AGL - Accordant Group. was previously AWF Madison, Allied...

[Snow Leopard]

According to this little NZHerald article propectus will be issued Thursday.
I presume that this company does well in most phases of the economic cycle.
Boom times companies need all the hands they can get.
Bust times casual labour is easier to get rid off.
etc etc.

May have some merit

[duncan macgregor]

PAPERTIGER, I have used this company over a period of a few years so will let you know from a business perspective warts and all how i was treated. I have hired labourers and carpenters in various building projects as required when required. I found the company honest punctual and easy to deal with. The quality of labour when treated right give me good service. If i require labour to suppliment i have no hesitation in calling them. That is a very honest opinion i have no doubt that they employ the occasional rat bag. As far as listing and buying shares well its up to you. macdunk

[duncan macgregor]

BONGO, I would not be interested, even although as i stated i found it to be an honest company, easy to deal with that supplied a good service. They have nothing of substance to sell if it goes bad. Why list?. Why not expand without listing?. It costs very little to open a new office, and hire out casual labour. What is to stop you or me renting an office and doing the same. It looks like someone wants to take my money, and bugger off leaving me with all the risk.
The labourers and other trade workers mostly have their own transport, the only expence being an office, and a van to take the others that dont have transport to the workplace. To me that risk is definately not on. macdunk

[Bling_Bling]

The economy is slowing.

[Snow Leopard]

For those that are interested

[quote]quote:
NZXR
09/06/2005
GENERAL

REL: 1130 HRS New Zealand Exchange Limited

GENERAL: NZXR: Allied Work Force IPO to raise $11.4 million

Allied Work Force IPO to raise $11.4 million

Specialist labour hire firm Allied Work Force Group Limited today announced
that it plans to list on the NZSX and raise $11.4 million in an initial
public offering of ordinary shares.

The share offer opens on June 13 and the company expects that its shares will
be listed on July 6. ABN AMRO Craigs are lead managers of the offer.

Founded 17 years ago by its managing director and major shareholder Simon
Hull, Allied operates nationally and is New Zealand's largest specialist blue
collar labour hire company. It provides on-demand labour across an industrial
spectrum that includes firms operating in the distribution, manufacturing,
processing, infrastructure and construction industries.

Simon Hull says the company has a 'crew' of around 8000 skilled and
semi-skilled workers who are available to be placed in some 6000 client
businesses.

In the year to March 31, 2006, the company is projecting a net profit after
tax (pre goodwill amortisation) of $3.1 million on revenue of $74.2m. Based
on the offer price of $1.50 per share the company will list with a market
capitalisation of $39.2 million.

"The business has grown on the back of demand for more flexible labour
arrangements," says Simon Hull.

"We believe we are now one of the largest employers in the country in terms
of the number of IRD returns we file each year. This year we expect to supply
4.4 million hours of work to our crew and our customers."

"We make it easy for businesses to use casual labour, which means that they
can get the necessary work done without incurring the long-term costs
associated with having a permanent labour force.

"For many companies we open the door to a more cost-effective business model
that allows them to cope with seasonal trends, special projects and overflow
work."

He says the on-hire business model also provides benefits to members of the
Allied crew, in that as well as enjoying attractive wage rates and
conditions, they get to handle a variety of work and to develop a range of
different skills.

ACC information suggests that, based on the wages paid to on-hire workers,
the New Zealand market has grown by 56% in the four years to 2004.

The company's board is made up Simon Hull, Allied's chief executive, Greg
Webster, and the independent directors Ted van Arkel and chairman Ross
Keenan.

Mr Keenan says Allied is a hands-on, can-do sort of business that has
expanded rapidly in the past few years through organic growth and more
recently by acquisition.

"We believe that growth is far from over yet and part of the reason for
listing is to position the company for further acquisitions."

Mr Keenan says that after the IPO Simon Hull will retain a 66.8% stake in the
company, and will continue to lead the business through its next phase of
development.

"At this stage he is only selling down to the extent required to meet the
spread requirements of the NZX and to provide some liquidity in the market,"
he says.

Allied Work Force is projecting an annualised gross dividend yield of 9.48%
based on a fully imputed net dividend of 9.5c per share for the financial
year ending 31 March, 2006. The company expects to pay dividends of 70% to
80% of net profit after tax, subject to prudent future investment
requirements.

Allied has 90 full time staff and operates from 21 locations around New
Zealand in addition to the 'crew' in its 8000 strong labour pool.

The company uses its own software and proprietary systems for managing
on-hire labour and its rate of successfully placing 'crew' into available
roles is approximately 98%.

