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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Henderson European Trust Plc | HET | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.50 | 0.29% | 174.00 | 16:35:24 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 174.00 | 172.00 | 174.00 | 174.00 | 173.50 |
| Industry Sector |
|---|
| UNKNOWN |
| Announcement Date | Type | Currency | Dividend Amount | Ex Date | Record Date | Payment Date |
|---|---|---|---|---|---|---|
| 20/05/2024 | Interim | GBP | 0.0305 | 06/06/2024 | 07/06/2024 | 28/06/2024 |
| 13/12/2023 | Final | GBP | 0.0305 | 04/01/2024 | 05/01/2024 | 05/02/2024 |
| 22/05/2023 | Interim | GBP | 0.013 | 01/06/2023 | 02/06/2023 | 27/06/2023 |
| 08/12/2022 | Final | GBP | 0.0315 | 05/01/2023 | 06/01/2023 | 06/02/2023 |
| 08/12/2022 | Special | GBP | 0.005 | 05/01/2023 | 06/01/2023 | 06/02/2023 |
| 23/05/2022 | Interim | GBP | 0.012 | 01/06/2022 | 06/06/2022 | 27/06/2022 |
| 08/12/2021 | Final | GBP | 0.235 | 06/01/2022 | 07/01/2022 | 04/02/2022 |
| 26/05/2021 | Interim | GBP | 0.096 | 03/06/2021 | 04/06/2021 | 25/06/2021 |
| 10/12/2020 | Final | GBP | 0.217 | 07/01/2021 | 08/01/2021 | 05/02/2021 |
| 28/05/2020 | Interim | GBP | 0.096 | 04/06/2020 | 05/06/2020 | 26/06/2020 |
| 10/12/2019 | Final | GBP | 0.217 | 09/01/2020 | 10/01/2020 | 07/02/2020 |
| Top Posts |
|---|
Posted at 12/10/2024 10:32 by thamestrader Four weeks in and here are the scores on the doors in my simplistic little tournament.JEGI: -2.7% (+3.3% YTD plus 4.1% yield = 7.4%) FEV: -3.4% (+4.8% YTD plus 2.1% yield = 6.9%) Artemis OEIC: +1.8% (+16.7 YTD) HET: -0.6% (+1.1% YTD plus 2.3% yield = 3.4%) EUE: +2.7% (+6.2% YTD plus 2.5% yield = 8.7%) Europe isn't a happy place right now, and tbh all but the OEIC and EUE are on the danger list. FEV already dumped and will be removed from the contest. BGRE was not included as I only recently dumped it following lacklustre performance. No doubt it has done well, but I haven't looked. |
Posted at 29/9/2024 20:56 by spangle93 Thamestrader - BRGE would be another obvious comparison point in your unofficial contest. I found that FEV, HET, and BRGE all held Novo Nordisk and ASML as their two top contributors.It would also be interesting to add a couple of smaller company focused trusts, such as MTE, ESCT,or JEDT, to see whether there is a systematic disconnect |
Posted at 29/9/2024 11:51 by thamestrader So, two weeks into my European fund/trust fight-off:JEGI: -0.7% FEV: 0% Artemis OEIC: +1.4% HET: +1.7% EUE: +3.5% Obviously two weeks' data means very little, and over the longer term, I suspect my biggest holding, Artemis (17% YTD) will thrash the others (EUE 7.5%, HET 3% plus divis). |
Posted at 15/9/2024 11:56 by thamestrader This has not got off to a flying start since its re-birth as HET. While Europe in general has been lacklustre recently, others funds & trusts do seem to be faring slightly better.As well as HET, I also hold an Artemis OEIC plus an iShares tracker (EUE). This week I added FEV and JEGI, making me overweight in Europe. Unless the region goes into hyperdrive in the next few weeks, I will restore the balance by dumping whichever I consider weakest. At the moment they would be HET and EUE, but watch this space. |
Posted at 19/8/2024 19:45 by spangle93 Henderson European (HET)Rating: Positive At the start of July, Henderson European Focus Trust and Henderson EuroTrust merged to form a combined trust called Henderson European. The enlarged trust is on a slightly wider discount than the sector average at 10% versus 7.3%, which Stifel reckons is ‘fair’ giving the imminent retirement of Citywire + rated manager John Bennett at the end of this month to focus on chairing Rangers Football Club. He has presided over a 77.7% share price total return over five years, according to Deutsche Numis figures. ‘We’ll keep a close eye on performance under the newly combined team,’ said Stifel. |
Posted at 19/8/2024 08:20 by thamestrader I have created a new thread, with charts, under the HET. |
Posted at 19/8/2024 08:19 by thamestrader New thread for the former Henderson European Focus Trust (HEFT) which is now the Henderson European Trust (HET), following its merger with Henderson EuroTrust. Enjoy! |
Posted at 18/8/2024 19:43 by steve3sandal1 So by some oddity this old thread has not been used since 2006 for a share with a ticker of HET. It's now tracking the share price of Henderson European Trust formerly Henderson European Focus Trust . I do t know how to add share price charts or news. Any help gratefully received. |
