Huveaux Share Discussion Threads

[jonathanlabrey] 14/6/2008 21:45

jasuk - I think there was £10m on the Epic books at acquisition if I remember rightly. Also, much expertise and contracts have been added to Huveaux's capability across its other divisions which cannot easily be correlated. So the Epic deal was better value than it seems on paper.

The key point about both recent announcements is that Huveaux is taking action to cut debt, which is very positive for the future of the company, coupled with the improved trading conditions in 2008.

[jasuk] 13/6/2008 14:49

A company bought for 22.7million now sold for 4.75million, not very good business.

[psolomons] 04/6/2008 22:18

Where is everyone ? Todays announcement means they can pay down a good slice of debt after receiving cash for the one part of the business which is dragging them back. Trading is also improving so far this year. A better candidate for re-rating I have not seen for a while.

[psolomons] 03/6/2008 15:07

Excellent note to the city today. I agree serious re rating is due.

[chrisdgb] 03/6/2008 11:19

Nice AGM statement, looks like French business to be sold. Wonder what price???

Through the 20p shortly.....

[chrisdgb] 15/5/2008 12:17

Difficult to get a feel for this one at the moment, I am thinking of adding my second tranche.

[psolomons] 12/5/2008 14:49

I'd say HVX is an absol;ute 'nailed on' target for a takeover at this price. You can bet a number of other companies in the field are taking a look.

[chrisdgb] 12/5/2008 10:57

All gone quiet here, anybody have any fresh thoughts?

There was some FT comment at the weekend that the B2B media companies were ripe for consolidation.

[chrisdgb] 01/5/2008 11:42

if true, let us hope any offer is a decent one and tidied up quickly, unlike last time..

[psolomons] 01/5/2008 11:08

The company will have to say something soon if there has been a formal approach.I see the FT speculate its a US company based in Texas. That kind of detail tends to suggest there probably is something in this !

[psolomons] 30/4/2008 09:34

I dont think it was ever revealed but it was substantially more than 15p. my guess is that it was north of 50p

[chrisdgb] 30/4/2008 09:16

did we ever get a feel for what the August Capital bid was at???????

[psolomons] 30/4/2008 09:11

Lets face it. its an absolute steal at this level. market cap of 22 million

[chrisdgb] 30/4/2008 08:53

From the FT:

Huveaux , the publisher of Letts study aids, added 10.7 per cent to 15.5p on rumours of another takeover approach.

[chesty1] 30/4/2008 08:51

Can you post a link to that Chris ???

[chrisdgb] 30/4/2008 08:16

Bid stories in the papers this morning..........

[crosswire] 28/4/2008 18:04

Diary of a private investor:

I feel more optimistic about the market

Last Updated: 12:46am BST 26/04/2008




I'm doing just what the doctor ordered, writes James Bartholomew


Thus encouraged, I have bought into two more companies which appear to me to be good value. I have significantly increased my stake in Huveaux, a company which produces educational, political, healthcare and other publications including the Letts school revision guides. The shares have had a horrid time.

Last June they stood at 53p and it is as if they threw themselves off a cliff. They are now dazed and astonished down at 12p. Profits from healthcare publishing in France collapsed and spending on their products by the British government fell. Profits overall were hammered.

On top of that, the company nearly went private but then did not. That meant some hopeful investors got burnt and they have doubtless been sellers. However, the company has put in cost-saving measures and won new contracts.

I asked a friend of mine in publishing what sort of reputation the management had and he came back with a very positive response. Three brokers all forecast a good profits recovery which, if it comes to pass, will mean that shares are standing at less than six times prospective earnings per share.

That sounds like good value to me. I have paid 11.5p per share for my increased stake. The major challenge has been to find similarly good value in the main stock market. There seem to be plenty of lowly valued companies in the Alternative Investment Market (Aim).

[psolomons] 18/4/2008 01:09

Its paid in August but you need to hold on 6th June in order to get it. Having said that I still reckon its undervalued at the moment.
Christ is that the time !!

[imabastard] 17/4/2008 21:43

psolomons.... thanks for the reply .... but that's not until the end of August .... four and a half months away ....

[psolomons] 17/4/2008 21:26

My guess is the offer of 3/4 of a p per share dividend coming up.

[imabastard] 17/4/2008 18:35

.... this has risen 50 % in the last 10 days .... with recent above average daily volume .... no announcements .... no ramping .... and even with a general market down day today, it's still risng swiftly .... is there something happening in the background here ?

[psolomons] 13/3/2008 10:24

Im out, took my weeny profit. Might get back in again for the dividend though.

[cerrito] 06/3/2008 20:33

I admire their efforts to control their cash flow...dividend will not be paid till August 29!

[jlabrey] 03/3/2008 10:11

Cerrito - that sums up my view also. I am also heavy enough in this for the time being. But will buy on further weakness.

[cerrito] 03/3/2008 08:02

Despite the fact that EBITDA of £5.8m did not reach the £6/7m they were talking about in November, and the realization that the UK public sector gravy train has finished and the reality of the French healthcare division, I was moderately encouraged by the results.
At least they have identified a new FD; are cutting out £2.5mpa cost base; the Chairman is going non Exec; not making further acquisitions.
Financial position just about OK. If they can meet last year's net cash from operations of £5.6m and if interest costs are last year's £1.5m and with £1.1m on dividends they will generate enough to match last year's loan repayments of £3.1m, with any capex having to come from eating into the £2m cash balance.
No reason to sell; have enough so will not be buying.