Allied estimates that the New Zealand on-hire labour market is made up of
around 15,000 workers, or some 0.7%

[winner69]

[QUOTE=Snow Leopard;58020]For those that are interested

quote:
NZXR
09/06/2005
GENERAL

REL: 1130 HRS New Zealand Exchange Limited

GENERAL: NZXR: Allied Work Force IPO to raise $11.4 million

Allied Work Force IPO to raise $11.4 million

Specialist labour hire firm Allied Work Force Group Limited today announced
that it plans to list on the NZSX and raise $11.4 million in an initial
public offering of ordinary shares.

The share offer opens on June 13 and the company expects that its shares will
be listed on July 6. ABN AMRO Craigs are lead managers of the offer.

Founded 17 years ago by its managing director and major shareholder Simon
Hull, Allied operates nationally and is New Zealand's largest specialist blue
collar labour hire company. It provides on-demand labour across an industrial
spectrum that includes firms operating in the distribution, manufacturing,
processing, infrastructure and construction industries.

Simon Hull says the company has a 'crew' of around 8000 skilled and
semi-skilled workers who are available to be placed in some 6000 client
businesses.

In the year to March 31, 2006, the company is projecting a net profit after
tax (pre goodwill amortisation) of $3.1 million on revenue of $74.2m. Based
on the offer price of $1.50 per share the company will list with a market
capitalisation of $39.2 million.

"The business has grown on the back of demand for more flexible labour
arrangements," says Simon Hull.

"We believe we are now one of the largest employers in the country in terms
of the number of IRD returns we file each year. This year we expect to supply
4.4 million hours of work to our crew and our customers."

"We make it easy for businesses to use casual labour, which means that they
can get the necessary work done without incurring the long-term costs
associated with having a permanent labour force.

"For many companies we open the door to a more cost-effective business model
that allows them to cope with seasonal trends, special projects and overflow
work."

He says the on-hire business model also provides benefits to members of the
Allied crew, in that as well as enjoying attractive wage rates and
conditions, they get to handle a variety of work and to develop a range of
different skills.

ACC information suggests that, based on the wages paid to on-hire workers,
the New Zealand market has grown by 56% in the four years to 2004.

The company's board is made up Simon Hull, Allied's chief executive, Greg
Webster, and the independent directors Ted van Arkel and chairman Ross
Keenan.

Mr Keenan says Allied is a hands-on, can-do sort of business that has
expanded rapidly in the past few years through organic growth and more
recently by acquisition.

"We believe that growth is far from over yet and part of the reason for
listing is to position the company for further acquisitions."

Mr Keenan says that after the IPO Simon Hull will retain a 66.8% stake in the
company, and will continue to lead the business through its next phase of
development.

"At this stage he is only selling down to the extent required to meet the
spread requirements of the NZX and to provide some liquidity in the market,"
he says.

Allied Work Force is projecting an annualised gross dividend yield of 9.48%
based on a fully imputed net dividend of 9.5c per share for the financial
year ending 31 March, 2006. The company expects to pay dividends of 70% to
80% of net profit after tax, subject to prudent future investment
requirements.

Allied has 90 full time staff and operates from 21 locations around New
Zealand in addition to the 'crew' in its 8000 strong labour pool.

The company uses its own software and proprietary systems for managing
on-hire labour and its rate of successfully placing 'crew' into available
roles is approximately 98%.

Allied estimates that the New Zealand on-hire labour market is made up of
around 15,000 workers, or some 0.7%

Back in 2005 that was

Snowie didn’t join in the fun

IPO price was $1.50 …..went to $1.52 after the open but closed day 1=at the $1.50

Today price is $0.76

Has it ever been lower?

Been some journey eh

[nztx]

For those that are interested



Back in 2005 that was

Snowie didn’t join in the fun

IPO price was $1.50 …..went to $1.52 after the open but closed day 1=at the $1.50

Today price is $0.76

Has it ever been lower?

Been some journey eh

Closing High Bid 0.70 Lowest Offer 0.71

Last sale 0.76

[winner69]

Goog grief …I think I saw 69 cents on the ticker down on the wharf

[nztx]

Goog grief …I think I saw 69 cents on the ticker down on the wharf

0.60 Buy Offer ; 0.68 Sell - but on the usually minimal volumes with this one

[duncan macgregor]

From a straight practical point of view i would not buy in. The only thing that this company supplies is a service. They rent an office hire casual labour and take the cut off the top. All the workers supply their own tools of trade work boots etc. It sounds like someone wants to sell the business to the punters. Seem to remember things like this that went on in the past i will definately not be in. macdunk