RKN 1.82% 56.0¢ reckon limited

Broker price target increased to 1.60. Almost 100% upside, page-3

  1. 292 Posts.
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    I 'reckon' the results were decent overall. The small business group growth (and margin expansion) were very good. Hopefully this'll continue?

    Accountant PM continues to be the 'boring' engine room of this Co. Don't get me wrong - a 'boring' (but reliable) basis on which expand, is a good thing.

    Legal continues to be disappointing. Has been for years per my recollection (I haven't re-checked every report). RKN used to tout "Scan and Print" as their way forward - but no mention this time round that I saw? COVID may well have affected results like they say - but per above, Legal hasn't done well for a fair while. Maybe the Zebra Works JV will be the way forwards? Seems plausible doubling-down on cloud software platforms IMO anyway - we'll see. I hope they can get Legal moving in the right direction again. Having 2 'growth' departments would be awesome, but Legal still needs a lot of work.

    Was hoping the development capex wouldn't tick up again, but it did. RKN have to stay competitive though - so I guess it's just they way things are, in their niche? All the more important they get back to solid Co.-wide growth then.

    Glad they will reduce debt further too, after selling off the Docs business. I have never been overly comfortable with RKN's debt levels, though I tend to be reasonably financially conservative.

    I 'reckon' it's back in the bottom draw then, till next Half. In the meantime I'll take my fat divvy!
 
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56.0¢
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56.0¢ 56.0¢ 55.0¢ $61.03K 109.0K

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Last trade - 15.16pm 26/07/2024 (20 minute delay) ?
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