Zetar Share Discussion Threads

[blobby] 21/2/2011 10:28

Yep, I'm an investor and if this were an IT company I'd run a mile, but I'm comfortable with the lack of spin and gloss. I believe the management are well respected in their field. But for one disaster they had with a takeover, they would be much higher rated.

[saucepan] 21/2/2011 10:15

Cheers blobby, and good luck if you are a holder. As I say, I was tempted - I can see the fundamental case, but that kind of lack of attention to detail has put me off when there are other good investment alternatives.

[blobby] 21/2/2011 09:46

Hi Saucepan, I think you have a point.

Some things are not so bad, for example the latest interims and annual reports are there and I guess the phone numbers still work. They need to send their website provider a list of problems, like "Copyright 2007" and, as a minimum, just get them to remove stuff that is now out of date.

[saucepan] 19/2/2011 17:17

I wonder if ZTR staff look in on this thread?

I tried to email the Company using its website "Contact" facility. However, it does not work!!!


This was my message:

A prospective investor put off by your website. It looks antiquated. Moreover:

"The next Annual General Meeting is scheduled to be held on 25th September 2008 (to be confirmed)."

That hardly inspires confidence!

Hope you find the feedback helpful despite its critical nature.

[blobby] 09/2/2011 14:43

Interesting write up lkos, it's nice to see some coverage.

[blobby] 27/1/2011 10:46

There seems to be a bit of a decline following results, but trading is very light for £28m cap company.

[blobby] 25/1/2011 13:07

Yep no big surprises, although I was interested to see on page 12: a charge of £487,000 for "Other financial expenses relate to the one-off costs incurred in terminating the Group's previous bank facilities combined with the cost of establishing new facilities with HSBC."

Are we being ripped off by the banks here? When compared to peak borrowings of £26 million this seems like a 2% arrangement fee. £447,000 paid in interest though which seems quite good.

[uncleoswald] 25/1/2011 09:15

So, results out.
No surprises.
Company to meet expectations for the full year.
Plenty of upside.

[strollingmolby] 19/12/2010 10:28

Appreciate the write-up, Max - certainly whets the appetite!

[maxcashflow] 18/12/2010 23:10

Following the presentation I've put together a bit of a writeup over on the Fool:

[davidosh] 13/12/2010 10:39

I appreciate this is a very quiet board but hopefully we can get Zetar on the map a little...There is a presentation tonight if any of you would like to join us..

[mtness] 17/11/2010 11:23

ZTR was tipped as a 'tiddler to watch' in the Times today -



Is it really a tiddler ?

[horndean eagle] 16/11/2010 08:14

Happy enough with today's statement. They expected sales growth to slow versus strong comparisons last year. On target for forecasts. Far too cheap.

[blobby] 28/9/2010 09:15

silverfern,

I didn't read it as a planned payment, or if it was then not one that was expected to arrive as "No amount had been recognised in the Group accounts" and
Baked Snacks is in administration. Just enough extra to give us a small dividend?


Update on disposal of The Baked Snacks Company Limited ("Baked Snacks")

Zetar, the AIM listed confectionery and snack foods group, announces the receipt
of further cash consideration of approximately GBP0.5 million (net of costs) in
respect of the disposal of Baked Snacks ("the Disposal") on 30 April 2009. No
amount had been recognised in the Group accounts in respect of deferred
consideration and hence this receipt will be recognised as an adjusting item in
the accounts for the current financial year, ending 30th April 2011.

Combining this latest receipt with the consideration received in 2009, total
cash consideration from the Disposal therefore has amounted to approximately
GBP1.2 million. Baked Snacks is currently in administration and the sale of its
realisable assets has been concluded by its administrators. Therefore, Zetar
does not expect to receive any further consideration with regards the Disposal.

[silverfern] 27/9/2010 17:24

it was a planned payment but I doubt it was factored in the share price (at £26m). They sold a loss making company and they've got £1.2m for it- just good business, as ever.

[blobby] 27/9/2010 15:16

Yep, good news today.

To put it into perspective: Market cap is 26.81 so an unexpected 0.5 million is worth 1.8% of value. A loan facility negotiated last week was 45 million and I think borrowings are currently 13 million.

I'm hoping for a post tax profit of 5 million this year which gives a p/e of 5.4 which is much too low. No dividend though (which is a shame) but means we can expect expansion and / or takeovers. Lets hope they make good decisions.

[silverfern] 27/9/2010 11:51

Well it's not one to day trade! COmfortable this will come good however - £0.5m in today from the sale of a company in 2009. COUld be used to pay off a slice of debt. All helps.

[blobby] 24/9/2010 23:57

Good write up on the fool today:



and interesting announcement about banking facilities. We seem to be moving forwards, although I'm slightly worried about the possibility of another acquisition.

[blobby] 23/9/2010 12:57

A big trading day today it seems:

Time Price Volume Block Price Bid Ask
11:54:32 191p 97,292 £185,828 187p 195p
10:19:22 187p 464 £868 187p 195p
10:19:03 192p 5,000 £9,600 185p 195p
9:06:14 185p 649 £1,201 185p 195p


I looked at trades before I bought and could not see anything like this. I'm guessing that the trade at 191p is of sufficient size to have been an arrangement between institutional investors. i.e. one selling and the other buying. I take it as positive, although having just bought myself I'm bound to be bullish.

[blobby] 22/9/2010 15:50

For the record... (and I realise that I could edit this later). I've just become a shareholder in ZTR again at 190p.

Reasons: low p/e, encouraging Annual Report, Defensive, Quality list of large shareholders, One or two tip sheets covering this.

[silverfern] 21/7/2010 12:28

I read into the report they are going to refinance what they owe plus be given licence to spend on acquisitions. Maybe I read too much into it. As it stands they can be a cash cow in 18 months with no debt

[nickcduk] 21/7/2010 08:50

I went back for seconds at 215p once I had put some more money into my account. Was a no-go. There is an overhang but once cleared it should move sharply higher. Defensive stocks back in favour

[wjccghcc] 21/7/2010 08:41

Agreed. Bought at 214p and 217p. Look cheap on an EV/FCF basis as well. Only negative has been the dependence on s-t debt but that's reduced nicely.

[nickcduk] 21/7/2010 08:26

That isn't going to last long.