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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Carrs Mill. | CRM | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 141.50 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 141.50 | 141.50 |
| Top Posts |
|---|
Posted at 02/4/2014 08:33 by sheyac CRM is a very solid company with a great track record imo. I think its a very peter lynch style investment.Speaking of, how does one go about proposing something like a stock split? Do you need to hold a minimum %? I think increasing liquidity would prob help as I imagine the wide spread puts off a lot of investors. |
Posted at 14/1/2014 13:05 by mctmct Paul Scott todayChecking the archive, I don't seem to have mentioned Carrs Milling Industries (LON:CRM) before - probably because it looks a fairly boring, low margin business with various activities around agriculture, food, and engineering. The shares have done well in the last year though, being up about 60%. So boring can be lucrative. It has issued an in line with expectations trading update this morning for the 19 weeks to 11 Jan 2014, being most of their H1 period (it's a 31 August year end). It reports net debt has risen to £28.2m at 30 Nov 2013 - it's not clear why they are reporting up to date sales, but the net debt position from seven weeks ago - seems odd. The dividend yield is an unexciting 2.0% (forecast), and the forward PER is 12.7, so it looks priced about right in my opinion, based on the most cursory of glances at the figures. Although it's worth noting that the dividend is about four times covered, so if I were a shareholder I'd be pushing for a more generous dividend. Surely they could double that to give a 4% yield, and still be twice covered? That's what mature businesses should do - pay out their earnings to shareholders, as demonstrated today by Moss Bros. We're in a bull market, so I can't imagine investors generally will get very excited about this share, which doesn't seem to have any attractive growth planned, although management do say today that they are exploring growth opportunities, so maybe they'll come up with something? |
Posted at 19/6/2013 10:16 by shauney2 Good results from WYN this morning.A good read across to CRM.Investors chronicle bullish on agriculture related companies. |
Posted at 13/4/2008 20:52 by grigor April 11, 2008The Rarity That Is Carr's Milling Industries By Sally White Now here's a rare find: a UK-quoted company in the agriculture sector. We're talking Carr's Milling Industries here, an engineer, an animal feeds, fertiliser and flour manufacturer. But it's nothing new. Parts of Carr's have been around for 175 years, looking after Cumbria's farmers. In a regime of soaring agriculture prices this must be a 21st century market star. And going beyond agriculture, this little conglomerate even has a finger in alternative energy. It is a manufacturer of remote handling equipment for the nuclear industry as well as processing plant for oil, petro-chemicals and water. What a pity it is down among the minnows of the stock market this is just the kind of company into which so many of the new agriculture funds are seeking to put their growing cash piles. Carr's share rice rose by 102p or 21 per cent on 7th April after it announced a 46 per cent rise in interim profits. Even after that leap in value though, the company was still only capitalised it at a mere £67 million. A look at the company's website would suggest that it is as unaccustomed to receiving investors' attention as the market is to noticing Carr's neither the interim results nor the share price feature. Yet it is right up at the new front-line, benefiting from higher prices for wheat and fertilisers. What's more it's has been able to pass on these price rises to its customers as well as adding engineering products in the energy area to its offering. "Food inflation is here, and here to stay," was chief executive Chris Holmes's comment on the new state of affairs in agriculture. Carr's Milling has even been able to increase some market share. The interim story for the period to end March was a pretty good one in all areas bar engineering. All four of the agriculture related activities - animal feed manufacture, fertiliser blending, agricultural retailing and oil distribution - performed well. Operating profit from these activities rose by 56.9 per cent to £4.02 million on revenue up by 45.1 per cent at £118.82 million. On the food subsidiary side operating profit rose by 21 per cent to £1.11 million on revenue up by 57.9 per cent to £39.68m. That was mainly because of flour price increases and a cost reduction programme. Chairman Richard Inglewood was able to state that "improved farm incomes are benefiting our business. We are selling more products at better margins in the UK and seeing encouraging trends in our overseas agricultural markets. The agriculture division will continue to drive the performance of the Group. A more stable backdrop in food will further enhance profitability. The trends are positive for the second half of this year and beyond." He added: "Our positioning in speciality products, particularly in the Agricultural market, is driving increases in both margins and sales, whilst food price inflation is enabling us to recapture much of the lost margin in our food business. These factors combine to give us a high degree of confidence in the full year". The