Stock data
| Market cap. | £10.4m |
| Last close | 41.50p |
| High / Low (52 weeks) | 46.0p / 37.5p |
| Stock market listing | AIM |
| Forecast net cash (£m) | 0.4 |
| Forecast gearing ratio (%) | N/A |
| Team | Technology |
| Sector | Technology |
Price performance
| % | 1m | 3m | 12m |
|---|---|---|---|
| Actual | 6.41 | 5.06 | 8.85 |
| Relative * | 11.64 | 13.69 | 19.62 |
* % Relative to local index
Other companies covered in sector
| Y/E Dec | Revenue (£m) | EBITDA (£m) | PBT (£m) | EPS (p) | P/E (x) | P/CF (x) |
|---|---|---|---|---|---|---|
| 2010A | 11.0 | 0.9 | 0.7 | 2.6 | 16.0 | 15.9 |
| 2011A | 9.1 | 1.0 | 0.9 | 3.2 | 13.0 | 9.0 |
| 2012E | 10.3 | 1.2 | 1.1 | 3.7 | 11.2 | 8.7 |
| 2013E | 11.3 | 1.4 | 1.2 | 4.1 | 10.1 | 7.7 |
Last updated on 16/04/2012
Latest research
Web analytics and more
Outlook | Technology | 26/03/2012
Managed service growth
Update | Technology | 07/09/2011
Web technology experts
Outlook | Technology | 15/03/2011
Specialist web analytics
QuickView | Technology | 22/09/2010
Investment summary
FY11 adjusted EBIT rose 20% to £0.9m as the margin jumped by 3.2% to 10%. We forecast revenues to rise 14% in FY12 to £10.3m (previously £10.9m) and 10% in FY13 to £11.3m (£11.8m)- the cuts are due to lower software sales. However, we maintain our adjusted EBIT forecasts with a 23% rise in FY12 to £1.1m and 15% in FY13 to £1.3m. Net debt was £0.7m (or £0.2m adjusted for a cashable investment) and we forecast net cash of £0.4m (£0.8m) at end FY12. The shares look attractive trading on c 11x our FY12 EPS falling to c 9x in FY13.
Last updated on 23/04/2012
Industry outlook
IS Solutions has carved out a niche as a specialist systems integrator, offering software products, projects and managed services to support organisations' internet infrastructures. Demand is supported by the increasing complexity of IT infrastructure and the requirement to integrate many continually evolving technologies. ISL has established an interesting position in analytics, which is used by organisations to better understand their online customers. In our view, the outlook for internet/e-commerce is strong vs the overall IT market.
Last updated on 23/04/2012
Key management
| John Lythall, CEO |
Company address
| Windmill House 91-93 Windmill Road Sunbury-on-Thames Middlesex TW16 7EF United Kingdom +44 (0)1932 893333 View website |
