hope I do eat my hat and holders are rewarded richly. I of course try to find a way in again at some stage at the right price.

[Timesurfer]

unfortunately I completely underestimated the hysterical response to COVID so rode it down to $1 and back up to $3 before deciding other companies would double my money quicker. So I sold most of my shares off (still hold a few thousand for nostalgia). I probably should have held a few more the way it is going. I’ll probably pick up some more along the way.

However, I can’t complain with the performance of IKE or some of my Aussie shares either.

[t.rexjr]

It's now back to the levels I sold out this year. I don't think I ever liked a company that much but haven't got a stake in it. I really do wish them well but at current levels I'd feel uncomfortable holding, especially a large parcel I held prior. I hope I do eat my hat and holders are rewarded richly. I of course try to find a way in again at some stage at the right price.

The thing is...
The way I see it, owning a share in the company isn't about the now. Although Covid will have many a consequence, this 'moment in time' is only a distraction for retail shareholders. App development is the current focus. Although the posts have moved the goals have not changed. The potential is still exceptional. I dare say the future may now actually be closer...

[Timesurfer]

The thing is...
The way I see it, owning a share in the company isn't about the now. Although Covid will have many a consequence, this 'moment in time' is only a distraction for retail shareholders. App development is the current focus. Although the posts have moved the goals have not changed. The potential is still exceptional. I dare say the future may now actually be closer...

I fully agree with what you say - and I have no doubt SKO is destined for greatness.
However, at the time of selling I figured (possibly incorrectly) that the posts had moved beyond my short term goals.
Who knew that SKO would bounce back so quickly on the back of a decimated travel industry.

The consolation being that I discovered AL3 which is another disruptor that has been on a rocket ride for the past 3 months :t_up:

[Cadalac123]

I fully agree with what you say - and I have no doubt SKO is destined for greatness.
However, at the time of selling I figured (possibly incorrectly) that the posts had moved beyond my short term goals.
Who knew that SKO would bounce back so quickly on the back of a decimated travel industry.

The consolation being that I discovered AL3 which is another disruptor that has been on a rocket ride for the past 3 months :t_up:

Where do you find these gems m8 haha

[peetter]

Any idea why Serko is climbing so fast?

[whatsup]

Any idea why Serko is climbing so fast?

Some fish head said today that international travel will be back to normal by 2022.

[Balance]

Any idea why Serko is climbing so fast?

Inclusion in NZX index

[peetter]

Thanks guys

[sb9]

Trimmed a bit more at current levels and brought down my holding to more balanced level. Keep the remainder for long term at very big safety margin now...

[Cadalac123]

Is there something going on here.. how does the price recover like this lol

[winner69]

Is there something going on here.. how does the price recover like this lol

What happens when you become one of the big boys (nzx50)

I recall Comvita going to 12 bucks when it became a big boy

[BlackPeter]

What happens when you become one of the big boys (nzx50)

I recall Comvita going to 12 bucks when it became a big boy

... and just look where they are now :p;

[winner69]

... and just look where they are now :p;

Where Comvita are now is what happens if you don’t behave / perform like a big boy

I note that that Corporate Travel outfit CTD share price doubled lately ...market must like travel companies again

[Cadalac123]

Where Comvita are now is what happens if you don’t behave / perform like a big boy

I note that that Corporate Travel outfit CTD share price doubled lately ...market must like travel companies again

has corporate travel picked up under our noses, or are the big boys rushing in to these "recovery stocks" eh

[winner69]

has corporate travel picked up under our noses, or are the big boys rushing in to these "recovery stocks" eh

Some big boys

CTD share price interesting action last year ...came under extreme pressure from VGI going short and issuing damning reports about them ... and then covid ...but heading back up now u

[Balance]

Where Comvita are now is what happens if you don’t behave / perform like a big boy

I note that that Corporate Travel outfit CTD share price doubled lately ...market must like travel companies again

Darkest before dawn and all that, W69.

Still got my Serko shares although it has been a really rough ride in the last 6 months!

[Timesurfer]

Still got my Serko shares although it has been a really rough ride in the last 6 months!

Well done that man. I am wishing I had all mine too - won’t be back in at that level again now.

[winner69]

Another cap raising

Not that busy at the moment it seems but looking at world domination

Going for broke often good strategy for the ambitious

Cool

[Leftfield]

Another cap raising

Not that busy at the moment it seems but looking at world domination

Going for broke often good strategy for the ambitious

Cool

The right move IMHO, but still huge headwinds in this industry for 1 to 2 years.

Pandemic travel slump may cost 46 million jobs globallyThe impact of the coronavirus on travel may cost as many as 46 million jobs globally, according to projections published by an aviation industry group.
The Air Transport Action Group (ATAG) predicted that the travel slump and a slow recovery will threaten 4.8 million aviation workers and more than half of the 87.7 million total jobs supported directly or indirectly by the sector, in related leisure industries and supply chains.

Disc - was my second biggest holding, but much scaled back in light of Covid.

[calledone]

With so much corporate meetings happening online now I wonder if corporate travel will ever return to the pre covid levels.

[Timesurfer]

With so much corporate meetings happening online now I wonder if corporate travel will ever return to the pre covid levels.
Unlikely. However, their white label product delivers to more than just corporate travel as I understand it?

[Balance]

With so much corporate meetings happening online now I wonder if corporate travel will ever return to the pre covid levels.

It will recover very quickly - deals are extremely hard to do with online meetings.

[tango]

It will recover very quickly - deals are extremely hard to do with online meetings.

Deals may be hard to do online but a lot of meetings can easily be done online. I don't believe corporate travel will recover to previous levels. I expect around 10% of the sector to never return. There are great tools now for sharing info and managing meetings online. Not to mention that some companies will simply not be able to afford it in the near future.

There are tough times out there in the travel, entertainment and hospitality industry.
Disney is laying off 28,000 workers.
The CDC extended the cruise ship ban to USA waters until at least 31 October and apparently wanted to ban cruise ships until 15 Feb 2021 but had to compromise with the White House on 31 Oct.

I'm also mindful that Greg Foran is warning that Air NZ are forecasting a slow travel recovery and not expecting it to be back to 100% in the next 3 years.

Having said that, I like the partnerships Serko have created and the potential opportunities so I will consider investing more.

[daveypnz]

The situation here reminds me of the movie "Up in the Air".

[Balance]

https://www.nzx.com/announcements/360817

Placement upsized and price set at $4.55.

SP will be $5 soon - that's clear enough.

[sb9]

https://www.nzx.com/announcements/360817

Placement upsized and price set at $4.55.

SP will be $5 soon - that's clear enough.

Must've been some solid demand from big boys...

[Balance]

Must've been some solid demand from big boys...

Glad I hung onto my shares even though it has been a really rough ride in the last 6 months!

[sb9]

Glad I hung onto my shares even though it has been a really rough ride in the last 6 months!

I've got about 70% of my original holding after offloading a bit in recent price run up due to NZX 50 inclusion.

[silu]

I got FOMO. Well done to holders and who participated in the SPP. It's trading above at what I sold but there's no use crying over spilt milk. I was a supporter from day dot yet I got weak when Covid hit. Doesn't matter how old I'm getting I'm still learning new things every day.

[sb9]

I got FOMO. Well done to holders and who participated in the SPP. It's trading above at what I sold but there's no use crying over spilt milk. I was a supporter from day dot yet I got weak when Covid hit. Doesn't matter how old I'm getting I'm still learning new things every day.

