Agree with your option sentiments. I am also attempting to understand what sort of synergies NOV may gain from the newly focused RKN and am keen to see what sort of growth the online subscriptions may have had over the past 6 months.
Also, what potential dividends to flow to NOV from the ~ 20% holding in RKN with the Accountancy Business gone.
The annual RKN report seems to appear in the second week of February.
I understand to some level (I think), the link up with Reckon Business Group (see below figures from RKN - 30 June 22 half yearly report).
Q. Is their potential for some NOV linkage to the Practice Management – Legal Group ?
................................................................................................................................
Business Group• H1 revenues of $21.9m (up 3% on PcP),• Comprising 91% subscription revenue, with over 400,000 employees now paid via Reckon software• EBITDA increased to $12.3m, an 6% increase over PcP• Cloud revenue up by 9% on PCP, representing 52% of the divisions HY revenue• Continued growth across our cloud and mobile payroll solutions, with integration of Novatti payments solution expected to supportH2 CY2022 sales growth
Practice Management – Legal Group• H1 subscription revenues of $4.4m, up 5% from PcP• Continued investment in cloud-based software services and sales capability• Opportunity to introduce cloud practice management suite for law firms still largely using desktop software• Reckon retains 70% of division with incentives for US management to increase equity through revenue milestones• US$5m committed to fund growth via combination of cash and loans.
.............................................................................................................................
Patiently waiting, waiting, waiting...
Cheers. Anton
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