Partway Share Discussion Threads

[aishah] 18/7/2018 07:09

Parity Group plc ("Parity "or the "Group")

Trading Update

Parity (AIM:PTY), the technology focussed consultancy and staffing business, today provides the following update on trading for the six months ended 30 June 2018.

We are pleased to report that the Group has traded well and in line with our expectations in the period and is expected to deliver double digit growth in the Group's profit before tax from continuing operations compared to the same period in the prior year.

In addition, our tight cost controls and working capital management continues to provide a solid platform upon which to grow.

Alan Rommel, CEO, commented:

"This robust first half performance combined with an encouraging sales pipeline from both existing and new customers, gives us confidence in achieving sustained organic growth, supported by our continued investment in new sales capability and our development of higher value services targeting the high growth data solutions markets."

A further update will be provided within the half year results for the six months ended 30 June 2018, which are expected to be announced by mid-September.

[nico115] 10/7/2018 17:24

This still isn't for me Margins wafer thin Target 10p

[opodio] 10/7/2018 07:14

Election undertainty

The UK is expected to have lost 10,500 finance jobs by day one of Brexit, according to professional services firm EY

[onjohn] 07/7/2018 15:50

Wonder if their public sector contacts are delayed to Brexit uncertainty

Impending trade war cutting investment

[onjohn] 07/7/2018 15:49

Pension black hole

[leoboy] 07/7/2018 15:32

Push - last years TS was : 17 Jul 2017 7:00 am

[push n run] 07/7/2018 15:06

There wasn't a trading statement last year, just interims in Sept.

[chrisdgb] 03/7/2018 10:54

Wonder if we will get a bullish trading statement in a couple of weeks....?

[netcurtains] 21/6/2018 15:29

ps- dont get shaken out for tiny profit. Simply google IT market 2018 and see what comes up. This is a very typical example:

Demand for big data skills and professionals has surged by 78% in the past 12 months (Q1 2017 – Q1 2018), according to the Q1 2018 Tech Cities Job Watch report from IT recruitment specialists Experis, which came out in May 2018.

This increase far outstrips demand for mobile (26%) and cloud (30%) expertise.

The research puts this jump down to the upcoming general data protection regulation (GDPR), with Martin Ewings, director of specialist markets saying: “A number of regulatory hurdles this year – including the much talked about GDPR – coupled with the growing Internet of Things trend, are putting pressure on businesses to better manage, process, secure and leverage their data.

This has seen contractor demand rise 128% in the same period, and permanent role demand increase 68% for big data skills.

and another one:
CompTIA’s IT Industry Business Confidence Index notched one of its highest ratings ever heading into the first quarter of 2018. Executives cite robust customer demand and the uptake of emerging product and service categories as key contributors to the positive sentiment. Revenue growth should follow suit. CompTIA’s consensus forecast projects growth of 5.0 percent across the global tech sector in 2018; and, if everything falls into place, the upside of the forecast could push growth into the 7 percent-plus range.

2018 is the big one for IT ....dont get shaken out.

[netcurtains] 08/6/2018 06:52

This bit at the bottom of Parity results is interesting:

"Our most important strategic objective is to realign the business by continuing to build critical mass in the Consultancy Services business, working closely with Professionals, by investing to drive organic growth and, at the right time, identifying appropriate acquisition opportunities to accelerate the development of the business. Progress to date provides confidence in the Group’s future prospects as we develop our capability in our exciting growth markets."

I was thinking Parity and Triad added togther are probably worth a lot more together then they are seperate - they probably, as a joint enterprise could be knocking on the FTSE 250 with big investeors piling in. Its probably not going to happen - but who knows.

[insideryou] 07/6/2018 16:25

Added 30k. I like the story more and more here

[aishah] 07/6/2018 14:15

'Continue to buy' says Techinvest in latest issue

[netcurtains] 06/6/2018 18:30

15p. Its worth noting (might be a coincidence or not) that TRIAD is also going up about the same amount (I own both).

[netcurtains] 06/6/2018 08:41

be good if we could break 15p today

[chrisdgb] 31/5/2018 09:10

I see WH Ireland reiterated 18.5p price target and dividend possibility yesterday..

[glasshalfull] 29/5/2018 10:17

thorne - Belated thanks for the AGM update. Much appreciated. Added 500k to my position since the AGM.

Kind regards
GHF

[netcurtains] 26/5/2018 15:43

The FT looking at the cost of GDPR:


Parity dont need to be doing GDPR to make money out of it as GDPR will suck IT staff in thus the demand for ALL IT staff will go up.

The money going into IT from GDPR is £15M (per FTSE 100) * 1000 (all the FTSE 100 type companies across the EU and large companies that trade in the EU) .... That is a heck of a lot of money being pumped into IT.

Then there is Brexit. If you look at Paritys home page it is full of government contracts. There are a million and one IT things connected to Brexit - and there is also the ongoing work of updating MoJ systems for online law courts.. The potential for massive growth is there.

[netcurtains] 25/5/2018 16:27

GDPR - tons and tons and tons of work around for this nonsense (eg those cookie policy things and storing peoples names and addresses) - We're all getting zillions of those silly emails - each one probably relates to ONE IT bod - add it all up

[+eysenck] 25/5/2018 15:56

Here here, thanks Thorne.

[kemche] 25/5/2018 14:51

Thanks thorne. Much appreciated.

[netcurtains] 25/5/2018 14:31

I'm in. Looking a reasonable bet (I'm in Triad too). They are like twins in some ways.

[thorne3] 25/5/2018 12:19

I attended the Parity AGM yesterday and came away with the feeling that the business is in good shape and on a firm growth tack;important issues that were touched on in discussion after the formalities are as follows with my own opinions as appropriate;
1)Inition.The completion of the disposal of this loss making business for £200k on April 20th removes the last of the legacy issues that have been plaguing the company for the last few years;this transaction not only immeasurably improves the profit/loss account and balance sheet but also removes an unwanted distraction in management time;
2)By December 2018 the company should be debt free subject to any unusual working capital requirements;this situation significantly improves management's decision making flexibility;
3)The Board recognised some years ago that future growth will come from the high margin management consultancy side of the business;this operation is being considerably beefed up and there appears to be no shortage of opportunity in both the public and private sectors.I would expect revenue growth in this sector for many years to come from the company's relatively small current base;
4)At the end of the day it is all about management and I have every confidence that Messrs Rommel,Anthony,Firth and Conoley have the vision,ability,ambition not to mention common sense to make things happen at Parity.
5)2019 will be the first complete year of earnings without exceptionals and this in my opinion should produce no less than 2.5p per share and rising;assuming a p/e of 12 this indicates a share price of 30p which is hardly ambitious at this stage in the company'growth.
Things are now getting seriously into gear at Parity and I have no doubt that before long aided and abetted by a dividend payout possibly beginning in 2020 the company will become a growing star of the AIM sector.

[chrisdgb] 24/5/2018 11:23

Nice agm:

"Looking ahead, with improving profitability and strong cost control, we anticipate that further progress in higher margin sales and cash generation will support targeted investment to accelerate growth and enable the Board to review the opportunity to pay dividends to shareholders in the medium-term."

[inbrackets] 24/5/2018 10:07

They continue to talk the dividend carrot, in the medium term, however long that might be. Would probably help the qualification for the share options.