SCISYS (SSY:AIM) 126p
Gain to date: 14% Original entry point: By at 110.5p, 6 April 2017
SIX MONTHS AGO investors were being spooked by reports that Brexit could scupper European Space Agency (ESA) work for SciSys (SSY:AIM).
How wrong that now looks in the face of the recent €18m deal to supply ground station control and communications technology on an ESA satellites mission.
Finally the market appears to be waking up to the positive re-rating potential here. For example, at the current 124.5p the company trades on an enterprise value to earnings before interest, tax, depreciation and amortisation (EBITDA) of 7.5-times, about half the government software peer group average, according to analysts.