Impellam Share Discussion Threads

[bozzy_s] 30/3/2011 15:19

Very nice, banked 40% profit in a few weeks here. Good luck holders......

[hjfe] 30/3/2011 14:52

Dods is starting to do the same - also Ascroft & co. Something afoot here?

[stegrego] 30/3/2011 14:45

Bid or just rerating?

[bozzy_s] 29/3/2011 18:00

Decent run continues. Still cheap at historic P/E of 7 and minimal debt on balance sheet. Forward P/E of 5. Turnover next FY should be £1.2bn+ / net profit £30m vs market cap £150m.

I like the timing of this run too, as you'd expect some long term profit taking close to tax year-end.

[dixies] 28/3/2011 18:43

Perhaps they have added it to their portfolio - they hinted as much last month.

[stegrego] 28/3/2011 18:37

That was 2 weeks ago though!

[bozzy_s] 28/3/2011 15:05

Excellent!

[mattjos] 28/3/2011 14:11

tipped in SCSW. Described as C-H-E-A-P

[bozzy_s] 28/3/2011 13:47

Have these been tipped somewhere? Nice to see the excellent form since last week.

[mikeja] 25/3/2011 16:07

Second leg up should take them to 320p in short order.

[spot1034] 16/3/2011 09:04

Anyone else holding these in a Selftrade account? Mine are currently priced at £258.50 per share - putting my total holding over £2m!

They can't get me that price in the market though!

[glasshalfull] 15/3/2011 18:58

Always good to keep some cash back for days like this.

Thanks steg and jakleeds for flagging initially with the weekends SCSW reminding me how undervalued these were even before today's fall.

Regards
GHF

[cb7] 28/2/2011 15:15

with IPEL on a prospective p/e around 5, a potential buy has to be cheap in order to be earnings enhancing!

[stegrego] 28/2/2011 12:53

Talk that IPEL are sniffing around HLO. Probably just speculation.

Not sure thats a good thing or not, I suppose it depends on what they pay.

[horace678] 17/2/2011 21:16

yes, acquisitions are referred to. Conversely, Ashcroft *always* sells off in the end, i.e. when the company is ship-shape and debt-free, thereby taking the cash and moving onto the next turn-around situation. So I anticipate that in a couple of years time, IPEL itself will be sold off. I take as a model Onesource, sold off in October 2007. Then, the final price was just over twice the shareholders' equity - on this basis, the price of IPEL would be 500p+. In terms of RST, it might be too boring for Ashcroft to merge it with IPEL - he could just as much keep it separate and turn it into another acquisitions vehicle...whatever happens, it's clear that Ashcroft and his team are masters at creating value in a company - so much for being "dodgy" !

[hjfe] 17/2/2011 20:48

Horace - I stand corrected on 57%. I noticed that in the IPEL results there was direct reference to acquisitions, which made me think immediately of RST. It would be an obvious consolidation for Ashcroft.

[horace678] 17/2/2011 20:41

in fact, ashcroft owns 57% of RST and the same percentage in IPEL (via Lombard Trust), though the % amount is not exactly the same (in terms of the fractional amount over 57%). However, the similarity in % amount indicates that ashcroft could smoothly bolt the two companies together.

[hjfe] 17/2/2011 19:45

RST (another Ashcroft company) reports finals in early March (possibly Tues. 1st) - already reported as "in line with expectations". Analysts expect at least 55p (currently trading at 38p). I am expecting at least 75p before the year is out, with a few surprises. There has been speculation of an RST takeover by IPEL for some time....Ashcroft owns 54% of RST through Geraldton Services.

[dixies] 17/2/2011 11:43

Cenkos target price is 540p. If you mean earnings forecast I think it is 59.7p. This from today's Daily Mail:

RECRUITMENT firm Impellam lit up AIM with a leap of 45p to a 52-week peak of
257.5p following excellent annual results. Pre-tax profits almost doubled to £29.4m, operating profits tripled to £30.7m and net debt was slashed by a stonking £51.8m to £17.8m. New management has made huge progress in streamlining the business and analysts now forecast profits of £35.5m and
earnings per share of 59.7p for 2011.

[jakleeds] 17/2/2011 11:16

£5.40 ish :-)

[nurdin] 17/2/2011 11:10

What are Cenkos estimates for the current year? Anyone?

[mikeja] 17/2/2011 10:29

Will be well cash positive by the interims.

[horace678] 17/2/2011 09:19

The company still has a debt, but much reduced - the recent profits have clearly contributed towards this.

[nfs] 17/2/2011 03:50

and as the company swings to cash positive on the BS some hope for a divi too