Don't beat yourself up, it was very fluid and dire situation between Mar-May. I was in similar boat but just had enough courage to hold on. And when opportunity presented recently have lightened up holding to bring down my av price to much more comfortable levels. We live and learn, don't we and am sure there will be another opportunity for you.

[percy]

The right move IMHO, but still huge headwinds in this industry for 1 to 2 years.

Pandemic travel slump may cost 46 million jobs globallyThe impact of the coronavirus on travel may cost as many as 46 million jobs globally, according to projections published by an aviation industry group.
The Air Transport Action Group (ATAG) predicted that the travel slump and a slow recovery will threaten 4.8 million aviation workers and more than half of the 87.7 million total jobs supported directly or indirectly by the sector, in related leisure industries and supply chains.

Disc - was my second biggest holding, but much scaled back in light of Covid.

Seems to be in the wrong sector at the wrong time.
Old figures to 31st March :their revenue was a modest $25.9 mil,compared with a market cap of $435.994 mil.
Cash burn means yet another capital raise which just adds to the number of shares on issue,with no incentive to be profitable.

[sb9]

SP will be $5 soon - that's clear enough.

Big wall being put up at that level, let's see how long it'll take to knock that off....days, weeks or months?

[Snow Leopard]

The situation here reminds me of the movie "Up in the Air".

One of my favourite movies of all time :t_up:

Looks like Serko is going to be one of favourite shares this week :t_up:

[Leftfield]

SKO $10 mill retail share purchase offer details. See here. (https://www.nzx.com/announcements/361064)

Call me crazy but I'm not sure that I'll be taking up this offer (just my gut feeling at the mo'.)

[yuj4]

conspiracy game lol. I used to trust the company and strategy however new tech such as zoom meeting for corporate conference is taking up will be heavily disadvantage corporate travel since covid incident. I highly doubt serko will be using the fund to expand rather than 'surviving'

[RupertBear]

SKO $10 mill retail share purchase offer details. See here. (https://www.nzx.com/announcements/361064)

Call me crazy but I'm not sure that I'll be taking up this offer (just my gut feeling at the mo'.)

I am with you Left Field, dont think I will take up the offer, I will just wait and see how things pan out. My gut feeling tells me this may well go back down. Not scientific I know but it has served me well so far with this one ;)

[calledone]

conspiracy game lol. I used to trust the company and strategy however new tech such as zoom meeting for corporate conference is taking up will be heavily disadvantage corporate travel since covid incident. I highly doubt serko will be using the fund to expand rather than 'surviving'

I have the same feeling. I really like this company and I've made some good gains from this in the past but now I'm going to wait and see.

[sb9]

SKO $10 mill retail share purchase offer details. See here. (https://www.nzx.com/announcements/361064)

Call me crazy but I'm not sure that I'll be taking up this offer (just my gut feeling at the mo'.)

Likewise, will probably pass the SPP this time. Last cap raise was at $4.04 in Nov'2019 when things were all hunky dory and to think they want $4.55 now in the current environment, I find it really hard to digest.

[rayonline]

Maybe I would pass also this time. I did buy some in April this year @2.10.

[CraftyBeer]

Agree with the sentiment - likely to pass on the SPP this time. Just seems too high at this time in a sector that is going to take a while to recover and has changed considerably with increased comfort of online meetings.

[t.rexjr]

I'm not sure many ^^ quite have a grasp on this industry...

[tango]

I'm not sure many ^^ quite have a grasp on this industry...

Tell us what you think ^^ are not understanding!

[lerbert]

I applied for $15K in the Oct/Nov 2019 issue and was heavily scaled back.

Like other members I am considering the current $4.55 issue carefully.

On 1 Oct Darrin Grafton CEO said “our Travel Management Company and reseller partners” have created “inbound demand” as they “consider, plan and request accelerated timetables to onboard new customers, deliver new features and expand existing partnerships”.

This is all gobbledygook to me. Does anyone know what it means? Is there anything tangible behind it?

[Leftfield]

FWIW I've taken my 80% gains off the table and sold my remaining SKO. With record Covid levels in the Northern hemisphere the travel headwinds are growing, although I suspect the SP will be massaged in the short term during the Cap Raise.

[calledone]

FWIW I've taken my 80% gains off the table and sold my remaining SKO. With record Covid levels in the Northern hemisphere the travel headwinds are growing, although I suspect the SP will be massaged in the short term during the Cap Raise.

With 80% of Serko's revenue coming from the southern hemisphere and with any new major lockdown looking unlikely in AU/NZ I think the SP might not see a major pullback. My biggest concern is how much of the disruptive tech Serko brought to the industry has been disrupted by all the new online solutions for meeting virtually. Coming from a tech background, I think the technology for meeting virtually is only going to get exponentially better in the next 5 to 10 years.

[pierre]

FWIW I've taken my 80% gains off the table and sold my remaining SKO. With record Covid levels in the Northern hemisphere the travel headwinds are growing, although I suspect the SP will be massaged in the short term during the Cap Raise.

Pretty good massaging today - up to 495.

I hope many holders decide to pass on this opportunity. I'm going to apply for the $50k maximum and would like to get the lot.

[Leftfield]

Pretty good massaging today - up to 495. I hope many holders decide to pass on this opportunity. I'm going to apply for the $50k maximum and would like to get the lot.

Good on you Pierre. Be boring if we all thought the same.

FWIW I posted this on the HLG thread today. Not exactly relevant but interesting IMO.




Back in 2017 in an interesting coincidence, three different companies spiked my attention and I placed them in my watch list.

The following chart shows the % cap gains returns since (if you add in the HLG divs it reaches about 100% gain... roughly speaking. )




Date In
In SP
Current SP
# Weeks
% gain


HLG
1/12/17
$3.56
$6.00
150
68%


SKO
2/10/17
$0.64
$4.87
158
660%


PLX
1/10/17
$0.175
$1.56
158
791%



.

[sb9]

Pretty good massaging today - up to 495.


More massaging today may push the price into $5s...

[Everwood]

About 250,000 shares that were on offer at $5, have been gobbled up

[t.rexjr]

More massaging today may push the price into $5s...

That was a solid takedown of the $5 wall. The trouble with this stock is they're hard to buy in any quantity. All those corporates itching to get back on the road... and the insto's know it...

[sb9]

That was a solid takedown of the $5 wall. The trouble with this stock is they're hard to buy in any quantity. All those corporates itching to get back on the road... and the insto's know it...

And some...5.30 now, makes the SPP offer interesting for us retail pups :confused:

[tango]

And some...5.30 now, makes the SPP offer interesting for us retail pups :confused:

I’m still undecided about the future of travel. It looks to be an excellent world leading product. A potential recession and increases in the use of online meeting tools and the possibility that there is never an effective vaccine make me nervous. I’m still holding but buying more seems a gamble. Only the price makes it attractive

[daveypnz]

I view corporate travel the same way I view leisure travel and human nature in general. We can talk to our friends on zoom but most of us still go to the restaurant or pub regularly because humans enjoy human company. We can watch travel vlogs on youtube all day but we still hop on that plane (when we can) and create our own memories. My belief is that is the same with business travel, sure zoom will replace some low level meetings permanently but there is nothing like real human interaction, especially when dealing with other cultures and significant business deals. For most, travel is a perk of the job and good for morale - zoom meetings get tedious real fast.

