Finsbury Food Investors - FIF

Finsbury Food Investors - FIF

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Stock Name Stock Symbol Market Stock Type
Finsbury Food Group Plc FIF London Ordinary Share
  Price Change Price Change % Stock Price Last Trade
1.00 1.4% 72.50 15:05:30
Open Price Low Price High Price Close Price Previous Close
71.50 71.50 73.00 72.50 71.50
more quote information »
Industry Sector
FOOD PRODUCERS

Top Investor Posts

DateSubject
18/11/2021
13:15
jimmywilson612: I'm an investor here, but always like to hear the bear case too so thanks for posting guys. On the balance sheet - Net assets currently stand at £138M vs a Market Cap of £130M. The announced earlier on in the year a trading ahead statement, with profit for the year being no less than £15M. Yes, lots of cost pressures apply but surely that's baked in ( ;) ) to the price?
28/8/2020
18:46
sev22: According to Finsbury's Investor Relations page on their web-site the preliminary results are going to be announced on Monday the 21st September.
19/8/2020
12:10
sev22: Finsbury's preliminary results were released on the 16th of September last year so only four weeks away. Below is a link to an article from Investors Chronicle dated 21st of April which reinforces how cheap their shares remain. https://www.investorschronicle.co.uk/stock-screens/2020/04/21/10-cheap-small-caps/
01/6/2020
13:06
sphere25: Another delayed trade reported: 575k @ 60.5p from Friday. Getting a much clearer picture now. Add in all the above exchanges, a couple of 250k blocks, the way the market makers have now materially widened the spread, the price looking much firmer and threatening a significant breakout, well it all points to the seller being cleared or very close. They brought the spread in over the past two months encouraging investors to buy to help clear any sellers, all change now.
15/7/2019
11:43
spaceparallax: A very impressive TS that should cement investor confidence and a return to a more sensible share price
17/9/2018
10:27
davebowler: Cenkos; Recipe for Growth Finsbury has announced its annual results for FY18A, delivering 2.4% YoY growth in revenue from continuing operations to £290.2m. Management has delivered a stellar performance by controlling costs and maintaining margins in a challenging market environment. Investment into innovation and facilities, coupled with strategic acquisitions in a consolidating industry, provides investors with a platform for continued growth. We release our FY20E forecasts, inferring c6% YoY growth in adjusted operating profits, with Finsbury trading on a 12-month blended-forward EV/adj-EBITDA of c6.5x. We reiterate our Buy recommendation. n Financial highlights. Finsbury delivered 2.4% YoY growth in revenue from continuing operations to £290.2m in a challenging market environment. The well-explained cost pressures facing the industry (higher commodity costs, higher energy costs, higher labour costs and a weaker Sterling) resulted in gross margins contracting 80bps YoY to 30.3% on a combined group basis. Adjusted EBITDA increased 2.7% YoY to £25.6m, with management delivering significant operational efficiencies to increase the combined adjusted EBITDA margin by 50bps YoY to 8.4%. The adjusted fully-diluted attributable EPS grew 4% YoY to 9.8p, and the total DPS increased 10% YoY to 3.3p. Net debt contracted -10% YoY to £15.6m (0.6x net debt/adjusted EBITDA). We provide a summary table on the next page comparing the performance with our forecasts. n Operational highlights. FY18A witnessed the successful launching of the company-owned Wiso free-from brand in Europe, the Mary Berry licence in the UK, doubling sales in Artisan bread and Foodservice growth of 5.7%. n Innovation. Management developed the company’s “Recipe for Growth” business model which includes investment into technology, automation and fast growing niche product categories. The objective of the business model is to provide a platform for future growth by building scale and maximising operational efficiencies. n Investment. Management has invested c£50.6m in capex over the past 5 years. By our calculations, Finsbury has generated c£30m of cumulative free cash flow over the same period, inferring a c60% cash return on investment. This demonstrates management’s ability to allocate capital on behalf of shareholders, coupled with the commercial prudence to close underperforming assets (eg Grain D’Or). The post-FY18A acquisition of Ultrapharm, enhances Finsbury’s niche Free-From product category, illustrating the intent to invest in fast growing products. Ultrapharm further enhances Finsbury