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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Horizon Tech. | LSE:HOR | London | Ordinary Share | IE0006881506 | ORD EUR0.07 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 92.50 | - | 0.00 | 00:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
Date | Subject | Author | Discuss |
---|---|---|---|
31/10/2003 17:03 | blackbear Might I humbly suggest that perhaps a thread with a charts theme needs something more along these lines: | mad4it | |
31/10/2003 16:27 | Regard's bb | blackbear | |
31/10/2003 08:28 | Anyone still here? | blackbear | |
27/10/2003 08:34 | Belated thanks bb | smoketrader | |
23/10/2003 16:29 | Just reminded me m8 , I was thinking about the Irish exchange myself today... Ill have a look around.. | blackbear | |
23/10/2003 16:03 | No, sorry. Good to see Gartmore have been buying recently. Do you know where I can get Irish Stock Exchange prices? | smoketrader | |
23/10/2003 15:41 | Dang the anchor was thrown out this time... a few buy's comng in at the end there... Maybe gartmore will be happy to pick up the rest of that 25k... Smokey have u got level 2? Cheer's | blackbear | |
23/10/2003 10:21 | Hmmm.. that 25k sell pushed it down by the looks of things. | smoketrader | |
20/10/2003 06:26 | Major breakout now , no resistance till 100p... | blackbear | |
17/10/2003 12:49 | Yep, having a damn good try for those 2 spikes at the beginning of September. If it breaks those then it's going to fly IMHO. | smoketrader | |
17/10/2003 06:29 | Well the chart looks awsome , making new high's for 2 years. | blackbear | |
15/10/2003 07:59 | Damn i just hope they are trading well.... | blackbear | |
15/10/2003 07:59 | Another nice tick up on no volumes...good news in the offing.? any mbo would have to be at least 100p..imho | blackbear | |
15/10/2003 07:44 | MM'S must be getting wound up now.... no sells coming yet, | blackbear | |
13/10/2003 16:32 | Could be, with any luck. This share is really odd - it moves on its own. Spooky. Nice to see it bounce anyway. | smoketrader | |
13/10/2003 08:31 | making another move today , start of the next biggy?? | blackbear | |
02/10/2003 15:20 | oh yes smokey.... looking good , chart wise anyway... | blackbear | |
01/10/2003 18:24 | Very quiet on here. Blackbear, are you still in these? I sense another upward move may be coming. | smoketrader | |
03/9/2003 10:41 | Horizon Beats Expectations..... At last here it is...m :) RNS Number:3091P Horizon Technology Group PLC 03 September 2003 Horizon Technology Group plc Interim Results For the six months to 30 June 2003 Horizon Technology Group plc, a leading system integrator and distributor of information technology products in the UK and Ireland announces its interim results for the six months to 30 June 2003. Horizon exceeds market expectations * Diluted Earnings Per Share adjusted exceeds market expectations at 3.33 cent; * Strong improvement in services, resulting in an increase in enterprise solutions gross profit margin from 14.7% to 15.9%; * In a challenging but stabilising IT market, Horizon has maintained revenues, improved profitability and increased tangible net worth; * Net cash balances are well ahead of expectations, resulting in further strengthening of financial position and balance sheet; and * Due to increased efficiencies, productivity improvements have been significant - revenue per employee has now reached a very satisfactory Euro1.26m per annum. Earnings Highlights - Six Months to 30 June 2003 Consensus Actual Broker % Euro'000 Expectation Increase Euro'000 Turnover 128,520 136,415 (5.8%) Gross profit 14,914 14,920 0.0% Trading profit (pre goodwill) 3,291 2,831 16.2% EBIT 2,527 2,131 18.6% Diluted EPS adjusted (cent) 3.33 2.54 31.1% Commenting on the results: Samir Naji, Executive Chairman of Horizon Technology Group plc said: "Despite the challenging environment, Horizon has maintained consistently high customer satisfaction levels, deepened its relationships with partners such as Hewlett Packard and Sun Microsystems and continued to win customers increasing its penetration in markets such as life-sciences, healthcare and retail. Horizon has also made significant market share gains in its traditionally strong sectors such as telecommunications and finance. Combined with effective cost control, these factors have allowed Horizon to further improve its financial position. The group is well positioned to take advantage of any improvement in the market and deliver growth in earnings going forward." About Horizon: Horizon Technology Group plc is a leading system integrator and distributor of information technology products in the UK and Ireland. For more information contact: Paul McSharry Financial Dynamics Ireland Tel: +353-1-6633633 Email: paulmc@fdireland.ie INTERIM REPORT TO SHAREHOLDERS for the six months ended 30 June 2003 OVERVIEW The first half of 2003 saw the return of stability in the IT market and Horizon's business and an end to the group's two year long consolidation process. The IT market is still challenging but the group has maintained revenues, improved profitability and EPS and increased tangible net worth. Horizon's strong financial position and careful management of its cost base and capital resources combined with continued focus on performance improvement have delivered good progress in the first half of 2003. The following table sets out a summary of the profit and loss for the six months to June 2003 and a comparison with the two previous six month periods. The six months to June 2002 was the peak half year for Horizon in turnover terms and the results for that period incorporate a number of businesses which were subsequently sold or discontinued and therefore a comparison with the six months to December 2002 is more meaningful. Six months to Six months to Six months to 30 June 2003 31 Dec 2002 30 June 2002 Euro'000 Euro'000 Euro'000 Turnover 128,520 128,485 192,927 Gross profit 14,914 15,323 24,491 Staff and other costs 10,990 11,435 20,362 Trading profit (pre goodwill) 3,291 3,176 2,559 EBIT 2,527 2,477 1,498 Retained profit/(loss) 148 (6,428) (7,161) Diluted EPS adjusted (cent) 3.33 3.33 1.26 Revenue for the six months to June 2003 at Euro128.5m was practically identical to the previous six month period in euro terms with a 2.5% increase in local currency terms. Distribution and channel services revenue increased 23% over the previous six month period while enterprise solutions revenue decreased by 12.8% in euro