Havelock Europa Share Discussion Threads

[goodoldays] 01/2/2018 05:17

Why am I ranting and raving at this time in morning you might ask, because I am an ex employee who worked hard and am now worried about my Pension.

[goodoldays] 01/2/2018 05:14

The Board have had ample opportunities over the past several years to recruit credible experienced senior management from the market place, what do they do? They recruit intellects who could calculate the square root of a jam jar in the blink of an eye but have great difficulty unscrewing the lid!! Why? Ignorance and arrogance!!

[goodoldays] 01/2/2018 05:02

What a shame that one of greats of the shopfitting industry is in this position, it’s not as if other sales and revenue streams could not have been exploited. There has been a distinct lack of strategy and market awareness in the company for several years now. All Havelock has done in this time is to divest itself of assets to keep going. It was a foolhardy decision to sell Showcard Print, as they generated in excess of 2m in profit each year, but they had to sell to reduce their exposure with the Bank. Who on the PLC Board knows anything about Interior Contracting?? I don’t know what security the Bank currently has regarding the facility but they must be worried. I read the current success stories of: Barlow’s, Styles & Wood, ISG etc. Havelocks current position cannot be caused by lack of opportunities in the market place. The problem is purely the fault of the Board and Senior Management, they must be extremely proud of themselves at the moment!!

[killieboy] 31/1/2018 18:10

Where is "greengiant"; hiding away I should imagine!

[goodoldays] 31/1/2018 17:15

Something happening, share price dropping again!!!

[truthful tommy2] 31/1/2018 15:41

Rumors circulating the office staff is that they could be closed by next week. Hope not but only time will tell.

[neverforget] 31/1/2018 15:29

Watch news coming out tomorrow. This is those in the know getting out.

[cvileservant] 31/1/2018 14:56

More depressing news today; if M&S are downsizing, its another client who will not be spending their way out of the recession, H&M admitting profit warning again speaks for the high street withering on the vine. As for todays trading update, did not see one schedule on the HE website, though a ''historic' event in 2013, 2012 etc.
Agree with above that the figures are struggling to stack up, is it time for KPMG to have a dinner date with the FRC?

[steak1] 29/1/2018 22:55

SEPTEMBER 27 RNS CONFUSION
At the Year End Dec 2016 Bank Debt was £2,200,000 Since then there has been a loss for the first half of 2017 of £2,600,000 so you would think that the cash position would be approximately £4,800,000 Bank Debt. However i am wondering wether the £2,200,000 Million of bank debt is the correct average figure. In the Going concern Statement it says the bank overdraft increased from £4,750,000 ( £2,550,000 Increase on 31st December Figure ) to £6,000,000 on the 1st May 2017 this is a increase of £1,250,000 ( the loss in the first half was £2,600,000 ) If you add £4,750,000 to £2,600,000 the figure is £7,350,000 . The current overdraft is £5,000,000 to be reviewed in April 2018 and there has been a further £600,000 introduced.

In light of the select committee on pension looking very closely at the role of pension trustees in the Carillon pension fund. I think pension trustees are likely to become much more robust when there is a pension deficit, I am not sure if pension trustees are personally liable !

The Directors also need to be very careful and are sure that this company is solvent, If the company is trading insolvently they can become liable for the companies debts.

Challenging times

[neverforget] 29/1/2018 20:15

Isn’t there meant to be a trading statement?

[neverforget] 29/1/2018 20:15

Isn’t there meant to be a trading statement?

[neverforget] 26/1/2018 16:44

Life is too short to worry about the 400 employees and the pensions of many more. This company is as good as bust. And it will only get worse in q1

[capricious71] 25/1/2018 17:28

Life's too short to be invested in a company like this. Sorry, that's negative. I hope they do turn it around but it's an industry that has so many overheads, anyway.

[jbarker5555] 23/1/2018 22:11

That refurb cost sounded ridiculous at the time, complete opulence, 'Nero fiddled while Rome burned' comes to mind.
This company needs de-listing, BOD reducing, and getting back to the basics of making money. AIMO :)

[neverforget] 23/1/2018 14:02

And all along the bod and kpmg knew that this stock was worthless but continued to value it. EP kpmg and non execs. This is coming back to you.

[fifeboy] 23/1/2018 11:41

Seems everyday this company is going from great,good, bad, now it looks doomed, investors don’t seem interested the way the company is being run by people whom have no idea of how this once company thrived , if it’s true they have payment plan in op , how are they doing with pension fund of employees

[neverforget] 23/1/2018 10:09

This was all confirmed to me by CK

[neverforget] 23/1/2018 10:02

He knew about it and blew a fuse and then suddenly the stock policy was changed. CK was the one that corrected it but it was EP that was culpable. Also was made known to David Walton at Hargreaves and Jeroeme at deep value.

[my retirement fund] 23/1/2018 08:52

The only civil action round here your likely to see will be at the car dealers. You know where that guy from the airfields buying himself a new Porche and his wife a Range Rover etc.

[goodoldays] 23/1/2018 08:33

If AB knew of this and made the statement as quoted then surely he is culpable if he did nothing about it at the time!!

[neverforget] 23/1/2018 07:41

Mabe he knows that the BOD deliberately overstated the balance sheet by not writing down the stock and continued to value it at 100%.

I remember AB telling me that this was a hedged bet that he would bring civil case against EP, DmcC, RS, AK and KPMG for falsifying company statements.

[cvileservant] 22/1/2018 17:34

Perhaps AB is wise to Scots Law, and the right to persue other Directors for their loss, and the reinforcement of failure may actually be levering a bigger dunting when the time comes. Now that HB is back on the board, anyone running a sweepstake on the excuses in this years accounts - bad weather in Dumfries and Galloway schools again, or spilt guiness on the road?

[clocktower] 22/1/2018 10:41

LOL - Nobody talked about an "investment" but a punt - red or black.

[biggerpicture] 22/1/2018 09:54

I think you’ve just missed better opportunity to “invest” as you should have invested in Carillion