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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Robert Walters Plc | LSE:RWA | London | Ordinary Share | GB0008475088 | ORD 20P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-6.00 | -1.45% | 407.00 | 407.00 | 414.00 | 408.00 | 407.00 | 408.00 | 11,366 | 15:40:59 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Employment Agencies | 1.1B | 39.1M | 0.5343 | 7.62 | 297.83M |
Date | Subject | Author | Discuss |
---|---|---|---|
10/7/2019 18:23 | Thanks, hadn't clocked that.May just wait now and see how this goes before dipping my toe. Doubt H1 on the 25th will be any different in terms of their outlook for the year but you never know. | discodave4 | |
10/7/2019 18:02 | Page results poor probably did not help | gswredland | |
10/7/2019 17:49 | Strange reaction IMO for a quality company reporting that expectations are in line for the year. Happy to wait and see where this ends up. | discodave4 | |
09/7/2019 20:55 | Should be 21p H1 diluted eps which is as they say on target for the year. | discodave4 | |
09/7/2019 11:27 | What on earth happened at midday? | spot1034 | |
09/7/2019 11:02 | Good update. UK as expected but a great performance overall. Truly global business with a strong balance sheet. | saurish | |
09/7/2019 07:21 | Looks like c £205m net income then for H1, growth high single digit. | discodave4 | |
09/7/2019 06:20 | Well that was short but sweet really wasn't it? UK of course lacklustre but 76% of revenue now from the rest of the world so really very well diversified. Not a challenging valuation here despite the rising forecasts. | thorpematt | |
08/7/2019 17:50 | Q2 update tomorrow so guess some shenanigans at close. Looking good value now. | discodave4 | |
05/6/2019 11:32 | Black rock have lightened stake into the rise, but still significant stake. | 18bt | |
20/5/2019 08:39 | IC recommendation at the weekend and the slides from the Capital Markets day are well worth reading. | 18bt | |
16/5/2019 19:11 | Fundamentals are in place for 800p and more. However, market confidence is lacking, once it starts to come back it will be hard stopping this one. | saurish | |
25/4/2019 12:30 | Added today c.570p , look very under appreciated by the market, did touch 800p not that long ago. | its the oxman | |
01/3/2019 10:48 | Yep, long term winner. | its the oxman | |
01/3/2019 08:27 | Excellent results.... | gconvery | |
25/1/2019 16:13 | Thanks sper for some excellent feedback. I'm glad that you enjoyed the article. Thinking back I don't remember RWA giving much colour around their revenue streams. In fact I think they only give the broad perm/temp split of 65%/35% or something similar to that level. Your point about the temp business being more valuable is an interesting one. It sucks up a lot of working capital but it's certainly more flexible and scalable. I may think about the split for other similar recruiters like Pagegroup. | randomambler | |
25/1/2019 15:22 | RandomAmbler Very interesting analysis, very useful. Gross margin discussions are always interesting for recruitment companies as it is one area where a declining margin can be a positive to the valuation of a company! Recruitment company margins are predominantly made up of two revenue streams, temp and perm. Perm margins are normally 100% as there is no direct cost of sale. Temp margins are reported less the cost of the temps wages, NIC, etc. Two factors therefore affect the overall gross margin. The temp margin and the business mix; the proportion of temp vs perm business. Temp business tends to be valued more highly as it is repeat business and doesn't tend to decline as rapidly as perm in volatile, recessionary markets. In fact temp businesses can be seen to experience growth at times of economic uncertainty as companies favour the flexibility of temp over perm hires. The relative proportion of these revenue streams should therefore affect the PE multiple. Assessing the PE should therefore include an appreciation of the business mix and growth of temp. But back to RWA. They also have Resource Solutions, a very strong RPO provider. This muddies the waters somewhat, as the margins will be a combination of the above but will include a cost of sales for temp and perm fees where they sub-contract out to smaller recruiters. RPO margins will probably be quite small but because they undertake all recruitment for a particular organisation (thinking Financial conduct Authority) their risk is somewhat diluted and substantially less volatile! I've never looked at their results close enough to see if this can all be extracted in order to gain an appreciation of the relative strength of their revenue streams! Apologies if you know all this, I thought it was worth pointing out because I found your analysis useful and wanted to return a bit of the favour! Thanks | sper |
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