Interquest Share Discussion Threads

[papalpower] 02/4/2007 17:25

Reg, results were out a couple of days ago.

Link below :

[boringreg] 02/4/2007 17:22

Should be getting results around about now - it will be interesting to see how they've been trading. I still expect them to say something about acquisitions - in the pipeline and/or more generally. They know how to sweat profits out of their acquisitions - luvverly jubberly.

[papalpower] 03/3/2007 05:23

Reg, will be interesting now in March, especially as its nearly a 3 bagger since May 06. Bound to be a little more profit taking imo, but its still lowly rated.

[boringreg] 26/2/2007 13:14

As ITQ has the lowest P/E Ratio in the sector interesting news from RWA in advance of ITQ results at the end of March. RWA suggests a bouyant sector

Robert Walters says market conditions 'favourable', FY pretax up 56 pct UPDATE
AFX


(Adds comment, detail)

LONDON (AFX) - Professional recruitment consultant Robert Walters PLC said current market conditions remain 'favourable' as it reported a 56 pct increase in full year pretax profit.

In a phone interview this morning, chief executive Robert Walters told AFX News there is an 'unheard of' shortage of professionals around the world at present, with roles becoming more specialised. 'Market conditions are extremely favourable across the board,' he added.

The company posted a pretax profit of 19.8 mln stg for the year to December 31 compared with 12.7 mln stg a year ago and ahead of expectations, with revenue from continuing operations increasing to 274.5 mln stg from 234.6 mln stg.

Finance director Ian Nash told AFX News the operating margin stood at 17.9 pct, up 3 pct year-on-year, and could reach 20 pct in the near future. Analysts said the margin continues to widen as scale-factors act, but still is well below the 26 pct level attained in 2000.

Robert Walters said it remains confident of further growth and plans to follow its strategy for growth by progressively increasing headcount, expanding existing businesses and opening new offices.

[boringreg] 22/2/2007 11:44

And, as far as acquisitions are concerned - what about Glotel (GLO) - becalmed for a while now - after profits warning. Might be a good target - all or part - to fit into the ITQ empire.

Just speculating - don't know - but could be a nice one - currently trading about 50% of what it was trading at this time last year.

Very illiquid and tightly held stock - so it could be worth getting a few of both ITQ and GLO (like I have done :)))

Boring Old Reg

[boringreg] 14/2/2007 13:46

I have every confidence in these guys. We were joined, for a short while, by the short term traders looking for their 10% - I suspect they have gone now - some with a profit many without. Que Sera - they have their methods I have mine. To be honest I am happy that it's settled back to this new trading level - just in time for the run up to results and, perhaps, that acquisition that I'm sure they are in the process of negotiating. May be wrong, of course, but it's the way Ashworth works - growth by acquisition plus organic growth through rolling out a succesful money making model.

Best of luck to the long termers - cos there must be more than the few who have posted on here. Remember that these are very tightly held - with very few available to the likes of us. The effect is explosive once buying/selling takes place.

I expect us to get an announcement soon of when the results are due - my guess is end of March.

[dusky dolphin] 13/2/2007 14:07

Thanks p p hopefully we'll be able to move forward again very soon then. >

[papalpower] 13/2/2007 09:57

Looks like the buyers have been filled, and now the MM's are lowering the price as short term traders take profits on the recent gains........

[dusky dolphin] 13/2/2007 09:38

PapalPower,, what's happening here ??

[boringreg] 09/2/2007 13:38

Most of the 10% skimmers have probably gone now - off to get a thousand shares of something else - fair do's - plenty of room for all sorts in the market. The intriguing one is the 25k buy and sell yesterday and today. Looks as if they came in and out at 145p. Way above NMS so it was confusing to see it either way...... the plot thickens. [EDIT Not so, the 10k trade - he made a few skimming yesterday and today]

[boringreg] 09/2/2007 09:16

I'm not complaining - gets us closer to the £2 mark - which I'm beginning to think might be a bit conservative - even in the short term. Mine are in the pension pot so maybe I should just leave them to grow nicely over the next few years :)

[papalpower] 09/2/2007 09:03

Maybe SCSW whose Feb edition comes out tomorrow ? Something is certainly providing the boost for ITQ at present.

[boringreg] 09/2/2007 08:55

Yup - still looking good - I'm wondering if they may be getting some weekend coverage by the broadsheet tipsters. We all know those journos leak like seives over their G&Ts - and slyly mention to their mates that they are writing a piece on "this unnoticed little beauty" - shame I don't know any journos :(

[papalpower] 09/2/2007 08:32

Well Reg, we are off upwards again today............. :)

[boringreg] 08/2/2007 16:01

They're probably going into their closed period fairly soon - final results were end of March last year and, if memory serves me right they announced one of their acquisitions around then as well :)

[papalpower] 08/2/2007 15:34

Yep, luvely jubbly over 2 bagger now for me, and still plenty more to go imo :) and yours too Reg :)

[boringreg] 08/2/2007 13:04

A few people seem to have joined us PP. A couple of good chunky trades.

You know it makes sense Rodders.. Next year we'll all be millyunairs ;)

[papalpower] 08/2/2007 09:43

Does look like some news might be coming......

[boringreg] 08/2/2007 09:16

PP - It's worth remembering that Gary's stated aim is to build a £100m market cap company within 5 to 6 years. With only around 29m shares that means an share price of 350p - maybe we're pitching too low when we look to get out @ 200p - it hasn't even reached half the target yet and we're nearly half way through the growth path :)))

I'm expecting an announcement about another acquisition given the recent moves in share price. Be nice to pick up some in the target - if it's another listed company - I have a couple of candidates in mind but will keep my powder dry (until I've got some !!)

