Northamber Share Discussion Threads

[hybrasil] 02/10/2006 12:37

results must be out any day now

[Abuse team] 06/7/2006 12:58

Post removed by ADVFN

[scripophilist] 15/3/2006 11:14

Thanks for the acknowledgment kiwi. I think the management has done well I just think its in a naff sector and always have thought this.

I found this statement remarkable..

"The levels of price deflation averaged circa 17-20% and overwhelmed the
otherwise encouraging first half growth in unit sales"

20% price deflation is huge!

[kiwihope] 15/3/2006 10:07

I used to hold these but sold out last year. After disagreeing with him I now agree with Scripo. I just cannot see where this business is going to get growth from. And without growth we all know what will happen to the share price

[scripophilist] 15/3/2006 08:42

I see they have slashed the dividend after these results this morning. This part of the industry is in such a mess at the moment. The UK's biggest distie lost over 40m last year so NAR has done well against them but it is a very small fish in a big pond and a pond that is drying up in commercial terms. Good luck.

[aquilla] 06/12/2005 12:49

The price moved up so in the event I decided not to wait around for the ex div (tomorrow),where the price will likely be adjusted to reflect the dividend payment, and sold my 5000 for 93p, so making a small gain. I've no idea, after the profit warning, where this one is going but good luck to all holders! DYOR

[shaunie] 30/11/2005 09:40

good he bgought them off me

[aquilla] 30/11/2005 03:04

Scripophilist: Maybe the share price has gone nowhere but at least there has been the generous dividend! And now at least one director is making use of the recent fall to buy into the company (albeit in a small way):
"The Company yesterday received notification that Reginald Frank Heath, a non-
executive Director, on 28 November 2005 purchased 5,000 ordinary shares at
86.36p per share in the Company.



Following this purchase, Mr Heath is the beneficial owner of 5,000 ordinary
shares, which represents approximately 0.02% of the Company's issued ordinary
share capital."
What I do not understand- and perhaps someone can enlighten me- is how the company can continue to pay apparently uncovered dividends year after year.

[scripophilist] 25/11/2005 09:14

I am constantly amazed by your optimism and I am surprised you are all keeping positive. They face massive competitive pressures and yes the balance sheet is OK but the business is rubbish. During the time I have constantly posted this assesment the shares have gone nowhere.

[aquilla] 25/11/2005 07:28

Oh,oh. Profit warning not what we wanted!

[aquilla] 10/11/2005 12:28

This is a quiet thread. A bit like the share price over the last few months! But there has been a tick up in the last few days and am looking forward to the share going ex dividend next month.

[hybrasil] 09/11/2005 09:50

very few shares about. Trying to buy a few for a conservative holding.

[bowmans] 21/9/2005 17:01

aquila
I was quite pleased to see this morning that one of the two early supposed sells was really you buying, I suspect that the other transaction flagged as a sell was also a buy. If I'm right it explations perfectly why the offer price moved so briskly from 88 to 90 while I was looking at the qoute also thinking of adding to those bought before results and last year.

[aquilla] 21/9/2005 08:19

Tasty dividend. Got in first thing this morning with a 5000 buy (not yet showing)@88p. IMHO, DYOR.

[kiwihope] 16/5/2005 13:07

Not really Scripo ... they are funding the dividend from earnings. They already have no debt and a good cash pile ... why add to it with more retained earnings? I agree it would be better to invest in growing the company, but if they can't see good opportunities I'd rather get dividends than management take risks with silly acquisitions, etc. This is not perceived as a growth company. However I still think within a couple of years there may be value realised from some corporate action.

[scripophilist] 16/5/2005 12:52

"If this guess is near right then they should be able to hold the dividend at 4.1p giving a yield of 4.6% at the present price."

I think the issue shareholders have here is that the book value is shrinking (not by much for sure) but if the equity in the company is shrinking while they are still paying a dividend they are really funding the dividend using buy backs by liquidating assets. Not a smart move. If I was a shareholder I would rather they cut the dividend and only do buybacks or at least put the cash to use some other way to put some spark back into the business.

[kiwihope] 16/5/2005 11:56

A fairly modest warning but a warning all the same. Market expectations were for eps of about 7p ... management are now saying they will probably be less than this but significantly more than the 3.7p recorded last year. How much less? Well the language in today's statement is not severe and they already have 2.8p in the bag from H1 so I'm guessing they may do between 2-3p in H2 making 5p or so for the full year.

If this guess is near right then they should be able to hold the dividend at 4.1p giving a yield of 4.6% at the present price.

Obviously disappointing but profits should still be significantly up on last year (at least 30%), still no debt, good dividend yield still covered and presently a 10% discount to NAV. Sure it's not a roaring growth stock like FWY but then it never was. More a slow burner with a chance of good long-term value if sold, merged, etc.

[scripophilist] 16/5/2005 11:27

Oops!! Down 13%

As foreshadowed in the Interim Results announcement released in February, the
Directors have seen a continuation of the difficult trading conditions
experienced across the sector at the start of 2005. Accordingly, the Board now
believes that should these trading conditions continue the outcome for the year
ended 30 June 2005 might well be below current market expectations of £3.35
million profit before tax, although significantly more than the £1.8 million
reported for the year ended 30 June 2004.

The Company's balance sheet remains robust with no debt.

[kiwihope] 13/4/2005 08:47

Shares have gone ex-dividend today. That explains the small markdown by the mms on no trades ...

[quantumx] 09/3/2005 12:51

With the predicted increase in IT projects and spending this year (due to 3 years of little activity and pressure building) this could bode very well for NAR and also a potential buyer. Expect to see an offer for this one around the 170p mark.

[quantumx] 16/2/2005 09:28

Stripping out the net assets, this share is on a PE of just over 3! Still a tough market but management have always been spot on delivering the goods. Still a buy IMHO.