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Made Tech - Headcount rockets from 235 to 478

September 2022

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • MTEC
  • Price:
  • 31.25p
Having experienced difficulty in recruiting IT staff earlier in the year, Made has now turned the corner. It has just confirmed it has taken headcount to 478 up from last year’s 235. Importantly this was achieved without undue impact on expected profitability, with gross margin flat year-on-year at 38% and EBITDA margin rising to 9% from the prior year’s loss. Made also confirmed that sales for the year to end May are expected to be up 120% to £29.3m with significant progress in H2 (H1 £11.7m, H2 £17.6m). Gross margin was maintained at 38%, showing impressive resilience in the face of wage inflation. Pretax profit of £2.2m compares to a loss of £0.5m in FY21. Year end net cash was £12.3m.Contracted (multi-year) backlog stands ...

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