Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
Whilst HRMS disappointing it only reflects the current state of the German economy.
Other divisions are trading well and the surprise, almost as an aside, is the dividend increase of 70 odd % "for the foreseeable future."
At a forward yield of 8%+ I am topping up.
What's not to like? Strong revenue increases in Services, good results in Land and promise of a return of capital to boot!
The latter plus the continuing German contribution probably points to a yield of circa 9% over the next few years.
Expect a rebound when AIM starts to get more positive after 2 years of decline.
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.
Thanks Normastits.
Based on what Martin has paid suggests the RIV share price should be north of £3.
Anyway, will wait and see what develops.
So, Schroders has bought a large slug of RIV for £200 + million.
The rump now goes to Asset Co, Gilbert's vehicle for £98.8 million.
Nothing left to sell!
Why should I hold the shares? What else is going to move them up?
Where does the Schroders money go?
Perhaps Forensic can give me a clue?
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!
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.
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.
Have been a great believer in this board's ability to create value. You can detect Harwood's influence in considering the offloading of HRMS. With ultimate substantial cash resources further acquisitions are possible.
Having stabilised the business post coal this company is now in an exciting "growth" phase.
Exciting times!
Certainly going to be a set of bumper results. One should be mindful that of the 20p likely divi payout, 12p of that is from the German Co. Nevertheless, that 12 p looks likely to be an ongoing annual payment. Very impressive turnaround from coal!
Even now I reckon Simon Thompson is being cautious. The land is on the balance sheet at cost and I am sure one can calculate an SP for the land and come up with a NAV well in excess of £4. No reason why dividend reset at 20p will not increase over the years. Having come out of coal, turned round the company and almost eradicated debt the way ahead looks positive.
I am sure we will. The German operation looks healthy with the parent about to begin taking a regular dividend stream.
NAV is just over £4 and that includes land at cost. Provided no slip ups what can go wrong??
Some good news for a change. With the share price still well below nett assets and some extra divis coming from Germany in 2021 year this might be the turn around point in HSP's transformation. Oh, plus gradual releases of the expanding property portfolio. Fingers crossed!