Devro Share Discussion Threads

[idioterna] 03/9/2003 08:56

Operating profit rose 11 pct to 10.1 mln stg and earnings per share rose 37
pct to 3.7 pence from 2.7 pence.

With the eps at 3.7 for the half year I'd be expecting 7.4 (minimum) for the full year. That's substantially above the consensus forecast of 6.88. Indeed, even the highest individual forecast was for 7.2 (Oriel). I'd be suprised if we don't achieve a share price of 92p+ this year.

[idioterna] 03/9/2003 08:27

re., post 1327:


jelfsie - 10 Apr'03 - 10:15 - 1125 of 1328


This could drop back to 55p before further rally. If 55p breaks in volume then cut positions. I'll be buying more between 55 - 57p (if it gets there).

[idioterna] 03/9/2003 08:07

Nice Day! Solid set of interims adds confidence, makes it two positive reports to the market inside of six months now. No nastíes. Outlook good. Debt down. Pork casings starting to make an impression. Saving the dividend rise for next year?

[jelfsie] 03/9/2003 08:06

I start disliking people who talk rubbish (I refer to post 1321). Im off to find another thread. Bye.

[cockneyrebel] 03/9/2003 07:19

3.7p eps - look set to do around 8p for the year - PE 9.5, seems cheap to me :-)

CR

[ockham] 03/9/2003 07:17

Hi Besbury.

Progress looks solid rather than spectacular. I think the shares are still good value at 75p. I was encourage to see that sales of the new piggy casing are starting to take off...

[besbury] 03/9/2003 07:11

Good morning all.

Looks ok to me, everything on the up, except debt which is down!

Pat Barrett says he is delighted, so who am I to disagree(:-)

[idioterna] 02/9/2003 21:01

Excellent round today, and looking forward to a nice set of interims tomorrow morning.

I see that you're as optimistic as ever Jelfsie (3 months ago you advocated selling at 63p because it'd soon be sub 55p).

[jelfsie] 02/9/2003 15:18

Gamblers buying prior to the results more like.

[cockneyrebel] 02/9/2003 10:05

Recent large bus in DVO may be another buyer trying to flush out Kerry perhaps and force their hand.

Either way the bids secondary for me - these look cheap on fundamentals alone.

CR

[besbury] 02/9/2003 09:48

Don't forget to un-cross your fingers when putting, otherwise you will miss the three footers!(:-;)

[idioterna] 02/9/2003 09:19

Good morning all,
Pleased to see level 2 a lot firmer with plenty of early buyers. CR's mention of Kerry Group caused me to have a look and it is indeed a very acquisitive company. But surely they'd have bid for Devro earlier this year if they were looking for an acquisition. Devro might well make a good fit but Mr. Magnier is not listed as a major share holder.

I'm off out for a round of golf on the cliff-side course at Mölle. The weather's glorious over here and hardly a breeze about - not many more like this before the autumn.

Fingers crossed for tomorrow.

[besbury] 02/9/2003 08:22

Looking good this morning. Solid buying stream with bid up 1p.

[cockneyrebel] 02/9/2003 08:10

Kerry results today - says they have a big aquisition pipeline.

CR

[idioterna] 02/9/2003 00:53

Looks like a couple of nice 100k buys at the mid-price. Glad to see you're holding onto these Besbury and CR (nice rise on CKN also today).

Sorry, I got a bit confused between Czeck and Hungary, but currency performance this year has been very similar. Still hoping for a bit of benefit to DVO this time around.

[cockneyrebel] 01/9/2003 10:56

firming up on level II, think there might be some buying ahead of the results on Weds if the price ticks up.

CR

[cockneyrebel] 31/8/2003 11:37

I wouldn't take any numbers from the S.T as gospel - they often guess these by looking at the full year broker estimates. However 3.6p eps at the interim stage suggests 7.5p or more for the full year I would expects - that's 10% ahead of market expectations and a PE of 10, pretty cheap imo and would represent 33% eps growth over last year. That would also be a 4.4% yield for the year at least.

What would a bid be lodged at if there was one? my bet is that it would be at least 50% higher than the current level, probably more like double it and more, especially if there was a bidding war beteen the parties named above. Certainly seems like there little or no potential bid premium in the price.

Roll on Wednesday

CR

[besbury] 31/8/2003 10:08

Hopefully, the pre-tax estimates are pitched on the low end and turn out to be nearer £9m.

We must also remember that the redemption of the Prefs last year should be of no small benefit to the bottom line. The divi, I believe for those was over £1m.

Regards

[mickinvest] 31/8/2003 09:02

I was expecting a bit higher Besbury.

One off payment last year of £1.8m for redundancy costs was expected to make savings of the same amount and Czech currency which took £2m of results has weakened considerably although they do hedge quite a bit.

Along with the brilliant weather this year, surely a little bit more than 6% up?

Mick

[cockneyrebel] 30/8/2003 18:42

I'm still holding for the results.

I think the selling was traders that have been in for the very steady rise but selling before the results to be 'safe'. Might be that they get disappointed - we still don't know who the big frequent buyer has been over the past months, often large buys at a premium.

Bid news would be a real bonus and I think the IPO price could be seen again much sooner than expected.

Myself I am looking for solid results and a decent divi rise - a pretty unique company on an undemanding PE ration imo.

CR

[idioterna] 29/8/2003 19:34

Evening all - just back from a very wet round of golf. Rather suprised to see so little interest in Devro. The company has definitely turned the corner and, imho, has a couple of nice bits of news up its sleeve. For instance, one of last years dissappointments was the strenght of the hungarian florin (which has been extremely weak this year). That could potentially tack another 15% onto eps. I'm very confident that the company will not only meet eps expectations but also further reduce debt and consider sweetening the dividend yet further next year.

Let's not forget why the share price has been languishing for the past 2 years. Foot and mouth and BSE in the UK are not attributable to the management and are pretty rare occurences. This is one company who's share price has a lot further to climb and I'm expecting to see the ipo price again next year.