Haynes Publishing Share Discussion Threads

[wad collector] 28/10/2019 13:11

Also thanks.
Finally , after 13 yrs , reached my buying price. Patience...

[nfs] 25/10/2019 22:41

Thanks NC, very helpful

[aleman] 25/10/2019 11:58

Some interesting questions and answers there. Thanks.

[norbert colon] 25/10/2019 11:40

My notes of the recent AGM:https://cube.investments/haynes-publishing-group-hyns-agm-report/Thanks to the management team for not only transforming the business over recent years and carefully and cleverly stewarding the iconic Haynes brand but also openly answering my many questions.

[topvest] 06/10/2019 16:05

Yes, interesting. It just goes to show how long turnarounds take in reality...years! I suppose the original business hasn't really turned the corner, but the business has morphed into something more relevant to the digital age!

[norbert colon] 06/10/2019 07:44

When you look at the chronology of the business it's interesting to note that the turnaround has actually taken nearly 12 years starting with the acquisition of Vivid (HaynesPro) in 2008 but I agree that current management (led by J Haynes and James Bunkum) should be congratulated for their energy and vision in driving the Group over recent years.2008 - Haynes Publishing Group P.L.C. acquired the entire share capital of the Vivid Holding BV Group based in Soest, Holland.2009 - The UK business sold its UK print operation2011 - First Haynes Manual online launched in the US2012 - Vivid Automotive rebranded as HaynesPro2013 - Restructuring of UK business announced in September - Acquisition of Clymer and Intertec Manuals in the US2014 - UK distribution outsourced2015 - Haynes Publishing Group P.L.C. acquired the entire share capital of Teon Media Limited2016 - Group Operational & Cost Review led to outsourcing of group printing and US distribution operations in Nashville and closure of Haynes Nordiska (Sweden)2016 - Haynes Publishing Group P.L.C. acquired the entire share capital of OATS Limited2017 - The Group acquired the E3 Technical business

[topvest] 05/10/2019 20:18

Great to see Haynes come back so strongly. Well done to the Haynes family for reinventing themselves!

[norbert colon] 04/10/2019 17:25

I’ve got profdoc to thank for alerting me to Haynes initially although I had been aware of the business for many years.

Initial purchase around 107p in Dec 2015 and have averaged up to it being my largest holding at nearly 20% of PF with average price of 170p.

No reason why the rerate shouldn’t continue although there may be some resistance up to 400p based on the chart.

Can’t imagine many trading this stock though!

Ongoing multibagger.

[wad collector] 04/10/2019 14:43

That is a rather impressive chart ;300% in 4 yrs if you bought at the nadir.

[wad collector] 30/9/2019 15:42

And also them being more protected by the A shares if financial problems occur with the company ; there was a review of this much earlier in this thread.

[norbert colon] 30/9/2019 14:09

Wad

Yes valid point and my earlier articles on the Cube website touched on some of those points.

I am aware that AutoData (Haynes largest competitor in the professional segment) not only have a clear longstanding foothold in the UK but are very active in developing their own professional offering so investors need to inform themselves as to the competitive marketplace.

The E3 Technical acquisition has given Haynes a foot in the door with respect to the UK market so that is just one of many positives.

I don’t see any major changes to the 9m ‘A’ shares owned by the family. J Haynes (CEO) has a young family and I’m sure he intends for his holding to remain in the family. The family were also the benefactors of John Haynes stock when he sadly passed away recently. It's worth reviewing p.44 of the Annual Report which shows John Haynes (JH Haynes) share ownership is now under the jurisdiction of JHC Haynes (CEO) either by direct ownership or via him as trustee.

The large family ownership does of course preclude the likelihood of a takeover.

[wad collector] 30/9/2019 13:15

Interesting article , though trouble with financial data analysis is that it doesn't look at real world business factors. Like what the other competitors in the data business are planning, and what the directors might do with their A shares.
Hope your optimism prevails..

[norbert colon] 28/9/2019 13:40

My latest thoughts:https://cube.investments/haynes-publishing-group-firmly-in-top-gear-hyns/

[norbert colon] 25/9/2019 13:45

If you look less than 2 yrs into the future, assume forecast numbers of 29.9p EPS for FY21 are met then apply a modest multiple of 15x for a growing automotive data business you get a share price of 450p.The turnaround since 2016/17 has been remarkable and despite sales of printed automotive manuals declining still, it's the professional business that investors need to take a close look at to understand the growth strong that still has a long way to run.

[wad collector] 25/9/2019 13:32

Wow 11 yr high. Shame I have held 15 yrs , but one day might be back in the blue if you ignore 15yrs inflation.

[aleman] 16/9/2019 11:28

Thanks, NC. It's a very positive sounding interview. I note he said they might "tweak" the dividend up but are saving money for the many exciting opportunities ahead.

[topvest] 16/9/2019 11:03

Nice to see Haynes starting to bounce back and fighting technological change in a winning way...thought that they were doomed, but maybe not!

[norbert colon] 16/9/2019 11:00

https://www.proactiveinvestors.co.uk/companies/news/902745/haynes-publishing-reports-third-successive-year-of-revenue-and-profit-growth-902745.html

[norbert colon] 15/9/2019 22:35

Some IC coverage but light on detail:https://www.investorschronicle.co.uk/tips-ideas/2019/09/12/haynes-prompts-upgrades/

[norbert colon] 14/9/2019 14:01

https://www.ii.co.uk/analysis-commentary/stockwatch-defensive-stock-recession-ii509190

[wad collector] 12/9/2019 13:26

I guess the answer to the dividend stagnation needs to be seen in the context of a sum that has not changed in the last 6 yrs , even when they were losing money fast.
Happy to see it go into capital growth for now.

[gleach23] 12/9/2019 12:16

I wondered the same aleman.

Lovely update though. Nice steps to the chart too. Not much stock about at current spread of 236-242 so hopefully we can take out last year's highs of just under 250 in the very near future.

[arregius] 12/9/2019 10:54

You mean why they dont increase div? I believe they will do so when the investments they are making now to grow the business is a much better way to give us the returns. Div will increase when all that leveraged

[aleman] 12/9/2019 09:23

Very good results. But why no dividend increase when the cash balance has jumped?

(Edit - typo corrected from do to no.)

[arregius] 31/7/2019 12:42

I am a shareholder since today.