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HET Henderson European Trust Plc

173.00
0.00 (0.00%)
Last Updated: 15:25:50
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Henderson European Trust Plc LSE:HET London Ordinary Share GB00BLSNGB01 ORD 5P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 173.00 235,192 15:25:50
Bid Price Offer Price High Price Low Price Open Price
172.00 173.50 173.50 173.00 173.00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Unit Inv Tr, Closed-end Mgmt 79.72M 75.29M 0.2285 8.23 570M
Last Trade Time Trade Type Trade Size Trade Price Currency
15:31:31 O 2,400 172.60 GBX

Henderson European (HET) Latest News (1)

Henderson European (HET) Discussions and Chat

Henderson European Forums and Chat

Date Time Title Posts
12/10/202410:32Henderson European (Focus) Trust5
19/8/202410:40HET to Hit 150p in 12 months154
14/5/200622:47Co's with small free floats of shares2
25/4/200613:20a293
27/8/200311:51Nepotism - The strong smell of - Home Entertaiment Corproation3

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Henderson European (HET) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
15:31:32172.602,4004,142.40O
15:00:13173.00300519.00AT
15:00:13173.00318550.14AT
15:00:13173.00142245.66AT
15:00:12173.002,0003,460.00AT

Henderson European (HET) Top Chat Posts

Top Posts
Posted at 21/11/2024 08:20 by Henderson European Daily Update
Henderson European Trust Plc is listed in the Unit Inv Tr, Closed-end Mgmt sector of the London Stock Exchange with ticker HET. The last closing price for Henderson European was 173p.
Henderson European currently has 329,477,301 shares in issue. The market capitalisation of Henderson European is £619,417,326.
Henderson European has a price to earnings ratio (PE ratio) of 8.23.
This morning HET shares opened at 173p
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 11/2/2006 15:01 by bletherer
Pjetr - basically agree with your analysis although I think if HET can even make a profit of the level you are talking about for one year its share price will at least double.

Though she-ra is getting a lot of knocking on this BB the current share price is backing his/her argument: no company would be priced this far below book value unless "the market" thought that the slide into losses was not just a blip, but rather part of an irreversible decline. The interims clearly implied that a return to profitability later this year is a possibility, but we will have to wait and see whether that in fact materialises - it is not unknown for AIM-listed companies to see the world through rose-tinted specs. Meanwhile any further signs of "shareholder activism" could also (positively) affect the sp, as the city has a well-established habit of rewarding management shake-ups at struggling companies (whether or not it is really the management's fault). With a 20% rise this week there's a little momentum now as well - if the price gets above 65p then the bulls will be firmly in control and a short-term move back to the 90-100 mark would be a very real possibility.
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).
Henderson European share price data is direct from the London Stock Exchange

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