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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Staffline Group Plc | LSE:STAF | London | Ordinary Share | GB00B040L800 | ORD 10P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.05 | -0.20% | 25.45 | 25.00 | 25.90 | - | 583,397 | 16:35:24 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Management Consulting Svcs | 940.5M | 3.8M | 0.0229 | 11.14 | 42.27M |
Date | Subject | Author | Discuss |
---|---|---|---|
28/3/2024 14:29 | Anyway. STAF look pretty good value to me at these prices, GLA all long and short term holders. | hamhamham1 | |
28/3/2024 14:20 | All good points. For me it's the opportunity risks while I sit and hold. I like CPI (former AWS man took over) and MTRO (Colombian Billionaire took over and is building a formidable team - including ex-Barclays man), as recovery plays too. Fingers crossed! | the imperialist | |
28/3/2024 14:18 | I did hold ITV but sold after recent rise. VOD, sim to BT, but only wanted one, I like BTs varied fingers in pies in UK. But VOD I can see as well. | hamhamham1 | |
28/3/2024 14:15 | Yeah MARS is a hard one, but 2 reasons I still hold them. 1. Net Asset Value of approx 90p a share, after debt. 2. The joint Calsberg brewing company, look at the PBT and divis received this year from that enterprise in last EoY RNS. But are pubs in favour currently, not sure. Anyway will continue to hold. Can't tell you how many shares I held, got bored, sold, only to see them go up. But that's investing, just gotta make 2 or 3 good calls for every one bad-ish one IMO. Bad calls are unavoidable and need to be taken on the chin and importantly, learnt from. GLA. | hamhamham1 | |
28/3/2024 14:08 | Thanks. I dumped MARS this morning. Chart-wise it looks ok, but 1.xBN debt worried me. You not interested in VOD or ITV? Both going through huge buy-backs. | the imperialist | |
28/3/2024 14:04 | Current.... AAF, AGFX, BRBY, BT.A, CABP, CBG, CMCX, CRST, COST, DOCS, EZJ, FDM, FSJ, HFD, JD., MARS, OTB, PSN, PZC, RNK, SDY, STAF, TPK, WG. | hamhamham1 | |
28/3/2024 13:58 | Down to dirty 24/25 at the mo. Had a superb run with CMCX and SPT over past 4 months, sold most CMCX now and all of SPT. | hamhamham1 | |
28/3/2024 13:55 | Good lad. Are we in a position to share the Dirty 30? It's a safe space. | the imperialist | |
28/3/2024 13:02 | An excellent investment choice if I do say so myself. | the imperialist | |
28/3/2024 12:53 | Just bought about 43k x these av of 25.6p- ish. 50p my 12 month target. | hamhamham1 | |
27/3/2024 21:59 | When buying will start we will climb up… atm it’s selling for 🥜 | edukelis | |
27/3/2024 21:51 | 550000 number | gripfit | |
27/3/2024 21:51 | Do u not mean bought ?? Ie somebody has bought them for 25p? | gripfit | |
27/3/2024 18:59 | 600k sell after hours, never ending selling | edukelis | |
24/3/2024 09:16 | Company in the best position it’s been in years, hours are up, perm margins in Ireland up, new solid contract wins people plus holding this back from explosion, waiting to see what share of 320m they will get that’s can be the catalyst. inertest rate cuts in June, exiting H2 expected! I bet company ain't gonna wait that long and will start buybacks in few weeks time to clear the last shorters remaining! 50p in 2024 let’s go! Get your milk cup 🥛 filled smelly! | edukelis | |
23/3/2024 17:46 | Must be due a spike smelly🤓 | gripfit | |
23/3/2024 17:25 | Errrr yeah 🤣 Nice chart🫨 😃🤣 | qsmeily456 | |
22/3/2024 17:09 | Need to get pass 30p Asap, 20’s not right at all | edukelis | |
22/3/2024 16:19 | Aberdeen selling .. | gripfit | |
22/3/2024 14:29 | great read, thanks for sharing. | edukelis | |
