The Staffing and Employability organisation
3-Jan-2018 – 1010p – £281.3m – PER 8.47
Trading Update For The Year Ended December 2017 – In-line, Revenue up circa 9% to £882.4m (in-line with market expectations) but slightly below (our) £1b target.
Looks reasonably priced here for those with an appetite for the sector – A technical Stop around the 950p level looks prudent.
24-Jan-2018 – 1006p – £280.2m – PER 8.57
Audited Results For The 12 Months To End December 2017 – This looks like a slight miss to me, Revenue is up 8.5% to £957.8m but underlying PBT (£36.3m) was below that of 2016. Note, the CFO has been promoted to CEO and a new CFO has been brought in.
I still see this as just reasonably priced and will remain Neutral.
17-May-2018 – 970p – £270.1m – PER 8.28
AGM Statement – In-line.
Perhaps slightly under priced? Anyway, I will remain Neutral.
4-Jul-2018 – 933p – £260.7m – PER 7.92
I remain Neutral.
25-Jul-2018 – 1052p – £299.6m – PER 9.09
Interim Results For The 6 Months To End June 2018 – Revenue up 12% with Underlying PBT down 6.8% and Underlying Diluted EPS down 5.8%. Expecting to meet 2018 expectations.
I remain Neutral here.