Hss Hire Share Discussion Threads

[hybrasil] 06/4/2018 12:20

very happy with my purchase here

[hybrasil] 14/3/2018 16:45

bought these a little early but now moving forwards.

[kingston78] 15/2/2018 19:43

Cash is king. Where is the cash? None. Huge borrowings and enormous amount of worthless intangibles. Where is the Company going? Nowhere really other than trying to mislead investors who don’t understand accounts. Depreciation and amortisation are an integral parts of the Profit and Loss account with a real cash flow consequence and yet the BOD concentrated on EBITDA. The BOD are misleading investors.

[kingston78] 14/2/2018 13:58

Looking back at their 2016 annual report HSS had an EBITDA of £20.4 m and a pre-tax loss of £17.3 m due to exceptional costs of £16 m and interest £14.7 m. It is no good to have exceptional costs year after year. This means the company has deep operational and financial problems. Interest expense is also too high, with £200 m loans and £40 m HP outstanding at 31/12/2016. In 2016 its balance sheet had a net asset of £153 m, but if we strip out the intangible asset of £179 m the balance is actually in deficit of £46 m. It was surprising that they had paid total dividend of £1.7 m. The former management simply did not have common sense when the Company could not afford to pay a dividend.

Despite the current improved trading and some cost cutting HSS is not out of the woods. It is spending more money to restructure the business than the reward they are reaping in the short term. It will take them years to return to pre-tax profit eve if achieved. When a person / company is in heavy debt one has to run to stand still financially, as most of the money earned will go towards debt repayment.

[pugugly] 14/2/2018 07:18

Update out - School report working hard but -------- (imo) a lot further to go and competitors appear to have major built in advantages PLUS again IMO marketplace too crowded and all contracting operators under extreme cost pressure PLUS adjusted EBITAcasn cover a multitude of sins and omissions - Need to see real bottom line.
"adjusted EBITA of between £8m and £11m"





"As part of these changes, the Group will recognise a provision for exceptional costs of approximately £40m, including an impairment of related assets of £7m" OK they go on to claim annual savings thereafter but "many a slip twixt cup and lip" etc (imo)

[kingston78] 01/2/2018 14:43

Last year there was a survey pointing out that the risk of companies in the construction industry going bust had increased. Carillion is the first casualty and there will be more to come.

Any company with a stretched balance sheet will be worried.

[dealy] 17/1/2018 14:58

Surely there are opportunities as well to do business with firms taking over some of carillion work?

[kingston78] 17/1/2018 13:31

Why is HSS silent on its exposure to Carillion? Is it gathering information and assessing it before considering whether to issue an RNS?

[my retirement fund] 15/1/2018 13:30

Speedy will be taking the carillion hit as it was prefered supplier plus the contractors on top. Double whammy for them. Non the less HSS are not particularly solvent themselves are they!

[my retirement fund] 15/1/2018 13:29

Its the many carillion contractors that will go bust not carillion themselves in this case. However there must be fifty business going to the wall as they will never get paid.

[albanyvillas] 15/1/2018 10:31

How much does carillion owe them

[my retirement fund] 15/1/2018 08:16

Will be interesting to see if this is the straw that pushes HSS into insolvency.

[ntv] 14/1/2018 09:29

Who is going to pay the pension deficit?

[ntv] 14/1/2018 09:25

So the government is going to bail carillon and the banks but not the steel industry. That would be typical.

[brummy_git] 13/1/2018 14:14

According to today's FT, "trade credit insurers including Euler Hermes (owned by Allianz) have started to pull their support from Carillion because of its financial problems". If true, then unfortunately these things tend to end badly

[dealy] 13/1/2018 13:01

I personally think the hysteria around carillon will subside soon. Equity holders might take a bath (already have) but it won't go bust imo

[brummy_git] 13/1/2018 12:27

Anybody know what exposure HSS has to Carillion, especially in terms of possible bad debt and contract disruption?

[hybrasil] 12/1/2018 10:10

well you were dead right!!

HSS hasn't been my best idea either. Its very cheap atm and has an excellent brand.

I suspect someone will take it out.

[hybrasil] 10/1/2018 20:39

American Idiot

What were you called then?

[american idiot] 10/1/2018 16:56

Shareprice lost 2p on absolutely miniscule 'AT' trading late on this afternoon.

These markets are soo rigged at times.

Hybrasil, I remember you from the ADVFN BB days probably around a decade ago (I was under a different username then)

Can I ask how you did out of your ADVFN investment ? Maybe you still hold ? (If I remember rightly didnt you own 3% (or more) of ADVFN back then ?

[bc4] 17/12/2017 10:25

Simple solution then, Do not invest here!