Hacas Grp. Share Discussion Threads

[dil] 24/1/2001 17:55

You'll be coughing and spluttering trying to keep up when these take off Vernie boy :-)

Dil

[dil] 24/1/2001 17:41

All buys today.

Dil

[dil] 24/1/2001 17:39

All buys today.

Dil

[bema] 21/1/2001 17:13

Nice to see some other people appreciating the benefits of a 'boring' company.But I invest for profit and have held for a year.Check the graph I agree with cossie hold and forget.With cash in the bank I think further expansion is likely.Not a share for a quick profit but patience has been rewarded over time.I cannot think of any reasons to sell,maybe that is why it is 'tightly held'.DYOR
Bema

[dil] 20/1/2001 14:59

Mentioned in today's FT



Dil

[dil] 20/1/2001 14:58

Mentioned in today's FT



Dil

[cossie] 19/1/2001 10:29

very tightly held share, 2K either way moves the price. One to hold and forget about.

AGM end feb according to HS. Could be a feb SCSW tip??

C.

[dil] 19/1/2001 10:04

Coming off on very very light volume , needs a catalyst like an aquistion , good AGM update , etc etc

[hilly] 19/1/2001 10:01

Not looking too good at the moment. Any thoughts? Hilly

[chester] 19/1/2001 07:38

hilly: Your not following Dil and Cat like me are you ? Dil got it 'very' right with NAE, may'be Hacas is worth a look.

[hilly] 19/1/2001 07:13

Yes, I'm interested Dil. I bought some following you and Cat. Waiting patiently for some action!

[dil] 18/1/2001 23:41

Anyone else interested or am I going to spend the next 6 months talking to myself ?

Dil

[dil] 14/1/2001 20:33

Rated good value at 100p in Investors Chronicle who also suggest that fee income will be about £10 million for this year , 50% ahead of last year. With margins being mainained or improved as per the company statement then EPS should also improve about 50% to 6p WITHOUT any further aquisitions.

Can't think of any similar businesses but the company reminds me for some reason of Interior Services Group which I failed to buy a couple of years ago at 110p.

Starting from such a small base the next couple of years could see some rapid growth.

DYOR

Good luck

Dil

[dil] 14/1/2001 01:21

Rated good value at 100p in Investors Chronicle who also suggest that fee income will be about £10 million for this year , 50% ahead of last year. With margins being mainained or improved as per the company statement then EPS should also improve about 50% to 6p WITHOUT any further aquisitions.

Can't think of any similar businesses but the company reminds me for some reason of Interior Services Group which I failed to buy a couple of years ago at 110p.

Starting from such a small base the next couple of years could see some rapid growth.

DYOR

Good luck

Dil

[hilly] 12/1/2001 13:44

Thanks very much for your comments Dil. Am I right in assuming an earnings enhancing acquistion this year? I have forecast eps for 2001 at 4p. This gives a projected p/e of 30. How does this compare with similar businesses in this sector? I feel it looks fully valued, but I suppose its a question of how likely they are to make these earnings acquistions? Could'nt reply sooner with wretched ADVFN up the creek again. Rang to ask them if they would give us all a month's free as a goodwill gesture.

[dil] 12/1/2001 08:05

They also had enough cash to pay a dividend of over 10% but instead only increased it by 9% to 1.2p .
This suggest that they feel cash will be better used to enlarge the group as detailed above .

Dil

[dil] 11/1/2001 22:00

Here we go hilly :

Hacas beat forecast EPS for the year to 30.09.00 by over 20% and increased EPS by 38% .Assuming something similar for next year then revised forecast would show growth of 30% for EPS of 5.2p.

As stated , the company intends making further aquisitions and using the takeover of Chapman Hendy Ltd as a typical example then we can assume that the price paid will be around 12 times earnings and clearly earnings enhancing.

Taking this one step further , the MD stated :
"the business generates a strong cashflow and we now have available balances of around £3.3m".
If these balances were used to aquire further business on the same terms as the previous aquistion then this would add another 0.75p to earnings for a full year(assuming same tax charge) without the need to issue further shares.

This would bring current year earnings up to 5.57p assuming 6 months from the aquisition and making a further (conservative) assumption that the company can grow earnings a further 25% next year then forecasts for 2002 would be around 7.7p.

These calculations allow for no cost savings accruing to an enlarged group.

With the company looking to sell off more of its property portfolio and also being very cash generative then even more aquisitions could be made during this time.

As these aquisitions are so earnings enhancing then there would also be little problem in raising finance from the market for larger aquisitions in a very fragmented market.


Please feel free to pick holes in the above.

DYOR

Dil

[dil] 11/1/2001 19:34

Thats it CAT , wait for the brains to get home :-)

hilly : they are not expensive , will post up some calculations later.

Dil

[hilly] 11/1/2001 15:08

Bought some anyway!

[hilly] 11/1/2001 09:26

HCS Cat.Dil, do you think this is beginning to look a little fundamentely expensive? Would appreciate your advice.

[dil] 11/1/2001 08:04

Cheers AJB , Hi WR.

Had some more thoughts but will have to wait till later.

Dil

[wildrover] 11/1/2001 06:40

I've started a thread on ETrade, based on most of the good content from here, Cat, Dil and AJB thanks for the above information, I know nothing about funnymentals, but they impressed me ;-))

regards


WR