Utilico Insights - Jacqueline Broers assesses why Vietnam could be the darling of Asia for investors. Watch the full video here.
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looks rel cheap
Video interview with Joost Kreulen and Spencer Wreford Empresaria’s (LON:EMR) CEO Joost Kreulen and finance director Spencer Wreford discuss the firm’s recent “fantastic” results and its investment strategy moving forward. The specialist staffing firm delivered record pre-tax profit as earnings per share rose in the year just gone, and Kreulen says the results were ahead of expectations. Debt was reduced to below the firm’s target of 25% in the year to December 2015, and Wreford says that this “has put us in a very strong position, so we are now at a comfort level where we think we can invest further.” http://tinyurl.com/zer22xe
in anticipation of results next week.
nicely. Results soon. Target price anyone?
imv
small clips, not huge volume, wouldn't be surprised to see it bounce back up quickly
Down 7p today, can't see any news but a lot of selling, any ideas?
EMR just whizzed through the last 10-15p without pausing for breath, so I'd expect a small retrace before it goes any further. The PS acquisition has completed and the company highlighted this Hardman research note on the back of it: http://www.hardmanandco.com/system/files/research_papers/Empresaria%2021.10.15a.pdf Let's see how management bed this acquisition in now...
mellow communion with reality
so .no worry be happy
imv...20*ebitda with few synergies and in us (where execution risk is legendary)
insurance
doh...expected c60p..but whatever
someone's keen
but still reckon this may well have more retracing in it
in many mojo investor estimations ...I'll be looking to load up into any retrace sub 70p
Some exposure to China, offices in Hong Kong etc., maybe also SE Asia, generally. Not sure that all should have a huge effect, but who's sure of anything.
....?
Quiet boards are a good sign.
as all but the quietest BB..bizarre..do PIs want to make money or gamble their hard earned away??
time for £1+ imv
esp RWA:- Robert Walters is enjoying an acceleration in net fee income because 70pc of the business is exposed to the permanent jobs sector, which earns more money per person placed than the temporary recruitment sector. "John Mullane, an analyst at broker Investec (LSE: INVP.L - news) , upgraded his forecast for full year profits by 5pc to £22.3m, giving 17.5p in earnings per share, from revenue of £244m. The shares are now trading on 24 times forecast 2014 earnings, falling to 21 times next year. The shares have jumped 43pc so far this year and we retain our recommendation. Hold." (courtesy Questor..Telegraph) 24* compared to EMR's 11-12* and emr's growth forecast is pretty handy
yep...about that...though it is not such a helpful measure with minority interests ...it is the comparators that makes this compelling imv (or in other words, this is a good growing market space in which sustainable growth in EBIT is likely) ...and with decent, experienced, aligned management, hopefully execution will be good
well i wish i could remember! another calling elsewhere maybe..or shear impatience!!! need to ask what other multiples do you use here now, I get EV/EBIT to be about 8.3? is that right? mcap is 40M, debt is £17M (combining both current and non-current bororowings and cash is £7.8M that makes EBIT = 40+17-7.8 ebit is £5.9M so roughly 8.3ish what other variables are u using? TNW?
It seems that China is a fly in the ointment. Govt attempts to prop up the markets there are not working. 8% fall today. People borrowing money to buy shares (1929 comes to mind) and over capacity in the economy are proving major headaches. Blocks of flats lying empty, factories producing more than they can sell etc. Articles in the newspapers are playing this down but another 8% fall today tells me this could spread worsening contagion if it is'nt contained. You've only got to look at the commodity markets to see what falling chinese demand is doing. Fortunes will be made when the cycle turns but that is a long way from now. As you say asset prices are being supported by ridiculously low interest rates. When that ends things could get a little difficult. USA will raise rates first in my book then those countries with dollar denominated debt will start to experience trouble. In the UK asset bubbles will start to deflate and debt will become a bigger problem for most borrowers. Well I'm the fellow with his cash stuffed in the sofa but getting bored with the wait, yet when Morgan Stanley issued their warning to get out of stocks in march 2007 I stayed in cash and did'nt buy until january 2009. Maybe I need that patience again and don't get tempted by what I think may be good trades. I find it hard to read the tea leaves though. Experience has taught me that markets can suddenly turn on a sixpence catching a lot of us out. So far I've doubled my invested money by trades in MXCP and 2 nervous trades in CPX, but am well aware that lightning does'nt strike a third time in the same place. Anyway any crash will wipe away speculative stocks with no fundementals and leave even good ones a bit bruised. A bull market this is ....not imo. So what to do? Leave it alone for a while or go for quality.