James Halstead Share Discussion Threads

[lundhousegreen] 10/12/2008 17:51

Managed to get to the AGM this year, and the board were again upbeat.
One shareholder was concerned that the upmarket tiles, which we were told accounted for 30% of world sales, had decreased in Norway and Germany, but the board advised that sales were back up again to 2007 levels in those countries, but the rest of the world sales were doing well.
A local stockbroker stood up to thank the company for all the hard work they had done in the year, and also mentioned that unlike a lot of companies who are going cap in hand for help, JHD had £29m. in the bank, which met with approval from shareholders. (Lightheartedly, it was suggested that JHD bailout the banks!)
Even though there is now more competition, including from China, I got the impression that some other flooring manufacturers are now trying to aspire to JHD quality. There may also be more sales here due to govt. investment in hospitals, schools, etc.
Overall, a very positive & upbeat AGM.

[lundhousegreen] 10/12/2008 07:56

No special divi. Prudence comes first? Sales ahead of expectations and increased interim divi expected.
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James Halstead plc, the commercial flooring company, will hold its AGM today at 12.00 noon at which the Chairman, Mr Geoffrey Halstead, will make the following statement:

'As is customary at the AGM I would like to give shareholders an update on the Group's trading now that we are 5 months into the current trading year.

I can report that the rate of sales is ahead of last year and that we have seen some, as yet modest, softening of raw material prices. Energy costs remain high though there are signs that future decreases are likely. The sales growth is both in our export markets and in the UK with the refurbishment market and government related projects remaining robust. The weakness of sterling has generally benefited our export margins though there are significant localised offsets from imported materials and finished products. Naturally we are aware of the general economic environment but believe each of the factors I have mentioned allow us to weather any challenges.

As far as the current position is concerned I can only be satisfied with progress and I fully expect to announce an increased dividend at the interim stage, setting yet another record.'

[lundhousegreen] 06/11/2008 07:33

JHD appears to defy most market forces. e.g. Ex-dividend day, up 32.5p!?

[wad collector] 05/11/2008 21:18

Head and shoulders , if you are a chartist.Not me.

[wad collector] 14/10/2008 23:08

12 months seems a very long time in this market!

Actually I think you got it the wrong way round : JHD were tipping WHIreland.

[lundhousegreen] 14/10/2008 12:11

WH Ireland kept JHD as a buy on Sept. 30th, with a 12 month
price target upped from 664p to 685p.

[bda3490] 14/10/2008 11:51

Just got my copy of Nort West Insider magazine where the FD, Gordon Oliver, is quoted as saying on AIM the management are involved in running the company and the sahre price has to take care of itself and it all comes out in the wash if the company is to be judged on its results. Based on Halstead results share price is undervalued.

[bda3490] 13/10/2008 16:56

Yes I heard the AGM is on a Wednesday - the 1oth

[lundhousegreen] 10/10/2008 15:45

I hear that the AGM is now on Wednesday 10th December.

[bda3490] 09/10/2008 16:53

They are not exactly "filling their boots" and given the money they make this Board are cheap - the highest paid seems to be on £ 200K. Have you noticed that they don't have any non-exec jobs - TAKE NOTE other plcs hire one of these and it might rub off on you.

[wad collector] 07/10/2008 13:52

Interesting time to issue directors options.Would look outrageous if they had issued at that price last month.Hopefully will look outrageous in the future too.

[lundhousegreen] 07/10/2008 13:50

Couldn't resist another 1k at these prices!

[bda3490] 03/10/2008 12:20

I think that the drop is over done

[bda3490] 02/10/2008 10:56

Like the beer LUNDHOUSE GREEN
I bet you go to the Halstead AGM. First Friday December regular as clock work.
But I hear that someone's booked the venue for a wedding and the AGM is moved to a Wednesday and there might not be a bar !!!!!!!!!

[bda3490] 01/10/2008 13:14

It only takes a couple of sellers is a foreign country (Scotalnd) to be a bit daft dripping stock into the market over 4 - 5 weeks to have this effect. Plus AIM is on a back seat while veryone watches the spectacle of markets flapping.
I think its 60 years as a listed company for Halstead and the out did the forecast made on the trading update by their in house broker on the 30 June - hows that happen. One could speculate that they planned on announcing a bit less but couldn't find a reason. The quality of this results must be sound 'cos Halstead have been knocking out 34 years of dividend and a staedy growth through 3 recessions - what betting on a fourth?????

Hey if the shares don't pick up they might even buy back as they did 6 years ago

[wad collector] 01/10/2008 09:57

We'll keep the faith then.Unfortunately I have no free cash left to buy some more, to follow the director buy.
Still , one of the few of my holdings still in the blue.

[lundhousegreen] 01/10/2008 08:06

Cheers! A Young's might be in order!




I have bought JHD shares on a very long term view, and are currently my largest holding in my portfolio. As well as the tasty dividend, the nil gearing caught my eye, not many companies can say that! Maybe a special dividend at the AGM???

[zeppo] 30/9/2008 19:07

The drinks are on Lundhousegreen.

He has been topping up.

JHD now wiping the floor, or wiping out the other flooring companies, in India & China.

Still massive growth potential.

z

[superstardj] 30/9/2008 18:11

In a note to clients today reuterating its buy recommendation, the broker WH Ireland described Halstead as 'The Crombie Overcoat of Investment: Seldom high fashion but never fails you in a storm' The note concluded 'With a historic free cash yield of 8.2%, dividend yield of 5.2% and prospective PER of 9.7, the shares look undervalued. Our DCF valuation model projects fair value of 685p per share. We maintain our 'Buy' recommendation.'

[midasx] 30/9/2008 10:24

Outstanding results again with a very positive outlook and the shares fall again?

In this market there is no sense or sensibility!

The world is officially MAD!!

[lundhousegreen] 30/9/2008 07:16

Tremendous results.! share price about 40% off the highs. Nil net gearing'
Got to be worth a look at now?
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* Record revenue increased to £158.7 million (2007: £137.3 million) - up 15.7 %
* Record pre tax profit increased to £29.9 million (2007: £23.5 million) - up 27 %
* Record final dividend per ordinary share proposed of 14.50 p (2007 : 11.25p) - up
28.9 %
* Record earnings per 5p ordinary share 39.7p (2007: 31.1p) - up 27.7%
* Record cash inflow from operations of £ 27.3 million (2007: £26.3 million)
* Nil net gearing
Mr Mark Halstead, Chief Executive, commenting on the results, said:

"I believe this is a very commendable performance as our strategy to focus on shareholder
value, as delivered by solid bottom line
performance, continues. Despite adverse raw material and energy cost increases we maintained
the gross margin with our premium products
delivering record turnover on the back of strong sales representation and initiatives.
Conditions remain challenging but notwithstanding the uncertain economic backdrop I look
forward with confidence to building on this
year's success."

[lundhousegreen] 13/9/2008 10:02

There is one largish seller, and the shares are being drip fed into the market, with few buyers for the shares, as yet.

[wad collector] 12/9/2008 18:30

I suppose that , if the special dividends are not forthcoming, the yield is not that impressive in todays market .And, perhaps unfairly , is viewed as a building related share.