Huveaux Share Discussion Threads

[jonathanlabrey] 28/1/2008 21:23

This is getting depressing!

[chesty1] 24/1/2008 12:09

And still it goes down.....

I want in BUT not yet still looks like further to fall BUT then again who knows...

I always thought of this as a solid co....It just goes to show ya.

[blueliner] 24/1/2008 07:43

leokeo

Not followed much on this co before till recently, who is or was pcl.

Surely HVX isn't in such dire straits, am looking for an entry point.

[leokeo] 23/1/2008 22:50

as l predicted any company that paid 16.5m for pcl was bound to fail and their management team would also fail - just wait till it goes into receivership

[cerrito] 18/1/2008 18:34

I said in my 460 that i would not buy till the price reached 15p and we are pretty much there.
Despite the fact that as per my 454 they are operating at breakeven and as per my 456 have strained liquidity and thinly spread management my gut tells me they are worth more than the current marcap of £22m to a bigger player who can add management and size to their diversified product line.
People will want to continue spending on revision books for their children and companies will need to continue with their lobbying though I do recognize that government will be more careful in spending on advertising.
I will need to ponder over the weekend if I have the courage of my convictions.

[jonwig] 14/1/2008 10:04

ps - I stand corrected - you're quite right, of course.

[psolomons] 14/1/2008 10:00

jonwig you are such a hair trigger. take it easy, you'll get heart trouble ! making a comparison between net assets and intangibles is a poor way to assess a companies worth or suitability to invest in.

[jonwig] 14/1/2008 09:48

Errr ps - bargepole!!
Strip out intangibles (a prudent thing to do), and the company has negative net worth.

[psolomons] 14/1/2008 09:46

Errr not sure what your figures mean jonwig. surely you need to quote total assets.

[jonwig] 10/1/2008 18:59

When a share does this sort of thing, my first thought is to look at the asset backing.

Here, Net Assets = £45m, of which £71m are intangibles.
Gearing is 41%.

Not for me, then.

[chesty1] 10/1/2008 18:49

Is that a technical term there William...??

[jlabrey] 10/1/2008 16:08

I can't help thinking this is seriously undervalued but can't bring myself to risk adding.

[smashingguy] 09/1/2008 10:56

target: < 6p

[blueliner] 02/1/2008 21:11

Not good when FDs leave, anyway seems to have lasted more than 12 months.
been a bit of a revolving door with this co in that respect.

[cerrito] 02/1/2008 18:08

What this company needs is a good FD with the personal ability to stand up to the chairman/ceo; while it is good that the current one is hanging around to complete the year end, he will not have the focus to provide the long term discipline that is needed ...without wishing to be a party pooper it will be difficult for them to get a good candidate given the current uncertainty facing the group
not selling at the moment but not buying..at this stage will not buy unless the share price falls to say 15p or they announce a new FD but this is unlikely to happen any time soon given seasonal factors

[chesty1] 02/1/2008 17:32

This ones having a horrid time of it.....

So solid the past few years & now sinking ship....

Not holding but have done in the past, I always thought this was a solid investment, how wrong can you be...

Is it down to expansion have they tried to be too big too soon..???? Not followed it for a year or so now????

[elmfield] 13/12/2007 13:19

Yes, am not rushing in but have looked at it this morning with the drop of 2.5p, bolt down the hatches time as the gov seem to pay little notice to money supply figures, LOL!

[psolomons] 13/12/2007 10:37

This company has done little but dissapoint the city. Unloved and not trusted, thats HVX at the moment im afraid. I cannot see where a substantial rise would come from. I am OUT.

[cerrito] 13/12/2007 10:06

My first reaction was to buy but a closer look has put paid to that.
I am not fazed by the reluctance of the potential bidders to pay what the Chairman who IMJ has an ego issue thought was an appropriate price.
I note that 12 month EBITDA is given as approx £6m(whatever approx means) rather than the £6/£7m mentioned on Nov 13 .
I note the extra ordinary costs of £1.1m which I read as cash costs and note that at 607 their liquidity position was strained and this will add further strain.
I notice that deputy Chairman Hand is given for the first time as a contact point..perhaps he is wielding the axe and spooky how they have been able to build up such central costs.
Indeed I had often wondered what a porivate equity house bought to the party..perhaps it was good cost controls.
Continue to neither buy or sell

[networker] 13/12/2007 09:39

At this stage it's difficult to see where support is coming from, if the potential buyer(s) have politely declined to bid. The shares remain unloved and the company doesn't seem to have many options in its armoury at the moment.

[cerrito] 13/11/2007 11:43

Ran through the profit forecast figures, something I did not get round to doing when they came out the first time.
They are talking about H2 EBITDA being £5/6m similar to H2 06 of £5.4.
That of course does not recognize that in H207 they will get full benefit of Letts and Leckie and Leckie acquisitions whereas in H206 they only got partial benefit.
Furthermore in H2 interest costs will be higher than the £674k of H2 06 and more like the £752k of H1 07.
To have a stab at post tax profit for the full year, if you say ebitda is £6m , you double the first half interest figure to give £1.5m, and then double the first half depreciation and amortization to give you £3.7m and say tax is £0.8m you have a breakeven figure.
All pretty back of the envelope but does explain the current share price.
I am neither selling or buying.

[amla] 12/11/2007 12:45

Have a look at August Equity's website.They seem to be a well run firm that has made some canny investments in the past few years.
Not quite sure where HVX fits into their investment portfolio,however,they are a careful bunch and at the moment see unrealised value here.Hope they like what they find and make a decent offer.The fact that August is interested makes me feel quite confident in my investment here.

[amla] 05/11/2007 14:55

This could take a bit of time until we have a decision announced.I would be very surprised if the share price dropped from here...only if no one wants to buy them.If HVX refuses any bid as being too low then that would be reassuring as to how they see their progress in future.
lol