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The Board expects to report its interim results for the six months ended 30 November 2022 on Wednesday 25 January 2023.
Tis the same tiger and i too remain in at LPA and i have bought them all the way down.
Judith Mackenzie (Downing) on HSP on Vox Markets : minute 9:48
HTtps://www.**********.co.uk/articles/vox-markets-fund-manager-series-judith-mackenzie-of-downing-asset-management-f6461eb/
I think HSP were hoping for the lower Thames crossing contract, but with cuts on the agenda the contract could be delayed.
Seems mid caps are recovering somewhat, helped by the stronger pound, and slightly better government prospects.
Many of these stocks were shorted over the last couple of months, and this is why many of these are ticking up now.
Hopefully HSP can start its way back over £4 now, but I wonder if there is extra upside here due to the Sunak effect. The leveling up agenda is all about building big infrastructure, so possibly a better outlook for HSP. Just a guess on my part.
Hi CasTiger.
Just curious if you name has any connection with CastlefordTiger or was it CastleTiger?
A poster I used to see when I had an holding in LPA years ago.
HSP, I agree with the oversold view, I’ve held 5000 from 269p since 3/12/20, soon to receive my 2nd large dividend, bringing in £2000 in total since purchase date.
I think dragged down in a weak market this is now far too cheap at just over 1/2 NAV
i have been buying heavily
tiger
HSP is a good outfit but getting hit like most everything else.
400ish looks like a good entry point but it's levelling out around 430.
How long to a recovery - 2 years maybe? Groan.
Well as we can see Rotto was correct to sell like the Directors
Last few years have been transformative. Solid results with nav at 563. Dividend and special dividend provides a good return. Plenty of upside
Great results and even without the German contribution the core business is getting into shape.
NAV still only around the share price so as well as good divis I am certainly looking for upside towards £6.75 over the next 18 months.
I wonder if sub 400p will be seen? 350p would be a delight.
The more important guide Rotto was the purchase of 16,500 shares by Non-Exec Chris Jones on 21 Dec which was right on the limit of the close period. He knew what was coming and so I topped up too!
I agree Russellba........ the guy had a typical incentive of free options and as you say, it's all profit.
If he had inside knowledge he would not have sold.
Their numbers were great and having been a holder since the coal days if it's a boys' club in charge then long may it continue!
He’s not a Board Director. The option exercise has nil cost so all profit.
They have to cash in at some point.
Indeed, it is a tricky enough market without someone who knows better than anyone what shape the business is in. ( if in doubt get out )
I decided to sell as well, just got a better price than him, so happy with that. I like this business, but have never liked the the boys club in charge.
Back into the watch list it goes, will re enter closer to 400p or watch the sp sail off into the distance, lets see.
Director exercises his option - then immediately sells. Confident?
Thanks, rotto.
The 12p is a special divi from the German operation and will be paid "for the next few years" at the time of the final divi in October. There is also a possibility of a capital return if Hargreaves relinquish part/whole of their German shareholding.
I don't quite understand the 12p dividend thing. Is it to be paid as a special for the next few years? And if so, when?
Agreed rotto, very pleased with today’s results, and now holding onto to GmbH for the foreseeable.
“ The Board has increased its expectations for financial performance in the current and future years materially and I look forward to reporting further progress in due course."
Says it all really, happy to keep holding.
Patience is being rewarded with a dividend increase and a few years of special divis from the German operation.
The diversity of the business almost makes it a mini conglomerate which is no bad thing provided the management team exercises strong leadership and financial control. Still trading at less than NAV I am still a long term holder.
The future looks promising.
Thanks for that, Troajan. It's about time there was some encouraging news for HS.
Downing Strategic Micro Cap half year report comment :-
"Hargreaves Services Plc provided an unrealised gain of £2.3m during the period, resulting in a substantial holding (11.7% of NAV at the half-year date). There were no additions or disposals in the period. We remain confident in this position and are supportive of management in their strategic direction of the company, understanding that, due to commodity prices, 2021 may have provided some windfall profits."
HTtps://www.investegate.co.uk/downing-strategic-micro-cap-in--dsm-/gnw/dsm--half-yearly-financial-report/20211101070000H5442/