Partway Share Discussion Threads

[chrisdgb] 29/9/2023 09:07

Made Tech should buy them.......

[hedgehog 100] 17/9/2023 10:39

In the eight previous years prior to last year, PTY's interim results were announced on or before 22nd. September, so I wouldn't be surprised to see them announced this coming week - i.e. on or before Fri. 22nd. September 2023:-

22/09/2021 07:00 UK Regulatory (RNS & others) Parity Group PLC Interim Results LSE:PTY Parity Group Plc

22/09/2020 07:00 UK Regulatory (RNS & others) Parity Group PLC Interim results LSE:PTY Parity Group Plc

20/09/2019 07:00 UK Regulatory (RNS & others) Parity Group PLC Half-year Report LSE:PTY Parity Group Plc

20/09/2018 07:00 UK Regulatory (RNS & others) Parity Group PLC Unaduited financial report LSE:PTY Parity Group Plc

14/09/2017 07:00 UK Regulatory (RNS & others) Parity Group PLC Half-year Report LSE:PTY Parity Group Plc

08/09/2016 07:00 UK Regulatory (RNS & others) Parity Group PLC Half-year Report LSE:PTY Parity Group Plc

15/09/2015 07:00 UK Regulatory (RNS & others) Parity Group PLC Half Yearly Report LSE:PTY Parity Group Plc

10/09/2014 07:00 UK Regulatory (RNS & others) Parity Group PLC Half Yearly Report LSE:PTY Parity Group Plc


If the results aren't accompanied by a takeover of PTY, then we could well see more director share buying at the current depressed s.p., if they're not constrained by insider info.

They were buying not that long ago at over 2.6 x the current share price of 2.75p:-


09/05/2022 18:10 UK Regulatory (RNS & others) Parity Group PLC Director Dealing LSE:PTY Parity Group Plc

"Parity Group plc (AIM:PTY) (the "Company"), the data and technology-focussed recruitment and professional services company, has been notified that on 5 May 2022, Michael Johns (CFO), purchased 139,082 ordinary shares of 2 pence each in the Company at a price of 7.19 pence per share.

Michael Johns now has interests over 139,082 ordinary shares representing approximately 0.13% of Parity's issued share capital. ..."




04/11/2021 07:00 UK Regulatory (RNS & others) Parity Group PLC Director/PDMR Shareholding LSE:PTY Parity Group Plc

"Parity Group plc (AIM:PTY) (the "Company"), the data and technology-focussed recruitment and professional services company, has been notified that on 3 November 2021, Mark Braund (Executive Chairman), purchased 134,660 ordinary shares of 2 pence each in the Company at a price of 7.412 pence per share.

Mark Braund now has interests over 134,660 ordinary shares representing approximately 0.13% of Parity's issued share capital. ..."

[hedgehog 100] 15/9/2023 08:17

PTY's interim results are due by the end of September (announced on 29th. September last year).

And if a company is being taken over, this is sometimes announced in tandem with the company's results.

Here are a couple of relatively recent examples:-


1. In August last year, RPS unveiled such a takeover alongside its interim results:-

09/08/2022 07:00 UK Regulatory (RNS & others) RPS Group PLC Interim Results LSE:RPS Rps Group Plc
09/08/2022 07:00 UK Regulatory (RNS & others) WSP Global Inc. Offer for RPS Group plc LSE:RPS Rps Group Plc




2. Last September, ATQT did the same thing:-

29/09/2022 07:00 UK Regulatory (RNS & others) ATTRAQT Group PLC Half Year Results LSE:ATQT Attraqt Group Plc
29/09/2022 07:00 UK Regulatory (RNS & others) Crownpeak Technology, Inc. Recommended Acquisition of Attraqt LSE:ATQT Attraqt Group Plc

[kinwah] 12/9/2023 08:38

Something odd about this share. The share price gets marked down but I can't even buy 50,000 shares. I agree it's becoming too much of a lifestyle company where the directors are taking too much out of the business.

[diku] 12/9/2023 07:27

Very soon the BOD salary will be out of proportion with market cap...

