|Corporate Services Group
||EPS - Basic
||Market Cap (m)
Real-Time news about Corp.Serv.Grp (London Stock Exchange): 0 recent articles
|ferhat00: CSG Ltd in Australia (CSV:ASX) looks like a great business. It's trading at low P/E yet its dividends are growing, good revenue growth, and little debt. Yet why is the share price so low? I noticed in that the share jumped last year on potential takeover rumours, yet went down again, after the takeover was cold off.
What do people think of this stock?|
|knowing: vs watching and wondering if I should add a few as the conversion gives a new share price of 2.15p which is a good premium to todays price.|
|knowing: More sector news
ROUNDUP Michael Page FY profit up 52 pct; sees further expansion but shares fall
LONDON (Thomson Financial) - Michael Page International PLC posted a 52 pct
increase in full-year profit helped by a continued shortage of candidates, and
said it is well positioned and more resilient to economic cycles, which will
ensure future growth.
Evolution Securities analyst Hector Forsythe previously said the driving
force for future growth will be supply constraints in specialist recruitment
niches, together with regulatory and legislative changes in European markets.
The company said today these key drivers include a deregulation of the
labour markets, demographic changes, an increased global shortage of qualified
professionals, increasing job mobility and a greater awareness and acceptance
for companies to use specialist recruitment services.
Michael Page also gave investors what they were looking for by outlining its
growth strategy for the future, saying it wants to continue with expansion,
including moving into Austria, New Zealand and Turkey. The company is also
planning to open countless new offices including three in the Americas, seven
across Europe and two new offices in China.
Finally, Michael Page posted a 52 pct increase in pretax profit and said it
was seeing similar year-on-year increases in activity levels in all regions
since the start of the current year, with the exception of certain sectors
related to the banking market.
But shares fell despite the positive results. At 09.45 am, Michael Page
shares were down 2.2 pct or 6 pence to 271.75 pence. Landsbanki analyst Ian
Jermin said that "however good the results for 2007, the share price is
reflecting continued concern about the US economy and the possibility of
contagion in the UK and broader global economy".
Investors got spooked by the slowdown in Michael Page's Finance division and
Financial Services sector. Deutsche Bank said it cannot lose the feeling that a
wider slowdown is coming despite the results being in line.
Chief executive Steve Ingham told reporters during a conference call that
Michael Page is experiencing two issues: a self-inflicted problem within Finance
and the credit crunch impact on Financial Services.
Ingham said that within the UK, Michael Page Finance produced a mixed
performance with good growth in the regions being held back by below expectation
growth in London and the South East.
But the CEO added that the slowdown in Finance was of the company's own
making and is being remedied by changes to the management structure of these
businesses, which should produce an improved performance in 2008.
The company said that its Financial Services had a very good first half of
the year but that the "credit crunch" in the latter half of 2007 has impacted
certain parts of the banking market causing the growth rate to slow, being flat
year-on-year in the fourth quarter.
The offices that are mainly impacted include those in London, Tokyo and
Deutsche Bank analysts also said that sectors such as Legal and HR, which
have some exposure to banking, are also seeing a slowdown. Merrill Lynch analyst
Andrew Ripper pointed out that banking makes up about 7 pct of the group's net
He added, however, that the group is continuing to add headcount, which
could reach 6,000 by the end of 2008 if the majority of markets remain
Michael Page reported good full-year results today with pretax profit
reaching 147.4 mln stg from 97 mln in the year before period, on a 28 pct rise
in revenue to 831.6 mln.
In the UK, which now only makes up 39 pct of gross profit, Michael Page
recorded a gross profit increase of 19.4 pct to 186 mln stg. The company said it
invested heavily during the year, increasing headcount by 17 pct to 1,799 and
opening new offices.
Michael Page's EMEA region, which makes up 41 pct of gross profit, saw it
rising 55 pct while the Americas recorded an increase of 79 pct.
The company said its much more diversified today than in any previous
downturn and hence is confident for growth in the future.
