WHG WHK Group ltd

Heres another company performing well. The chart is on a down trend at the moment so could be one to watch for an uptrend soon.

About WHK Group

WHK Group Limited provides a range of business and financial services. The Company operates through two business segments. The Business Services segment is engaged in the provision of accounting, taxation, audit and assurance, estate planning, business advisory and corporate advisory services. The Financial Services segment is involved in the provision of financial planning, wealth management, risk insurance, self-managed superannuation and finance broking services. Its business segments are located throughout Australia and New Zealand. As of June 30, 2006, it had three firms operating within New Zealand. As of June 30, 2006, its distribution network consisted of 19 accountancy firms and one specialist financial planning firm. It provides services to small and medium-sized enterprises and high-net-worth clients. In October 2006, the Company acquired HMG Accounting, a Ballarat-based accounting firm, together with its affiliated financial planning practice, Ballarat Wealth Advisers.

Dear Shareholder

2006/07 FIRST HALF RESULTS

On behalf of the Board of WHK Group Limited (“the Group”), I am pleased to report that the Group has continued to grow and perform strongly in the 2006/07 first half, with the Financial Services Division in particular contributing strongly to record profitability and allowing the Directors to increase the interim dividend by 15% to 2.50 cents per share fully franked (2005: 2.17 cents per share fully franked, share split adjusted).
Results Summary and First Half Highlights
A brief summary of the first half results and major highlights are outlined below:
• Operating revenue increased to $148.45 million (2005: $124.84 million), a rise of 19% and maintaining the Group’s strong growth momentum.
• Consolidated net profit after tax (“Net Profit”) has also increased strongly to a record $12.39 million, an increase of 15% on the previous half-year result (2005: $10.77 million) which was affected by a non-recurring write-off of $0.84 million.
• Underlying profitability represented by Net Profit before amortisation of intangible assets and non-recurring items (“Normalised Cash Earnings”) increased by 8% to $12.76 million (2005: $11.82 million).
• As referred to above, the Group’s record first half profit has enabled Directors to declare a 15% increase in the interim dividend to 2.50 cents per share fully franked, up from 2.17 cents per share for the previous corresponding period, adjusted for the 3 for 1 share split approved by shareholders at the Group’s 2006 Annual General Meeting.

• Financial Services –
- continued to achieve exceptional growth and performance on the back of favourable market conditions;
- operating revenue increased by 20% to $38.61 million (2005: $32.30 million), mainly as a result of strong organic revenue growth;
- net contribution jumped to $9.09 million (2005: $7.07 million), a rise of 29%;
- funds under advice (“FUA”) climbed to $7.52 billion at financial year end (30 June 2006: $6.72 billion), an increase of $0.80 billion or 12% in the 6-month period;
- new business inflows increased by 10% to $339 million (2005: $308 million) and contributed strongly to growth in FUA;
- on-going (recurring) revenue from financial planning jumped sharply to $22.67 million (2005: $18.69 million), a rise of 21%;
- revenue from the administration of some 8,230 self managed super funds grew to $5.68 million (2005: $4.91 million), a rise of 16% – self managed super is regarded by Directors as an outstanding growth opportunity for the Group for at least the next 10 years given the ability of member firms to provide a complete range of accounting, tax, compliance, audit, financial and investment advice and services to individually managed super funds;
- finance broking revenue continued to surge, up 56% to $2.26 million (2005: $1.45 million); and
- revenue from risk insurance grew by 36% to $2.33 million (2005: $1.71 million).
• Bus

This is another "business services" type business that looks a little on the cheap side - although not nearly as much so as DWS on paper, taking into account the debt and level of intangibles. At least I can figure out what they do (particularly since they've popped up as auditors on quite a few of the other company accounts!). Still, looks to me like forward P/E should be under 10 and no reason to think they can't grow the business organically from here to up the ROIC.

Too tempting down here at 97cps and bought some today. Going to get me a rap over the knuckles with a 3-yr chart from Dad, I feel... hoping that 3 bounces off support at 95cps and rising OBV will get me off lightly...

Still feels like there's a seller in there, so it could be buy in haste, repent at leisure.

Result out and pretty close to expectations - slightly under on NPAT, over on cashflow/debt reduction, over on yield and positive outlook.

P/E was around 11, yield 6.3% (+franking) at 96cps, but price is moving up a bit.

Not going to be super returns on share price in current 6 months I feel - but hoping for improved ROE in current period to drive higher. My rating probably a hold/accumulate on dips. Or maybe just check the chart in a couple of days after the result has percolated through. Probably Dad would want a decent break of resistance at $1 for starters.

Hi Liz,

There seem to be a number of companies in this space on the Aussie market.
Prime Financial released their results the other day and seem to be increasing the funds under management.
Dividend of 1.5cents on share price of 18cents. PE around 8. Presentation worth a read.

Count was another that I looked at a while back and it ran up to $3.50 before tracking back down.

With talk of a Hindenberg and the Americans going to have to face up to reality after the summer holidays, my hands are in my pockets at the moment.

This usually means the market will pick up.

Always enjoy your analysis.

