As II seems unwilling or incapable of giving us these......this is todays RNS...nicely positive
James Halstead plc, the commercial flooring manufacturer and distributor, is providing the following trading update ahead of its interim results for the half-year to 31 December 2017.
Turnover has increased by 5%, boosted by a strong December, and profit is in line with expectations and in excess of the comparative half-year. Having achieved revenue increases in the majority of our key markets, including Germany, the UK and Australasia, this has resulted in a record level of turnover in the half year.
In his AGM trading update, on 1 December 2017, Mr. Geoffrey Halstead noted that trading to date had been in line with our budgets albeit against competitive headwinds. In particular, the central European markets (the principal of which is Germany) have been very competitive with very keen pricing. However, in early January a German manufacturer entered administration and announced the closure of its sheet vinyl and tile facility. This closure is expected to take place imminently and this should ameliorate the pricing pressures we have been experiencing.
Product development continues and we have refreshed some of our key ranges and presented them to the trade in recent weeks. Given the positive feedback, our confidence for the full year is unchanged and remains positive.
"Let me share with you my internal monologue on LSE:JHD:James Halstead, a company I've wanted to invest in so long, it's doing my nut in.The globetrotting company's annual report is an annual highlight. The business monotonously earns humongous ..."
Some great points in the interims.....increased divi, cash levels, optimism following trade fairs and exchange rates for sales.
But some things just causing a little more wariness......reduction in EPS, UK destocking?, one company they supply taken over by private equity and the hope (not expectation) they will resume normal purchase levels. Also exchange rates will increase materials costs.
All in all, while I wouldn't want to add to holding at the moment I also wouldn't want to sell because of long term record of company, so perhaps just a hold.
"LSE:JHD:James Halstead is an improbable firm. It makes extraordinary profits from manufacturing a boring everyday commodity. It tells the competition how to do it, yet in terms of profitability it has no peers.The company manufactures the ..."
" Some of the companies ranked highly by the Decision Engine have questions to answer.Three years ago LSE:ANCR:Animalcare, which supplies pet medicines and other products to veterinary practices, started an investment programme to enhance generic ..."
A lot of truth in what you say Games. I wd expect a period of
Flattish performance while the business catches up with the price. Still I am not a seller cos of capital gains tax and long term faith in future growth, based on its steady record over 20 years plus.
My thoughts -- great company with a long and steady history, however, because of the dearth of other good companies around - perhaps unfair, but has some truth -- the share price has been bid high and is still quite expensive :-
1. the P/E at 24 is very high with a projected EPS growth of just 3% current and 6% next year.
2. Yield is OK at 2.9% but the cover is only now at 1.4 so this is getting close to the bone.
3. Directors have been net sellers over the last years and most recently the FD offloaded £417K's worth late last year at 460.
On the positive side, operating margins and return on assets are high, showing what a quality company this is. This would be on my list at 300-325 level.
"In another four-day week, James Halstead will report. One analyst reckons investors are in for double-digit dividend growth.Monday 28 March - Easter MondayAGM/EGMTurkiye Is BankasiTuesday 29 MarchTrading statementsArtilium, Public Power ..."
Yes there have been (several I think) stock splits. They have a history of preferring a manageable share price so they split the shares when they get a bit valuable. Don't really understand the reasoning myself but it has been their long-term strategy. It also explains why the eps has not appeared to do very well.
Hi Games yes the recent share price performance has been desultory - flat and or down. My experience has been I bought in August 2003 and the share price since then is up 320%. In addition it has never failed to increase the dividend annually, has always paid more than 3% yield. On top, every few years it pays a special divi. I agree this performance is not spectacular - BATS for instance have done much better for me over that period. But it is a solid decent performance and if all my shares did as well I wd be very very happy. The company remains debt free, is growing steadily and throwing off cash. I think it will never ever have a growth spurt or shoot ahead. It is just a solid reliable grower over the years. At least, that is how I see it and I remain a holder for this reason. John Lee likes it too and I respect his skills.
gravy, just joined the board to start looking at James Halstead after reading John Lee's portfolio stories in FT.
One thing that should not be forgotten here is that the share price appears to have been falling for 10 years, or at least it's at a level of 10 years ago having risen and subsequently fallen.
Also it's earnings per share is half what it was in 2012 (29.4) versus projected 15.9p for this year ending 30th June 2015. What went wrong here?