[sb9]

I view corporate travel the same way I view leisure travel and human nature in general. We can talk to our friends on zoom but most of us still go to the restaurant or pub regularly because humans enjoy human company. We can watch travel vlogs on youtube all day but we still hop on that plane (when we can) and create our own memories. My belief is that is the same with business travel, sure zoom will replace some low level meetings permanently but there is nothing like real human interaction, especially when dealing with other cultures and significant business deals. For most, travel is a perk of the job and good for morale - zoom meetings get tedious real fast.

Nicely summed up and agree 200%. Human being is a social animal and would always aspire for personal interaction as much as possible and business travel and dealings are no different.

[tango]

Mediaworks to enter digital travel booking spearheaded by Cam Wallace ex Air New Zealand.
I'm not sure how this fits with the core competencies of Mediaworks

https://www.nzherald.co.nz/business/cam-wallace-named-new-mediaworks-boss/4KMMVI5RJNO6SH62WQ7X7ZSWTQ/

[tango]

I view corporate travel the same way I view leisure travel and human nature in general. We can talk to our friends on zoom but most of us still go to the restaurant or pub regularly because humans enjoy human company. We can watch travel vlogs on youtube all day but we still hop on that plane (when we can) and create our own memories. My belief is that is the same with business travel, sure zoom will replace some low level meetings permanently but there is nothing like real human interaction, especially when dealing with other cultures and significant business deals. For most, travel is a perk of the job and good for morale - zoom meetings get tedious real fast.

On the whole I agree, but I feel like some companies will be cutting back on costs and I have noticed that some of my friends have been hibernating at home and not socialising as much as they used to - a hang over from lockdown. They are mainly 55+ years old and perhaps feel more at risk of sickness but the mental health implications of lockdown are significant. Mostly this will affect leisure travel rather than corporate travel. My feeling is corporate travel will be back to 80% of previous levels. I don't see it going back to 100%. Just my opinion. No one really knows

[Snow Leopard]

Tried to put in for the SPP, just one paws worth, via my online broker but so far it has become a Support call :mellow:
12022
natural snow shoes (https://www.snowleopard.org/snow-leopard-facts/physical-features/)

[Timesurfer]

Tried to put in for the SPP, just one paws worth, via my online broker but so far it has become a Support call :mellow:

The depth of demand does seem to be more than a ramping for the benefit of the SPP, but I guess time will tell.
I was tempted to trade a few for some SPP to reduce the residual loss ASB keeps reminding me of. But probably I’ll just end up adding a few more.

[tango]

Tried to put in for the SPP, just one paws worth, via my online broker but so far it has become a Support call :mellow:
12022
natural snow shoes (https://www.snowleopard.org/snow-leopard-facts/physical-features/)

You need to do some fancy footwork!
Can't you apply directly on the share offer website?

[Snow Leopard]

You need to do some fancy footwork!
Can't you apply directly on the share offer website?

Far too busy:
12024

Actually the shares are held on a brokerage account.

[tango]

Far too busy:
12024

Actually the shares are held on a brokerage account.

They should email you with their recommendations so you will be fine. Get those paws tapping and transfer the money and you'll be sweet!
I'm still trying to decide whether to add to my holdings. I have a couple of days to decide...

[Snow Leopard]

They should email you with their recommendations so you will be fine. Get those paws tapping and transfer the money and you'll be sweet!
I'm still trying to decide whether to add to my holdings. I have a couple of days to decide...

It is a long story, and gets longer the more I tell it.
But to cut it short the broker form either takes you into either a Moebius journey or an Escher experience:
https://www.art-madrid.com/image/pGsFJorLRonHWRabn/0/escher-noticias1.jpg
Hence the support call.

But hopefuly the story will end with 'and they all lived happily everafter.'

[tango]

It is a long story, and gets longer the more I tell it.
But to cut it short the broker form either takes you into either a Moebius journey or an Escher experience:
https://www.art-madrid.com/image/pGsFJorLRonHWRabn/0/escher-noticias1.jpg
Hence the support call.

But hopefuly the story will end with 'and they all lived happily everafter.'

You might have to sharpen your claws!
Good luck

[pierre]

SKO Share Purchase Plan closed today - results announced Monday 26th.

Looking forward to +/- 10% gain on the purchase (depending on how the SP holds up) and hope I get all I applied for.

If scaling is involved will have to decide where to invest the returned cash - OCA, PEB or BLT? Definitely wont be in a Heartland TD!

[tango]

SKO Share Purchase Plan closed today - results announced Monday 26th.

Looking forward to +/- 10% gain on the purchase (depending on how the SP holds up) and hope I get all I applied for.

If scaling is involved will have to decide where to invest the returned cash - OCA, PEB or BLT? Definitely wont be in a Heartland TD!

I didn’t apply for the full $50k
I am still unsure about the future of business travel
I’m not expecting scaling and I expect the share price to drop when people dump their shares

[RGR367]

Applied only for some as I believe I already have more than enough of it at this time. It's going to be a long play until a CoVid19 vaccine is available but gut feel says this is going to be another story much like XRO and ATM for me :cool: The price should hover pretty much around spp price to keep holders interested.

[tango]

Applied only for some as I believe I already have more than enough of it at this time. It's going to be a long play until a CoVid19 vaccine is available but gut feel says this is going to be another story much like XRO and ATM for me :cool: The price should hover pretty much around spp price to keep holders interested.

Mirrors my thoughts. Lots of potential, but too many unknowns. Also have to factor in that zoom is so much better than it used to be. With the ability to have breakout rooms it’s excellent for internal company meetings.

Software for virtual conferencing has also improved a lot.

Serko has a moat in terms of the software but the industry is uncertain.

If I was planning to flip some I would have gone for the whole $50,000 but I only applied for the amount that I want to keep. I’m already very heavily invested in software companies that have more certain futures …

[Leftfield]

I didn’t apply for the full $50k
I am still unsure about the future of business travel
I’m not expecting scaling and I expect the share price to drop when people dump their shares

Strangely even tho' I sold my SKO, I still received an email saying I was eligible to participate in the cap raise!? ( I guess it was a timing thing.) I still chose not to participate.

That said, I think SKO has a great product and exciting place in the travel industry. I wish it well and expect to be back when the timing is right and/or when Covid is just a memory. GLH.

[tango]

Strangely even tho' I sold my SKO, I still received an email saying I was eligible to participate in the cap raise!? ( I guess it was a timing thing.) I still chose not to participate.

That said, I think SKO has a great product and exciting place in the travel industry. I wish it well and expect to be back when the timing is right and/or when Covid is just a memory. GLH.

I also think SKO has a great product and I spent a lot of time researching before deciding to invest more $$$

Partnership with booking.com is a positive. I checked into BKNG financials and felt they would survive coronavirus
Fisher Funds are bullish on SKO and believe the moat is intact
An analysis of market size (YouTube video below) showed a huge addressable market. I believe his predictions are massively optimistic. Zoom breakout rooms are awesome, online virtual conferences are the way of the future and I expect them to grow. But, even if you halve the estimates it's a large addressable market
Auckland airport are forecasting 2 years for domestic travel to recover, 3 years for international travel to recover
Air New Zealand say international travel may not return to former levels in the foreseeable future
The approval of remdesivir for treatment of coronavirus will help raise confidence in travel (even though the benefits are thought to be mild)


Overall, I decided the long term prospects are strong. The offer price was a sticking point. I think $4.55 is fair market value right now. I don't think it represents a discount on fair market value. I know the shares are selling for 10% more but I think the vaccine is a long way away. That's why I didn't go for the whole $50k. I don't have enough conviction to throw that money in when there are other opportunities out there. Plexure Aussie IPO could be a nice Christmas present

https://www.youtube.com/watch?v=dgOZ0wojigk

[Timesurfer]

Depth of support looks like it might be tested in the immediate future.
I cashed up some earlier and invested back into the offer, with a few more for luck.