Michael Page shares already lost half their value on fears that the credit
crunch will spread into the wider economy and affect hiring trends. They closed
Monday at 277 pence valuing the company at 896 mln stg.|
|knowing: (1.88) Daniel Stewart has initiated Corporate Services Group as 'buy' with a 3.7 pence target, saying that while the market is concerned by high debt levels, it believes finances are tight but manageable, and sees a number of ways to repair the balance sheet, according to traders. In a note to clients, Daniel Stewart said a 2008 estimated PE ratio of 2.8 times reflects concerns over debt and the risk of a dilutive equity issue - which it expects the group to avoid. Furthermore, it says it does not expect Corporate Services to breach its banking covenant, estimating that this would only occur in the event of a 2008 recession. The broker said that it sees 90% upside to its sum-of-the-parts value, offering scope for share price and balance sheet repair through disposals or merger.|
|chancer6: 05.12.07 :.-9, (1.88) Daniel Stewart has initiated Corporate Services Group as 'buy' with a 3.7 pence target, saying that while the market is concerned by high debt levels, it believes finances are tight but manageable, and sees a number of ways to repair the balance sheet, according to traders. In a note to clients, Daniel Stewart said a 2008 estimated PE ratio of 2.8 times reflects concerns over debt and the risk of a dilutive equity issue - which it expects the group to avoid. Furthermore, it says it does not expect Corporate Services to breach its banking covenant, estimating that this would only occur in the event of a 2008 recession. The broker said that it sees 90% upside to its sum-of-the-parts value, offering scope for share price and balance sheet repair through disposals or merger.|
|purav: it is getting a bit silly. but their buying has not impacted the share price collapse. i think allianz se buying in is "comforting" in that a little birdy would have told them if they were buying into soemthing where there would be a deeply discounted rights issue|
|a1samu: Last year there was a Pre-close update on the 20 December 2006. I expect one should at least wait to see what will be contained in such an update should one be released next month, before throwing good money after bad.
Allianz have now 22.53% of the shares, which they have been accummulating over the year, as per RSN of the 5.11.7. I wonder what they are holding them for and why they are continuously going back for more and why the purchases make no difference to the share price whatsoever.
In any event it is still a long time to the final results announcement for the year ended 31 December 2007. The last finals announced for the year ended 31 December 2006 was on the 21 February 2007. Not that anything good or significant, like a declaration of a dividend, is expected to propel the shares upwards.|
|knowing: Share Price Movement
Corporate Services Group PLC
31 July 2006
THE CORPORATE SERVICES GROUP plc
The Board of Corporate Services Group plc (the "Company"; or the "Group"; RIC
code - CSV) notes the recent fall in the Company's share price and knows of no
trading reason for this fall. The Company reiterates the trading update given
at its Annual General Meeting on 9 June 2006.
In addition, the Company was advised on 20 July that the Active Value Capital,
L.P., AVC CIP, L.P., Active Value Pledge Fund, L.P., Active Value Capital, Inc.
and Active Value Euro Partners, Inc. (together the "Active Value Funds") no
longer have a notifiable interest in the Group. The Group understands that
8.67% of the company has been distributed directly to the investors in the
Active Value Funds.
CSG would like to formally acknowledge the support that the Active Value Funds
and, in particular, Active Value Fund Managers, has given the Group over the
last four years.|
|alannlane: CSV share price on the slide again....bearing in mind the bad state of the market...I can't see anything to stop these going down to the next support level @ 4pence....shall wait.|
|weskirby: terry91 the ftse all share trackers are now quite popular even my pension plan offers one for example....they have to maintain sector weightings so to keep it very simple if you have four shares in the all share:
arm market cap =100m it 25%
bp market cap=100m oil 25%
bt market cap=100m telco 25%
rsa market cap=100m insurance 25%
then a tracker needs to roughly match the %age allocations to each of the four cos/sectors to ensure it can match to a specific %age correlation the movements in the underlying all share
if a 5th company joins the all share csv which has the same market cap as the other 4 i.e. market cap=100m we now have the scenario:
arm it 20%
bp oil 20%
bt telco 20%
rsa insurance 20%
csv recruitment 20%
total market cap =500m
if csv share price grows faster than the other 4 then the tracker fund (baed on tracking only arm/bp/bt/rsa) will fail to match the all share performance and fail as a tracking product so what it 100% must do is buy shares in csv to ensure that it can match the new "sector weightings" as they are called...
so it is a forced buyer...if csv falls out of the all share it the tracker funds dump csv as " forced sellers"...so now you see 1.4m buys from folks who have to buy csv and effectively they are underpinning the current price...
clearly if we had known at 8am there was a 1.4m buyer out there it was a riskless bet to pile in first thing...I actually did top up at just over 12p as soon as I realised that a big buyer had cleared the overhang from yesterday...and just plain guessed it was a tracker...
my guess is that the 600k dump the previous day was a ftse fledgling tracker fund dumping as it is no longer in the fledgling....
my guess though is that the hedge funds know that the tracker funds have to buy and so do shroders of course so they can push up the price and know that they have to keep buying.....no one knows how many shares it will take to keep these tracker funds happy but it is certainly way more than 1.4m imvho....
dyor of course as this is my 100% speculation and is not investment advice...|
Corporate Services share price data is direct from the London Stock Exchange