Robert Walters Share Discussion Threads

[like2share] 08/8/2008 14:00

Personally used this dip as a buying opportunity, the sector is in the limelight what with the MPI attention from Adecco. HAS, RGU, STHR all doing well. No reason why RWA should not follow being a quality stock IMHO.

Alot of people shaken out after the steep rise recently.

Did you know about this...their wholly owned subsidiary...

'Resource Solutions Wins Onsite Deal at Aegon
Jun 20, 2008
UK


17 June 2008 Resource Solutions, a market leader in the provision of recruitment process outsourcing services, is delighted to have been appointed the outsource provider for Telescreening Services to AEGON UK. Resource Solutions will provide a total outsource solution for the screening and selection of external candidates to Aegon across the UK.

Commenting on the win, Darren Lancaster Commercial Director at Resource Solutions said: "I am delighted that Aegon has selected Resource Solutions to provide this critical service. It shows the flexibility of services Resource Solutions has within its portfolio. This win is further evidence of the success of our strategy to organically grow Resource Solutions with the EMEA region."

[imastu pidgitaswell] 08/8/2008 13:24

Maybe more that previous resistance of 125 or so might be new support, depending on close.

But still a very negative bias in the market these days - swift to fall back, rises are always grudging and difficult to maintain. Has sod-all to do with the valuation and fundamentals, but it's a long term game. Five quid within 5 years, unless they get taken out on the cheap.

[like2share] 08/8/2008 10:55

bargain with support at 120p IMHO

[cockneyrebel] 05/8/2008 12:35

Broker buy note out I suspect.

CR

[liarspoker] 05/8/2008 11:34

I think that these are worth a lot more than 160p CR.

Nice day though. :O)

[cockneyrebel] 05/8/2008 11:21

Order book drying up on the offer side - gonna get racey I think :-)

CR

[cockneyrebel] 05/8/2008 10:09

Breakout - and these are on a far lower valuation than MPI imo, andthe directors have been buying.

160p easily realistic after MPI today. Expect recruitment stocks all to get broker upgrades

CR

[imastu pidgitaswell] 05/8/2008 09:27

Bid for Michael Page, their nearest competitor:



Oh well, close but no cigar in terms of right sector, wrong company - demonstrates the astounding value at any rate, and any potential suitor for MPI would also consider RWA as well.

Also the recent fall suggests an attempt to clear out weak holders by those in the know. Transparency eh?

[liarspoker] 04/8/2008 11:32

Moving up nicely.

3 v 1 on level II but only with 35 shares on the offer. Next buyer will have to pay 109.25p imo.

[liarspoker] 04/8/2008 08:10

Looks like she's starting to bounce.

Interims at the end of this month with a 4.7% divi for the year.

Last trading statement was strong so looks like it's very cheap here.

All aboard. :O)

[imastu pidgitaswell] 28/7/2008 08:30

Bit extreme - distant stars and thousands of years ago - in RWA's case, NFI is 19% higher over the first 4 months than a year ago.

And it's a case of looking at company specifics. For whatever reason, this recruitment company is on under 4 times last year's earnings, the others are on typically 8-10, or 14 in the case of the never-heard-of it-before one in the above post.

Certainly in years gone by, the time to buy recruiters was in the middle of a downturn. Is it still? Have they learnt nothing in terms of diversification of income streams (temps, etc) and goegraphy, in terms of cost base management and structuring variable remuneration from what was only 5-6 years ago (unlike the last housing downturn that was 15 years ago)?

I don't know, and am sure that nobody else does yet. Best policy I think is to buy at what looks like the low but reserve funds to add lower if needs be. It may not go lower, and I've watched it go from 40p to over 400 once before and done nothing, I'm not going to do it again.

[doowle] 25/7/2008 22:02

Wages in general have been increasing in Asia hence NFI increasing.

Remember the effects of economic problems take a while to filter through the system. The results you are seeing reflect the situation a year ago like a distant star who's light shows what happened thousands of years ago.
Key is next years' results.

You are already seeing weakening in outsourcing revenues from the Indians and inventory stockpiles from the Chinese. These will feed through into hiring freezes soon.

The time to buy recruiters is in the middle of the recession not at the beginning. They haven't even shed much of their cost base yet!

[imastu pidgitaswell] 24/7/2008 07:56

More recruitment company reporting - 24% profit rise.



A 24% profit rise does question whether the analysis is quite as straightforward as the Torygraph suggests.

And it might be right to avoid a £215m company which makes £23.8m pre-tax - around 13-14 times post-tax earnings.

But not one on under 4 times earnings.

[liarspoker] 23/7/2008 09:56

RWA's strength lies in the fact that 40% of NFI comes from the Asia/Pacific region where NFI has been increasing by an average of around 30% ( compiled from data of various recruiters with a presence in the area ).

Exposure to the UK is 38% of NFI compared to say 32% of MPI & 59% of STHR. Europe accounts for 20% of group NFI so there should be a nice forex gain there in the short term. Europe NFI across the board has been increasing by about 40% on average.

The China entry should bode well for the future though as does Japan where RWA want to increase its staff by 70%.

[cockneyrebel] 23/7/2008 08:56

Chart looking good - miles cheap than MPI that's roaring away too.

CR

[imastu pidgitaswell] 21/7/2008 12:38

Ooops :-) Pity about that last non-purchase.

50 day moving average being approached.

[nigelpm] 18/7/2008 12:55

blimey! Timed it right for a change! ;-)

[imastu pidgitaswell] 18/7/2008 12:39

Who knows - I thought that a couple of days ago. Thought about adding a fourth tranche but decided not to, went for BP instead. Not a great decision so far.

At these prices it doesn't really matter - £5 within 5 years, easily (quite probably BP as well - it has been £5 for the last 5 bloody years, oil price from $15 to almost $150 notwithstansing. But let's not go there now.)

[like2share] 18/7/2008 12:21

is that bottom tested and confirmed, now northwards?

[kristini2] 17/7/2008 16:52

this is really weak, potential profits warning soon?

[nigelpm] 17/7/2008 13:20

Taken an opening buy here. Seems odd, it's down when everything else consumer facing in the market is flying

[imastu pidgitaswell] 17/7/2008 10:56

Sadly more like a little mugging by the market makers of some buyers early on. Some things never change.

[liarspoker] 17/7/2008 07:46

Could be one of the US value funds adding.

[imastu pidgitaswell] 17/7/2008 07:42

I suppose if it can fall a silly amount on pitiful volumes, it can rise similarly. MPI also up, but no news - somebody else reported?

Long term fire and forget (from 112 and 107 and 107 again), but maybe the 106 was the fabled double-bottom.