Hml Share Discussion Threads

[shanklin] 16/11/2015 08:34

Edit: Make that a P/E of 9 or 10 after today's share price fall. IMHO.

[shanklin] 16/11/2015 08:23

Its unfortunate that HMLH's historic results are presented post-amortisation whilst the forecasts are shown pre-amortisation, implying massive EPS growth.

Despite the downbeat presentation, IMHO HMLH looks on track to achieve forecast growth and pre-amortisation is on a P/E of 10 or 11, which hardly seems unreasonable.

All IMHO.

[davidosh] 06/10/2015 18:42

There was no RNS required but HML have picked up this business recently.

hxxp://www.flat-living.co.uk/advice/304-dennis-brooke-qualitas-residential

It was just under £150k of revenues per year but clearly well run and respected

[rivaldo] 24/9/2015 09:38

HMLH are featured in today's Shares Magazine in a feature about "Mighty micro caps set to fly" - HMLH are a Star Pick:

"HML Holdings (HMLH:AIM) 42.7p
Market Cap: £15.9 million
Bid/offer spread: 5.68%

New property developments and increasing regulation could accelerate growth for residential management and services group HML Holdings (HMLH:AIM).

The South East-focused group provides surveying, insurance broking and on-site staff among its services to more than 51,000 units. HML specialises in apartment blocks and is looking to pick up business from new-build properties in the region as demand for housing grows thanks to under supply and lower
borrowing costs.

The £15.9 million cap’s growth strategy includes buying companies to complement organic growth. HML bought five property management services businesses in the year to 31 March 2015 and has since added Castle Wildish in Surrey to its portfolio (11 Sept).

FinnCap analyst Duncan Hall expects more deals to come pointing to increasing governance in the residential block management industry in what has traditionally been an unregulated area. This drive to improve standards could lead to higher costs and encourage consolidation in the sector.

Hall forecasts pre-tax profit growth of 15% for the group in 2015 to £1.5 million, year-on-year, and by 13.3% to £1.7 million in 2016. This growth can be bought on an undemanding valuation with the group trading on 13.3 times earnings, based on FinnCap’s prospective 3.2p earnings per share (EPS) forecast.

HML paid its maiden dividend in 2014 and the size of the shareholder return is expected to be held at 0.3p a share, or a 0.7% yield, until 2017 when the payment rises to 0.4p a share, or 0.9%, according to FinnCap’s figures."

[rivaldo] 23/9/2015 09:41

Many thx GrahamITY - 10%-15% EPS growth and "slow, boring progress" is exactly what I'm looking for :o))

I do agree about issuing market updates, even if only to say trading is in line. In particular, the recent regulatory change to remove the need for IMS's was a huge mistake imo.

[graham1ty] 22/9/2015 19:40

They have been open about the cost of jazzing up the IT and getting proper HR in place ( it is slightly frightening thAt none of us knew there was no proper HR before last year).

A bigger constraint is the right people to run the larger business. Rob has said before that buying in good people with an acquisition is a major criteria: not just to continue in their original business but to transplant into management in the Group. They have had difficulty getting the right people and that has held them back.

I do wonder slightly about the momentum. Fewer acquisitions, eps held back by higher operating costs, new areas of work( ie lettings). But came away happy that slowly, boringly, they will build, grow organically. Never shot the lights out, but as I wrote last year "slow boring progress". And if they continue 10-15% eps growth each year, that is good enough for me

[1regent] 22/9/2015 18:08

Thanks Graham1TY. I also attended the AGM this morning and walked out slightly worried that the pace of growth may actually slow down a bit due to various constraints including systems and infrastructure issues.

[graham1ty] 22/9/2015 16:47

AGM was fine. HMLH continues to what it boringly does....grow at a good rate each year. There are still acquisitions on the horizon, some organic growth, hopefully fading regulatory issues. Board ( "To tell the truth" Plumb) quietly confident. I have no immediate worries. Interims due in Nov will be first real trading update. Forecasts have been static for a while, but hopefully by the interims there can be comfort that all is on track.

Companies have few times each year to say anything, so it really annoys me, when they do have a chance, that they do not use the opportunity. So why no trading statement ? Even a "business as usual" reassures. Otherwise there is nothing since June and the market gets nervous. The excuse "we have nothing to say" is not good enough. Valuation is partly on historic numbers, partly on future numbers. Saying "all on track" puts the forecast into vision. It is the end of the six month period in a few days and close period. By the time they announce in November it will be month 8 of this new financial year. And we have nothing since the Prelims. IMHO that is a mistake. Rant over

[davidosh] 22/9/2015 16:16

I had a very late night Mello and awoke with a head full of flu so did not venture out this morning into the wet,damp conditions as bus,trains and tubes not condusive to speedy recovery.

Hope it went well.

[rivaldo] 22/9/2015 16:05

Couldn't make it to the AGM - wife's cold-ridden so on childcare duty!. Hopefully someone else attended and can post a few thoughts (davidosh if you get a minute?).

[davidosh] 14/9/2015 13:45

I cannot promise a write up but if I encourage others to attend and ask HML to do a presentation at the meeting then we should see something written up after.

I am so busy running tens of Mello events and with ShareSoc work that i rarely have time to do write ups and company postings these days. The ShareSoc Agm library of reports is a fantastic resource for any not aware of it btw

[pj 1] 14/9/2015 11:05

I may also try and attend but as I only have a current small holding it will not be a priority yet. I did add some on Friday afternoon. LTH.

[rivaldo] 14/9/2015 09:57

Nice little acquisition announced on Friday night.

The AGM is at least at a decent time, so I might try to come along davidosh.

[geovest] 14/9/2015 09:14

Hi David, would have gone but unfortunately travelling that week. Would you be kind enough to give a short summary, here or on the Fool?

[davidosh] 11/9/2015 18:31

It is another decent size deal and can be easily integrated into the HML Shaw operations. The Agm is on Tuesday 22nd Sept at 11am in the HQ in Richmond. Are any of you coming along ?

[graham1ty] 04/8/2015 11:41

Gone a bit wild this morning. Not complaining. New high paid of 47p

[battlebus2] 03/8/2015 21:34

Thanks Davidosh, didn't realise he held Concurrent tech, a very wise investment.

[davidosh] 03/8/2015 11:56

That will be me to blame then....I introduced John to the delights of HML as it fits nicely with his style of investing.

The Agm should be early next month and hopefully well attended and would expect an update too as the half year ends in September.

It has been linked with him in previous stories here...

[jaws6] 03/8/2015 10:10

rivaldo
Thanks for info on FT .
I hold this with idea.

[rivaldo] 03/8/2015 08:42

John Lee in his occasional weekend column in the FT mentioned that HML were one of his only two new holdings - a very good sign.

[rivaldo] 30/7/2015 09:41

New highs now - despite a 30k sale at 37.25p this morning. Must be good underlying demand.

[don777] 28/7/2015 10:42

ok,got it, many thanks.