Record (REC)

Business description

Record Plc is a specialist currency manager, providing currency hedging and return seeking mandates to institutional clients. Services include passive and dynamic hedging and return seeking currency strategies via funds or segregated accounts.

Stock data

Market cap.£74.2m
Last close33.50p
High / Low (52 weeks)33.8p / 22.1p
Stock market listingLN
Forecast net cash (£m)23.9
Forecast gearing ratio (%)N/A
TeamFinancials
SectorFinancials

Price performance

%1m3m12m
Actual15.534.014.5
Relative *17.934.39.4

* % Relative to local index

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Company news

Record Plc Stock Is Rising Now

Tue, 29 Nov 2016 18:12:14 GMT

Steve Cullen Acquires 704 Shares of Record Plc (REC) Stock

Wed, 30 Nov 2016 12:28:15 GMT

The Record Plc (REC) To Go Ex-Dividend on December 1st

Fri, 02 Dec 2016 10:37:51 GMT

Bob Noyen Purchases 90315 Shares of Record Plc (REC) Stock

Tue, 22 Nov 2016 15:22:30 GMT

What's Propelling Record Plc to Increase So Much?

Fri, 18 Nov 2016 16:43:37 GMT

Y/E Mar Revenue (£m) EBITDA (£m) PBT (£m) EPS (fd) (p) P/E (x) P/CF (x)
2015A 21.1 7.7 7.5 2.65 12.6 11.3
2016A 21.1 7.2 7.0 2.54 13.2 12.6
2017E 21.7 7.4 7.2 2.62 12.8 12.5
2018E 23.1 8.2 8.1 2.91 11.5 11.6

Last updated on 25/10/2016

Latest research

Steady performance and growing recognition

Update | Financials | 25/11/2016

Positive Q2 trading update

Update | Financials | 25/10/2016

Dividend upside

Update | Financials | 25/07/2016

Possible beneficiary of US dollar strength

Update | Financials | 01/12/2015

Reduction in size of a bespoke mandate

Update | Financials | 26/08/2015

Attractive growth and dividend increased

Update | Financials | 02/07/2015

Net client inflows on their way

Update | Financials | 22/01/2015

Daily comment

Institutional Comment | Financials | 16/01/2015

Steady profits in H115

Update | Financials | 27/11/2014

Daily comment

Institutional Comment | Financials | 14/11/2014

Daily comment

Institutional Comment | Financials | 18/07/2014

FY14 strong volumes at lower fee margin

Update | Financials | 24/06/2014

Investment summary

First-half results announced on 18 November held no surprises after a detailed Q217 trading update issued in October. While underlying profits were down modestly year-on-year, this reflected lumpy allocations to a tactical mandate in H116. More importantly, assets under management equivalents (AUME) and client numbers increased and the company reports that the recent prominence of currency volatility has helped to increase interest in a range of Record’s products. The current rating of c 12x FY17e earnings appears conservative and the ordinary yield (before any special payment) stands at over 5%.

Last updated on 25/11/2016

Industry outlook

The signs of increased investor interest in Record products as a result of heightened FX volatility are positive although the pace of institutional mandate decisions means this is likely to be evident over the medium rather than near term. Nevertheless, the combination of net AUME flows reported and the weakness in sterling contribute to earnings estimate increases of 17% and 26% for FY17 and FY18, respectively.

Last updated on 02/11/2016

Key management

Neil Record, Chairman
James Wood-Collins , CEO
Steve Cullen , CFO
Bob Noyen, Chief Investment Officer

Company address

Morgan House
Madeira Walk
Windsor
SL4 1EP
United Kingdom
View website