Portrait Software Plc (PST)
ISR viewPortrait has always had good technology but has been poor at exploiting it. However, the new management team has revitalised the business strategy and provided greater focus on sales and marketing execution which is transforming Portrait's financial performance and growth prospects.
Share price
Market cap.0.0m
Financials
|
Year end Mar Profit & Loss |
Mar 2006 A £m | Mar 2007 A £m | Mar 2008 A £m | Mar 2009 A £m | Mar 2010 A £m |
Mar 2011 E £m |
|---|---|---|---|---|---|---|
| Revenue £m | 11.6 | 14.4 | 14.1 | 14.4 | 15.9 | 18.0 |
| Adj EBITDA £m | 0.8 | 1.1 | 1.1 | -0.2 | 2.0 | 2.9 |
| Adj EBIT £m | 0.4 | 0.8 | 0.8 | -0.5 | 1.6 | 2.5 |
| Reported PBT | -1.4 | 0.5 | 0.4 | -3.1 | 1.1 | 2.0 |
| PBT before exceptionals and AAG | 0.2 | 0.6 | 0.4 | -0.8 | 1.4 | 2.3 |
| Fully adj PBT | 0.2 | 0.6 | 0.6 | -0.7 | 1.5 | 2.4 |
| NOPAT £m | 0.3 | 0.6 | 0.5 | -0.4 | 1.1 | 1.7 |
| Reported EPS | -2.2 | 0.4 | 0.3 | -2.7 | 1.1 | 1.1 |
| EPS before exceptionals and AAG | 0.2 | 0.4 | 0.3 | -0.5 | 0.8 | 1.3 |
| Fully adj EPS | 0.2 | 0.5 | 0.4 | -0.4 | 0.8 | 1.3 |
| Dividend per share p | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Cash flow & Balance sheet | ||||||
| Operating cash flow | -2.3 | -0.5 | 0.8 | -0.1 | 0.9 | 2.4 |
| Free Cash flow £m | -3.0 | -1.1 | 0.3 | -0.6 | 0.4 | 1.7 |
| FCF per share p | -4.2 | -1.2 | 0.3 | -0.6 | 0.3 | 1.4 |
| Capex | -0.2 | -0.2 | -0.3 | -0.2 | -0.3 | -0.2 |
| Acquisitions | 1.2 | -0.8 | 0.3 | 0.0 | 0.0 | 0.0 |
| Net cash flow | -1.6 | -1.8 | 0.6 | -0.5 | 0.4 | 2.0 |
| Shares issued | 4.8 | 1.4 | -0.2 | 0.0 | 0.6 | 0.0 |
| Net cash | 1.0 | 0.5 | 0.9 | 0.2 | 1.1 | 3.1 |
| Metrics | Mar 2006 A | Mar 2007 A | Mar 2008 A | Mar 2009 A | Mar 2010 A | Mar 2011 E |
| Revenue growth | 24.3% | -2.1% | 2.3% | 10.1% | 13.7% | |
| Adj EBITDA growth | 37.8% | -2.2% | -117.8% | -1151.1% | 47.0% | |
| Adj EBIT growth | 90.4% | -6.1% | -167.9% | -407.7% | 50.3% | |
| Adj PBT growth | 186.5% | -12.8% | -232.7% | -301.5% | 58.5% | |
| Adj EPS growth | 121.2% | -20.5% | -212.6% | -290.6% | 58.5% | |
| Dividend growth | ||||||
| Adj EBIT margins | 3.8% | 5.8% | 5.6% | -3.7% | 10.3% | 13.6% |
| Operating cash conversion | -288.0% | -46.0% | 80.0% | 49.0% | 44.0% | 83.0% |
| Capex/Depreciation | 50.0% | 66.0% | 95.0% | 52.0% | 95.0% | 41.0% |