Jaywing (JWNG)

Sector:

Media

Index:

FTSE AIM All-Share

8.17p
   
  • Change Today:
    -0.58p
  • 52 Week High: 12.00
  • 52 Week Low: 7.25
  • Currency: UK Pounds
  • Shares Issued: 93.33m
  • Volume: 75,000
  • Market Cap: £7.62m

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Jaywing reports strong growth, announces possible acquisition

By Josh White

Date: Thursday 11 Aug 2022

LONDON (ShareCast) - (Sharecast News) - Marketing and data science company Jaywing said in a trading update on Thursday that its net revenue for the year ended 31 March was expected to have risen 16% to £23.3m, as it also announced the possible acquisition of Midisi.
The AIM-traded firm reported strong growth in retail, financial and professional services, and in Australia.

It said its new business wins and pipeline continued to be strong, with new client wins including Rush Hair and Beauty, Hallmark Cards, Cox Automotive, CityFibre and Skipton Building Society.

Combined with "careful cost management", Jaywing said that had enabled a "significant improvement" in underlying profitability, with adjusted EBITDA broadly in line with market expectations.

Jaywing also announced that it was in discussions with the shareholders of Midisi, a marketing software development business which owns the intellectual property rights for the 'Decision' software which Jaywing currently sells under licence, over the potential acquisition of Midisi.

The board said that, while discussions were ongoing over the terms of any acquisition and there could be "no certainty" as to the outcome, it expected that it would comprise a "substantial transaction" under the AIM rules.

Partly in anticipation of the potential transaction, and to provide further working capital, Jaywing said it had increased the headroom in its existing short-term finance facility by £1m, through a variation of the existing agreement with its lenders, DSC Investment Holdings and 1798 Volantis Fund.

If the Midisi acquisition is completed, that would cover the initial transaction costs, with subsequent payments funded out of the company's cash flows.

The firm also announced that it was in discussions with its lenders over potentially rescheduling the existing debt arrangements.

"I am pleased to report that Jaywing has entered the new financial year on the back of a strong outturn," said chief executive officer Andrew Fryatt.

"The combination of double-digit revenue growth and a more efficient cost base has enabled us to increase underlying profitability, giving us confidence for the year ahead.

"Whilst we remain cautious about the overall economic outlook, our pipeline of new business is stronger than at any time in the last three years, and we are continuing to win new clients in both the UK and Australia."

Jaywing said it would release its results for the 12 months ended 31 March in early September, with its annual general meeting following by the end of that month.

At 0926 BST, shares in Jaywing were flat at 10.25p.

Reporting by Josh White at Sharecast.com.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Jaywing Market Data

Currency UK Pounds
Share Price 8.17p
Change Today -0.58p
% Change -6.67 %
52 Week High 12.00
52 Week Low 7.25
Volume 75,000
Shares Issued 93.33m
Market Cap £7.62m

Jaywing Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
37.79% above the market average37.79% above the market average37.79% above the market average37.79% above the market average37.79% above the market average
48.00% above the sector average48.00% above the sector average48.00% above the sector average48.00% above the sector average48.00% above the sector average
Price Trend
20.60% above the market average20.60% above the market average20.60% above the market average20.60% above the market average20.60% above the market average
43.40% above the sector average43.40% above the sector average43.40% above the sector average43.40% above the sector average43.40% above the sector average
Income Not Available
Growth
23.29% below the market average23.29% below the market average23.29% below the market average23.29% below the market average23.29% below the market average
11.54% below the sector average11.54% below the sector average11.54% below the sector average11.54% below the sector average11.54% below the sector average

What The Brokers Say

Strong Buy 0
Buy 1
Neutral 0
Sell 0
Strong Sell 0
Total 1
buy
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Jaywing Dividends

No dividends found

Trades for 01-Dec-2022

Time Volume / Share Price
11:33 75,000 @ 8.47p

Jaywing Key Personnel

CEO Andrew Robert Fryatt

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