sharetrader
Page 1 of 106 123451151101 ... LastLast
Results 1 to 10 of 1058
  1. #1
    Reincarnated Panthera Snow Leopard's Avatar
    Join Date
    Jul 2004
    Location
    Private Universe
    Posts
    5,853

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

    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
    Last edited by Snow Leopard; 01-11-2020 at 12:04 PM. Reason: Company name change
    om mani peme hum

  2. #2
    Advanced Member
    Join Date
    Jun 2004
    Location
    Auckland, , New Zealand.
    Posts
    2,314

    Default

    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

  3. #3
    Advanced Member
    Join Date
    Jun 2004
    Location
    Auckland, , New Zealand.
    Posts
    2,314

    Default

    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

  4. #4
    Member
    Join Date
    Sep 2004
    Location
    Rakino Island, , New Zealand.
    Posts
    386

    Default

    The economy is slowing.
    This stock shines so bright that it \"Bling Blings\"

  5. #5
    Reincarnated Panthera Snow Leopard's Avatar
    Join Date
    Jul 2004
    Location
    Private Universe
    Posts
    5,853

    Default

    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%
    om mani peme hum

  6. #6
    Advanced Member
    Join Date
    Jun 2004
    Location
    Auckland, , New Zealand.
    Posts
    2,314

    Default

    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

  7. #7
    Reincarnated Panthera Snow Leopard's Avatar
    Join Date
    Jul 2004
    Location
    Private Universe
    Posts
    5,853

    Default

    Given that I started this thread spose I ought to come "out" and admit that I almost certainly will not be "in". I do not even intend to acquire a prospectus.

    om mani peme hum

  8. #8
    Banned
    Join Date
    Jul 2004
    Location
    , , .
    Posts
    23

    Default

    I've not heard of them, 21 locations they say but not in the Wellington phone book. Perhaps trading under another name?
    Doubt if it will get off the ground. At best another MPM.

  9. #9
    Muppet Placebo's Avatar
    Join Date
    Apr 2004
    Location
    Lower Hutt, , New Zealand.
    Posts
    435

    Default

    This is a growth industry. If you want proof just look at the number of copycats who have cropped up around the place. We have 3 or 4 in Wellington (Quinn Workforce is another). It is a successful business model.

    Yes it will be subject to economic conditions but as they don't actually "employ" the workers is this really a big risk? A downturn will merely cut into their overall revenue, same as any other volume-based business.

    I will not be purchasing, but I am impressed at the size and turnover of the company. Had no idea it was so big!
    Marriage isn't a word. It's a sentence

  10. #10
    Muppet Placebo's Avatar
    Join Date
    Apr 2004
    Location
    Lower Hutt, , New Zealand.
    Posts
    435

    Default

    SaintJohn there is a trick to reading phone books. You have to look under "Allied Work Force". Look on page 76, it's highlighted in red (3rd column, about an inch from the top).

    I think their catchphrase is "it's not just actors who have agents". Lately they have been appealing to students to sign up for extra money.
    Marriage isn't a word. It's a sentence

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •