24 November 2015
By Maynard Paton
Quick update on Record (REC).
Event: Interim results published 24 November
Summary: A lacklustre set of results in which the board remained optimistic of further progress — but where new clients were still nowhere to be seen. This statement was particularly irritating due to higher-than-expected staff costs and commentary about an ‘increased’ dividend. However, at least my earnings guess has not changed. One day I trust REC’s currency strategies will have their day in the sun, but until then I must content myself with a useful 5%-plus yield and dreams of what could be. I continue to hold.