Share Name Share Symbol Market Type Share ISIN Share Description
Record LSE:REC London Ordinary Share GB00B28ZPS36 ORD 0.025P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +1.00p +2.33% 44.00p 43.00p 45.00p - - - 146,393 16:35:11
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 21.1 6.9 2.6 17.3 97.41

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Date Time Title Posts
24/4/201713:00Record CM - sounds like a star performer for 2008 !474.00
31/10/201616:48*** Record ***3.00
26/1/200909:12are we in danger of "talking" OURSELVES INTO RECESSION2.00
03/12/200713:04Record plc - niche player, great prospects!-
02/9/200622:47Recession - Short Candidates-

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Record Plc Daily Update: Record is listed in the General Financial sector of the London Stock Exchange with ticker REC. The last closing price for Record Plc was 43p.
Record has a 4 week average price of 37p and a 12 week average price of 37p.
The 1 year high share price is 47.50p while the 1 year low share price is currently 22.75p.
There are currently 221,380,000 shares in issue and the average daily traded volume is 362,309 shares. The market capitalisation of Record is £97,407,200.
topvest: Trading update was fine. As has been for a few years, progress on new mandates is lumpy and there is always the risk of the odd loss as announced today and in the quarter. They do still have record AUM. Currency for return and dynamic hedging are the higher margin areas. If these took off then revenue growth would be very strong. With inflation taking off, one gets the feeling that forex markets could get more interesting. I'm happy to hold. Its a quality business. As to the share price - 25p was a bargain. 50p and the price had probably got ahead of itself. Looks about right now.
walbrock82: Record PLC announces a record $58.2bn but mentioned there was a mandated termination of $1.2bn. Something to know about Record PLC; - 1. Management take home pay is equivalent 12% of total sales; 2. They also hold 50% of the company’s stock. 3. Cash balance accounts for 50% of total assets, that comes to £21m. 4. Business hasn’t grown due to financial regulation. 5. The share price was below 10 pence, now is 42 pence. 6.Despite managing more currency hedges for clients, revenue is only £20m. Compared that in 2011, it generates £28m in revenue, but manages $30bn. It is possible that lower interest rate and bond rates are causing this. The stock looks overvalued, as current valuation is close to six-year highs. Price to cash flow is at 18 times. And Earnings Yield of 5.8% means fundamentals have not caught up with market valuation.
hammers976: Robey2 you've summed up my thoughts exactly. I personally want this share price to tank in the short term!
robsy2: hmmh a bad day , off the bottom though .... hxxp:// R2
topvest: Good results and increased dividend is a bullish sign. The share price has finally broken out above 35p which has to be a chart break-out. All we need is some nice currency for return contract wins and this would go ballistic. Maybe one day!
felix99: I like the stock - happily been in a while and quite heavily. Reminds me of when CLIG was small and when it was growing its FUM and share price then took off. All this emerging mkts stuff means a lot of peeps probably lost a few quid as the noddy currencies crashed and they wished they had a hedging strategy in place. So demand should be very healthy from their target client and it should be like shelling peas pushing at an open door. These guys appear to have a good system and record for managing these issues for people - so they have a good product, good reputation, growing FUM which means other client will be far more happy to come on board ( if other people are then they must be kosher so we will appoint them and then it becomes self fulfilling) and a healthy market to attack. I reckon they should add on loads of new FUM in a relatively short space of time over next few months. The business will be operationally geared so with lots more FUM its just profit straight to the bottom line - I would imagine all they need to add are salesman and account managers. So essentially you got profit growth to boost the share price and you then have the opportunity to hit turbo as the rating multiple of the share moves up as well. They have a fair bit of cash ( 10-15p per share ) and so stripping that out, the p/e is not very big for something that made 2p last year (31 Mar 13) and is forecast to make 2.4p this year ( 31 Mar 14 )and only 2.5p for 2015. Only seems to be Edison covering them but I reckon as they are on the up the mgt might do a bit of City smoozing as well.
