Member Info for Hardboy

"...but an updating RNS would certainly help!"

They usually provide a pre close trading update in mid March. No need to vary from that unless the outlook has changed,

I think the fall is overdone, though not unexpected. when they use the word "unsatisfactory" to describe Q4's performance you know the shares will get hit. But I don't think it's that bad. Next year they predict similar rises from health & Hygiene (~ 5%) & nutrition to return to growth. Full of strong brands & I've been doing my bit with Lem Sip & Strepsils this year!

I think after the dust settles we may see a steady climb up to the next announcement!

Things are tough - as expected, but mortgage rates will come down, a Labout Gov't may incentivise house building sector. So the long term outlook given the land bank & cash position is very positive I think.

Interestingly the CEO of Skipton Building Society was on Business Live this morning. He said he had never known a time when the selling price to asking price ratio was so high. (i.e house sellers get what they ask for.)

Although it's a small [part of the business - Spain seems to be doing brilliantly.

This is the email I got about it. Should still be available as a recording.

"This is a reminder that THE RENEWABLES INFRASTRUCTURE GROUP LIMITED will shortly be holding the meeting Full Year Results at 2:00pm.

To join the meeting, click on the button below to accept the meeting invitation.

Accept

Should you have any questions, please contact support@investormeetcompany.com.

I believe it has closed at an all time low. This when they have never had a greater work load. Seems a bit bizarre

I'm not sure an election will have much effect on H&T's performance. The economy will still be in a mess, people will still be struggling with their finances. Ideal situation for Pawnbrokers to flourish.

Who's Harry of these itunes clips?

Article from Master Investor on H&T today. I'm a bit more reassured after reading this. Amy even add a small amount before the finals.

"H&T Group (LON:HAT) – £11.3m Cash Buy And Additional Funding

My long-term favourite pawnbroking group yesterday announced £25m of additional financing from Pricoa Private Capital, to be used to support the future growth of the business.

The UK’s largest pawnbroking operation also made an £11.3m cash acquisition of Maxcroft, the Gants Hill, Ilford-based pawnbroker.

It has a £6.1m pledge book, with an average loan of £4,063, almost ten times larger than that of H&T’s £423 average loan.

CEO Chris Gillespie, H&T chief executive said:

“We are very pleased to be able to announce these two transactions, both of which underline the Group’s focus on growing and broadening its core pawnbroking business and investment in the store estate.

We are also delighted to have further diversified and enhanced the Group’s funding arrangements through the relationship with Pricoa.

We look forward to updating the market further on the 12th March, when we announce our results for the year ended 31st December 2023.”

Analyst Gary Greenwood at Shore Capital Markets considers the Maxcroft deal to be moderately earnings accretive.

His estimates for the year to end-December last, are for adjusted pre-tax profits to have risen to £26.6m (£19.0m), with earnings of 48.4p (37.2p) easily covering a dividend of 17.0p (15.0p) per share.

For the current year underway he goes for £33.5m profits, 57.4p earnings and a 19.0p dividend per share.

I still rate very highly the prospects for this £165m-capitalised business – as far as I can see its shares, which touched 389p yesterday, are a real bargain at last night’s closing price of just 370p.

Having broken through my 500p Target Price in late October last year, before easing back significantly, I now feel that the shares are ready for another upward climb.

(Profile 06.07.22 @ 332.5p set a Target Price of 400p*)

(Profile 30.01.23 @ 429p set a Target Price of 500p*) "

All good positive points, Lord, my first purchase in 2020 (I had been in before, but think I sold at the start of covid) was at 235, and have added several times since, because I was increasingly convinced by the outlook and the capability of the BOD. This recent deal has just got me slightly concerned; but I will not do anything till the results, and I will read them with a lot of care. Good luck.

I think today's market reaction is more in line with ours yesterday. I really hope the finals next month inject some confidence back into the share.

Milne,

"So if anyone can explain to me why a share can go down well over a third to 150 in less than a month with no bad news coming out" Share prices move because people & institutions buy or sell the shares, not because of a company's prospects (in the short term at least.) To quote Keynes, "Markets can stay irrational longer than you can stay solvent." Nowadays more and more folk (including brokers) use technical analysis to decide on buy or sell decisions, and a big factor in technical analysis is momentum, so if a share starts going down the technical traders sell or short it, if it starts going up they buy. This tends to mean trends overshoot their logical extremes. It can be heaven for short term traders.

Hope that helps.

As for "I have no choice but to hold this share" - you always have a choice. If you have lost confidence with the company always best to cut your losses no matter how painful. At least it would give you a lovely capital gains cushion!

And finally "magic Chinese golden goose deal" - Bosch are German, Doosan are Korean, Delta are Taiwanese. Weichai are major shareholders in Ceres and want them to do well. You obviously built the Bosch/Weichai deal out of proportion.

I agree, lord, skipping through on first reading it seemed the new loan is a high fixed rate, and it's double what they need in the short term for the acquisition. It was only last July they increased their overdraught limit by £15m. I can only hope they know what they are doing and the investments they are making over the coming month will yield much better returns than the cost of borrowing.

And again, what other assets are being purchased apart from the pledge book? There is an awful lot of cost in the extra bit, what is the value? Maybe the site?

Like you I am reassured that the market reaction so far is positive.

Yes the share price had flat lined for months then in November it began creeping up - no news that I've seen, and volumes are as low as ever,

Hope there is good news behind the rise.

I agree, but your holding has still been diluted.

Just had a quick flick through them. The results look good - double digit growth in sales and profit with profit growth ahead of sales, and halving the debt - all very good. And the promise of energy switching income to boost sales in the not too distant future. Surprised that money was lower than last year, despite it being such a bumper year for the sector. With interest rates high looking for best deal on loans and savings I would expect to be crucial.

However, a little bit concerned about the outlook statement - it was a bit like "well we hope we can meet current expectations" rather than "this is how we are going to exceed expectations." So a bit weak, and in current markets any sign of weakness tends to send shar prices lower.

The problem with investing in any business before it is making a profit, no matter how attractive the prospects, is they need cash to build the business so they can make profits. Invariably they have to raise more and more capital, so either your investment is diluted, or you start putting more money than you want to risk into the business.

" If everything was going well and a bumper RNS was about to be announced there would be a lot of buying, there is none."

Mainly because if people have knowledge of good news before it's released and try to profit from it, they will be guilty of insider trading - banned from ever holding a directorship, and fined more money than they would ever gain.

The Ukraine war put oil & gas supplies in jeopardy, so increased the need for alternative energy sources.

They announce the dividends and results separately. The 2nd dividend was announced 3 days before the interims. Last year finals were announced on 22nd Feb, and the dividend announced on 2nd. This year the results will be announced on 28th. So it looks like they announced the finals on the last Wednesday in February. I guess the dividend will be announced any time between now & 28th.

Thanks. I thought you meant recent, since the Mondi deal hit the news.