Savile Group Share Discussion Threads

[deswalker] 24/2/2011 13:03

Looks to me like Amati Global Investors (ViCTory VCT PLC fund) have had enough and done a share swap with Brookwell Limited.

[masurenguy] 22/2/2011 17:46

The Group's unaudited revenue in the six months ended 31 December 2010 was £4.03m (2009: £4.16m) and loss before tax and exceptional items was £0.17m (2009: Profit £0.14m). Net assets at 31 December 2010 were £3.95 (2009: £4.3m) including net cash of £1.17m (2009: £3.31m).

Happy that I stayed on the sidelines here. A fall in revenue, a move from profit to loss, lower NAV & cash did not constitute a good hand at the half year. Still looking for an entry but not tempted yet !

[pictureframe] 17/2/2011 09:43

Have a look at Penna PNA they are prob the best run company in the same sector offering almost identical services to this outfit. Penna have recently issued a warning and the outlook is not good. I suspect the same will transpire here hence the sell off.

[alanrex] 16/2/2011 21:58

share price performance has been atrocious. i sincerely hope some good news next week and that the share price movements is not based on inside info!! please, some good news!!

[arthur_lame_stocks] 16/2/2011 18:21

oops forgot to account for the 7days Acquistion. So there is something of a premium for the businesses.

[arthur_lame_stocks] 16/2/2011 17:51

Well the results aren't going to be good, but that might present a buying opportunity, the business is in the price for next to nothing at the moment.

[liarspoker] 16/2/2011 16:39

Perhaps a takeover at this low price ?

[davidosh] 16/2/2011 15:41

Blimey are you all leaving me ?...Results next week

[deswalker] 26/1/2011 09:06

The RNS title says Director Resignation. Too much to hope for an outright resignation and hence no payoff ?

[deswalker] 26/1/2011 08:59

Bearing in mind that Linda Jackson is his understudy at Fairplace and she has retained her place on the Board leads one to believe that maybe he has left altogether.

He made £138k in the year to Jun 10 and £194k the year before.

[davidosh] 26/1/2011 08:53

Des...I should think you are correct in that assumption but may check the exact detail as there would be higher costs attached to him leaving completely with pay offs etc.

[deswalker] 26/1/2011 08:49

Michael Moran is the CEO of the problematic division. I wonder whether ...

The Board also wishes to announce that Michael Moran will be stepping down from the board. The Board wishes to thank Michael for his hard work during his time with the Group.

means that he's left the company altogether or just signals that he won't be involved at a Group level anymore ? I'm guessing it might just be the former otherwise the second sentence is a bit odd.

If it is the former then that's a good move by the Board IMO and shows that the restructuring is meaningful and not just playing at it.

[davidosh] 26/1/2011 08:28

I did mention a couple of months ago that I thought they needed to shed a couple of directors. I think they will get costs under control and then hopefully see the benefit of the inevitable uplift in outplacement work from the Public sector changes. At least the other three divisions are doing well.

Now we have to wait another six months to see if they really can meet expectations. If the losses for the first half turn round into meeting forecasts then that will be some achievement. Sadly less than that and confidence will be lost as there must be some very unhappy instos here who invested in that placing 18 months ago.

[liarspoker] 26/1/2011 08:15

Yes, but that's why it's so cheap.

Wait till it produces good results. ;o)

[pictureframe] 26/1/2011 08:12

Another dissapointment, seems this is the only thing the company produces.

[liarspoker] 26/1/2011 08:03

Yep, wonder how much the divi will be.

[deswalker] 26/1/2011 08:00

All sounds rather downbeat but at least they anticipate meeting expectations.

[liarspoker] 26/1/2011 07:21

26 January 2011



Savile Group (LSE: SAVG.L - news) plc ("Savile" or the "Company")


Trading Update, Director Resignation and notice of results


The Board of Savile Group plc (SAVG.L), the AIM quoted human resources consulting group provides the following update on trading for the six months ended 31 December 2010.


In the first half of the financial year, three of the Group's businesses, including the newly acquired 7 Days, have made positive contributions but the outplacement business has continued to suffer in difficult market conditions and this has resulted in an overall loss for the first six months. The expected business from the public sector has not yet materialised as decisions at both a local and central government level have yet to be finalised and actioned. The Company is aware that it may have a potential provision of £125k against an operational investment in this area. If this were not recovered it would impact on full year results.


Following this disappointing performance, the Board have carried out a thorough review of all aspects of the Group and a subsequent restructuring is under way. The Board expects a better second half to the year which will include a full contribution from 7 Days. Accordingly the Board still anticipates results, before exceptional items (largely acquisition and reorganisation costs) for the year to 30 June 2011 to be in line with market expectations.


The Board also wishes to announce that Michael Moran will be stepping down from the board. The Board wishes to thank Michael for his hard work during his time with the Group.


The Company will announce its interim results to 31 December 2010 on 22 February 2011.

[parvez] 18/1/2011 15:54

time to get onboard. just bought some

[liarspoker] 08/1/2011 12:28

Mas, as Munger would say 'I have nothing to add'. :O)

[masurenguy] 22/12/2010 14:26

Very quiet here since the 7Days acquisition 8 weeks ago !

[davidosh] 29/10/2010 18:24

My thoughts are very much in line with DesWalker and the acquisition looks a very good fit although it will add yet another board member to the already overweight top table IMHO. There are now seven executives and three non execs but that goes not only against the norm for this size of micro cap but also against corporate governance guidance and that is not sensible for a company that has a division which specialises on such advice and Board selection.

I do appreciate that some of those are divisional heads and they are fee earners within their divisions but the non execs are overpowered and confidence within the investment community needs to be regained. Is it the most efficient use of those high level fee earners could be a question too ? It was evident at the AGM as HP who I have a lot of respect for had to leave early for an important client meeting and Lord Freeman had to dash off too. Less heads and more banging together would be my vote. Peter Conroy did not attend the AGM so clearly when there are ten people to work around all these board meetings etc will become even more difficult to schedule and gain agreement on issues.

Just my honest thoughts and I appreciate these are people businesses and all will want a say in the future of Savile Group.

[deswalker] 29/10/2010 17:46

I agree. Further diversification of the share register is also good news for the usual AIM microcap reasons.

As CR keeps banging on about, often the AIM microcap market doesn't give as much weight to Balance Sheet cash as it should, so it's good to see some of SAVG's cash pile being converted into earnings which will probably get noticed by the market much more readily. I'd have preferred the cash to be given back to me but that was never going to happen at this stage and so I'm happy to see an acquisition such as this. Improving the balance of the business, creating synergies (whatever that means) and diversifying the share register all adds up to good news IMO.

[glasshalfull] 29/10/2010 17:17

Looks like a very good fit.

£1.7m buys £330k PTP with clear synergistic benefits and excellent blue chip client base.

As an aside, with Louise Palmer joining the board it is beginning to look significantly top-heavy for a company of their size.


Regards,
GHF