Share Name Share Symbol Market Type Share ISIN Share Description
Havelock Europa LSE:HVE London Ordinary Share GB0004149356 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 9.00p 8.75p 9.25p 9.00p 9.00p 9.00p 13,312.00 08:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Household Goods & Home Construction 73.1 -0.8 -3.0 - 3.44

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Date Time Title Posts
20/2/201712:53Havelock: Strong Growth from Booming School Spending5,214.00
18/8/201012:17Havelock Europa plc454.00
09/2/200315:54HAVELOCK EUROPA...A recovery stock on the move4.00

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Trade Time Trade Price Trade Size Trade Value Trade Type
20/02/2017 16:21:298.7550,0004,375.00O
20/02/2017 12:30:518.7510,000875.00O
20/02/2017 12:29:578.752,500218.75O
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Havelock Europa Daily Update: Havelock Europa is listed in the Household Goods & Home Construction sector of the London Stock Exchange with ticker HVE. The last closing price for Havelock Europa was 9p.
Havelock Europa has a 4 week average price of 9.54p and a 12 week average price of 9.32p.
The 1 year high share price is 14p while the 1 year low share price is currently 8.25p.
There are currently 38,218,393 shares in issue and the average daily traded volume is 76,019 shares. The market capitalisation of Havelock Europa is £3,439,655.37.
reallyrich: Hmm since our last tussle in September the share price is still stuck at about the same point so its doing well. And why last year in the trading update they stated the debt and this year they did not? I will leave you and never to continue your bromance. I really wish we could meet and I will explain things to you about companies like this one. But if I am proved wrong when the figures come out I will be the first to hold my hands up
cannyman1: Neverforget, your long post of 10th January whilst informative was yesterday's news. However, I understand the point you were making. Would it not have been a bit easier however to say that in your opinion, the current leadership are uniquely unqualified to do their jobs.....that would avoid arguments with other people on the forum and you might instead get some agreements from others. There is no doubt that change is required in Havelock from top to bottom if we are to get some value back on the share price and I hope the new Chairman will make that happen.
diku: neverforget...thanks for the if approved the new Chairman has a good percentage of the company given to him at the nominal share value of 10p....of course he pays for it but the point made is the current share price is below the 10p level is not a valid argument...& he has yet to perform!! about the shares are offered to him at say 15p?....last 5 years the shares have traded between 10p - why not base it on a mean price of 15p?...premium to the current price...and is there a lock in period so he cannot sell those shares until it reaches a certain limit in connection with company performance?....or can he flog the company at say 15p earning him 50% return....what about those investors who bought shares at say 30p?....they have a loss of 50%...
cannyman1: neverforget, I am not really sure what your point is. The terrible management under Prescott is the same management that is in place now. Kennedy was not any use then, and is certainly not any better now. Ritchie is out of his depth and is not a CEO in any case. The only noticeable difference is that David Farooqui has replaced Paul Davis and if the rumours are true on this forum, he hasn't made any contribution to Havelock at all since since his arrival around two years ago. If I could let you into a secret, Prescott is long gone. As your handle suggests, you clearly have a long memory, but I would suggest it's better to focus on the current crop. These guys have been in place now for eighteen months and the share price should have a lot more to show than it currently does.
neverforget: the share price is where it is as a direct result of terrible management under Prescott. how he got away with it for so long was simple he threw everyone else under the bus. until there came a time when there was nobody left to throw under then he was found out.
diku: then......what?....if you had anything concrete to contribute yourself the share price might just not be where it is today....with different opinions & points of view on this BB you might just learn a thing or two...respect...
goodoldays: STY are a forward looking company who keep their fingers on the industry pulse. The management are predominately from an interiors delivery background, most importantly they keep the management team lean to avoid large overheads. They are also not burdened with a large manufacturing overhead. HVE have never known if they are a contractor of manufacturer, hence the constant conflict between the two areas of business. A few days ago someone posted that this kind of comment was like " pub chat" that person should realise that the cause of the problems are Management/People driven, the result is the share price. Therefore I think these discussions are extreemely relavent. I am both; an Ex employee and a shareholder of many years. Havelock over the past few years have sold off all their assets which resulted in no significant improvement to the share price. It is my opinion that they now have to deliver or face extinction, time has run out.
