Hasgrove Share Discussion Threads

[papalpower] 30/7/2008 07:23

RNS Number : 1630A
Hasgrove PLC
30 July 2008

Trading Update

Hasgrove plc (AIM: HGV, 'Hasgrove' 'the Group'), the pan European marketing and communications services group, is providing a trading update for the six month period to 30th June 2008. The Group had a strong first half and trading is in line with market expectations.

Hasgrove has experienced growth in all parts of its business and is currently focused on integrating recently acquired assets and pursuing further organic development. The Group's strength is based upon the diversity of its operations both in terms of discipline and geographical exposure; more than 50% of Group revenue is now generated outside of the UK as a consequence of both UK exports and businesses based in continental Europe.

During the first half of the year, the Group completed the acquisition of Politics International (PI) which has joined the Group's Public Affairs and Corporate Communications Division. The acquisition of PI was an important step in completing the Interel Public Affairs network. The integration process has progressed smoothly and the Group is now enjoying the benefits of the expanded public affairs network. At the beginning of the year Interel Public Affairs and Cabinet Stewart merged. This integration was accelerated by the move to new offices in the EU district of Brussels.

In June the Group announced the merger of three of its businesses to form Amaze plc. Amaze will build on the creative, media and technical expertise developed by the three constituent companies. Amaze will be able to deliver a broader offering of marketing and technology services that is required by larger international clients. Traditional PR, print and broadcast advertising and brand consulting will remain part of the core service offering. Amaze's clients will benefit from both the extended service offering and shared knowledge base, in addition to a proven 10-15 year track record and expertise across a number of key market sectors. Amaze's management team is now in place and the integration is progressing well. The integration will involve a number of office moves over the next twelve months.

Hasgrove's two design consultancies The Chase and Landmarks, continue to contribute to the Group by acting as a catalyst for new business development and synergy development. For example, Landmarks has been instrumental in helping Amaze to grow its Brussels based business, whilst The Chase led the Group towards a significant and wide ranging role with GMPTE and is now acting as brand guardian for The Co-operative.

Odyssey interactive has continued its strong growth since joining the Group with a number of notable contract wins. The company has developed a fourth generation version of its intranet software. The product will be launched next week and has already developed a healthy order book.

During the year, Interel has won major client engagements based on the consequences of the credit crunch. Our digital businesses continue to win significant new contracts, maintaining a strong public sector emphasis. These new business wins combined with the strong performance of the enlarged Group give the Board considerable confidence in the Group's ability to maintain the progress made so far in the current financial year.

The Group expects to publish its interim results for the year to 30th June 2008 in early October.

[papalpower] 19/4/2008 10:11

From GCI :





Hasgrove - ADD

Companies: HGV

17/04/2008

Our faith in pan-European marketing and communications group Hasgrove has only strengthened following strong 2007 results. Pre-tax profits, adding back non-cash charges, rose 44% to £2.6m, on 42% top line growth to £21.7m (compared with a ten-month period to December 2006).

As well as decent like-for-like growth, this was a year in which the ambitious venture integrated four substantial acquisitions – Cabinet Stewart, Odyssey, Amaze and Pavilion, the latter two beefing up its presence in the high-growth digital space – from which Hasgrove has already begun to see synergistic and new business benefits.

Annual highlights included strong 63% profits growth in Hasgrove's public affairs and corporate communications division, consisting of Interel, Cabinet Stewart (an acquisition consolidating Interel's standing as one of the leading EU Public Affairs consultancies in Brussels) and Odyssey. Sales growth in the digital and communications division was impressive, up 44% to £6.2m with operating profits growing by 22% to £614,000.

Under Rod Hyde, the architect of the group's astute organic and acquisitive growth strategy, focused on high-growth, niche areas of the marketing sector where the company has the potential to be a market leader, further takeovers are planned. The latest addition to the fold was February's £2.7m-to-£3m acquisition of Politics International, a London-based public affairs consultancy.

Based on last year's earnings figure of 9.8p the shares, backed by Growth Company Investor at 144p early last year and now dividend paying, trade on a modest historic p/e ratio of 12.7 times. The de-rating reflects lack of liquidity perhaps, as well as wider investor disaffection with small caps and uncertainty regarding the marketing sector. However, with the financial firepower in place to fund further astute deals, the modestly priced shares should have further to go and the shares are certainly not to be sold. Existing investors might even consider averaging down.

[papalpower] 17/4/2008 07:09

Well, TMMG seem on the surface to be doing ok.


The Mission Marketing Group PLC
17 April 2008

The Mission Marketing Group plc

PRELIMINARY RESULTS
FOR THE YEAR ENDED 31 DECEMBER 2007

Rapid group development combined with strong organic growth delivers market
beating performance

17 April 2008

The Mission Marketing Group plc ('TMMG, themission(R)'), the UK marketing
communications group, today announces its preliminary results for the year ended 31 December 2007.

