News blog
HML Holdings
- BY: Andrew Hore |
- POSTED: 11/03/2009 |
Daniel Stewart has slashed its 2008-09 earnings per share forecast for HML Holdings by 75%.
The earnings forecast for the year to March 2010 has been cut by one-third.
Shares in HML fell 1.5p to 4p each, which values the residential property manager at £1.26m.
Growth in fixed management fees has helped to partially offset the effect of the negative property market. However, the lack of additional transaction fees has hit profits. The cut in interest rates has not helped.
HML does not expect any improvement in transaction fees in the coming year. Fixed property management fees should continue to grow.
In June 2008, house broker Daniel Stewart forecast a rise in profits to £647,000 in 2008-09. The latest forecast is for a 2008-09 profit of around £100,000, rising to £300,000 in 2009-10.
Finance director James Howgego has bought 100,000 shares at 4.5p each. He owns 1.43% of HML.
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