Welcome to EQUITY DEVELOPMENT

The UK's longest established regulated provider of sponsored equity research.

We launched EQUITY DEVELOPMENT in 1997 becoming the first ever  regulated provider of Sponsored Equity Research in the UK.

Our research teams are made up of expert analysts with deep understanding & experience in their sectors.  Our research is distributed to all relevant investment classes & commentators. (at no cost to the reader).

We have made our name by specialising in those companies who are not receiving the attention that they merit, using detailed commentary, appropriate valuation metrics and regular publications to help eradicate undervaluation in the medium term.

 

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Healthcare Locums

Healthcare Locums (HLO) is an established provider of specialist staff to the health and social care sectors.

Upgraded forecasts, unique commercial momentum from healthcare

Although the shares have slipped about 15% from an all-time high surrounding September’s interim results, the resilience in a recruitment sector that has plunged amid profit warnings shows the market beginning to recognise HCL’s intrinsic value – based on defensive and growth qualities.

Publication Date:
December 4 2008

Excellent outlook

30% organic growth in gross profit reported

Operational gearing on higher revenues

Upgrades to 2009 forecasts leave shares looking very cheap at under 7x FPER

Publication Date:
October 1 2008

Trading update affirms a genuine special situation among challenged recruitment shares

28% growth in net fee income over three months

All 3 UK divisions experiencing increasing demand

Forecasts upgraded

Publication Date:
July 16 2008

Value Delivery Gathers Pace

Results show execution of strategy on track

With investments made focus now on cash generation and shareholder returns

Market leader in 3 core markets that are both  defensive and growing

Positive trading start in 2008, and further director share purchases

Fair value / share seen conservatively at 150p as EPS and PER improve

Publication Date:
April 25 2008

Trading Update

All divisions experiencing strong demand

Directors increased stake

2008 PE of only 6.5 times

Publication Date:
January 30 2008

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