If the borders open up around the world I don’t anticipate it taking long to return some resemblance of business as usual. The novelty of attending meetings in your PJs has gotten pretty tiresome so although there will be a loss to video conferencing I can’t see it being a deal breaker. With a move for Zeno to cater to all aspects of travel booking I think the growth potential is still significant.

Disc still holding if not the same volume once held.

[tango]

I thought about selling down some shares to buy in at the lower price but I priced my shares too high so the order wasn’t filled.

I agree that when travel resumes Serko is in a good position but it could be a few years and who knows what will happen in the meantime. Maybe a competitor will have developed something better while they were stuck at home in their PJs !!!

[daveypnz]

https://www.stuff.co.nz/business/123172794/coronavirus-new-zealanders-commuting-to-meetings-via-8kanhour-private-jet

Interesting article, this sums it up for me:

“If you’re trying to close a multi-million dollar deal it’s a few thousand to get to your meeting and back again quickly.”
"Corporates were also entertaining clients by taking them to the likes of Queenstown instead of doing trips overseas."

While Zoom is great for taking care of mundane meetings, it will never cut it for attracting big clients and closing large deals.

[tango]

$10 million share offer
$25 million applied for
Oversubscriptions accepted. Total capital raised $20 million. Balance to be refunded

———-

OFFER: SKO: Share Purchase Plan Oversubscribed

Share Purchase Plan Oversubscribed

Serko Limited (NZX/ASX:SKO) ("Serko"), a leader in online travel booking and
expense management for the business travel market, is pleased to announce
that its NZ$10 million share purchase plan ("SPP") has closed oversubscribed.
The SPP received strong shareholder support with Serko receiving
applications totalling approximately NZ$25 million.
Serko has elected to accept NZ$10 million of oversubscriptions, bringing the
total amount of capital raised under the SPP to NZ$20 million.

Serko Chief Executive Darrin Grafton said: "We are delighted with the strong
support we have received for the SPP and the underwritten placement.
"The success of the capital raising is an endorsement of our strategy to move
more quickly on the opportunities arising from the changing business travel
market, including those that have emerged from the disruptions caused by the
COVID-19 pandemic.
"We are now even better placed to help our resellers, partners and business
customers worldwide to manage this disruption and help them prepare for a
recovery.
"Serko has elected to accept oversubscriptions to take advantage of the
growth opportunities available and, in so doing, we have reduced the need to
scale our supportive retail shareholders", Mr Grafton said.
Applications will be scaled on a proportionate basis in accordance with the
number of Serko shares held by applicants on the Record Date (30 September
2020). Refunds of the surplus application amount paid will be made to
applicants on or before 5 November 2020.
The SPP was offered to all eligible existing Serko shareholders with a
registered address in New Zealand or Australia, enabling them to each apply
for up to NZ$50,000 / A$46,500 of new Serko shares. The new shares under the
SPP will be issued at the same price as the Placement of NZ$4.55.
The SPP is part of Serko's equity raising initiative announced on 1 October
2020, whereby Serko also undertook a fully underwritten placement of NZ$47.5
million of new shares.
Settlement of the SPP is expected to occur on 28 October 2020 and 29 October
2020 for the ASX and NZX respectively, with allotment of all shares on 29
October 2020. Trading of the SPP shares is expected to commence on NZX on 29
October 2020 and on ASX on 30 October 2020.
The new shares to be issued under the SPP will rank equally in all respects
with Serko's existing ordinary shares.

[pierre]

Great result for SKO. Plenty of cash in the bag - now all they have to do is find profitable ways to use it. Looks like instos and retail investors are backing them strongly to do just that.

[tango]

I applied for less shares than I currently own.

I expect there will be some people who applied for a lot more shares than they currently own so I think I will get all that I applied for. It will be interesting to see the results of the scaling...

[tango]

Great result for SKO. Plenty of cash in the bag - now all they have to do is find profitable ways to use it. Looks like instos and retail investors are backing them strongly to do just that.

There's also nowhere else for cash to go in this environment unless you want to tuck it under your mattress.

The announcements from Fauci and Oxford on vaccinations are promising. Hopefully my investment pays off sooner rather than later

[daveypnz]

Also on a somewhat related note, does anyone watch JRE? The episodes where his guests are on Skype rather than in studio are nowhere near as good.

[tango]

Also on a somewhat related note, does anyone watch JRE? The episodes where his guests are on Skype rather than in studio are nowhere near as good.

Graham Norton and the other chat shows don’t work as well on zoom. There will always be a market for business travel. The questions are when will it resume and are there some types of business travel that won’t return or will drop off significantly, even when we have a “normal” world

[tango]

Allotment today. Looking forward to seeing if I got my full application. Given the way the sharemarket is going right now and rising world COVID 19 cases I’m pleased I didn’t put in for the whole $50,000. I am keeping money free for investing in other companies when they come on sale

[tango]

Has anyone got their allotment? I checked link market services and can’t see my new shares

[pierre]

Has anyone got their allotment? I checked link market services and can’t see my new shares

Just checked LMS - nothing here yet either.

[tango]

Just checked LMS - nothing here yet either.

I was beginning to worry my allocation had gone missing but obviously LMS are having issues. Allotted Shares are meant to trade today on NZX so there must be a delay

[pierre]

I was beginning to worry my allocation had gone missing but obviously LMS are having issues. Allotted Shares are meant to trade today on NZX so there must be a delay

It must be an extremely difficult task working out the scaling - still nothing showing in the LMS system.

I think we'd better send them a new abacus.

[tango]

It must be an extremely difficult task working out the scaling - still nothing showing in the LMS system.

I think we'd better send them a new abacus.

:-)
They must have run out of fingers. Either that, or Serko is debating accepting all of the oversubscriptions after news of further lockdowns in Europe

[pierre]

All sorted - the allocations are in LMS now.

I applied for $50k and got the lot - no scaling here.

I wonder if they'll refund the 5cents left over.:eek2:

[tango]

I got 100% of what I applied for as well, which I expected given that I only applied for $27K and I have a substantial holding

[tango]

I suppose it could have been worth applying for the full $50,000 given the 10% discount but I was forecasting more lockdowns and the possibility of a market correction in the near future

[CraftyBeer]

I ended up going for a few too and received them all - expected similar scaling to last time but happy to have topped up a little. I'm still expecting this one to be choppy for a while yet.

[RRR]

ASB nominees have informed me that I have been allocated $25 k worth of shares I applied for, so no scaling for me too..

[whatsup]

ASB nominees have informed me that I have been allocated $25 k worth of shares I applied for, so no scaling for me too..

With the over subscriptions applied , I would say that all SPP's were satisfied, great result for SKO as they now have no excuses to succeed.

[Timesurfer]

With the over subscriptions applied , I would say that all SPP's were satisfied, great result for SKO as they now have no excuses to succeed.

The instos or insiders obviously agree with you.
UK in lockdown and Europe in shambles, travel isn't going to be a free for all any time soon so it would seem we are trading potential.

