Heywood Williams Share Discussion Threads

[mattsuff] 22/3/2007 20:43

Being very new to this game and at the moment mainly just paper trading, one of the company's I have been following of late is HYWD. I would appreciate some views on the following question I have.

Normally it seems that this company normally has an average volume of about 300,000 shares traded daily, however today that volume was just short of 9 million.

Does this mean a takeover could be imminent?

Could this be part of some sort of employee share scheme?

Or probably as I suspect, neither of the above!

Thanks.

[mattsuff] 22/3/2007 18:28

Being very new to this game and at the moment mainly just paper trading, one of the company's I have been following of late is HYWD. I would appreciate some views on the following question I have.

Normally it seems that this company normally has an average volume of about 300,000 shares traded daily, however today that volume was just short of 9 million.

Does this mean a takeover could be imminent?

Could this be part of some sort of employee share scheme?

Or probably as I suspect, neither of the above!

Thanks.

[jhan66] 10/11/2006 10:46

The recreational vehicle (RV) market is growing. Recent survey results show shipments of campers and motor homes, from manufacturer to dealer, at a 27-year high, with more than 384,000 products shipped last year. Other indicators support this data; in 2004, the term "RV" was the most searched term on eBay. And the future also looks bright, with projections for 2010 of an 8% growth in American households that own an RV.

......from an unrelated article, but tone is familiar.

[daisymax] 05/11/2006 16:10

Anyone have any comments on the prospectus stating that they are rearranging the company and funds?

[jhan66] 09/8/2006 13:42

is this dip-
my big buying opportunity
low volume price drift, general sentiment
or the start of something sinister

[jhan66] 02/8/2006 07:29

Looking to buy HYWD for first time.
US going well (= 2/3 of OP) UK in decline
slight currency dip, affecting US up to 3%
Pension deficit is £30m. will cost £2m from this years profits & £3m from next seven.
Haven't see any reports yet, imagine they can make £6M pretax & must have some useful losses to offset.
so coming close to my buy price.

director statements about dividends sound helpful though less sure about their aquisition ambitions.

[cockneyrebel] 06/3/2006 08:06

Results well ahead of expectations - going higher imo

CR

[cockneyrebel] 02/3/2006 12:45

All buys today and up 4.5% after that large 110K buy this am.

Still rising.

CR

[cockneyrebel] 02/3/2006 11:54

Creeping up by stealth - reckon there's a decent buyer out there

CR

[cockneyrebel] 23/2/2006 13:12

yep, think they do.

I am thinking that a lot of these deficits are going to fall if markets rise tho. Also they all have to be resolved eventually at a price that leaves the company viable and profitable or else there is no pension for many of them.

Investec seem to have upped their holding from 4% to 14% today.

CR

[arthur_lame_stocks] 15/2/2006 11:57

That said i´ve just had a quick look at their results. Do they really have a 130m pension fund deficit?

[cockneyrebel] 15/2/2006 10:56

Very little 'ramp' in the share price with no posts for 5 months imo :-)

CR

[cockneyrebel] 15/2/2006 10:55

Hey, aren't stocks like this great - no post on here since September!

Despite the company saying results will be ahead and 'over £9m'

Now cash nuetral on the balance sheet.

Amazed nobody is giving this more attention.

RNS Number:6684V

Heywood Williams Group PLC

15 December 2005

15 December 2005

HEYWOOD WILLIAMS GROUP PLC


Trading Update

Heywood Williams Group PLC ("The Group") today issues a regular Trading Update prior to the end of its financial year on 31 December, 2005.

The Group's profits for the year ending 31 December, 2005 will be ahead of current market expectations. The Group now expects to be able to report profit before tax for the year of over £9 million from continuing operations*.

Following one of the most destructive hurricane seasons on record, LaSalle Bristol, the Group's North American specialist distribution business, has experienced strong demand for its building products. According to industry sources, the Federal Emergency Management Agency (FEMA) has placed total orders for approximately 22,000 manufactured houses and 125,000 recreational vehicles to provide short to medium term temporary shelter for displaced people. The expected out-performance of the Group is primarily due to these factors. LaSalle Bristol has responded quickly, with agility and creativity, to meet the increased requirements of its manufactured housing and recreational vehicle (caravan) customers and has played its part in helping to provide rapid and effective shelter for those affected by the hurricanes. Most of the building products LaSalle Bristol distributes for these one-off, incremental orders will have been delivered to customers by the end of 2005.

