Havelock Europa Share Discussion Threads

[darknightrises] 07/7/2016 20:59

More to follow I expect

[darknightrises] 07/7/2016 20:51

I expect there's more to follow ???

[honestjohn1] 06/7/2016 07:01

The director ? spends most of the day jogging at lunch, and organizing marathons at the weekend. The project director / delivery director / spends all day ordering Avon and booking skiing holidays. Thats why ERP system is late thats why the company is losing clients by the dozen. Total waste of resource and money.
Note try getting hold of a PM after Noon on a Friday impossible.

[cookpeter1958] 05/7/2016 16:06

"Havelock has been implementing something called an “Enterprise Resource Planning System”, i.e. a suite of software to aid in the efficient management of the company"
I thought a Director had been brought in, to deliver ERP, and a dedicated team set up. What must that be costing? Now looking to be a year late, how can this resource return to the Business after being out for almost 2 years? Surely they must be surplus to requirement, assuming it ever gets implemented? What a saving that could be.

[neverforget] 04/7/2016 12:58

What effect weak dollar? Good for Hve I would guess as lcc becomes more expensive and Hve can produce in Scotland

[neverforget] 04/7/2016 12:58

What effect weak dollar? Good for Hve I would guess as lcc becomes more expensive and Hve can produce in Scotland

[neverforget] 15/6/2016 22:19

anyone that thinks AB is positive should read this board. too many freeloaders still in thios company. compare and contrast sty with hve

[dlku] 15/6/2016 15:23

HAVELOCK EUROPA PLC (the "Company")

Notification of Interests

Havelock Europa PLC has been informed that Andrew Burgess today sold 100,000 shares of the Company at an average price of 13.08p as a result of which his residual holding is 6,904,785 shares, representing 17.92% of the issued share capital.




lot to dump

[neverforget] 15/6/2016 15:19

hxxp://hintsnewsnetwork.com/havelock-europa-plc-declines-a-lot-today-is-now-one-of-the-worst-performer/169068/

[amt] 15/6/2016 14:37

I am out. Cannot see anything positive here and far too high risk for me. Anyway made 10% so cannot complain.

[neverforget] 15/6/2016 13:55

down again. at least management will not be able to convert their share options. article below

Last month, I brought to readers’ attention the binary outcome facing investors at Havelock Europa (HVE), which must surely be worth multiples of the current share price if it can ever stage a successful turnaround. We have not had to wait long for further news. Last Friday saw the company’s AGM with the Chairman making the customary remarks on current trading. He reiterated the progress made in restructuring the business and the medium-term goal of diversifying and growing the customer base. Havelock has been implementing something called an “Enterprise Resource Planning System”, i.e. a suite of software to aid in the efficient management of the company. The AGM statement warns us that this is taking longer than originally planned to implement, although it doesn’t quantify any financial costs associated with the delay. Again, the dependence on second-half year orders is emphasised and the lack of visibility in retail/leisure. The Board “currently believes” that full-year performance will be in line with expectations, but investors are left in no doubt that the outcome is uncertain. The operational side of the equation remains mostly unchanged, then. But we have a few other matters going on off the pitch, to use a footballing analogy. Firstly, the Chairman is standing down after a six-year stint on the Board. This is perhaps not a surprise given the sweeping changes in recent years. It means there will be just one pre-2014 Board member remaining. The company has no dominant shareholder calling the shots. The largest shareholder, Andrew Burgess, was an outsider who built his stake up to 21% and joined the Board from 2013 to 2015. He has not expressed any displeasure with management but intriguingly has sold a few of his Havelock shares according to an announcement released this morning. His stake is now 18% and his view on the value of the company clearly matters. It will be a large overhang of shares if it turns out that he has lost faith – but we’ll have to wait and see if the shares continue to drip out. The share price has dipped to 11.875p and I would not recommend opening a new position at this time. Long-term shareholders could be forgiven for continuing to hang on for some evidence of a turnaround. - See more at: hxxp://www.shareprophets.com/views/21456/havelock-europa-latest-developments-with-agm-and-share-sale#sthash.NP4PuNae.dpuf

[honestjohn1] 14/6/2016 10:46

Havelock CEO needs to bite the bullet get ride of all the incompetent departmental directors.Who have been responsible for the loss of so many clients. It is ludicrous that a project director and account director keep there jobs after the Lloyds fiasco. Never mind the others clients lost. When you have a buying director changing roles and becoming the estimating director. It tells you everything about Havelock. Get rid and hire staff who understand the business. Only then will you see growth.

[neverforget] 14/6/2016 09:29

No drama.look back at prior notifications and yo see this is a 1% decline.probably sick of management not buying any shares wich is a fing disgrace and shows that they are just interested in free shares and big salary

[mikepompeyfan] 14/6/2016 07:31

100,000 out of nearly 7m shares is hardly 'losing interest'. Bit of a hysterical comment. Could just be partly using up capital gains allowance for the year.

