Hargreaves Services Share Discussion Threads

[ayl30] 14/9/2020 07:13

That or perhaps sale and leaseback of premises, or selling stake in business / forming joint ventureAny other views

[cjohn] 14/9/2020 06:21

I've been taking (another) look at HSP.

I wonder if any existing holder could interpret the following strategy statement from the latest prelims:

"The Board remains focused on delivering reliable and growing profits in and unlocking capital from its Distribution & Services businesses enabling strong cash returns to shareholders..... "


What does the reference to "unlocking capital" and "strong cash returns" refer to? Are they going to sell one of the relevant businesses, or flog off some of their assets? And have a special dividend?

Thanks in advance.

[beeks of arabia] 11/9/2020 17:42

Wow, a whole hour listening to Cas Tiger ;)

[jaws6] 11/9/2020 14:27

david good point ,agree -- Why are they not offering a zoom meeting option for investors to ask questions at the Agm?

from now on any co meeting I think that will be good question to ask.

[davidosh] 11/9/2020 11:10

The AGM will be held at the Company's registered office at West Terrace, Esh Winning, Durham, DH7 9PT on 28 October 2020 at 11.00am.

Owing to current COVID-19 restrictions, it will not be possible for shareholders to attend the AGM in person. The Board, therefore, strongly encourages shareholders to exercise their right to vote by proxy. Further details are given in the Notice of AGM.



Why are they not offering a zoom meeting option for investors to ask questions at the Agm?

[tomps2] 11/9/2020 11:05

Hargreaves Services (HSP) mentioned in this interview with Castleford Tiger.

Video:
Podcast:

[castleford tiger] 10/9/2020 23:32

Re- rating coming in my opinion
Tiger

[thirty fifty twenty] 09/9/2020 19:46

thks MG

so, at a very simplistic level, since this looks like Nick's first PLC role,
my assumption would be that the expectation is this is a relatively straight forward investment and that Harwood have much confidence in the current mgt already.

All IMHO, DYOR + BoL
HSP is in my top5 hldgs

[mg1982] 09/9/2020 18:08

Yes Nick is the son of Chris

[thirty fifty twenty] 09/9/2020 18:02

hi does anyone know if Nick Mills (the new NED appointment) is related to Chris Mills of Harwood?
thks

[castleford tiger] 28/8/2020 13:03

on the move

[castleford tiger] 26/8/2020 15:54

I can only tell you what I bought through Redmayne B

We expressed an interest for 10k and were told they were not available.
Left it with MM and he came back with the two amounts.
You will see I posted before they were showing.

Sometimes data is missing or wrong.
For example I sold 15k RBN shares yesterday at 145 and they never showed. They still don't on the data screen.
tiger

[cc2014] 26/8/2020 15:34

#1929 Could you kindly explain how both trades 19&20 are yours? One is an AT trade and the other is an O trade?

[harrogate] 26/8/2020 15:26

I think shroders are sellers and just my thought that they have a lot more to go -

[castleford tiger] 26/8/2020 15:23

We went to market for 10 and 25 this morning and there were no takers.
Eventually we got the 7400 and the 8000

How can you see there is an overhang

Tiger

[red ninja] 26/8/2020 15:22

Yes, my mistake.

I am holding HSP indirectly through Downing Strategic Micro-Cap IT.

Tempted to buy a few directly, but it might be worth waiting for Schroders/Artemis.

[harrogate] 26/8/2020 15:06

I agree with all that but there is a pretty large overhang and with Harwood close to max not sure who will have them.

[castleford tiger] 26/8/2020 15:01

correct at 28.5%.

With my 2 buys this morning I am holding close on 220k shares now.

I am of the opinion we should be around the 300p mark still over £1 under nav.

Land often produces far more than book value as well.

The special 12p on top of an approx. 7.5p means almost a 10% return without a capital gain.

Whilst the price is at these levels the shares are a strong buy.

I struggled to buy this morning and it ticked the price up.

Tiger

[harrogate] 26/8/2020 14:50

I agree that form is confusing but if you add all the bits up they are at 28.5% from 20.37% - they bought the stake that Schroders sold - they are the big seller

[red ninja] 26/8/2020 14:15

Mmm Harwood last notification seemed to show a slight trimming :-



Have I missed a more recent buy notice ?

Also AXXION S.A. seem to be selling :-

[harrogate] 26/8/2020 14:01

That is a bit out of date as the latest broker note after the results states that cessation of coal activity will release £30m of working capital this year. Also dividend will be 20p declared in FY 2021. So it is happening for sure. It look cheap but it usually does - thought Harwood moving to 29% would get some attention.

[red ninja] 26/8/2020 13:53

Downing Strategic Micro Cap IT view on HSP in final report (29 Feb 2020) :-

c. Hargreaves Services – will undoubtedly see a slowdown in demand for its services during the lockdown. The business does have a material net bank debt position of £35 million, however that compared with net assets of £130 million, within which inventory is over £60 million. This inventory position has doubled from £35 million the previous year, unwinding this increase would generate enough cash to degear the business. While management has highlighted that they do not expect this to happen in the current financial year, we think that it is an option for liquidity (albeit at a reduced price) if the situation worsened. The banking facility does need to be renewed in August 2020, but given the underlying assets, we do not think that this will be a problem. On the other side of Covid, we think that Hargreaves could
prosper from an economy flush with stimulus. This would create demand for the company’s services into infrastructure and its significant land bank for building as often these sectors are a core focus to drive
growth and employment.

[red ninja] 26/8/2020 13:46

It does look cheap at NAV per share of 403p (see Preliminary Results for the year ended 31 May 2020).

Any idea why Shroders and Artemis are selling ?

[castleford tiger] 26/8/2020 13:39

11.37 trades 19 and 20 are both my buys at 208.

Got a few extra this is silly cheap in my opinion
tiger