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| 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% | 188.00 | 403,213 | 16:14:26 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| 186.00 | 188.00 | 188.00 | 187.00 | 188.00 | |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| - |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| 16:35:27 | O | 325,000 | 187.50 | GBX |
| Date | Time | Source | Headline |
|---|---|---|---|
| 15/7/2024 | 14:48 | UK RNS | Henderson European Trust Plc Net Asset Value(s) |
Henderson European (HET) Share Charts1 Year Henderson European Chart |
|
1 Month Henderson European Chart |
Intraday Henderson European Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 09/6/2006 | 13:44 | HET to Hit 150p in 12 months | 151 |
| 14/5/2006 | 23:47 | Co's with small free floats of shares | 2 |
| 25/4/2006 | 14:20 | a | 293 |
| 27/8/2003 | 12:51 | Nepotism - The strong smell of - Home Entertaiment Corproation | 3 |
| 28/4/2003 | 20:25 | Shuffly retiring | 1 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|---|---|---|---|
| 2024-07-15 16:15:00 | 187.50 | 325,000 | 609,375.00 | O |
| 2024-07-15 15:35:27 | 188.00 | 12 | 22.56 | UT |
| 2024-07-15 15:29:55 | 188.00 | 24 | 45.12 | AT |
| 2024-07-15 15:29:25 | 188.00 | 2,243 | 4,216.84 | AT |
| 2024-07-15 15:14:26 | 188.00 | 2,427 | 4,562.76 | AT |
| Top Posts |
|---|
Posted at 28/5/2006 22:00 by goonertone JTAMU & HET sorry for the delay. Tough one. Some parts of each have synergies but the high street part of choices stands out like a sore thumb. Would I want the unpredictable nature of the high street stores to impinge on the steady solid distribution business of AMU. I supppose it depends on your view of the benefits of the benefits from the the cross selling of the locals business of HET with the distribution business of AMU. They would appear from first glance to be fairly seperate client bases but with similar size profiles. You could possibly put a small sales area in each high street store as long as you didn't try to make it into a CD emporium. More of a rent a romantic film buy a cd of lovesongs for afterwards type of thing. If nothing else was done either HET sells mosaic to AMU or AMU sells maximum ent to HET as I think each of them on their own are to marginal to the main business to make it worthwile. Could well be a case of sum of the parts etc. I wouldn't want to see it until we know where the high street side of HET is going. If that has stabilised then their might just be some mileage in the idea. GT |
Posted at 23/5/2006 17:17 by goonertone Share OptionsRNS Number:4560D Home Entertainment Corporation PLC 23 May 2006 HOME ENTERTAINMENT CORPORATION PLC (the "Company") 23 May 2006 Share Options The Company was informed today that Anthony Skitt has renounced 182,500 share options, issued under The Home Entertainment Corporation PLC 2001 Executive Share Option Scheme, with an exercise price range of between 168.5p and 222.5p per share, exercisable in tranches between 24 October 2004 and 27 October 2013. Anthony Skitt has been issued 300,000 new options over ordinary shares, issued under the above Scheme, with an exercise price of 78.5 pence, exercisable between 23 May 2009 and 23 May 2016. He now holds a total of 300,000 options over the ordinary share capital of the Company. Christopher White has renounced 37,500 share options, issued under The Home Entertainment Corporation PLC 2001 Executive Share Option Scheme, with an exercise price range of between 168.5p and 222.5p per share, exercisable in tranches from 24 October 2004 to 27 October 2013. Christopher White has been issued 100,000 new options over ordinary shares, issued under the above Scheme, with an exercise price of 78.5 pence, exercisable between 23 May 2009 and 23 May 2016. He now holds a total of 100,000 options over the ordinary share capital of the Company. I would have liked the strike price to be a little higher but to make any meaningful money from these options they still need to get the shareprice well north of its current position. GT |
Posted at 24/4/2006 21:17 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 31/3/2006 14:05 by she-ra Rights issue to fund aquisition of Silver Scrren? Thats the last thing shareholders need. Maybe someone will pump HEC to get the share price up so that it can offer shares. Ive seen it done before with other companies before they make an aquisition-suddenly they are getting stalked share price increases then they make an aquisition. |
Posted at 12/2/2006 21:07 by michaelmouse she-ra - I've already addressed your question. The historic p/e (last 7 years) is around 4. IMO the shares are and were oversold and hence my interest. I'm not looking to hold these shares for 10 years but the bad news is already in the price. In 2002 I bought shares in Big Food group for 39p. If I remember correctly at one point the shares fell so that the were trading at a market cap around 1 weeks sales. I also seem to remember that BFG carried far more risk because of its gearing. However, the company began to recover and the share price shot up to circa £1.80 and I believe it eventually succumbed to a bid by Baugur (around £1). IMO BFG was in a far worse position in every way than HET but it had clearly become ludicrously undervalued. There are many such examples. If you are short on HET then good luck but I am a patient investor and prefer to be a holder. Cheers. Michael. |
