Harvey Nash (HVN)

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The global technology recruitment and outsourcing group

2-Mar-2018 – 86.9p – £63.8m – PER 6.63

Trading Update For The 12 Months To End January 2018 – In-line (revised up 3 times during the year), PBT to be up circa 22%.

Having sat on the fence in this sector for perhaps too long and although I don’t like the Operating Margin here, I am going to put this on my Watchlist, 84p – Might even pick a few up this morning.

6-Jun-2018 – 106p – £77.9m – PER 7.64

Trading Update – Strong growth continues.

Now wishing I hadn’t waited for a pull-back circa 80p – Will revise my Watchlist price to 100p although a break-out above 106p also looks like a potential entry (so as not to miss out again perhaps!).

Subsequent note: Seems a takeover is a done deal here so will not comment further – Unless this changes.

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