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Why would Mr Shearer swap sides for this lot? If he's got anything in him he should be sitting pretty at SDY. Now, if SC got the job here, and why shouldn't he as he was shafted by SDY for pathetic reasons, then I would buy in here in a flash. It would not surprise me if he did. He's the type of person that HSS needs.
Perhaps tosca should of been making a fuss about hss last summer instead of speedy. Makes you wonder why they stuffed some more change under hss' mattress post apocalypse? I wonder whether Dave will make a move to the blue team around September time.....
Is there a profitable division to sell? Even if there is they couldn't afford to sell it. A Rights Issue would need to be substantial, £150m+ (?) and that would dilute share value substantially. The only people likely to buy would be II's and desperate PI's who think that averaging down is a good investment strategy (LOL). Would anyone want to risk more money on this? Unlikely. They need a new CEO with drive, vision and focus who can restore confidence and profitability to a business that has huge competition on both prices and service levels. The appointment of anyone who does not have a proven track record of turning a business around will see the SP dive even further IMHO. It will be interesting to see who wants the job.
How to turn it around with no cash. Sell a division? Multi million £ share issue?
I dare say HSS are not the 1st and won't be the last to have turbulent times. I would agree appointing business folks that haven't had a great track record is not the smartest move. Hewden, phones4u....yes they have a common trend, but maybe the next few months will be a shake up??
Thought we'd got rid of you, you and your boyfriend red army go back to the SDY board, you have no shares in this company just trying to stir up sh it, leave HSS alone, this company if given the chance will turn things around.
FFS If that happens then I'll be calling it quits and selling up at the current awful share price but at least before they disappear into oblivion
Adrian Murphy?!!! Like putting the fox in charge of the chickens. Does not understand hire one little bit!
Fair point, a dead magician would probably do a better job than the current lot of cowboys running this company
"...board believes it is the right time to look outside the business for a new CEO who can lead this next phase of our recovery," Chairman Alan Peterson said in a statement. At least he was honest enough to admit that they are in trouble. I don't know about the ex Hewden's chief but I do think that they need a Paul Daniel's type of character to get them out of this hole.
Is the guy that single handedly took Hewdens down !!
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.
http://rermag.com/international-news/europe-s-boels-rental-acquires-supply-uk-group
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?