H&t Share Discussion Threads

[outsizeclothes.com] 27/1/2014 12:35

I view today's news from Abermarle as good - it shows that H&T aren't going to overpay.

[michaelmouse] 11/1/2014 19:55

hxxp://michae1mouse.blogspot.co.uk/2014/01/fairpoint-and-h-group.html

Michael.

[sammy_smith] 08/1/2014 09:38

LISTEN: H & T Group (HAT) - Trading update

Click the link below to listen

[scotches] 07/1/2014 17:02

Numis called the update, "relatively reassuring".



hxxp://www.wkrb13.com/markets/245559/ht-group-plc-stock-rating-reaffirmed-by-nplus1-brewin-hat/


HAT net debt was reduced to GBP20.8m (2012: GBP27.6m)

The update is in stark contrast to ABM. How can two businesses which were so similar have fared so differently?

On the ABM thread a common theme to explain the demise of the company is that shop pawnbroking is a doomed enterprise subject to fierce online competition. Obviously there is indeed far more competition in this sector. HAT acknowledge this and indicate they will close non contributing stores. However they, "will look to acquire profitable Pawnbroking opportunities" ie snaffle up the good ones from ABM. "The current market consensus is for pre-tax profits to tumble to £5.85mln from £17mln in 2012 on sales tipped to dive to £98.6mln from £129.7mln."

So could the bulk of the industry problems be specific to ABM ie that it suffered a succession of poor management decisions - how else to explain the contrast with HAT? On the ABM thread there are some horrific stories of bonuses and pay offs to those managers who have brought the business to its knees.

[chalky] 07/1/2014 10:23

looking at the trading update these are in a much better position than the share price suggests especially a 7 million debt reduction and continuing.They certainly look in better shape than a few other companies in the same sector.

[michaelmouse] 05/1/2014 20:16

hxxp://michae1mouse.blogspot.co.uk/2014/01/the-low-pe-small-cap-high-yielders-vs.html

Michael.

[chalky] 09/12/2013 10:03

looks like they are in the pot to take over ABM in sunday times

[awesometactics] 03/12/2013 16:11

I'm considering taking a position here and obviously I see the business itself isn't completely on steady ground but IMHO this is now in "value" investing territory and there seems to be a decent amount of potential from this level.

Also i noted a 500K buy go through today so that definitely adds a level of confidence not that its relevant unless someone knows something special.

[dewtrader] 27/11/2013 22:14

to many competitors like wonga taking away business

[scotches] 27/11/2013 17:56

Since the companies are so similar I keep wondering if HAT is about to suffer the same fate. However at least the debt figure here is significantly better.

It seems that market conditions may indeed have been favourable for pawnbrokers but all that new competition has made serious inroads into profit potential.

A declining gold price is really just a convenient excuse to explain away management decisions. In fact HAT had continually stated they regarded the gold boom as just a temporary bonus. So now that the bonus has disappeared we'll just have to see if there is still a profitable business when up against multiple competitors.

Ironic that not managing debts and cash properly has brought down ABM - ie the fate of many of the clients.

[alphahunter] 27/11/2013 16:52

Says who?

Could ABM disappear gracefully, please?
Once they've smelt all their gold. And make space for HAT.

[shauney2] 27/11/2013 12:42

wrong thread

[alphahunter] 27/11/2013 10:35

Could ABM disappear gracefully, please?

[bench2] 31/10/2013 20:21

Now up to 165p , 10% above the 150p resistance line , what would appear to be a chart break but reported volume is tiny . We will need to wait a week or two to see if any large trades have been withheld from publication . Has everyone given up on pawnbrokers ? Post ABM debacle I don't blame you . Any other views would be most welcome

[bench2] 29/10/2013 10:05

Chart break at 150p looks interesting if it holds , must watch the volume for confirmation . I have not seen any new news and with gold price becalmed I see no positives in the trading background . Any thoughts ?

[alphahunter] 18/10/2013 07:48

Why would they buy ABM? No need there. ABM's assets will be offered to them on a plate by the "CRO", if they need any.

[undervalued companies] 16/10/2013 13:16

Have to say way overvalued still look at digital look forecasts going down in next 2 years and thats not taking into account falling gold price of sub $1000 in 2014.

Another point is IF the green shoots are here and recovery comes gold will drop further and the public will be given easier access to banks hence pawn brokers will have a double hit.

The third aspect better online presence needed at hat like wonga etc why go in some scary dodgy store with tramps when you can get money at home from the computer ? I understand there will be a market but until abm goes bust limiting the market to mainly Hat to many companies.

One last thought if hat buy abm this Sp will really go down the loo

[mikey62] 15/10/2013 15:13

It was a very reassuring statement..a totally different situation to ABM.

[bench2] 15/10/2013 13:14

If this breaks strongly above 150p on decent volume the chartists will get very excited , take a look at the chart above ....

[bench2] 15/10/2013 13:12

Worth reading the trading statement 2 or 3 times . With the gold price below U$ 1300 per oz the trading environment is still very difficult . But unlike ABM they have manageable levels of debt and have considerable flexibility to adjust their pledge book , asset base and retail estate . No reason to buy but this is a survivor and we should wait to see if any directors start to buy stock . We might have seen the lows at 127p !

[dewtrader] 02/10/2013 14:47

to many competitors like wonga taking away business

[bench2] 02/10/2013 11:55

If ABM goes into receivership it will be similar to Comet / Dixons but not quite as positive as traditional pawnbroking still in a mess and too many new competitors , both online and offline .

[grahamite2] 02/10/2013 11:37

The current price of Albemarle rules out the proposed rights issue and the 29.9% shareholder has also indicated it will not be giving support. There is consequently a genuine question mark over its continued existence.

To a large extent this is company-specific and the drop here looks overdone.

[outsizeclothes.com] 02/10/2013 11:17

Abermarle are in much, much deeper doo-doo, and are now in "rescue rights" territory. Anybody for second-hand pawnbroker stores ????
( Of course, if they did completely collapse it would be good news for us.)