CHANDLER MACLEOD GROUP LIMITED (CMG)



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General Information
Company Name: Chandler Macleod Group Limited
Stock Code: CMG
Website: www.chandlermacleod.com.au
GICS Sub-Industry: Diversified Commercial & Professional Services
Market Cap ($M): 235
Equiv. Shares (M): 470

Current Price Data+
Current Price Open High Low Last Close Volume Price Movement
 $ 0.500 $ 0.505 $ 0.510 $ 0.500 $ 0.505 1,740,932 $ -0.005  -0.990 %

Company Overview

Business Description:
Chandler Macleod Group Limited (CMG) is an HR outsourcing and recruitment companies focusing on the provision of human capital solutions across blue collar, white collar, executive and professional recruitment and contracting in Australia and Internationally.

Strategy Analysis:
CMG have focussed their client offering to deliver greater cross sell and to facilitate growth opportunities across their full breadth of services. They have consolidated to one brand and positioning, simplifying our message to market and leveraging the credibility, longevity and awareness of the Chandler Macleod brand. It is their intention to penetrate deeper into growth industry sectors such as mining and resources, aviation, health and infrastructure. Chandler Macleod Group reported NPAT down 32.4% to $5.5m for the half-year ended 31 December 2012. Revenues from ordinary activities were $802.03m, up 3.9% from the same period last year. Diluted EPS was 1.18 cents compared to 1.77 cents last year. Net operating cash flow was $10.27m compared to $9.63m last year. The interim dividend declared was 1.4 cents compared with 1.2 cents last year.


Financial Summary
Year to Jun NPAT EPS EPS chg (%) PER DPS Yield (%) Franking (%)
2014  F 21.5 6.1 15.1 8.2 3.4 6.8 --
2013  F 17.6 5.3 35.9 9.4 3.0 6.0 --
2012  A 17.5 3.9 39.3 9.7 2.8 7.5 100.0
Source: Aspect actuals / Thomson IBES estimates

Peer Comparison
EPS Growth (%) P/E (%) Dividend Yield (%)
Company Mkt Cap 2012 A 2013 F 2014 F 2012 A 2013 F 2014 F 2012 A 2013 F 2014 F
Brambles (BXB) $14,358 M 0.2302 0.1201 0.0840 22.4113 20.0087 18.4585 0.0282 0.0309 0.0332
Chandler Macleod Group (CMG) $237 M 0.3652 0.3844 0.1445 13.1169 9.4747 8.2787 0.0554 0.0594 0.0673
Downer EDI (DOW) $1,794 M -0.3684 0.1449 0.0799 9.7412 8.5080 7.8782 0.0000 0.0494 0.0617
Mineral Resources (MIN) $1,700 M 0.1078 0.0548 0.2469 9.5377 9.0423 7.2517 0.0503 0.0555 0.0656
McMillan Shakespeare (MMS) $1,227 M 0.2107 0.1166 0.1833 22.2267 19.9057 16.8216 0.0285 0.0313 0.0370

Market Comparison
Earnings P/E Ratio P/B Ratio P/E Growth P/S Ratio
CMG 0.53 9.68 1.40 0.37 0.15
Market 0.83 14.8 1.28 1.89 1.78
Sector 0.67 10.71 1.12 1.13 0.55

Directors
Name Position Start Date
Mr Gareth Young Alternate Director 31 January 2013
Mr Cameron Judson Chief Executive Officer,Managing Director 02 July 2012
Mr Richard A F England Non-Executive Chairman,Non-Executive Director 27 February 2008
Mr Jack J Cowin Non-Executive Director 28 February 2011
Mr Mark Howard Carnegie Non-Executive Director 06 February 2009
Mr Tim Martin Non-Executive Director 04 February 2013
Elizabeth Crouch Non-Executive Director 01 March 2011
Mr John Charles Plummer Non-Executive Director,Non-Executive Deputy Chairman 30 May 2005

Management
Name Position
Owen Wilson Chief Finance Officer,Company Secretary
Greg Coolahan Company Secretary
Morgan Sloper Joint Company Secretary

Substantial Shareholders
Holding Name
73,463,232 (15.74%) John Charles Plummer
57,000,000 (12.22%) Victor John Plummer
158,662,619 (34.01%) Lazard Carnegie Wylie

Calendar of Events
Date Event
19 February 2014 Report (Interim)
30 September 2013 Report (Annual)
14 August 2013 Report (Prelim)
© 2011 Morningstar, Inc. All rights reserved. The data and content contained herein are not guaranteed to be accurate, complete or timely. Neither Morningstar, nor its affiliates nor their content providers will have any liability for use or distribution of any of this information. To the extent that any of the content above constitutes advice, it is general advice that has been prepared by Morningstar Australasia Pty Ltd ABN: 95 090 665 544, AFSL: 240892 (a subsidiary of Morningstar, Inc.), without reference to your objectives, financial situation or needs. Before acting on any advice, you should consider the appropriateness of the advice and we recommend you obtain financial, legal and taxation advice before making any financial investment decision. If applicable investors should obtain the relevant product disclosure statement and consider it before making any decision to invest. Some material is copyright and published under licence from ASX Operations Pty Limited ACN 004 523 782 ("ASXO"). DISCLOSURE: Employees may have an interest in the securities discussed in this report. Please refer to our Financial Services Guide (FSG) for more information at www.morningstar.com.au/fsg.asp.

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