[tango]

The instos or insiders obviously agree with you.
UK in lockdown and Europe in shambles, travel isn't going to be a free for all any time soon so it would seem we are trading potential.

Yep. Banking on some sense of normality in 12-24 months.

[Timesurfer]

A take over in the offing?
Or someone knows something about the travel industry that I don’t?

[daveypnz]

A take over in the offing?
Or someone knows something about the travel industry that I don’t?

Promising vaccine news, all travel stocks are up.

[Timesurfer]

Promising vaccine news, all travel stocks are up.

I see. Planes on the scrap heaps and staff all laid off - probably not going to be an over night fix even if they can mass produce the vaccine to cure the world.
I really like this company but trading close to pre COVID highs - too rich for me at the moment.

[sb9]

Unbelievable run this one having of late...:t_up:

[Timesurfer]

Unbelievable run this one having of late...:t_up:
What do you think ... someone making a play?

[sb9]

What do you think ... someone making a play?

Can't help but wonder something's in play in the background, seems as though big demand coming from across the ditch which is evidenced by trades once ASX opens. I think SKO, PLX and IKE are in big tech flavour with Aus Fundies are the ones to watch in 2021.
Now the mln $ question is which one of these will become next XRO and over what time period?

[Timesurfer]

I'd agree. My money is currently on IKE because I figured SKO would stall in the immediate future (oops). However, I left the kids portfolio in SKO as I am working on a different time frame.
On the bright side switching a chunk of my SKO into VUL on the asx has me well positioned.

[sb9]

Oof...some eye watering numbers in their HY statements...

[Balance]

Oof...some eye watering numbers in their HY statements...

No surprises in there, sb9 from what I can read.

[sb9]

No surprises in there, sb9 from what I can read.

For sure, gotta take my hat off for them to have raised fresh capital at $4.55 a piece. Underwriters must've a very compelling strategic reason to have subscribed to that.

[trader_jackson]

Crazy how this thing trades with over $600m market cap with operating revenue for FY21 probably only around $10m... that is one high price to revenue ratio for a company going backwards and arguably with quite an uncertain future! At least they have extended the runway a bit to have enough cash to last them about 2 more years (assuming average cash burn of $3.75m per month, at the higher end of the $2-$4m indicated)

[calledone]

Interesting view from Bill Gates.
https://www.cnbc.com/2020/11/17/coronavirus-bill-gates-says-more-than-50percent-of-business-travel-will-disappear-long-term.html

[Leftfield]

People in the know lightening their holdings? See here (http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/SKO/363673/335672.pdf).

Warning signals ahead IMHO.

[calledone]

People in the know lightening their holdings? See here (http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/SKO/363673/335672.pdf).

Warning signals ahead IMHO.

The reason given earlier was for relationship property matter. But I'm surprised Darren has not bought back when the SP took a dive earlier this year after selling a large portion last year. He still holds a good chunk though.

Going forward, I'm still wary of the business travel industry as a whole. Will wait and see what happens in 2021.

[sb9]

Whatever may be the outlook for business travel in ensuing future time period, I'm really taken back by the demand for the stock especially from the AUS side of things. Will see how this plays out...

[sb9]

Positive news around vaccine and airline stocks rallying along with overall market sentiment, wouldn't be surprised to see if this one breaches $6 mark soon.

[Timesurfer]

Multitude of vaccines on the way, and people over virtual meetings (https://governmentnews.co.nz/featured/face-to-face-meetings-back-on-the-agenda/) so SKO might be in the money sooner than I budgeted.

[tango]

Serko is looking good. There should be another bounce with the trans-Tasman and Cook Is bubbles confirmed for sometime in Q1 2021

[BlackPeter]

Serko is looking good. There should be another bounce with the trans-Tasman and Cook Is bubbles confirmed for sometime in Q1 2021

You could as well argue that the expectation for travel to come back to pre Covid levels next year is already fully priced in given that SKO SP is already now on pre-Covid levels.

So far I think that this expectation is pretty optimistic :): People will travel less in the years to come, even if the borders start to re-open in the second half of next year.

[tango]

You could as well argue that the expectation for travel to come back to pre Covid levels next year is already fully priced in given that SKO SP is already now on pre-Covid levels.

So far I think that this expectation is pretty optimistic :): People will travel less in the years to come, even if the borders start to re-open in the second half of next year.

Maybe but there’s a lot of people champing at the bit to travel. It surprises me

[mfd]

In my public sector department, I have been told travel (even within New Zealand) is currently off the table. I'm told that the Covid experience has shown management we have other ways of doing things, and stopping travel is a useful cost saving.

No idea how widely this is being replicated, just a little anecdote.

[haewai]

Same here. Organisation of 700 FTE. Budgets are very tight and travel just isn't happening, nor will it for a long time. Makes for a lot of 1am to 4am meetings in my line.

[petty]

Couldn’t agree more. I haven’t invested in travel related companies. While I hope to be proven wrong I think that.
a) budget restrictions will restrict business related travel
b) a decision supported by a lot of resistant individuals and organisations adopting virtual tools
c) this has made the use of virtual meetings, training etc possible within and between organisations
d) COVID has improved the performance and uptake of virtual tools (zoom/teams/slack etc)
e) with the tools mentioned above people have learnt that spending more time at home with family brings additional benefits and will be reluctant to revert to old ways of doing things

For these reasons I don’t see a quick return to the old normal and am thus staying away.

in fairness the contrarian view could be made that.

a) COVID has created a Yolo effect
b) recreational travel will significantly increase post COVID due to Yolo effect, catching up on lost time and people wanting to spend the increase in wealth generated over this price to due house price increases etc.

[tango]

I was originally very pessimistic on post COVID 19 travel which is why I didn’t apply for the full $50,000 in the SPP. However, I see plenty of companies planning conferences and events and also I think the booking.com partnership has value.

I’m on the fence. Personally, I won’t be travelling until this coronavirus has been beaten. I want to wait but plenty don’t see anything to worry about and are ready to hop on planes and do deals in person.

I love zoom but it can’t replace everything. We aren’t at the stage where a family trip to the Gold Coast or Disneyland can be replaced by zoom or VR. Plenty of business meetings and conferences can be done via video conferencing, as we have seen, but some sales calls and meetings will need the personal touch. There’s also something about being in a room with other people that we as humans need - that personal connection

I think software companies like Serko have a future. I wouldn’t be rushing into buying into cruise ships. I think both industries are permanently going to lose around 20% of their clients, but a software company can cope with that better than a company that needs to invest bin maintaining ships

[Timesurfer]

I think software companies like Serko have a future. I wouldn’t be rushing into buying into cruise ships. I think both industries are permanently going to lose around 20% of their clients, but a software company can cope with that better than a company that needs to invest bin maintaining ships

SKO is in a position to turn a profit quicker than a lot in the travel and tourism space by clipping the ticket across the board.
I hear a lot of people over the virtual space but then as pointed out companies faced with budgetary haircuts won't be flying as many people around the globe as before in the immediate future.
However, when you have people queuing up to sit in aircraft simulators for 8-9 hours at a time ... never underestimate the collective IQ.

[mfd]

I've never held Serko, but I was under the impression they are only involved in Corporate travel? So, it doesn't matter how much people want to go on holiday, it just matters how much companies are willing to spend sending their people around the globe again.

[tango]

I've never held Serko, but I was under the impression they are only involved in Corporate travel? So, it doesn't matter how much people want to go on holiday, it just matters how much companies are willing to spend sending their people around the globe again.