[chrisdgb] 07/9/2023 13:06

Bit of volume last two days........

[onjohn] 05/9/2023 17:07

Going to a penny

[hedgehog 100] 05/8/2023 14:01

ONJohn 4 Aug '23 - 07:50 - 7023 of 7029 0 0 1
"In line with many others within the recruitment sector, Parity has seen market conditions become more challenging over recent months with economic uncertainty resulting in clients and new business opportunities deferring hiring decisions. As a result, we are expecting first half revenue to be 10% lower than that achieved in the second half of 2022.
Penny today?"

tomboyb 4 Aug '23 - 08:23 - 7025 of 7029 0 1 0
"I don't think so -
10% reduction already factored in -"


Well done Tomboyb - you were clearly spot on.

PTY finished unchanged on the day yesterday, closing at 3p for the weekend.

Perhaps some of yesterday's buyers actually thought that a mere 10% reduction in H1 revenue was relatively good, considering the very challenging macroeconomic headwinds at the moment?

Earlier this year for example, HEIQ reported a shocking fall in Q4 demand of up to 70%:-

04/01/2023 07:00 UK Regulatory (RNS & others) HeiQ PLC Trading Update and Acquisition LSE:HEIQ Heiq Plc
" ... Whilst trading during the third quarter of FY 2022 remained reasonable, worsening macroeconomic conditions into Q4 have resulted in a significant deterioration in consumer demand which, in turn, impacted the Group's sales during the period. This reduction in sales has been compounded by brands having increased their levels of inventory to all-time highs after the pandemic due to persisting supply chain concerns. HeiQ's customer base had up to 70% less demand in Q4. HeiQ's sales in China suffered especially, due to pandemic related regional lockdowns and half of the forecasted annual sales did not materialize. ..."



Two key differences helping PTY's relatively robust performance are its lack of exposure to retail spending, and it's lack of exposure to more discretionary products like premium clothing.

Though even non-premium retail spending is under pressure at the moment, as shown by the current travails at Wilko:-

"Wilko homeware chain on brink of collapse

2 days ago Comments

By Lora Jones
Business reporter, BBC News

UK homeware retailer Wilko has warned that it is on the brink of collapse, putting some 12,000 jobs at risk.

The privately owned company said it had filed a "notice of intention" to appoint administrators after failing to find enough emergency investment.

Wilko, which has 400 UK stores across the UK, is well-known for its affordable everyday items. ..."

[hedgehog 100] 04/8/2023 15:16

04/08/2023 07:00 UK Regulatory (RNS & others) Parity Group PLC Trading Statement LSE:PTY Parity Group Plc
" ... During H1 2023, Parity successfully won a place on the coveted public sector RM6277 framework, which has an estimated spend of circa GBP2bn over the next four years, though it is not possible at this stage to quantify what level of revenue might accrue to Parity. This framework, which went live on 25 July 2023, represents a significant opportunity for Parity to expand further into the public sector at a time when there are increasing headwinds affecting the broader recruitment market. ..."



This good PTY news today should generate substantial revenues for the company, and is a testament to the company's quality.

From the website of The Recruitment Co.:-

"Being an approved framework supplier demonstrates that we are a trusted, respected and ethical provider of quality recruitment solutions. We put purpose at the heart of everything we do, and we are proud to attract and place the best talent into frontline roles."

[hedgehog 100] 04/8/2023 13:44

15/06/2023 07:00 UK Regulatory (RNS & others) Parity Group PLC AGM Statement LSE:PTY Parity Group Plc



Hpcg,

The market seemed to take PTY's 15th. June AGM statement as a 'profit warning', as the share fell from 4.5p to 4p on the day.

(Whereas with today's 'profit warning', the share price is currently unchanged on the day at 3p.)

So perhaps you mean: " ... this is the SECOND profit warning of several to come."


But personally, I think that from the current depressed revenue level, there's good scope for it to rebound again, and in the meantime the company seems to be managing its finances very well.

I would agree though that the cost base has a more than proportionate impact than with a larger company, and that is a major reason why a predator would be interested: i.e. to strip out duplicated costs to save money. And also to embrace cross-selling opportunities.

