UK tech stocks broadly sideways amid results activity

Joseph B. Hash

United kingdom tech stocks ended up boosted previous 7 days by optimistic buying and selling information from sector heavyweights, The Sage Group PLC (LON:SGE), Computercentre (LON:CCC) and Mastering Technologies Group PLC (LON:LTG)

At a glance

Computercentre strike report highs just after it said that 1st-50 percent revenue ended up significantly in advance of the identical period of time previous yr, served by a surge in demand from customers for IT devices to allow dwelling performing. Sage jumped 10% above the 7 days, just after it described a 6.five% growth in Q3 recurring profits, with the number supported by reduced-than-envisioned churn

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First half 2020 results – Atos

Joseph B. Hash

Strong commercial dynamic

 Order entry up +9.4% year-on-year, Book to bill ratio at 112% (Q2 at 121%)

Revenue at € 5,627 million, -2.8% organically (Q2 at -4.8%)

Cost actions leading to an Operating margin at € 450 million, 8.0% of revenue

Working capital timing effects leading to a Free cash flow at € -172 million

 Normalized diluted EPS at € 2.93

Cybersecurity and Decarbonization acquisitions announced today

 All 2020 objectives confirmed

Paris, July 27, 2020

Atos, a global leader in digital transformation, today announced its financial results for the first half of 2020.

Elie Girard, CEO, said: “During the

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DiscoverIE Group PLC gets upgrade after results impress Berenberg

Joseph B. Hash

The broker’s new value goal is 590p and ‘buy’ the investment score.

DiscoverIE Group PLC () has experienced its share value goal upgraded by Berenberg following the broker was impressed with last week’s final results.

The German broker reported the electronic component supplier’s gains ended up seven% ahead of its anticipations while net personal debt was 19% reduce than forecast.

“Trading so much in Q1 has illustrated the resilience of the organization design, and new prolonged-phrase targets demonstrate management’s ambitions to turn out to be a greater-development, greater-margin organization,” Berenberg extra.

The corporation experienced a file buy guide of £159mln

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Hamilton Beach to Restate Two Years of Results

Joseph B. Hash

Residence appliance business Hamilton Seaside Brands explained it would restate monetary results because of to accounting irregularities involving its Mexican subsidiary.

In a regulatory submitting Thursday, Hamilton Seaside explained a previously disclosed inside investigation identified that workforce of the Mexican subsidiary “engaged in unauthorized transactions with the company’s Mexican subsidiary that resulted in the recording of assets that are not realizable.”

As a result, the Glen Allen, Va.-centered business will publish off selected amounts “erroneously incorporated in the company’s historic monetary statements in trade receivables, prepaid bills, and other existing assets” and will restate its monetary statements for the complete

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