Yes, that's true but company paid holidays are a perk for many. It's an incentive offered for sales agents who meet targets and long service as well as annual conferences in exotic locations which are really a fancy name for a holiday but they throw in a few speakers to make it seem legit.

I think it's going to vary by country and industry. Some countries will embrace online meetings and others won't want to miss pressing the flesh and boozing with clients and coworkers in foreign lands - or local. Corporate travel booking services are also used for planning trips and conferences to bring everyone together from the same country.

As I said before I think corporate and pleasure travel won't return to previous levels but I could easily be wrong

[tango]

SKO is in a position to turn a profit quicker than a lot in the travel and tourism space by clipping the ticket across the board.
I hear a lot of people over the virtual space but then as pointed out companies faced with budgetary haircuts won't be flying as many people around the globe as before in the immediate future.
However, when you have people queuing up to sit in aircraft simulators for 8-9 hours at a time ... never underestimate the collective IQ.

HAHA yes the collective IQ

And people queuing up to be served a meal on a grounded plane
https://www.marketwatch.com/story/diners-are-paying-up-to-236-to-eat-meals-on-grounded-planes-11602601284

[Everwood]

Big rise in Serko share price today and a new high. Does someone know something that hasn't been announced to the markets?

[sb9]

Big rise in Serko share price today and a new high. Does someone know something that hasn't been announced to the markets?

Could be due to trans tasman and cook island travel bubble and general vaccine related news...

[CraftyBeer]

Could be due to trans tasman and cook island travel bubble and general vaccine related news...

Could be but other travel stocks (AIA, AIR) fell yesterday so a one-day 33c rise for SKO is a big leap. Reminds me of the unusual jump in BGP the other week just before they announced their special divvie so will keep an eye out next week to see if SKO has some news we're not aware of yet (but the market is...)

[sb9]

Could be but other travel stocks (AIA, AIR) fell yesterday so a one-day 33c rise for SKO is a big leap. Reminds me of the unusual jump in BGP the other week just before they announced their special divvie so will keep an eye out next week to see if SKO has some news we're not aware of yet (but the market is...)

Perhaps some new strategic announcement involving Booking.com??

[BlackPeter]

Could be but other travel stocks (AIA, AIR) fell yesterday so a one-day 33c rise for SKO is a big leap. Reminds me of the unusual jump in BGP the other week just before they announced their special divvie so will keep an eye out next week to see if SKO has some news we're not aware of yet (but the market is...)

Well, one thing is sure - it won't be a special divvie :):

[daveypnz]

I bought a large pile @ $5.70 yesterday. I'm always amazed this company doesn't get talked about more, it has the strongest bull case of any company on the NZX imo. If they continue expanding into North America and Europe, the runway is huge and with a market cap of ~600M the share price has plenty of legs left.

I know you can make a bear case that covid will linger, corporate travel will never return to previous levels etc but the risk/reward ratio for Serko is incredible imo.

[Cadalac123]

I bought a large pile @ $5.70 yesterday. I'm always amazed this company doesn't get talked about more, it has the strongest bull case of any company on the NZX imo. If they continue expanding into North America and Europe, the runway is huge and with a market cap of ~600M the share price has plenty of legs left.

I know you can make a bear case that covid will linger, corporate travel will never return to previous levels etc but the risk/reward ratio for Serko is incredible imo.

I think what people have an issue is with the worsening financials and the company being valuated at a higher market cap than before COVID which without a question disputed the business for the short-medium term. The possibilities of growth with this company are "amazing" on paper but you need actual proof of concept. The booking.com liaison helped but the company is still in it's somewhat early business stages.

Based on revenue and NPAT at this time the market cap isn't exactly a screaming bargain. Then again riding the uptrend which then eventuates in a takeover or something else is a possibility too.

[daveypnz]

Without a doubt, like all growth companies there is an element of risk. I just believe Serko provides a better risk/reward ratio than any other company on the NZX. Certainly it's not a screaming bargain but if you believe in the long term story that doesn't matter too much.

The company has more cash than it did pre-covid after the well timed cap raise a few months ago. Darrin Grafton is an excellent CEO and I love the direction he's steering the company in:

“We actually increased our full-time employee count from 232 to 240,” Grafton says.

“There’s going to be so many opportunities for technology that manages risk, compliance, cost savings, expenditures – all of that will become spotlight. So we need the people to drive that.”

In September, Serko raised another $36.4 million to gear up for future growth – buoyed by corporate travel recovering to 86% of pre-pandemic levels in New Zealand and overall travel recovering to 50% in Australia and New Zealand, according to Grafton.

Serko has hired about 50 people this fall and plans to add another 100 by next May – some slated to work on things such as AI-based solutions and disruption management tools for airlines, and others available to work on “the unknown ... the things we haven’t even thought of yet.”

“We will probably end up with the largest travel tech team in the world,” Grafton says.

“We haven’t stopped executing. We’ve 100% remained realistic about the crisis and what we have to do and the cost control. We communicate clearly. We’ve said, ‘We are going to burn up to NZ$2 million a month.’ And then we told people even when we raise money, we are going to increase that burn because we still see more and more opportunities through this and eventually it will balance out and we can get through 2024 with that model.”

[sb9]

When the pent up travel demand come back pre-COVID levels either in 2021 or 2022, this will very easily be $20 or $25, yes you call me an upramper for that call.
My pick is Darrin looking this one to take off like another XRO story and they’ve Instos backing their cause.

[daveypnz]

When the pent up travel demand come back pre-COVID levels either in 2021 or 2022, this will very easily be $20 or $25, yes you call me an upramper for that call.
My pick is Darrin looking this one to take off like another XRO story and they’ve Instos backing their cause.

Keep in mind, Serko only does corporate travel at the moment - I don't think they will benefit as much from pent up travel demand as much as airlines, cruiselines etc will. I see a more gradual return with corporate travel but as I mentioned Serko has barely scratched the surface in the international market.

Interesting though that Darrin mentioned he's employed people to work on things such as disruption management tools for airlines, they could clip the ticket on leisure travel if they make something of it.

[sb9]

Keep in mind, Serko only does corporate travel at the moment - I don't think they will benefit as much from pent up travel demand as much as airlines, cruiselines etc will. I see a more gradual return with corporate travel but as I mentioned Serko has barely scratched the surface in the international market.

Interesting though that Darrin mentioned he's employed people to work on things such as disruption management tools for airlines, they could clip the ticket on leisure travel if they make something of it.

Sure, was meant corporate travel not general travel by people. And Darrin did mention somewhere that their team is working on whole suite of tools outside travel like expense management etc..so when things do return close to or normal levels, they take off like Phoenix...

[CraftyBeer]

I will own up to being a bit overly focused on the travel booking/expense reporting side of this business rather than appreciating that they are building a comprehensive travel solution that can help everyone in the travel business - from airlines to accomm providers to (potentially) government compliance agencies like customs, MPI, health etc. For example, companies will likely need to ensure employees are vaccinated prior to booking/approving travel so there will probably be a cross-over with HR systems in terms of recording health status etc. Hotels may also want to know in advance that people staying with them have been vaccinated. Covid has increased the complexity of travel but that complexity also provides an opportunity for smarter solutions, such as those offered by Serko.

[sb9]

On the back of International / Business Travel not looking to come back anytime soon and borders not being eased this year, have lightened up my holdings bit more to take risk off the table.

[Leftfield]

On the back of International / Business Travel not looking to come back anytime soon and borders not being eased this year, have lightened up my holdings bit more to take risk off the table.