presence in Europe and adds regional manufacturing abilities (see report dated 3 September 2018). Management further guides to continual exploration of acquisition targets which offer new products, customer/channel diversification and to capitalise on market consolidation. n Brexit. We understand that management has conducted, and continuing to monitor, a thorough analysis of the uncertain outcomes that Brexit presents. Potential impacts include higher commodity prices for items sourced from Europe, tariffs, associated administrations costs, access and affordability of labour, and exchange rate volatility. Even though Finsbury conducts most its business in the UK, these factors still present uncertain risks. n Forecasts. Off the back of the FY18A we amend some of our assumptions for FY19E. A summary table is provided below. From a P&L perspective, we assume a lower FY19E GM%, which is offset by a lower expected D&A charge. The net effect is that our FY19E adjusted EPS remains unchanged. Regarding the FY19E CFS, we amend our working capital and capex requirement owing cash flow timing at the end of June 2019 and guided higher investment. We release our forecasts for FY20E, inferring c6% YoY in adjusted operating profit. n Investment case. Management’s strategy is expected to provide investors with further growth attributable to increased scale and operational efficiencies. The stellar performance in FY18A of maintaining margins, against an extraordinary challenging market environment, should comfort investors and provide optimism for continued progress. Finsbury trades on a 12-month blended-forward EV/adj-EBITDA of c6.5x, which we believe offers investors value for this growing specialist business. Buy.
19/3/2018
13:34
spaceparallax: Great results, FIF continue to move forward solidly and sensibly - I particularly like the reduction in debt by 25%(relative EBITDA) from the previous year. Such progress positions the Company well to make strategic investment organically or acquisitively that will really benefit immediate and future performance. Also, a handsome divi that should attract more longer term investors rather than short-termist speculators. All compelling reasons for the share price to advance towards the 130s.
22/6/2017
19:05
hutch_pod: Investor Chronicle tip today..
07/2/2016
07:45
hutch_pod: htTp://www.trustnet.com/News/649563/four-early-bird-aim-stocks-for-your-2016-isa/1/1/ First up we have food producer Finsbury Food which makes a range of baked goods for supermarkets, wholesalers, caterers and restaurants. “This diversity reduces the risk level and gives the company exposure to potential growth in a number of key areas,” Spooner said. “The group’s strong performance of late has been mainly credited to its acquisition of bakery group Fletchers, which came through earlier than expected. Investors should also note that the prospective dividend yield of 2.5 per cent is good for the sector and is well covered.” The stock has returned 74.62 per cent over the past year and Spooner says its recent acquisitions could see it perform strongly again, but adds it is for investors who are willing to accept a higher level of risk and are seeking growth. “Current trading is solid with good growth patterns continuing into the new financial year, particularly so in terms of organic sales. The café and convenience food service sectors have been growing steadily in recent years and Finsbury Food is a beneficiary of this growth,” he added.
22/1/2016
10:54
hutch_pod: Spotted this on RMMC (R&M MicroCap trust) RNS update. I've been wondering whether to add.. NAHL Group and Finsbury Food Group are both excellent examples of a full cycle of ownership where returns have already been locked in as the positions were exited. Finsbury Food enjoyed robust demand for its cakes and breads leading to strong profit growth which supported an attractive c4.5% dividend yield at purchase. As the shares moved to reflect good progress, there was a sharp re-rating in the valuation as the market cap burst through the £100m mark, which seemingly is a threshold which drives increased investor interest in stocks. Finishing the period 47% higher than the purchase price, shares had reached a fairer valuation with a c3% dividend yield. In addition, the firm has a large workforce where it may be challenging to pass through National Living Wage related wage inflation to supermarkets. As a result a full exit was warranted into the market and almost complete by the end of the period under review, hence the 4.2% cash balance at period end.
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