Friday tips round-up: Hays, Man, FirstGroup

It was a better update from recruiter Hays than might have been expected given the continuing economic uncertainty here and in Europe.

Happily for investors, the recruiter's reach extends well beyond these shores to places where the economic climate is altogether sunnier. The prospective yield is now over 6% and it might even be worth buying a few given the way the overseas businesses are going. However, while economic uncertainty abounds, hold for now says the Independent.

Bus and train group First Group is a tricky call. Yesterday's first-quarter trading statement, published alongside the transport group's annual meeting, stressed current performance in line with management expectations and a continuing focus on controlling costs and increasing cash generation. On balance, First Group's cost-cutting and margin-boosting measures just about convince. With the stock down 10% over this year, there is room for a punt. Buy says the Independent.

Galliford Try adopted a glass-is-half-full approach to its full-year trading statement yesterday. The construction and housebuilding group said full-year pre-tax profits will be at the upper end of estimates, after a strengthening of house prices and its construction unit performing well. It looks cheap on a 2010 price to earnings ratio of 12.2 times but public spending cuts are the worry. Sell says the Independent.

Man suffered its seventh successive quarter of client withdrawals during the three months to the end of June and there is no firm evidence yet of a turnaround at the group, whose future has become increasingly dependent on its "black box" AHL managed futures fund. Buying Man gives investors indirect exposure to hedge fund strategies, profitable in boom times but less so when performance lags. Sit on the sidelines until there is more evidence of an AHL recovery says the Times.

Probability, the AIM-listed mobile gaming specialist, is one of those rare beasts: a company with an almost unique market position. So when tabloid rivals The Sun and the Daily Mirror both wanted to offer their readers "white label" mobile gambling, they both turned to Probability. The shares, up œp to 42œp, are trading on a forward multiple of at least 20, which is racy, even allowing for the potential upside. But with Michael Spencer, Joe Lewis and Trevor Hemmings all sitting on chunky stakes, they are worth holding says the Times.

Domino's Pizza's 10.5% rise in like-for-like growth in the first quarter is likely to have been matched or exceeded in the second. Although hot weather can often hit sales, as barbecues are stoked up, this has been more than offset by the World Cup and promotions. The shares, down œp to 399œp, are trading on about 25 times full-year earnings, and may suffer some profit-taking. Any weakness could be a buying opportunity says the Times.

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