Mongrels
07 Jun 2018
Capital Markets Day Presentation Capital markets day presentation link below:[link]
forwardloop
06 Jun 2018
Info www.proactiveinvestors.co.uk/companies/news/198380/harvey-nash-hits-three-year-high-as-tech-staff-demand-soars-198380.html?utm_source=Sign-Up.to&utm_medium=email&utm_campaign=7163-376850-PROACTIVITY+-+06%2F06%2F2018
idontwanttolose
15 May 2018
Acquisition of eMenka NV (the "Acquisition") Harvey Nash, the global technology recruitment and outsourcing group, is pleased to announce the acquisition of Belgian IT solutions company, eMenka NV ("eMenka"
, by its Belgian subsidiary, Harvey Nash NV. Based near Antwerp, eMenka focuses on placing Microsoft specialists in full-time employee and independent contractor roles. The acquisition will enable the Group to take advantage of the strong software development market which is thriving across the world and particularly in Europe, where acute skills shortages in niche sectors drives demand and hiring activity. Businesses who specialise in IT skills and talent are reporting accelerating growth as the demand for these roles rises.Under the terms of the Acquisition, Harvey Nash Group NV will acquire 100% of the shares in eMenka for an initial cash consideration of €1,000,000 ("Initial Consideration". Deferred cash consideration of up to €1,000,000 ("Deferred Consideration" will be paid on the third anniversary of completion subject to average EBIT performance over a three-year period starting on 1 February 2018 and ending in 31 January 2021 (the "Earn-Out Period". The Initial Consideration and, if applicable, the Deferred Consideration, will be satisfied from the Group's existing cash resources and facilities.For the year ended 31 December 2017, eMenka reported gross profit of €0.82 million on turnover of €3.89 million and generated profit before tax of €0.21 million.Strategic fitThe acquisition is part of the Group's strategy to grow its businesses in its core markets in Northern Europe. With more than 1500 technology consultants working at clients in Belgium, the Group continuous to strengthen its leading position in the Belgian IT market.eMenka will collaborate with the Group's existing offering in Antwerp to strengthen our leading market position in Belgium in this specific skills niche. There is little client overlap and market coverage will be extended creating revenue synergies.Albert Ellis, Chief Executive Officer of Harvey Nash, commented: "We welcome eMenka into the Group and look forward to working with the well-established and respected team. This business will enhance our position as one of the market leaders and fast growing IT solutions businesses in Belgium, creating a larger pool of Microsoft specialists and employees to fulfil growing client demand. We expect the combined businesses to be recognised as one of the leading players in this niche market which will attract further talent and opportunity into the Group.As we stated in the preliminary results announcement on 27 April 2018, we are encouraged by the strong trading momentum at the beginning of the current financial year. This acquisition significantly strengthens our position in Northern Europe and will further bolster our confidence of delivering success in the year."
II Editor
01 May 2018
NEW ARTICLE: Stockwatch: An AIM share to accumulate "In my end-April macro review I noted a latest Red Flag report from LSE:BEG:Begbies Traynor, the AIM-listed corporate recovery specialists, warning of "large increases in financial distress in Q1 2018" - especially in professional services, up ..."[link]
Katonga
20 Nov 2017
7% Drop Why?
idontwanttolose
23 Oct 2017
Re: Investors Chronicle First time I have seen HVN as a top mover for a long time!![link] 04
2 PMMarket Movers - Top risers and fallers between 150 and 160Overall Market Seeing Machines 4.38 +2.94% Harvey Nash Group 95.88 +1.19% Vertu Motor ...
Lupo di mare
20 Oct 2017
Re: Investors Chronicle IC must have been pushing this one for at least 10 years - in fact, I just checked, I bought this on an IC tip exactly 10 years ago at 72p.Whilst I can say that I've benefited from divis, the capital growth has been dismal. Still, look on the bright side, at least it's growth - atm!Just as well I don't put all my eggs in one basket.
Mongrels
20 Oct 2017
Investors Chronicle [link]
takeiteasytoo
12 Sep 2017
Re: Acquisition of Crimson Limited Looks like a pretty good fit into the existing company and I like the fact that a large proportion of the payment is performance-based. The Board are doing exactly what they stated when moving to AIM. Very good......and more purchases to come next year no doubt.
