Finsbury Food Share Discussion Threads

[smithie6] 23/9/2013 09:37

EPS looks amazingly close to what someone (moi) calculated X months ago !!

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Congrats. that FIFs extremely patient shareholders are going to get a divi...

you deserve it for waiting X years !

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shareholders that paid 90p for the new shares in Lightbody acquisition....probably still not very happy though !!

[topvest] 23/9/2013 09:33

A healthy pull back today as nothing new in the results. Still looks well set for the future though with a 6.4p EPS forecast in the current year. I would have liked a more positive outlook and dividend comment, but they are playing it canny imo and trying not to over promise on forward outlook. This recovery has been a long time coming and they seem to have a sensible plan. It's probably worth 90-100p if it was acquired in my view, so happy with the momentum in the business for now.

[battlebus2] 23/9/2013 08:44

Woody i'm hoping 60p will never feature again :))

[woodcutter] 23/9/2013 08:40

wouldn't disagree with that at all. If the chart moves against me though i may move to sell the remainder it depends how it looks after the results have been analysed and the share price settles down this week

On the other hand if we see it fall below 60p i'll consider adding. I guess i'm a bit in two minds at present hence the sales this morning.

Woody

[battlebus2] 23/9/2013 08:33

Yep it's been a great run so probably a sensible decision, it's looking like M&A
is the catalyst now.

[woodcutter] 23/9/2013 08:29

I took some profit this morning b2, i think there's still some headroom but not like the moves we saw from 22pish so i decided to reduce my holding a bit. It's always been a bit top heavy in my portfolio so it's now at a more sensible level.

I sold in a few tranches, though they're not showing on the trades data.

The continued expansion etc does show some ambition and the management team are sound so i think we're still in good hands.

Woody

[battlebus2] 23/9/2013 08:09

Thanks Woody, fingers still asleep :)) No doubt some profit taking on results but the longer view is still good imv.

[woodcutter] 23/9/2013 08:06

post removed not necessary anymore

[woodcutter] 23/9/2013 07:49

There pretty reasonable, my only two comments after a headline review would be the share options are clearly significant but we new that and i guess they should be rewarded for turning the business around and the reduction in debt should pave the way for lower interest payments which will compensate a little for the dilution of the share options.

Need to spend a little more time looking through the detail.

Woody

[battlebus2] 23/9/2013 07:34

Results look good to me.


Finsbury Food Group plc

Preliminary results

Finsbury Food Group plc (AIM: FIF), a leading manufacturer of cake, bread and bakery goods, is pleased to announce its preliminary results for the 52 weeks ended 29 June 2013.

Highlights

-- Group revenue from continuing operations GBP176.6 million (2012 GBP178.9 million)

-- Adjusted* profit before tax up 19% to GBP5.5 million (2012: GBP4.6 million)

-- Adjusted* diluted EPS 5.9p (2012: 5.0p)

-- Total net debt significantly reduced by 78% to GBP7.4 million (2012: GBP33.9 million)

-- Successful equity placing in November 2012 raised GBP3.8 million

-- Re-instatement of dividend with a proposed total dividend of 0.75 pence per share

Operational Highlights

-- Sale of Free From business for approximately GBP21 million

-- Transformed balance sheet enables increased investment and M&A opportunities

-- Expansion of bread manufacturing facilities at Nicholas & Harris

-- Continued investment and growth in brands and renewal of licenses

-- Bakery Awards supplier of the year 2013

* Refer to trading results section within the Business Review for further details on the adjusted profits.

Commenting on the results, John Duffy, Chief Executive of Finsbury Food Group plc, said:

"These results signal the Group's shift from a transitionary period, to a new period of financial stability. Whilst a strategic disposal has driven this change, the Company is trading maturely, paying down debt and generating cash.

Growth remains our priority. Driving organic growth is one of our key focus areas whilst evaluating bolt-on acquisition opportunities. We will ensure that we maintain our operational excellence and product innovation as this will continue to underpin our future growth.

Following the reinstatement of the dividend, we are also pleased to announce the proposed total dividend at 0.75p. The Group now looks forward to directing this new stage of development and implementing our growth with the ultimate goal of creating value for our shareholders."

[spaceparallax] 20/9/2013 12:56

Not long until we find out - modest volumes continue leaning currently in favour of buys.

[jpjp100] 20/9/2013 10:41

The Board would surely rather surprise on the upside if they possibly can

[spaceparallax] 19/9/2013 09:34

I thought they'd committed to an annual divi.

[woodcutter] 18/9/2013 20:39

my guess is we'll see good results with some pull back in share price after the rise. It really all depends now on the progressiveness of the dividend policy and the outlook statement but i expect a small correction.

Woody

[spaceparallax] 17/9/2013 14:46

roll-on next Monday - expecting good things. I suspect that today's profit-takers will look back with regret.

[spaceparallax] 13/9/2013 15:07

sp looking solid

[spaceparallax] 12/9/2013 13:24

Given that the upcoming EPS is likely to be C10p yielding a PER 8 it's hard to see why the long overdue price correction shouldn't continue - this well run business is in rude health and continuing on a virtuous path of debt reduction, which allows a rise in EPS even if business growth is restricted in these tough economic times.

The tricky challenge is how to create healthy organic growth and to introduce a maintainable dividend that will strengthen the attraction to longer term Institutional investors. The more of those investors on board, the greater will be the PER and share price

[battlebus2] 12/9/2013 12:56

Great to be on the rise again here.

[spaceparallax] 12/9/2013 12:55

Woody,

I'd say RGD continue to harbour significant potential, but still offer poor value crf FIF. Totte continues to spout hot air whereas the FIF management have acted to gradually solidify finances coupled with efficiencies and initiative - the long oversold FIF has shown tremendous improvement over recent months, with lots remaining because of the still modest PER.

[woodcutter] 12/9/2013 12:01

thx will do

[aleman] 12/9/2013 10:51

I'd advise caution. Check out Totte's record with Hill Station.

[woodcutter] 12/9/2013 10:29

Aleman have you looked at RGD i've given it a cursory glance and looks very similar to where FIF was some time ago. Doesn't seem to be generating the same level of cash as FIF was so net debt could be less manageable.

WC

[spaceparallax] 12/9/2013 09:36

hey presto - come the month end, once the results have sunk in, I anticipate the share price being nearer 90p than 70; shrewd PIs getting on board ahead of results.

[spaceparallax] 11/9/2013 12:49

tickup imminent methinks

[spaceparallax] 05/9/2013 15:36

sp looking strong with a steady trickle of buying and modest selling.