Interquest Share Discussion Threads

[interceptor2] 23/6/2011 16:42

Well timed purchase cfro, RNS released at 16:19 today stating the CEO has brought 208k @ 62.5p by subscribing directly from InterQuest due to a lack of available stock in the market.

By the time I noticed the RNS I had 3 minutes to purchase some more, not a chance. Maybe I should send an E Mail to the company asking if I could also subscribe for shares directly from ITQ, due to the timing of the RNS giving me no chance to buy in the market!

See RNS contents below....

IT staffing specialist, InterQuest Group plc (AIM: ITQ.L), announces that Mark Braund, the Chief Executive Officer of the Company, today subscribed for and was issued and allotted 208,000 ordinary shares of 1p each in the Company ("Ordinary Shares") at a price of 62.5p per share (being the mid market closing price of an Ordinary Share on 22 June 2011) . Mr. Braund chose to subscribe for these Ordinary Shares directly from InterQuest due to a lack of available stock in the market.

Following this transaction, Mr. Braund has an interest in a total of 375,000 Ordinary Shares in the Company, representing 1.17% of the Group's total issued share capital.

[cfro] 23/6/2011 13:28

After giving this a tremendous amount of though the past couple of days, i have decided to buy back all my shares i sold a few days ago.

Yesterdays earnings enhancing acquisition looks pretty tasty and this now makes ITQ look stupidly cheap on forward PE's of 6.6 and 5.44 for next year.

Bound to be some softening in certain aspects of the UK market but im hoping that any shortfalls can be made up elsewhere. Contract Connections should help bring in new lines of work and the chairmans statement last month was as a matter of fact extremely bullish about prospects going forward.

So imo this cannot be ignored as a serious investment opportunity.

[interceptor2] 23/6/2011 08:24

Company broker Finncap updated forecast yesterday, and increased 2012 to reflect the acquisition.

2011 = PBT, 4.3m and EPS, 9.4p
2012 = PBT, 5.3m and EPS, 11.5p

This gives a PER of 6.65 and 5.44, and a PEG of 0.11 and 0.26, STAF per is 9.32 and 8.58.

ic2...

[cfro] 22/6/2011 18:21

Looks an interesting acquisition, i agree ic2. Watching this with great interest and still have my handfull of shares.

[interceptor2] 22/6/2011 08:38

Just made a quick calculation to see how earnings enhancing the acquisition will be. And net margins for the acquisition last year would = 5.6% against 1.6% for ITQ last year, or 2.7% (historic high)

Contract Connections = Revenue £10.0m, PBT £0.750m - 25% corparation tax (new 2012 rate)

Singapore or Hong Kong announcement soon?

ic2...

[interceptor2] 22/6/2011 07:37

Nice earnings enhancing acquisition.

[death by donut] 17/6/2011 08:01

Apologies , not with it at the moment , my mind wondered onto LRD and I typed my thoughts here.

What a Donut :0)

cheers

DbD

[death by donut] 16/6/2011 19:36

Ty Paleje , duly noted currently sat on a 43% profit with STAF and thinking about top slicing. However , I just like the whole feel about the share tbh , eps growth , pe , div etc, trying not to get greedy but i just feel this one has a little more to give over the next couple of years.
Could be wrong as I'm no expert thats for sure , just a small PI with a sipp who doesn't want to sell out too early.

With regard LRD I feel that having turned down the offer straight away mr market may well drag the price back down again. Again just my feeling but given where the market has been pricing this recently , I may well get another bite lower down. More than happy with my profit on this for now though and I hope it carrys on for others still holding. But at 188p the p/e stands at 14.7 for '10 , 11.5 for '11 and 9.6 fpr '12 , with those numbers it wouldn't come close to my criteria on my screens and apart from the offer today nothing else changed in terms of eps forecasts i believe. I'm just taking the jam that I bought originally 3 mths ago with a 1-2 yr view, today.

Staf on the other hand is still inside my limits and even more so if the 37p eps is to be believed.



Cheers

DbD

[paleje] 16/6/2011 10:05

DbD, keep watch on STAF, their new 'partners' HMG are going to want them to turn round some unemployables and it will be difficult not as straightforward as everyone seems to think imo, I hold but less.

Relevant to ITQ, a small snippet from a recent STHR feedback - their UK headcount is expected to double by end 2012 their IT, banking and pharma all reporting strong demand. So some are bullish about the UK, but from STHR's recent share movement the market might not believe them.

[death by donut] 16/6/2011 08:10

Sold my VERY small holding , I think this one may tread water in comparison to my STAF holding. Luckily I made a small 5.3% profit after taking costs into consideration , more luck than judgement I think. Didn't like to do it it as I'm trying not to trade too much.

Back on the hunt again for somewhere to put the proceeds.

