Myhome Share Discussion Threads

[mikey_b] 30/6/2008 22:04

Unsustainable that they would expect eg £30k + ongoing commissions for a few colour coded buckets, a telephone answering service, a bit of advertising, a car and a simple bit of form filling.

SP reflects a bit of reality now, still more to factor in IMHO. BWTFDIK

[barn owl] 30/6/2008 20:42

Looks like investors have been well shafted here then!

[knowsleyman] 30/6/2008 20:29

When I looked at the accounts this morning at just after 9.00am (local time as I am 2 hours ahead of England) it was a quick read through.
I was of the opinion on a quick look that they were awful and posted a suitable comment.
Since then I have spent more time reading what has been said in them and conclude that it is even worse than at first thought.
In excess of £3.0M spent on a re-organisation, of a newly acquired business, smacks of them not doing their homework prior to the purchase, but above all, should that amount of spending, with the effect that it would have on the bottom line, not have warranted an annoluncement to the market to prevent the false market which has developed in this stock.
The Chairman and the rest of the crew rate as Mickey Mouse so far as I am concerned.

[petersmith6] 30/6/2008 19:25

and sub 10p buy the end of this week

[gsands] 30/6/2008 18:38

The next news I expect from the company is that of director buying.

[gsands] 30/6/2008 18:38

I could see this falling to 12p, from a technical point of view.

I would of course be obliged to add at such a compelling price:

[techmark] 30/6/2008 17:32

Happygolucky,

Businesses do require capital to run you know. There's no room for error here and it is my opinion that since March both economic and credit conditions have deteriorated again.

[zedder] 30/6/2008 17:28

Left a buy order in for 14p limit when I went off to work this morning. Took till 1509 to fil at 13.773p.

I'm with GSands on this one. Have doubled my holding and am looking at this on a 2-to-3 year view at present. I am confident this will turn out to be a sound investment.

[gsands] 30/6/2008 17:24

There is now a Dominoes Pizza outlet in virtually every town in Britain.

Imagine the same with MYH and you will see the potential here.

[gsands] 30/6/2008 17:23

This is the kind of growth that is possible using the franchise model:

[gsands] 30/6/2008 17:22

There are no cash problems at all.

[happygolucky] 30/6/2008 17:20

It's now the end of June - I think they would have realised they had a problem by now, don't you?? Since the end of March, they will have received monies from new franchisees and as a result, with the restructuring substantially complete (as per results), the cash position should be better now IMHO.

[gsands] 30/6/2008 17:06

I think the company have communicated very poorly with the market and now there is probably some ill feeling.

The research note from ED talked about recruiting 250+ franchisees this year.

Frankly, that number is ridiculous when you consider the work involved in getting each frachisee off the ground.

The support given to each one is huge. In addtion to an intense week long induction course, they are then immediately put into business start up mode, and for the next 3 months have daily support from MYH head office to get their businesses off the ground. I was told that so far there have been no failures. This is because MYH are careful about who they award franchises too and due to the comprehensive start up support they give to each franchisee.


Do not expect rocket fueled growth here. We don't want it.

What we want is good steady organic growth with each franchisee starting from a strong base. Remember - franchisee success is MYH success, via the royalty scheme. Also, the building of a quality brand is critical to the success of MYH.

The company stated they had recruited 50 franchisees in three months. This must surely be about as much as they would want to recruit.

I will be very happy if they are able to recruit 150 each year (£4.5m in revenue) and then make sure each one hits their 3 year business plan of £500m in turnover. With royalties of 12.5% of turnover, that is a very healthy income stream.

As the company gain market position and the brand gains strength, the growth could go exponential within 2/3 years.

[techmark] 30/6/2008 17:02

Look at how much cash is left on the balance sheet as of 31 March! That's the concern I would have thought.

[happygolucky] 30/6/2008 16:37

Pure comedy - can I ask why you think they need a rescue fundraising??

[whiterussians] 30/6/2008 16:30

what price for a rescue fundraising? 5p say i

[gsands] 30/6/2008 16:08

If you squint you can see that it has just slipped below the line..

[marycurer] 30/6/2008 16:06

i am laughing very hard at you gsands

[gsands] 30/6/2008 15:59

Yep - the mm's have dragged it to a new low.

Nice.

[brando69] 30/6/2008 15:56

anyone who cares about technical indicators will have noted that, at 13p it has now crashed through it's last line of support

oh dear oh dear

[brando69] 30/6/2008 15:56

anyone who cares about technical indicators will have noted that, at 13p it has now crashed through it's last line of support

oh dear oh dear

[lgpixels] 30/6/2008 15:46

The business looks in good shape going forward.

The current shareprice makes it a very good buying opportunity.

There were a lot of "exceptional" costs in the numbers, but the actual business looks very profitable and set for solid growth.

It looks like there were a lot of people short of stock and have made some money today.

In the short term the shares look very oversold, and we could see a bounce back to 20p.

The news was already in the market.

I would agree that a fair price for the shares should be between 40-50p, based on just 10x 2009 earnings:)

[brando69] 30/6/2008 14:54

market's got flees?

better call in My Home

[brando69] 30/6/2008 14:53

de stock no need no bashing man, im be doing dat far itself, yar rasclat