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H.C Slingsby Share Discussion Threads
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|Interesting share stake disclosed in this one.|
|Reading between the lines of today's rns things sound VERY bad. The fact that they have to state still cash positive imolies to me that they have burnt though a lot of the £2.4 million advised by Refs as being on the 07 balance sheet.
e&oe. DYOR etc. any other views or comments.|
|Market cap very close to pension deficit - Yet another company working for the benefit of the pensioneers.
At 31 December 2008, the net deficit on the defined benefit pension scheme had increased by £2.819m to £5.687m (2007: £2.868m), due mainly to the combined effect of a reduction in the value of the scheme's assets and an increase in the assumption relating to average life expectancy which increased the liabilities
Also very interesting that 6.495% of the shares have been traded today at 685p. Someone deciding out bail out ? Awaiting a RNS.
0 A9001QKELR 685.0 66495 O 650.0 720.0 10:36:50 66,495|
|Another DB pension scheme closed...|
|Move to AIM announced today along with the final results.
The company seems to be making progress but warns there might be additional costs due to relocation and introduction of a new business system.
Might try and pick a few up if the AIM listing throws out a few sales.
|I had thought that it was probably too big a position to sell easily Valhamos but what I've sold so far has been lapped up. I'm half-way through selling.|
|Out of these now. Forthcoming results are going to have to be pretty amazing to justify current price. They may well be, but I prefer to deal with historic "value" numbers rather hopeful guesswork with these sort of companies where there isn't a lot of newsflow.
JakNife, from your comment in August presumably you're out completely as well?|
Price has increased by £3 (approx 50%) since results. I never did get chance to buy anymore (I was expecting a pull back after the initial excitement but it just kept on going up). I agree it's looking a bit pricey at the moment; a lot of expected growth this year is in the price, but the question is how much? Based on 48p for H2 2003, they should do 100p eps for 2004, but I can't make a case for anymore than that at the moment. Its initial attraction was as a value stock; as more of a 'growth' stock I'd want more information to go on than you ususlly get with this sort of company.
Having said all that I'm still holding for the moment. Generally I am keenly looking forward to how the market reacts to the approaching reporting season. If it starts off badly I may rethink; Slingsby report the end of September|
Slingsby's beginning to start to look expensive of late, the PT/BV has dropped, and the yield is looking tight as well. I've sold some of late but am thinking about selling the rest. How do you feel about them?
|The 'major shareholdings' are mainly the family plus there's a couple of value investors in there as well.|
|What are the 'major shareholdings' in this one?|
joey de noze
|Agincourt - You're as loquacious as Freddy in post2 ! :)
JakNife - I know what you mean and it is also unusual in a family run business but there seems to be some reality behind it. For instance their web site is well designed and hasn't cost the earth to implement.|
|If I could get find more dull ones like Slingsby then I'd be more than happy. Have to say though that the Director Speak seems a little too full of buzzwords. Otherwise numbers look great.|
|Impressive results considering weak 1st half. Good to see e-commerce continues to develop as well as the new Irish operation. I regret not topping up a few weeks ago and may still do so shortly. The share price seems to go for months without movement but if I had sold today I would have had over 30% gain after costs in little over one year - not bad for a stock many would consider too dull.|
|finals released this afternoon:
|meaning = Lol in post no. 4 on LTS (results tomorrow by the way) thread ?? http://www.advfn.com/cmn/fbb/thread.php3?id=912249
at any rate Freddy this is not one for the muppets :)|
|Results available here:
|H.C. Slingsby plc.
This £18m T/O company's principal activity is the supply and manufacture of commercial and industrial equipment covering materials handling, storage, access, safety, security, packing, and dispatch, cleaning, waste, food service and office fixtures. The manufacturing division produces a variety of products encompassing handling, storage, and access equipment and many purpose built items.
Hardly sounds an exciting story does it ? But the P/E is 6.85 and dividend yield is 5.5% which has to be good value in anybody's books and dividends have doubled over last 8 years (average increase 9% pa) This with the doubling of the share price gives a total return of 15% pa average.
See the earning & dividend history at http://profiles.wisi.com/profiles/scripts/page2.asp?cusip=C826US640
It is trading at book value (£5m market cap and no debt). It was established 120 years ago, and has been a public company since 1961; several of the Slingsby family are still on the board. However if you look a bit closer the impression is rather different from that of your typical small long established family run company. Although little newsflow the company does seems to be developing the business and successfully investing in its marketing and information systems.
It recently added ecommerce (see website http://www.slingsby.com ). Prior to that they have invested in CRM (Customer Relationship Management) systems and they are reaping the benefit of more cost effective marketing and improved service levels (see http://www.ieg.co.uk/crm/case_studies.asp)
For 6 months to June 2002, profits were slightly down because of lower sales in 1st quarter, but by the time interims were announced orders levels had recovered and were approaching the previous year's cumulatives.
Also recent director buying - the chairman increased his holding by 50% (albeit they were shares the company pension fund were forced to sell because it had reached the 5% of scheme funds limit). Closely held shares 22%
There is a problem with the large spread when buying the shares, but I don't think it should put long term investors off.
Results due end of April for year to December 2002.
|Have you actually tried to buy? Every purchae I have made over the last year or so has been at less than the mid price.|
|When I first invested in this share the spread was 20p. For a long time now it has been 80-100p which is far too much to consider investing further in this share as it means an instant 20% loss on investment.|
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