Hopefully get some guidance as well. Not sure if they're obliged to announce quarterly until the ASX is their primary listing. But we'll see soon enough. Should here more about that ASX listing soon as well.
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Do you know how much of last years increase was down to the McDonalds contract renegotiation? Its been on my list of things to do- to look back and try work it out.
Once known one would have a true feel of organic growth as obviously the McD contract wont be renegotiated this year and provide such a big jump in earnings
FY22's revenue was $32.6m, the breakdown of that was:
Plexure: $26.2m
Task: $6.4m (only accounted for 6 months) - We could probably assume $12.8m for the 12 months.
Pro forma FY22 $39.4
FY23's revenue was $64.9m - FY22 Pro forma($39.4m) = $25.5m (64.7%) increase
Revenue breakdown:
Plexure: $47.8m - FY22($26.2m) = $21.6m (82.4%) increase on prior year
Task:$17.1m - FY22($12.8m) = $4.3m (33.5)% increase on prior year
McDonalds contract was a major factor in the increase, it dwarfs Task's revenue, but the important factor was that Task is quite a profitable division.
My estimate for FY24 would be somewhere around:
My FY24 revenue forecast is $81.2m is a 25% increase on prior year
Plexure:$59.8m (main contribution of 4 months added Mcdonald's revenue plus some added business generated.)
Task: $21.4m (expecting growth to be slightly slower than prior year. I gave them a 25% increase)
NPAT:$5m
Thanks for sharing Silver, the point about FY23 should probably also acknowledge that the Plexure contract with McD's was not a full year, which will flow into FY24 results, and continue for another four years, even assuming no growth (unlikely).
Interesting also to see a decent, if not massive, crossing on ASX today. Seems to be some growing interest across the ditch. More volume on ASX than NZX is not common. This will be important when TSK go fully onto ASK as the primary listing.
Once these Aussies, especially the instos, get a sniff of TSK, and they're on ASX as a primary listing, this could really get some tailwinds behind the SP. The quarterly with guidance exceeding FY23 could light a fire under the SP.
Best to have a position before all this unfolds, the downside is minimal risk whereas the upside is potentially rewarding.
GLTAH, I've got a few more lately but realistically I shouldn't get too carried away as I have a lot already, relative to overall portfolio. But it's sooo tempting to go over weight .. we all have our challenges to deal with.
TSK is a sleeper, now it's one of those 'she'll be right' stocks, but .. oh wait, then suddenly it's .. now it is right!, and the re-rate catches all the lurkers and watchers off guard, wondering why they didn't get some while the getting was good.
Yes thats atleast 4 more years of safety that they have the Mcdonald's contract, but they really need to use this time to diversify their revenue base by finding another big client or putting more resources behind task to make it equally as large. If Mcdonald's decided they no longer needed them the company would take a battering.
Currently they are more or less valued within their range until they prove to the market that they could be worth more. If they were show they are on track to achieve $5m NPAT for FY24 then they would be warranting a 56 cents per share with consistent growth they could get to $12m NPAT in FY25 and be worth $1.35 per share. Market needs confirmation of what revenues and profits to expect. If they were to sign a big client similar to Mcdonald's the market will start pricing in larger future revenues and the share price would really get moving.
Wasn’t this webinar going to cover task? seems like it’s not anymore?
Some time this month we will see the quarterly update. If things look good we will see a small spike in the share until half year figures. After the half year figures and if things are progressing as they should, we will never see below 50 cents possibly 60 cents again. Of course DYOR.