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Highlights
- GSTechnologies recently established two wholly owned subsidiaries, in the UK - GS Fintech Ltd and GS Fintech Pte Ltd in Singapore, to accelerate its expansion in the blockchain.
- Triad Group announced a final dividend payout of 2.0 pence per share to shareholders for the year ended 31 March 2021.
As enterprises across all sectors rush to jump onto the digital transformation bandwagon, IT solution providers offering novel solutions and services are in high demand. The Covid-19 pandemic played a major role in stepping up the adoption of digital transformation solutions across various business operations. The adoption of these IT services and solutions is all the more necessary in a scenario where companies have allowed employees to work remotely from the comfort of their homes to comply with social distancing and lockdown measures. The growing need to seamlessly conduct business activities and increasing security concerns is driving demand for IT services and solutions.
(Data source: Company and EODHD/Others)
Investors keen on diversifying their portfolios can invest in these tech stocks to make the most of the booming market scenario. Here we take a look at 2 ICT stocks with a return of over 300% in a year to buy now.
Golden Saint Technologies Ltd (LON:GST)
Golden Saint Technologies Ltd or GSTechnologies Limited is a provider of integrated ICT infrastructure solutions. Recently, in February this year, GSTechnologies established its wholly-owned subsidiary in the UK - GS Fintech Ltd and GS Fintech Pte Ltd in Singapore to accelerate its expansion in the blockchain technologies and services segment. On 6 September 2021, GSTechnologies announced £1.4 million placing of 141.5 million new shares priced, each share priced at 1 pence.
For the year ended 31 March 2021, GSTechnologies recorded a total income of US$3.41 million, a decline of 25.1% from the previous year’s US$4.55 million. The company’s net comprehensive loss for the year stood at US$0.33 million compared to a US$0.46 million loss in 2020.
The shares of Golden Saint Technologies traded at GBX 1.18, up by 1.29% at 10:04 AM on 9 September 2021 and its market cap stood at £13.84 million. In the last one year shareholders of the company have got a massive return of 335.03%.
Triad Group Plc (LON:TRD)
Triad Group offers information technology development and consultancy services to central and public agencies. For the year ended 31 March 2021, the company recorded revenue of £17.8 million compared to £19.4 million in 2020. Its profit before tax stood at £0.6 million in 2021 compared to a loss of £0.6 million in 2020. The company’s cash reserves as of 31 March 2021 increased to £4.9 million from £3.8 million as of 31 March 2020.
A final dividend payout of 2.0 pence per share was announced by the Triad Group’s board for the year ended 31 March 2021.
The shares of Triad traded flat at GBX 122.50 at 9:45 AM on 9 September 2021. The shares of the company have returned whopping 398.80% in the last one year to shareholders, and its market cap stood at £19.99 million.
Bottomline
Investors keen on diversifying their portfolios can invest in technology stocks to make the most of the growing demand for digital transformation technologies across businesses. Nevertheless, investors must carefully analyse all financial fundamentals before including any tech stocks in their portfolios.