Wise precaution.

However must say SKO's continued strength has surprised me and bodes well for the company in a non-covid when travel restrictions are lifted. Their next financials are going to be crucial.

That said, I took my profits off the table and got out some time ago. I remain happy to watch from the sidelines. GLH.

[sb9]

Wise precaution.

However must say SKO's continued strength has surprised me and bodes well for the company in a non-covid when travel restrictions are lifted. Their next financials are going to be crucial.

That said, I took my profits off the table and got out some time ago. I remain happy to watch from the sidelines. GLH.

Yes, even I'm surprised by the strength of SKO's sp in light of current environment. I still hold about 60% of my original holding which've lighter av cost hence big safety net.
I do not expect next set of financials to be that great, however as long as Booking.com is in foray, there might be a play by them at some stage.

[sb9]

This is one heck of a stock, what resilience nearly on course to $6...

[daveypnz]

Missed the bottom after the first level 3 scare but managed to get a small parcel @ $5.40.

The company keeps making moves that will show on the balance sheet in due course, they are bringing on a ton of new employees as well.

This was a great listen: https://open.spotify.com/episode/2YlsCehpH4edGZgRJcerMq?si=A12boScVSwmMBZ1gohzLhQ&nd=1

Darrin @ 18:09 "We look for acquisitions and say, if you're joining us, we're on a vision to build a multi billion dollar business so you can come in now and you can be part of that story, so we'd rather give you stock than cash because with cash you're gonna lose the upside. If you actually believe in your journey with us then why not take stock?"

[BlackPeter]

Missed the bottom after the first level 3 scare but managed to get a small parcel @ $5.40.

The company keeps making moves that will show on the balance sheet in due course, they are bringing on a ton of new employees as well.

This was a great listen: https://open.spotify.com/episode/2YlsCehpH4edGZgRJcerMq?si=A12boScVSwmMBZ1gohzLhQ&nd=1

Darrin @ 18:09 "We look for acquisitions and say, if you're joining us, we're on a vision to build a multi billion dollar business so you can come in now and you can be part of that story, so we'd rather give you stock than cash because with cash you're gonna lose the upside. If you actually believe in your journey with us then why not take stock?"

A friend of mine worked for a similar start up. He got plenty of stock options. When they closed down a couple of years later the employees paid with their own money for a T-shirt for everybody saying "I dreamt to be a millionaire, but all I got was this lousy T-shirt".

Just saying ... talk is cheap.

[daveypnz]

A friend of mine worked for a similar start up. He got plenty of stock options. When they closed down a couple of years later the employees paid with their own money for a T-shirt for everybody saying "I dreamt to be a millionaire, but all I got was this lousy T-shirt".

Just saying ... talk is cheap.

Yep, that's the nature of the game. So it's up to you whether you believe in the story or not, from the homework I've done, I'm a believer. I'm well aware I'm not investing in government bonds however.

[sb9]

Missed the bottom after the first level 3 scare but managed to get a small parcel @ $5.40.

The company keeps making moves that will show on the balance sheet in due course, they are bringing on a ton of new employees as well.

This was a great listen: https://open.spotify.com/episode/2YlsCehpH4edGZgRJcerMq?si=A12boScVSwmMBZ1gohzLhQ&nd=1

Darrin @ 18:09 "We look for acquisitions and say, if you're joining us, we're on a vision to build a multi billion dollar business so you can come in now and you can be part of that story, so we'd rather give you stock than cash because with cash you're gonna lose the upside. If you actually believe in your journey with us then why not take stock?"

Thanks for the link, Darrin is definitely the man.

Someone cleaned out a decent sized parcel last evening at close sitting on offer for 5.90 each. With Biden announcing the news about all Americans to have vaccinated by end of May, bodes well for their prospects in North America. Could well be on its way to 6 handle very soon.

[silu]

I think I'm going to go back to Serko with an albeit much smaller position than I had. I do not understand how the shareprice recovered so well but like ATM has shown me there's no need arguing with the market.

[silu]

I think I'm going to go back to Serko with an albeit much smaller position than I had. I do not understand how the shareprice recovered so well but like ATM has shown me there's no need arguing with the market.

and I bought my parcel on market. May as well start the trading today. It felt weird being on the sideline for so long having been a cheerleader since day dot.

[Balance]

Serko is one share which I put in the bottom drawer - and still happy to do so.

The company is well and truly positioned for maximum leverage to the global recovery to come post pandemic.

[sb9]

and I bought my parcel on market. May as well start the trading today. It felt weird being on the sideline for so long having been a cheerleader since day dot.

Good on ya, with Booking.com in the mix, there's always a calculated chance of corporate play here.

[daveypnz]

I think I'm going to go back to Serko with an albeit much smaller position than I had. I do not understand how the shareprice recovered so well but like ATM has shown me there's no need arguing with the market.

Good to have you back onboard.

Despite the obvious disruption, the company has still been making moves. More cash in the bank than pre-covid, Aus bookings were at around 50% of 2019 in December and NZ between 76-80% so that obviously helps a lot given that they're Serko's primary markets at the moment.

[sb9]

Cool and insightful conversation with Rod and Darrin in this media piece...

IPOs with Serko and Xero - Investment Fix Season 2 · Investment Fix (spotify.com) (https://open.spotify.com/episode/2YlsCehpH4edGZgRJcerMq?si=A12boScVSwmMBZ1gohzLhQ&nd=1)

[silu]

not related but I see a couple of Kiwi software companies getting snapped up for big money. https://www.stuff.co.nz/business/124520767/2-billion-payday-for-investors-in-seequent-and-vend

[sb9]

Looking to crack $6 mark...

[daveypnz]

This could rip if it can close above $5.95, pretty low volume though.

[sb9]

Always low volume with this stock, thinly traded due to tightly held registry.

The proposed two way travel bubble between AU and Singapore is a great sign, all we need now is for Tran-tasman travel bubble to crystalise.

[daveypnz]

Oosh, here's the rip! Lets see if it can hold.

[silu]

Glad I got back in.

[Everwood]

New high today.

[daveypnz]

https://www.nzherald.co.nz/business/travel-specialist-serko-says-transactions-nearing-pre-covid-levels/DD463VB4OLIZA5YJKC2TKGRAKA/

"We are also seeing daily transaction volumes reaching their highest rate since Covid started materially impacting Serko's travel volumes in mid-March 2020, and are pleased to note that some of this uplift is reflective of continued onboarding of new customers in Australasia despite the effects of Covid," Grafton said.

:t_up:

[whatsup]

Yes another ATH !!

[sb9]

Low volume at close on ASX pushed sp to A$ 6.05, equivalent of NZ$ 6.53..

[sb9]

Today’s announcement about Booking partnership us huge boost to Zeno platform. Bring on FY22 and all going to plan so could be well over $20 in couple of years time, unless Booking gobbles them up before that.

[daveypnz]

More good news: https://www.nzx.com/announcements/369654

Darrin is on the sharesies lunch money show tomorrow, hopefully might garner some retail investor interest.

edit: good timing sb9

[silu]

Today’s announcement about Booking partnership us huge boost to Zeno platform. Bring on FY22 and all going to plan so could be well over $20 in couple of years time, unless Booking gobbles them up before that.

This announcement made me double my holding yesterday. The more I think about it a vaccinated population probably can't wait to travel the planet for business again. Also with Zeno we can clip the ticket so many ways a significant uptake in transactions can make us very profitable.

