Home » Posts tagged 'finsbury foods'
Tag Archives: finsbury foods
Ian Pollard – Footasylum #FOOT impacted
Finsbury Food Group FIF has acquired 100% of the share capital of Ultrapharm Limited a specialist Free From bakery manufacturer with site in the UK & Poland. Finsbury claims that the acquisition supports the Group’s ongoing strategy to further diversify its product capability into high growth areas.
Tax Systems plc TAX enjoyed a strong first half with revenue growth of 14% for the six months to the 30th June.EBITDA for the half year grew by 9% and order intake by 22%.
Footasylum FOOT expects growth for the full year to be significantly lower than previous guidance with adjusted EBITDA down to less than half that for full year 2018. Revenue for the six months to the 25th August is expected to show a rise of 18.5% with online revenue in particular up by 28.5%. Trading has however, been impacted by weak consumer sentiment and more challenging conditions in July and August. Delays in store openings and upgrades.have also exacerbated the situation.
Biome Technologies BIOM delivered an exceptional start to the year and an outstanding first half enabled it to deliver a small operating profit of £0.2m. in the six months to the 30th June compared to last years loss of £0.2m. Group revenue for the half increased by 47% to £4.4m.
Safestyle UK plc SFE announces a comprehensive settlement of its claims against NIAMAC Developments Ltd (trading as SafeGlaze UK) for alleged trade mark infringement, passing off, misuse of confidential information, malicious falsehood and various other matters. NIAMAC has agreed that the existing court injunctions against it will be replaced by formal undertakings to the court. Steps have also been agreed to prevent the possibility of any acts of intimidation or harassment of Safestyle UK representatives and in addition, SafeGlaze UK will also change its trading name. A fairly comprehensive victory, if ever there was one.
Forget Brexit; Get A Residence Permit Valid For The EU http://www.hiddengreece.net
Ian Pollard – Finsbury Foods #FIF accelerates reshaping of Asset footprint !!
Finsbury Food FIF Once you read that the group has done well in accelerating the reshaping of its asset footprint during the year to the 30th June, you know that it has had problems. Meaningless jargon is always a sign of a management lost for words even if it does manage to claim that its performance has been resilient. In fact so resilient that sales, taking into account closed businesses, declined by 3.4% and even the 50% owned European business saw a drop of 0.7%. On a like for like basis group sales rose by 2.4% and FIF is confident that it will deliver profits in line with expectation. The trading environment was very challenging with unprecedented commodity and labour inflation.
Inland Homes INL updates that growth in both revenues and homes delivered and under construction was strong during the year to the 30th June. Good quality also helped customer demand to remain strong, as did an average affordable selling price of 293,000 per unit. Open market completions rose by 46.3% and revenue by 66.7% but as for the future there seems to be a cloud on the horizon, with forward sales as at the trading update down by 23.1%
Plant Health Care PHC Is on track to achieve full year revenue expectations, which would represent 30% growth over 2017. In Brazil, Harpin αβ was launched in February 2018 for use on sugarcane and demonstration field trials showed an average yield increase of over 20% whilst n the USA, an agreement has been reached which will give Harpin αβ access to the large corn seed treatment market. First sales will be in the second half of 2018. The planted area of corn has now reached 90 million acres and significant growth is expected thereafter.
TP Group TPG claims it has made a strong start to 2018 with the completion of a number of major contracts during the half yer to the 30th June. A new manufacturing facility in Manchester has also been completed and it continues to be active in the acquisition field.
Beachfront villas & houses for sale in Greece; http://www.hiddengreece.net
Ian Pollard – Will bullying Melrose #MRO shareholders win the day?
Melrose MRO Today the gloves are off as Melrose goes to war in its attempts to persuade GKN shareholders to abandon its company. If ever an example was needed as to how the City is no longer a place for gentlemen, Melrose provides it with a hectoring, bullying diatribe threatening GKN shareholders with the terrible financial consequences of their own folly if they are stupid enough to reject Melrose’s offer.There is only one problem and it is a problem which Melrose has created for itself. Its attitude and language is so extreme that it makes it appear that this is its last desperate throw of the dice after which its ammunition is exhausted.
