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MPI Michael Page

399.00
0.00 (0.00%)
Last Updated: 00:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Michael Page LSE:MPI London Ordinary Share GB0030232317 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 399.00 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Michael Page Share Discussion Threads

Showing 501 to 523 of 625 messages
Chat Pages: 25  24  23  22  21  20  19  18  17  16  15  14  Older
DateSubjectAuthorDiscuss
27/11/2009
10:45
mpi has offices in two of the UAE states. i'm told that corporate debt is very difficult to enforce out there. does anyone have an idea on the exposure?
stdyeddy
30/10/2009
14:21
odmax; i was certainly struggling a little with that chart under the mpi assessment - turns out it's for IHG. as for his assessment that the firm wld be better off wihtout its independence, the current management wld almost cetainly disagree. the thing that puzzled me about mpi though, was why the price kept on rising despite a large sell by a main board director (about £220k on 14th oct), a lack of hiring in the wider market, the firm reducing its size (headcount - positive for cost control, negative for earnings capability) and the prospect of hmrc wanting their £35m vat back. it turns out that the event marking the zenith of the latest bull run was adecco's announcement that they were buying MPS group, of the US (MPS also owns another UK recruiter, smaller than page) and i imagine that there must have been some rumours of imminent buying that were misinterpreted by insiders or near insiders, and that they had been buying page in the mistaken belief that a bid was imminent. since the adecco/mps news broke the shares have dropped more than 10%. where next? as usual, all above is imo, check facts and dyor...
stdyeddy
30/10/2009
14:05
I found a tip on Michael Page Internation on www.UK-Analyst.com

Here it is

odmax
16/10/2009
15:09
Am shorting this one.
stdyeddy
15/10/2009
15:46
Probably because recruitment shares don't reflect "current trading" but the anticipated upturn. All the newspapers yesterday were full of bullish stories about 'the recession being over'.
jeffian
15/10/2009
15:07
Does anyone know why this share is going up? One of the main board directors just sold £220k worth according to the notice yesterday. Last time they sold they called the top of the market. How come the stock isn't diving?
stdyeddy
12/10/2009
07:29
Shorted today fully confident current trading is awful.
volvo
16/9/2009
14:24
errr...how's the short going?
h0me
27/8/2009
07:41
Think you are right bracken!
gswredland
20/8/2009
14:54
Amazing eh...still looking to short but have my long term holding. I wonder what is going on that we don't know. Bid?
gswredland
20/8/2009
13:03
LOL got to be something to this.Every indicator says sell but on it goes.No one would be buying Page in this climate, would they?.
volvo
18/8/2009
07:52
It's somewhat worse than the headline numbers - a 95% reduction in underlying profit, to sod-all of nothing, the main factor in the difference being:


NON RECURRING ITEMS (NRI)


In the first half of 2009, Michael Page International plc received GBP26.5m, net
of fees, from Her Majesty's Revenue and Customs (HMRC) relating to overpaid VAT.
Further to this, on 1 July 2009, the Group received GBP10.5m, net of fees, of
statutory interest on the refund from HMRC. These net receipts have been
included within operating profit and finance income respectively.
In March 2009, the Group filed amended claims for a further refund of an
additional GBP80m, net of fees, of overpaid VAT also covering the period 1980 to
2004.


There remains considerable uncertainty over the length of time to finalise these
amended claims and the final additional amount, if any, of overpaid VAT and
statutory interest that will ultimately be received by the Group from HMRC.



So real profitability is nil. Granted, they have £100m cash, and are not yet loss-making, but to value it now is pretty difficult.

imastu pidgitaswell
17/8/2009
09:23
Panmire (lol, typo) remaining negative but so they were on BARC:

Michael Page
Interim results
H1 results were very much as expected given the Q2 guidance in early July.
In terms of the all-important outlook statement, market conditions are
expected to remain extremely tough going into Q3, with no signs of green
shoots yet emerging. At best, the rates of decline in some markets are
stabilising. Ahead of the analyst meeting we maintain our forecasts, and
continue to believe too much has been priced in too quickly, hence we
reiterate our Sell recommendation.