The performance of the Group in 2005 demonstrates the value of our market leading positions both in North America and in U.K./Europe, through our Hardware Division, combined with strong management in each of our businesses.

* Before profit on the disposal of properties and operating exceptionals associated with the disposal of H.W.Plastics

CR

[daisymax] 07/9/2005 16:52

SP going up in leaps and bounds and still no-one on this bb.
Obviously no-one knows or cares about Heywood.!!!!!!!!!!!

[daisymax] 02/8/2005 07:40

This is obviously a really interesting thread & bb?????????? ZZZZZZZZzzzzzzzzzz

[chef] 08/3/2005 12:57

results due thursday and I think they will be poor due to dollar weakness, slowing mkt and massive increace in raw material prices

[waldron] 03/11/2004 08:10

LONDON (AFX) - Heywood Williams Group PLC said it still expects its results
for 2004 to be in line with market expectations despite news that one of its
customers, Coldseal Windows and Doors, has ceased trading.
Coldseal's custom accounts for 3 pct of Heywood Williams' annual turnover,
and the company estimated the impact on profit of the loss of its customer at 2
mln stg per year.
[e-mail]
ak/

[maywillow] 02/9/2004 07:21

RNS Number:5243C
Heywood Williams Group PLC
02 September 2004



Heywood Williams Group PLC
Interim Results
for the six months to 30 June 2004


Date: Embargoed until 7.00am, Thursday 2 September, 2004

Contacts: Robert Barr, Chief Executive Tel: [phone] (02/09/04)
Heywood Williams Group PLC Tel: [phone] (thereafter)

Jon Simmons/Sally Lewis
Financial Dynamics Tel: [phone]



Headline financials

* Turnover reduced mainly due to disposals to #194.2 million (2003:
#278.3 million)

* Operating profit increased to #3.7 million* (2003: #0.6 million loss*)

* Pre-tax profit up to #3.1 million* (2003: #1.7 million loss*)

* Pre-tax profit after exceptionals and goodwill amortisation #2.7
million (2003: #3.4 million loss)

* Earnings per share 2.0p* (2003: 1.3p loss per share*)

* before exceptionals and goodwill amortisation



Results from continuing operations

* Turnover from continuing operations #156.7 million (2003: #152.6
million)

* Operating profit from continuing operations #2.4 million (2003: #1.5
million)



Recent developments

* Significant elements of the restructuring programme now complete

* Robert Barr, new Chief Executive, joined the group

* Bristolpipe sold for #15.4 million in the second half, removing
volatile business with limited strategic fit

* Balance sheet strengthened, debt-free after Bristolpipe disposal

* Head office functions rationalised

* Operationally focused management team - returning Plastic Systems to
profit is the no.1 priority


Robert Barr, Chief Executive, said:

"The first half of 2004 saw the successful implementation of a substantial
programme of change designed to streamline and strengthen the group. Heywood
Williams is now focused on its market leading businesses of specialist
distribution of building products in the US and UK and the extrusion of plastic
profiles in the UK. The group is now profitable on an ongoing basis and we
continue to work towards delivering full year expectations. We are determined
to realise the potential from our market leading positions as the group moves
forward."



Interim Report from the Chairman


Restructuring Programme Update

In my report to shareholders in March, I said that 2003 was one of the most
difficult years that Heywood Williams had encountered in its long history.

As a consequence of this, the major focus in the first half of 2004 was to
continue to implement the comprehensive restructuring programme, announced in
October 2003, in parallel with returning the Plastic Systems division to
profitability. The restructuring programme was designed to strengthen the
group following the difficulties encountered during 2003. Significant elements
of the programme have now been completed including:


* The sale of the trade fabricators Coastal and Cestrum Conservatories
early in the year;

* On target headcount reductions in the continuing operations, particularly
Plastic Systems;

* Elimination of excess stocks and distribution equipment and write-down of
debtors associated with the supply chain issues which had arisen in Plastic
Systems;

* The downsizing of the electronic locking project, primarily Centralock;

* Finalisation of new financing facilities for the period to December 2005;

* An ongoing drive to increase the focus on cash and therefore optimise the
levels of capital employed throughout the operations and minimise the cash
component of the exceptional expenditure.

The group's balance sheet has improved significantly through the settlement of
the second part of the group's legacy product rectification claim, resulting in
the receipt of #14.5 million in June 2004, and the sale of Bristolpipe, the US
pipe operation, for a net cash receipt of #15.4 million in the second half.

