Bagir Share Discussion Threads

[buffskins] 03/9/2018 13:58

Eran Itzhak, Chief Executive Officer of Bagir said:

"We are delighted to be putting this proposal to our shareholders as we believe it to be transformative, creating a platform from which Bagir has the potential to become a significant player in our market of apparel manufacturing."

[buffskins] 03/9/2018 13:51

cheers moneymunch .. totally agree with you

[moneymunch] 03/9/2018 13:40

This is a no brainer buffskins, Ruyi will have big plans to multiply revenues....double figures on the horizon imho. Gl :-)

[t0pgrader] 03/9/2018 12:14

Give it up moneymunch. We can all read the statements and decide for ourselves on timescales so no one here needs your endless rampings

[moneymunch] 03/9/2018 11:15

The half yearly results are due soon , and so let's see how many corners have been turned since....and with a stroke of a pen , Bagir's order book is likely to increase expotentially as Ruyi transfers new business and supply contracts to the duty free Ethiopian base....Transformational upside very likely from now on in. Gl :-)

[moneymunch] 03/9/2018 11:15

The half yearly results are due soon , and so let's see how many corners have been turned since....and with a stroke of a pen , Bagir's order book is likely to increase expotentially as Ruyi transfers new business and supply contracts to the duty free Ethiopian base....Transformational upside very likely from now on in. Gl :-)

[jon1962] 03/9/2018 10:46

Thx.I will assume the debt which is implied in the latest accounts of $11 mill is not significant given the $16 mill due to be received!

[moneymunch] 03/9/2018 10:38

Latest Accounts statement.....Gla :-)

Ps Ruyi will transform Bagir's fortunes with their 54% controlling stake....:-)

During 2017 Bagir agreed three key transactions which are expected to form the basis of the company's future success," Bagir Chief Executive Officer Eran Itzhak said. "The proposed agreement with Shandong Ruyi being the most material and potentially transforming."

In November, Bagir announced a strategic partnership with China-based textile manufacturer Shangdong Ruyi. As part of the deal, Shangdong Ruyi proposed to invest USD16.5 million in Bagir to accelerate development of its Ethiopian manufacturing facilities.

"From a trading perspective Bagir experienced a challenging year, however, good progress was achieved in developing our key manufacturing sites together with further cost saving initiatives which will ensure we remain profitable and positioned to accelerate especially once the USD16.5 million investment from Shandong Ruyi is completed", Itzhak added.

"2017 was undoubtedly a strategically important year for the business. Looking ahead for 2018, trading conditions are likely to be similar to those experienced in 2017 meaning that the actions taken to reduce costs will be important in order to ensure that the company remains profitable. Alongside this, Bagir will be working to complete the agreement with Shandong Ruyi and invest behind the potential of our manufacturing bases, particularly Ethiopia, so that the Bagir is in the best possible place to be able to compete for the key apparel manufacturing contracts from the worlds' largest retailers."

[jon1962] 03/9/2018 10:24

The results indicated bank debt repaid but the results show debt of $11 million .? (I know 16 mill due to be received)

[liamnich04] 03/9/2018 09:14

Read the entire RNS

Very, very exciting times ahead - Especially bringing in a load of new directors and the plans to cut costs and increase profitability focussing on the USA market

3p to buy

Weak flushed right out in the 2.6 area .. shame

[noirua] 03/9/2018 09:04

A price 2.6p - 2.7p looks fair as short term speculators sell on the news. Looks OK to buy at this level.

[moneymunch] 03/9/2018 08:47

This will re-rate soon enough....Gla holders:-)

[babbler] 03/9/2018 08:38

Not sure you've said that in enough boards yet...

[costax1654x] 03/9/2018 08:13

Sbtx RNS boom time.Big rerate to come

[moneymunch] 03/9/2018 08:10

ps and factor in the escalating trade war between China and the US, no doubt Ruyi will be keen to transfer new business and supply contracts to Bagir's 100% owned duty free Ethiopian manufacturing base to take full advantage . Gla ;-)

[moneymunch] 03/9/2018 08:09

The Chinese textile manufacturer approached Bagir in June 2017 with conversations initially centred around the Ethiopian operations before widening to the whole business.

Shandong Ruyi is expected to make substantial cost savings from the deal. Itzthak said the numbers spoke for themselves: In China the cost make per suit is $18, which is not duty-free , when it comes to the US, theres an added 28% on top of costs. But the cost per suit in Ethiopia is between $3-$5, and its duty-free to the US and Europe.

[oakville] 03/9/2018 08:08

No. All funds tied up.

[babbler] 03/9/2018 08:08

So you bought then...?

[oakville] 03/9/2018 08:07

Had a quick proper look. I would say you will see the share price over 5p by the end of the week.