Share Name Share Symbol Market Type Share ISIN Share Description
Matchtech LSE:MTEC London Ordinary Share GB00B1FMDQ43 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 383.25p 0.00p 0.00p - - - 0.00 05:00:10
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Support Services 502.3 11.3 31.0 12.4 116.45

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03/11/201607:28ALNCFAlliance News Flash Headline
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Matchtech (MTEC) Discussions and Chat

Matchtech Forums and Chat

Date Time Title Posts
22/9/201610:47Matchtech : Engineering Recruitment371.00
06/2/201510:07Looking for opportunities...-
20/8/200912:55MTEC - Engineers Are Hot Property110.00

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Matchtech (MTEC) Top Chat Posts

DateSubject
22/8/2016
10:45
davebowler: Equity Development; Matchtech Group Solid H2 outperforming UK staffing market Aug 4, 2016 Matchtech is the UK's number 1 specialist engineering (60% group NFI) and number 3 technology (split 23% IT & 17% Telecoms) recruitment agency, providing contract, temporary and permanent staff. 74% of NFI comes from placing contractors (9,000 on assignment), with the remaining 26% from permanents. Several economists think there will be a recession post BREXIT, albeit we suspect there will be only a temporary dip in GDP, with normal activity levels returning once the initial shock has passed. Regarding Matchtech we would argue that the business is far less cyclical than the broader staffing sector, since most of its infrastructure, automotive, telecoms, IT/software and aerospace customers are enjoying secular growth drivers, with exporters receiving a further boost from Sterling's 10% devaluation. Even if we are wrong and there is a prolonged decline in output, then this is still likely to affect permanent placements far more than MTEC's approx. 9,000 strong contractor base - many of whom are working on long term government-funded capital projects (eg Crossrail) and/or infrastructure programmes within regulated industries (eg water, rail, etc). This downside resilience was again demonstrated this morning, following news that adjusted PBTA for the year ending July 2016 would be in line with management expectations, with LFL FY16 NFI up 1% to £72.6m - thanks to a solid second half (+3% vs -1% in H1'16) on the back of continued strong demand for skilled engineers (H1: 7%, H2: 5%) even after the EU Referendum. Overall this was a very creditable performance, especially given the headwinds experienced elsewhere in the industry. Nonetheless, we have shaved our FY16 adjusted PBTA and diluted EPS numbers (excluding discontinued activities) by 4% to £20.4m (vs £21.3m) and 43.7p (vs 45.6p) respectively. 0ur adjusted FY17 PBTA forecast has been trimmed too - this time by 14% to £19.7m (vs £22.9m) reflecting relatively flat underlying NFI growth of 0.6% to £73.0m vs 1% LFL in FY16. Accordingly, our share price target falls from 621p to 460p per share. On valuation the stock at 345p appears cheap, trading on forward EV/EBITA and PE multiples of 6.8x and 8.2x respectively vs 8.4x and 12.0x for the peer group average, as well as offering a 6.7% dividend yield (1.8x cover), supported by healthy cash generation, attractive NFI conversion rates and a robust balance sheet.
04/8/2016
09:23
davebowler: Equity Development; Matchtech is the UK's number 1 specialist engineering (60% group NFI) and number 3 technology (split 23% IT & 17% Telecoms) recruitment agency, providing contract, temporary and permanent staff. 74% of NFI comes from placing contractors (9,000 on assignment), with the remaining 26% from permanents. Several economists think there will be a recession post BREXIT, albeit we suspect there will be only a temporary dip in GDP, with normal activity levels returning once the initial shock has passed. Regarding Matchtech we would argue that the business is far less cyclical than the broader staffing sector, since most of its infrastructure, automotive, telecoms, IT/software and aerospace customers are enjoying secular growth drivers, with exporters receiving a further boost from Sterling's 10% devaluation. Even if we are wrong and there is a prolonged decline in output, then this is still likely to affect permanent placements far more than MTEC's approx. 9,000 strong contractor base - many of whom are working on long term government-funded capital projects (eg Crossrail) and/or infrastructure programmes within regulated industries (eg water, rail, etc). This downside resilience was again demonstrated this morning, following news that adjusted PBTA for the year ending July 2016 would be in line with management expectations, with LFL FY16 NFI up 1% to £72.6m - thanks to a solid second half (+3% vs -1% in H1'16) on the back of continued strong demand for skilled engineers (H1: 7%, H2: 5%) even after the EU Referendum. Overall this was a very creditable performance, especially given the headwinds experienced elsewhere in the industry. Nonetheless, we have shaved our FY16 adjusted PBTA and diluted EPS numbers (excluding discontinued activities) by 4% to £20.4m (vs £21.3m) and 43.7p (vs 45.6p) respectively. 0ur adjusted FY17 PBTA forecast has been trimmed too - this time by 14% to £19.7m (vs £22.9m) reflecting relatively flat underlying NFI growth of 0.6% to £73.0m vs 1% LFL in FY16. Accordingly, our share price target falls from 621p to 460p per share. On valuation the stock at 345p appears cheap, trading on forward EV/EBITA and PE multiples of 6.8x and 8.2x respectively vs 8.4x and 12.0x for the peer group average, as well as offering a 6.7% dividend yield (1.8x cover), supported by healthy cash generation, attractive NFI conversion rates and a robust balance sheet.
