By Chris Bailey | Tuesday 10 October 2023
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Pink Floyd (one of the better parts of music in the 1970s in my opinion) once observed that if you “get a good job with more pay and you're okay”. On that basis, recruitment sector names such as Robert Walters (RWA) should be laughing but - as I have already observed a few times this year so far - the stock is down 30% year-to-date, and anyone who purchased the shares a couple of years ago is down about 50%. And I know the company is currently offering over a 5% dividend yield, but you would have made better total returns since October 2018 holding cash in the lowest remunerative NatWest (NWG) account wacked by inflation. I read in today’s third quarter update from Robert Walters that its 13% year-on-year fall in gross profit is a “resilient performance”.
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