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RWA Robert Walters Plc

407.00
-6.00 (-1.45%)
28 Mar 2024 - Closed
Delayed by 15 minutes
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
Robert Walters Plc is listed in the Employment Agencies sector of the London Stock Exchange with ticker RWA. The last closing price for Robert Walters was 413p. Over the last year, Robert Walters shares have traded in a share price range of 344.00p to 490.00p.

Robert Walters currently has 73,176,270 shares in issue. The market capitalisation of Robert Walters is £297.83 million. Robert Walters has a price to earnings ratio (PE ratio) of 7.62.

Robert Walters Share Discussion Threads

Showing 776 to 792 of 1000 messages
Chat Pages: 40  39  38  37  36  35  34  33  32  31  30  29  Older
DateSubjectAuthorDiscuss
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
Chat Pages: 40  39  38  37  36  35  34  33  32  31  30  29  Older

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