[neverforget] 14/6/2016 07:09

no point in buying these for the next 2 years until that overhang is gone. shows that even AB has lost interest in this POS. well done management you seem to have even lost your biggest supporter. no chance of this evber rising until this sale of shares., typical of a company with awful management

[timnet] 13/6/2016 11:23

New Chairman.........
shorely not Huw?????????????//

[honestjohn1] 12/6/2016 13:05

Havelock Statement Friday.
(and expects its first-half performance for 2016 to be in line with its expectation, cautioning, however, that the business still has a "high dependency" on second-half orders.)
Is it in line ?
Have they secured second half orders ?
Suggesting the failure to deliver the ERP system is down to restructuring is ludicrous. This system is 9 months late. Its down to the total lack of Project Management at the highest level.
The last part of the statement will this again be a reward for failure.
Very poor

[mikepompeyfan] 10/6/2016 13:06

LONDON (Alliance News) - Havelock Europa PLC, the AIM-listed furniture and interiors company, on Friday said it is feeling the benefit after taking action in late 2015 to "restructure and right size" the business, and expects its first-half performance for 2016 to be in line with its expectation, cautioning, however, that the business still has a "high dependency" on second-half orders.
"We continue to work on simplifying the business and maximising the customer experience, both of which are key factors in helping us achieve the medium-term goal of diversifying our customer base and growing the business," Chairman David MacLellan said in a statement.
But the restructuring of the business has hit the development of the new Enterprise Resource Planning system, MacLellan said, which has taken longer than originally planned. The company implemented the first module of the system in May, and now expects to complete full implementation during the fourth quarter of 2016.
"Backed by the strong, largely public sector, order book the board expects first half performance for 2016 to remain in line with our expectations. However, the business continues to have a high dependency on second half orders and whilst the public sector is performing well, visibility within the retail and leisure sector is less clear," MacLellan said.
"This situation makes predictions for the second half of the year difficult but nevertheless the board currently believes, in the light of the actions taken and the strategy being pursued, that performance for the full year will also remain in line with our expectations," the chairman said.
Speaking at the company's annual meeting of shareholders, MacLellan said he has given notice of his intention to stand down as chairman during the year.
"Having been on the board of Havelock for six years and having been chairman for four of those years, during which time I have overseen a number of important developments including the appointment of a new CEO, a new FD and a refreshed senior management team, I feel that now is a good time for me to step down," MacLellan said.
"To this end, I have asked my colleagues under the direction of Richard Sweetman to commence the search for an external candidate to assume the role of chairman and I would hope that this can be concluded by the end of this year," he said.
Shares in Havelock were untraded on Friday.

[gargoyle2] 10/6/2016 08:26

AG at noon today. Hoping to get an update on trading. (I'm not going.)

[honestjohn1] 02/6/2016 13:54

Havelock have a history of rewarding failure Richard Lowery got paid 150k for six months work. After offering to resign for his failings. This historical practice still goes on. You can tell when bounces get paid, you just need to look in the carpark. At least Prescott told them to hide there cars at the back of the carpark.

[neverforget] 31/5/2016 14:18

got my pack in the post. how the company can justify that payment to Prescott for that performance is beyond me. anyway at least the pictures in the booklet are pretty. now if they could only do the same for the customers the world would be a much happier place.

[mikepompeyfan] 29/5/2016 12:05

GG any comment ?

[honestjohn1] 29/5/2016 11:13

All the talk of restructuring is in fact changing job titles. Departmental Directors on very large salaries not understanding the market. Not being accountable or responsible. The project director never even spoke to Lloyds until it was to late. Lloyds would not speak to the Havelock Lloyds account director.Then David Ritchie wonders why he lost the account. Its not just Lloyds, look at TSB, Tesco, Co-op, Virgin, M&S, RBS, and ask why these clients have been lost. Rewarding Failure goes on and on with in Havelock

[mikepompeyfan] 29/5/2016 08:42

Reward for failure !

ERIC Prescott, the former chief executive of Fife furniture and interiors business Havelock Europa, received £330,000 compensation for loss of office when he left the business last year, according to the company’s annual report.

Mr Prescott, 59, left the business with immediate effect on 30 March 2015 following an announcement two months’ earlier that he intended step down as chief executive during the course of the year.

The 2015 annual report shows Mr Prescott also received salary and fees of £57,000, and pension contributions of £32,000, taking his total remuneration for the year to £420,000 – more than 62 per cent higher than his total remuneration in 2014 of £259,000.

In April, Havelock Europa reported a £2.7 million pre-tax loss for 2015 after a “challenging” 2015 which saw the axing of 135 jobs in a significant restructuring, the loss of its biggest contract and an 11 per cent fall in revenues to £70.3 million.

Reflecting this performance, chairman David MacLellan announced at the time of the results that he would be deferring £25,000 a year of his £55,000 annual salary with effect from 1 April 2016. The other two non-executive directors, Alastair Kerr and Richard Sweetman, would also defer £5,000 of their £30,000 salaries “until such time as the company returns to profit.”

According to the 2014 annual report, Mr Prescott’s contract required six months’ notice if he tendered his resignation, or 12 months if the notice of termination was from the company.

A spokesman for the business said: “The appropriate contract was paid.”

Mr Prescott was appointed chief executive in September 2010 following the departure of Hew Balfour, who had been chief executive for 21 years.

The 2015 annual report also shows that David Ritchie, who succeeded Mr Prescott as chief executive in March 2015, was paid £146,000 in 2015, including £13,000 in pension contributions.