04/8/2016
06:23
cwa1: http://uk.advfn.com/stock-market/london/matchtech-MTEC/share-news/Matchtech-Group-PLC-Trading-Update-for-12-months-e/72134437
19/7/2016
13:26
grahamburn: Tend to agree with your final sentiment, QP, that sure-footed and sound management might be in short supply. However, the recent decline in the share price has, IMO, much more to do with the uncertainty brought about by the referendum result. Too much uncertainty surrounds the main markets for the company's various brands and sectors. That's likely to prevail - and even worsen - over the next few months (and possibly years?). On the other hand, yesterday's Commons vote on Trident and the hoped-for acceleration in major infrastructure projects have the potential to soften the blow. The latter may even prove positive in the medium term.
19/7/2016
08:34
quepassa: 1. Thanks for the Telegraph link. Very interesting. 2. Adrian Gunn stepped down as CEO ( much to my personal regret) in early 2015. The share price was about 600p. The new CEO, Brian Wilkinson took over. The share price is now about 325p. And now we see a proposed corporate name change to the same as a 1990's sci-fi movie. Something, somewhere, somehow just is disconcerting, disenchanting, disconnected. ALL IMO. DYOR. QP
25/9/2015
11:11
amencorner: Not many followers of this share. They are about 3% of my portfolio and I was thinking of topping up a little more. Any wise thoughts on the reason for the slackness in the share price? I have used them for temporary staff a fair amount in the past and they are a very decent company.
09/4/2015
08:33
quepassa: Slightly uninspiring figures perhaps. Personally not nearly as keen on the new CEO as the old one. The "flavour" of the Company, their announcements no longer seems the same. All rather wishy-washy in my view. Adrian Gunn was a great CEO. Straight-talking. I admired that. I am not convinced personally about Wilkinson. Outlook rather tame. Integration worries for me. Share price has come off the boil. As a niche UK specialist engineering recruiter MTEC was very interesting. As a more diversified specialised recruiter across Europe, less so for me. Euro-currency and Euro-land worries, bureaucracy and employment legislation are a big factor now. MTEC did well for my portfolio and paid good dividends but the time has come to move on. Have today liquidated all my holdings, despite increase in dividend. Good luck to all holders. ALL IMO. DYOR. QP
27/1/2015
15:52
nehpets81: Should we be concerned about the gradual deterioration of the share price here? I f anything news from MTEC's peers has been pretty good
06/1/2014
10:20
quepassa: Last year I nominated Matchtech as my personal Hidden Gem of The Year on Aim for 2013. The share rose over the year from around 220p to the current 570p whilst at the same time spinning off some very attractive growing dividends. In my view the prospects for MTEC remain very bright indeed given the undoubtedly strengthening UK economy and employment scene. The demand for specialist engineering recruitment services should continue to rise significantly further against this favourable economic back-drop. My view is that MTEC share price will continue to progress and I will remain invested. Still finalising my personal Hidden Gem of the Year on AIM for 2014. An initial strong candidate is advisory firm Cenkos who have been performing strongly. As recently as 4th. December, Cenkos issued a Trading Statement which said that "Our out-turn for the year to 31 December 2013 in terms of revenue and profits is expected to be materially ahead of 2012's results and our previous expectations. We continue to increase the size of our corporate client base and have a healthy pipeline of work for Q1 2014". The yield on Cenkos is currently a very generous 5.05% and, in my view, there is a HIGHLY LIKELY prospect of significantly increasing dividends. I have posted about this on the Cenkos board and have referred to this "materially ahead" Trading Statement as a " wake up and smell the coffee " trading statement. Cenkos specialise in corporate advisory and flotations - mainly for SME's and have pulled off a whole string of flotations on AIM recently at a time when this sector is absolutely booming. And of course, AIM stocks can now be included in ISA's. Just mentioning this as an aside to the outperformance which has been enjoyed and which hopefully will continue to be enjoyed by followers of highly-regarded MTEC. ALL IMO. DYOR. QP
17/10/2013
08:58
quepassa: The management incentivisation scheme for Matchtech as laid out in the Directors' Remuneration Section of Matchtech's 2012 Annual Report makes fascinating reading and is not to be ignored. It ensures, in my view, that several of the important performance criteria are based on continuing share price growth. This is excellent. It brings together the interests of shareholders and management. Of its type, this incentivisation scheme is excellent. Herewith some extracts:- Remuneration Policy The objectives of the Group's remuneration policy are to attract, retain and incentivise management with the appropriate professional, managerial and technological expertise to realise the Group's business objectives, and align their interests with those of shareholders. The Group strives to link payment to performance and thereby create a performance culture. In my view, such schemes give management an enormous incentive to look after the interests of shareholders. The better shareholders do, the better management does! ALL IMO. DYOR. QP
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