Very cruel comments
They are on track for net zero
Not entirely sure if that’s the share price |
surely he should get a bonus as well :) . Chartwise HEAD looks awful but now close to chart support level in November 2001 - clutching at straws ( wry smile ) |
Don’t worry about the CEO as I’m sure he’ll find a way of getting paid. |
Paying directors nothing is a bit unlikely a champagne socialist bit of nonsense but the point that’s another profit downgrade and a long statement of “intiatives221; that cost a lot does smell o f emperor Nero playing whilst Rome burns. I’m old school. Knuckle down wait for better times and stop with the costly plans. |
Director salaries would cover a lot of that. Pay them nothing until shareholders see results. |
That £2m ni hit will be mitigated through pay cuts and job losses. Headlam lack the pricing power to pass this - which wld be inflationary. This highlights the lack of understanding how biz works amongst this crop of Lab politicians who are no different to the other lot! |
No mention of Trade Counters.
These clowns are making it up as they go along, whilst collecting huge salaries. |
You've got to love a Trading Update (profit warning) that starts with a glowing resumé of progress before dropping the bombshell at the end. Entirely foreseeable, though. |
No improvement except carpet right disappearing |
Opted not to not to declare a dividend !!
Is that ain’t got any money and can’t !!
About time you did an Elvis
( left the building) |
Errrr......no they don't.
"No interim ordinary dividend has been declared (FY 2023: interim ordinary dividend 4.0 pence per share). While we have opted not to declare a dividend this year, our long-term commitment remains focused on delivering shareholder value. The Board will continue to review how the business is performing, taking into account the market conditions and the implementation of the transformation plan, in assessing when it may be appropriate to reinstate dividend payments." |
A bit cruel the more dead than alive
At least they pay a dividend! |
This company is worth more dead than alive |
Does a large warehouse with a fleet of delivery vans make more sense that trade counters with staff rates rent and overhead
If you can waste a contractors time getting him to collect. ?
It’s been years of this a complaining about the market whilst pouring money into plans.
Europe’s side gets no mention at all !
It’s 10% of turnover ! |
The waste is staggering.
Up there with the Government. |
Iiv h. i n nnnnn nnbk |
If it is the warehouse i think it is, the Ipswich facility was only opened about 5 years ago after £ millions spent on it. I am sure there will be a buyer of such a new warehouse, but if HEAD have to take a discount to dispose it could mean a chunky hit to that NAV they keep going on about. |
Two ronnies now live.
Time to blame everyone but themselves. |
If you look at the Going Concern statement, the directors have run a severe downside scenario with further turnover contraction of 15% this coming year. The Company ends up with LESS debt than now.
Gearing - i.e. debt divided by tangible net assets - is currently about 20%.
Assuming some recovery in the housing market, they are likely to move into a net cash position over the next two years. They are intending to realise 70m from sale of surplus property and one-off stock level improvements arising from a re-organisation of their distribution network.
So there's no question of them going bust.
More uncertain is when they might return to break even. They are aiming to cut out 15m of costs in a two year time frame, so that puts them close to break even. Then it's up to whether there's any sales recovery. |
Amazing that folk endure dirty carpets and floors when times are tough |
I think "not going bust" is at the lower end of reasons to invest!
;-)
I have held this for years, mainly as an income stock. Without the divi, it's not very attractive but I haven't got very many so will probably sit it out and see if they can turn it round. |
"Strong cash generation with positive Underlying Operating Cash Flow of £18.0m" |
Reporting a loss as expected, limited indication of any market improvement, recovery uncertain growth expected possibly 2025. Not sure what to make of that because it doesn't look like it's going bust |
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