Record (REC)

Sector:

Financials

Index:

FTSE Small Cap

 68.00p
   
  • Change Today:
      0.000p
  • 52 Week High: 87.20
  • 52 Week Low: 58.00
  • Currency: UK Pounds
  • Shares Issued: 199.05m
  • Volume: 0
  • Market Cap: £135.36m

Record H1 profits drop as margins contract

By Iain Gilbert

Date: Friday 17 Nov 2023

LONDON (ShareCast) - (Sharecast News) - Management consulting services company Record said on Friday that profits had slumped in the six months ended 30 September.
Interim revenues fell 3% to £21.5m, while pre-tax profits decreased by 16% to £6.3m and operating margins contracted from 34% to 29%. Basic earnings per share dropped 24% to 2.48p.

Management fees increased by 3% to £19.6m, but performance fees tumbled 46% year-on-year to £1.5m.

Despite the generally disappointing numbers, the London-listed group opted to hike its interim dividend by 5% to 2.15p per share.

Record also revealed that chief executive Leslie Hill will retire from the role at the end of the current financial year after 31 years in the job. Dr Jan Witte was tapped as CEO elect, effective from 1 January.

Hill said: "Our growth in financial terms is not linear and delays in new product launches alongside stubbornly high inflation have led to a decrease in our operating margin for the period.

"The board remains confident in the delivery of market expectations for the current financial year. I believe the business remains capable of delivering on the targets set out in February, albeit achieving them may take longer than originally anticipated."

As of 0905 GMT, Record shares were down 8.24% at 64.60p.







Reporting by Iain Gilbert at Sharecast.com

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Record Market Data

Currency UK Pounds
Share Price 68.00p
Change Today 0.000p
% Change 0.00 %
52 Week High 87.20
52 Week Low 58.00
Volume 0
Shares Issued 199.05m
Market Cap £135.36m

Record Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
5.19% above the market average5.19% above the market average5.19% above the market average5.19% above the market average5.19% above the market average
14.29% below the sector average14.29% below the sector average14.29% below the sector average14.29% below the sector average14.29% below the sector average
Price Trend
35.45% below the market average35.45% below the market average35.45% below the market average35.45% below the market average35.45% below the market average
27.59% below the sector average27.59% below the sector average27.59% below the sector average27.59% below the sector average27.59% below the sector average
Income
69.33% above the market average69.33% above the market average69.33% above the market average69.33% above the market average69.33% above the market average
32.35% above the sector average32.35% above the sector average32.35% above the sector average32.35% above the sector average32.35% above the sector average
Growth
18.24% below the market average18.24% below the market average18.24% below the market average18.24% below the market average18.24% below the market average
6.67% above the sector average6.67% above the sector average6.67% above the sector average6.67% above the sector average6.67% above the sector average

What The Brokers Say

Strong Buy 0
Buy 1
Neutral 0
Sell 0
Strong Sell 0
Total 1
buy
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Record Dividends

  Latest Previous
  Final Special
Ex-Div 11-Jul-24 11-Jul-24
Paid 02-Aug-24 02-Aug-24
Amount 2.45p 0.60p

Trades for --2024

Time Volume / Share Price
0 @ 0.000p

Record Key Personnel

CEO Jan Witte
CFO Richard Heading

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