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Cash offer 62% higher than yesterdays close! The signs were there this would be snapped up but that's quite a premium.
Why ?
Oops, my link got removed. Here it is again: https://riverotter.co.uk/2019/11/15/iconic-publisher-of-haynes-manuals-up-for-sale/
What could this fetch on the market? 70 million pounds? More? Bit sad to see this company up for sale because I've appreciated its solid management, consistent dividends and growth following a tricky transition. Some more thoughts here: https://riverotter.co.uk/2019/11/15/iconic-publisher-of-haynes-manuals-up-for-sale/
My AGM notes here:
https://cube.investments/haynes-publishing-group-hyns-agm-report/
My latest thoughts here:
https://cube.investments/haynes-publishing-group-firmly-in-top-gear-hyns/
He was a lovely chap...
-- BB --
There is a detailed report on Haynes recent AGM which can be found in our members area here: hTTps://www.sharesoc.org/members-area/ To access the report, you'll need to be a full member of ShareSoc, which is a not-for-profit organisation that supports individual shareholders and campaigns for shareholder rights. If you're not already a member you can join here: hTTps://www.sharesoc.org/membership/ Once you've joined, you'll receive an invitation to register for our "members network" private social network, from where you'll be able to access the report (and reports on 100s of other meetings). If you're already a member and have any difficulty accessing the report, please do not hesitate to contact us here: hTTps://www.sharesoc.org/contact-us/
are a quality brand and I'm sure they will find other solutions to increase their profitability.
& Goes Ex- Divi' again this Thursday, the 15th, for another 4p = 3.64% ( payable = 05/11) .........Annualized dividend = 7.5p = 6.8% Shame the Interweb is killing the business as it's a fine Divi' Payer !
...for 3.5p ...Annualized dividend estimated at 6%
Seems to make eminent sense, buying up a "digital platform designed to engage with younger motorists." https://bdaily.co.uk/finance/17-02-2015/darlington-media-production-company-acquired-in-045-million-deal/
Financial Highlights · Total revenue of £11.9 million (2013: £14.9 million) down 20% · EBITDA down 44% at £1.9 million (2013: £3.4 million1) · Operating profit of £0.3 million (2013: £1.9 million1) · Profit before tax of £0.1 million (2013: £1.6 million1) · Basic earnings per share of 0.2 pence (2013: 6.1 pence1) · Interim dividend declared of 3.5 pence per share (2013: 3.5 pence) · Local currency North American & Australian revenue down 17% at $10.6 million (2013: $12.7 million) · UK & European revenue down 21% at £5.4 million (2013: £6.8 million) · Net funds2 of £0.4 million (2013: £0.7 million). 1.2 million ordinary shares still held in treasury · £1.2 million invested in digital product development at HaynesPro "It will not meet market expectations for the full year" Too much free on line competition in the car repair market in my view
...& Twice the average (rather modest) volume Could well be really rather interesting Interims...this Thursday the 29th...
Good set of results today. would buy more if it weren't for wide bid/offer spread.
The bid/offer spread on these is increasing. Is there a reason for this ?
Car manuals specialist Haynes Publishing warned that first quarter revenue fell 9 per cent from the same period last year and if the same trend continues first half results will be hurt. UK sales were hit by weak orders as retailers snapped up the popular Fifty Shades of Grey novel, the group said. Haynes said: "There is little doubt that during the period retail purchasing budgets were tight and that much of those available budgets went towards the phenomenally successful Fifty Shades series." UK & European revenue ended the quarter 10% down on last year. Sales at its core printed automotive manuals fell 12% while sales of its non-automotive tiles ended the first quarter 21% down on the prior year. Revenue from the North American & Australian operations, in local currency, finished the first quarter 11% weaker on the same period last year, as sluggish orders from a small number of key customers continued to affect sales in the US. On a brighter note, sales of technical data to the professional markets by HaynesPro surged 17% in the quarter.
26/01/2012 Haynes Publishing has seen a fall in both revenue and operating profit for the six months ended November 30th. Revenue fell from £15.7m to £14.3m year-on-year, while operating profit dropped by a third, from £3m to £1.9m. Pre-tax profit was £1.8m, compared to £2.7m. However, the period did see a strong generation of net funds, at £5m compared to £3.8m in the same period the previous year. The firm declared an interim dividend of 6.2p, the same amount paid at the same date in 2010.
CONT Haynes saw revenues from its UK and European operations up 10% in the 13 weeks ended 31st August 2011. Lower levels of book returns in the Haynes Books division helped increase gross revenue in the UK, while in mainland Europe new contract gains helped to increase revenues from the Vivid business. Sales from the company's North American and Australian operations ended the first quarter 16% lower on the same period last year, the largest contributor to the shortfall being "miserable" trading conditions experienced by the US in July. The group feels that most people and businesses adopted a "wait and see" attitude to most purchases following uncertainty surrounding the debt ceiling fiasco that played itself out in Washington. Overall, total group revenues ended the first quarter down 8% against the prior period. In terms of strategy, the US business continued to develop Haynes Manuals On-Line, a project which involves converting the top 50 selling US printed manuals into electronic format. In the UK, initial steps were taken to convert a sample of UK manuals into electronic format, while the management of Vivid travelled to Brazil to follow up research comissioned on the Brazilian automotive aftermarket. The company added that, apart from a £500,000 increase in cash to £5.9 million, there have been no significant changes in the financial position of the group since the recently reported results for the year ended 31st May 2011. The shares now trade on a historic multiple of just 7.4 times, yield a chunky 7.3%, with net cash covering 17% of the market cap. Haynes remains a quality value stock. Buy.
Haynes Publishing (HYNS) - buy at 213p Still going strong after more than 50 years in business, Haynes Publishing (HYNS) is a specialist in the production and sale of automotive and motorcycle repair manuals. The guides are highly detailed and written by experts, containing step-by-step photographs and information on how to maintain and repair a wide range of vehicles. Since 1960 over 150 million Haynes Manuals have been sold. The company currently has two editorial facilities, one in Yeovil, England and the other in the US near Los Angeles, with a typical guide taking around 20 to 30 man weeks to write. Guides have so far been published in 15 languages, with there being around 300 UK car manuals, 130 motorcycle manual titles, along with equivalent ranges for the firm's core US, French and Swedish markets. Haynes has also branched out from the core motor vehicle and motorbike books, offering a vast range of titles on other subjects such as cycling, DIY, health and history. Alongside the core Haynes business is Vivid Holdings, a Netherlands based supplier of digital technical information to the motor trade.
Buy Haynes Publishing Group (HYNS) at 244p Says The Small Cap Shares Team Evaluation Haynes is not a business which is going to set the world alight. But it has a dominant position in a niche market which has proven relatively resilient to recent economic troubles. The market is looking for the company to post full year results to May 2011 slightly higher than last year's numbers. Pre-tax profits of GBP7.2 million are expected and while the firm only made GBP2.75 million at the pre-tax stage we note that it has a traditionally stronger second half. If forecasts are met Haynes will trade on a modest price earnings multiple of 8.2 times. However, if we value the company using a measure of cashflow, the investment case looks a lot more compelling. Haynes trades on a multiple of just 2.2 times net operating cashflow for the last financial year and at 3 times the average net annual cashflow posted over the past 5 years. The dividend payment, which looks safe and should be maintained, is decent, with the shares currently yielding 6.4%. BUY