||EPS - Basic
||Market Cap (m)
Real-Time news about Michael Page (London Stock Exchange): 0 recent articles
|jeffcranbounre: Michael Page is featured in today's ADVFN podcast.
To listen click here> http://bit.ly/ADVFN0106
In today's podcast:
- Alan Green CEO of TradersOwn.co.uk will be chatting about Quinell, Tesco and Entertainment One. Alan on Twitter is @TradersOwn
- And the micro and macro news including:
Entertainment One #ETO
Michael Page #MPI
Spire Healthcare Group
Standard Chartered #STAN
Ashmore Group #ASHM
Big Yellow Group #BYG
UK Mail Group #UKM
Carr's Milling Industries #CRM
Cineworld Group #CINE
Every Tuesday is Ten Bagger Tuesday on the podcast. If you know of a stock, whose share price has the potential to increase ten fold, just click the link below.
Ten Bagger Tuesday
(All it involves is filling out a form that will take you around 5 minutes and you don't personally appear on the podcast).
Once a week, on a Friday, I feature a tip from a listener to this podcast, if you'd like to suggest a stock click the link below:
Suggest a stock
(Again all it involves is filling out a form that will take you around 5 minutes and you don't personally appear on the podcast).
You can subscribe to this podcast in iTunes by clicking HERE
To follow me on Twitter click HERE
As a listener to the ADVFN podcast you can take advantage of some exclusive first year discounts on popular subscriptions:
Bronze - £50 (normally £73.82/year)
Silver - £145 (normally £173.71/year)
Level 2 - £350 (normally £472.94/year)
Call 0207 0700 961 and ask for the ADVFN Podcast discount to take advantage of these reduced rates or just CLICK HERE for more information.
Please DO NOT buy any stock recommended in this podcast basely solely on what you hear. The opinions in this podcasts are just that, opinions. Please do you own research before investing.
|daz: The share price is recovering, it's moved up strongly in the last 5 minutes probably because of the presentation they are doing, augurs well for the rest of day.|
|bobsidian: Astonishing share price collapse.
Noteworthy that the 61.8% Fibonacci retracement of the entire move up from the October 2008 low to the April 2011 high is at the share price of £3.18.
Amazing to see the speed with which share prices can fall to wipe out in days gains generated over many months.|
|veg man: performance up share price down,why.|
|veg man: Yes excellent results.Lets hope we will see a steady increase in the share price as a result.|
|edmondj: Panmire (lol, typo) remaining negative but so they were on BARC:
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
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.|
|volvo: jeff you mention Harvey Nash, the figures yesterday were good hence there is a good reason.
Michael Page is globally exposed and europe in toast, and will report awful sales and the share price will not just continue.|
|underhill2: With the share price now moving below 360p maybe the
Market now thinks Adecco will not proceed with any form
of firm offer ?
An offer in the region of £6 looks very unlikey. If any offer
is forthcoming can see it being pitched at around £5|
|liarspoker: Well I am still holding both MPI & RWA and am glad that I am.
Share price should be radically higher for both in a year or two or three imo.
Collect the divi and just sit back and relax. :O)|
|crosswire: Michael Page rides out credit squeeze
By Maggie Urry
Published: January 8 2008 09:17 | Last updated: January 8 2008 09:17
A softening in the recruitment market in banking affected fourth-quarter trading at Michael Page International, but on Tuesday the group nevertheless reported a record gross profit for the quarter and for 2007 as a whole.
Fourth-quarter gross profit rose 37.6 per cent to £128.2m, while the full-year result was up 37.1 per cent to £478.1m.
Ingham, chief executive, said that while there was some weakness in specific banking sectors in the UK and Asia, there was no sign outside the banking sector that economic uncertainty was affecting the group's activity levels.
"I'm not burying my head in the sand we are very, very mindful of the news," he said. "At the end of the day we are still producing good results."
With continued demand for talent around the globe, he remained confident about prospects.
In common with other recruitment companies, Michael Page has seen its shares fall sharply since the credit squeeze spread last summer, with the shares down from a high of 606p. In early trading on Tuesday the shares were up 10.1 per cent or 25p to 273p.
Mr Ingham said that in the fourth quarter the group's banking business was flat, whereas in the first half of the year it had been up by more than 20 per cent. However, banking represented only 7 per cent of group revenues, and 10 per cent of the UK business.
Even within banking, recruitment of back-office and temporary staff was unaffected, he said, with the weakness confined to high-profile, front-end employees where the biggest fees were earned.
Michael Page slowed the rate of increase of its own staff in the fourth quarter, adding 275 people, an increase of 5.8 per cent, taking the total at the year end to 5,052.
Strong growth continued in the group's largest region of Europe, the Middle East and Africa, with fourth-quarter gross profits up 55. 9 per cent to £57.7m, and a similar percentage rise for the year to £196.5m.
UK gross profit growth slowed in the fourth quarter, up 15.6 per cent to £38.9m, leaving the total for the year up 19.4 per cent at £155.8m.
In the Asia-Pacific region, fourth-quarter gross profits were 30.6 per cent higher at £14.8m and up 27.3 per cent for the year to £57.2m. Gross profits from the Americas rose 81.6 per cent to £10.7m for the final quarter while the annual increase was 78.9 per cent to £38.4m. The group opened an office in Buenos Aires in December, making Argentina its third country in Latin America.
Ian Jermin, analyst at Landsbanki, said the figures were better than he expected while the statement was upbeat. "Such a result and statement does not sit well with the 60 per cent fall in the share price since July and ought to result in a strong bear squeeze this morning," he said.
David O'Brien, of Altium Securities, said that while the figures were good and he was recommending the shares as a "buy", he was shading his profit forecasts to take account of the extra costs from the rising headcount.
Copyright The Financial Times Limited 2008|
Michael Page share price data is direct from the London Stock Exchange