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.£83m
Last close37.50p
High / Low (52 weeks)40.0p / 22.1p
Stock market listingLN
Forecast net cash (£m)23.9
Forecast gearing ratio (%)N/A
TeamFinancials
SectorFinancials

Price performance

%1m3m12m
Actual12.442.267.6
Relative *9.939.034.1

* % Relative to local index

Other companies in sector Show

3i Group Abbey Protection
Aberdeen Asset Management Admiral Group
AFH Financial Group Ai Claims Solutions
Alpha Strategic Amlin
Arbuthnot Banking Group Arden Partners
Ashmore Group Atlantis Japan Growth Fund
Aviva plc Banca IFIS
Banca Sistema Beazley
Brewin Dolphin Brightside Group
Catlin Group Cenkos Securities
ChimpChange Circle Holdings
City of London Group Collins Stewart
Covercy Curtis Banks
Custodian REIT plc DeA Capital
Deutsche Börse DF Deutsche Forfait
Empiric Student Property Experian
Fairpoint Group FBD Holdings
Ferratum Oyj Gable Holdings
Gartmore Group GLI Finance
Hardy Underwriting Hargreaves Lansdown
Heartland New Zealand Helphire
Henderson Group Hiscox
HSBC Holdings ICAP
IFG Group IG Group
Impax Asset Management International Personal Finance
Is Yatirim Menkul Degerler John Laing Group
Jupiter Fund Management Lancashire Holdings
Liontrust Asset Management London Stock Exchange Group
MAN Group Market Tech Holdings
Mattioli Woods MCB Finance Group
Moneysupermarket.com MyBucks
NEOVIA Financial Novae Group
Numis Corporation Oakley Capital Investments Limited
Ocean Capital Omega Insurance Holdings
OTC Markets Group Palace Capital
Panmure Gordon Park Group
Powerhouse Ventures Prudential
Quayle Munro Holdings Randall & Quilter Investment Holdings
Rensburg Sheppards RSM Tenon
S&U Sanlam Securities UK
Schroders Secure Trust Bank
Share Shore Capital Group
St. James's Place Syndicate Asset Management
Target Healthcare REIT Tawa
The Law Debenture Corporation Tungsten Corporation
Warsaw Stock Exchange WH Ireland
WorldSpreads Group

Company news

Steve Cullen Buys 1491 Shares of Record Plc (REC) Stock

Tue, 03 Jan 2017 06:05:38 GMT

Record Plc sees AUME hit $56.6bn at end-2016

Fri, 20 Jan 2017 07:54:43 GMT

The Record Plc Declares Dividend of GBX 0.83 (REC)

Wed, 18 Jan 2017 02:14:52 GMT

The Steve Cullen Buys 1491 Shares of Record Plc (REC) Stock

Tue, 03 Jan 2017 07:18:45 GMT

The Bob Noyen Buys 90315 Shares of Record Plc (REC) Stock

Fri, 25 Nov 2016 10:30:00 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 14.2 12.7
2016A 21.1 7.2 7.0 2.54 14.8 14.1
2017E 21.7 7.4 7.2 2.62 14.3 14.0
2018E 23.1 8.2 8.1 2.91 12.9 13.0

Last updated on 13/12/2016

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

Record’s first half results, to end September, were in line with expectations with underlying revenue nearly matching H115, a period that had benefited from a high level of AUME within a bespoke tactical mandate. The underlying operating margin was held at 33% and pre-tax profits on the same basis were 2% lower at £3.6m. The board indicated its intention, subject to business conditions, to maintain the full year ordinary dividend of 1.65p and will consider paying out at least part of any current year earnings in excess of this dividend. AUME increased by 4% compared with end March to $55bn and client numbers were 61 vs 58. The shares remain modestly rated in the context of UK asset managers and sustained performance from the currency for return strategy and fund inflows are potential catalysts for a rerating.

Last updated on 21/12/2016

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
Windsor
SL4 1EP
United Kingdom
View website