gretel
30 Sep 2015
Good H1 results today Panmure have reiterated their Buy and 129p valuation:[link] looks cheap to me at 98p.With the seasonally better H2 coming up, HVN are in a decent position to match or exceed expectations of 9.42p EPS, with a 3.71p dividend.Currency headwinds are also receding somewhat with both the Euro strengthening slightly and the pound weakening against the dollar.At constant currency rates this H1 could have been an absolutely terrific half for HVN rather than just a pretty decent one - with HVN being so confident for H2, perhaps this half could be really good.
gretel
18 Sep 2015
Hargreave Hale buying more HVN Late RNS yesterday shows Hargreave Hale going above 15% with 11.04m shares - they've bought 700,000 shares since their last holdings RNS:[link] particular, Marlborough Fund Managers within that holding have increased from 9.64m shares to 10.385m shares.The interims, which will be on 30th September (2 weeks' time), should be decent at worst given the positive/trading in line AGM statement.
gretel
03 Sep 2015
Good news for HVN's NashTech [link] partners with NashTech for offshore development23 hours ago | 922 views | 0 Source: Cashfac Cashfac Technologies, the market leader in Bank-to-Corporate Cash Management solutions, today announced a partnership agreement with NashTech’s IT outsourced development and test operations. NashTech will provide offshore development and test resources for a number of Cashfac’s non-core capabilities from their base in Vietnam. The NashTech resourcing complements Cashfac’s UK based development team and is supporting the expansion of Cashfac’s cash management solutions. NashTech is a division of global IT outsourcing and professional recruitment company Harvey Nash Group. Cashfac continues to expand its core technology development and deployment capability while NashTech will provide additional capacity for non-core external components and test services in order to accelerate time to market. This news follows the announcement by Harvey Nash of its plans to establish a new Tech Hub virtual network to enable UK tech enterprises to meet, share best practice and collaborate with partners from Asia’s dynamic technology sector. The initiative has the backing of Prime Minister’s in both the UK and Vietnam and will help to unlock millions of pounds of value through the development of new technologies.Richard Cummings, CEO of Cashfac, said: “NashTech has developed a reputation for innovation and process excellence. These values combined with their stable, highly educated and experienced team in Vietnam offers Cashfac a tremendous partnering opportunity. NashTech are enabling Cashfac to expand in a controlled and scalable manner that supports our considerable growth and the increasing demand for our solutions. We are already seeing the benefits of this working relationship.”Paul Smith, Chairman of NashTech, said: “As the second most popular investment destination in Asia Pacific, behind China, Vietnam presents huge investment and collaboration opportunities for the UK technology sector. This partnership with Cashfac demonstrates the positive impact that relationships with the UK technology sector can have on Asian business. We look forward to our continued work with Cashfac and to helping support their continued growth.”
gretel
03 Aug 2015
HVN expanding in Asia Big growth plans in Vietnam, with plans to expand further throughout Asia::[link] "UK and Southeast Asian Companies to Benefit from New Collaboration Tool Harvey Nash Group announces tech hub platform development July 31, 2015 02:24 PM Eastern Daylight Time NEW YORK--(BUSINESS WIRE)--Harvey Nash, a global IT outsourcing and professional recruitment company, today announces plans for a new tech hub enabling collaboration between UK and Vietnamese technology companies - news welcomed by Britain’s Prime Minister David Cameron and Vietnam’s Prime Minister Nguyen Tan Dung. The UK is renowned for its digital technology innovation and Harvey Nash, in partnership with the UK Trade & Investment (UKTI), intends to facilitate the establishment of new networks in ASEAN (nations in South East Asia) through the launch of the tech hub virtual network. David Cameron’s office made the following announcement during the UK premier’s recent visit to Vietnam this week: “Both Prime Ministers welcomed the announcement by Harvey Nash, the largest foreign investor in the Vietnamese technology sector, that it would launch a UK-Viet Nam tech hub this year to facilitate dialogue and potential collaboration between Vietnamese and British companies, with strong political support from the UK government.