Carrs Mill. Share Discussion Threads

[pjhutchy] 23/4/2013 11:00

Yes they are doing well. I like the diversification of the business. The robotics and slave manipulation side looks interesting and can see a lot of growth their.

[broadwood] 23/4/2013 09:50

Running again.

[broadwood] 23/4/2013 09:09

Investec Carr's Milling Industries PLC 23/04/2013 Retains Buy Buy 0 1,400.00 1,400.00 1,209.00 0 2

[citymohawk] 23/4/2013 08:52

This could be my next two bagger by the looks of it :D

[pjhutchy] 16/4/2013 14:22

Excellent results. The company is undervalued and defensive. The weather seems to be getting more extreme which should help the animal feeds business in future years as well. A good long term hold.

[broadwood] 16/4/2013 10:38

Just ticked up another 60p.

Jubbly.

[broadwood] 16/4/2013 10:37

Nice TP.

Investec Carr's Milling Industries PLC 16/04/2013 Retains Buy Buy 0 1,125.00 1,400.00 1,059.00 275 2

Carr's Milling Industries increased half year profit by more than a third as adverse weather conditions in the UK and US increased demand for animal feed products.

The Cumbria-based firm reported pre-tax profit of £10.1m during the half year-ended March 2nd 2013, up from a £7.4m profit a year earlier. Revenue for the period increased to £231.6m from £196.0m.

Group operating profit climbed to £8.8m compared to £6.7m while basic earnings per share increased to 80.8p from 54.0p.

Agriculture revenue jumped 17.8% and pre-tax profit rose 21.4%, following strong demand for animal feed in the UK and US.

"In the UK, the wet summer and autumn had an adverse impact on the quality of forage available and the duration and intensity of the 2012/13 winter has stimulated demand for compound feeds, in particular," the group explained.

"In the US, the summer droughts of 2012 covered two thirds of the land area and 80% of the nation's farm land resulting in low quality forage. In a similar position to the UK, the subsequent harsh winter conditions have not been favourable for farmers."

Chairman Chris Holmes added: "The performance of the group in the first half has been strong, significantly helped by the trading conditions created by global weather patterns. We anticipate that the benefits to the group of the adverse weather will continue in quarter three."

Food revenue was up 8.0% and profit before tax up 10.9% as cheaper imported wheat offset volatility on flour milling.

Engineering revenue surged 81.9% and pre-tax profit rose 39.0%, reflecting demand for remote handling equipment and specialist fabrications from nuclear, petrochemical and other industries.

An interim dividend payment of 7.75p has been offered, up from 7.25p previously.

[broadwood] 16/4/2013 08:08

Pre-tax profits at agriculture, food and engineering group Carr's Milling rose by 36.2% to £10.1m in the 26 weeks to 2 March.

Revenue rose by 18.1% to £231.6m and the first interim dividend of 7.75p per share is 6.9% up on last time.

Agriculture revenue rose by 17.8% and profit before tax increased by 21.4%, with animal feed benefiting from adverse weather conditions, feed blocks experiencing strong demand in the UK and US, and retail and fuel distribution continuing to expand in Scotland and Northern England.

Food revenue was up 8.0% and profit before tax rose by 10.9% with cost-effective access to imported wheat offsetting volatility on flour milling. The new mill in Kirkcaldy is on target to start production in September with over-capacity in Scotland reduced through closure of a competitor in Glasgow.

Engineering revenue rose by 81.9% and profit before tax was up 39.0%, reflecting demand for remote handling equipment and specialist fabrications from nuclear, petrochemical and other industries. Phase 2 of new factory in Germany complete and final phase expected to complete in November.

Chairman Chris Holmes said: "The performance of the group in the first half has been strong, significantly helped by the trading conditions created by global weather patterns. We anticipate that the benefits to the group of the adverse weather will continue in quarter three.

"The board views the remainder of the year favourably, with the expectation that the result for the financial year ending 31 August 2013 will be ahead of our previous expectations

[wjccghcc] 16/4/2013 07:54

H1 is seasonally much stronger but even so v.good results.

[valhamos] 16/4/2013 07:40

Last year eps 98.2p for the six months reported eps is 80.8p! The existing forecast for the year is 105.3p which looks like it will be smashed out of the park.

