Made Tech Group (AIM: MTEC) provides services that enable central government, healthcare, and local government organisations to digitally transform. The Group was founded in 2008 by CEO Rory MacDonald and listed on AIM in September 2021.
The primary clients of the Group are the departments, agencies and arm’s length bodies of UK Government including the Home Office, DVLA, HMRC, Department for Education, Department for International Trade and the Ministry of Justice.
In the financial year ended March 2021, spending by Central Government on digital transformation totalled £3.15bn, and forecasts predict that the UK GovTech market will reach £20bn by 2025 (and $400bn globally)
The Groups has a track record of delivering organic growth, with revenue increasing at a compound annual growth rate of 89% over the three year period to the financial year ended 31 May 2021, without taking any external investment.
Over the mid and long term, the strategy is to achieve sustained revenue, profit, and cash flow growth by expanding Made Tech’s capabilities, building out regional hubs and growing the Group’s market share within the health, local government, and central government sectors.
Met Office appoints Made Tech as Digital Services Partner Made Tech, a leading provider of digital, data and technology services …
Major new contract with NHS Digital Made Tech Group plc, a leading provider of digital, data and technology services to …
INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 NOVEMBER 2021 Made Tech Group plc, a leading provider of digital, data …
Trading Update and Notice of Interim Results Strong revenue growth and performance in line with expectations Made Tech Group …
Award of Largest Ever Contract Made Tech Group plc, a leading provider of digital, data and technology services to the …
Made Tech Group plc has today listed on AIM raising £85.4m at a placing price of 122p per share, with …
| P&L | 31 May 2021 £~000 | 31 May 2020 £~000 |
|---|---|---|
| Revenue | 13,331 | 5,466 |
| (Cost of Sales) | (8,318) | (3,107) |
| Gross Profit | 5,013 | 2,359 |
| Profit/ (Loss) before tax | (8,06) | 359 |
| Balance Sheet | 31 May 2021 £~000 | 31 May 2020 £~000 |
|---|---|---|
| Cash & Cash Equivalents | 922 | 986 |
| Total Assets | 4,221 | 3,256 |
| (Loans & Borrowings) | (328) | (150) |
| (Total liabilities) | (5,008) | (2,085) |
Directors
Rory MacDonald 28.16%
Chris Blackburn 14.41%
Luke Morton 4.06%
Others
Premier Miton – 7.02%
Berenberg Bank – 5.74%
Canaccord Genuity Wealth – 3.24%
Chelverton AM – 3.11%
Investors Chronicle (Sep 2021): Made Tech launches in anti-PE listing
Made Tech (MTEC), a company that provides digital transformation services to the UK public sector, made its stock market debut on Thursday morning. On admission to trading on AIM the company will have a market cap of £181m. The company has achieved a revenue CAGR of 89 per cent from £1.9m in 2018 to £13.3m for the year ended 31 May 2021.
Chief executive Rory MacDonald told Investors’ Chronicle the company was looking for an alternative to the growth-then-buyout aim of many tech companies. “Lots of companies in our space get acquired by private equity but by going public we can support our clients for the long-term,” he said.
From Made Tech’s Admission Document (Sep 2021)
“In the financial year ended March 2021, spending by Central Government on digital transformation totalled £3.15 billion (Source: Crown Commercial Service ‘Digital Futures’) and forecasts predict that the UK GovTech market will reach £20 billion by 2025 (and $400 billion (approximately £290 billion) globally) (Source:Public.io).”
