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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Myhome | LSE:MYH | London | Ordinary Share | GB0031249856 | ORD 5P |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
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|---|---|---|---|---|---|
| 0.00 | 0.00% | 5.00 | 0.00 | 01:00:00 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
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| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
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| - |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
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| - | O | 0 | 5.00 | GBX |
Myhome (MYH) Share Charts1 Year Myhome Chart |
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1 Month Myhome Chart |
Intraday Myhome Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 28/6/2010 | 01:27 | MyHome Plc - Life after the Acquistions | 416 |
| 10/1/2010 | 10:15 | Myhome Plc-Clean up with this multibagger!! | 3,022 |
| 09/9/2008 | 20:33 | Sensible discussion thread | 649 |
| 04/6/2008 | 16:43 | Sensable discussion thread | - |
| 06/8/2007 | 14:14 | myhome | 3 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
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| Top Posts |
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Posted at 10/2/2009 22:16 by argy2 lol................. |
Posted at 14/8/2008 19:46 by troll_detective I have absolutely no position in Myh but thought I'd throw this into the thread.I spoke to a mate of mine last week who is a large city franchisee with Myh (primarily to ask if he knew wtf was going on and to be careful - he wasn't aware of the share price collapse). What he did tell me was that he had work coming out of his ears..to the extent that it was difficult to keep on top of (unis, landlords etc). Really don't know if it means anything company-wise, or is tradeable but there ya go! |
Posted at 23/7/2008 15:20 by mikey_b From what I can see SM/RO and the other directors hold 33.2% of the shares worth £1.65m. RO/SM have options over I think 1.9m shares between them. MYH raised money and bought 27.42% of FIS. FIS has a market cap of £1.9m so you could say MYH paid £100k for £512k of equity in FIS.Looking at the FIS shareholders SM/RO have 4m shares each,equivalent to 22% of FIS so they used MYH money to buy shares in their own company. In the companies I've worked for this would be potentialy in conflict with corporate governance. The investment was to "allow MYH access to franchise opportunities". FIS have recently bought 50% of DTT an HGV driver training company in which again SM/RO are directors. I'm not sure how DTT fits with the MYH main strategy in home services?If I look on the upside MYH paid £100k for £512k of FIS shares and own 27.42% of DTT worth £548k. So MYH have used £100k of its shares to buy £1069k of FIS/DTT shares. Mind you DTT made a loss in their latest accounts and FIS are just starting up in investment so to be worth their M.Cap (MYH investment) they have to deliver in the future as they are not generating profit today. Not my words. Copied. DYOR. |
Posted at 23/7/2008 12:25 by gsands Myhome chief executive Russell O'Connell said the company was being "prudent" in current market conditions."I think we've been pretty clear that we are comfortable with the trading performance," he said. "The challenge is that in light of our share price and our more recent forecast changes, we realise there is a need for us to resize our debt. It's more of a formality - we haven't missed a payment or anything like that." The Myhome group said third-quarter results are in line with reduced trading expectations. |
Posted at 23/7/2008 12:17 by gsands Myhome InternationalOur view: Avoid Share price: 4.875p (-3p) Myhome International seems to belong to a different age. The group came up with the idea of franchising domestic services such as oven and carpet cleaning, window cleaning and lawn cutting for "cash-rich, time-poor" customers. The shares hit the giddy heights of 106p. One credit crunch later and it is a very different story. The dash for growth left an awful lot of costs needing to be taken out while at the same time the number of franchisees it has signed up has fallen short of expectations. The AIM-listed company, which is in breach of some of the covenants within its £8m bank facility, crashed 38 per cent yesterday after announcing it was discussing plans for a possible equity fund raising at a major discount to the current share price. Some of the larger investors will be asked for their support. In the meantime, it said trading for the third quarter to the end of September is in line with expectations. Trouble is, a long cash-squeezed summer could derail what, after all, are pretty flimsy arrangements between franchisees and customers. Potential franchisees are also finding it tougher to raise finance. Only those with good credit records stand a chance. The board says talks to restructure debt with Lloyds TSB are at a constructive stage. On the plus side, the company can point to near trebled sales during the first half. Even so, avoid. |
Posted at 22/7/2008 14:50 by gsands Read this in the context of the market valuing MYH at c£2.5m (plus £8m of debt)Commenting on the Acquisition, Russell O'Connell, Executive Chairman of Myhome, said: "I am delighted to welcome the ChipsAway management and franchisees to the Myhome group. After this acquisition, the Enlarged Group will have over 800 franchisees, a combined network turnover in excess of #80.0 million, over 1,000 vans in use and franchisees in 14 countries, making Myhome one of the biggest franchisors in the United Kingdom. I believe the Enlarged Group now has all the necessary infrastructure, personnel and brands in place to accelerate the development and growth of the Group's proven franchise concepts. " |
