Headlam Share Discussion Threads

[essentialinvestor] 30/7/2020 09:30

Could not call results over the next 12 months, they now have net debt.

[essentialinvestor] 30/7/2020 09:22

Domus write down, remember what I posted at the time.

[srpactive] 30/7/2020 08:34

e What are you expecting tomorrow, just looking here. tia

[essentialinvestor] 29/7/2020 18:40

srp, results are tomorrow, you may already be aware.

[srpactive] 29/7/2020 16:23

jn Hello are you short here?

[essentialinvestor] 28/7/2020 11:23

I've sold my small position this morning as guessing these may be available further down.

[essentialinvestor] 16/7/2020 16:05

76 pence I first bought this at way back in the day. Life seemed a lot more simple back then.

[aim0raider] 16/7/2020 15:51

I see that and perhaps a big restructure on the way. Reps culled and duplication removed (reps and sites). That will be the point to enter.

[essentialinvestor] 16/7/2020 14:58

I've made this point on other boards, going sooner rather than later may be considerably cheaper, particularly if wider equity markets were to turn lower again. However, all of this is just speculative atm. Let's see. I certainly will Not be adding to a very small holding here at this time, that much I do know! ).

[aim0raider] 16/7/2020 14:52

Many (large)businesses have taken the opportunity to do it sooner rather than later, despite having cash. SIG Plc for example were in a very healthy looking position, but raised a large amount to buffer up. It could be the case here, better to do it early than when the wolves are circling.

[essentialinvestor] 16/7/2020 14:51

Would be pretty stunned if they had a net cash position now, but may be wrong. IF they are planning an equity raise (stress on IF) I would go sooner rather than later. Templeton Franklin appear to be reducing their holding, as a value investment based house that may be a negative sign imv.

[jaknife] 16/7/2020 14:46

The market seems to think that they need to raise though!

[riverman77] 16/7/2020 11:22

I'd be surprised if they needed to raise. They seem to have plenty of cash and a lot of the costs should have been taken out of the business in the short term (eg furloughed staff).

[aim0raider] 16/7/2020 10:35

Thinking we could have a raise on the cards here in order to bulk up the balance sheet. Still don't have Reps on the road, nor deliveries back to 5 days per week, so trying to save cash where they can and clearly bracing for a fall in revenue.

[essentialinvestor] 09/7/2020 19:50

Hi Joe, thanks for the information. Would doubt we've seen a low here fwiw. Bought just a very small amount.

[contrarian joe] 09/7/2020 19:17

Hi EI. These have been on watchlist for a while now,your not to far away from low 190 ish,a big divi cut followed 2009,deja vu 2019,as you would expect they look expensive on next forecasts p/e wise 22. if 2021 numbers are hit (anyone's guess)p/e drops to 8.In between the recessions divi track record excellent,margins are a bit on the low side for a conviction buy for me,debt low at moment with decent Asset value would give me a lot more confidence holding these through the cycle.

[essentialinvestor] 09/7/2020 14:02

I first bought Headlam for 76 pence a share in either 1992 or 93. Hoping we are not going back to those levels!. Forget what the 2009 low point was, might have gone under £2 a share?.

[essentialinvestor] 06/7/2020 15:57

Where is the floor, eh ). Bought a small amount at 2.7144 last week. Would like to know the answer to that question. Having followed Headlam through various cycles, earnings appear to fall somewhere in the region of 60/65% peak/trough - that's from memory, would need to go through the accounts to double check those numbers. COVID is different, with large parts of the economy effectively forced to close. This may remove some competitors?. Significant recent CAPEX outlay on their new distribution centre. Update on current liquidity would be helpful.

[its the oxman] 06/7/2020 00:44

Reasonable business for which there will still be good demand in years to come. Fall seems overdone but where is the floor?

[essentialinvestor] 01/7/2020 12:23

Continuing to slip downwards.

[essentialinvestor] 17/6/2020 15:15

I've known Headlam since 1992/93, although dont have any inside track on the wider sector. To their credit they have navigated multiple previous downturns. Clearly there is a cyclical element to the business.

[jeffian] 16/6/2020 10:24

NOTICE OF ADMISSION TO OFFICIAL LIST The following securities have been admitted to the Official List of The International Stock Exchange with effect from 30 May 2019 at 08:00. Likewise Group plc 341,994 ordinary shares of GBP0.01 each ISIN – GB00BHNWH003 As a result of this additional issue 152,341,994 ordinary shares of GBP0.01 each are now listed on the Exchange. The application was sponsored by Ravenscroft Ltd.

[cisk] 16/6/2020 06:37

How does one buy shares in Likewise? Can’t see them listed anywhere...

[essentialinvestor] 15/6/2020 18:49

Indeed, cant be discounted and appreciate the inside view.