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REC Record Plc

58.00
-1.40 (-2.36%)
13 Dec 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Record Plc LSE:REC London Ordinary Share GB00B28ZPS36 ORD 0.025P
  Price Change % Change Share Price Shares Traded Last Trade
  -1.40 -2.36% 58.00 358,702 16:17:39
Bid Price Offer Price High Price Low Price Open Price
57.40 59.20 60.80 58.00 60.80
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Finance Services 45.38M 8.99M 0.0451 12.86 118.24M
Last Trade Time Trade Type Trade Size Trade Price Currency
16:35:29 UT 22,997 58.00 GBX

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Posted at 14/12/2024 08:20 by Record Daily Update
Record Plc is listed in the Finance Services sector of the London Stock Exchange with ticker REC. The last closing price for Record was 59.40p.
Record currently has 199,054,325 shares in issue. The market capitalisation of Record is £115,451,509.
Record has a price to earnings ratio (PE ratio) of 12.86.
This morning REC shares opened at 60.80p
Posted at 15/11/2024 13:49 by brucie5
I'm glad there's someone else here. All good it seems on the the good ship Rec. And a new infrastructure fund being added to the mix, I understand.
Posted at 15/11/2024 11:19 by martinmc123
3*
Record Plc posted fairly average Interims this morning. Revenue was down 2% to £21.1m in line with expectations following a restructuring of a large client mandate. Profit after tax attributable to Record plc shareholders was £5.0m up 5%, Basic EPS attributable to Record shareholders was up 4% to 2.58 pence. The Interim dividend was maintained at 2.15 pence per share. The balance sheet remains strong with net cash of £14.3m. Encouragingly there was 4% growth in Assets Under Management during the period to a new high of $106.0bn...from WealthOracle

wealthoracle.co.uk/detailed-result-full/REC/981
Posted at 15/11/2024 07:15 by robsy2
Steady as she goes with the divi held at 2.15p. I did note the following;

"We continue to see opportunities for earning performance fees in some of our Passive Hedging mandates, with £1.6 million earned in the period compared to £1.5 million earned in H1 FY24. However, the exceptional performance fees of £4.3 million earned in H2 FY24 are unlikely to be repeated in the second half of this year."
While I can't see us hitting the 140p price target any time soon , we plod on profitably, dividends look safe enough and there is some growth in the pipeline.Strong hold for me.
Posted at 25/10/2024 10:14 by martinmc123
3*
Record plc issued a fairly brief trading update which was reasonable looking but not particularly exciting. AUM increased US$3.3 billion to US$106.0 billion with positive foreign exchange movements offsetting modest outflows in dynamic and passive hedging and the discontinuation of a custom interest rate swap portfolio. No performance fees crystalised in Q2 2025 but H1 2025 performance fees were £1.6m, slightly ahead of prior year H1 2024 at £1.5m...from WealthOracle

wealthoracle.co.uk/detailed-result-full/REC/912
Posted at 03/7/2024 12:47 by konradpuss
Pavey Ark, with the dividend and share price appreciation over the last five years you have made a very good return.

I am hoping they can do similar over the next five years.
Posted at 28/6/2024 14:44 by konradpuss
NChanning, my sentiments entirely, however I think when/if the Crypto fund gets off the ground, you might see a pop in the share price.

I hate Crypto, however it's not what you or I like, it is what the average idiot likes.
Posted at 28/6/2024 06:32 by robsy2
Ok ish results, raised dividend is good.
The FY-24 interim ordinary dividend of 2.15 pence per share (FY-23: 2.05 pence) was paid to shareholders on 22 December 2023, equivalent to £4.1 million.



The decision to impair previously capitalised development expenditure and to incur a one-off cost of £1.9 million has inevitably depleted the level of earnings by approximately 0.76 pence per share for the year. Notwithstanding this impact, the underlying performance of the business has been strong in FY-24 with a 32% underlying profit margin, high performance fees and the launch of new funds in the year, with further launches anticipated for the current financial year.



With this in mind, the Board remains confident in the future trajectory of the Group and consequently comfortable with the current dividend policy. As disclosed in the Chairman's statement, the Board is recommending a final ordinary dividend of 2.45 pence per share, equivalent to approximately £4.7 million, taking the overall ordinary dividend for the financial year to 4.60 pence per share.



Simultaneously, the Board is also paying a special dividend of 0.6 pence equivalent to approximately £1.1 million, making the total dividend in respect of the year ended 31 March 2024 of £9.9 million, equivalent to 93% of total underlying earnings.



