Speedy Hire Share Discussion Threads

[optomistic] 10/8/2023 09:13

Thanks for that Davious, I had missed that...
beginning to wonder what was happening :-/

[davius] 10/8/2023 08:46

Ex-div today 1.8p. Hence the fall. 4.87% at the current share price

[optomistic] 02/8/2023 23:56

clocktower...nothing like a bit of optimism in this market...
I do hope you are right :-)

[clocktower] 02/8/2023 20:48

Let us hope so Smithie6 but I only have a nominal holding , as you know I prefer high risk stocks but I guess it could double after the next full year results.

[smithie6] 02/8/2023 13:54

official price to sell is now back up to 37p.

onwards & upwards hopefully

[smithie6] 02/8/2023 10:43

(any hire equipt co. will always have a notable level of debt imo
since it has a lot of assets in equipt. which partly balances the debt & for the delay in business clients paying their bills (perhaps 2-3 months) while staff costs & other costs have to be paid on time, so cash is needed to fund that difference.

if a hire co. had no debt then its TNAV would be high & if it's shares were valued just on p/e it might be cheap & then just get bought out, on the cheap, & no instit. or dir. would want that

imo anyway

[simmsc] 01/8/2023 10:06

Nice baseline correction here. There is a lot to like about this share. Good cashflow, nice recovery story, margin improvement, over 7 percent divi yield, analysts recently moving eps forecasts up, debt will come down

[smithie6] 31/7/2023 15:29

2 trades today for 1 million shares

small spread, so looks like a matched trade, perhaps a bed & SIPP or bed & ISA trade.

[clocktower] 31/7/2023 13:36

A solid start to the week and decent volume.

[smithie6] 28/7/2023 17:04

Is HMG the client for the massive HS2 train project ?

....yes

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I see it is expected to go on for longer & cost more, which should be good for Speedy since they must be hiring out some kit for the project.

[muckshifter] 28/7/2023 16:52

Don't forget that most major contracts let by HMG have a substantial "quality" score taken into account when judging tenders, and included in the quality elements to be considered "green credentials" have long been present, and have always increased in importance to date, and almost certainly will continue increasing in importance at an ever faster rate.

[smithie6] 28/7/2023 15:24

On the plus side

The dirs are doing deals & working with partners, B&Q, Niftylift, AFC Energy.
Better that not doing partnering deals imo.

[smithie6] 28/7/2023 15:21

The structure of this JV & the Niftylift JV ?

...cloudy ..no real details imo

(In reality the manufacturers will want/need non-exclusive deals imo)

[smithie6] 28/7/2023 15:20

Clocktower wrote
"Don’t they need to prove they know how to manage the companies inventory first."

First things first ..
....management have to first prove that they are capable of not losing millions of oounds worth of inventory !!

One step at a time !

Je je.

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Just yes, I see your point.
But there is an argument for going green, since some cuatomers will want that. The current HS2 project phps. Some blue chip companies will be willing to pay the extra to be green. While I think we agree rhat most small companies selecting hire equipt will do so based on performance to do their job & cost. If the green solution costs more or has drawbacks then it probably won't get picked.

We have to hope that the dirs make the right secisions. They have incentives to increase the eps so one hopes that criteria is in their minds when making these decisions.

(A risk of dirs spending co. company to get personal brownie points or look good. Yes, a real risk. While, on the other hand, the world never stops changing & hydrogen & battery power are growing areas & wxpected to keep going for decades.
Steam locomotives. The UK used to be the biggest producer in the world & had many factories doing it. Times change.
One must change with the times or go extinct !

Germany used to make most of the cameras in the world in the 1950s. (Big names including Voigtlander, (& Rollei ?); Skopar & Vaskar lenses). They made millions.
Camera design changed to SLR cameras, looking through the lense, & changeable lenses. And the change from mechanical timing to digital. Germany didn't adapt its products & as a result its camera factories all closed.

[rumbers2] 28/7/2023 15:08

AFC Energy CEO Adam Bond speaks about his collaboration with Speedy Hire. Going forwards this sounds like a good growth story.

[rumbers2] 28/7/2023 08:55

Shares of hydrogen fuel cell developer AFC Energy jump as much as 15.8 per cent to 17p , hitting their highest in two months.

Shame the same rise isn't replicated here!

[muckshifter] 28/7/2023 07:24

I think the General Secretary of the United Nations gave you your answer yesterday clocktower!

[clocktower] 28/7/2023 07:18

Will their rush to invest in green projects pay dividends or is this just misguided and another management distraction rather than putting the basics of their business back together first and foremost before investing millions here and there to green wash and pin a badge on the boards ego.

Don’t they need to prove they know how to manage the companies inventory first.

[smithie6] 26/7/2023 17:04

price to buy moving up to >38.0p soon, hopefully.

[smithie6] 23/7/2023 14:12

yes, renumeration committees, usually incompetent.

options should really be regulated I think. Although there is a guideline booklet I think. But often ignored by companies. Many votes at companies against the options plans.

These options are not a big % of the co. so I'm not that bothered about them. And of course I don't have any power at all if I was bothered !

If the eps target is met (even the lowest target) then the share price should be notably higher than it is now & then us shareholders will be happy.

25% of 50% of the free shares if get 6.25p eps & the full 50% if achieve 8p for fin. year ending 31 March 2026.

8p eps to obtain 50% of the free shares.
the current p/e at 37p for 8p eps is 4.6, very low

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"50% of the PSP Awards will be subject to an EPS condition. 25% of this part of an award vests for EPS of 6.25 pence with full vesting of this part of an award for EPS of 8.00 pence for the financial year ending 31 March 2026. A sliding scale operates between these points; and

- 50% of the PSP Awards will be subject to a relative TSR condition based on the Group's performance against the constituents of the FTSE 250 (excluding investment trusts)......"


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it is badly written of course since there is no mention of the change in the co. debt level or gearing.
or of NAV/share, which are both surely also very relevant performance measurement quantities.
but hey, what can you expect from people on a UK Renum. Comm.

[muckshifter] 23/7/2023 12:16

Ah yes, I've read the whole RNS now Smithie, and I see your point. As a very recent buyer I was not aware of the halving over the last two years, although perhaps I should have been as that applies to many shares at the moment.

The performance targets are not very demanding in normal circumstances, if we ever get back to them, I would agree, and probably you are expected to believe that the "Company Remuneration Committee" will ensure the fair appraisal of the TSR element. Fat chance of that!

[rumbers2] 23/7/2023 10:37

Excellent point well made Smithie

[smithie6] 23/7/2023 09:54

you haven't seen the RNS ?

(2014 plan, but new options...on future perf.)

Personally
- I don't have a problem with the free shares (50% of these options) at 0p if meet the perf. targets (although one could argue they are not at all stretching if one includes inflation)

- I don't agree at all with the 50% of these share options based largely on the share price performance. That imo is just rewarding the dirs for the halving the share price from 70p to 35p in last 2 years. That cost shareholders a lot of money & dirs should not be rewarded for that.

What do other ppl think ?

[muckshifter] 23/7/2023 08:56

Do you mean those shares issued for past performance from the 2014 plan mentioned in the RNS, or a new plan in the Annual Report, which I haven't read yet Smithie?