Made Tech Share Discussion Threads

[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!

[battlebus2] 14/10/2013 10:09

Couldn't help myself and got a few just for the fun of it. Results tomorrow should show progress.

[battlebus2] 11/10/2013 15:18

Tried buying back in but mm's not giving an ounce.

[battlebus2] 11/10/2013 14:14

Roaring through £5 shortly, must admit i got it wrong on this one but a profit is a profit. GLA for next weeks results.

[hannahh] 09/10/2013 15:11

QuePassa, glad you enjoyed the MTEC presentation at the ED forum.

We're organising another event in Manchester for those who live within the vicinity and would like to meet management face to face. This is a free event with the objective of introducing you to the business and giving you the opportunity to draw your own conclusions.

Date: Monday 21st October at 5.30pm. Adrian Gunn and Tony Dyer, CEO and FD, will be presenting.

Venue: We will be holding the event at Mal Maison, 1-3 Piccadilly, Manchester M1 3AQ.
If you would like to attend would you kindly email me at [e-mail] for an idea of numbers. Thanks. Hannah

[quepassa] 09/10/2013 08:53

Always good to bank a profit.

Matchtech is however doing very well.

It is in a highly sought-after niche of specialist engineering recruitment at a time when these services are in enormous demand and when the UK economy now appears to have firmly turned the corner. The IMF increasing its growth forecast yesterday for the UK is a truly notable event and a strong economic indicator.

The industry back-drop is highly favourable.

MTEC's track-record is not to be ignored. Their dividend policy and moreover dividend history are astonishingly robust.

As an AIM-listed company, they are additionally benefitting from the new regulations which allow AIM companies to be held in ISA's. Next year also, there will be a further benefit as Stamp Duty is abolished on AIM shares.

AIM companies of this size, track-record and which pay reliable dividends will become increasingly sought after in my view.

The CEO gave a first class presentation at the recent Equity Development conference and it is refreshing to encounter a CEO who comes across as so genuine, no-nonsense, down-to-earth, feet on the ground, ambitious but cautious and who knows his own business inside-out. In my view, he gets ten out of ten.

ALL IMO. DYOR.

QP

[philo124] 09/10/2013 08:23

Yes, agreed, shouldn't have taken profit on some here.

[quepassa] 09/10/2013 08:20

Good strength in share price recently. New high of 478p.

The market cap of AIM-listed Matchtech has surged to a very respectable £115million.

Personally, I am expecting strong/very strong figures next week, 15th, October when the annual Prelims are released.

Matchtech have paid a rock-solid 10.6p final dividend for the last five years through thick and thin.

In their August Trading Update, MTEC mentioned "that the Board now anticipates that the underlying profit for the year to 31 July 2013 will be slightly ahead of its previous expectations."

Recently they increased their interim dividend by 3% from 5p to 5.15pence and have reiterated their progressive dividend policy.

It would highly surprise me if Matchtech do not equally increase their final dividend by 3% , if not by more.

ALL IMO. DYOR.

QP

[philo124] 08/10/2013 07:55

UK Companies hiring temps at the fastest rate for 15 years- Tempus.

[philo124] 08/10/2013 07:45

Robert Walters IMS - uk 21% ahead.

[quepassa] 29/9/2013 17:13

At the recent Equity Development presentation, CEO Adrian Gunn said that it was Matchtech's vision to be the leading specialist engineering recruitment Company in the UK.

The full and impressive presentation is available at the website of conference host, Equity Development.

ALL IMO. DYOR.

QP