The total ordinary and special dividends paid per share in respect of the prior year ended 31 March 2023 were 4.50 pence and 0.68 pence respectively, equivalent to total dividends of £9.9 million and representing 87% of total earnings per share of 5.95 pence.
Posted at 25/4/2024 19:02 by konradpuss
Most of the important metrics have roughly doubled over the last five years. With the new management and some big shareholders who have retired, I doubt we will get to see if the company can do this again over the next five years in the public arena.

I think Lord Lee is right about the importance of dividends. The share price can go down however the market cannot take away paid past dividends.

Results tomorrow.
Posted at 20/10/2023 06:21 by robsy2
It is just another 90 odd day period in the life of REC, but the results look ok to me.Resilient-ish though performance fees are down this year on last - so far anyway. 1.5m v 2.8m at this stage last year , FY23 5.8m , so they are an important part of the picture .
Lesley notes a slight slowdown in progress on new initiatives.
The expected yield now is 7.7% for the year ending 31.03.24.
I have done well trading REC over the years .I say trading, but what I mean is I always hold some REC, for the divis as much as anything else, but have noted how the share price can overreact to the regular quarterly updates.
If reaction is negative then I will probably buy more if we go sub 70p.
Posted at 03/7/2023 13:55 by mpage
@adamB1978. About employee share ownership. It's a bit lower than 3-5 years ago.

Personally, I wouldn't put too much weight on this aspect - apart from senior staff where it's meant to lock them in for reason of succession planning. When the only office was in Windsor, employees might have been reluctant to commute to London. But now REC has opened a London office (good!) - this will widen the talent pool available but turnover may also be higher.

Enjoying one's job, being paid well for it and not have to suffer from sociopathic line managers make for happy employees. Staff leave because of unpleasant managers, as much as anything. A growing company company will be telling its staff that there will be opportunities for advancement.

There is a bog standard (govt subsidised) Share Incentive Plan which probably accounts for the majority of that 63%. At Record, staff have to buy 2 shares to be given 1 free. These SIPs have a 5 year lock up if one wants to avoid clawbacks on NICs and Income Tax. Maximum subscription is £3,600 per year. In many financial companies, those in the know, consider SIPs to be a form of redundancy insurance. If one is made redundant and classified as a 'good leaver' then a company might potentially hand over the entire SIP contents tax free.

"The Group operates the Record plc Share Incentive Plan ("SIP"), to encourage more widespread ownership of Record plc shares by employees. The SIP is a tax‑approved scheme offering attractive tax savings for employees retaining their shares in the scheme over the medium to long term."

So how much do employees contribute annually to their Record SIP? Well, not that much (so far) as the latest AR tells us:

"As an incentive to employees, the Group matches every two shares bought by employees with a free matching share. During the year, the Group awarded 31,039 matching shares (2022: 23,309 matching shares) to employees. The expense charged in respect of the SIP was £24,950 in the year ended 31 March 2023 (2022: £18,310."

The max that a staff member could buy in their SIP is £3600x 0.66 = £2376 per year.

The AR tells us that staff(63% of 88 = 55 staff) bought 62,078 shares in the SIP or approx 1128 shares costing say 1128 x 85p or around £1000pa out of a maximum of £2376pa. That difference tells you that most employees are simply saving a regular monthly amount, rather than the max possible. That's why I say I wouldn't put too much weight on the rank and file share ownership.

Set against these purchases, Neil Record (70) has said that while he intends to be a significant shareholder for many years to come, he will also be periodically selling traches to fund scholarships (well done that man!)

Mr Record has built up a great little niche business and I'm happy to hold and see how the growth strategy pans out over the next 2-3years.
Record share price data is direct from the London Stock Exchange

Record Frequently Asked Questions (FAQ)

What is the current Record share price?
The current share price of Record is 58p.
How many Record shares are in issue?
Record has 199,054,325 shares in issue.
What is the market cap of Record?
The market capitalisation of Record is GBP 118.24 M.
What is the 1 year trading range for Record share price?
Record has traded in the range of 56.20p to 75.00p during the past year.
What is the PE ratio of Record?
The price to earnings ratio of Record is 12.86.
What is the cash to sales ratio of Record?
The cash to sales ratio of Record is 2.54.
What is the reporting currency for Record?
Record reports financial results in GBP.
What is the latest annual turnover for Record?
The latest annual turnover of Record is GBP 45.38M.
What is the latest annual profit for Record?
The latest annual profit of Record is GBP 8.99M.
What is the registered address of Record?
The registered address for Record is MORGAN HOUSE, MADEIRA WALK, WINDSOR, BERKSHIRE, SL4 1EP.
What is the Record website address?
The website address for Record is www.recordfg.com.
Which industry sector does Record operate in?
Record operates in the FINANCE SERVICES sector.

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