GL to all though and see you on the STAF bb

Cheers

DbD :0)

[interceptor2] 15/6/2011 14:13

Agree the Pizza Hut snippet was a tad silly, maybe it was of more interest to Manpower. As for the strength or weakness of the UK economy, sentiment seems to change monthly. So all I try to do is invest in sectors that seem strong like Engineering and Manufactoring, but also ones that have strong export markets.

I think ITQ should do well in their markets but until the next statement it is hard to know. But as I don't know and wish to keep a small position here, I will just hold for now but with a S/L at a generous distance away.

BTW - UK unemployment rate today seems inline with forecasts.

It's strange that my portfolio yesterday had it's first overall negative result when the indices were stronger. Yet on the previous 6 negative index days it did very well. First time I have noticed such a difference in performance.

But not complaining.

ic2...

ps - Good timing with exit from ams cfro :o)

[cfro] 15/6/2011 09:24

Im holding just a tiny token shareholding in ITQ just to keep me interested and following the recruitment market.

The unemployment figures due to be realised soon could be quite telling. I suspect that Manpowers Mark Cahill may be made to look a tad silly. From what im hearing the jobs market (in the UK) is deteriating quite a lot.

There is growth in the UK with the manufacturing sector showing excellent growth albeit growing from a very small base. IT is also a growth area where ITQ operate. But i fear the finacial sector are likely to struggle for a good few years yet.

Without overseas expansion ITQ are clearly going to find it tough going forward.

And that Pizza hut snippet at the end of the article is a bit silly if you ask me. Everyone i know hate Pizza hut as they find it expensive for a family and the serive is very poor. Everyone i know prefer Domino's. And 5000 jobs in the next 9 years is not exactly going to soak up any loose supply when we have 2.46Million out of work is it?

[interceptor2] 15/6/2011 07:53

BTW UK unemployment figures released at 09:30 today, Manpower state "I don't think we'll get back to 2.5million again." hope they are right.

Agree that international expansion would a positive move, and it certainly looks likely soon imo.

ic2...

[paleje] 15/6/2011 07:12

Yep, saw the Manpower view for Midlands and North. I'm still a fan of ITQ, they've proved they manage changing circumstances well but I'm not confident about the UK. Recruiters with overseas business all show the UK lagging, it would be good if ITQ joined them, might happen.

[interceptor2] 14/6/2011 21:59

Just came across this from simon gordon on the cr thread, and shows how there are always conflicting reports from month to month.

The Sun - 14/6/11:

ONE of Britain's biggest recruitment firms claims unemployment has peaked.

A report out today says prospects in the jobs market are the best for three years.

Manpower adds the jobs drive is being powered by an army of small firms in the Midlands, the East of England and the North East. The biggest boost has been in finance, banking and business services. Manufacturers are also hiring more staff.

Figures last month showed 2.46 million Brits were out of work in March. But Manpower's managing director Mark Cahill said: "I don't think we'll get back to 2.5million again. And I don't think we'll get anywhere near the three million people have been talking about."

Mr Cahill said he had not seen any sign of the huge redundancies in central government feared by union bosses.

He claimed his firm was "confident the private sector can fill the gap" if the predicted job losses occur. The jobs market has been a bright spot for Chancellor George Osborne in a torrid recovery. While growth has trailed Europe's strongest nations, unemployment is lower than expected.

Philip Shaw, of City stockbroker Investec, said last night: "We may be going through a soft patch in the recovery now, but employers are looking to hire."

Pizza Hut yesterday claimed it will create 5,000 jobs by 2020 in an expansion of its delivery arm.

[interceptor2] 14/6/2011 21:40

paleje - good of you to highlight the article, it all helps to form an opinion of the sector. I only have my initial holding in ITQ, so I will hold for now until the next trading update before deciding to add or sell.

ic2...

[cfro] 14/6/2011 10:00

Thanks for that article paleje. Unfortunately i read it as quite bearish. Obviously it is going to be hard for ITQ to grow with the city throwing out so many jobs. The economy to me looks like its going to have another leg down overall soon, so with that new set of eyes i have decided to play safe here and sell half my small holding. I will run the rest for the time being.

[death by donut] 27/5/2011 23:02

Well , I'm a happy bunny too , lucky tbh tho that I noticed that drop the other day to get in at 59p , still got to have some luck now and then. :0)

DbD

[interceptor2] 27/5/2011 22:28

AGM looked very positive too me, and contained all I could have hoped for this early in the financial year.

Ditto cfro comments, only have initial small holding here but now will look to add more shares, as I become more confident about future prospects.

ic2.....

[stegrego] 27/5/2011 13:10

Took a few here, looks good for a decent rise.

[cfro] 27/5/2011 09:10

What a fantastic statement tho eh?! ;-)

On the acquisition trail too and trading for industry is looking very good.

Share price acting well too! :0))

Will look to add more now when funds alow, as i can feel more comfortable and confident in holding a bigger position here now.

[wjccghcc] 27/5/2011 08:31

It is and always has been extremely illiquid. That's the main drawback with ITQ.

[paleje] 27/5/2011 08:26

Can't buy online at the mo at least not with halifax.