Made Tech Share Discussion Threads

[c1d] 20/11/2013 07:49

I was wondering the same thing about ISA limits!
I'm just guessing, but I wondered if other shares had been sold to free up cash within the ISA equivalent to the value of the shares being 'transferred'? If so, maybe this would be a purchase under ISA rules but a transfer for the purposes of the RNS? Would also love to know the answer as I wish I could put more than £10-£11k pa in my ISA!

[quepassa] 15/11/2013 10:22

Unexpected RNS released today.

Very upbeat and positive outlook.

Effectively a first quarter trading statement. And they are up a whopping 13% on same period last year

Self-explanatory:-

QUOTE:-

George Materna, Chairman of Matchtech Group plc, will deliver the following trading update at the Group's Annual General Meeting to be held at noon today:

"Since we reported our Preliminary Results for the year ended 31 July 2013 on 15 October 2013 the Group has continued to perform in line with the Board's expectations.

"As the UK economy moves further into recovery mode, demand for contract recruitment continues to grow and we are seeing the first signs of permanent candidate confidence returning.

"For the first quarter to 31 October 2013, Net Fee Income (NFI) of GBP11.1m was up 13% on the same period in the previous financial year on a like for like basis*, with contract NFI of GBP8.0m up 14% and permanent fees of GBP3.1m up 11%.

"We look forward with confidence to the year ahead."

UNQUOTE.



Well done, Matchtech!

Who also get brownie points for their effective and clear investor communications.

ALL IMO. DYOR.

QP

[grahamburn] 06/11/2013 14:50

Impressive price performance so far today given it has gone ex-dividend: down just 5p with the 12.85p dividend locked in. Considering it was up 5p or so yesterday, really cannot complain.

[c1d] 17/10/2013 13:24

Thanks QuePassa,
An interesting read. People (quite rightly IMV) seem to have loved the results.

[quepassa] 17/10/2013 12:12

Very bullish comment in today's Telegraph newspaper.

Matchtech is a Questor share tip. The subheading is :- "Questor says BUY.

The full article by highly-regarded John Ficence, Questor editor, is worth reading and ends with the words:-

"Those forecasts are conservative and the shares offer a 3.8pc forecast dividend yield. There should be more to come here. Buy. "

Here is a link to the full article



ALL IMO. DYOR.

QP

[grahamburn] 17/10/2013 10:19

Totally agree, QP. When the company introduced the scheme a couple of years back I was impressed enough to double my holding in the business, as I could see the potential benefits to shareholders and directors alike. Not sure whether I actually posted on here that the policy was a great incentive to directors compared to the superficial schemes prevalent in so many other businesses, but certainly thought so - and acted accordingly.

Tremendous investment this, both in terms of income and capital growth - and much more to come, IMHO.

[quepassa] 17/10/2013 09:58

The management incentivisation scheme for Matchtech as laid out in the Directors' Remuneration Section of Matchtech's 2012 Annual Report makes fascinating reading and is not to be ignored. It ensures, in my view, that several of the important performance criteria are based on continuing share price growth.

This is excellent. It brings together the interests of shareholders and management. Of its type, this incentivisation scheme is excellent.

Herewith some extracts:-

Remuneration Policy

The objectives of the Group's remuneration policy are to attract, retain and incentivise management with the appropriate professional, managerial and technological expertise to realise the Group's business objectives, and align their interests with those of shareholders. The Group strives to link payment to performance and thereby create a performance culture.



In my view, such schemes give management an enormous incentive to look after the interests of shareholders. The better shareholders do, the better management does!


ALL IMO. DYOR.

QP

[stevenlondon3] 17/10/2013 09:46

Sold a third of my shares...it looks as if one or two institutions are bidding up the price to get a decent holding after the recent placing.

[philo124] 17/10/2013 08:38

Sold @ 545p. GLA.

[philo124] 16/10/2013 18:47

Certainly is.

[battlebus2] 16/10/2013 11:36

Closing in on that 550/560 target.

[battlebus2] 15/10/2013 20:51

Directors dealing after the close, George Maternas sipp provider sold 20k but more importantly the new guy Brian Wilkinson has bought 10,000. Very positive indeed.

[battlebus2] 15/10/2013 16:10

Ticking up again.