Thus Melrose’s final offensive, attacks GKN’s “hastily assembled and ill considered proposals”, threatens GKN shareholders that “unless they accept our offer” there will be dire consequences and compares GKN rebuttal with what they laughingly call their own “measured approach”. In fact there is nothing measured about today’s response. Its warnings read like the last gambit of a contestant which is running scared and knows it has already lost the battle. Rarely in the world of takeovers has a company made such a disastrous tactical error. It deliberately chose to turn itself into the beast to be feared, a wolf without any sheeps clothing. People who are threatened and treated as stupid, tend to rebel. Melrose has only itself to blame if it is rebuffed.
Finsbury Foods FIF claims that half year results to the 30th December were robust and is increasing its interim dividend by 10% to 1.1p per share. Like for like revenue rose by 2.5% and profit before tax by 6.3% as the group showed resilience in the face of a sustained period of “market wide headwinds” which it says, will persist into the future.
Weatherly International WTI announces that it may have come to the end of a long and difficult road. It renegotiated its loans from Orion on the 31st August, 30th October and 31st December and it is now faced with repayments of $20m. by the 31st March. It admits that it is unlikely to generate sufficient surplus cash to be able to meet the repayment and its continued existence as a going concern will not be possible without Orion’s continued support, of which there is no certainty.
Find beachfront villas & houses for sale in Greece; http://www.hiddengreece.net
Ian Pollard – Countryside Properties -A Lesson in Clarity and Profitability
United Utilities UU must have decided to make its half year report as obscure and meaningless as possible. Thus it is full of PR19S, ODIs, RCV Gearing and the latest craze, System Thinking. What it wont do because presumably it would make the figures for the 6 months to the end of September too easy to understand, is tell you the percentages by which mundane things like revenue and profit in all its various guises have risen. That is a fairly easy task for even the most junior office boy in most head offices – but perhaps I should not run the risk of being regarded as sexist when of course I should have said “junior person”. So you can have your profits four ways – underlying, reported, underlying after tax and reported after tax but what you are definately not allowed to see are the figures on a statutory basis. The figure all show reasonable increases and the interim dividend is going up from 12.95p to13.24p per share. What that rise means in percentage terms is however a closely gaurded secret, known only to that junior person at head office who is the only member of senior management with the System Thinking skills able to work it out.
Thomas Cook Group TCG has woken up to the fact that it is a “good thing” to claim to have a customer focused strategy. Not before time, some may say, after the traumas of recent years. How serious they are about it remain to be seen but having discovered that it can lead to profitable growth, there may be a fair chance that they will give it a go.
Their table of figures is not all that easy to understand but I think I have got it after the third reading. Profit after tax for the year to the 30th Spetember has risen from 1 to 12 which is clearly shown as a difference of 11 which in the last colomn becomes a like for like rise of 7 on a constant currency basis. If you would like to know what the 7 means you are invited to proceed to page 12 – clearly this must be part of the new customer focused strategy. Underlying earnings per share is understandable with a rise from 8.1p to 9.3p and there is an explanation that like for like group revenue on a constant currency basis has risen by 9%. The recommended dividend is 0.6p per share but we are not enlightened as to whether that is a rise or a fall on last year. Perhaps I should go back to page 12 to find out. And before I forget, cutting complexity is one way in which they intend to produce further growth. Some chance.
Countryside Properties CSP shows how it should be done. Simple. On an adjusted basis earnings per share rose by 71% in the year to the end of September, revenue was up by 32%, completion by 28% and operating profit by 34%. It was an excellent and record year and perhaps one of the most significant statistics (which will be very unwelcome to the competition) is that they reduced the average selling price by 8% which most housebuilders would regard as a criminal offence.
Finsbury Foods FIF announces that the UK retail food market hass moved from a deflatioary to an inflationary environment and thus helped to take the load off managements shoulders which is now finding it easier to run a bakery profitably. UK sales have risen by 5% whilst European sales are down by 3% despite all those fancy baguettes, brioches and black unsliced.
Beachfront villas & houses for sale in Greece http://www.hiddengreece.net
RWS Holdings – Excellent Performance In An Outstanding Year
RWS Holdings RWS expects revenues for the year to the end of September to have risen to £163m, an increase of 33%, after producing an excellent performance in what it claims to have been an outstanding year. Profit before tax is expected to be strong and ahead of market expectations, helped by two acquisitions and currency benefits.The strong momentum across the group is expected to continue.
Finsbury Foods FIF has issued an update laden with gloom. Since the last update on the 23 August it has decided to close its loss making Grain D’Or factory, the closure to be completed by the 2nd December at a cost which could exceed £10m spread over 7 years compared to the current annual loss of £3.3m. The hurried decision to close the factory follows the loss of two large contracts since the year end. Savings will be made from the cancellation of capital investment programs which are described as having been significant. Current market conditions add to the air of gloom as does the high price of butter. The shape of the future depends on an upturn in the market.
