Finsbury Food Share Discussion Threads

[spaceparallax] 12/1/2012 09:38

a spark of life this morning

[spaceparallax] 10/1/2012 09:57

I'd forgotten about the eggs

[jpjp100] 10/1/2012 08:53

Last year's pre close statement (not long after 'the egg incident') was on 21 Jan....

[spaceparallax] 04/1/2012 12:49

Indeed it does. I hold several really good performing smaller companies whose sp's are pinned down for no other reason than general gloomy sentiment. No doubt time will see things come right.

[boffster] 04/1/2012 11:02

SP, the market seems almost perverse at the moment. We recently had news of revenues up 17% which didn't budge the share price hardly at all. PFD announce a decline in revenues of less than that, and their share price falls to 1/5th of what it was!

[spaceparallax] 04/1/2012 10:28

Ale, agree totally but it's symptomatic of the current very cautious Mkt that requires glaringly obvious info before it reacts much

[aleman] 03/1/2012 17:00

Very positive looking chart. 200-day average at 3-year high with shorter averages above it. Looks set to jump to 40p. I'm amazed their isn't more interest shown in this one. I've mentioned its cheap rating, decent forecasts, and cracking chart elsewhere yet nobody seems interested. It's a funny hole is ADVFN.

[spaceparallax] 03/1/2012 16:40

A lot of big beasts on that board.

[boffster] 03/1/2012 16:39

I would of course have to resign from my current position.

[spaceparallax] 03/1/2012 16:35

that would be good

[boffster] 03/1/2012 16:27

I just want to get enough to get elected to the board. Can I count on your vote of confidence Aleman? :o)

[aleman] 03/1/2012 16:11

I was hoping to get a few more under 30p later this month. You've got enough , Boffster! ;-)

[spaceparallax] 03/1/2012 15:56

looking promising

[spaceparallax] 03/1/2012 11:40

a little life in the share price this morning

[spaceparallax] 29/12/2011 09:43

it'll be interesting to see if we get an upbeat post Xmas RNS

[markt] 26/12/2011 15:09

JPJP
"Looking at the profile of the current FIF Directors, the one to approach about anything remotely associated with governance would surely be Edward Beale 'He is a member of the QCA's Accounting Standards and Corporate Governance Committees' according to his profile and should, therefore, be expected to know the rules and best practices of such situations very well."

BTW
I don't agree with the E.Beale approach to accounts....which could be argued to be a rubbery interpretation or use of the regulations.

At LFI (where Mr Beale is the CEO if the subsidiary company that produces the LFI accounts)


- the Company Act requirement to disclose payments to connected parties has not been followed in the LFI accounts (ref. payments made to son of main director of LFI)
- the Company Act requirement to disclose payments to connected parties has not been followed in the LFI accounts for the voting of a share option scheme with a son as 1 of the 2 main beneficiaries (shareholders were intentionally not informed imho)
- the accounts of LFI and its main associate company and its subsidiary could be argued to be intentionally opaque. The CEO of the company that produces the accounts is Mr Beale.
- the costs breakdown and expenses of running LFI and its main associate company and its subsidiary are not revealed to shareholders. And the directors refuse to provide a cost breakdown. Noting that there are many related party situations such as payments to at least 1 son, use of LFI offices and staff by other companies operated by main owner of LFI and other related parties. In such as situation I think that the Company Act would expect transparency. Secrecy is what is provided.
- the options held by Mr Beale at LFI/subsidiary/associate companies are kept secret.....while the accounts he produces for FIF detail all the info for options held by directors at subsidiaries.
-The openess of the accounts that LFI produces accounts for other companies (FIF, MWB, CRE) seems to be very different from the secrecy that LFI uses in producing its own accounts and those of subsidiaries and associates. In my view that breaks the obligation for integrity and openess in managing companies whose shares are publicly traded.
- Daily Telegraph ...ref. MWB where LFI has a director on the board and I think backed MWB into a shell...and LFI subsidiary I think does the MWB accounts
"Accusations fly as investors round on MWB board
Shareholders in hotel and property company MWB Group heard accusations of market manipulation, poor accounting and a failure to grasp fundamental details of the business at its annual general meeting".

- CRE pays the money for the director's pay of Mr D.Marshall to subsidiary of LFI (city group)
BUT
for FIF and MWB I understand that the director's pay relating to D.Marshall is sent to "an overseas company".
The name of the company is secret and no listed company will reveal the name. Nor LFI.
Does that comply with the obligation for integrity and openess ?
(imho, all the pay for D.Marshall that results from LFI (or associates) investing in a company should be paid to LFI ...since the pay results from the LFI investment....and then LFI can pay Mr D.Marshall...)