background against which Carr's has done so well includes the 50 per cent increase in milk prices towards the end of last year, which has enabled the farmers to pass on rising animal feed and energy costs. In the US and in Europe farmers are also able to pass on price rises. Carr's low moisture feed block businesses in the US and Germany were faced with higher prices for molasses, a main ingredient, but were able to pass on most of this added cost. Carr's' market share in this area is growing as it has a joint venture in Germany that is now selling to Russia. Meanwhile, revenue from fertiliser sales was up 114 per cent on volumes up 60 per cent, as compared to the interim period last year. Carr's has benefited from farmers buying early to secure supply and to offset further price increases. In addition, Carr's leading market position in Scotland and north west England and the success of its niche, slow release environmentally-frie With farmers' incomes improving, sales at Carr's 14 retail branches gained by 10 per cent, accelerating in the second quarter. Revenue from fuel sales increased by 70 percent, partially because of the acquisition of Johnstone Fuels & Lubricants in January 2007. In its food business Carr's now faces strong and rising grain costs. But the company's cost-cutting programme makes it hopeful that the improving profit trend will continue, however, and it is protecting its position by buying forward where possible. Even in engineering, which was disappointing this time round, with sales down 14.7 per cent at £3.3 million and profit 16 per cent lower at £0.5 million, Carr's is optimistic. It says that underlying trends remain healthy. The decline in sales and profitability "reflected the part completion of one particularly difficult contract for the supply of vessels". This contract will be completed in the next few months. House broker Investec raised its profit forecast after the interims to £7.6 million for the year. That still leaves the prospective price earnings multiple at only 9.1 even after the share price rise. Not surprisingly chief executive Chris Holmes and finance director Ron Wood followed up their interim City briefings by promptly taking up their options to buy some more shares. |
Posted at 07/3/2006 13:26 by spaceparallax What a strange little blip that was - sadly, it probably demonstrates the extent of concerned investors vs those feeling bullish. Please, please CRM give us some fuel in order that we can escape the gravitational pull of the 450p level. |
Posted at 14/12/2005 21:27 by samg99 penpont - my guess is that a lot of the sells were from uninformed investors who didn't realise it was XD and were shaken out by the initial markdown (small though it was).And/or the sellers were not just ignorant, but utterly stupid ;-) |
Posted at 28/11/2005 10:22 by samg99 Surely not because of the IC tip. Chronic Investor tips normally go up on Friday and down the following Monday ;-) |
Posted at 21/11/2005 08:11 by renegade master These are sparkling results! If what the company did was more exciting to investors (making something excitingly technical and not understandable) they would be pushing 700p. At the very least they must be worth 600p surely! I guess these shares are just under most people's radar. |
Posted at 30/1/2005 12:21 by cockneyrebel I see Robbie Burns has mentioned CRM again today - I think he's right that investors have underestimated them.Look at the earnings record here over 5 years. 14.6p, 24.7p, 32.8p, 33.1p, 38.7p (44.7p forecast for 2005). Even when these have had to put up with the big set back of Foot & Mouth a few years ag they will have still grown earnings 25% pa compound over five years come this year. That's a pretty amazing continuous growth record that few companies can say they have achieved let alone one that had to deal with the disaster of Foot and Mouth in that time. This is a business on a PE of 12.4 for this year, a PE of 10.8 for next year and a record of beating expectations. It also pays a 2.5% yield. Have a look for any other business with this sort of track record and it will be on a much higher PE. Non cyclical too as animals eat all year round, we need more animals to provide food so it's a stable growing business. This is one of the few companies that genuinely qualifies for a PEG, having 5 years continuous earnings growth. CRM has a PEG of 0.48 - that is very cheap. Strong stable earnings growth averaging at 25% compound on a PE of 12. Such reliable, strong earnings growth deserves higher PE imo. A PE of 15 would be well deserved imo which would give a share price of 670p. I reckon these will re-rate further once the interims are as the stock is attracting more interest and strong interims will excite investors more. A great stock to tuck away like Robbie has done imo, and let it get on with it. I think there's a 100p rise in these between now and the interims in April. CR |
Posted at 14/11/2004 15:34 by diogenesj Tipped in yesterday's Investors Chronic (and before you all laugh, let me inform you that the derided organ is not always wrong):The shares have had a great run since we tipped them at 332p (11 June, 2004), but still remain on an undemanding 8.9 times full-year earnings forecasts. Buy. And I'm reliably informed (by britishb) that another well-known tipster named after a Scottish poet is also backing them. |
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