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Devro Share Discussion Threads
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|Lol - we only had an inline trading update 2days ago. You sound like a burnt short|
|Can u repeat that please preferably in English|
|porofit warning soon|
|Biggest investor continues to add
Pi s should probably do the same|
|Big holder Neptune increases stake
Presumably after encouraging chat with management|
I was really pleased with the Results yesterday - or, more accurately, what they are doing to address the problems. In fact, I bought a load more Shares and I have written a pretty lengthy bit about my view of things on the 'Trades' page on the website. Hope it helps,
|We now expect that that 2017 volumes will be c10% lower than was
That on top of the 7% decline in volumes in 2016
Easy to see a second profit warning|
|pension deficit is a function of low interest rates
we have been here before
|Worst behind us. ROLL ON £2.20, by third quarter.|
|Awful for shorters. Good for holders. Divi held.|
|Results worrying particularly when you look at pension liabilities.
They distort everything as in one year they have increased by £40 million.|
|Yeah yeah when you were 5years old right?|
|Wouldnt want to hold this on the next warning thats for sure, remember trading these at 90p|
|But if the update is good, it ll shoot up before you get in?
Perhaps better to just buy.|
|Banking covenants a worry here. Will wait for next trading update before possibly buying.|
|Could shoot up to 2.50p when thingmajig bids for it. Its too cheap. Only way is up baby.|
|I want the divi. For christsake.|
|FT says that the group is butting up against its banking covenants and will have to cut its dividend.
Slash the divi baby!
Slash the divi baby!|
|group is butting up against its banking covenants and will have to cut its dividend.
Slash the divi baby!|
|Days before, shares in Devro, the Scottish maker of sausage skins, plunged 16 per cent after it warned that its expansion plans were not going well.
It seems a new manufacturing plant can’t provide casings robust enough to withstand the way its South American customers boil sausages before cooking. Devro has also lost ground to rivals in other regions and volumes at another new factory in China have not ramped up as quickly as hoped.
Analysts slashed pre-tax forecasts for 2017 by nearly a fifth and some worry that the group is butting up against its banking covenants and will have to cut its dividend.
It demonstrates the perils of expansion for small businesses operating in highly-competitive but niche markets.
Devro turns animal hides into tubes of edible collagen to encase every type of banger, from cabanossi to knackwurst. It has stretched itself across the world, with six factories in Australia, the US and Europe to expand and build state of the art capacity to fend off rivals. It spent £100m on new facilities in the US and China.
Analyst Charles Pick at Numis reckons the company’s total capital expenditure on expansion, modernising and maintaining its plants since 2010 is close to £275m. Yet in the past five years pre-tax profits have more than halved and net debt has risen from 0.4 times earnings before interest, tax, depreciation and amortisation to 2.9 times.
Devro’s shares have fallen 44 per cent in three years valuing the business at about £300m. Analysts don’t expect much growth in earnings for another two years. What’s to like?
Wouldnty want to hold on the next statement
This could crash to 120p|
|Back to 150....|
|Wow..... Just dont look.|