- the payments made to said unamed "overseas company" are not stated individually and clearly in the LFI accounts. In my view that breaks the obligation for openess and integrity.
- approx. 100% of the income to LFI appears to go to Mr D.Marshall and one son L.Marshall.(approx. 150k from dividends from Gen. Portfolio)....while this is not visible in most accounts since the connected party payments to the son are not disclosed.

For some items it may be that the Company Act 2006 allows delayed implimentation of certain requirements. Perhaps that is the excuse. But if repeatedly using loopholes then it does not look good for integrity or openess imho.
------

let me repeat
- the options held by Mr Beale at LFI/subsidiary/associate companies are kept secret.....while the accounts he produces for FIF detail all the info for options held by directors at subsidiaries.

and Mr Beale owns 0 shares in the listed company he is a director of....while he has pushed for the new directors at SWL to buy shares in SWL to show their committment to SWL. But Mr Beale makes no similar commitment himself to WSE by buying even 1 WSE share !!.
Hipocrisy.....integrity ?
Hence, any browny/integrity points for Mr E.B. being on a QCA committee are wiped out imho.
----


...I could go on....(see LFI msg board if interested)

BTW ...complaints have been submitted to the system

(to a degree he perhaps does not have much choice.....since his pay all comes from companies controlled by the Marshall family....if he is directed to provide level 3 of transparency in the accounts he doesn't have much choice but to comply imo.....and/or perhaps as CEO he perhaps does not do the LFI accounts himself or sign them off)

[boffster] 21/12/2011 15:05

They are almost works of art aren't they.
I'm still working my way through the cakes I nabbed from the AGM. All very nice

[jpjp100] 21/12/2011 09:27

Had another one of the Disney Cars cakes from Asda (£12) for a kids' party

Wow! I wish we had cakes like that when I was a kid

If you are in Asda (or anywhere else that sells them), have a look

And buy one!

[markt] 16/12/2011 17:10

ah...thanks for that info....

=====

The markt picks for 2012.
Long. Same as 2011 !! (yawn !) except with KFX replaced by ILX. (I'm sure people have a copy from 2011 !)
Shorts. Carpetright, KESA, BAE, Danone, and anything with much hope included in the share price rather than earnings, low debt and good tangible assetts !

(risk of impact on UK share prices from global economic slow down and banking system and economic idiots in charge of some countries is a risk to any share price....but everyone is fully aware of that I think...)
====

Eurozone.....could easily fall apart.....the rheotoric and empty words will be proven imho to be....rheotoric and empty words....
(the European countries are all self interested.....in taking money from Europe, for free....and have NO interest in Europe imho....proof, Spain said no to entry of Rumania, until Spain was bribed with 7Bn to change its vote from no to yes. No European country really wants to lose money to Europe, only to receive money. That is an unsound basis for any 'team'....and hence Europe as it is now will eventually fall apart imho....the European economic problems will speed up the disenchantment with 'Europe' and speed up the process imho). Greece, Ireland, Spain, Portugal, Italy.....are all in severe problems, they will not want (or not be able) to contribute financially to the ideals of Europe, such as increasing the living standards in Rumania and Bulgaria. And Germany will not be willing to shoulder all the costs of paying for the European budget. And countries with unemployment will not want to allow workers from Rumania and Bulgaria to take jobs in their countries. I also predict that in 2012 that Snr Borroso will depart his job as major boss at 'Europe'....as Europe tires of his smile and empty words).

[jpjp100] 16/12/2011 16:20

Yes, Golden Wonder.

A very good job was done by the Exec team at Golden Wonder in my view (of which Duffy and Boyd were a part of).

Partly you can judge the success of the team by the fact that the same VC firm 'used' pretty much the same team in a subsequent deal (WT Foods). Had the job done at GW not been acceptable, I would have expected the VC to exclude them from other deals.

[markt] 16/12/2011 16:05

Hi
J.Duffy was operations director at Golden Wonder...2000...according to the 2011 annual rpt.
Golden Wonder...crisps , no ?
my mistake if I wrote Walker crisps...


updated
'so are you saying that the current FIF CEO did a good job at Golden Wonder Crisps ?
can I ask how you know ?!'

[bonio10000] 16/12/2011 08:14

I would be amazed if they did not hedge.

And even if they are locked in at higher prices, those contracts will eventually lapse.

[jpjp100] 16/12/2011 08:02

I am wondering how far in advance FIF (and others) buy commodities?

Are they benefiting from the recent price falls or is all their volume covered by older contracts at higher prices?

I would be surprised if FIF had particularly sophisticated commodities purchasing strategy / team