Posted at 30/6/2008 17:06 by gsands I think the company have communicated very poorly with the market and now there is probably some ill feeling.The research note from ED talked about recruiting 250+ franchisees this year. Frankly, that number is ridiculous when you consider the work involved in getting each frachisee off the ground. The support given to each one is huge. In addtion to an intense week long induction course, they are then immediately put into business start up mode, and for the next 3 months have daily support from MYH head office to get their businesses off the ground. I was told that so far there have been no failures. This is because MYH are careful about who they award franchises too and due to the comprehensive start up support they give to each franchisee. Do not expect rocket fueled growth here. We don't want it. What we want is good steady organic growth with each franchisee starting from a strong base. Remember - franchisee success is MYH success, via the royalty scheme. Also, the building of a quality brand is critical to the success of MYH. The company stated they had recruited 50 franchisees in three months. This must surely be about as much as they would want to recruit. I will be very happy if they are able to recruit 150 each year (£4.5m in revenue) and then make sure each one hits their 3 year business plan of £500m in turnover. With royalties of 12.5% of turnover, that is a very healthy income stream. As the company gain market position and the brand gains strength, the growth could go exponential within 2/3 years. |
Posted at 30/6/2008 14:12 by doughboy66 30th June 2008 Analyst: Wenyi Liuwenyi.liu@t1ps.com 020 7562 3377 Myhome International* Interims, Site Visit and Forecast/Price target Reduction Key Data EPIC MYH Share price 19.75p Spread 19.5p 20p NMS 2,000 Total no. of shares 63.546 million Market Cap £12.55 million Cash £200,000 Net debt £8 million 12 Month Range 14p 103.5p Market AIM Website www.myhome.com Sector General Retailers Contact Russell O'Connell 01372 471 573 Myhome International has announced its interim results for the period ended 31st March 2008 which contain an unexpectedly large re-organisation charge. As a result of this, and a cautious note on the effect of a macro-economic slowdown, we have reduced our full year forecasts and our target price. A recent visit to the company's headquarters in Esher has reassured us that the longer term growth story is on track but the benefits will only start to be seen in the year to 30th September 2009 rather than in the current year. It is on the basis of the outlook for next year that we continue to see enough upside to justify a recommendation of buy. In the first half of this year, revenues increased by 151.4% from £1.84 million to £4.63 million, largely as a result of November's acquisition of ChipsAway, but also reflecting steady growth across the "old" Myhome businesses. At a headline operating level, a loss of £2.81 million compared poorly with the £0.74 million profit reported in 2007. However the adjusted operating profit before reorganisation costs of £3.3 million, was £479,000 - which equates to underlying earnings per share of 0.79p - compared to £742,000 and 1.83p for first half of 2007. Myhome believes that its restructuring programme will deliver future annual savings of at least £500,000 per annum. The company generated £300,000 of operational cashflow but after the restructuring costs and some acquisition costs the outflow was £2.4 million and period end net debt was £8.6 million. The aggressive acquisition strategy pursued between 2005 and 2007 which culminated in the £16 million purchase of ChipsAway saw a dramatic increase in the size of the Myhome business but this inevitably added costs to management moreover the company was, historically, failing to deliver the cross-selling benefits between its various operations which it had hoped for. The closure of two subsidiary offices and the creation of two distinct business divisions, each with its own managing director will bring greater efficiencies and is also resulting in more effective group-wide marketing and cross-selling. The restructuring programme resulted in a number of redundancies, the closure of non-core offices and also included write-downs in the carrying value of certain assets. The first half numbers are quite clearly disappointing but the company stresses that the initiatives being taken are already bearing fruit. In the first half of this year 77 new franchises were recruited so far in April, May and June 50 have been signed up. However Myhome flags that the credit crunch is making it harder for some potential franchisees to obtain the £30,000 needed to purchase a franchise and this may slow second half recruitment. Myhome also states that there are some signs that job insecurity among its cash-rich but time poor clientele could affect franchise revenues in the second half. We forecast revenue for the year to September 30th 2008 and 2009 respectively of £10.4 million and £12.7 million but we have reduced our underlying pre-tax estimate for this year from £2.5 million to £1.1 million and for next year we have reduced our forecast from £3.25 million to £2.4 million. The disappointing performance of the ChipsAway business means that there should be no deferred earn out consideration so Myhome is in a position to start reducing its debt steadily and its balance sheet is not under threat. By 2009 if Myhome can deliver on its revised forecasts it will again be seen as a growth play and as such we would value this company on 10 times forecast 2009 earnings. As such we are reducing our price target from 68p to 45p but at 19.75p that is enough upside to justify a maintained stance of buy. |
Posted at 24/6/2008 13:25 by happygolucky To me, selling the franchises is a way to pay down debt and give the co. working capital and profit in the early years. As the number of franchisees grows, the number of available franchises must go down (assuming that each franchise has exclusivity from other Myhome operatives for a geographical area). For example, the master franchise for Australia (referred to on this BB a few weeks ago) can only be sold once!The long term business model of MYH surely depends on the growth of royalty payments as each franchise develops its business, has organic customer growth etc. Although there is some safety in numbers, I think MYH is a little bit of a hostage to the fortunes of the individual franchisees - having said that, if each franchisee pays 25k up front, they will definitely have the incentive to grow the business. I still think that MYH is a good business (especially as the sale of franchises will probably allow MYH to pay off sizeable chunks of debt fairly quickly) - I suppose we will find out soon enough if I'm right!! |
Posted at 18/6/2008 09:36 by lgpixels The business model and rapid international expansion of Myhome indicates that we should get at least 3-5 years of solid growth in both turnover and profits. Myhome brand is gaining in strength and should experience similar growth to Service Master in the US, which has turnover of over $1 billion. The current share price looks very undervalued based on historic fundamentals and this years forecast. Then we also have the prospects of significant future growth, so the shares look a solid investment at these levels. |
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