[battlebus2] 15/10/2013 12:35

Technical and professional recruitment group Matchtech has announced positive year-end results, with record numbers of contractors and growth in the permanent placements.

Revenue increased by 10% year-on-year, reaching £408.9m, according to its preliminary results, considerably higher than its pre-recessionary earnings.

Adrian Gunn, chief executive officer of Matchtech, told recruiter.co.uk: "The sectors we operate in are seeing growth and a recovering UK market is good news for us," adding the company recorded its highest ever number of contractors at 7,000.

Pre-tax profit was £10.3m, £0.5m higher than the company's previous forecast. As a result the group's 2014 year-end forecast for pre-tax profit has been raised by 7%. Contract net fee income increased by 11% to £27.2m and permanent by 5% to £11.2m.

Gunn puts the company's success in part down to its specialism, saying that the "middle market" of recruitment is shrinking: "You have the high-volume recruiters who place low-skilled people. On the other side of the coin you have specialist recruiters. The investment community now understands this distinction. My personal view is that if you haven't made your mind up one way or the other you will be the HMV of the recruitment sector."

The company plans to acquire additional businesses, after buying niche technology recruiter Provanis last month [September 2013]. The results note a £4.1m war chest has been set aside and Gunn said that, while it is difficult to find suitable businesses, the company is on the lookout for high-margin contracting businesses suitable for bolt-on acquisitions.

The results also announced that George Materna will step down as chairman on 2 December 2013 and will become a non-executive deputy chairman. Brian Wilkinson is joining as group executive chairman. Wilkinson had previously been on staffing giant Randstad's executive board.

Matchtech Group's share price increased by 1%, to reach 502.50, in the hours immediately following the announcement of the results.

- See more at: hxxp://www.recruiter.co.uk/news/2013/10/financials-matchtech-outperforms-expectations/#sthash.xhTbX80j.dpuf

[philo124] 15/10/2013 09:14

Thanks QP; so my 550/560p target was good guess.

[battlebus2] 15/10/2013 08:36

Yes a very good read indeed Q.P.

[quepassa] 15/10/2013 08:36

VERY GOOD UPDATE JUST RELEASED ON MATCHTECH BY

EQUITY DEVELOPMENT

WHO BUMP UP THEIR TARGET PRICE TO 556p


A full copy of the research (free) can be found at the web-site of Equity Development.



ALL IMO. DYOR.

QP

[valhamos] 15/10/2013 08:23

Cracking results and looks to have momentum for 'significant progress this year'

[battlebus2] 15/10/2013 08:18

Yep broker upgrades to come i would have thought, profit takers this morning though.

[philo124] 15/10/2013 08:17

Should see 550/560p in due course.

[quepassa] 15/10/2013 08:13

STUNNING RESULTS.

FINAL DIVIDEND UP AN ASTOUNDING 21%.

EXTREMELY CONFIDENT TONE TO RESULTS.

POSITIVE+++ AND EXPANSIONARY OUTLOOK.

WELL DONE MTEC. A GREAT PERFORMANCE.

Will try to give further input on results later.


ALL IMO. DYOR.

QP

[philo124] 15/10/2013 07:33

Very Good indeed!

[battlebus2] 15/10/2013 07:20

Financial Highlights looks great well done guys!!


2013 2012 Change
Revenue GBP408.9m GBP371.4m +10%
Net Fee Income(1) (NFI) GBP38.4m GBP36.1m +6%
Contract NFI GBP27.2m GBP24.6m +11%
Permanent recruitment fees(2) GBP11.2m GBP10.7m +5%
Contract NFI / Permanent fees mix 71%/29% 68%/32%
Profit from operations(3) GBP11.1m GBP8.7m +28%
Profit before tax(3) GBP10.3m GBP8.0m +29%
Reported profit before tax GBP9.9m GBP8.0m +24%
Basic earnings per share(3) 33.4p 24.3p +37%
Reported basic earnings per share 32.0p 24.3p +32%
Final dividend 12.75p 10.60p +21%
Total dividend 18.00p 15.60p +15%
Operating cash conversion 108% 106%
Net debt GBP10.5m GBP14.5m down GBP4.0m

Whilst the road to full economic recovery is a long one, we believe the corner has been turned. We are confident that our business is ready to enjoy a strong year ahead.

[philo124] 14/10/2013 11:52

Fingers crossed!