|High / Low (52 weeks)||43.8p / 28.2p|
|Stock market listing||LSE|
|Forecast net debt (£m)||N/A|
|Forecast gearing ratio (%)||N/A|
* % Relative to local index
Other companies in sector Show
|Y/E Mar||Revenue (£m)||EBITDA (£m)||PBT (£m)||EPS (fd) (p)||P/E (x)||P/CF (x)|
Last updated on 26/03/2014
Record has issued a trading update for the fourth quarter of its fiscal year that ended 31 March 2014. Full-year results will be published on 17 June. Modest fund inflows and relatively stable fee margins in Q4 lead us to confirm our FY14 estimates. A changing mix of AUME at year-end, as well as the previously announced dynamic hedging mandate loss, feed through into a lower FY15 forecast (c 13% lower PBT). Our forward estimates continue to include no new business wins, an assumption that could easily be conservative given increased levels of interest in currency management strategies among potential clients and their consultants.
Last updated on 24/04/2014
Record believes there is a particular opportunity for US investors to benefit from a currency hedging strategy. US investors holding assets denominated in foreign currencies have benefited from the weakness of the US dollar on a trade-weighted basis since 2001. However, this cycle may reverse, potentially eroding the additional unhedged gains US investors have enjoyed over the period.
Last updated on 31/03/2014
|Neil Record, Chairman|
|James Wood-Collins , CEO|
|Steve Cullen , CFO|
|Bob Noyen, Chief Investment Officer|