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.£59.2m
Last close26.75p
High / Low (52 weeks)29.5p / 22.1p
Stock market listingLN
Forecast net cash (£m)23.9
Forecast gearing ratio (%)N/A

Price performance

Relative *(3)2.6(16.5)

* % Relative to local index

Other companies in sector Show

Company news

Record Plc (REC) Insider Buys £224.37 in Stock

Wed, 28 Sep 2016 14:15:00 GMT

Record Plc (REC) Insider Steve Cullen Buys 831 Shares of Stock

Thu, 29 Sep 2016 05:39:55 GMT

Steve Cullen Buys 831 Shares of Record Plc (REC) Stock

Wed, 28 Sep 2016 14:15:00 GMT

CCI Focus on Shares of Record Plc (REC.L)

Thu, 27 Oct 2016 19:16:48 GMT

Ensco: Record Operational Utilization And Debt Buyback

Thu, 27 Oct 2016 16:20:06 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 10.1 9.0
2016A 21.1 7.2 7.0 2.54 10.5 10.1
2017E 21.7 7.4 7.2 2.62 10.2 10.0
2018E 23.1 8.2 8.1 2.91 9.2 9.2

Last updated on 25/10/2016

Latest research

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

Modest Q4 progress; FY14 estimates reaffirmed

Update | Financials | 24/04/2014

Investment summary

Record’s Q217 trading update was encouraging as it showed an increase in assets under management equivalents (AUME), a maintained client count and an indication that investors are taking an interest in a range of the company’s products following a period of heightened currency volatility. In this context, the prospective rating with an FY17e P/E of just over 10x and the yield of 6.2% (ex any special payment) seems very conservative.

Last updated on 25/10/2016

Industry outlook

EU legislation affecting Record's business is likely either to be retained or replicated in the negotiations over the UK's departure from the bloc. In the long term, currency volatility should support demand for currency management.

Last updated on 11/10/2016

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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