[sb9]

This announcement made me double my holding yesterday. The more I think about it a vaccinated population probably can't wait to travel the planet for business again. Also with Zeno we can clip the ticket so many ways a significant uptake in transactions can make us very profitable.

Good on ya.


More good news: https://www.nzx.com/announcements/369654

Darrin is on the sharesies lunch money show tomorrow, hopefully might garner some retail investor interest.

edit: good timing sb9

Have watched the replay of that session last night, gotta love Darrin's passion for the business. And in answering to question about Booking acquiring Serko one day, said he honestly does not want to sell it up and keep this under Kiwi ownership and be inspirational to other aspiring tech entrepreneurs.

Nice one Darrin :t_up:

[Timesurfer]

$10 here we come. About now wishing I still had my Million at $10 stake.

[daveypnz]

Nice spike today, maybe some new sharesies investors onboard after yesterday lunch money chat? :t_up:

At every social event I've been to post covid there is always a plethora of Air NZ shareholders. When I tell them about Serko, they haven't got a clue what company I'm talking about.

[Everwood]

Nice to see $7 today!

Here is a link to Darrin Grafton recent interview that he did with two co founders of Sharesies
https://youtu.be/osT02DyZSqU

[silu]

Selling almost all of my ATM shares to get back into SKO has certainly been a great decision so far. And I won't sell my stake as easily as I did when Covid hit again.

[daveypnz]

Not Serko but related: https://www.stuff.co.nz/business/industries/124698839/business-travel-bounce-back-air-nz-says-corporate-bookings-have-defied-global-trends

Also a positive indicator for business travel worldwide post covid.

[silu]

Not Serko but related: https://www.stuff.co.nz/business/industries/124698839/business-travel-bounce-back-air-nz-says-corporate-bookings-have-defied-global-trends

Also a positive indicator for business travel worldwide post covid.

Thanks for sharing. Certainly mirrors what my mate at Air NZ accounts has said - domestically they are as busy as ever. Let's get NZ, Australia and our Pacific neighbours vaccinated asap!

[sb9]

Darrin in his discussion the other day on Lunch Money used a word "Zoom Fatigue". There's only so much you can do through video/online interaction, at the end of the day people would love to travel and meet others in person be it business, social or leisure. And there'll be big pent up demand for that once people can start travel with some degree of freedom around the world.

[sb9]

https://www.businesstravelnews.com/Technology/Frosch-to-Resell-Serko-Zeno

Frosch to Resell Serko's ZenoTravel management company Frosch has signed a deal to become a reseller of Serko's Zeno corporate travel booking and expense management platform. Frosch clients who opt in will be able to use Zeno in conjunction with Frosch's own proprietary technology to enable bookings that are "personalized to the traveler and the corporate policy," according to the companies.
With the deal, Frosch adds its name to the growing list of Zeno resellers, a roster that includes TMCs Connoisseur Travel (https://www.businesstravelnews.com/Technology/Serko-Continues-N-America-Push-with-Another-TMC-Zeno-Reseller-Deal), Ovation Travel Group (https://www.businesstravelnews.com/Technology/Serko-Adds-Ovation-as-Latest-Zeno-Reseller), Acendas Travel (https://www.businesstravelnews.com/Technology/Serko-Inks-Acendas-to-Resell-Zeno) and Luxe Travel Management (https://www.businesstravelnews.com/Technology/Luxe-Inks-Reseller-Deal-for-Zeno-ZS-Associates-First-to-Implement), the latter of which has been owned by (https://www.businesstravelnews.com/Procurement/Frosch-Acquires-Luxe-Travel) Frosch since early 2020. Serko also is a strategic supplier partner for the private sector business of purchasing organization Omnia Partners (https://www.businesstravelnews.com/Technology/Serko-Signs-Supplier-Partnership-with-Group-Purchasing-Giant).
Along with growing Zeno's distribution footprint, Serko also has rolled out enhancements to the platform as well, earlier this year adding new functionality (https://www.businesstravelnews.com/Technology/Serko-Adds-Zeno-Functionality-to-Support-Contact-Tracing-Mandates) to support Covid-19 contact tracing mandates in jurisdictions that have enacted such measures.
Frosch in February 2021 received an equity investment (https://www.businesstravelnews.com/Interviews/After-New-Investment-Frosch-and-TCG-Seek-Opportunities-in-a-Changed-Market) from Eagle Tree Capital in exchange for an undisclosed minority stake in the agency.

[silu]

Frosch is pretty big (Top 15 in the world) with over 2000 employees world-wide. Frosch also acquired Luxe Travel in 2020 who were already Zeno resellers so it seems they liked what they saw.

[silu]

Just read this and this stood out for me. IT specialists in this forum can probably tell us if this is just Microsoft corporate fluff speak.

https://itbrief.co.nz/story/the-sky-s-the-limit-serko-booking-com-bring-corporate-travel-to-life
The sky’s the limit: Serko & Booking.com bring corporate travel to life

"Booking.com’s corporate platform requires its own servers and Azure data centres - and not just because of the sheer size of the platform, but also to comply with GDPR.

This is a perfect system for Serko because the company can target update rollouts to specific markets as they are needed.

O’Brien says the company is now ’100% Azure’ and works with a Microsoft technical account manager every week to help Serko’s cloud team strengthen the platform.

After Serko’s successful trials of the Booking.com for Business platform across Germany, Ireland, and the United Kingdom, the company is now eyeing up a wider rollout. It also plans to leverage its Microsoft SaaS partner status to tap into new markets."

[Cricketfan]

Just read this and this stood out for me. IT specialists in this forum can probably tell us if this is just Microsoft corporate fluff speak.



Not exactly sure what you mean. They are moving to Microsoft data centres. Not fluff, just an under-the-hood change really.

[silu]

Not exactly sure what you mean. They are moving to Microsoft data centres. Not fluff, just an under-the-hood change really.

Thanks I only really wanted to know whether this was normal progression for Serko or whether this had something to do to be more integrated with booking.com

[silu]

How on earth did the ASX allow trades in Serko from yesterdays close at 619 at 503 today?

[Kimster]

I cheekily have put in for a few hundred shares at the significantly lower price currently trading at NZX. Sharesies allow holdings at both ASX and NZX - so lets see what happens

[silu]

Nothing we didn't expect in this report as far as I can see
https://www.directbroking.co.nz/DirectTrade/dynamic/announcement.aspx?id=5688161

[Ggcc]

Nothing we didn't expect in this report as far as I can see
https://www.directbroking.co.nz/DirectTrade/dynamic/announcement.aspx?id=5688161
Is this company really worth $720 million?? It’s a great company and I believe has a great future, but after these figures it should drop some in sp today

[calledone]

Nothing we didn't expect in this report as far as I can see
https://www.directbroking.co.nz/DirectTrade/dynamic/announcement.aspx?id=5688161

It's a bit worse than I expected since NZ and AU did not have many persistent lockdowns within our borders. I sense a pessimism in Darren's expectation of recovery to pre-covid times in the medium term even with the rollout of business customer migration for booking.com. I know people are getting tired of all these online meetings(I am) but I believe post covid, companies will continue to take advantage of these online platforms to cut travel expenses.

[silu]

In their market update here https://www.directbroking.co.nz/DirectTrade/dynamic/announcement.aspx?id=5640730 they mentioned it will towards the higher point of the forecasted 40-70% of pre-covid levels so with levels being at 73% they exceed that no?