The sale of Bristolpipe enabled the group to exit an activity, which provided
limited strategic opportunities and created a significant degree of volatility
in group earnings from year to year. Following the sale, banking facilities
have been extended until the end of 2005 with more conventional covenants.

Head office functions have also been rationalised and a number of senior
managers have left the company. These changes are part of a programme designed
to create an operationally focused management team, align the central resources
to the size of the operations and save costs.

As a result of the above actions the continuing group:

* Will be substantially debt-free throughout the rest of the year;

* Is profitable, recording an operating profit of #2.4 million in the first
half of 2004.

The results to date demonstrate that the group's operations have been
substantially improved through a wide-ranging and effectively managed series of
actions. I would like to thank the management teams, both in the operations and
at the centre for their commitment and skill, which augurs well for our future
endeavours, but we must not be complacent, as much remains to be done.


Management Changes

During this period the board has been strengthened with the appointment of
Robert Barr as group chief executive and Graham Menzies as non-executive
director. As previously announced, I stepped down as executive chairman to
become chairman from 1 July and Edward Roderick has ceased to be deputy chairman
from the same date, remaining as senior non-executive director. Following the
decision of Laurence Campbell to leave the group in September 2004, a programme
is in place to recruit a replacement.


Financial Performance

Group profit before taxation, goodwill amortisation and exceptionals was #3.1
million (H1 2003: loss of #1.7 million) on turnover of #194.2 million (H1 2003:
#278.3 million). The profit before tax, after exceptionals and goodwill
amortisation was #2.7 million (H1 2003: loss of #3.4 million).

The continuing business, after the sale of Coastal, Cestrum Conservatories and
Bristolpipe, made an operating profit of #2.4 million on sales of #156.7
million.

Diluted earnings per share, before goodwill amortisation and exceptional items
were 2.0p (H1 2003: loss of 1.3p).

Net borrowings reduced to #6.4 million as a result of strict cash management,
the disposal of Coastal and Cestrum Conservatories and the receipt of the
second part of the legacy product rectification claim of #14.5 million. This
compares to net debt at the end of June 2003 of #43.8 million. Following the
receipt of the net proceeds of #15.4 million from the disposal of Bristolpipe,
the group is, on average, debt-free.

As announced at the time of the settlement of the legacy product rectification
claim, the group has undertaken a further update to its lifetime cost
assessment, based on the latest scientific evidence and claims experience and
has increased the provision by the value of the second claim. The board
considers that this amount is sufficient to meet the cost of future claims. For
technical accounting reasons, it will be necessary to discount the provision and
charge notional interest in respect of the provision which is estimated at #3
million over the life of the provision, of which #0.6 million will be charged in
the second half of 2004.

The board has not declared an interim dividend (2003: 5.25p). The board
recognises the importance of dividends to shareholders, and dividends will be
restored once the board is satisfied that the group demonstrates its ability to
deliver acceptable and sustainable earnings.


Operational Review for the First Half of 2004

The UK PVC window, door and conservatory market was weaker than expected in the
first six months of 2004 and this continues to date. There are no firm industry
statistics on the whole sector, but the industry view is a market decline of at
least 5%. Against this background, the sales of our Hardware businesses were
broadly flat, as were operating profits. Plastic Systems sales declined by
12.4% largely due to the effect of customers lost during the period of supply
chain disruption in 2003. All efforts are being directed to generating new
business to arrest and reverse this trend. Despite the lower sales and higher
PVC resin costs (#0.8 million), the operating loss of Plastic Systems was
restricted to #2.3 million, a little better than the first half of 2003. This
was achieved primarily through lower customer credits, better raw material
efficiency, lower distribution costs, and reduced headcount. Customer service
levels have improved, but much more work remains to be done. The focus on
increasing sales volumes is absolute, but inevitably time will be required to
generate the additional sales necessary, at acceptable net margins, to return
the division to profitability.

In the US, early market weakness in both Manufactured Housing and PVC pipe gave
way to a more positive picture later in the first half, only to deteriorate
again. We remain positive for the Manufactured Housing recovery as the level of
repossessions falls, but the multi-section market has not yet enjoyed the
improvement achieved by single section homes. Recreational Vehicles grew
strongly throughout the period, which is supportive to our remaining US
operations. Our merchanting and operational effectiveness continued to deliver
acceptable returns in depressed market conditions. Overall, the US businesses
generated operating profit of #4.0 million in the first six months of 2004
despite the deterioration in average US Dollar/Sterling exchange rate to 1.82
from 1.61 in the first half of 2003.