There are seeming strong characteristics like ROCE 43% and Profit Margins at 18%.
The dividend yield at 3.3% is respectable, but the dividend cover has shrunk to just 1.4
The P/E at 20.9 is higher than it has ever been and it's growth rate is forecast in low single figures.
Any views on any of this are welcome, or reasons why James Halstead is likely to blow the doors off and show strong growth in the future?
Based on its long term record, there can be little doubt that James Halstead is a good quality company but whenever I checked the share price, it always seemed to be a bit too high to buy. It is certainly no cheaper now, but what has encouraged me is the fact that cheaper raw materials, growth in the UK economy and the flood of euros from the ECB are all likely to help the company's growth so I have taken the plunge. I also believe that the company has quite a few of the characteristics (though certainly not all) that my favourite fund managers, Terry Smith and Nick Train, look for when they are assessing a company and I certainly like its profit margins. The significant family ownership is also comforting as this should ensure that the company will continue to avoid too much risk and that it will stay on AIM to retain the inheritance tax benefit.
"This week: James Halstead, conviction investments and the âthought virusâ thatâs attacking a weakened global economic immune system.Flooring manufacturer and supplier James Halstead reported its full-year results earlier this month. As usual the ..."
Everywhere I click there you are banging this incessant drum, sorry mate but I'm weary now. 4000ish people is nothing and I do think shorting has it's place. You have you're right to your opinion and me to mine, but I'm fed up with being forced fed yours day after day.
* Bookmark the links if you wish to 'pass the LINK/s on'.... or read later?
* The Campaign is specialized among the investing fraternity only. The population as a whole would hardly vote for a ban on shorting...most people have never heard of it, have they?
Whereas, the other Govt epetitions command votes from the *general population..and if you check, NONE are doing better than a handful of votes !
Deramping SHORTERS !
Shorting a rising stock....is much worse when it is done by your resident posters that seemingly are your buddies and convince 'long' holders to give up!
What many pi's fail to grasp is the extent that shorting is taking place. Often we tend to think that the 'shorter' is gone, 'he' is out of the way? You'd be wrong in most cases, for ( he ), the shorter, is often joined by others that keep the stock down !
Some stocks fall after GOOD NEWS!
The main reason for many pi's selling, is they are afraid they'll be left in losses AND because they FEAR shorters !
Consolidating shares often sees the sp fall as the *multi-bagger potential is greatly reduced. Shorters know this and will take full advantage to get 'longs' to give up and sell !
Investors that have put stocks into their ISA's or pension funds?...HUGE losses again!
* Once pi's know the stock is being shorted...they'll SELL UP IN THEIR DROVES !
We can't both WIN !
The 'shorts' therefore 'win' their bets, whereas the 'longs' lose the best part of their investment, possibly for some time to come......and just when you thought this couldn't go any lower, THEY'LL SHORT THE STOCK AGAIN !
* Thanks for all your support. We are now heading towards 5,000 votes!
* Investors are saying something? They are voting in their hundreds !
# The big problem with shorting is that THEY (the shorters) WOULD most likely lose most of their money IF they just 'bet' on the price going down without trying to 'help' it down?
'Catch 22' .... No one would know of an RNS to be released that will contain BAD NEWS, if they did and then 'shorted' the stock, then they are guilty of 'insider trading'.
The only sure way to short a stock and WIN is to spread dis-information to defame the company with help from other posters that are in concert with them. To ENSURE that they don't lose the biggest part of their 'short', ironically, then, they must deramp with (seemingly) believable posts.
* When the pro's do it, they simply get the media or well known 'crooked' tipsters, analysts or brokers to do it for them. (say no more).
# The campaign against shorting is for the benefit of the 'cheated' investors that cannot control their investments due to the dirty tricks played out by co-ordinated shorting !
The results will be reviewed by Govt legislators for further action! The FCA will be asked by Davide Serra to conduct an investigation into short selling practices, with the view to either ban short selling, or to be better regulated !
"The week's portfolio news and analysis, noteworthy items published elsewhere and a debate about whether arch-value share Finsbury Food is a speculative investment.When a share is speculativeCorrespondent Michael Nitzan queries my categorisation ..."
Sorry, but after the recent posts on "why the fall", I couldn't resist asking this question. Are there any new facts known to anyone? Or was it more that in a thin market, the "negative" parts of the message in the last results outweighed the "positive" and led to an oversell which is now being corrected?
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