Carrs Mill. Share Discussion Threads

[cat] 02/2/2005 17:10

added today - yummy

[cockneyrebel] 02/2/2005 13:56

I agree - going to get 650p by stealth between here and April results imo - I suspect omst won't notice it achieve it tho as it moight be a relentless few pences day after day.

Firming up on level II, just 1 on the offer

CR

[cat] 01/2/2005 16:58

looking ready for another run...

[diogenesj] 01/2/2005 10:01

Current forecasts for 2005 according to Refs are Investec 44.7p, Pereire Tod 45.7p, Shore Capital 43.6p, consensus 44.7p.

For 2006 Investec 51.3p, Pereire Tod 51.7p, Shore Capital 49.4p, consensus 51.5p.

Still deserves a higher rating imo.

[dodddy] 01/2/2005 07:39

added to my holding at 562 yesterday

[chrisg] 31/1/2005 23:55

According to yahoo, there's a second current year forecast of 45.7p, producing a consensus eps of 45.2p. Consensus for the following year is now 51.49p. Not massively different from the figures used so far on this thread, but it is all in the right direction.

[sealed] 30/1/2005 16:46

yesterdays telegraph

Carr ploughs a valuable furrow

I've got a brand new combine harvester and Carr's gave me the key. That may not be exactly how the old Wurzels' song goes but Carr's Milling Industries sells farm supplies and machinery – on top of animal feed, fertiliser and its flour milling businesses.

It must be ploughing a very fertile furrow as the shares touched a new high of 551p this week, after climbing 50pc in the last three months.

The company has bounced back well from the foot and mouth crisis – Carr's is based in Cumbria, one of the centres of the troubles in 2001. It reported full-year, pre-tax profits up 26pc at £5.13m last November and it has started the year well. Margins should pick up at its food business, which last year suffered on the back of high grain prices.

Carr's has more than doubled its flour milling capacity by buying Fife-based Meneba for £4.7m in addition to taking on £5.4m of debt. Trading at Meneba since the deal was completed in November has been slightly ahead of expectations, the company says.

The group is not solely reliant on the vagaries of the harvest. It also owns an engineering business, making high-grade equipment for the energy industry.

After a difficult couple of years its order book and margins are picking up.

Despite the good run, the shares could have further to go. The shares are trading at 12 times forecast earnings with a prospective yield of 2.6pc, with plenty of asset backing – the equivalent of nearly 300p a share. Good value.

[cat] 30/1/2005 15:49

CRM and CWK have very similar charts and stock actions - both food plays having had their prospects transformed by solid management and clever aquisitions.

[cockneyrebel] 30/1/2005 12:21

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

[cat] 27/1/2005 22:39

look set to run up another 50-75p

[cockneyrebel] 27/1/2005 20:38

Time to top up here imo - I reckon these will walk steadily up hill between now and the April results - reckon they are going well beyond £6 myself.

These have a fabulous record of earnings growth over many years, even bouncing backfrom foot and mouth. MER trades on a forward PE in the 20's and the earnings record is no better. CRM have a fab recorsd and I reckon they will start to re-rate as the interims approach. £6.50 after the interims imo, may even do better than that I reckon with a fair wind

CR

[shirishg] 20/1/2005 01:37

Post removed by ADVFN

[chrisg] 20/1/2005 00:38

Hey Cat, have you moved your target? It was £7.62.

[cat] 19/1/2005 23:03

about £4 more

[dodddy] 19/1/2005 15:16

still think theres a lot more to go on this

[evilwebby] 19/1/2005 15:07

Fantastic going from CRM. One of my star performers and core holdings. MoO!

[royaloak] 19/1/2005 13:27

even nicer.......well into new territory now when you consider it is also X the 9p final dividend.

[royaloak] 08/1/2005 09:59

cat/aderimi

Thanks.

[sammu] 08/1/2005 00:28

Thanks for the info Cat. More new teritory.

Sam

[aderemi] 06/1/2005 22:49

The name "aderemi" is from africa, deep in the heart of nigeria.