The Development of the Simplified Group

As a result of the restructuring programme, the first stage of simplifying and
focusing the group has been completed. In essence, the group is now a supplier
of products to the building industry and consists of two major activities:
specialist sales, marketing and distribution of building products in the UK and
US (approximately 80% of turnover) and extrusion of plastic rigid and cellular
profiles in the UK (approximately 20% of turnover). Of the specialist
distribution sales, approximately 20% is vertically integrated value-added
manufacturing sold under group brands.

Looking ahead, the board is now focusing the group on developing its continuing
operations, supported by a strong balance sheet with a low level of borrowings.
This will result from well planned activity which is effectively executed across
all our businesses.

In specialist distribution in the US, we are already the market leader in
Manufactured Housing with approximately 25% market share in those products we
supply, but will seek to accelerate market share growth through new product
introductions and upgrades, whilst taking full advantage of the expected upturn
in the Manufactured Housing market. In parallel, we will seek to extend our
product offering and penetration into the high growth Recreational Vehicle and
Modular Housing markets.

In the UK specialist distribution sector, we are the market leader in hardware
distribution to the PVC windows, doors and conservatory market with a share of
approximately 26%. Product development will now receive extra impetus, as will
the full extension of product sourcing options and distribution into the already
established Eastern European markets. We will also evaluate the options
available for the development of our regional sealed unit operation.

In UK Plastic Systems, despite the loss of volume in recent years, we remain the
largest producer, with an estimated market share of 11%. Clearly, the drive to
reverse the sales decline will be the central focus of the group for the second
half of 2004 and all of 2005. In addressing this, it is important to recognise
that the customer base for cellular profiles is primarily specialist stockists,
whereas our rigid profile customers are mostly fabricators of windows, doors and
conservatories. Our future sales initiatives will be designed in a bespoke
manner, for these different customer groups. Nevertheless, the realisation of
the potential performance will take time to achieve, and eliminating losses is
the first target.

The new simplified group structure presents many opportunities across our
businesses and a clear and focused approach creates the environment necessary to
realise them.


Outlook

Overall market conditions remain weak in the UK and the momentum of improvement
in the US Manufactured Housing market has slowed. Nevertheless, we continue to
work towards the achievement of full year expectations. Equally important, the
platform for future growth, which has been established, will enable Heywood
Williams to realise the potential from our leading market positions as the group
moves forward.

[chef] 31/8/2004 12:54

quin20 I work in the industry and I am telling you that the market is not that weak. Here are 2 companies getting hammered by the competition and like all companies getting hammered they blame the market

Ultraframe do conservatory rooves but now all the window manufacturers have started doing roof systems in house and they say to the client. Buy or windows and roof system together. NO need to buy our windows and then an ultraframe roof.

Ever heard of NT2000 and Ultraframe supplier that has just gone bust due in part to supplying Ultraframe at a loss (moronic management!!)? Ultraframe IMO cannot compete on costs with the likes of Eurocell, Synseal etc who supply the full conservatory now rather than just the windows as in the past

[quinn20] 31/8/2004 12:46

Ultraframe say

'Outlook

In the UK, market conditions are expected to remain volatile and competitive.
The current rate of decline in turnover is expected to slow in 2005, as the
Group's expanded range of budget products builds market share in a segment in
which it is currently under-represented. Profitability is likely to be further
affected by continuing margin pressure, although profit is expected to decline
at a reduced rate in 2005'

Heywood Williams say

'The key objective is to regain market share, which has been
lost over recent years.



'Cash management remains a major focus in every part of the group, driven by
strict management from the centre, and new banking facilities have been
successfully agreed and put in place, for the period to June 2005.



'The UK, PVC windows, doors and conservatory market has been weaker than
expected in the first four months of 2004 and PVC resin prices have been higher...'

[chef] 31/8/2004 12:40

Ultraframe is not because of a weak market it is because of the way Ultraframe operate leaving them wide open to being attacked by competitors moveing into their market

[quinn20] 31/8/2004 12:37

Not exactly a rush of buyers pre results on Thursday.
That Ultraframe trading statement referred to by robert gives a pretty dire outlooo for 2004/5 confirming weak UPVC market and squeezed margins from increased budget competition in the UK.