CRH plc CRH has reached agreement to acquire Ash Grove Cement Company (“Ash Grove”), a leading US cement manufacturer based in Kansas, for a total consideration of US$3.5 billion. The proposed transaction remains subject to Ash Grove shareholder and regulatory approval.
Beachfront villas & houses for sale in Greece http://www.hiddengreece.net
Finsbury Food Faces Up to A Deflationary Market
Finsbury Food Group FIF claims it produced a strongly resilient performance in the year to 1st July, as it faced the challenges of a deflationary market which saw group like for like revenue remain flat. A final dividend of 2p per share is to be paid making a total of 3p for the year, a rise of 7.1%.. Sales and profit margins both increased and on a like for like basis adjusted profit before tax rose by 5.6%. The competitive success of the company is illustrated by a 15% rise in sales to continental Europe.
Dairy Crest DCG expects that profit for the half year to 30th September will be ahead of last year after Clover and Frylight showed strong volume growth and Cathedral City remained “the nations favourite cheese”. Problems remained with Country Life as sales volume was impacted by reduced promotional activity to try and mitigate the high price of cream. Seems a bit illogical to try and save money by reducing sales.
Hiscox HSX expects Hurricane Harvey will produce claims of some US$150m. which is within the range expected from a major hurricane. It is anticipated that 2017 will be a bad year for natural disasters. Harvey was the first major hurricane to hit landfall for 12 years and the aim is to pay claims quickly. Premiums, after a long period of decline, are expected to stabilise and then ti start increasing.
Petra Diamonds PDL Net profit after tax slumped by 69% for the year to 30th June as finances were impacted by delays in the expansion programme, the strength of the Rand against the dollar and rising costs, despite revenue for the year having rise by 11% on volume up by 8%. Basic earnings per share fell from 10.38 cents to 3.47cents. Net debt which is expected to start falling from the second half of 2018, rose from US$382m. to US$553m and lenders have agreed since the year end to waive two covenants. The signs for 2018 do not appear to be all that sparkling as like for like diamond prices fell by 3% at the first tender of the year.
MP Evans MPE is doubling its interim dividend after operating profit for the six months to 30th June more than tripled, following a 56% rise in crude palm oil production, at the same time as prices enjoyed a 10% rise. Crops rose by 26% as young trees began to mature.
Villas & houses for sale in Greece – visit; http://www.hiddengreece.net
Weir Group Recovery Starts
Weir Group Weir has North America to thank for signs of recovery in its fortunes. North American oil and gas markets have recovered more strongly than anticipated and volume and price increases have both been ahead of prior expectations. Operating margins in the first half have been in low double digit figures and full year revenue and operating profits will be above the upper end of analysyst’s estimates
Finsbury Food FIF updates that it is very pleased to have grown revenue in the year to the 1st. July, ignoring the unwelcome fact that on a constant currency basis its like for like revenue actually fell by 1.4% and on an actual basis only rose by 0.3% How Chief Executives hate to have to announce poor figures and will do their utmost to try and justify calling a fall, a rise. At least the second half performance was better than the first where the decline was twice as large, at 2.9%, The European business showed a leap of 17,3% but only 2.2% was organic growth and 15.1% was due to exchange rate benefits.
Plant Impact PIM expects strong growth in the use of Veritas in Brazil, with revenue for 2017 expected to rise from from £7.2m in 2016 to between £8.5 and £9m. The prospects for 2018 are even brighter with revenue expected to be around £13m.
Conviviality CVR is increasing its full year dividend by 33% to 12.6p per share. after what the company claims was a transformational year, with all areas of the business performing strongly, revenue rising by 85% and profit before tax by by 147%. The success has continued into the new financial year with sales for the nine weeks to 2nd July showing further growth of 9% compared to last year.
Villas & houses for sale in Greece – visit; http://www.hiddengreece.net
Finsbury Food Growth Halted
Finsbury Food Group FIF A successfull roll out of vision and values appears to have been the main feature of Finsbury’s second half and once you see management reduced to that level of jargon, you know that something is not quite right. Well revenue for one thing was completely flat, in fact it was so flat that the first and second half revenues were virtually identical – so much for meaningless empty phrases like vision and value. Profit before tax for the 26 weeks to the end of December rose by 5.3% and the interim dividend was increased by 7.5%. The CEO refers to the company’strack record of exceptional growth but offers no explanation as to why that should suddenly have come to a halt in the second half of 2016.