LEW

Thanks Lewinsky. Another ST member forced my head into a PFG presentation the other day, but I was so busy gasping for breath, I probably struggled. Resistance is futile. I had better compose myself and have a proper look. :)

Just re-reading the details from WHG. Not as much in growth prospects mentioned within the short term.

However, at this rate they may just get to take the "well-positioned" award for the season, having managed to squeeze 3 "well-placed"/"well-positioned" mentions in the space of just 5 sentences of their release summary!!!

As I work my way through the pile of results, I'd have to say this seems to be one of the most boring results seasons I've had, with few surprises overall.

In that context, WHG has to be one of the more disappointing results. After a strong recovery year last year, they seem to be drifting, with no sense of direction. The best they seem able to offer is an increased dividend - enough to underpin the current share price, but hard to see much interest with a "no growth" outlook for the current period.

This is in the SMH this morning


Who says accounting is for dullards?
Richard Hemming
October 7, 2011 - 11:11AM
.Most companies have fallen in the past six months, but accounting services provider WHK Group has been falling heavily for the past eight - dropping more than 22 per cent, in the process providing investors with a massive 14 per cent yield at current prices.

This is interesting, because you would think that a company that has highly defensive earnings, has reduced its debt to manageable levels, and has a new high powered chief executive, with big ambitions to boot, would be doing well.

As it stands, at 81 cents, WHK (ASX code WHG) trades on a price/earnings ratio of close to five times, which means the market thinks it has no growth left in it.

Advertisement: Story continues below Whatever you think of its growth prospects, it's a stand-out in the hunt for income, paying out over 70 per cent of its earnings in dividends. WHK's prospective yield is 9.8 per cent, which rises to 14 per cent when you include franking credits.

With small companies management is (almost) everything, and newly installed chief executive John Lombard does have a mountain to climb. He will need all his experience to turn WHK around.

Previously he was a management consultant and then a senior executive in software logistics group SAP's European operations.

At the very least he has to do is orchestrate WHK's 15 or so separate accounting practices into playing from the same score - which means sales growth. Culture in accounting is hard to change.

One fundie betting he will do this is Celeste Funds Management, which increased its stake in August from just over 5 per cent to a touch over 6 per cent.

“You can't just click your finger (to achieve change)” says Celeste analyst Paul Biddle, “but John is not an accountant and he thinks like a software engineer, which is: if we don't grow the business at 20 per cent a year, we're losing market share.”

One thing in Lombard and WHK's favour are the future of financial advice (FOFA) reforms which have the aim of ensuring that the consumers who pay for advice are receiving that advice and not being pushed into products that are aligned with a financial planner.

Accountants, who are remunerated based on fees, should in theory be in a position (once they are licensed) to give financial advice to their clients, many of whom would have significant portfolios.

Lombard has only been in the job for three months, so it is too early to tell how he is going. If he gets it right, investors won't just be walking away with big dividends.


Read more: http://www.smh.com.au/business/who-s...#ixzz1a3QhcdtL

With a Profit downgrade and takeover suspended WHG has been smashed , fundie bailing out? Still cum a 3c divi .

Quote:

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Originally Posted by Joshuatree

With a Profit downgrade and takeover suspended WHG has been smashed , fundie bailing out? Still cum a 3c divi .

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And yet another downgrade on Thursday, with shares down another 40% odd.

Now down 66% from the pre bid levels earlier this year.

Tough market, declining margins and earnings and much more pain ahead I'd imagine

Quote:

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Originally Posted by steve fleming

And yet another downgrade on Thursday, with shares down another 40% odd.

Now down 66% from the pre bid levels earlier this year.

Tough market, declining margins and earnings and much more pain ahead I'd imagine

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I see Fisher Funds have a large holding. Have added to my watchlist for when they start selling - cheers.

Anyone know what might cause a suspension from quotation?

vREQUEST FOR VOLUNTARY SUSPENSION : WHK
Pursuant to ASX Listing Rule 17.2, WhiteHawk Ltd (“WhiteHawk” or “the Company”) requests a voluntary
suspension of the Company’s securities from the commencement of trading on Friday, 16 October 2020.
In accordance with ASX Listing Rule 17.2, the Company provides the following information:
1. Reason for suspension – as set out in its request for a Trading Halt on 14 October 2020, the
Company is seeking a voluntary suspension of its securities pending the release of the outcome
of the Company’s application to the Supreme Court of Western Australia seeking orders in
relation to the Company’s inadvertent failure to lodge a cleansing notice under section 708A(5)(e)
of the Corporations Act 2001 (Cth) in relation to the following share issues:
a) 12,987,013 shares on 3 July 2020;
b) 3,000,000 shares on 21 August 2020; and
c) 1,562,735 shares on 25 September 2020.
The Company filed this application with the Supreme Court of Western Australia on 15 October
2020.
2. Duration of the suspension – the Company requests that the voluntary suspension remains in
place until earlier of the Company releases an announcement in relation to the outcome of the
application and the commencement of trading on Wednesday, 21 October 2020.
3. No reason – the Company is not aware of any reason why the voluntary suspension should not
be granted.
4. Further information – the Company is not aware of any other information necessary to inform the
market about the voluntary susp

Interesting. Not a particularly good look for a cyber security company with government contracts I should have thought.