Slingsby (h.c.) Share Discussion Threads

[valhamos] 01/2/2003 21:51:00

H.C. Slingsby plc.

This £18m T/O company's principal activity is the supply and manufacture of commercial and industrial equipment covering materials handling, storage, access, safety, security, packing, and dispatch, cleaning, waste, food service and office fixtures. The manufacturing division produces a variety of products encompassing handling, storage, and access equipment and many purpose built items.

Hardly sounds an exciting story does it ? But the P/E is 6.85 and dividend yield is 5.5% which has to be good value in anybody's books and dividends have doubled over last 8 years (average increase 9% pa) This with the doubling of the share price gives a total return of 15% pa average.

See the earning & dividend history at

It is trading at book value (£5m market cap and no debt). It was established 120 years ago, and has been a public company since 1961; several of the Slingsby family are still on the board. However if you look a bit closer the impression is rather different from that of your typical small long established family run company. Although little newsflow the company does seems to be developing the business and successfully investing in its marketing and information systems.

It recently added ecommerce (see website ). Prior to that they have invested in CRM (Customer Relationship Management) systems and they are reaping the benefit of more cost effective marketing and improved service levels (see

For 6 months to June 2002, profits were slightly down because of lower sales in 1st quarter, but by the time interims were announced orders levels had recovered and were approaching the previous year's cumulatives.

Also recent director buying - the chairman increased his holding by 50% (albeit they were shares the company pension fund were forced to sell because it had reached the 5% of scheme funds limit). Closely held shares 22%

There is a problem with the large spread when buying the shares, but I don't think it should put long term investors off.

Results due end of April for year to December 2002.

DYOR

[skyracer] 28/11/2001 13:42:00

When I first invested in this share the spread was 20p. For a long time now it has been 80-100p which is far too much to consider investing further in this share as it means an instant 20% loss on investment.