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). |
Posted at 09/2/2006 14:57 by bletherer I have a suspicion the ticks up are more a delayed reaction to 2 days ago - it was quite fantastic that buys of 1.2million did not impact the price as these must now be in very short supply. The thought occurred to me then that MM's might prefer to walk it up in dribs and drabs to avoid a stampede and a wild spike. Whereas a rising share price should, other things being equal, attract more sellers and fewer buyers, a rapidly rising share price can have the opposite effect in the short term, inspiring momentum buyers and discouraging sellers, who think it will go higher. Just a theory, but you must admit it's pretty hard to explain why buys of a few thousand have an apparently bigger effect than buys of over a million. |
Posted at 14/12/2005 09:11 by siwel100 Almost overlooked is the current £20 million of console games being sold by HET, an area where they are already seeing increased sales. Next year has the full release of the next generation XBox360 and PS3 games consoles. Fatter margins and good hardware demand will feed through for HET, not to mention increased game rentals as new console owners test out the new games.Although like most retailers they are concerned by dvd piracy, the new copy protected DVD formats are coming out next year, HD DVD and Blue-Ray. The consortium behind the HD DVD format has already flagged it is eager for Chinese production to push the price of new machines down and the Blue-Ray consortium includes Sony and their new PS3 machine which will be a Blue-Ray DVD machine, 200million of which will be sold in the coming years. Of itself it may all be a little obscure in relation to HET but with all the Studios signed up to release DVD's on the new formats, piracy will become increasingly a thing of the past. Much mentioned is the "home delivery" option much advertised by numerous suppliers this year. Already there has been a tightening in the offer by many of the new suppliers with restrictions to a certain number of rentals per month.This increase in the cost of the offer together with the normal postal delay for reciept, should curb the penetration of this "concept" Further into the future is video on demand. This is more difficult to establish as a real threat to HET's DVD rental business, not least because the time frames are unknown and there will be a considerable technical investment by the user to actually use any potential service. Whtever develops it will have to compete with the almost total penetration of DVD players and low rental costs to customers. No one may be safe in a fast changing technical world, but HET has proved to be nimble and although this has been a very poor year for them including the transition costs to full DVD with a substantial write down on VHS stock, the company is adapting well and at current prices, the share price shows a substantial discount to worth not least because of the 11% dividend on offer and the commitment by the company to a steadily increasing dividend. |
Posted at 13/12/2005 14:59 by siwel100 Almost overlooked is the current £20 million of console games being sold by HET, an area where they are already seeing increased sales. Next year has the full release of the next generation XBox360 and PS3 games consoles. Fatter margins and good hardware demand will feed through for HET, not to mention increased game rentals as new console owners test out the new games.Although like most retailers they are concerned by dvd piracy, the new copy protected DVD formats are coming out next year, HD DVD and Blue-Ray. The consortium behind the HD DVD format has already flagged it is eager for Chinese production to push the price of new machines down and the Blue-Ray consortium includes Sony and their new PS3 machine which will be a Blue-Ray DVD machine, 200million of which will be sold in the coming years. Of itself it may all be a little obscure in relation to HET but with all the Studios signed up to release DVD's on the new formats, piracy will become increasingly a thing of the past. Much mentioned is the "home delivery" option much advertised by numerous suppliers this year. Already there has been a tightening in the offer by many of the new suppliers with restrictions to a certain number of rentals per month.This increase in the cost of the offer together with the normal postal delay for reciept, should curb the penetration of this "concept" Further into the future is video on demand. This is more difficult to establish as a real threat to HET's DVD rental business, not least because the time frames are unknown and there will be a considerable technical investment by the user to actually use any potential service. Whtever develops it will have to compete with the almost total penetration of DVD players and low rental costs to customers. No one may be safe in a fast changing technical world, but HET has proved to be nimble and although this has been a very poor year for them including the transition costs to full DVD with a substantial write down on VHS stock, the company is adapting well and at current prices, the share price shows a substantial discount to worth not least because of the 11% dividend on offer and the commitment by the company to a steadily increasing dividend. |
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