[hedgehog 100] 04/8/2023 13:18

04/08/2023 07:00 UK Regulatory (RNS & others) Parity Group PLC Trading Statement LSE:PTY Parity Group Plc

"Parity Group plc (AIM: PTY), the data and technology-focussed recruitment and professional services company, announces a trading update for the six months ended 30 June 2023.

During H1 2023, Parity successfully won a place on the coveted public sector RM6277 framework, which has an estimated spend of circa GBP2bn over the next four years, though it is not possible at this stage to quantify what level of revenue might accrue to Parity. This framework, which went live on 25 July 2023, represents a significant opportunity for Parity to expand further into the public sector at a time when there are increasing headwinds affecting the broader recruitment market.

In line with many others within the recruitment sector, Parity has seen market conditions become more challenging over recent months with economic uncertainty resulting in clients and new business opportunities deferring hiring decisions. As a result, we are expecting first half revenue to be 10% lower than that achieved in the second half of 2022.

In spite of the lower H1 performance, the business has improved its working capital management and reduced net debt to GBP0.7m as at the 30 June 2023 (compared with GBP2.3m net debt as at 31 December 2022).

With market conditions not expected to improve in the near term and a key client signalling a shift towards a more global supply chain, Parity is prioritising resources to exploit its strengths and opportunity within the public sector, and in particular the new RM6277 framework. As a consequence, the new business initiatives targeting the private sector, which included permanent recruitment services, have been scaled back and with a resultant reduction in headcount.

Historically, Parity's core business, servicing contract recruitment within the public sector, has been one of the most resilient areas when recruitment markets turn down. The Company sees this as a core strength of the business and will be looking at how the Company can leverage this to maximise value for shareholders.

Contacts

Parity Group plc Tel: + 44 (0) 20 8171
1729

Mark Braund, Chairman www.parity.net
Mike Johns, Chief Financial Officer

Allenby Capital Limited (Nominated Adviser Tel: [phone]
and Broker) 5656

David Hart / Dan Dearden-Williams (Corporate
Finance)
Tony Quirke (Sales and Corporate Broking)"

[hpcg] 04/8/2023 08:01

Closed my insignificant and tiny short this morning. Things will get worse, and central costs, not least those to stay listed, will overwhelm a reduced operational base. Too small to make more than beer money from given the inevitable volatility of nanocaps. That said I'd renter higher as this is the first profit warning of several to come.

[tomboyb] 04/8/2023 07:23

I don't think so -

10% reduction already factored in -

[onjohn] 04/8/2023 06:51

Factoring the debt and rates rising. No money here.

[onjohn] 04/8/2023 06:50

In line with many others within the recruitment sector, Parity has seen market conditions become more challenging over recent months with economic uncertainty resulting in clients and new business opportunities deferring hiring decisions. As a result, we are expecting first half revenue to be 10% lower than that achieved in the second half of 2022.



Penny today?

[chrisdgb] 04/8/2023 06:36

Trading update out..........

[hedgehog 100] 02/8/2023 17:23

Recent Share Trades for Parity (PTY)
Date Time Trade Prc Volume Buy/Sell Bid Ask Value
02-Aug-23 12:13:56 3.00 13,750 Sell* 3.00 3.50 412.50 O
02-Aug-23 09:45:41 3.00 20 Sell* 3.00 3.50 0.60 O


Chris,

I'm rather surprised that a sale of £412.50 can create 'desperation' in you, especially as the ask price wasn't reduced afterwards from 3.5p; just a bid price price reduction to 2.5p, to lower the mid price to 3p.

We did have an update PTY quite recently, on 15th. June; which the market took negatively, though I thought that the update was quite encouraging considering the wider economic challenges at the moment.

So personally I'm pretty positive here.

Of course I could be wrong about PTY, but I like the risk-reward ratio: and on average I make money buying into these sort of depressed situations.

Time will tell whether this will pay off or not, but I'm quietly confident that it will from this share price (3p).

