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REC Record Plc

62.00
0.60 (0.98%)
26 Apr 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Record Plc LSE:REC London Ordinary Share GB00B28ZPS36 ORD 0.025P
  Price Change % Change Share Price Shares Traded Last Trade
  0.60 0.98% 62.00 637,826 16:35:11
Bid Price Offer Price High Price Low Price Open Price
60.40 62.00 65.60 60.40 63.80
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Finance Services 44.69M 11.34M 0.0591 10.22 115.91M
Last Trade Time Trade Type Trade Size Trade Price Currency
16:35:11 UT 6,148 62.00 GBX

Record (REC) Latest News (5)

Record (REC) Discussions and Chat

Record (REC) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2024-04-26 15:35:1162.006,1483,811.76UT
2024-04-26 15:29:4961.981,7501,084.69O
2024-04-26 15:29:4762.00250155.00O
2024-04-26 15:29:4760.4084.83AT
2024-04-26 15:19:0862.952,5001,573.70O

Record (REC) Top Chat Posts

Top Posts
Posted at 26/4/2024 11:56 by nchanning
Reading between the lines Leslie's growth and tech initiatives have been a damp squib , but the core business is performing well . CTO share sale not concerning as she had probably just been fired ...
Posted at 25/4/2024 20:02 by konradpuss
Most of the important metrics have roughly doubled over the last five years. With the new management and some big shareholders who have retired, I doubt we will get to see if the company can do this again over the next five years in the public arena.

I think Lord Lee is right about the importance of dividends. The share price can go down however the market cannot take away paid past dividends.

Results tomorrow.
Posted at 22/3/2024 07:30 by cerrito
Congrats on the US100m plus on AUM.
I note that revenue this current FY will flatline over last year reflecting both the stronger pound and I assume we will not repeat the £5.8m in performance fees.
The £2.4m IT hit a bore but works out at 1.2p a share.
I have enough but for those with little or no exposure worth a look at these prices.
Posted at 09/2/2024 07:45 by robsy2
Agreed. There seem to be so many attratively priced stocks in the UK so it is hard to know which ones to own .. Even if you just look across the small pool of UK asset managers you are spoilt for choice.
I have 5% of my portfolio in REC. For me that is about right, but if I see serious weakness here, say the stock gets quoted at 60p, then I would consider buying more, if I could sell part of another holding that is trading anywhere near where I think it is worth!
Posted at 17/11/2023 09:46 by nchanning
These goals were always incredibly ambitious , if Record were to hit in them in say 3 years time , the share price would easily triple . Would be happy just growing EPS at 10-15 % annually from here
Posted at 20/10/2023 11:42 by kalai1
Record plc issued a trading update for its Q2 ended 30th September this morning. Performance fees of £1.0 million were earned during the quarter with FY-24 YTD fees of £1.5 million. AUME were US$84.5 billion, including net inflows of US$1.5 billion for the quarter. Plans for diversification through the asset management and digital asset businesses continue to progress well, albeit in places more gradually than initially envisaged. Management will give more detail on strategic progress at half-year results in November. The balance sheet remains solid with negative net debt, valuation is average with forward PE ratio at 11.5x. Share price lacks momentum. Monitor for now...

...from WealthOracle
Posted at 20/10/2023 10:21 by somerset lad
Edison's most recent note from July forecasts FY24 performance fees of £1.5m (whilst noting that their forecast is below an annualisation of the £0.5m earned in Q1). With today's £1.0m from Q2, REC has reached the FY24 forecast already.
Posted at 20/10/2023 07:21 by robsy2
It is just another 90 odd day period in the life of REC, but the results look ok to me.Resilient-ish though performance fees are down this year on last - so far anyway. 1.5m v 2.8m at this stage last year , FY23 5.8m , so they are an important part of the picture .
Lesley notes a slight slowdown in progress on new initiatives.
The expected yield now is 7.7% for the year ending 31.03.24.
I have done well trading REC over the years .I say trading, but what I mean is I always hold some REC, for the divis as much as anything else, but have noted how the share price can overreact to the regular quarterly updates.
If reaction is negative then I will probably buy more if we go sub 70p.
Posted at 23/8/2023 15:04 by cerrito
Schroders slimming by 1.5pc explains recent share price weakness.
This is only the second change of shareholding RNS since the end of last August which shows the stability of the shareholder base-the other was when Neil Record sold abit in March.
Posted at 03/7/2023 14:55 by mpage
@adamB1978. About employee share ownership. It's a bit lower than 3-5 years ago.

Personally, I wouldn't put too much weight on this aspect - apart from senior staff where it's meant to lock them in for reason of succession planning. When the only office was in Windsor, employees might have been reluctant to commute to London. But now REC has opened a London office (good!) - this will widen the talent pool available but turnover may also be higher.

Enjoying one's job, being paid well for it and not have to suffer from sociopathic line managers make for happy employees. Staff leave because of unpleasant managers, as much as anything. A growing company company will be telling its staff that there will be opportunities for advancement.

There is a bog standard (govt subsidised) Share Incentive Plan which probably accounts for the majority of that 63%. At Record, staff have to buy 2 shares to be given 1 free. These SIPs have a 5 year lock up if one wants to avoid clawbacks on NICs and Income Tax. Maximum subscription is £3,600 per year. In many financial companies, those in the know, consider SIPs to be a form of redundancy insurance. If one is made redundant and classified as a 'good leaver' then a company might potentially hand over the entire SIP contents tax free.

"The Group operates the Record plc Share Incentive Plan ("SIP"), to encourage more widespread ownership of Record plc shares by employees. The SIP is a tax‑approved scheme offering attractive tax savings for employees retaining their shares in the scheme over the medium to long term."

So how much do employees contribute annually to their Record SIP? Well, not that much (so far) as the latest AR tells us:

"As an incentive to employees, the Group matches every two shares bought by employees with a free matching share. During the year, the Group awarded 31,039 matching shares (2022: 23,309 matching shares) to employees. The expense charged in respect of the SIP was £24,950 in the year ended 31 March 2023 (2022: £18,310."

The max that a staff member could buy in their SIP is £3600x 0.66 = £2376 per year.

The AR tells us that staff(63% of 88 = 55 staff) bought 62,078 shares in the SIP or approx 1128 shares costing say 1128 x 85p or around £1000pa out of a maximum of £2376pa. That difference tells you that most employees are simply saving a regular monthly amount, rather than the max possible. That's why I say I wouldn't put too much weight on the rank and file share ownership.

Set against these purchases, Neil Record (70) has said that while he intends to be a significant shareholder for many years to come, he will also be periodically selling traches to fund scholarships (well done that man!)

Mr Record has built up a great little niche business and I'm happy to hold and see how the growth strategy pans out over the next 2-3years.
Record share price data is direct from the London Stock Exchange

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