22/3/2024 14:09 | Zeus- Robust results Staffline’s FY23 results present a resilient trading performance throughout tough market conditions. FY23 Adj. EBIT of £10.3m is 2.0% ahead of the £10.1m we forecast and, impressively, is broadly in line with our original £10.4m estimate set over a year ago in January 2023, testament to the Group’s resilient model and strong cost control. The Temp recruitment business has renewed key contracts and gained market share, and, whilst Perm activity has been softer YOY, Staffline has outperformed the wider UK market. Continued trading resilience and strong cash generation reaffirms our view that Staffline’s shares are deeply undervalued. FY23 results: Staffline’s FY23 results were well flagged in a trading update earlier in the year. Group revenue from continuing operations increased 1.1% to £938.2m, with Group gross profit 1.5% lower at £80.8m, driven by a change in mix as the Temp business took market share but there was weaker demand for the higher-margin Perm business. Group underlying EBIT declined 14.2% from £12.0m to £10.3m and conversion from GP to OP fell 1.9pp to 12.7%. However, these figures are broadly in line with our estimates set at the start of FY23 (EBIT: £10.4m), which we view as a robust performance considering prevailing market conditions and the poor performance of larger peers (see below). The reported figures include one-off costs for the closure of the in-person skills training business of PeoplePlus, including an £8.9m noncash goodwill impairment. A highlight of results was the strong net cash position of £3.8m (ex. IFRS 16 leases), which was £7.3m ahead of estimates prior to the trading update in January, despite £5m spent on share buybacks in FY23. The balance sheet strength facilitated a renegotiation its banking facilities on improved terms, expected to lower borrowing costs. Labour market: The latest UK labour market data showed very slight signs of softening in measures such as the number of job vacancies and wage growth, but continued tightness through measures such as a low unemployment rate (3.9%). Although, by the ONS’s own admission, Labour Force Survey estimates should be treated with caution due to small sample sizes. We continue to think that there remains underlying strength in the labour market by historic standards and this indicates the potential for a sharp recovery for UK recruiters once confidence improves and labour market activity accelerates. In our view, Staffline is well placed to benefit from this recovery. Staffline outperforms larger UK peers: Staffline’s results compare favourably versus the UK reporting segments of its large cap recruitment peers. Robert Walters’ FY23 results showed an 18% decrease in UK NFI (16% of the Group) and a -0.7% conversion rate from NFI to EBIT. PageGroup reported UK NFI down 16.4% in FY23 (12% of the Group) and a -2.2% conversion rate. This supports our long-held view that Staffline has a resilient, diversified business model that can outperform through downturns. Forecasts: Encouragingly, Staffline has had a good start to FY24, with Temp recruitment hours up 5.5% in the first ten weeks and the pipeline for Perm at record levels in Ireland due to recent contract wins such as with the RoI’s Garda. Having adjusted forecasts for FY24 and FY25 earlier in the year (see 24 January research), we leave trading estimates unchanged today. EBIT in FY24 is expected be lower than FY23 due to several profitable PeoplePlus contracts that have now finished. However, there is a large (c. £310m) outstanding bid pipeline for PeoplePlus, which could have a positive impact on FY25 and future years if successful. FY26 estimates are introduced showing a sequential recovery in each division. Valuation: Trading on 4.7x FY24 EV/EBIT, Staffline continues to be at a steep discount (46%) to the average of its UK recruitment, UK outsourcing, and international temporary staffing peers (8.8x average). With Staffline’s resilient, diversified business model and longstanding blue-chip client base, we think this discount is unjustified. The £5m spent on share buybacks during FY23 demonstrates the Group’s cash generative nature. We remain comfortable with our DCF valuation estimate of 52.5p per share, representing 94% upside to last night’s closing price. | davebowler | |
22/3/2024 13:07 | Since 4th January Schroeder have gone from 9.25% to 14.96% So if Schroeder picked up 3.3m this week, who picked up the other 1.7m?? | casholaa | |
22/3/2024 08:18 | Indeed but, even with today's update the combined rns's raise their holding by circa 2.21% - the rest of my maths may be off. | casholaa |
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