Harvey Nash Grp Share Discussion Threads

[thorpematt] 07/7/2016 00:07

yes result were affected last year by strong Euro vs £ so an improvement is liekly for this year I'd guess.

HVN reckoned Brexit would leave european operations broadly un-affected. Really it isn't "trading" with europe, its subsids are based there!

Monies are re-patriated with profits (and reported turnover) being effectively the bit affected by currency movements. Obviously "local" margins ar less affected since revenue and overheads are almost allways transacted in the same currency as each other.

[closetinvestor] 06/7/2016 16:05

Answering my own question :-)

hxxp://www.harveynash.com/pdf/2016-HarveyNashAnnualReport.pdf

Gross profit split for 2016:
41% UK & Ire.
16% US.
6.5% Asia.
Rest Europe

[closetinvestor] 06/7/2016 10:15

Anyone know what the split in earnings is globally here?

[deadly] 30/6/2016 10:40

Definitely too cheap after that AGM statement today.

[touche] 23/6/2016 10:09

This is too cheap now. Top up for me.

[speedsgh] 17/6/2016 14:28

For the brave, these are now on a forward yield of 6.4% for the current FY (based on DPS 4.20p). Dividend has increased roughly 10% per annum since 2007/08.

[pictureframe] 17/6/2016 14:22

Was going to take a stake here but think I will pass - when you get selling of options by management to make £8k it doesn't inspire confidence.

The Company announces that, on 27 May 2016, the Person Discharging Managerial Responsibilities ("PDMR") listed below exercised options under the Harvey Nash 2005 Executive Share Option Scheme to acquire ordinary 5p shares in the Company as follows:-

PDMR No. of Exercise No. of Resulting
options price shares holding under
exercised sold this exercise
@ 68.64p
(weighted
average)
------------------- ----------- --------- ----------- ---------------
Mr. T. Blumenberg 100,000 GBP0.60 100,000 Nil
------------------- ----------- --------- ----------- ---------------


The shares acquired following the exercise of options were sold gradually over a period three weeks, with the final sale made on 17 June 2016.

Following these transactions, Mr. Blumenberg continues to hold 30,000 ordinary shares in the Company, which represents 0.04% of the issued share capital.

The option exercise was satisfied by a transfer of 100,000 ordinary shares from Harvey Nash Group EBT Limited. Following this transfer, Harvey Nash Group EBT Limited holds 797,584 shares. The Trust is a discretionary trust under which all employees of the Harvey Nash Group are potential beneficiaries, including the directors, each of which is deemed for the purposes of the Companies Act 2006 as interested in all of the Shares held by Harvey Nash Group EBT Limited.

[zoolook] 16/6/2016 12:38

AGM statement from Dillistone (DSG) two days ago indicated that it was pretty quiet for recruitment companies at the moment with referendum uncertainty

[its the oxman] 27/5/2016 16:08

R things that bad this deserves to be under 70p?

[deeppockets] 04/5/2016 17:49

Just the 5?! At least 10!

[gargoyle2] 01/5/2016 09:58

Hmm, you could be right. It's confusing though, isn't it? I would have thought it would be much clearer to sat "at least 15% per annum". If it is 15% par annum, that's 52% over the 3 years, which doesn't sound so bad.

Agree with deeppockets thought that the board have been pretty useless over the last 5 years.

[muangsing] 01/5/2016 09:05

gargoyle2

reference your post 2902

the RNS states " company's compounded ANNUAL growth ..... to be at least
15% to vest in full...."

ie you missed out the word ANNUAL

[deeppockets] 29/4/2016 15:21

The senior management here including the CEO have been there ages and achieved almost nothing if you look at the share price. Some of the Directors were pretty average performers 10 years ago, and now they're managing the business - frightening! Some areas have barely increased in years. they need to sell the business or get out. They're overpaid for doing very little. They've handled the market badly and not recruited top performers from outside (fairly typical from recruitment companies bizarrely!). Considering the economic recovery in the last couple of years they have not done well considering what their competitors have done.

[shanklin] 29/4/2016 15:15

Is that EPS excluding the negative exceptionals?

[gargoyle2] 29/4/2016 14:53

Not sure why the directors are getting performance awards. Shares vest if the compound growth in EPS over the next three years is 15% or more. That's not 15% per annum, but 15% over the full three years, i.e. under 5% per year. Setting the barriers high!

[thomasthetank1] 28/4/2016 14:09

Read Panmure Gordon & Co's note on HARVEY NASH GROUP, out this morning, by visiting hxxps://www.research-tree.com/company/GB0006573546
"FY16 results (Jan Year End) should please investors, with both earnings and cashflow in-line with PG estimates: PBT +8% to £9.3m, net cash £0.2m (Jan-16) vs £2.1m (Jan-15). In terms of geography: UK is challenging but showing signs of stabilisation, Europe firm. As a consequence, there is no change to our forecasts. Harvey Nash is clearly delivering but the P/E is sitting on a material discount to the sector...."

[essentialinvestor] 28/4/2016 13:23

Not currently holding, have in the past.

Surely this is worth a lot more to a larger industry player?,
perhaps not a good enough reason to buy and hold, have it on a watchlist.

[phillis] 28/4/2016 13:15

The point in fact is that intangibles are high because businesses have been bought at a premium
and where has it taken the business?

Not v far in the last five years

[edmundshaw] 28/4/2016 12:56

Of course intangibles are high it's a recruiter. Tangible assets are only useful if the company goes bankrupt (preferably before the company has been asset stripped (cough) (BHS) (cough)) or the company can release value from the assets.

[phillis] 28/4/2016 12:03

HVN net worth in 2012 was £63.5m
Now £54.1
of which intangibles £50.7

Nuff said

[chickcrumbs] 28/4/2016 09:59

eclair... as have I so will continue to hold.

[eclair] 28/4/2016 09:55

Edmund

I completely agree with what you say. HVN pays a nice steadily increasing dividend and over the years I've been able to sell some high and buy them back low. What's not to like in that?

[edmundshaw] 28/4/2016 09:16

Almost every company "throws in exceptionals" most years.

HVN is one to buy low and sell high. It is at the moment on the lower side of mid range. So I am neither adding nor selling. People have talked about the margins and the potential for becoming loss-making for the last 10 years, but it keeps not happening, year after year. Diversified earnings streams.

In the last few years Harvey Nash has made me quite a bit of money. I recognise current risks, but I am looking longer than most here I reckon.