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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Horizon Tech. | HOR | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 92.50 | 00:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 92.50 | 92.50 |
| Top Posts |
|---|
Posted at 07/11/2007 07:50 by charlie11908 High Court allows Horizon to wipe losses Tuesday, 6th November 2007 01.34pm Dublin-based computer system provider Horizon Technology Group has won High Court approval to reduce its share premium account by the amount necessary to eliminate historical losses and restore the profit and loss account to a nil position. The Company has not been in a position to distribute dividends because it has had cumulative retained losses. To get over this, the ISE quoted group had previously sought and received shareholder approval to reduce the share premium account. The directors do not intend to declare a dividend in the short term but believe that it is important to eliminate the legal impediment on the payment of dividends. It says the position of its creditors is not adversely affected by the reduction. |
Posted at 06/11/2007 17:53 by tole Horizon Technology "buy"Tuesday, November 06, 2007 7:04:13 AM ET Goodbody Stockbrokers LONDON, November 6 (newratings.com) - Analyst Gerry Hennigan of Goodbody Stockbrokers maintains his "buy" rating on Horizon Technology Group Plc (ticker: HOR-GBX). In a research note published this morning, the analyst mentions that Horizon Technology has received an approval by the High Court to reduce its share premium account, restore its P&L account to a nil position and, as a result, position the company to distribute dividends. Although Horizon Technology has indicated that it does not intend to declare a dividend in the near term, the company may do so going ahead, the analyst says. |
Posted at 19/10/2007 12:38 by tole Not been posted here...Services boost Horizon Tech Created: 7 September 2007 Written by: Tim Bradshaw Like Morse, Horizon Technology is moving out of pure hardware reselling and into consulting services - but without the same heartache that has soured Morse's results recently. "We are not walking away from our investments in infrastructure," says Horizon's chief finance officer, Cathal O'Caoimh. "We are very happy to invest in two distinct areas." Earnings from applications consulting grew 78 per cent, comprising a third of group earnings; the change in mix has improved operating margins from 8.8 per cent to 14.2 per cent. Cash conversion of 167 per cent put Horizon back into a net cash position, but that's also because it hasn't retained its traditional pace of acquisitions. "There's a gap between the multiples we're prepared to pay and what some of these companies are looking for," says Mr O'Caoimh, adding that the company is "certainly still in the market" for more deals, particularly in the Irish public sector and in Oracle consulting. Oracle infrastructure software, a relatively new area for Horizon, has been slower to take off than it had hoped, but business has picked up since the half-year. Panmure Gordon expects EPS of 10.8c (7.3p) in 2007 and 11.9c (8p) in 2008 (2006: 9.2c). Horizon Technology (HOR) ORD PRICE: 66p MARKET VALUE: £ 54m TOUCH: 65-67p 12-MONTH HIGH: 80p LOW: 61p DIVIDEND YIELD: nil PE RATIO: 14 NET ASSET VALUE: 51 cents* NET CASH: 1.0m Half-year to 30 Jun Turnover (m) Pretax profit (m) Earnings per share (¢) Net div per share (¢) 2006 131 3.13 2.77 nil 2007 146 3.91 4.47 nil % change +11 +25 +61 - *includes intangible assets of 25.9m or 31 cents per share (£1=1.48) IC VIEW - GoodValue Horizon's low rating partially reflects low trading volumes in its London listing, but the shares are nonetheless good value. Last IC View: Good value, 77p, 23 March 2007 NB - Believe the figures quoted above by Panmure have since been upgraded post results to 11.09c and 12.04c, which is the lowest of the estimates I have with the majority and house brokers Shore Cap looking for 11.5c and 12.7c respectively for 2007e and 2008e. |
Posted at 07/9/2007 10:41 by tole Horizon Technology profits jump by 25pc in first halfFriday September 07 2007 HORIZON Technology, the specialist in the integration and distribution of information technology products, has reported interim results showing a 25pc jump in profits before tax to 3.9m for the half year to June 30, 2007. The improvement came on the back of its decision to focus on service provision and exit the hardware distribution business which had acted as a drag on earnings. Horizon's chief executive Gary Coburn said. "The successful integration of acquisitions completed in 2006 and our increased services orientation is delivering performance and growth." The group generated 8.8m cash flow from operations and eliminated net debt at the end of the period, with net