Finsbury Food (FIF)

Company name:	Finsbury Food Group Plc
EPIC:	FIF	Trading Currency:	GBX
Market Sector:	AMQ1	ISIN:	GB0009186429
Market Segment:	ASQ1	Share Type:	DE
WWW Address:	http://www.finsburyfoods.co.uk	Description:	ORD 1P
Industry Sector:	FOOD PRODUCERS

Price	Price Change [%]	Bid	Offer	Open	High	Low	Volume
57.00	0.0 [0.00]	56.00	58.00	57.00	57.00	57.00	64,097
Market Cap. [m]	Shares In Issue [m]	Beta	EPS	DPS	PE Ratio	Yield	52-Wks-Range
74.32	130.38	0.02	7.30	3.50	7.81	6.14	105.50 - 53.00

Finsbury Food Key Figures

(at previous day's close)
Market Cap.	74.32	m
Shares In Issue	130.38	m
Prev. Close	57.00
PE Ratio	7.81
Dividend Yield	6.14	%
EPS - basic	7.30	p
Dividend PS	3.50	p
Dividend Cover	2.09
Cash Flow PS	10.37	p
Return On Equity (ROE)	8.64	%
Operating Margin	4.31	%
PEG Factor	0.02
EPS Growth Rate	329.41	%
Dividends PS Growth Rate	6.06	%
Net Debt	113.44	m
Gross Gearing	53.44	%
Quick Assets	65.91	m
Net Working Capital	20.68	m
Intangibles / Fixed Assets	63.13	%
Turnover PS	241.81	p
Pre-Tax Profit PS	10.41	p
Retained Profit PS	3.84	p
Cash PS	9.48	p
Net Cash PS	-36.57	p
Net Tangible Asset Value PS *	7.49	p
Net Asset Value PS	84.07	p
Spread	2.00 (3.45%)
* Calculation based on Ordinary Capital figure as contained in last annual report, and the most recent shares in issue figure. Therefore the ratio might be exposed to inaccuracies.

Finsbury Food Balance Sheet

Share Price Performance

Sample Period ^†	High	Low
1 week	57.00	56.50
4 weeks	59.20	55.40
12 weeks	61.00	55.40
1 year	105.50	53.00

Share Price Chart (5 years)

Finsbury Food Historic Returns

Period ^†	Open	Change	%	Open Avg.	Avg. Daily Vol [m]	Total Vol [m]	VWAP
1 week	56.50	0.50	0.88	56.50	0.07		56.82
4 weeks	59.20	-2.20	-3.72	55.40	0.08		57.31
12 weeks	60.60	-3.60	-5.94	55.40	0.16		59.17
26 weeks	59.50	-2.50	-4.20	53.00	0.33		60.44
1 year	73.50	-16.50	-22.45	53.00	0.33		73.04
3 years	102.50	-45.50	-44.39	53.00	0.23		86.41
5 years	102.00	-45.00	-44.12	53.00	0.23		97.13
† periods calculated are whole weeks rather than calendar months

Finsbury Food Key Management Ratios

Finsbury Food Investment Ratios

(Market value analysis) at previous day's close
PQ Ratio	9.44
PE Ratio	7.81
Tobin's Q Ratio	0.34
Tobin's Q Ratio (excl. intangibles)	0.57
Dividend Yield	6.14	%
Market-to-Book Ratio	0.69
Price-to-Pre-Tax Profit PS	5.47
Price-to-Retained Profit PS	14.85
Price-to-Cash Flow PS	5.50
Price-to-Sales PS	0.24
Price-to-Net Tangible Asset Value PS	6.22
Price-to-Cash PS	6.01
Net Working Capital PS	15.86
Price Pct to Working Capital PS	3.59	%
Earnings Yield	12.81	%
Average PE	25.45
Years in average	5
PE to PE average	30.69	%

