||EPS - Basic
||Market Cap (m)
|Electronic & Electrical Equipment
Holders Technology Share Discussion Threads
Showing 876 to 900 of 900 messages
|So the move up to 40p was probably a large order; but, if so, why would anybody be so cack-handed?
Or have they been tipped in some obscure fly-sheet?|
|Agreed - that's what I meant really by "The Board". Anyway, it's fallen a bit now, so back into hibernation for another three years (though NTAV would still see a near three-fold rise! :-)|
|Yes, the board aren't going to sell out at below net tangibles. So perhaps we can conclude that it more likely tan not is not a bid. Surely, Weinreich would be more likely tot ake the company private?|
|Indeed. And if it is a bid, it would have to be at a hell of a premium to be successful - unless it's coming from the Board of course.|
|Well, that's certainly the most dramtic movement in HDT's share price that I can remember in many years of quarter-following the share.|
Probably too much to hope for with Rudi Weinreich holding 45% unfortunately.|
|Results next Friday?|
|I wonder if sterling at these lower levels will have a significant effect on the results.|
|Seems to slowly start moving up from its lows. No doubt the weak sterling will help.|
|A small divi was the only bright spot.|
|Not sure until the results are out.
Mcap is getting so small it is not worth being listed.
Might as well organise a reverse takeover and sell the baggage back to the chairman.|
|Is this kaput yet...|
|Hopefully the Chairman is starting to get concerned about his retirement nest egg. He may actually plan to close this discount.|
|I'm pleased with the margin improvements. Cutting out 'busy-fool's' business is always welcome.|
|Pleasantly surprised by their results given the strong pound. They managed to slash overheads to contain the damage. Net assets per share at 107p nearly three times market value!!|
|I congratulate you for attending their AGM.
I hope that your time is rewarded.|
|On Friday I attended Holders' AGM. Despite being the only non-Board shareholder to attend the four directors were very welcoming and considerate.
They were also very patient and tolerate as I bombarded them with some quite brusque questions for an hour. I thank them for their generosity with their time, and apologise if sometimes I came in too hard. (Earlier posts on Holders: 4-10th Nov., and 23rd and 24th Feb on my Newsletter site)
My main concern is whether the company has any sustainable competitive advantage, whether there are any sustainable barriers to entry in the industries in which they competed and, thus whether there was real reason to hope that the sale prices of their products can be lifted above cost by a significant margin.
In short, whether shareholders might witness, over the next few years, a satisfactory return on capital employed. I estimate the capital employed to be around £4-£5m and so expect around £320,000 to £400,000 profit/cash flow to be generated year-in year-out, as a minimum.
Otherwise, why go on?
They recognise that the printed circuit board component business is commoditised, with rivals offering very keen prices. In order to maintain market share Holders cuts prices to the bone, resulting in low profit margins and very poor ROCE. Furthermore, the market is in secular decline. It was good to hear recognition of these harsh facts.
So the plan has been to develop the LED side of the business. Until now this has been loss-making. If I take an optimistic/generous line there are two reasons for this:
(a) the cost of getting things off the ground – new marketing teams, trade show costs, etc. – but the payoff comes later, and
(b) they follow the well-trodden route that many competitors have gone down of being a supplier of simple components with very little value-added.
(The pessimistic/harsh line is that they do not compete well).
Again, there is an acknowledgement of poor industry economics in this type of business. I’m pleased to see that reality has hit home.
In response, they have been developing a business which they hope will have barriers to entry and thus a competitive advantage.
This business is......
..........(ADVFN asked to put most of the analysis on my Newsletter site http://newsletters.advfn.com/deepvalueshares/)
|I say just put the company up for sale...no scale here...|
|Time will tell!!!|
|Yes I noticed that as well the odd small buys going through last few days....any takeovers or a contract win....|
|Something brewing here since yesterday!!!|
|& the Chairman is getting on.|
|I've looked at this company several times in the last few years and have never been tempted to invest, in spite of the discount to current assets.
Their areas of business are highly competitve and favour larger concerns than HDT. They are very unlikely to sustain profits, much more likely to sustain losses. Asset value is going to reduce y-o-y most likely. And the real worry must be of heavy losses, if margins worsen.
Then there's the risk they are taken private, a real one, even though they have used their listing to raise cash from equity in the past.|
|This company should just put itself up for sale...any possible takers out there?....|
|I believe that the Chairman went to the School of Hard Knocks not Management By Abacus.|