Hml Share Discussion Threads

[stemis] 26/5/2018 11:29

Yes, I'd probably take an offer at 45p. I hoped for more originally (having bought at 34p) but I'd take some convincing now by management that we were going to see economies of scale feed through to margins. All they seem to be doing is borrowing and issuing shares to buy companies which turn out to be worth no more than they paid for them. If they just kept the cash/didn't issue the shares instead I'm not sure the share price would be any different...

[davidosh] 25/5/2018 16:28

Apologies but there is no way I would accept 45p as a bid after all these years of building the company up into reasonable scale. If the benefits of all these acquisitions come through then this company should be delivering better margins and on a p/e of 12 at least so 60p is my minimum target price. I am a buyer to try to ensure no cheap bid goes unopposed.

The results are only a month away and I will arrange a presentation with management.

[rivaldo] 25/5/2018 13:57

Hello - some excitement :o))

[rp19] 18/5/2018 12:02

The Private Rented Sector (PRS) model is becoming increasingly popular in the UK and with it provides a need for residential property management. I am hoping that there is some reference to targeting the PRS market within the forthcoming results as it is not something I have seem them specifically comment on before.

[jeevsje] 01/5/2018 22:24

Takeover at 45p is not good enough. We want 60p.

[horndean eagle] 01/5/2018 15:42

I see Harwood on the shareholder list here. They have form in taking companies cheaply off market with management support. I wouldn't be at all surprised if thats what ends up happening here. I don't think there would be a huge amount of dissent with an offer around 45p. Harwood would then weave their magic and float it a few years down the line again no doubt. Something needs to happen. Long term shareholders must be looking for a catalyst and a reason to own the shares.

[igoe104] 01/5/2018 15:03

Hopefully a run past 40p is on the cards, now the momentum as changed.

[rivaldo] 01/5/2018 13:24

Finally ticking up, and on tiny buying. Hopefully this means not much stock available.

[stemis] 30/4/2018 12:37

Yeah... I'm holding too and wouldn't sell at this price but when I bought 3 years ago I thought we'd be much further ahead than we are...

[rivaldo] 30/4/2018 12:31

You forget SteMis, it takes time and effort to realise fully all those acquisition synergies. Or so they keep telling us....

I'm happy to hold, and likely add some more, as I can't see much if any downside, whereas it's just possible we could see a 45p-50p share price quite quickly if the upcoming results are bullish and Finncap's forecasts show a decent increase over the now historic 4.1p EPS.

[stemis] 30/4/2018 11:21

I agree it's positive that they have met brokers forecasts and I agree they look cheap but the performance is hardly spectacular. Unless I'm mistaken, what they are revealing is that they have managed to increase adjusted PBT from £1.8m to £2.2m.

However on 1 April 2017 they spent £2.3m (+£0.6m performance related) on FPM.
On 2 March 2017 they spent £1.0m (+£0.7m performance relates) on G&C
On 2 February 2017 they spent £0.3m (+£0.2m performance related) on GP

All of these should pretty much have contributed a year's worth of performance in 2017/18 compared to 2016/17 (there's a few others which contribute a bit more).

So £3.6m to £5.1m of spend to increase PBT by £0.4m. Where's the synergy benefit? Where is the growth in the rest of the business? All it looks like we are seeing in the increased PBT is the contribution of some fairly fully priced acquisitions.

[igoe104] 30/4/2018 11:19

Cheers Rivaldo, like you said these are cheap.

[horndean eagle] 30/4/2018 11:18

They haven't made any acquisitions in the last year which helps explain why they might now be doing better. Hopefully they keep it that way. This company should really be run for cash and pay most of its profits out as dividends. Would get a decent re-rating if they went down that path.

[rivaldo] 30/4/2018 08:36

Finncap retain their Buy and 48p target today - almost 60% upside - along with that 4.1p EPS and 0.4p dividend forecast. That's a historic P/E of 7.4.

I assume they'll issue this year's forecasts when the full prelims are released.

They also point out:

"The statement also implies a strong profit performance during the second half of c. £1.2m at the adjusted PBT level, compared with £1.0m in H1 and £0.90m in H2 the previous year. This better performance over H1 was driven in part we believe by lower costs associated with acquisition integration."

Perhaps HMLH are indeed finally seeing all those trumpeted acquisition synergies and savings finally coming through.

[rivaldo] 30/4/2018 07:07

Short but relatively sweet trading update today confirming trading in line for last year - that means 4.1p historic EPS per Finncap, with a 0.4p dividend.

Looking extremely cheap at these levels imho:

"HML Holdings plc (AIM: HMLH), a leading provider of property management, insurance and ancillary services to residential property blocks, is pleased to announce that the board anticipates being able to report trading in line with market expectations for the 12 month period ended 31 March 2018.

The board looks forward to releasing results in relation to this period on 26 June 2018."

[3800] 04/4/2018 11:43

I wonder who sold the shares?

[cockerhoop] 04/4/2018 11:29

Yes I remember Christopher Mills taking Essenden private 'on the cheap' to the detriment of shareholders including myself.

HML clearly needs shaking up but be careful what you wish for!

[rivaldo] 04/4/2018 09:09

RNS - good to see Harwood Capital buying more and increasing to over 13% with a total of 6.04m shares:



Their last holdings RNS was in December, when they held 5.125m, so they've bought more than 900,000 shares since then.

[jeevsje] 27/3/2018 19:26

Sell coming in significantly below bid. Run for the hills.

[graham1ty] 08/3/2018 18:13

David, thought MELLO was only for high quality growth companies !!!

[davidosh] 08/3/2018 17:59

I think I will have to invite these guys to www.Mello2018.com as they are far too low profile and need to explain what the growth strategy is and how it will work for shareholders.

[stemis] 08/3/2018 16:46

Now on a trailing adjusted P/E of 8.6 and a 2018 forecast of 7.5. Not a huge amount of hope value built into the price here...

[jeevsje] 13/2/2018 08:29

Good morning, my wife isn't here today and I am getting bored at home. Literally no volume here to keep me excited. Anyone interested in buying or topping up?

[jeevsje] 12/2/2018 15:18

They are trying to fish after my rant.