“Both Prime Ministers further welcomed the leadership shown by the Viet Nam Chamber of Commerce and Industry and the Viet Nam Business Forum in taking forward the Business Integrity agenda and supported future business-led action.”This new digital platform will serve as a unique environment for UK tech enterprises to meet, share best practices and collaborate with partners from the ASEAN’s dynamic technology sector, helping to unlock millions of pounds of value through the development of new technologies. Harvey Nash plans to create and launch the pilot platform in Vietnam in the coming months, with the ambition to extend the initiative to engage other ASEAN countries. Paul Smith, Chairman of Nash Tech, a division of the Harvey Nash Group, says, “As one of the largest technology companies in Vietnam, Harvey Nash believes it is important to lead the way and build on the technology industry’s entrepreneurial drive. developing a new platform that supports and encourages links between the UK and ASEAN, we believe the technology communities will find many new ways to interact, trade, and innovate.“The development of Tech Hub, which is supported by Lord Francis Maude, UK Minister of State for Trade and Investment, will significantly increase the export of services from Vietnam over the next two years, bringing valuable new jobs for the ICT and consulting industry and bringing new skill sets and experience to the workforce.”Vietnam presents a huge investment opportunity, as the second most popular investment destination in Asia Pacific (behind China) with foreign direct investment projects more than doubling last year (according to fDi Markets, 2014). Vietnam boasts healthy GDP growth (the economy grew 6% last year) and benefits from a sizable, skilled population, due to the Government’s focus on education and investment in skills and technical acumen. Harvey Nash first invested in Vietnam over 15 years ago, and is now the largest foreign investor within the Vietnamese technology sector having built one of the leading technology and BPO businesses in the country."
Lupo di mare
31 Jul 2015
Re: Good results by sector comparators I've been keen on buying and holding - unless the outlook of any company is looking hopeless. That's why I'm still here when may be I should be invested in the likes of RWA.Gretel - as I wrote a few days ago, there's a reason why HVN's sp is languishing, and you've highlighted it yet again by comparing it to RWA.Yes, RWA has a P/E of about 28, but it also increased its EPS by 78%; PTP by 82%, and Rev. by 25%. Its margins are in the region of 2.6%; so, once agin, there's a reason for HVN's discount. HVN appears to be gaining traction, but that momentum needs to be sustained.
gretel
30 Jul 2015
Good results by sector comparators Good results from RWA today, following on from MPI, particularly in the UK. HVN remains on a P/E of only around 10, with a 3.7% divi yield and a sound Balance Sheet - a huge discount to its comparators.
mcescher
30 Jul 2015
Harvey Nash Group fundmentals report Looking like a solid dividend payer [link]
Lupo di mare
26 Jul 2015
Re: HVN's rating half that of SThree Gretel - at the Interims, Sthree showed revenue +21%; PTP +14%; Margins 3.5% - so there's a reason for them to be trading at twice HVN's P/E.
MRBIG
17 Jul 2015
got some momentum now, next stop 120
gretel
15 Jul 2015
HVN's rating half that of SThree SThree - a staffer with a strong bias towards ICT, like HVN - announced good results on Monday, emphasising "strong growth" in ICT.The difference is that SThree are valued at 21 times earnings - almost double HVN's multiple of barely 11.
MRBIG
13 Jul 2015
s3 likewise, all looking good
MRBIG
07 Jul 2015
good stmnt from rob walters, positive
Lupo di mare
03 Jul 2015
Re: Positive analyst comment Not for one moment do I believe that investors are put off by currency movements.It's the margins that are holding HVN back - IMO. Until HVN can demonstrate that they can improve margins, we won't see the sp that we're hoping for. Recent improvements have to be sustained AND improved further.
gretel
03 Jul 2015
Positive analyst comment Brief comment from Panmure:[link] analysts maintained their 'buy' recommendation and said: "We believe investors will look beyond the impact of FX or the recently reported conversion ratio and focus on how spare capacity within the business should drive earnings higher"Lupo, HVN have underperformed for a while, but have a solid and respected brand in IT recruitment and I believe are on the cusp of a upwards lift in performance. It's a shame this has been masked by currency movements, but, as Panmure's noted, perhaps the City will look through this to see the improvements in the core business.
Lupo di mare
02 Jul 2015
Re: Good trading update today Gretel, why are they trading on a P/E of barely10? Best to ask yourself that question before posting Buy recommendations. Merely saying that it's far below the sector average won't do.