Finsbury Food Financial Ratios

(Leverage Ratios)
Debt Ratio	37.50	%
Debt-to-Equity Ratio	0.60
Debt-to-Equity Ratio (excl. Intgbl)	5.50
Debt-to-Equity Market Value	0.88
Net Gearing	48.19	%
Net Gearing (excl. Intangibles)	82.35	%
Gross Gearing	53.44	%
Gross Gearing (excl. Intangibles)	91.32	%
Gearing Under 1 Year	25.50	%
Gearing Under 1 Year (excl. Intgbl)	43.59	%
Assets/Equity	2.15
Cash/Equity	11.27
(Liquidity Ratios)
Net Working Capital to Total Assets	8.78	%
Current Ratio	1.34
Quick Ratio (Acid Test)	1.10
Liquidity Ratio	0.21
Cash & Equiv/Current Assets	15.31	%
(Solvency Ratios)
Enterprise Value	129.91	m
CFO/Sales	0.04
CFO/Attributable Profit	1.46
CFO/Assets	0.06
CFO/Debt	0.11
Total Debt/Equity Market Value	1.69
Total Debt/Sales	0.40
Total Debt/Pre-Tax Profit	9.27
Total Debt	125.80	m
Total Debt/Net Current Assets	6.08	%
(Dodds - Graham Ratios)
3 yr Compound Earnings Growth	0.93	%
5 yr Compound Earnings Growth	4.71	%
10 yr Compound Earnings Growth	2.50	%
Earn drops > 5% in 10yrs	10

Beta (60-Mnth)	Beta (36-Mnth)
0.0173	0.0467

Finsbury Food Operating Ratios

(Profitability Ratios)
Return On Capital Employed (ROCE)	7.74	%
Return On Assets (ROA)	4.22	%
Net Profit Margin	2.95	%
Assets Turnover	1.43
Return On Equity (ROE)	8.64	%
Return On Investment (ROI)	6.27	%
Dividend Payout Ratio	47.95	%
Plowback Ratio	52.05	%
Growth from Plowback Ratio	4.61	%
Net Income Of Revenues	1.59	%
(Asset Utilisation Multiples)
Shareholders Equity Turnover	3.00
Fixed Assets Turnover	2.19
Current Assets Turnover	4.13
Net Working Capital Turnover
Inventory Turnover	22.31
(Other Operating Ratios)
Total Assets-to-Sales	0.70
Debtors-to-Sales	16.15	%
Debt Collection Period	58.95	Days

Finsbury Food Dividends

Announcement Date	Type	Curr.	Dividend Amount	Period Start	Period End	Ex Date	Record Date	Payment Date	Total Dividend Amount
24 Feb 2020	Interim	GBX	1.23	28/06/2019	28/12/2019	02/04/2020	03/04/2020	24/04/2020	-
16 Sep 2019	Final	GBX	2.34	29/06/2018	29/06/2019	21/11/2019	22/11/2019	23/12/2019	3.50
25 Feb 2019	Interim	GBX	1.16	29/06/2018	29/12/2018	04/04/2019	05/04/2019	26/04/2019	-
17 Sep 2018	Final	GBX	2.20	30/06/2017	30/06/2018	22/11/2018	23/11/2018	21/12/2018	3.30
19 Mar 2018	Interim	GBX	1.10	30/06/2017	30/12/2017	02/04/2018	03/04/2018	27/04/2018	-
18 Sep 2017	Final	GBX	2.00	01/07/2016	01/07/2017	23/11/2017	24/11/2017	22/12/2017	3.00
20 Mar 2017	Interim	GBX	1.00	01/07/2016	31/12/2016	30/03/2017	31/03/2017	21/04/2017	-
19 Sep 2016	Final	GBX	1.87	02/07/2015	02/07/2016	17/11/2016	18/11/2016	16/12/2016	2.80
16 Mar 2016	Interim	GBX	0.93	28/06/2015	28/12/2015	31/03/2016	01/04/2016	22/04/2016	-
21 Sep 2015	Final	GBX	1.67	27/06/2014	27/06/2015	12/11/2015	13/11/2015	10/12/2015	2.50
24 Mar 2015	Interim	GBX	0.83	27/06/2014	27/06/2015	02/04/2015	07/04/2015	24/04/2015	-
22 Sep 2014	Final	GBX	0.75	28/06/2013	28/06/2014	12/11/2014	14/11/2014	10/12/2014	1.00
25 Mar 2014	Interim	GBX	0.25	28/06/2013	28/06/2014	02/04/2014	04/04/2014	25/04/2014	-
24 Sep 2013	Final	GBX	0.50	29/06/2012	29/06/2013	20/11/2013	22/11/2013	11/12/2013	0.75
25 Mar 2013	Interim	GBX	0.25	29/06/2012	29/06/2013	03/04/2013	05/04/2013	26/04/2013	-
29 Oct 2008	Final	GBX	2.20	30/06/2007	30/06/2008	29/10/2008	31/10/2008	05/12/2008	2.20
18 Sep 2007	Final	GBX	2.00	30/06/2006	30/06/2007	31/10/2007	02/11/2007	07/12/2007	2.00
19 Sep 2006	Final	GBX	1.50	30/06/2005	30/06/2006	08/11/2006	10/11/2006	08/12/2006	1.50
20 Sep 2005	Final	GBX	1.20	30/06/2004	30/06/2005	09/11/2005	11/11/2005	09/12/2005	1.20
29 Sep 2004	Final	GBX	1.00	30/06/2003	30/06/2004	10/11/2004	12/11/2004	10/12/2004	1.00
24 Sep 2003	Final	GBX	1.00	30/06/2002	30/06/2003	05/11/2003	07/11/2003	10/12/2003	1.00
05 Jul 2000	Final	GBX	0.25	31/03/1999	31/03/2000	04/09/2000	08/09/2000	02/10/2000	0.25
29 Jun 1998	Final	GBX	0.25	31/03/1997	31/03/1998	06/07/1998	10/07/1998	01/10/1998	0.25