! Interim results: There were no real surprises in the numbers given the Q2 guidance in
July. NFI was £178.8m, a 39% reduction on last year (-45% constant currency), with
adjusted EBIT falling 93% (94% constant currency) from £84.9m to £5.6m during the
course of the year. Headline PBT came in at £6.1m vs. our forecast of £6.5m, and
£84.1m last year, causing a 97% drop in adjusted EPS from 18.0p to 0.5p. The interim
dividend was maintained at 2.88p, while net cash stood at £99.2m vs. £94.3m at the
beginning of the year.

! Key performance drivers: Within the geographical mix, the company indicates that in
the UK (32% of NFI) there are some signs of rates of decline slowing, with some degree
of stabilisation in some disciplines. In EMEA (48% of NFI), conditions are expected to
worsen given the effects of the global slowdown being felt later vs. the UK and US,
while Asia Pacific (11% of NFI) continues to suffer given the permanent nature of
recruitment markets albeit early signs of stabilisation were also hinted at. The Americas
(9% of NFI) made a small loss with rapid deterioration of revenue streams, although in
North America the company has guided that no more headcount reduction will take
place given the action already taken. Overall trends in permanent recruitment suggest no
sustained green shoots are emerging, while pricing pressure is still evident in temporary
placements. Further overall headcount reductions have not been ruled out, and will
largely depend on future market conditions.

! Trading outlook & forecasts: The overall trading outlook remains subdued with the
company anticipating a challenging Q3. Visibility remains extremely limited, so guidance
beyond this is difficult. While the company should benefit from ongoing anticipated
headcount reductions, we think there is scope for EMEA to get much worse, which
would more than offset any fragile recovery we may see in the UK. Our headline
assumptions remain unchanged for now, as we still assume a break even position for the
company at the end of the year.

! Sell maintained: We maintain a Sell recommendation and target price of 94p. The
shares continue to look expensive to us trading on an EV/Sales of 1.5x 2009E, rising to
1.8x in 2010E vs. a mid-cycle average of 1.4x and trough multiples of 0.7x. Given the
strong run in the share price of late and lack of evidence to support a sustained recovery
in earnings, we continue to believe that the risk/reward profile remains firmly on the
negative side.

From time to time, we may offer investment banking and other services (IBS) to Michael Page. We buy
and sell these securities from customers on a principal basis. Accordingly, we may at any time have a long
or short position in any such securities. We make a market in the securities of Michael Page.

edmondj
17/8/2009
08:56
Short term punt: I am going short now, we will see.
josels
17/8/2009
07:56
yep moving ahead in a falling market. Looks good
gswredland
17/8/2009
07:50
In spite of reduced profits it is going up in a bad morning for the stock market....I would say it has had a bullish trend for some days now
josels
17/8/2009
06:50
VOLVO,

Flamboyant shorts on today?

edmondj
16/8/2009
17:15
Know Oilex and have traded it, just seems to disapoint.Try Circle Oil for 4 weeks I think you will do ok. Dyor and good luck.
volvo
16/8/2009
02:42
hey volvo, theya re predictig 25 million profit for the year which is 8p per share. so at 3.30 pe pf 40, hmm other sector layers are trading at pe 5-10

have a look at Oilex

dearydearyme
14/8/2009
16:05
addecco are too busy absorbing spring, but would hays come for MPI?
dearydearyme
14/8/2009
13:18
The screamingly obvious trading strategy is 'do the opposite of Panmure Gordon', you'd have made multiples buying Barclays, Cape, Michael Page etc etc.
edmondj
14/8/2009
12:59
well i look at that chart and its screaming to me 370 380 but i have got that much wrong these past 3 months with going against the market i'm probably way off
budevenwiser
14/8/2009
12:32
VOLVO,

Shorts here would be too painful for my financial balls, thank you!

Risk - on the upside - is a share like this being perceived as a general play on international economic recovery, and we are told there are signs in France, Germany and Hong Kong.

edmondj
Chat Pages: 25  24  23  22  21  20  19  18  17  16  15  14  Older

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