davidosh: HugePants...That is my point. The cash that you are basing your safety net on is dropping as it is also being used to pay dividends and prop up the company. I have no doubt that when the share price was 30p and the cash was 14p the holders did not think it could fall to 10p !! Some have sold their shares today at 10.3p and 10.6p. With bad results again it may fall lower. What is there to eventually prevent losses here if clients are all leaving. There has to be a fixed overhead level and with eps down at 1.3p forecast it does not leave much considering they made 4p last year. At some point I would like to assist investors here as I have a real distaste for excessive remuneration. How long have you all been shareholders here and has anyone engaged with the directors as you seem to agree that the remuneration is not the right one for this climate and economy and stated that they are massively overpaid ? They will not change unless YOU as shareholders act !! Investors like me do not want to invest if we see excessive greed and a remuneration scheme rewarding long term failure ! The bonus should only be activated in full if profits increase and far less commission paid to staff if they cannot at least match the previous years sales. Look at the does not give confidence to investors !
hugepants: I don't think anyone is arguing this has been a hopeless investment and the directors are massively overpaid given the share price carnage they have presided over. They should probably all resign. However its going to be pretty difficult for the share price to drop any lower given the balance sheet and the fact the company is still making money. Your 6.5p forecast looks a bit ridiculous. The directors salaries have fallen roughly in line with the decrease in profits. OK they are still stupidly high but at least the company is still profitable. Also the cash has dropped because its all been paid out in dividends.
davidosh: HugePants stated... Bottom line is REC have 9.7p per share net cash plus a further 1.8p of investments in their own funds. That compares with current 11p share price. The balance sheet puts a floor on the share price IMO. For NEXT year forecast earnings year of 1.3p (PER of 8.5) and forecast dividend of 1.5p (yield 13.5%) HugePants, You seem to feel comfortable that all the key metrics are falling. I guess you invested much higher and think that the dividend is great whilst losing such huge chunks of capital ? Lets look at the cash you mention from the last three results... H1 to Sept 2010....£27.1m (interims) H2 to March2011....£24.7m (finals) H1 to Sept 2011....£19.6m (interims) H2 to March2012.... ??? We will not know until June but those cash reserves are depleting rapidly so your 9.7p of cash that was 14p of cash in 2009 is not quite the floor that you suggest hence the share price is following it downwards !! As for that dividend ! In the last finals the company paid out 4.6p in dividends but had only 4p of earnings. The missing 0.6p has to come from somewhere and it certainly did nothing to support the share price other than sucker a few more very temporarily into the company thinking it was a great income stock forgetting it is also the markets worst capital appreciation stock !! The company and the brokers look like suggesting the same trick again next time with an uncovered dividend payment if you look carefully.... 'For NEXT year forecast earnings year of 1.3p (PER of 8.5) and forecast dividend of 1.5p (yield 13.5%)' Is there a charity covering these extra payments or is that another notch downward for the cash reserves ?? Last five years eps and projection are horrific reading 2008..12.6p 2009...8.7p 2010...5.4p 2011...4.0p 2012...1.9p (forecast) 2013...1.3p (forecast) Earnings are halving every year so that is why the share price is collapsing. Meanwhile check out the directors remuneration and tell me how many millions have been paid out in that same period and at what point they are going to spend their loose change and take it off the market at 5p. There needs to be major changes here as I highlighted and the best start would be the headline figures and remuneration policy. If the company is currently trading on a multiple of 5x eps whilst forecast to do 1.9p then it will probably trade at 6.5p when 1.3p becomes reality. Why did this company ever float in the first place ? Only 25% are held by outsiders and they have been mugged from day one. If these are so cheap now surely Schroders would buy every share available to add to their 6% but NO ! If you were getting paid a million a year whether the company improves earnings or collapses them then would you want change ??
hugepants: It needs an increase in clients and revenues then hopefully a turn in profit allied with a change in remuneration policy before investors will look sensibly here for an investment IMO. By the time all these have happened the share price is 50%-100% higher. Bottom line is REC have 9.7p per share net cash plus a further 1.8p of investments in their own funds. That compares with current 11p share price. The balance sheet puts a floor on the share price IMO. Forecast earnings for this year is 2p and forecast dividend of 1.5p. For NEXT year forecast earnings year of 1.3p (PER of 8.5) and forecast dividend of 1.5p (yield 13.5%)
Record Plc share price data is direct from the London Stock Exchange
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