Heywood Williams Share Discussion Threads

[hvs] 02/11/2003 14:07

Chef,

Please dont worry about me.

I am ,loving the comments though.

[timbo003] 01/11/2003 22:23

Chef

Very good call, I'm impressed, I'm very glad you posted your reservations earlier up on his thread, this one didn't ever quite smell right to me and your scepticism probably helped me to avoid, I will probably have a punt a some stage however, not for quite a while yet though, profit warnings invariably come in multiples.

[hvs] 01/11/2003 22:04

I love these barinless idiots.

[easymoney03] 01/11/2003 19:18

its curtains for this dog more shafted shareholders sorry but 20p is on the cards come monday could even be suspended pending a full financial enquiry.

[mitzis] 01/11/2003 13:18

In possible breach of banking covenants...

[timbo003] 31/10/2003 19:12

I'm taking a keen interest in this one now, I agree with the majority of the recent posters, these are likely to go lower before they go higher, however, I suspect they will overshoot downwards at some stage, not sure at what level that will be (yet)

[barnetpeter] 31/10/2003 18:22

Heywood Williams goes from bad to worse


Second half to be worse than the first, final dividend may be withdrawn
300 jobs to go, write down of excess stock and bad debt
Supply chain difficulties in Plastic division mean year-end banking covenants may be breached
Centrallock project written-off, DIY window and door business terminated, composite door factory to be closed, e-procurement service to be written-off

More agony today for shareholders in building materials and plastic products supplier Heywood Williams. The shares have crashed 38 per cent to 51p after the company issued its fourth profit warning in 12 months. The final dividend will be cut or dropped (the shares were offering a yield of 11 per cent) and, to top it all off, the company is in discussions with its banks regarding its covenants. Chairman Hamish Bryce has resigned, following chief executive Ian Stewart who quit in August.

Heywood says that results for the second half will be no better than the £1.7m pre-tax loss reported in the first half. That's because of a weak UK door, window and conservatory market and low returns from the US PVC pipe market. On top of that, several of the company's own initiatives, including a DIY window and door service and an e-procurement service, are failing to perform and there are supply chain problems in the plastic systems business. The group will take a £25m charge this year for stock write downs, impairment charges and the closure of underperforming operations.

This morning's share price reaction is understandable given the dismal trading news, probably dividend cut and admission so many subsidiaries are worthless or need costly restructuring. However, there may be an element of "kitchen-sinking" here: getting all of the bad news out of the way so that a new chief executive can come in with a clean slate. But that's not a reason to dive into the shares: the company is in discussions with its banks, so there's scope for more bad news, and even if this is a bad as it gets the recovery will be long and hard. Avoid.

[leewink] 31/10/2003 18:03

zzzzzzzzzzzzzzz, YEAH RIGHTO, , this will continue like after 4pm today, no probs

lee

[easymoney03] 31/10/2003 17:36

this will trade at 20p next week easy money folks...........

[vision88] 31/10/2003 16:34

a very nice little rise in the last half hour, all set for round 2 repeat monday.

[sirshagalot] 31/10/2003 16:11

yes i bet fish fingers will be cheap in shops lolol,( catch a falling knife)
and the type of investors that are in these will get a nasty shock in papers over weekend!.
mon will be a blood bath! of red! with a few online buyers taking a chance

[pictureframe] 31/10/2003 16:10

there will be more selling in the last 20 mins as the day traders sell off, guess they have been burned badly on this.

[johnwalton] 31/10/2003 16:05

Hi folks
just popped in to look at the price
find it hard to believe that people are still buying this stock
learn from my experience get out before it drops further
read the interim statement 3.9.03{divi will be paid other than in unforseen
circumstances}
It has only taken 6 weeks for them to realise that they can not afford
to pay divi.

[vision88] 31/10/2003 15:57

If this share gets any more bad news the the buys will trebble lol

[chef] 31/10/2003 15:45

Well hvs looks like I was proved right with this dog. Should have shorted at 82p and been a grand up already. Going lower though

[sirshagalot] 31/10/2003 15:45

spot on pict i will wait!!! i normally do well on bottoms give or take a penny

[pictureframe] 31/10/2003 15:43

You have to look at the fact one.

1) No CEO , who is going to impliment changes to aid recovery ?
2) 1.5 million loss last results
3) 1.5 million loos these results
4) £25 million spend 2004/2005 to stop the ship leaking
5) Heavy Debt
6) How are they going to pay it back with no profits ?


Why Buy ???

My view is 25p only on the chance of a takeover

[6million dollarman] 31/10/2003 15:37

No Brakes !

[sirshagalot] 31/10/2003 15:30

at what value would u put at these? and what will they do to sort it out?
time for the rats to abandon ship!!!!!!!!! articles on 3i are good.

[pictureframe] 31/10/2003 15:19

people getting out at any cost

[sirshagalot] 31/10/2003 14:31

well the company is have a rough time of it.
but can they stop the rott in plastic windows? lol.
for those who got out well done better to get out now than later!.
things looking grim for h2 if as bad as h1 results,no dividend is a good move
cos now they must really do somthing when taking that away.
15p a share is peanuts @130p ave a share anyhow.

[vision88] 31/10/2003 13:33

the graph is for-boding! The scafold and staircase graph

[barnetpeter] 31/10/2003 13:30

Phew! Sold these at 142 ex dividend after the last results.

[pictureframe] 31/10/2003 13:11

still falling away, still people buy ! Crazy