Highway Insurance Share Discussion Threads

[factsonly] 08/9/2005 07:08

4p eps... interim stage! and you're right, fantastic prospective divi yield at 10%!!! I believe HWY is in for a surge to 60p-70p now.

[jwe] 08/9/2005 07:06

Excellent set of results i`m in-great yield.

[tole] 08/9/2005 07:00

Going to breakout :)

[janus62] 08/9/2005 06:32

HIGHWAY INSURANCE HOLDINGS PLC

Interim Results

Six months to 30 June 2005
2005 2004
Net earned premiums £118.8m £108.6m
Profit before tax £11.3m £5.0m
Operating ratio 96.9% 99.0%
Expense ratio 19.9% 21.0%
Net investment income £10.3m £7.9m
Earnings per share 4.0p 1.8p
Interim dividend 1.6p 0.8p


Highlights

• Interim profits up 117% to £11.3 million (£5.0m) after charging £0.7m
million of bid and FSCS levy costs
• Continued strong financial performance: 27% pre-tax return on opening net
assets
• Investment strategy continues to perform, producing 3.0% return (2004:
2.1%)
• Net assets £88.1 million up 21.5% at 44.0p per share (2004: £72.5 million
- 36.6p)
• Retail division on budget and now controlling 106,000 policies
• Interim dividend increased by 100% to 1.6p per share (2004 - 0.8p per
share)
• Board intends to increase full year dividend by 89% to 5.0p per share.


Commenting on first half performance, Ross Dunlop, Executive Chairman said:

'These results demonstrate that the changes to the business put in place three years ago
are delivering improved profitability on a consistent basis.'

For more information:

Highway Insurance 01277 266298

Ross Dunlop Executive Chairman
Ian Patrick Group Finance & Operations Director


M: Communications 020 7153 1540

Nick Fox


An analysts' meeting will be held at 12:00 noon on 8 September 2005 at
M: Communications, 1 Ropemaker Street, Ninth Floor, London EC2Y 9HT

Full report.

[factsonly] 08/8/2005 21:41

I see what you're thinking is an inverse head and shoulders... it doesn't entirely look like one due to the illiquid nature of the share.

[a2336418] 08/8/2005 11:00

Does this HWY share price chart look like a reverse head and shoulders........if so can a chartist amongst you give a target price? Cheers.

[factsonly] 29/7/2005 13:38

Forget having a bidder, this company is way undervalued anyway, so it should breach the 50p level on its own. Actually, I'm surprised it's not 60p+ already, the yield and earnings on HWY should be commanding a much higher share price.

[ursus] 29/7/2005 09:23

keeps creeping up gently. now above highest level reached during chaucer bid. i guess the investment performance gives hope for big divi increase, and the reserves are an attraction for a bidder....

[mahtsew] 20/7/2005 13:53

Time will tell but there are some big players here & that has to be a positive for hwy - maybe some news is about to happen

[troutisout] 19/7/2005 19:39

Hope this helps,they have certainly been buying, but it does not mean they bought 1m today, but they may have...

RNS Number:0338P
Highway Insurance Holdings PLC
19 July 2005


HOLDINGS IN COMPANY

Highway Insurance Holdings Plc ("Highway") was notified on 18 July 2005 that FMR
Corp. and Fidelity International Limited and their direct and indirect
subsidiaries have notifiable non-beneficial interests in 18,373,539 Highway
ordinary 20p shares, representing 9.04% of the issued share capital of Highway.
This is an increase of 1,908,920 shares since their last notification to Highway
on 8 June 2005.

The notifiable interests also comprise the notifiable interest of Mr Edward C
Johnson 3rd, a principal shareholder of FMR Corp.

Highway has been informed that the shares to which this notification relates are
registered as follows:

J P Morgan, Bournemouth (FISL) 16,783,241
J P Morgan, Bournemouth (FII) 901,098
Brown Brothers Harriman Ltd Lux (FIL) 371,200
Bank of New York Brussels (FPM) 318,000
TOTAL 18,373,539

P J Lampshire
Company Secretary
Tel : [phone]

19 July 2005

[eipgam] 19/7/2005 16:00

Interesting comment, and I hope you are right. But how do you know it is a buy by Fidelity? If it is, I wonder if it is A Bolton/S Sits fund...

[mahtsew] 19/7/2005 13:21

A 1mil buy today from fidelity - has this the hallmarks of an approach or is there something else that this company is about to report on

[eipgam] 29/6/2005 15:47

I think I have a lot to learn.... how can the price go up today when there are almost 200,000 sales and only 1200 buys? Are the MMs and brokers sweeping up stock for a fat profit in the not too distant future, or what?

[adon] 28/6/2005 19:22

most odd why is he joining Cox later in the year. and what does the existing finance director of Cox think. I'm puzzled, but I still can't see it doing the share price much harm. seems like Cox are still after Highway. perhaps we will see more when Cox are delisted.

[troutisout] 28/6/2005 17:25

Strange.
Imagine you were a former CEO of an insurance company and you now wanted to buy it, with the help of venture capitalists. Only the present management have approached another local insurer about a possible merger, that may chuck a spanner in the works, until you realise your old mucker was CEO of that company. The merger was called off after the CEO of the other company pulled out, at the same time shoving the boot in claiming there was a black hole in the accounts of the first company. This left the share price lower and you were able to win the backing and take over the company.
The question is do you reward the other guy or not?

[alexandrews] 28/6/2005 14:46

Not said in a Steve Davis voice and without even a hint of irony?

[factsonly] 28/6/2005 14:35

Hmm, that is interesting indeed.

[iroll] 28/6/2005 13:46

Cox Insurance Holdings PLC
28 June 2005


28 June 2005

Cox Insurance Holdings Plc

Directorate Change

Cox Insurance Holdings Plc announces that Andrew Gibson is to join the Board, as
Finance and Operations Director, later this year at a date to be agreed.

Mr Gibson has been Chief Executive Officer of Highway Insurance Holdings plc,
the quoted motor insurance company, since 2002.

[troutisout] 28/6/2005 09:23

Factsonly,
News in Independent, confirming Gibson gone to Cox and possible rekindling of merger talks, story posted on iii.

[factsonly] 28/6/2005 08:16

troutisout - i c your point. If he really is going to Cox, could this mean that they could mount a more powerful/informed takeover bid for HWY?

[thecleaner] 27/6/2005 18:30

Can't see why this is of material impact. Company has a v strong balance sheet on a pe of 6 and a yield of 6% covered 3 times. Can't argue with that. You never know we might even get a more pro-active director to liven things up.

[troutisout] 27/6/2005 15:58

Factsonly,
Re-read the RNS, the quote should say "pursue another opportunity", which would then change the rest of your post.

[troutisout] 27/6/2005 14:21

He hasn't moved far! from one side of Brentwood to the other.
Seeing as he lead us to believe that the deal with Cox would be bad for us, it is surprising, he then leaves to go to them.

[factsonly] 27/6/2005 14:16

I think it might be the complete opposite, he may have been the main reason/driver that the company is not being taken over? therefore with him gone, it opens HWY up to predators now. Was he pushed or did he leave on own terms? The way I see it, the words "to pursue other opportunities" could mean he has no job to go to yet so is going to seek a new job, which could mean he was pushed.

[adon] 27/6/2005 11:48

probably he got fed up of the shares poor performance and the main shareholders are pushing to make a deal. a deal should be expected shortly. i dont think his leaving is reason to sell, but i could be wrong.