ShareProphets

The one stop source for breaking news, expert analysis, and podcasts on fast-moving AIM and LSE listed shares


Join ShareProphets at less than 2p per article

> All the big AIM fraud exposés

> 300 articles and podcasts a month

> Hot share tips

> Original investigations by our experienced team

> No ads, no click-bait, no auto-play videos

Find out more

Interquest - management issues sorted: buy

By Tom Winnifrith | Sunday 22 November 2015


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


Following the summer resignations of its CEO and CFO, we maintained faith in technology specialist recruitment group InterQuest (ITQ). It has now followed a recent announcement of an appointment of a new CEO, with news that it has also reached agreement with a new CFO.

The company has announced that David Bygrave will assume the CFO role at the start of December having most recently been the CFO of financial technology group Caplin from 2010 until its sale earlier this year.

InterQuest’s experienced founder, major shareholder and Chairman Gary Ashworth added that Bygrave’s “experience combines the entrepreneurial skills learned from working with private equity backed businesses with the rigour of global businesses having qualified as a chartered accountant and spent nine years with PwC” and that “we are delighted that we have now managed to secure our first choice candidates for both the CEO and CFO roles”.

This follows the news earlier this month that Chris Eldridge is to become CEO, when the company also updated that “trading has continued to be strong and in line with management expectations” and us noting its interim results looking to put it on course for full-year earnings per share of 11p+ (a pre-tax profit of more than £5 million, 2014 earnings per share: 9.6p) and a further fall in net debt.

At a current 85p, the shares are little changed from that  last update and we continue to consider the rating much too harsh and the shares a value buy.

This article first appeared  on the Nifty Fifty website run by Tom Winnifrith, Steve Moore and Lucian Miers - sorry paying customers come first . To read Lucian's next shorting idea next week and to catch the next value investment share tip from Tom & Steve out on November 30 click HERE


Filed under:


Never miss a story.




This area of the ShareProphets.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ShareProphets.com. ShareProphets.com does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ShareProphets.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ShareProphets.com and is not intended to be relied upon by users in making (or refraining from making) any investment decisions.


More on ITQ


Comments

1 comments


  1. John Spenceley

    LONDON (Alliance News) – Recruiter InterQuest Group PLC on Thursday said it has appointed David Bygrave as its new chief financial officer.

    Bygrave is the former chief financial officer of Caplin Group, the financial services technology company. He will take up the role on December 1.

    His appointment follows Chris Eldridge being appointed as InterQuest’s new chief executive. He will take up the role in May 2016.”

    It will take 90 days typically for any new exec to bed in- any changes will take 6 months and have a 70-80% change of not delivering (Standish).

    This makes it a long term before significant impact can be judged.

    This whole loss of confidence started when the company was put up for sale. Is the Major stakeholder looking to exit. Loss of senior execs didn’t help.

    Whole thing looks unstable no matter how good the business model story looks.

    The bet is based on the story which has own uncertainties let alone Osbourne’s Nov 25th possible major disruption to the IT contract market.


Enter your comment below. Fields marked * are required. You must preview your comment first before finally posting.


Site by Everywhen