[papalpower] 08/2/2007 08:30

Thanks Reg.

Going up again, ho hum....

[boringreg] 08/2/2007 08:29

PP - I got in just after the float - sold after it rose to about 75p and then bought again at around 50p. This is a no-brainer IMO - given Ashworth's history and Luke Johnson's involvement. Ashworth spent a time in the wilderness after selling Abacus - but spent it wisely in designing an even better model for this, his next venture. He managed a huge return on Abacus before selling up to Carlisle - this is going to give him his next fortune.

No problem riding on the back of successful people like him. My stock is safely tucked away in my pension and I won't be selling until it gets to the magical £2.00. It may take until the summer but that's not long in the scheme of things.

A fairly tightly held stock so when there's interest it shoots up (and down) cos there aren't many shares to go around.

Did anyone read this from back in 2005?

18th August 2005

The right man for the job

An impressive record in launching recruitment companies and turning round the Edinburgh Fringe marks Gary Ashworth as a winner. He tells Polly Fergusson about his latest venture

Consider yourself a clued-up AIM investor? Then you have no excuses not to know Gary Ashworth, who was one of the first AIM chief executives and has founded one of the most successful AIM companies to date. He also manages several comedy acts and is on the board of the Edinburgh Assembly Rooms, along with long-serving mucker Luke Johnson, ex-Pizza Express man and now Channel 4 chairman.

Both are 10-bagger bosses. Ashworth founded Abacus Recruitment when he was just 21 in a small room above a pub in the City of London. It went on to float on AIM in 1995 - the same year that AIM started - and was the best-performing share on AIM in both 1996 and 1997 before it was finally sold to Tory party treasurer Michael Ashcroft's cash shell Carlisle Holdings, now called BB Holdings (CLH:AIM), just three years later for £16 million. Initial investors saw a 10-fold return on their investments. Luke Johnson's PizzaExpress, about to hit the stock markets once more after being taken private in 2003, was another 10-bagger.

With all due reason, entrepreneurial Ashworth is well-respected and it pays to keep a dose eye on his ventures. He has more than 30 years of experience in the recruitment industry now and Interquest (ITQ:AIM) is his latest project. Founded in 2001, Interquest floated on AIM in April this year.

The idea is to build a group of multi-branded IT staffing businesses, each focused on a specific niche area of the UK IT staffing market. So far, it has pulled together eight private recruitment companies including SBS, which recruits for public sector IT posts, and Insight, which is focused on niche technical skills. It has an annual turnover of £24.4 million.

InterQuest's main revenue streams are derived from placing contract and permanent staff and from executive search and selection. 'The aim is to have a market cap of around £100 million within six to seven years through a simple buy-and-build strategy,' says Ashworth. Not that tough a target, bearing in mind his previous successes. He's already made two acquisitions since listing and there are more to come.

'We've got a very pregnant pipeline of deals and our eye on two in particular.' Ashworth won't give any more details, but does reckon there will be more news before the interim results in September.

He will also consider taking out some of his smaller listed peers. 'Consolidation in the sector is inevitable - lots of players have lost their way. It makes sense to try and buy now while prices are reasonable. Mind you, we kissed a lot of frogs last year so we're pretty cautious about who we buy.'

It pays to have Ashworth on board. We've even got him to thank for keeping the Edinburgh Fringe going. The Assembly Rooms ran close to bankruptcy several years ago when the Fringe and the Edinburgh International Festival split their schedules over August. It was bailed out by Johnson and Ashworth together. He also directs the newer Llangollen Fringe Festival in Wales, now into its eighth year.

Ashworth manages comedian Boothby Graffoe, an Edinburgh stand-up veteran and writer of BBC Radio 4's The Big Booth. The other artist on his books is James Campbell, another Scottish comedian, whose humour is aimed at children.

Perhaps the comedy angle is a welcome change from stock market gravity. 'AIM is much more serious and grown-up now. Back in the early days it felt like the Wild West. But it was great to be one of the first there.'

His other interests include a board membership at Rosebud, a North American property company which owns a number of properties in the US. He was also a nonexecutive at Lionheart, a listed shell company wound up in 2003.

Despite all Ashworth's years of experience and previous stock market success, Interquest doesn't appear to have won the support of shareholders quite yet. After floating in April at 60p, its shares have drifted down to 45p, with a distinct lack of trading. Some of this is undoubtedly due to the high proportion of shares held by management (about 70%), which hinders free market trading. Ashworth reckons bad news from other recruitment companies has also knocked sentiment.

'The bad news out recently from Spring (SRG) certainly doesn't help us - it hits the rest of the sector. But we are a different company and can offset a downturn in any one area.'
Whether the market decides to back Ashworth remains to be seen. But it is certain that while his mind might have been slightly off the ball early this month as his comedians strutted their stuff at the Edinburgh Festival, he is deadly serious about making Interquest work.



Boring Old Reg

[papalpower] 07/2/2007 13:13

Indeed, 200p would make it a 4 bagger for me......enough to take profits at ;)

[boringreg] 07/2/2007 09:57

The boys are looking for at least a value of £2 for ITQ - nice rise again today - something is brewing........not that anyone would be trading with prior knowledge, of course :)

[papalpower] 06/2/2007 14:57

A biggie would be nice Reg.

[boringreg] 06/2/2007 14:53

Keep expecting to hear about their next acquisition - can't be far away. I've got a feeling that the next one will be a biggie ..... but, thereagain WTFDIK :)