21st Century Technology plc (AIM:C21)Market Cap (5 million) Share Price 5.12p
Company
21st Century Technology plc (AIM: C21), is a specialist provider of CCTV, monitoring and passenger information systems to fleet and network operators in the bus and rail industries. They are trying to move towards an expanded business model which involves highly integrated on-board technologies with connected and web based back-office software management applications.
Background
The last two years have been a horrid time for the business itself and shareholders who had their hopes raised and dashed as the share price fell from a high above 18p down to 4p on profit warnings and senior management departures.
Grave concerns arose when they lost one of their key 3 customers accounts which represented a
large percentage of annual turnover. The CEO and Financial Director resigned in August 2013. This left the company very much in limbo for several months until replacement senior management were found. Losses recorded for the company in cash terms were 400K in 2013 and another similar loss of 400K in 2014. At least losses seem to have stabilised.
After a most difficult few months 21stCentury Technology secured a good management team who seem to date to have a business plan that is working. Russ Singleton the new CEO since November 2013 has a track record of forming and growing electronics businesses forQuadnetics Group Plcsince 2002. Quadnetics at the time he left as CEO was involved in the design, integration and control of advanced surveillance technology, networked security systems and strategic security solutions.
New Contracts
Checking out the RNS for the company shows regular significant new contract wins over last 12 months, which should help maintain or increase annual turnover. One of the more interesting
contract wins is a 1.3 million contract with a rail company providing for their first in-carriage contract win. The technology used is similar to that which they use on buses.
New Acquisition
The recent game changer in…
