Previously writing on flexible workspace technology company essensys (ESYS), in August with the shares up to 63p I questioned is it really “good progress against its strategic growth plan”?. What of now results for its year ended 31st July 2022 and the shares currently down to 52.5p?
Describing itself as “a leading global software and technology provider delivering digitally enabled buildings, spaces and services for landlords and flex workspace operators”, essensys (ESYS) states that it “is pleased to announce a pre-close trading update for the financial year ended 31 July 2022” and “revenue and adjusted EBITDA in FY22 are expected to be in line with consensus market expectations… we remain confident in the market and opportunity for the group in FY23 and beyond”. So what of a share price response currently up just over 4% to 63p?
Previously writing on essensys plc (ESYS), which describes itself as a “leading global provider of mission critical software-as-a-service platforms and on-demand cloud services to the flexible workspace industry”, in July with the shares at 300p I concluded the future improvement needed to justify the valuation meant the stance was avoid / sell. Today a half-year trading update and the shares, having last closed at 245p, currently below 130p!
Self-styled “leading global provider of mission critical software-as-a-service platforms and on-demand cloud services to the flexible workspace industry” essensys (ESYS) “is pleased to announce… an aggregate of 10,984,552 primary placing shares have been successfully placed by Singer Capital Markets Securities Limited and Berenberg at an offer price of 285 pence per placing share to raise gross proceeds for the company of approximately £31.3 million”. Good news?...
Hello, Share Chums. My hunt for companies that might benefit from covid, both before and after the pandemic, continues. Today’s subject is Essensys (ESYS). This is an office backup service that includes in its arsenal, systems for companies to arrange more flexible working, including, I expect, accommodating the new environment of working from home. That sounds like a function with a future, don't you think?