[chrisdgb] 02/8/2023 12:52

Desperately need an update here........

[hedgehog 100] 27/7/2023 15:13

PTY's share price did move dramatically ahead of that announced possible move to AIM and fundraising, but the move was on far higher trading than now, and was commented upon by the company.

The move was also actually upwards.


10/05/2013 13:12 UK Regulatory (RNS & others) Parity Group PLC Possible fundraise and move to AIM LSE:PTY Parity Group Plc

"The Company notes the recent movement in its share price and confirms that it is in advanced discussions with new and existing investors to raise funds in order to be in a position to pursue its previously announced strategy to acquire businesses in the UK digital media market. The Company also confirms that, subject to shareholder approval, it is proposing to cancel its current listing on the premium segment of the Official List and to apply for admission to trading of its ordinary shares on the AIM market.

Further details will be announced in due course."





(PTY Chart 1.1.13 - 10.5.13)

[hedgehog 100] 27/7/2023 14:59

PTY looks very oversold and undervalued to me, so worth an investment on that basis.

You can't always conclude too much from share price movement in a share this illiquid.

Just one person selling can crash the price, and then others may start 'second guessing' themselves.

That's why many people prefer to buy when a price is rising.

And this isn't a share that's haemorrhaging cash, so I can't see why any dilution would be massive.

Note that the company's last placing was actually just over ten years ago (at 27p/share), when the company transferred from the Main Market:-

17/05/2013 12:00 UK Regulatory (RNS & others) Parity Group PLC Notice of GM, Proposed Placing & Admission to AIM LSE:PTY Parity Group Plc


Of course any small listed company can potentially delist, but in PTY'S case I think that a takeover makes more sense, and is more likely.

[hpcg] 27/7/2023 10:39

It needs money, recruitment is turning down, it's too small to be listed. Indeed the only reason to stay listed is to raise cash.

[dusseldorf] 27/7/2023 10:06

I'd be careful hedgehog - everything about the price movement to me suggests either a massive dilution incoming or it's being taken off market

[hedgehog 100] 26/7/2023 17:30

From this thread header:-

"Long-term investors in Parity will have witnessed the rise and the fall of a business which at its peak in 2000 was worth around £1 billion."


The billion pound valuation was obviously far too much, in line with the technology bubble at that time.

But now, at an all-time low of just 3.25p, market cap. £3.35m., the share price looks to have overshot in the opposite direction.


PTY's skilled technology staff of over a thousand are a scarce resource, and as such the share is deserving of a far more generous rating to reflect that:-

"Data analysts jobs and talent outlook (UK)
Data analysts are in demand, with just 2 candidates per current vacancy. If you're searching for these skilled professionals, you might be suffering from increased time and cost to hire. ..."

[hedgehog 100] 26/7/2023 10:28

More good news for the sector today, with RTC more than doubling on good interim results:-

LSE % Gainers Top Lists
EPIC Name %
ACT Actual Experience +152%
DISH Amala Foods +131%
RTC Rtc +108%

26/07/2023 07:00 UK Regulatory (RNS & others) RTC Group PLC Interim Results LSE:RTC Rtc Group Plc

"Interim Results for the Six Months Ended 30 June 2023

RTC Group Plc (AIM: RTC.L), the engineering and technical recruitment Group, is pleased to announce its unaudited results for the six months ended 30 June 2023. ..."

[hedgehog 100] 25/7/2023 12:16

25/07/2023 07:00 UK Regulatory (RNS & others) SThree plc RESULTS FOR THE SIX MONTHS ENDED 31 MAY 2023 LSE:STEM Sthree Plc

"RESULTS FOR THE six monthsED 31 MAY 2023

Resilient performance in H1 driven by our contract business

SThree plc ('SThree' or the 'Group'), the only global pure-play specialist staffing business focused on roles in Science, Technology, Engineering and Mathematics (STEM), today announces its financial results for the six months ended 31 May 2023. ..."




The market seems to like STEM's interim results today: the share is up 13.5p so far today (3.87%), to 362.5p.

And PTY's H1 trading update should be imminent.