Posted at 24/4/2006 20:17 by goonertone As I stated earlier I was about to set up a new HET thread when JTC set this one up. Just out of interest I have posted the opening summary that I was going to use. Its a bit longwinded so please feel free to skip itHET - is it beauty or the beast? Home Entertainment Corp was originally the owner of the Choices chain of video shops which has now evolved into a business that still owns the choices stores, numbering 220 but also a fulfilment business offering stock management and distribution services to businesses both small and large. The Beauty is the fulfilment business The Beast is the retail side Market Cap is currently £12 mill HET shocked the market in November 05 with a profits warning stating that a loss of £3.3 million before tax would be incurred for the first half of 06 due to poor high st trading, stock write offs and exceptional costs relating to the setting up of a choices tv channel on sky. HET now has the following divisions: ChoicesUK local provides a fulfilment services to small convenience stores acroos UK and ROI ChoicesUK direct incorporates website sales and fulfilment services to bigger companies ChoicesUK TV selling directly to the public via sky TV ChoicesUK stores operates 200+ stores renting videos/dvds and selling dvd's, computer games/hardware, mobile phones Mosaic own rights to a small number of dvd titles The question is why invest now in a loss making company who's shares have been in decline since 2002. Bull Points Fulfilment Business is profitable, secure and growing Rental is a declining part of the product mix Andromeda Ent brought from receivers to bolster fulfilment division Trading statement and interims both stated retail now profitable Cashflow positive Expansion of fulfilment business via purchase of goodwill & assets of Andromeda Ent Cost cutting exercise to be completed ahead of schedule to the tune of £2mill per annum. Imminent uptake of blu-ray/HDdvd Bear points Retail is weak currently Internet rentals eroding high st business DVD Piracy Advent of downloadable films There are other bull and bear points but these are the main ones and one that could be either(Peter Gyllenhammer) Below is a posting I made a while back that sums up most of my thinking on HET: Is HET worth £1.50? On current results no but then I'm in this at the moment on a momentum/stock squeeze play but I was originally looking at getting in on a recovery play. The question is recovery from what? A terminal decline in turnover but managing to streamline ops to revive profits or a one off rebranding and refocusing of the business to return to growth and profitability? 18 million shares at 1.50 would give a market cap of £27 mill. Say PE of 10 then profits before tax(ignore available losses etc) need to be £3.9 mill approx. Is this achievable? Leaving out the download and blu-ray arguments( ie any loss from current formats can be replaced by new formats) then it is nigh on impossible for 2006 but if the finals show a return to profit in the second half then 2007 is a distinct possibility that this can be achieved. Lets look at the profit centres based on info in the interims. Mosaic Lets just stick with what weve got £100k profit for year. Choicesuk local £860k on 8000 outlets with ROI growing rapidly. Roughly equates to £20k per annum per outlet. There were 250 extra outlets in 28 weeks to 17th Dec. Say 250 more for second half and average of 250 for 2007(ie 500 for year spread evenly) therefore 8500 @ £20k = £1,700,000. Choicesuk Direct £670k in 28 weeks to 17th Dec. A period which included the internet business adversely affected by delay in launch. Once up and running growth to continue and 3rd party agreements to expand on. This appears to be the current business driver both through the internet and more importantly the managing and fulfilment of third party businesses. These additional third party arrangements should give income from fees etc without the costs of investing in stock . Lets say slight growth in second half and then 15% growth in 2007 as internet site and third party agreements kick in. £1,300,000 + 15% = £1,500,000 Choicesuk TV Set up cost below budget and written off as exceptional in 1st Half of 2006. Agreements in place to run third party channels thus earning fees to set against running costs and thus reducing risks of incurring losses. Expect to make profit in 2007. Finger in the air on this but say £500k Choices UK Stores Now for the problematical one. £1.5 mill loss in 1st half but now restored to modest profitability. Rebranding would now appear to be near the end and the improvement in like for like performance towards the end