[broadwood] 16/4/2013 07:21

An interim dividend of 7.75 pence per share (2012: 7.25 pence per share), an increase of 6.9%, will be paid on 17 May 2013 to shareholders on the register on 26 April 2013. The ex-dividend date will be 24 April 2013.

Outlook

The performance of the Group in the first half has been strong, significantly helped by the trading conditions created by global weather patterns. We anticipate that the benefits to the Group of the adverse weather will continue in quarter three.

The farming communities will, in both the UK and USA, continue to suffer as a result of the volatile weather conditions seen in 2012 and so far in 2013. Carr's is committed to continue the investment in feed manufacturing technology and animal nutrition research projects to explore ways of improving farmers' profitability.

Carr's is well placed to benefit from the changes taking place in the UK flour market and the new mill at Kirkcaldy will significantly increase operational efficiencies as well as maintain the high quality of flour products offered to customers. An improvement in profitability from the Food division should begin to come through in the next financial year.

Engineering has major contracts due to complete in the second half of the current year and during the next financial year, and the order books in the division continue to build. The maintenance of activity and profitability at the high level achieved in 2012 provides a good platform for growth.

The Board will maintain its strategy to consider suitable acquisition opportunities across all operations as well as build organic growth.

The Board views the remainder of the year favourably, with the expectation that the result for the financial year ending 31 August 2013 will be ahead of our previous expectations

[broadwood] 16/4/2013 07:05

Great results. Bad weather is a bonus. Should fly today.



The Board views the remainder of the year favourably, with the expectation that the result for the financial year ending 31 August 2013 will be ahead of our previous expectations."

[pabster] 02/4/2013 15:49

Time for a little rally into results?

[broadwood] 11/2/2013 10:59

As I said, lumpy.

[broadwood] 07/2/2013 13:58

Its a funny old stock but a rewarding one. When the price moves it does so in lumps. Up nicely at the moment but you never know with this one. Hope it holds until the close.

[shauney2] 31/1/2013 15:59

Its on the radar now.
Given as a buy in Shares Magazine.

[citymohawk] 30/1/2013 17:22

Likewise Al, that was the purpose of that thread - to find like minded individuals. Hope to share many more ideas in the future.

For the other readers on this thread, you obviously know good stocks so please do contribute to the VALU thread for similarly run companies offering good value.

[al101uk] 30/1/2013 14:01

I picked up your comments on the VALU thread not long after I posted, taken a position anyway. I think I missed a good chunk of the value trade , but there should be some left. I do think they are a solidly run company that should do well over time, so one to buy and leave.

Nice to see we think along such similar lines, I'd forgotten you posted on this until it popped up on my filter and I saw your post here.

[citymohawk] 30/1/2013 13:48

al101UK

Sorry I missed your post here. I've been in a few times and held. Last purchased at around 820. Currently away on business without all my analysis so will try get you something for weekend if poss. I remember having a £15 (ish) target on this. Very nice company. I believe the institutions may try and bring the price down a little before it starts hitting the big fund manager radars.

[broadwood] 29/1/2013 14:27

This is starting to make punters some nice money.

Its off the radar for the bigger boys but PI's can benefit.

[darlocst] 28/1/2013 20:10

"Afgritech LLC will expand its operations by adding a 4,000-square-foot loading garage at its Watertown plant by the end of the summer, enabling it to increase its customer base across the Northeast..."

[darlocst] 28/1/2013 20:09

"Afgritech LLC will expand its operations by adding a 4,000-square-foot loading garage at its Watertown plant by the end of the summer, enabling it to increase its customer base across the Northeast..."

[al101uk] 22/1/2013 13:12

citymohawk,

Nice to see you, this one just hit my radar, so doing my due diligence :-)

Had a good run, but, by no means looks over priced at the mo.

Any pointers?

[raven lr] 18/1/2013 21:58

Market cap close to £100m starts to appeal to institutions. Areva sign up potentilay a massive plus factor. Ag is turning, feedblocks are good, have tried others but always come back. Now in the All Share index and there is more! So will it hold level? would be very surprised if it did not.