Made Tech Share Discussion Threads

[eggbaconandbubble] 14/4/2016 06:17

Interims. everything looks hunky dory until one sees the increase in eps. Is that due to the acquisition of Networkers?

[scottishfield] 05/4/2016 15:07

Nice, bought today

[brummy_git] 04/4/2016 11:02

Preview of H1 numbers from Equity development this morning.

hxxps://www.equitydevelopment.co.uk/doc/1477.pdf

[nehpets81] 02/2/2016 11:00

Overall fairly decent update. It seems the poor performance in IT is detracting from a good performance in the rest of the business. The acquisition seems to be bedding in well, however, which is probably the most important thing at the moment, given its size.

With a full year 2016 PE of 11.2 and a yield of 4.4% these look decent value to me given the potential growth from cross-selling into overseas markets.

As an aside, I always find the terminology of these updates interesting. Eg, in the latest one we have "The Board currently anticipates profit for the full year to be in-line with its expectations". I think it would be difficult for it to be anything else! Perhaps they meant their previous expectations? Actually it would be more useful if they compared it to market expectations anyway imo.

[jimmywilson612] 28/1/2016 11:58

Good results in my opinion, would buy more if it wasn't for that disgusting spread

[masurenguy] 28/1/2016 08:43

Most salient positive points.

H1’16 NFI was up 4% sequentially on H2’15, which - when added to the 5%increase in fee earner headcount (515) since July, and further progress on synergies - bodes well for the future. Indeed almost £2m (up from £1.3m in October) of annualised savings have already been identified from the Networkers deal; with more to come from combining back office functions, and leveraging sales initiatives across different verticals (eg IT and engineering) and geographies (eg Asia & North America).

CEO Brian Wilkinson adding “Performance in H1’16 is in line with management’s expectations, with growth in Engineering and Telecoms compared to H2’15. Demand in the UK for skilled engineers remains robust and looking ahead we have identified a number of opportunities to roll out our Engineering recruitment services across our overseas locations [representing approx. 30% NFI]. Investment in headcount is taking place in these areas and I remain confident that we will convert these exciting opportunities into significant growth over the next few years.”

As a result of the recent rout on the FTSE, recruitment sector multiples have dropped >20% from October levels - with our price target duly being rebased from 705p to 604p/share, equivalent to 10x CY EV/EBITA and 13.2x PER. At 505p though, we still consider stock is good value, trading at a 10%-20% discount to peers, and offering a 4.8% dividend yield (see below) that is 1.9x covered.

[brummy_git] 28/1/2016 08:32

Research out today from Equity development

hxxp://www.equitydevelopment.co.uk/doc/1445.pdf

[cwa1] 07/12/2015 16:28

Indeed, impressive!

[nehpets81] 07/12/2015 15:56

That's a nice vote of confidence :-)

[speedsgh] 02/12/2015 13:24

MTEC article in lastest issue of AIM Prospector is now available (with the approval of the publisher) via the following link:



NOTE: I would still recommend signing up to the newsletter via email which can be done via their homepage -

[cwa1] 02/12/2015 10:46

Short, fairly sweet and to the point. I approve!

[masurenguy] 02/12/2015 08:30

Reassuring AGM statement today !

RNS Number : 6523H
02 December 2015
Matchtech Group plc

AGM Statement

Ric Piper, Interim Chairman of Matchtech Group plc, will deliver the following update at the Group's AGM at Noon today: "On behalf of the Board I am pleased to report that the Group continues to trade in line with our expectations. We intend to give our next trading update on Thursday, 11(th) February 2016. As already announced on 29 October 2015, I am also very pleased to welcome Patrick Shanley, who will become Non-Executive Chairman with effect from the end of this Annual General Meeting."

[speedsgh] 30/11/2015 18:30

MTEC feature in latest issue of AIM Prospector.

.

EDIT - Link deleted at request of publisher. To subscribe for free, please go to

[jimmywilson612] 30/11/2015 09:47

Thanks for sharing Wheelie

[thewheeliedealer] 29/11/2015 21:15

Hi all,

One of my twitter mates went to an Equity Development meeting recently and made some notes including MTEC which he kindly let me share on my Website. It's fairly short but you might find it useful,

cheers WheelieD

[jimmywilson612] 27/11/2015 11:48

hxxp://www.recruiter.co.uk/news/2015/11/osbornes-speech-ignores-ts-ir35/

For anyone wondering why this has dropped recently, in my opinion it is the uncertainty around the contract environment following on from Osborne's speech yesterday.

Kermode said the announcement “is very worrying” because it doesn’t rule out the possibility “that rumours that the government intends to introduce a one-month rule, whereby [after which] all contractors must go onto the payroll are true”.

If the rumours were to turn out to be true “it could mean the end of contracting”, she added.

[iceman101] 25/11/2015 14:22

I gave up listening to Osborne! - so I don't know what he said, just been looking through the headlines now. I only mentioned it because of the timing of the fall was around when he finished.
I just bought back in here via a SB as support has been here around here recently and it looks good value to me anyway.

[jimmywilson612] 25/11/2015 14:20

Maybe something do to with contractors they hire out to organisations?

hxxp://www.contractorcalculator.co.uk/umbrella_contractors_lose_expenses_tax_relief_508010_news.aspx

Didnt see anything in the speech about it though

[stegrego] 25/11/2015 14:15

Looked like increased infrastructure spend so don't see that as a bad thing?

[iceman101] 25/11/2015 14:10

penpont - RBC downgraded a number of recruiters this morning. Looking at the timing here maybe something in the Osborne statement as well? But that is just a guess on my part.

[penpont] 25/11/2015 14:01

Is there a general reason recruiters would have been hit at this time? Noticed that this, plus EMR and RTC have fallen today.

[brummy_git] 16/11/2015 11:30

Probably just sentiment relating to the awful events in Paris on Friday

[amencorner] 16/11/2015 10:57

Any reason for the 5% fall today?