Norman Hay Share Discussion Threads

[skyship] 04/4/2002 15:25

Well. I've tucked away another 10,000 @ 25p. As I say above - one to accumulate.

[skyship] 04/4/2002 11:45

FINALS:

T/O: £15.6m v. £14.0m
GP: 4.96m v. 5.08m
Pretax: 525/- v. 332/-
Tax Cr.: 65/- v. 45/-
Post Tax: 590/- v. 377/-
EPS: 4.1p v. 2.6p
Div. U/C: Fin 1.2p (TOT for Yr = 2.2p)
@ 25p: Yld = 8.8%; PER = 6.1
NAV = 45.1p (35.6p exc. Intangibles)

Not an exciting stock; but one still to accumulate at these levels IMHO.

Does anyone know the extent of the Tax losses still to bring forward? On a normal tax charge the EPS would fall back to 2.5p

[rickster] 18/3/2002 15:47

airrage

When are the results? Thanks!

Do you think we'll see 30p when they are announced? I hope todays rise is the start of a buildup. My portfolio needs some blue in it!!

later
Rickster

[airrage] 18/3/2002 14:53

looking forward to the results, glad to see so much activity on this board, beats those old quiet days.

[rickster] 15/3/2002 15:50

Wish it was me but I can't afford anymore as I piled into RON this morning and my money has dreid up!!

later
Rickster

[skyship] 15/3/2002 15:45

SO. own up....who bought the 10000 @ 25p a couple of minutes ago? And what do you think the Finals will bring us next month?

[skyship] 12/3/2002 11:24

If we are right to surmise that the recent acquisitions, however small, suggest that second half trading has been better than we might have supposed, then puely on a yield valuation HNN should progress to 30p again - where it would still yield 7.3% on a retained 2.2p total divi.

To break through that level would imply indications of real progress, backed up by a Brokers circular (Brewin Dolphin).

Do any other holders out there have a view, or a contact with Brewins?

[rickster] 11/3/2002 16:36

Skyship

I got in some time back at 26p expecting a quick profit. Hasn't happened so am sitting tight. Would like to see 30p though. Do you see this happening around the results? Very little buying activity over the recent weeks. Maybe we'll see some coming up to the results??

Todays mark up is interesting as there are again no buys. They dropped the bid by 2p without any sells and has now risen without any buys!! MMs!!

My target is >33p. Will I see it before the summer??

later
Rickster

[skyship] 11/3/2002 11:57

Should only be another three weeks to the Finals - anyone got a date yet?

I am quietly confident that they will retain the dividend; and that would presage a move back to the 30p level IMHO. At the time of the Interims they stated "we continue to monitor & review cashflow; and will exercise caution regarding capex, acquisition & dividend policy should any major change in economic outlook occur."

Well, there hasn't been any major change in the economic outlook; & since then they have announced both the AEA & PMD acqisitions. So the dividend should surely be safe. What do others feel........

[rickster] 27/2/2002 15:51

Do the MMs want some stock? A 2p drop with no sells or buys? Seems fishy to me. They aren't having any of mine! I think they may just be tree shaking to test the water and see if they can scare out any cheap sellers- bet the ask price hasn't fallen by 2p - have not checked though.

later
Rickster

[rickster] 20/2/2002 17:30

I heard it was General Motors??

later
Rickster

[tday] 20/2/2002 16:47

I suppose there's no truth in the rumour that HNN is going to bid for Vodaphone?

[rickster] 19/2/2002 17:28

Tday

Good point!

It's damn quiet round here - no buys, no sells, no news??

Later
Rickster

[tday] 15/2/2002 17:32

Not to mention a barren one too!

[rickster] 04/2/2002 16:31

Been away, so interested to hear about the aquisition. Hope it's immediately positive in terms of earnings/profit etc and not an old dog that needs turning around.

Some news is welcome as we had a baron spell for 3 months or so!

later
Rickster

[airrage] 28/1/2002 01:23

Seems moves are afoot this year, board changes and acquisitions so far.

[skyship] 26/1/2002 14:55

Not disclosing the financials is somewhat unusual surely; however from a purely emotive point of view, this has to be good for HNN. You don't go out making acquisitions, nor do bankers support them, if your own business isn't in good enough shape.

Personally much encouraged by this move.

[airrage] 25/1/2002 16:29

Is this a good buy? or will this put Hnn in the Sh1T(another job for ERG)

[airrage] 25/1/2002 16:09

Norman has been out shopping today, check your favourite news source;

Norman Hay plc today announced the acquisition of the business and assets of
Lancy Water Engineering, ERG Process Plant, and Ardox Engineering from ERG
Environmental Resource Group plc - a subsidiary of AEA Technology plc.

more later

[jasonge] 24/1/2002 15:54

Anyone concerned about the slow drop, probably just because of industry lull after last years events, I would appreciate any educated thoughts
JasonGE

[skyship] 15/1/2002 19:46

OK - WHO BOUGHT THE 10/- @ 23P TODAY? IT WASN'T ME........

[skyship] 08/1/2002 20:17

ACOL - Got my next 10000 in @ 21p today. Hope to find some time for a deeper delve into the fundamentals before dipping in for more. AIRRAGE - Congratulations to one of the few ahead of the game in 2002. I can't match your performance, and the fact that I'm ahead over the past year is entirely due to going massively overweight in one stock - HTH; and I'll stay overweight for some time to come. Nearly bought more today; and may do so if I can get more in single figures. Who could be selling HNN at these levels?....SKYSHIP

[rickster] 07/1/2002 17:25

airrage

I agree, it's great to see more posters! And good positive ones at that who have clearly done some good homework - thanks!
I am planning to get a few more of these and average down from 27p although I think that will be surpassed in reasonable time. I don't mind being in early when news is quiet - let's just hoep the flock follow in the future.
later
Rickster

[airrage] 06/1/2002 21:20

Acol and SKYSHIP Welcome aboard, nice informative posts. I agree this is one to buy when disinterest peaks(otherwise you pay 30P at NMS). It is the only way I've been able to buy above NMS(all below 25P). There is no doubt HNN is undervalued, how long we wait to realise that value is the biggest question. The recent NAPM figures and those in the UK and Europe might mean engineers have seen through the worst already.

Sorry to see it form a lower low(fall below mid-20's it's rising trend). Not that technical analysis can be applied to such an illiquid share, and I don't. The longterm 5year graph is useful however, and given that we are at it's lowest price since 1996, I think we should see some solid support at these levels. Especially if a manufacturing recovery were to develop. A drop in the pound as indicated would also be very supportive. It's good to look at the 5year to get a idea of where these shares could return to in the good times.

Either way I'm adamant that any purchases at today's level are a one way bet over 3years(plus a great div while you wait). Shame it's AIM-listed because I've only got available cash in my ISA. Which is probably good as HNN already take up a large enough % of my speculative portfolio.

SKYSHIP glad you made some money on MCR, I'm out now as well. Had a great year last year(20-40%gains rolled over)with DYS, MCR, TRA, ACR(made 20% in a week), BDH, AIP to name a few(all my buys and sells are posted on appropriate advfn bb). I've recently bought and waiting for profits on MMT, ACR, JKX, PRSC, and APC(the last two stand to benefit once ADSL/broadband eventually takes off in the UK and elsewhere, at present only 100,000 out of 50million people in the UK have broadband connection. Broadband is as inevitable as having an internet connection.) Only HNN didn't deliver as promised last year, but I am happy holding.

Nice to see such a busy board.