The highlights below show the results for the period with comparable results for the previous year. Proforma numbers assume all the existing Group companies have been owned since 1 January 2006.

• Operating income up 120% to £33.0m (2006: £15.1m)

• Operating profit up 195% to £7.4m (2006: £2.5m)

• Operating margin increased from 16.8% to 22.5%

• Proforma turnover up 10% to £103.7m (2006: £94.6m)

• Proforma operating income up 14% to £42.3m (2006: £37.1m)

• Proforma operating profit up 15% to £11.0m (2006: £9.6m)

• Proforma profit before tax up 19% to £9.0m (2006: £7.5m)

• Diluted EPS up 173% to 13.44 pence (2006: 4.92 pence)

• Diluted EPS excluding IFRS interest up 162% to 17.82 pence (2006: 6.79
pence)

• Final dividend of 0.74 pence per share proposed, full year up 10% to 1.1
pence (2006:1.0 pence)

• Net cash of £8.9m (2006: £5.2m) with strong operating cash flow and cash
conversion

• Digital revenue trebled (proforma 61%) and made up 14% of full year
operating income

• New on-line and off-line clients include West Indies Rum and Spirit
Producers Association, AEGON, Domino's Pizza, Sharwoods, Grant Thornton,
Sugar Puffs and St Austell Tribute Ale

• Acquisition strategy actively implemented: four major acquisitions made
during the year. Integration benefits coming through as planned

• The current year has started well and the Board remains confident of the
prospects for the year.

[matt] 15/4/2008 11:31

TMMG results comment on Thurs could be interesting for a feel on the advertising market.

[papalpower] 15/4/2008 11:29

Difficult to say, no recession is like the last, will future recessions result in increased marketing and advertising spend to capture market while others struggle ? Will budgets be reduced as per previous recessions ? Who knows.....

[matt] 15/4/2008 07:46

So what do you make of these? Will advertising and comms be hit in a recession. People always suggest it does.

[papalpower] 15/4/2008 07:13

Hasgrove PLC
15 April 2008

HASGROVE plc

Profits up 44% and maiden dividend proposed as Group integrates four
acquisitions


Hasgrove plc (AIM: HGV, 'Hasgrove'), the pan European marketing and
communications services Group, announces its preliminary audited results for the year ended 31 December 2007.

Headlines

• Turnover increased by 42% to £21.7m (2006: £15.3m*)

• Gross profits increase to £15.1m (2006: £10.3m*) - like for like up 6.7%

• Strong performance by Public Affairs and Corporate Communications and
Digital divisions - operating profits up 63% and 22% respectively

• Headline PBT jumps by 44% to £2.6m (2006: £1.8m*)

• Headline basic EPS up by 6.5% to 9.8p (2006: 9.2p*)

• The Board is proposing a maiden dividend of 0.5p per share

• Net debt at 31 December 2007 £4.9m (2006: net cash £3.5m)

• Four substantial acquisitions, Cabinet Stewart, Odyssey, Pavilion and
Amaze completed

• Acquisition of Politics International, a leading London based Public
Affairs consultancy in February 2008


* Comparative figures for 2006 represent results from the ten months ended 31
December 2006.


Rod Hyde, Chief Executive, said:

'During 2007 we continued to develop rapidly with a particular focus on our
public affairs and digital capabilities.

'The Public Affairs and Corporate Communications division made significant
progress with profits increasing by 63%. We also launched an Interel branded
European public affairs network with offices and partner consultancies across
continental Europe to complement our operations in London and Washington.

'The Group has been very successful in growing its digital operations including
acquiring two significant digital businesses. The Digital and Communication
Services division employs around 170 people and on a combined basis is now one
of the top 10 UK interactive agencies.

'The current year's trading has started well with a number of key project wins.
We remain confident of another successful year, particularly given the high
visibility of earnings.'

............................................

[allstar117] 10/3/2008 07:47

Many thanks PP

[papalpower] 10/3/2008 04:14

allstar, just a bit of code.

If you are using IE

Go to "View" at the top, then on the drop down menu "source".

This will show you all the "code" of how the page is made up.

You can then find the piece of "code" that refer to the two arrows, and copy them over to the thread you want to use them on.


I will put the code into this post, so its easy for you to find.


Skip the header, go to the posts click the arrow -

Jump back to the top of the header click the arrow -

[allstar117] 09/3/2008 17:15

Papal, Could you possibly let me know how you put these arrows into the thread please? They look very handy and I'd like to add some.

[allstar117] 17/11/2007 11:02

Many thanks Papal, personally i'm envisaging price hike in Jan/Feb period, definitely keeping close eye on this.

[papalpower] 17/11/2007 03:48

Yep, long term here.

