Carrs Mill. Share Discussion Threads

[broadwood] 21/1/2014 16:37

Another nice performance today.

[maxy26] 21/1/2014 10:11

I see Tom Charlton who owns a slug of CRM worth north of 10 million recently acquired a 26% holding in FDBK a tiny aim cash shell. Whats that about?

[9degrees] 20/1/2014 16:55

nonsensical ADVFN recording I think. It makes no sense up 65p one minute then -5p the next

[shauney2] 20/1/2014 16:36

Not sure what caused the offer to spike up to nearly 20 quid briefly.

[broadwood] 15/1/2014 18:53

Obviously Paul Scott, whoever he is, doesn't understand Carrs.

Great price action today - on reconsideration of the results and the plug from Questor. Thanks Shauney.

[shauney2] 15/1/2014 09:23

From todays Questor.

They say a good long term buy.It certainly has been.

[mctmct] 14/1/2014 13:05

Paul Scott today

Checking the archive, I don't seem to have mentioned Carrs Milling Industries (LON:CRM) before - probably because it looks a fairly boring, low margin business with various activities around agriculture, food, and engineering. The shares have done well in the last year though, being up about 60%. So boring can be lucrative.



It has issued an in line with expectations trading update this morning for the 19 weeks to 11 Jan 2014, being most of their H1 period (it's a 31 August year end). It reports net debt has risen to £28.2m at 30 Nov 2013 - it's not clear why they are reporting up to date sales, but the net debt position from seven weeks ago - seems odd.

The dividend yield is an unexciting 2.0% (forecast), and the forward PER is 12.7, so it looks priced about right in my opinion, based on the most cursory of glances at the figures. Although it's worth noting that the dividend is about four times covered, so if I were a shareholder I'd be pushing for a more generous dividend. Surely they could double that to give a 4% yield, and still be twice covered? That's what mature businesses should do - pay out their earnings to shareholders, as demonstrated today by Moss Bros.

We're in a bull market, so I can't imagine investors generally will get very excited about this share, which doesn't seem to have any attractive growth planned, although management do say today that they are exploring growth opportunities, so maybe they'll come up with something?

[darlocst] 14/1/2014 10:12

As a long term shareholder of CRM I very much see this financial year as very much one of consolidation for Carrs whilst they complete their various capital investments for future growth which I expect to see leading to earnings upgrades for 2015 onwards.

[pyemckay] 14/1/2014 09:59

i sold at 17£ last year, i am tempted at these prices now. fair statement with growth in markets in general bar the uk.

[sheyac] 14/1/2014 09:43

All divisions in line with expectations, one ahead of expectations - management seeking to grow into new markets. Why on earth is the price dropping? Am I missing something?

[broadwood] 14/1/2014 07:10

Happy enough with those results although we could do with a cold snap.

[9degrees] 09/1/2014 17:23

Here we go again
price goes up 20 and the sell spread widens to -40 and the buy in price is as the price

[9degrees] 06/1/2014 14:08

strange share this
The price goes up and the bid/offer seems top go down !

[cambium] 27/12/2013 12:32

She's gonna blow cap'n

[broadwood] 20/12/2013 15:11

Flirting with those all time highs.

[dewtrader] 07/12/2013 19:33

Heard on the grapevine that Nigella has been putting a lot of white flour in her brown bread

[idmon] 21/11/2013 18:41

Edison just initiated coverage with a view it is undervalued compared to its peers


hxxp://www.edisoninvestmentresearch.com/research/company/carrs-milling-industries

idmon

[pjhutchy] 20/11/2013 20:03

The papers say we could have a cold snap with ice and snow. If it is freezing this winter at least shareholders of carrs milling will have some consolation with share price rises as we know this sort of weather boosts profits due to increased demand for animal feeds as the animals can't dig for worms and bugs because of the solid ground. People will buy in on this weather if it happens its now common knowledge that it will increase animal feed sales.

[shauney2] 18/11/2013 11:56

Investec Reiterates its buy and increases target from 1670 to 1900p

[pjhutchy] 11/11/2013 18:24

Solid results in my opinion and no reason to panic

[broadwood] 11/11/2013 14:23

Agriculture and engineering firm Carr's Milling revealed a record profit for the year, following a strong operational performance and as adverse weather conditions in the UK and US boosted demand for animal feed products.

The Carlisle-based firm, which manufactures flour, provides remote handling equipment, farm machinery and feed blocks for livestock, said pre-tax profit surged 21.5% to £15.9m in the year ended August 31st 2013. Revenue gained 15.8% to £468.1m.

Basic earnings per share for the period climbed 31.1% to 128.7p and earnings before interest, taxes, depreciation, and amortisation (EBITDA) increased 20.3% to £22.2m.

Among its divisions Agriculture revenue was up 15.9% to £340.4m, Food revenue rose 17.0% to £94.2m while Engineering revenue climbed 12.4% to £33.4m.

Chairman Chris Holmes said: "With a new Chief Executive and Group Finance Director this has been a year of transition for Carr's, a transition which has been effected smoothly and successfully. The group has achieved a record profit for the year, building on last year's success.

"This success can be attributed to strong operational performance, on-going pursuit of our strategic aims, benefits from the investments in assets, research and innovation, as well as assistance from adverse weather conditions, particularly in the UK and US."

Carr's said the current financial year has got off to a strong start.

The group recorded net debt of £22.1m at the period end compared to £2.5m debt in 2012 and is proposing a 13.8% increase in the final dividend to 16.5p per share.

[idect] 11/11/2013 13:47

The results look good but I'm not sure about the line stating that 'net cash generated from operating activities was GBP 4.0 million (2012: GBP 8.3 million). Note 5 in the results entitled 'Cash generated from operations' shows an increase in both inventories & receivables of approximately £2m and £5m respectively. I want to stress that I am a shareholder but I am also fairly new to investing and still have much to learn. I just wonder what those amongst you with more knowledge than I have to say about the deteriorating cash generation. This is not a de-ramp but a genuine question.