Record

TICKER: REC     EXCHANGE:

Record Currency Management is a long established, independent currency manager whose clients are largely institutions, including pension funds, charities, foundations, endowments, as well as corporate clients

LATEST REPORTS

 
Shares geared to growth
Published: Nov 26 2012

Record Currency Management is a long established, independent currency manager whose clients are largely institutions, as well as corporate clients
First half pre-tax profits fell as expected to GBP 2.7m, but total assets managed increased by 5% to USD 32.5bn
Record's profits and its shares are positively geared to any upturn in business: timing is hard to predict but the scale of market, particularly in the US, means that winning extra $bns to manage is quite feasible, with material implications for the share price
In the meantime, investors can get a reasonably safe 6% yield, given the cash on balance sheet and our view that profitability has now bottomed out and is expected to recover

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