reallyrich: we will see. anyway the market must think this a stonking buy as can be seen from the dramatic increase in share price, not!
neverforget: 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://
profdoc: I've been writing a report on Havelock. You may or may not find some of it interesting. Anyway, here is the introduction - comment/criticism/discussion welcomed(what have I missed?: Havelock has been through many bad years, resulting in its share falling from 160p in 2007 to 58p in 2010, to only 14.6p today. The majority of companies showing such a share price decline are suffering from financial distress – many will eventually fail, most will struggle along, under-performing the market for years (see a paper I wrote with Prof Rose Baker on Return Reversal, summarised in Newsletters dated 22 April to 6 May, However, a minority of these ‘loser’ shares start to recover. A typical portfolio of losers shows remarkable out-performance over a five-year period. This is attributed to overreaction based on the representativeness heuristic, characteristic of the generality of investors: simply put, share prices get pushed too low as they are stereotyped and investors abandon them. To improve the prospects of subsequent ‘loser’ out-performance even further, I select only those showing factors suggesting they are not in financial distress. As a starting point, Joseph Piotroski (2000) demonstrated the usefulness of a number of accounting variables to separate high distress firms from low distress ones. Havelock performs very well on these measures – I’ll post a Newsletter on this analysis. Even though the data-based Piotroski factors are valuable for initial screening, the most important elements are qualitative: 1.Prospects for the business should be satisfactory. In Havelock’s case I’m happy, but I know I’m taking a risk – explained in another Newsletter. 2.The managerial team should be both competent and people of integrity (particularly with respect to being shareholder-oriented). Havelock’s non-executive directors have taken the company through hard times and have admitted to errors in their selection of executive directors. The CEO and FD have recently been changed so we cannot judge them yet, but I have some faith in one NED in particular, Andrew Burgess, who is also the largest shareholder. He is so central to the success of the company that I’ll write about him in my next Newsletter. 3.Stability. This has two aspects, (a) financial stability - Havelock has no net debt and no real pension deficit to worry about, although it needs to get into profit to make me feel really comfortable (b) the operating business stability - Havelock scores reasonable well here (stable at a low level of performance), but is quite dependent on four major customers. My final factor is a back-up test allowing possible rescue of some value if the operating performance does not pick up: the market capitalisation should be less than the net tangible asset value. (NTAV is net assets with goodwill and other intangibles deducted). Havelock’s MCap is £5.4m, but NTAV is £6.2m, so it gets a tick there. Overall, as I’ll explain in the next few Newsletters, Havelock matches the criteria to get into my Return Reversal portfolio, so I bought some. After looking at over 400 companies, I found one at last!! Intriguingly enough Havelock almost gets into my Modified-PER portfolio too. Here is the earning history: 2005 Basic eps 12.3p Adj. eps 10.3 2006 10.8p 11.6p 2007 12.2p 13.4p 2008 13.5p 14.2p 2009 -10.7p -3.1p 2010 -16.3p -7.2p 2011 -11.6p -6.0p 2012 21.7p -0.8p 2013 0.8p 0.7p 2014 -13.9p 0.2p 10-year average 1.88p 3.33p Share Price divided by average Basic eps over 10 years = 14.5p/1.88p = 7.7 Share Price divided by average Adjusted eps over 10 years = 14.5p/3.33p = 4.4 These cyclically-adjusted PERs are significantly below the average for UK companies (around 13). I’ve already said that Havelock does well on the Piotroski recovery-from-financial-distress factors and the three qualitative factors, so this contributes to the Modified PER story. However, it does not quite make it because it sold its most respected and profitable business (Point of Sale division) in April 2012 for £12.9m. While this was probably a good move in order to eliminate the debt and allow concentration of the other businesses, it does distort the message from the 10-year cyclically-adjusted price-earnings ratio. In tomorrow’s Newsletter I’ll explain what Havelock does, and the significance of Andrew Burgess. Glen
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