cash of 1m instead of net debts of around 7m a year ago. Horizon said its enterprise applications and services division increased earnings by 78pc year-on-year and generated one third of the group's earnings. It also said the expansion of services within the group's Irish operations means that 58pc of group profits were generated in Ireland during the period stated. The company's own broker Shore Capital said the results were "some way ahead of our expectations" and has decided to upgrade both the 2007 and 2008 forecast as a result. While it had predicted revenues of 139m and earnings of 4.5c eps, the company reported revenues of 145m with earnings pitched at 51c a share. "The cash performance of the business has been particularly strong," the broker said. Horizon's market position is continuing to strengthen, which should bode well for future margin development, the broker said, adding that a proposed capital reduction raises the possibility of dividend payments in the near future. |
Posted at 06/9/2007 13:44 by tole 06-Sep-07 Horizon Technology HOR Panmure Gordon Buy 65.00p 92.00p - Reiteration |
Posted at 04/9/2007 14:09 by tole Summary taken from DAVY stockbrokers announcement post final results in March...Reference to the possibility of opening the way to payment of a DIVIDEND . Horizon Technology Group reported a 47% increase in revenues to 257.9m with profit after tax almost 30% ahead at 5.5m in the full year to December 2006. Growth was driven by a series of acquisitions as well as internal developments. Further developments will drive growth in 2007, and the company has cleared the way for the potential payment of dividends. Organic revenue growth was over 19%, with the balance coming from three key acquisitions as well as organic developments within the business. All three acquisitions appear to be performing ahead of expectations. Gross margins increased to 16.7% (from 16.4%), with a slight decline in the organic margin being more than offset by stronger growth in higher-margin consulting businesses. The rise in the cost base associated with the new developments resulted in EBITDA increasing by 21% to over 10m and profit after tax up almost 30% to over 5.5m. EPS increased by 11%, including the impact of the 7.4m shares placed in February 2006. The outlook for 2007 remains positive with a number of new developments announced, including a partnership with Oracle in the UK and the expansion of the UK IBM business into Ireland. These should continue to drive revenue and profit growth. Growth will also be augmented as the new UK developments initiated in 2006 start to generate profits. Interestingly, the company indicated that it plans to eliminate historical losses in its balance sheet which will open the way for Horizon to pay dividends. Based on yesterday's close of 105c per share, a dividend yield of 2% would be covered almost 3.5 times by the 2006 net profits. Overall, we remain positive on Horizon based on its consistent growth performance. At just over nine times our current 2007 EPS forecasts, the stock continues to look good value. |
Posted at 22/9/2004 10:54 by explorer88 blackbear - i too sold my HOR recently.Good luck with your CFD's. I'm long on SRF - you may like to check them out. Whilst we've had a good run up in the last ten days (from £4.75 to £5.75), i'm expecting plenty more upside - short, medium and long term. OMG is also looking good, but you may not be able to buy OMG CFD's |
Posted at 21/9/2004 18:43 by blackbear I've actually sold them today , mm took the lot i had left , i made &9,000 in total from HOR , best trade i ever did.I'm opening a CFD account today , they are giving me serious margin 10x i believe , hope to trade for a living soon , but ive got some learning to do yet with short term trading technique's to make sure i don't get wiped out , i will have &150k to play with from ^&15k , maybe i should stick to this long term share's, i don't know , but i shall soon find out. later's smokie , take care of the car |
Posted at 01/9/2004 14:15 by blackbear Smokie , u about m8? i still have half.... :O)result's tomorrow.... |
Posted at 08/8/2004 23:33 by explorer88 blackbearthought i'd drop by and say hi on this quiet thread. Cathal is an excellent CFO. I bought HOR at 18p last May and watched re-rating to 60p in six months. The share price has now consolidated for eight months and i agree with you, i think we'll see a further upward movement to about 100p in the next few months... ...another of my favourite shares is OMG (www.omg3d.com www.vicon.com.) Currently has a market cap. of £13 million (with £4 million cash in bank). I expect OMG market cap. will reach approx. £50 million during the next two years. OMG will be issuing an interesting press release later today... |
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