Glisten Share Discussion Threads

[hughlss] 19/9/2005 22:54

I've been informed that there was a glittering report in the AIM portfolio recommendation of IFG. I'm trying to get further details - can anyone confirm?
Glisten looks set to go considerably higher judging by the bullish sentiment.
I was very much hoping to add to my existing holding at 2.85 - left it a bit late!!

[slj] 19/9/2005 12:26

Thanks DiogenesJ, I thought something was up...

[diogenesj] 19/9/2005 12:21

Daniel Stewart have revised their forecasts upwards and issued a buy note this morning.

[slj] 19/9/2005 12:16

Just wondering if this has been tipped anywhere over the weekend? Anybody know?

[mattclarke] 15/9/2005 12:30

level 2 now 2 v 1 and some big cross trades going through. Could be a good time to top up.

[slj] 14/9/2005 08:18

The Telegraph - 14 Sept 2005

Glisten Tastes Sweet

Chocolate and sweets maker Glisten has a ferocious appetite for acquisitions. It gobbled up several fun-sized rivals last year plus a gobstopper that helped to double sales.

Buying Halo Foods at the end of 2004 gave the company a foothold in the fast-growing cereal bar market as well as an ingredients business called Nimbus.

Any investors that feared a toothache were yesterday relieved to see Aim-listed Glisten report pre-tax profits up 22pc to £1.62m. The shares jumped 7pc on news that Halo has been integrated faster than expected.

Glisten has cut its reliance on Christmas with the acquisition of Halo and Nimbus, which are non-seasonal businesses. Now it's free for a fresh dive into the pick 'n' mix but further acquisitions are more likely to be bolt-ons rather than something the size of Halo.

Glisten is still keen to move into new areas such as savoury snacks. Chief executive Paul Simmonds also wants to bolster the export business, which is ticking along soundly. With relatively low gearing, Glisten is well placed for more deals, provided it doesn't get greedy and over-extend itself.

The shares, up 20 to 284½p yesterday, are trading at 14 times forecast earnings and, while the prospective yield is an anaemic 0.5pc, there is plenty of room for growth. Suck it and see.

[diogenesj] 13/9/2005 11:36

These are actually rather astounding results, CR. Adjusted eps at 21.8p are ahead of the previous consensus forecast for 2006. I think we must now see very substantial increases in the forecasts for 2006 and 2007. Cash flow is pretty good, and gearing on the increased capital is 52%, a little lower than last year. I have added this morning and expect to hold for some time.

Here's a bit I liked from the chairman's statement:

"Outlook

The current year has started extremely well, with sales ahead in all divisions
and overall sales for the first two months of the year have more than doubled
and are up 16% on a like for like basis."

[cockneyrebel] 13/9/2005 11:00

Bought a few this am - look cheap for this sort of growth and ahead imo.

Dan Stewart reitterated their buy this am.

CR

[mattclarke] 13/9/2005 10:49

This stock now looking very cheap, especially with the excellent outlook. It reminds me of Interlink Foods all over again and we all know the returns that stock has given.

[diogenesj] 13/9/2005 10:48

Great stuff.

[slj] 13/9/2005 08:09

Excellent results!

Highlights:


* Turnover increased 99% to #41.2 million (2004: #20.8 million)

* Profit before tax and amortisation and exceptional item increased
68% to #3.02 million (2004: #1.8 million)

* Adjusted earnings per share up 51% to 21.8 pence (2004: 14.4 pence)

* Strong cash generation from operations up 86% at #3.9m (2004: #2.1m)

* Final dividend of 0.6 pence per share proposed

* Sales in the first two months of current financial year have more
than doubled

* Excellent maiden contributions from Halo and Nimbus acquisitions

* Significantly strengthened divisional senior management team

[mattclarke] 12/9/2005 09:08

Very little interest considering results are tomorrow.

[slj] 24/8/2005 12:53

Yes, the MMs are definitely short - they'll pay 2p over bid for 7.5k online but will only let you have 1.5k at only ¾p below offer. Results on 13 Sept.

[cravencottage] 24/8/2005 09:51

hughlss

The online limits have just tightened up and if we have a repitition of the last time the next leg up for GLI is just around the corner.

TDW is indicating Just 875 shares on the offer and yet bidding for 3500 +

CC

[cravencottage] 23/8/2005 15:20

So Glissen have appointed KBC as their new broker with immediate effect.

In theory this has been done to put Glissen on a few more institutional radars.

Not long to wait for results in any case.

CC

[hughlss] 18/8/2005 08:23

Putting my money where my mouth is - just topped up with another 2000 - (at a price of 256.63)by 'phone - online limit now 500!
And the price has moved up already.

[hughlss] 18/8/2005 08:05

Sorry, gave the wrong impression - never thought of picking up the 'phone to place an order!! I just made the assumption that 750 shares was the limit. I was wrong.
I'm as bullish as the next man on Glisten - have been from the start - have to say it's a bit boring tho' - I find myself struggling to say anything truly worthwhile - I mean how much can one say about popcorn, Skegness, and chocolate coated peanuts?
Sorry about the drivel, but glad the posts have picked up a bit.

[slj] 17/8/2005 10:42

Absolutely

[diogenesj] 17/8/2005 10:38

Quite right, of course, SLJ. I was questioning the logic of hughlss's post. If it is more difficult to buy than to sell online, I should have thought that was another reason for buying.

[slj] 17/8/2005 10:04

DiogenesJ - GLI has always been illiquid, it's not often you can buy more than 7.5k online. Yes, you can very often buy more than you're offered online when you phone your broker, but the online size is a strong indication of where the price is heading, imho.

For the past couple of months, the MMs have been willing to sell you much more online than they have been willing to buy off you. The situation reversed on Monday and the price went up.

[diogenesj] 17/8/2005 09:51

It's certainly illiquid, but yesterday's trades suggest that it is quite possible to buy 2,000 or so at a time, if you are prepared to resort to picking up the phone. :-)

[slj] 17/8/2005 08:30

hughlss - why do you say that?

[hughlss] 16/8/2005 23:09

Odd that this is such a sound, solid investment, yet attracts so little attention.
Certainly seems to be a better class of investor on this BB - and richer too!!
I was thinking about adding another 2,000 or so before the results, until I read your post SLJ!

[slj] 15/8/2005 14:00

We're back again to only being able to buy 750 shares online.....

Squaregain will take 7.5k off you, but will only let you buy 750 online now - looking good.

[hughlss] 08/8/2005 16:23

Results to be announced on 13th September - I. too, expect to see price movement before very long - and have topped up!