£11m market cap
127.5p last close
SG Recruitment (previously Healthperm Resourcing) is a healthcare recruitment business, established to address the significant shortfalls in healthcare professionals in the UK, Ireland and the Middle East. It supplies permanent employees, sourced mainly from the Philippines.
Investment summary
Healthperm’s H118 results showed strong revenue growth of 188% and a 281% rise in gross profit. Revenue was boosted by a 188% rise in the number of candidates deployed and gross profit has benefited from an improved mix. The company remains loss making as its ramp-up phase continues but the outlook is positive, supported by a good run of contract wins and entry into new markets. We have maintained our estimates and valuation.
Y/E Dec |
Revenue (£m) |
EBITDA (£m) |
PBT (£m) |
EPS (p) |
P/E (x) |
P/CF (x) |
|---|---|---|---|---|---|---|
| 2016A | 0.0 | (1.7) | (1.8) | (20.8) | N/A | N/A |
| 2017A | 0.2 | (1.7) | (1.9) | (23.9) | N/A | N/A |
| 2018E | 0.9 | (1.8) | (2.3) | (26.3) | N/A | N/A |
| 2019E | 2.8 | (0.1) | (0.6) | (7.3) | N/A | N/A |
| Last updated on 11/12/2018 | ||||||
Sector |
|---|
| Industrials |
Share price graph
Balance sheet |
|
|---|---|
| Forecast net debt (£m) | N/A |
| Forecast gearing ratio (%) | N/A |
Price performance
% |
1m |
3m |
12m |
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
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| *% relative to local index | |||||||||||||||
Key management |
|
|---|---|
| Jonathan Sumner | FD |
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