Michael Page Share Discussion Threads

[wjccghcc] 19/8/2008 10:24

I meant no formal offer as per takeover panel rules. Adecco's approach was informal and rejected by the board.

[mattyd] 19/8/2008 10:20

cheers WJCCGHCC

i appreciate what youre saying, that if adeccos interest cools the share price will drop.

you said that no offer has been made? - according to one of the RNS yesterday

"Ingham admitted, however, that the group's rejection on Friday of Adecco's
400 pence a share or 1.3 billion pound ($2.43 billion) offer proposal is "not
the end of the matter".

[wjccghcc] 19/8/2008 09:41

A&L is a formal offer which has been accepted by the Board. No offer has been made here and if adecco walk away, the share price is likely to drop back to below 3 quid as the fundamentals are fast deteriorating.

[mattyd] 19/8/2008 08:29

if adecco have had bids rejected (at a higher price than current sp), and are expected to have to pay around £5 per share, why is this languishing in the mid 330s??

doesnt the share price normally rocket up to the expected takeover price, like with Alliance and Leicester?

[cockneyrebel] 14/8/2008 12:45

Results Monday. I would think they will say trading is better than market expectations if comments by other recruiters recently are anything to go on. News about the bid should also excite the sector again.

I've been adding more RWA as these are so cheap compared to MPI that they look very likely to get a positive kicker from MPI on Monday.

CR

[blueflame] 05/8/2008 09:47

What would be the expected take-out price on these?

[theband] 05/8/2008 08:45

Nice chart

[zimzoot] 22/7/2008 12:18

Questor would therefore advise against buying into any staffing shares in the short-term. For now, avoid.

[zimzoot] 07/7/2008 10:36

Altium Capital sell note

[deadly] 07/7/2008 08:23

So much for a gloomy statement. Bullish growth overseas and modest growth even here.

[zimzoot] 04/7/2008 10:51

MONDAY'S AGENDA

As investment banks continue to slash staff, white-collar headhunter Michael Page issues a second-quarter trading update. Analysts expect a fairly gloomy statement, and fear earnings forecasts may be cut, after chief executive Steve Ingham admitted in April that the credit crunch has hit hiring in the banking sector. Despite strong growth in the Far East, UBS is advising clients to sell shares in the company, warning that it looks particularly exposed to an economic slowdown.

[zimzoot] 18/6/2008 13:51

The online job vacancies declined by 19% y/y, and there is a downturn in jobs in the construction and banking and finance sectors, the analyst adds. Deterioration in the employment markets is expected to have a significant negative impact on Michael Page International's operating profits, since the company has higher operational gearing than its peers, Deutsche Bank says.

[zimzoot] 13/6/2008 09:25

Both RWA & MPI strong sell
recruitment market has started to tank :)

[liarspoker] 08/5/2008 13:23

Nice AGM statement from RWA this AM.

[darkside] 08/5/2008 13:21

Looks like this could be ready to break out, bought a few

[adamkeats19] 20/4/2008 23:13

*pre-tax profit margins

[adamkeats19] 20/4/2008 23:13

its the profit margins people are worried about for HVN, the recruitment sector will get hit although not as bad as everyone thinks. a 2.5% fall in revenue would put them into loss, the same figure for MPI is 18%.

[invisage] 20/4/2008 22:14

Dear Fellow Friends

HVN ... :-)

It is on a dividend yield of 5% or so, 4mil cash in the bank with a market cap of 28mil,Full-year pretax profit rose to 7.6 million - pretax up 31% but only has a PE of 5. The big giant recruiters MPI and HAS look to have bottomed and are uptrending now.

Forecasts 2008 2009

Pre Tax EPS DPS Pre Tax EPS DPS
Numis 9.47 9.10 2.0 10.45 9.9 2.2
Panmure 9.69 9.46 2.0


The CEO has said

"The excellent results for the year reflect our strong market leading position.
In addition to our successful organic-led growth strategy, we acquired a number
of earnings enhancing businesses and are delighted with their performance.

"The current year has started well with robust trading in the first two months.
Overall, our businesses in the US, UK and Europe are trading ahead of budget and the previous year."

Trading ahead of budjet and doing better then last year in the first two months!

I reckon HVN can double on a 6-12 month view providing confidence returns to the markets. The IT sector has done very well just look at Intel, Google and IBM results the past week - Tech is doing very well and i am sure the likes of HVN will benefit from all this.

[dr darkstar] 06/4/2008 14:28

A drop back to about 260 would still be bullish .. provided it bounced

[liarspoker] 05/4/2008 18:08

Yep, I'm in HVN as well cyclingnut. Looks amazingly cheap. :O)