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“AIM quoted recruitment consultancy working across UK and Asia, providing recruitment services for the web, interactive, digital media, IT and business change sectors”, Nakama (NAK) has announced results for its half-year ended 30th September 2019 commencing emphasising “Progress made towards gaining financial stability and winning new business by leveraging client relationships”. The shares are currently at 0.85p in response – approaching 30% lower!...
I previously wrote on recruitment group Nakama (NAK) a couple of years ago – the shares then approaching 27% lower, heading towards 2p, on a trading update which featured management-speak shite & is shite!. The shares are today currently heading lower towards 1p on the back of a Corporate update and director resignation…
Taking a slight change of tack, today I’ll provide a brief overview of a company whose results are not due to be published until next week. Nakama, the international recruitment business, has witnessed a punishing sell-off which looks like it may have sent it into “value” territory.
Apparently the first things we need to know in a “Trading Update” from recruitment group Nakama (NAK) include that “as a result of a holistic review of the business” following the September appointment of CEO Rob Sheffield, “the group has been through significant change…(including) changes to the infrastructure of the organisation”. At the end of the paragraph we are then told that “the board believes that, in order to grow the business, the restructuring and the investment are crucial to the future of the group. The effect of this is reduced profitability during the period”. Hmmm…
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