Lupo di mare
12 Sep 2017
Re: Acquisition of Crimson Limited IDWTL - "I just hope they are not overpaying for Crimson!!"Sounds about right, IDW, some 9 x PTP. HVN's trading at 7 x PTP, atm, although that varies, and as the total is spread over 3 years and dependent upon earnings, it looks reasonable. So hard to be sure with people businesses, isn't it.
Lupo di mare
12 Sep 2017
Re: Acquisition of Crimson Limited [link]
idontwanttolose
12 Sep 2017
Acquisition of Crimson Limited I just hope they are not overpaying for Crimson!!12 September 2017Harvey Nash Group PLC("Harvey Nash" or the "Company"Acquisition of Crimson Limited (the "Acquisition"Harvey Nash, the global technology recruitment and outsourcing group, is pleased to announce the acquisition of Crimson Limited ("Crimson", cementing the Group's position as the market leading technology talent provider in the UK's IT and digital sectors.Crimson, founded in 2000, is a UK IT solutions and recruitment company that specialises in digital and technology transformation solutions as well as offering a full range of IT recruitment services, both permanent and contract. For the year ended 31 March 2017, Crimson reported a profit before tax of £1.7 million on turnover of £23.5 million, with gross assets of £5.4 million at 31 March 2017. During this period approximately 50% of Crimson's gross profit was derived from IT Solutions and 50% from recruitment, of which the majority was contracting or annuity revenues.Under the terms of the Acquisition, Harvey Nash Group plc will acquire 100% of the shares in Crimson for an initial cash consideration of £6 million ("Initial Consideration", plus an adjustment for working capital on completion (expected to result in a payment of no more than £100,000). Deferred cash consideration of up to £4 million ("Deferred Consideration" will be paid in two equal tranches on the first and second anniversary of completion with 50% guaranteed and the remainder subject to achieving a minimum level of EBITDA in each year of £1.5 million (or an aggregate over 2 years of £3 million or more).In addition to the Initial Consideration and the Deferred Consideration, an earn-out of up to £5 million will be payable in cash over the period of three years following completion, in two tranches:· up to £2 million will be paid based on the increase in adjusted EBITDA delivered by Crimson during months 13-24 following completion; the amount payable will be 5 times the difference between such adjusted EBITDA and the adjusted EBITDA of £2.5 million for the year ended 31 March 2017; and· up to £3 million will be paid based on the increase in adjusted EBITDA delivered by Crimson during months 25-36 following completion; the amount payable will be 5 times the difference between such adjusted EBITDA and £2.5 million (the "Earn-Out Consideration".The Initial Consideration, the Deferred Consideration and, if applicable, the Earn-Out Consideration, will be satisfied from the Group's existing cash flows resources and facilities. The total maximum consideration payable for the acquisition of Crimson is up to £15 million in cash, on a cash-free and debt-free basis, but assuming a normal level of working capital (c£1.2 million during the year ended 31 March 2017). Of the three shareholder directors, Robert Mallaband and Simon Chave will continue as CEO and CIO of Crimson respectively, remaining with the business along with the current management team, post-acquisition.Albert Ellis, CEO of Harvey Nash Group, said:"I am delighted to welcome the team from Crimson into the Group. This is a transformative acquisition firmly establishing the Group's business as the leading full service technology talent provider in the UK's IT and digital sectors.The breadth and depth of technology expertise and talent resources offered by the combined businesses is unrivalled in the market and we expect to achieve cross selling synergies over the coming months. In particular, our world class Vietnam offshore IT project and software development service will complement Crimson's already established and well respected onshore consulting teams.The announcement demonstrates our commitment to executing our stated strategy of delivering growth, both organically and through acquisitions."Rob Mallaband, CEO of Crimson, said:"Harvey Nash is well established with a unique portfolio of services and str
idontwanttolose
04 Jul 2017
Lupo Re: Acquisition I missed the acquisition news Lupo so thanks for that.I was thinking that there may have been a possible takeover of HVN !!
Lupo di mare
03 Jul 2017
Acquisition In case anyone missed it, see under 'News' above. Guess that that's what explains the sp uplift today.
idontwanttolose
29 Jun 2017
Re: Interesting AGM Statement I still think that HVN stand a big chance of being a take over target whether they re in AIM or the main market.I am a long term share holder and who wouldn't be with a return exceeding 5%But as always DYOR