Finsbury Food Fundamentals

	02 Jul 2016 (GBP)		01 Jul 2017 (GBP)		30 Jun 2018 (GBP)		29 Jun 2019 (GBP)
turnover	319.68	100.00%	314.30	100.00%	303.60	100.00%	315.28	100.00%	m
pre tax profit	11.79	3.69%	13.02	4.14%	4.48	1.47%	13.58	4.31%	m
attributable profit	7.79	2.44%	9.05	2.88%	2.18	0.72%	9.29	2.95%	m
retained profit	4.49	1.40%	5.40	1.72%	-1.78	-0.59%	5.00	1.59%	m
eps - basic (p)	6.10		7.10		1.70		7.30
eps - diluted (p)	6.00		6.90		1.60		7.00
dividends per share	2.80		3.00		3.30		3.50

Finsbury Food Balance Sheet

	02 Jul 2016 (GBP)		01 Jul 2017 (GBP)		30 Jun 2018 (GBP)		29 Jun 2019 (GBP)


	02 Jul 2016 (GBP)		01 Jul 2017 (GBP)		30 Jun 2018 (GBP)		29 Jun 2019 (GBP)
ASSETS
fixed assets	50.50	25.54%	48.86	24.45%	49.92	24.34%	57.01	24.22%	m
intangibles	77.60	39.24%	80.30	40.19%	83.31	40.62%	97.66	41.49%	m
fixed investments	0.24	0.12%	0.30	0.15%	0.03	0.01%	0.03	0.01%	m
current assets - other	-	-%	0.56	0.28%	0.56	0.27%	0.18	0.07%	m
stocks	12.58	6.36%	12.68	6.35%	13.46	6.56%	14.81	6.29%	m
debtors	53.82	27.22%	54.08	27.07%	48.47	23.63%	53.38	22.67%	m
cash & securities	3.02	1.53%	3.02	1.51%	9.36	4.56%	12.36	5.25%	m

TOTAL	197.76	100%	199.81	100%	205.11	100%	235.42	100%	m

LIABILITIES
creditors - short	79.80	40.35%	76.95	38.51%	84.12	41.01%	60.04	25.50%	m
creditors - long	16.89	8.54%	17.85	8.94%	16.40	8.00%	65.76	27.93%	m
creditors - other	-	-%	-	-%	-	-%	-	-%	m
subordinated loans	-	-%	-	-%	-	-%	-	-%	m
insurance funds	-	-%	-	-%	-	-%	-	-%	m

TOTAL	96.69	48.89%	94.80	47.45%	100.52	49.01%	125.80	53.44%	m

EQUITY
ord cap, reserves	99.49	50.31%	103.12	51.61%	102.51	49.98%	107.43	45.63%	m
prefs, minorities	1.58	0.80%	1.89	0.94%	2.07	1.01%	2.19	0.93%	m

TOTAL	101.07	51.11%	105.00	52.55%	104.58	50.99%	109.62	46.56%	m

OTHER
NAV Basic	-		-		-		-
NAV Diluted	-		-		-		-

Finsbury Food Cash Flow Statement

	02 Jul 2016 (GBP)	01 Jul 2017 (GBP)	30 Jun 2018 (GBP)	29 Jun 2019 (GBP)
Operating CF	20.31	18.93	18.35	13.52	m
Pre-Financing CF	15.31	6.30	6.51	-14.42	m
Retained CF	3.12	-0.12	6.35	2.88	m

Finsbury Food Brokers

Name	Activity	Type	Mnemonic	Code
Panmure Gordon (UK) Limited	Market Maker(MMF)	Broker/Dealer	PMUR	PMURGB2L
Shore Capital Stockbrokers Ltd	Market Maker(MMF)	Broker/Dealer	SCAP	SHOCGB21
Winterflood Securities Ltd	Market Maker(MMF)	Broker/Dealer	WINS	WNTSGB2LBIC