Blog

Surely linked to yesterdays Tories announcement that they would kill HIPs, in this mornings opening trading, Network Data Holdings, parent company of Hipstar the Home Information Pack Provider, saw its share price plunge 44.64 percent (down 6-1/4 pence to 7-3/4 pence) -- after the company warned full-year results are likely to be below market expectations.

Funnily enough I was looking at their share price last night (well 2am) as this is one company I have kept very very close tabs on owing to its reliance on income from mortgage brokers, surveyors and HIPs.

Closing share price on Fri Jul 18th was 14p
Closing share price on Mon 21st Jul was 14p
Currently trading at 8.5p

You will remember that Hipstar lost millions last year setting up Hipstar, they also had a huge reshuffle early last year when the top man Stephen Maskens moved on and 20 staff were made redundant.



Blog postings about Hipstar:

Tue 25 March 2008 Hipstar extends its credit facilities
Wed 12 April 2008 Hipstar announces loss owing to HIPs


Hipstar Losses

2006 1,333,000 (When the parent group Network Data Holdings made a profit of 271,000)
2007 3,579,000 (When the parent group Network Data Holdings made a loss of 1,105,000)

You can see more financial information about Network Data and Hipstar here


LONDON (Thomson Financial) - Network Data plunged 44.64 percent -- or 6-1/4 pence to 7-3/4 pence -- after the company warned full-year results are likely to be below market expectations.

Its trio of businesses are reliant on the volume of transactions in the mortgage and property markets and have consequently found the first six months of 2008 to be a challenging environment.

"The declining transaction levels have been well-chronicled in the national business press and the results for the six-month period will reflect these market conditions," said the company in a trading update.

Stock Market announcements/commentary

(AFX UK Focus) 2008-07-22 08:05
UK smallcap opening - Network Data plunges on FY results warning

(RNS) 2008-07-22 07:02
Network Data Hldgs - Trading Statement

Labels: Network-Data-Holdings-(HIPSTAR)-shares-drop-off-a-cliff