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One of the directors Fiona Perrin sold 400k shares on the 6th. Obviously knew what was coming
I thought the captain was supposed to stay on board a sinking ship? Must be his choice otherwise a successor would have been found already.
Don't think he had any other option,given the current state of affairs here.
Fingermouse thank u.
interesting read here BB and CC.... https://uk.finance.yahoo.com/news/good-gets-battered-growth-stocks-113341518.html ''Equipment hire firm HSS Hire Group (LSE: HSS) is down by 7% at the time of writing, thanks to a very poor set of 2016 results. Although sales rose by 9.6% to £342.4m, adjusted pre-tax profit was unchanged at £5.8m. This means that HSS's profit margins were lower. In this case, the operating margin fell from 6.5% to 6.0%. No final dividend will be paid for last year, a decision that is inevitable given HSS Hire's biggest problem -- debt. In my view, shareholders should be much more concerned about this than about any change in sales or profit margins. HSS Hire ended last year with net debt of £219.4m. To put this in context, the group's property portfolio and its entire fleet of hire equipment were only worth £178m at the end of 2016. I'd normally expect a business of this kind to finance 50%-75% of the value of its fixed assets. But this group's assets are worth less than the debt used to buy them. That's an unsustainable situation, in my opinion. HSS Hire's balance sheet looks very strained to me and I believe the firm needs refinancing. Additional debt is not an option, so a big rights issue seems the most likely option. I estimate that £50-£100m would be required to put the group on a sound footing. Given that HSS Hire's market cap is just £106m, a fundraising of this size would cause major dilution for existing shareholders. In my view, HSS Hire is a strong sell.''
Supply UK's turnover was only £15.4m in their last accounts, April 16, but they did make a profit of just under £1m! A small fish but a nice little earner and easy way into the UK market. http://www.vertikal.net/en/news/story/27836/ And on HSS results: http://www.vertikal.net/en/news/story/27825/
this company is doomed - pack your bags up and leave.
grapvine that the Boels group have entered the Uk tool hire market with the purchase of Supply UK. http://www.khl.com/magazines/international-rental-news/detail/item121310/Boels-Rental-on-growth-trajectory
Thanks BB it was the removing of the competitor that made me wonder if anyone would. Ashtead and others would achieve better rental prices without these. I get the points on valuation but the removal has a value and goodwill can be amortised over a number of years. There will be a significant fleet asset value I guess without seeing numbers ?
Perhaps Voltaire can give us an insight, he seems to know exactly what's cooking
Medic!!! How much longer can this go on?
Who, in their right mind, is going to buy over £200 millions of net debt and no profits to clear it? I heard that Ashtead were offered the Company but they laughed it off. As the report states, it's a cutthroat business environment out there with too much competition and they fight for business with prices. Something has to give in this business sector and nobody can raise prices if they want to compete, they have to lower them. Dividend cut and Suppliers forced into accepting longer payment terms in an attempt to cut the debt. HSS Directors have a tough job on to turn it around. GL to them.
Who the devil would want to take over this crock of poo even at the price now?
Any thoughts on likelihood of a takeover ? If so what price per share?
Actual TR's are £83m but represent 24% of turnover. I don't know the norm for this type of business but one would need to know the split between cash punters and account punters at HSS. Strip out the cash punters then compare the TR's against the value of the remainder to get a true picture. Perhaps the company could provide this data? Whatever the outcome and cutting through all the corporate babble this company seems to be going nowhere and it is a constant source of amazement to me that the flotation price and subsequent almost immediate profit warnings were never investigated.
How does this company have 100m trade receivables?! What is going on, would be pretty good if it could get its debtors to pay up? Can someone advise?
Being recalled to head office? That can't be true surely? Any HSS guys/girls on here to confirm or deny that?
are you able to let us know the depots that are closing? or are they closures due to the various service/super centres that have been created?
I have a list showing 31 sites for HSS are closing this week
Well Bill that's the first of your predictions proven wrong
Yeah I know where your coming from Bill have to catch my private jet later fly over to Monaco to spend a couple of weeks chilling on my yatch (streets of Monaco) before returning here to spend time letting everyone on this forum know how wrong you were
I'd love to go for a drink with you two.
Sorry, should also have said IMHO and DYOR!! Good night.
As I say, we should agree to disagree. No problem with me. I respect your opinions whilst you continue to get upset over mine. You're long here for your reasons and I am short for mine. Why can't you just accept that and get on with your life? After all, you're going to be rich on the back of this share soon, aren't you. You can gloat all you like when you've proven me wrong. Will you come back with your tail between your legs if I am right? Any way, I'm off to bed. I have an early start tomorrow. Got to fly out to Hamilton to bring a yacht back to Monaco for a Client. I'm going to be at sea and off line for at least 10 days so we'll pick this up again mid Feb. Have fun. You could also try FXI, or PAYS for a longer term bet. You've probably missed out on the best of SPE. ETO and ITV appear to be good takeover targets and possibly SCH. Do you have any other good ideas for investors? Catch you later. Have fun.