of the half was greatest in the restyled stores. Once the remaining 10 stores that have been earmarked for closure have gone there is £500k of savings per annum. However as has been stated mild winter, a hot dry summer and the world cup could adversely effect the stores more than the other parts therefore I will err on the side of caution and say break even for 2007(though I think with luck with good mgmt and mix of products £100k per store is possible or £3 mill) Therfore we have £100k + £1,700k + £1,500k + £500k + £0 = £3,800k The above figures do not take account of the £1 million in overhead savings for 2007 stated in the interims. These appear to be for savings in admin and ending of leases and not inclusive of savings from redundancies in the warehouse. 20 staff at £20k plus ni and admin would be another £500k but as there is no proof that these aren't included in the £1 mill I will ignore them Finally cashflow is stated to be positive in H2 and in 2007 therefore interest due should fall back to previous levels. To be prudent include a further write off of obsolete stock say £500k Therefore we have operating profit of £3.8 + £1.0 = £4.8 mill less exceptionals of £500k and interest of £250k = profit before tax of £4.05 mill. So in conclusion with a lot of what ifs and maybes yes it can be worth £1.50 per share and if they can turn a profit from the high st outlets (personally I think my break even is far to low based on them already appearing to have turned them back to profitability) then £2.00 plus is achievable. This is the bull argument, rose tinted glasses etc but the question was can it be worth this and the answer from the most recently available evidence would appear to be yes All comments, derision etc welcomed. GT |
Posted at 11/2/2006 11:06 by pjetr The discussion about the long term potential of HET is valid, however who knows who will be right and who will be wrong? And does it really matter to decide whether the current share price represents value or not?Some thoughts on the future 1. Yes, in 10 years time (2016) we can be pretty sure that a lot of people will be simply downloading their movies and games (through PC, TV, PS3 or 4,... connected to sky or google etc).But it won't happen overnight: there are many many technical and commercial hurdles. 2. Note that 'filmed entertainment' sales have Never In History been so high as today (in volume that is). Everybody's buying series on DVD like Lost, The Office etc etc (even Knight Rider is available). New technology presents threats but also opportunities. 3. Music 'sells' (and is shared) well online, but what about e-books? People are talking about them for many years already, but 100% of the population is still buying paper books. My point is that it's not because one category works online, that all categories will work online... Anyway, I think it's fair to say that selling movies and games in a disc-format will not go on forever, but will AT LEAST continue for 3-5 years. Is there value in HET? For the first time, HET provided operational results per division in their 1st HY results. 1st Half 2005-2006(000) ChoicesUK Local 860 ChoicesUK Stores -1540 ChoicesUK Direct 670 Mosaic 55 ChoicesUK TV -830 The results were clear about the 2nd half: Stores are back to profitability (modest), and the TV losses will soon turn into profits. 2nd half can get these BACK-TO-NORMAL results I'd say (I assume no profit growth for Local, Direct & Mosaic, modest profitability at Stores & TV): ChoicesUK Local 860 (same) ChoicesUK Stores 300 (modest profit) ChoicesUK Direct 670 (same) Mosaic 55 (same) ChoicesUK TV 100 (first time profit?) = almost 2 million of EBIT profit On a full year basis this would 4 million of EBIT, which gives 3 million NET (assuming 25% tax rate, no interest payments). Current market cap is 12 million ---->> P/E of 4. What HET needs to do 1) Prove that it can effectively make 2 million EBIT in 2HY. HET needs to show that they can get their business back to normal. 2) Investments in stores, stock etc must be kept as low as possible. Profits + Depreciation should be almost equal to Free Cash Flow. And they need to pay out the FCF as dividends. No use re-investing a lot of profits in a business that will eventually disappear. My conclusion HET must prove it can make decent money the coming 3-5 years, and show its commitment to returning all generated cash back to shareholders. If they do, the value of 1 share is at least 80-100p, imho! (FCF per share: 15 p, during 5 years, + terminal value generated by sale of leaseholds etc). |
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