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.£86m
Last close38.88p
High / Low (52 weeks)40.0p / 24.0p
Stock market listingLN
Forecast net cash (£m)24
Forecast gearing ratio (%)N/A

Price performance

Relative *5.617.817.4

* % Relative to local index

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Company news

The Record Plc (REC) Insider Buys £536.76 in Stock

Sun, 26 Feb 2017 06:55:18 GMT

Pan African Resources to pay out a record £17mln to investors as first-half ...

Wed, 22 Feb 2017 09:35:09 GMT

'Experience, expertise and track record' sets TMT Investments PLC apart

Wed, 01 Feb 2017 13:51:39 GMT

Rolls-Royce see shares slump after record loss, but has corner been turned?

Tue, 14 Feb 2017 12:00:00 GMT

Record-breaking six months for eg solutions

Mon, 13 Feb 2017 07:57:18 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 14.7 N/A
2016A 21.1 7.2 7.0 2.54 15.3 N/A
2017E 21.9 7.6 7.4 2.64 14.7 N/A
2018E 23.5 8.5 8.4 2.97 13.1 N/A

Last updated on 25/01/2017

Latest research

Good performance in uncertain times

Update | Financials | 25/01/2017

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

Investment summary

Record’s Q317 trading update continued a series of positive updates through the financial year. It showed an increase in assets under management equivalent (AUME), positive currency for return performance and reported continuing interest in the company’s products in a climate of political and economic uncertainty. We have slightly raised our estimates to account for the higher AUME and recent dollar strength. Against this background, the rating of 13.7x FY17e earnings, supported by a yield of 4.6%, appears undemanding.

Last updated on 25/01/2017

Industry outlook

Record reports that recent currency volatility accompanying the Brexit vote and US election has generated a higher level of interest among clients and potential clients across geographies and products. Institutional decisions on allocations take time so the benefits of this are likely to materialise over the medium term but the breadth of interest is encouraging.

Last updated on 21/12/2016

Key management

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

Company address

Morgan House
Madeira Walk
United Kingdom
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