terms or 8.9% in local currency terms. The growth in revenue in the Irish distribution and channel services division was attributable to stronger customer demand, an improvement in market share and a one-off benefit from a Northern Ireland government rollout of IT equipment to schools. The weakness in enterprise solutions revenue arose in the UK enterprise infrastructure and services (EIS) business, which grew significantly since its launch in 2000, but as expected, suffered in the first half of 2003 as a result of reduced customer spending, particularly in very large, lower margin capital projects. The Irish EIS and the Irish enterprise application and services (EAS) businesses continued to perform strongly. Gross profit margin for the six months to June 2003 at 11.6% was down from the 11.9% achieved in the six months to December 2002, reflecting the change in the sales mix between distribution and channel services revenue and enterprise solutions revenue. The gross profit margin in the enterprise solutions division increased from 14.7% to 15.9% reflecting higher services content and a change in the sales mix in the UK EIS business. In the distribution and channel services division gross profit margins fell principally because of a very low margin on the project to rollout IT infrastructure to schools in Northern Ireland. Trading profit (pre goodwill) for the six months to June 2003 at Euro3.29m is up 28.6% on the comparative six month period to June 2002 and 3.6% on the previous six month period. The improvement on the previous six month period is primarily due to a further 5.7% cut in staff costs and a 1.2% reduction in other costs, as the group continued to benefit from its internal emphasis on cost efficiency and overhead reduction. Headcount has remained relatively static over the six month period. The current full time equivalent headcount of 204 compares to 208 six months ago. Costs have been reduced by 46% since the equivalent period of last year and by 68% from the peak level in March 2001. Productivity improvements have been significant, revenue per employee is now a very satisfactory Euro1.26m per annum. Progress has been made in the drive to reduce the future lease obligations for properties that lie vacant. These liabilities arose from the sale of the Cisco training business and the restructuring process. The group has entered into, or expects to enter into, agreements to sub-let, assign or otherwise dispose of a number of these obligations. The combined benefit of these agreements is to create annual cash inflow of Euro1m thereby reducing the annual cost of vacant properties from Euro2.9m to Euro1.9m in early years. The directors have estimated the income that can reasonably be expected from remaining vacant properties and, having taken into account the weakness of the commercial property market, have concluded that the accounts should include a non-operating exceptional charge of Euro1.25m and a balance sheet provision for future costs of Euro5.7m. The group's cash flow and financial position remain strong. Net cash balances at 30 June 2003 were Euro2.5m. In the six-month period to June 2003, stock days were reduced by 4 to 24 days and debtors days were trimmed by 6 to 43 days. This was offset, as expected, by a 16 day reduction in creditors days, principally attributable to the reduction in the credit received from HP following the HP/ Compaq merger. Through careful management of the cash conversion cycle, capital efficiency has shown a marked improvement. Working capital has been reduced over an 18 month period by Euro33m or from 42 days to 9 days. A number of factors contributed to the particularly low level of working capital of Euro6.6m at 30 June 2003 and a more realistic maintainable level for the future will be approximately Euro8m higher. OUTLOOK Although the market has become less volatile, IT spending shows no sign of significant improvement in the short term. Unit volumes and services delivered will show reasonable growth but as a result of productivity improvements and reductions in vendors margins, market revenue growth will be marginal, if any. However, Horizon has completed its consolidation process and has strong market positions, a very competitive cost structure and efficient processes. In addition, it has excellent relationships with blue-chip customers and global IT vendors and a debt free balance sheet. Leveraging these competitive advantages has enabled Horizon to grow market share even in challenging market conditions and the group expects this trend to continue. The group will continue to develop and enhance its existing businesses to create growth in profit and cash flow. Although the group remains cautious, it will constantly monitor the developing IT market in the UK and Ireland to identify new opportunities that would achieve growth in profit and shareholder value. Horizon is a profitable group, commercially and financially well positioned and ready to take advantage of any upturn in market conditions. Samir Naji Executive Chairman 2 September 2003 OPERATING REVIEW for the six months ended 30 June 2003 DIVISIONAL ANALYSIS The group operates through two separate trading divisions, namely enterprise solutions (previously referred to as IT services) and distribution and channel services. The performance of each division is detailed Building relationships with high profile companies Commenting on the results: Samir Naji, Executive Chairman of Horizon Technology Group plc said: "Despite the challenging environment, Horizon has maintained consistently high customer satisfaction levels, deepened its relationships with partners such as Hewlett Packard and Sun Microsystems and continued to win customers increasing its penetration in markets such as life-sciences, healthcare and retail. im holding these for a while yet... looking forward with confidence... | blackbear | |
03/9/2003 10:37 | Building relationships with high profile companies Commenting on the results: Samir Naji, Executive Chairman of Horizon Technology Group plc said: "Despite the challenging environment, Horizon has maintained consistently high customer satisfaction levels, deepened its relationships with partners such as Hewlett Packard and Sun Microsystems and continued to win customers increasing its penetration in markets such as life-sciences, healthcare and retail. im holding these for a while yet... looking forward with confidence... | blackbear |
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