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[valhamos] 19/7/2016 08:43

More comment on the unfortunate association of recruitment and eugenics here:

'Recruiter Matchtech changes name to Gattaca - same as the hit Hollywood movie about eugenics'



"My overall view is that it is a bit of a blunder" according to a director at brand analyst Brand Finance.

[quepassa] 18/7/2016 18:44

Well I hope they checked with Columbia Motion Pictures and Andrew Niccol - director/writer of Gattaca- that the use of this word is not infringing any copyrights.


ALL IMO. DYOR.
QP

[mrchriss] 18/7/2016 17:26

Subject to shareholder approval.

[grahamburn] 18/7/2016 11:57

As noted above but in general terms, companies which change their names (even dream up some generic unconnected one), tend to spend more time examining their own navals rather than getting on with developing their businesses.

What's even stranger in this case is that the RNS makes abundantly clear that each of the operating companies will be RETAINING their own branding and original identities.

In short, what is the point in an expensive and unnecessary exercise?

[quepassa] 18/7/2016 11:30

Watch the main trailer in the above link.

Spooky or what?

Is this appropriate to a recruitment company?


ALL IMO. DYOR.
QP

[quepassa] 18/7/2016 08:16

Gattaca.

I am not a copyright lawyer but.........




either way, what a really weird choice.

ALL IMO. DYOR.
QP

[valhamos] 18/7/2016 08:05

QuePassa - I agree with your comments. I haven't seen the film but the dubious association given by the name change could be that the company is helping to recruit valids rather than in-valids. Not very clever.

[masurenguy] 18/7/2016 07:44

RNS Number : 3919E
Matchtech Group PLC
18 July 2016

Change of Name: Matchtech Group plc to become Gattaca plc

Matchtech Group plc ("Matchtech" or the "Group" or "the Company" ), the specialist Engineering and Technology (IT & Telecoms) recruitment agency, announces that, subject to shareholder approval, the Company intends to rename as Gattaca plc. The name change is the next step in the Group's development, following the acquisition of Networkers International plc in April 2015. The acquisition brought Telecoms and Technology expertise to Matchtech's existing strength in Engineering and Technology. It has enabled the Group to capitalise on the convergence of the skill sets demanded by these markets and allowed Matchtech to internationalise its existing service offering by leveraging Networkers' existing global infrastructure.

The proposed change follows extensive research conducted by the Group of its employees, candidates and current and potential clients as to their view of the constituent brands that make up the enlarged Group. This research showed that the Group brand (Matchtech Group plc) and the operating engineering brand (Matchtech) sharing the same name could be a source of confusion. For this reason the name of the Group will change to Gattaca and the structure will be simplified. The Company will continue to trade through its core brands Matchtech and Networkers. Matchtech will be retained as the core Engineering specialist brand, with Cappo covering oil & gas recruitment services in international markets. Networkers will be retained as the core Technology specialist brand, with Provanis continuing to operate in the Oracle market sector.

[quepassa] 18/7/2016 07:27

Gattaca - sounds like a disease.

What a dreadful name in my opinion. No-one will remember how to spell it.How many c's? How many t's? Is it with a c or a k?

Gataca, Gatacka, Gattaka, Gattacca. - What a confusing name that phonetically can be spelled so many ways.

In my opinion, this name is worse than the ill-fated one-time rebranding of a certain well-known postal company to Consignia.

In my view, one of those appalling made-up names which are quite meaningless, inappropriate and false, phoney and fake.

Sorry but "nul points" in my view for the choice of that name.

Why on earth would anyone rebrand a company with the same name as some dubious and dystopian 1990's sci-fi movie starring Uma Thurman and Jude law? I hope they have checked copyright on that name.

ALL IMO. DYOR.
QP

[jimmywilson612] 30/6/2016 16:16

Small top-up from em today.

I think its a good price longer term - reading another recruitment agency report (Harvey Nash) they have reported growth in the temp income.

My guess is that companies who are unsure of recruitment on a permanent basis will go via temp instead if they have any fall out from Brexit.

Working in the sector myself I don't see any negative news from clients/candidates YET (time will tell) but overall I think the risk/reward ratio is in my favour.

[proactivest] 14/4/2016 16:03

Video interview with Brian Wilkinson



Brian Wilkinson, chief executive of engineering recruitment specialist Matchtech Group PLC (LON:MTEC), says the company’s integration of Networkers has been “the best integration plan I have ever been involved in”.
He hails the acquisition for the 35% rise in revenue and pre-tax profit, as on an underlying basis, the first half was flat compared to the same period in the previous year.
Wilkinson says the firm is focused on paying off some more of its debt, which has come down “substantially” over the last 12 months, but remains open to bolt-on acquisitions where appropriate.

[thomasthetank1] 14/4/2016 11:01

Read Equity Development’s note on Matchtech Group (MTEC), out this morning, by visiting hxxps://www.research-tree.com/companies/uk/training_%26_recruitment_services/matchtech_group_plc …
“We believe that Matchtech, an engineering and technology recruitment specialist, will soon begin pulling out of its temporary lull. You see, as opposed to its peers, 73% of NFI comes contractor placements, while its long term prospects are far more tied to the strong tailwinds behind the UK infrastructure, automotive, aerospace, maritime, IT and telecoms industries, than the trials and tribulations of the broader economy. In fact, despite reporting today that LFL NFI declined -1% to £35.85m for the 6 months to January 2016, we think that there are numerous reasons why MTEC’s results are set to pick up in H2’16 and beyond. First and foremost…̶1;

[carcosa] 14/4/2016 09:44

New video:
"Brian Wilkinson, chief executive of engineering recruitment specialist Matchtech Group PLC (LON:MTEC), says the company’s integration of Networkers has been “the best integration plan I have ever been involved in”.
He hails the acquisition for the 35% rise in revenue and pre-tax profit, as on an underlying basis, the first half was flat compared to the same period in the previous year.
Wilkinson says the firm is focused on paying off some more of its debt, which has come down “substantially” over the last 12 months, but remains open to bolt-on acquisitions where appropriate."

[brummy_git] 14/4/2016 09:34

New research out from Equity Development

hxxps://www.equitydevelopment.co.uk/doc/1480.pdf

[jimmywilson612] 14/4/2016 08:36

Net debt coming down nicely

[carcosa] 14/4/2016 07:44

At first glance reading not so good; but digging in a little:

NFI 35.9m marginally beating expectation of 35.7m - growth of 62%

Basic EPS 21.9p, say double up for full year to 43.8p versus FY expectation of 45.6p

PBT 9.4m, double to 18.8m versus FY forecast 21.3m

If assuming more cost savings and growth in H2 (very likely) then I would say still in line with forecasts.

[eggbaconandbubble] 14/4/2016 07:17

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

[scottishfield] 05/4/2016 16:07

Nice, bought today

[brummy_git] 04/4/2016 12:02

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 :-)