Staffline Share Discussion Threads

[edukelis] 27/3/2024 21:59

When buying will start we will climb up… atm it’s selling for 🥜

[gripfit] 27/3/2024 21:51

550000 number

[gripfit] 27/3/2024 21:51

Do u not mean bought ?? Ie somebody has bought them for 25p?

[edukelis] 27/3/2024 18:59

600k sell after hours, never ending selling

[edukelis] 24/3/2024 09:16

Company in the best position it’s been in years, hours are up, perm margins in Ireland up, new solid contract wins people plus holding this back from explosion, waiting to see what share of 320m they will get that’s can be the catalyst. inertest rate cuts in June, exiting H2 expected! I bet company ain't gonna wait that long and will start buybacks in few weeks time to clear the last shorters remaining! 50p in 2024 let’s go! Get your milk cup 🥛 filled smelly!

[gripfit] 23/3/2024 17:46

Must be due a spike smelly🤓299;

[qsmeily456] 23/3/2024 17:25

Errrr yeah 🤣

Nice chart🫨 😃🤣

[edukelis] 22/3/2024 17:09

Need to get pass 30p Asap, 20’s not right at all

[gripfit] 22/3/2024 16:19

Aberdeen selling ..

[edukelis] 22/3/2024 14:29

great read, thanks for sharing.

[davebowler] 22/3/2024 14:09

Zeus-
Robust results Staffline’s FY23 results present a resilient trading performance throughout tough market conditions. FY23 Adj. EBIT of £10.3m is 2.0% ahead of the £10.1m we forecast and, impressively, is broadly in line with our original £10.4m estimate set over a year ago in January 2023, testament to the Group’s resilient model and strong cost control. The Temp recruitment business has renewed key contracts and gained market share, and, whilst Perm activity has been softer YOY, Staffline has outperformed the wider UK market. Continued trading resilience and strong cash generation reaffirms our view that Staffline’s shares are deeply undervalued.  FY23 results: Staffline’s FY23 results were well flagged in a trading update earlier in the year. Group revenue from continuing operations increased 1.1% to £938.2m, with Group gross profit 1.5% lower at £80.8m, driven by a change in mix as the Temp business took market share but there was weaker demand for the higher-margin Perm business. Group underlying EBIT declined 14.2% from £12.0m to £10.3m and conversion from GP to OP fell 1.9pp to 12.7%. However, these figures are broadly in line with our estimates set at the start of FY23 (EBIT: £10.4m), which we view as a robust performance considering prevailing market conditions and the poor performance of larger peers (see below). The reported figures include one-off costs for the closure of the in-person skills training business of PeoplePlus, including an £8.9m noncash goodwill impairment. A highlight of results was the strong net cash position of £3.8m (ex. IFRS 16 leases), which was £7.3m ahead of estimates prior to the trading update in January, despite £5m spent on share buybacks in FY23. The balance sheet strength facilitated a renegotiation its banking facilities on improved terms, expected to lower borrowing costs.  Labour market: The latest UK labour market data showed very slight signs of softening in measures such as the number of job vacancies and wage growth, but continued tightness through measures such as a low unemployment rate (3.9%). Although, by the ONS’s own admission, Labour Force Survey estimates should be treated with caution due to small sample sizes. We continue to think that there remains underlying strength in the labour market by historic standards and this indicates the potential for a sharp recovery for UK recruiters once confidence improves and labour market activity accelerates. In our view, Staffline is well placed to benefit from this recovery.  Staffline outperforms larger UK peers: Staffline’s results compare favourably versus the UK reporting segments of its large cap recruitment peers. Robert Walters’ FY23 results showed an 18% decrease in UK NFI (16% of the Group) and a -0.7% conversion rate from NFI to EBIT. PageGroup reported UK NFI down 16.4% in FY23 (12% of the Group) and a -2.2% conversion rate. This supports our long-held view that Staffline has a resilient, diversified business model that can outperform through downturns.  Forecasts: Encouragingly, Staffline has had a good start to FY24, with Temp recruitment hours up 5.5% in the first ten weeks and the pipeline for Perm at record levels in Ireland due to recent contract wins such as with the RoI’s Garda. Having adjusted forecasts for FY24 and FY25 earlier in the year (see 24 January research), we leave trading estimates unchanged today. EBIT in FY24 is expected be lower than FY23 due to several profitable PeoplePlus contracts that have now finished. However, there is a large (c. £310m) outstanding bid pipeline for PeoplePlus, which could have a positive impact on FY25 and future years if successful. FY26 estimates are introduced showing a sequential recovery in each division.  Valuation: Trading on 4.7x FY24 EV/EBIT, Staffline continues to be at a steep discount (46%) to the average of its UK recruitment, UK outsourcing, and international temporary staffing peers (8.8x average). With Staffline’s resilient, diversified business model and longstanding blue-chip client base, we think this discount is unjustified. The £5m spent on share buybacks during FY23 demonstrates the Group’s cash generative nature. We remain comfortable with our DCF valuation estimate of 52.5p per share, representing 94% upside to last night’s closing price.

[casholaa] 22/3/2024 13:07

Since 4th January Schroeder have gone from 9.25% to 14.96%

So if Schroeder picked up 3.3m this week, who picked up the other 1.7m??

[casholaa] 22/3/2024 08:18

Indeed but, even with today's update the combined rns's raise their holding by circa 2.21% - the rest of my maths may be off.

[gripfit] 22/3/2024 08:02

Cheeky RNS .. Shroders at it again..

[edukelis] 21/3/2024 21:42

they bought back shares worth 5m and planning to issue 5million worth of shares as a bonuses for themselves in couple years time, so the company and investors are -10m£. for them it's win win the only winners here are Albert and Daniel as they keep issuing more and more shares to themselves and at companies and investors expenses doing buybacks to boost their holdings :D

[gripfit] 21/3/2024 21:20

Someone put it down…

[walterhwhite] 21/3/2024 20:26

All those who bought at 50p have averaged down since cos they realised how extortionate 50p is now on reflection. Even all the management bought 40-50p and realise they are gonna lose so have since craftily awarded themselves free shares which technically brings their average down to 20s LOL. Stinks to the core this dog!

[casholaa] 21/3/2024 16:11

I can't disagree with your thoughts on that.

[edukelis] 21/3/2024 15:03

Shroders buy cheap and sell for a quick profit, they were the main sellers at 33-34p in August, now they adding up when it was 23 and now 26p... buy cheap and short it down when it goes. you can't actually blame them as if I remember correctly they have entered at 50p when there was a capital raise so trying to get some of the money back this way.

[casholaa] 21/3/2024 14:35

Any 26% combination of voting rights can prevent the company from being taken over or being taken private. Shroeders may have finally woken up.

[gripfit] 21/3/2024 14:09

Looks like a SHRODERS/ HENRY SPAIN / HRNET Monopoly …

[edukelis] 21/3/2024 12:43

other rns should follow by the end of the day

[casholaa] 21/3/2024 12:21

Shroeders have upped their stake from 12.751479% to 13.287704%. This roughly equates to 0.5%, so who bought the other circa 3% yeasteray????

[casholaa] 20/3/2024 15:50

Have a look and share your thoughts:



*I bought some shares in a bank earlier today and they are showing as 'off-book' on the stock exchange website????

[casholaa] 20/3/2024 15:43

The way I see it. If a vote of 75% is not achievable for a takeover, I don't think that it's any different for proposing to take a company private by delisting from AIM. Are my thoughts erroneous?

I really hope that that 5m was HRNet buying instead of selling.