Michael Page Share Discussion Threads

[the player] 15/11/2001 19:51

.....

Edited.

TP

[bytomix] 29/10/2001 13:18

anyone noticed the mm trades at lunctime today....reasons as to why anybody?

[scripophilist] 03/10/2001 09:27

"Warned" again this morning. No surprise.......

[globaltraderix2] 16/8/2001 08:35

Used to work for these guys.The company knows how to make money and will be worth investing in at the right time due to its brand name and its ability to deliver earnings growth.The directors and senior managers are strongly incentivised to deliver growth(40 million quids worth of share options)
Within the economic cyle the timing is not yet right.When the states starts to recover in the last quarter of this year or more likely in the first quarter of next year then will be worth getting in for the long haul. imho dyor

[mahmoo97] 14/8/2001 10:24

You still short ebiz?

Difficult to see which way the market might see mpi. I'm still leaning towards a fall since the outlook is cloudy in their opinion, which means 'bad outlook but we'll say uncertain'

[ebiz] 14/8/2001 07:34

Bloomberg:

Top News
08/14 07:11
Michael Page Says Second-Half Outlook `Difficult to Forecast'
By Flavia Krause-Jackson


London, Aug. 14 (Bloomberg) -- Michael Page International Plc, a U.K. recruitment company that first sold shares in March, said the outlook for the second half was ``difficult to forecast'' because of falling demand for financial and accounting staff.

``Weakening demand in all permanent recruitment markets towards the end of the second quarter led to a reduction in the rate of revenue growth,'' the company said in a statement.

The company's first-half net income rose to 20.8 million pounds ($29.5 million) from 19.8 million pounds in the year- earlier period, the company said in a statement released on the U.K.'s Regulatory News Service.

[ebiz] 14/8/2001 07:31

Summary:

Operating profit fell, pretax up 10.2%, EPS +5.6%.
Q2 showed revenue growth weakening further.
No outlook.

[ebiz] 14/8/2001 07:18

'THE AMERICAS

In the Americas, turnover declined by 11.0% to #2.9m (2000: #3.3m) and our
operating profit before exceptional items reduced to #0.4m (2000: #1.1m pre
Spherion bonuses) reflecting a particularly difficult period for our New York
business.'

[ebiz] 14/8/2001 07:17

'CONTINENTAL EUROPE

...towards the end of the second quarter our businesses in France, the
Group's second largest geographic market, experienced a marked weakening in
the permanent recruitment market but Page Interim, our temporary business,
continues to produce strong growth.'

[ebiz] 14/8/2001 07:17

'ASIA PACIFIC

Despite weakening market conditions across the region, turnover for the first
six months of 2001 was maintained at the same level as the first six months of
2000 at #27.7m, but operating profit, before exceptional items, fell to #4.1m
(2000: #6.1m pre Spherion bonuses). These results reflect the downturn in the
Telecoms and IT sectors, with our business in Hong Kong being particularly
impacted by the slowdown in financial services.'

[ebiz] 13/8/2001 18:41

Doubled my short into the close for tomorrow morning. Guess who'll be up for 7am for the results?

Fingers crossed.

[mahmoo97] 13/8/2001 08:56

Funny that there seeems to be just two brokers buying. Probably trying to manipulate the market

[mahmoo97] 13/8/2001 08:52

interesting that there seems to be more buying this am.

[scripophilist] 12/8/2001 11:57

More warnings due, what a surprise!!

[mahmoo97] 10/8/2001 11:59

good to see you posting again ebiz. I've been watching MPI too but haven't taken a position yet, been busy with colt and cmg. Since the last trading statement, i too feel that their business has been squeezed further due to the european economy getting worse. My fingers on the short button, waiting for weakness then will hold out until the results...... could this be another RGU??

[ebiz] 09/8/2001 21:50

Today shares fell as low as 128p today, although the recovered some of those losses to close at 136p. Plenty of time to fall before or on release of results.

[ebiz] 09/8/2001 21:49

THURSDAY AUGUST 09 2001

MPI falls to new low ahead of results

STOCK MARKET BY NICK HASELL

MICHAEL PAGE International fell to a new low as investors took fright ahead of next Tuesday’s half-year figures from the white collar recruitment consultancy.
MPI ran into controversy in June by giving warning on profits just three months after a £656 million flotation through Credit Suisse First Boston. The company had produced a confident outlook in its prospectus, but admitted six weeks ago that a slowdown in the US and Australia had since spread to the UK and continental Europe. Investors took the view yesterday that trading conditions are only likely to have deteriorated since that alert, and offloaded the stock in size in anticipation of more bad news next week.

The shares, placed at 175p in March, closed down 10½p at 137½p.

[ebiz] 08/8/2001 15:43

MPI new all time low now -6% on the day. SSSB aggressively marking down - their offer is 2p below the others.

My back of the envelope target is 95p which is 50% of the price before the profits warning was announced. I'll do some sort of p/e based target when I get round to it. I reckon it will get there before or on release of the results on 15/8.

[ebiz] 08/8/2001 14:41

Some large trades gone through this today, with some modest price falls. Certain MMs seem to be aggressively moving the price down. Results due 15th August. Remember the profit warning - I'm putting money on conditions having deteriorated since then and some dismal figures.

Also they're on the CFD/Spread Betters 'unborrowable' list. Regus was the last stock I traded on that basis when it was 300p!

Anyone else watching?

[mahmoo97] 02/7/2001 13:39

I agree, some large buys though. Will wait for a retracement (just like regus) but this one won't bounce as much imho.

[ebiz] 02/7/2001 13:31

Looking like some small recovery. Another shorting opportunity building.

[mahmoo97] 02/7/2001 13:04

hmmm, very thin volumes so far, with a short trading week in the states, i suspect volumes to remain thin this week.