PBA - Peoplebank Australia

[Garpal Gumnut]

Does anyone know why Peoplebank tanked yesterday and recovered somewhat today on large volume. Its been on a watchlist of mine for the past few weeks but I know little about this company. I saw it mentioned in an SMH or Age article recently. Garpal

 

[Kauri]

Re: PBA Peoplebank

Re: Peoplebank Australia Limited’s announcement 30 January 2007

The Continuous Disclosure announcement of 30 January 2007 generated considerable investor interest, but apparent uncertainty in the market about Peoplebank’s continuing growth prospects. Your Directors wish to be sure there is no misunderstanding as a consequence.

As advised, the reviewed interim financial statements should be ready for release in mid February. The primary contracting business grew approximately 15% in the 6 months to 31 December 2006 with a very high quality customer profile. Sales in the higher margin permanent placement business were behind expectations. The combined NPAT as a result is expected to be about $1.85 million, 5% less than comparative 31 December 2005. It should be noted that the comparative period included “record” permanent placements.

Projections are for a stronger second half of the fiscal year. Director forecasts and market conditions indicate full year profit results will be ahead of last year.

Peoplebank has a strong balance sheet, and anticipates no changes to its dividend policies.

Its expansion strategy through earnings accretive M & A has been thoroughly reviewed and reaffirmed. Substantial funding is readily available. Peoplebank considers itself very well positioned within its industry and is actively pursuing opportunities. The market will be kept informed as and when potential transactions are appropriately advanced.

The Directors confidently consider Peoplebank to be a growth stock and are committed to delivering quality earnings to shareholders.

 

[marklar]

but I know little about this company.

They're one of the many, many recruitment companies that are appalling at doing their job.

The recruitment companies are affectionately referred to by us in the industry as "pimps" that act as an intermediary between business & contract workers (we're called "hos" naturally) to match people to jobs. In reality all they seem to do is push out a job description to the various websites like seek.com.au and ignore the responses from people like me that apply.

I'm currently looking for work at the moment so I'm dealing with pimps that:
- ignore me completely
- call me about an application I put in more than a month ago
- call me in the middle of a meeting ("no, I can't talk right now, can you please call me back in an hour?", "sure") and never call again
- spam me with the same email about the same job every week for 3 months

Of the *runs away to count* 137 jobs I've contacted various pimps about in the last few years, Peoplebank have had 11 emails from me and have never returned one phonecall!

m.