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Made Tech – arguing “a credible EBITDA performance”, is CEO Rory MacDonald fooling himself or trying to fool everyone else?

By Steve Moore | Thursday 1 February 2024

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

Previously writing on Made Tech Group (MTEC), which describes itself as “a leading provider of digital, data and technology services to UK public services”, in September with the shares falling further towards 15p I noted cash burn abounds and to still avoid. Today it states it “is pleased to provide a half year update on trading”, so why are the shares currently a further more than 23% lower on the back it to around 10p, a £15 million market cap?

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