EKF Diagnostics EKF A successful restructuring helped to produce strong organic growth in the year to the end of December, with revenue rising by 28% and gross profits by 24%. EBITDA of £6.1m compared to 2015’s loss of £2.9m
Volution Group FAN is increasing its interim dividend by 12.5% for the half year to 31st January. Revenue grew by 26.1% or 2.3% on a like for like and constant currency basis. Reported profit before tax grew by 10% compaed to the first half of 2016. Further good growth is expected in 2017.
Taptica TAP A strong performance for the year to the end of December saw revenue rise by 66% and gross profit more than double. Adjusted EBITDA more than tripled to $25.7m and an increase in the final dividend means an increase for the year from 0.00784 to $0.1011 cents per share.
Villas & Houses For Sale in Greece; http://www.hiddengreece
Royal Mail Drowns in Jargon
Royal Mail plc RMG How can any company be taken seriously when its CEO’s English appears to be so bad that she has to express herself in internal company jargon – thus ones breakfast reading of the goings on at Royal Mail includes – “movements in foreign exchange, ASM and GSO in GLS” Can the Board not send her for re training so that she can speak the same language as the rest of the country.
More jargon follows with the update for the 9 months to the end of December claiming 9% growth in GLS and a 2% decline in PIL. Is that good or bad, one must ask oneself. Parcel revenue rose by 3% whilst letter revenue was down by 5% as overall business uncertainty continued to affect letter volumes in the UK.
Chemring Group CHG appears to have rebounded from 2015’s problems and turned last years loss of £9.1m into a profit of £8m. for the year to 31st October. Earnings per share came in at 2.5p after last years loss of 2.4p. whilst total evenue for the year rose by 26.5% and operating profit soared from £5.5m to £ 26.2m.
Finsbury Food Group FIF suffered from flat sales in the in the 6 months to the 30th November, with the bakery division down by 2.9% as the UK retail market continued to suffer from price deflation. In contrast the European division which is 50% owned by FIF rose by 31.7%. Sterling induced commodity inflation and increases in the national living wage are expected to lead to cost inflation in the second half.
1 PM PLC OPM continued to experience high levels of demand in each of its three subsidiaries for the half year 30th November. Revenue rose by 52%, profit before tax by 23% and basic earnings per share rose from 2.91% to 3.08%
Villas & houses for sale in Greece – visit; http://www.hiddengreece.net
Dairy Crest To Be Impacted By Food Price Inflation
Dairy Crest Group DCG Expects a good first half performance, with Clover, Country Life and Frylight all showing strong volume growth for the half year which will end on the 30th September. Market share continues to be increased. However there are clouds on the horizon in the shape of price inflation which has already started and which the company expects to impact margins and butter volume in the second half. The milk price paid to farmers has risen by 12% and the price of cream has doubled in a very short period.
Petra Diamonds PDL Net profit after tax rose by 12% for the year to 30th June following only a 1% rise in revenue on production up by 16%. Petra describes these as a strong set of results despite pressure on prices in the first half and unusually it gives no further information on prices, preferring instead to the look to the future outlook it see for 2017 which it claims will be the year when all the promises start to become reality. Firstly it will enter the final stage of its expansion program and in the second half it expects to become free cashflow positive, despite some caution about future diamond prices but again no further information is provided.
Finsbury Food FIF performed strongly during the year to 2nd July with adjusted profit before tax up by 40.8% and the final dividend increased to to 1.87p, making a rise for the year of 12%. Like for like revenue was up by 5% and total revenue by 24.8%. 2016 was the year when it delivered on its growth strategy and rolled out vision and value at all levels, whatever that may mean. For 2017 claims to be excited about new innovations for muffins and doughnuts. The balance sheet is strong and it has made record capital investment for the future
Styles & Wood STY produced a strong performance for the half year to 30th June with good growth and strong cash generation. Significant success was achieved in securing long term contracts as its diversification program began to bite. The company returned to profitability with last years first half loss of £0.5m being turned into a profit of £0.4m and earnings per share coming in at 2.6p compared to last years loss of 10.2p per share. Net debt has been virtually halved.
Beachfront Property For Sale In The Greek Islands – visit; http://www.hiddengreece.net