The drop will be, imv, purely that this is a low profile and illiquid share, that does not take away from its performance, so one to hold, as with many of this type of share, eventually it will either re-rate or get taken out with a nice high price bid.

[allstar117] 17/11/2007 02:24

Hi Papal, i was just wondering whether you are still in this share as i am thinking of buying in & wondered if you had any thoughts as to the drop in share price and when we could have the deserved re-rating here?

[rampmeister] 10/7/2007 15:12

Rovers goal for Connectpoint

CONNECTPOINT PR has netted itself a new client after being appointed by Blackburn Rovers to manage for the club's off-field media activity.




RM

[rampmeister] 03/7/2007 07:48

Akzo Nobel awards Connectpoint more PR business



RM

[rampmeister] 27/6/2007 09:28

Looks like HGV expansion continues apace. Connectpoint, the advertising and PR division of AIM listed Hasgrove plc, has added five staff to its operation in Manchester: two in advertising and three in PR.



RM

[lob_on] 17/5/2007 22:56

On financials alone, it looks just a matter of time before the highly acquisitive pan-European communications group Hasgrove (HGV) attracts attention. The marketing and communications group raised £6.25 million on AIM last November, but is already swimming with cash. Its clients, such as the BBC, Marks & Spencer, Nokia and Diageo, are global brands increasingly looking for consistent Europe-wide solutions.

[onlyfoolspoker] 09/5/2007 01:20

good stuff

am hopeful the video will make it easier for people to not only understand the company but understand why it is a decent investment

[papalpower] 09/5/2007 00:51

It is quite an exciting prospect :)

I have added the video link to the header.

[onlyfoolspoker] 08/5/2007 19:22

Have bought into HGV

I think it would be great to add this link to the header:



for those who haven't watched, this is one of the best business presentation videos I have seen and clearly outlines near enough everything about the company and how Interel/The Chase/Connectpoint link together.

Taking a quote from PaypalPowers header

"Hasgrove operates through 3 well-established independent brands"

This is what I have been looking into and what I found after a quick look tipped the scales for me. Having established, successfull brands (10yrs+) is immensely valuable and taking a closer look at the client lists only increases confidence...

The Chase - Marks & Spencers/Diageo/CIS Insurance/The Football League/BBC/Yellow Pages/Fujitsu (plus others)

Connectpoint - Matalan/Moneysupermarket.com/BMW/Next/MUTV/Vodafone (plus others)

The fact they are going to be paying a divedend for the year to Dec 07 just shows their confidence of future success imo

[papalpower] 06/5/2007 06:24

The GCI April update is below :




Hasgrove - STRONG BUY

Companies: HGV

12/04/2007
Progress has been maintained at Hasgrove, the pan-European marketing and communications counter recommended here at 144p in February.

The Manchester and Brussels-based group joined AIM with a £6.25m funding at 120p in November and subsequently impressed with preliminary numbers for the ten months to December 2006, delivering strong sales and profits surges for a transformational 2006. On a 200% plus revenue rise to £15.3m, pre-tax profits powered ahead by 156% to £1.8m, with earnings surging 74% north to 9.2p – the year-end balance sheet was flush with £3.5m of net cash.

Readers may recall Hasgrove is the holding vehicle for a diverse batch of niche, though profitable and highly cash generative, ventures providing services across the public affairs and PR markets, as well as in advertising, graphic design and digital online marketing.

The three core brands are Connectpoint, The Chase, and Interel, the European public affairs and corporate communications consultancy that works with clients like Cisco, Weight Watchers and Shell and which has been benefiting from a burgeoning number of multinationals headquartering in Brussels. Recent acquisition Cabinet Stewart has proved highly complementary to Interel and given Hasgrove a leadership position in the fast-growing EU public affairs consultancy market.

Boasting balance sheet strength as well as a profitable portfolio of businesses, Hasgrove has acquisition targets in its sights and says investors can expect a maiden dividend from results for the year to December 2007. Based on forecast profits of £3.4 million and 12.1p of earnings for 2007 – numbers now looking decidedly conservative – the shares are swapping hands for less than 13 times estimated earnings. That's undemanding and we remain fervent fans. Keep buying.

[nig295] 04/5/2007 14:01

Tipped again as a buy in GCI this AM. No write up just a reiteration of the buy tip in March so jumped in for another 1200, would be more but there is nothing else I want to sell to fund it. :-)

[papalpower] 16/4/2007 12:51

HGV is cheap really.....so perhaps just some buyers taking more stock, simple as that.

[nig295] 16/4/2007 12:02

Any reason for the recovery today? I can not see one or did some of you expect it?

[allstar117] 10/4/2007 23:50

Ok thanks for the reply. This share should have a very good run longer term so if you couldn't stay on board at present I hope you'll be back at some point! Obvious profit taking after recent strong results.