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Share Name Share Symbol Market Type Share ISIN Share Description
Finsbury Food Group Plc LSE:FIF London Ordinary Share GB0009186429 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -1.00 -1.85% 53.00 52.00 54.00 54.00 53.00 54.00 172,839 11:47:27
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Food Producers 306.3 2.9 -0.6 - 69

Finsbury Food Share Discussion Threads

Showing 4201 to 4225 of 4650 messages
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DateSubjectAuthorDiscuss
07/11/2014
15:54
Last trade of 6000 shares is a buy, not a sell.How many other sells are really buys?
smithers
05/11/2014
16:23
Yes I agree. Whilst I don't always agree with him, I do always listen! and the podcasts are a great way to gain more insight.
hutch_pod
05/11/2014
15:47
Hutch_Pod thanks for the correction; I think Paul Scott is doing a cracking good job with those podcasts.
hatter2
05/11/2014
15:35
Hi Hatter, I agree with the sentiment, but I think it was Edward Roskill on this occasion - just as worthy though perhaps..
hutch_pod
05/11/2014
15:13
Hutch_Pod that was a very enthusiastic opinion from Edward Roskill of the future for Finsbury after their reverse takeover of Fletchers Group. In my view any comments from such a respected investor as Edward Roskill ( not Boros, my error) are worthy of consideration. Looks good to me but as usual all potential investors should DYOR.
hatter2
28/10/2014
10:30
I wonder if this podcast helped - Paul Scott's weekly interview, first stock mentioned FIF. hTTps://audioboom.com/boos/2596110-26-oct-2014-small-cap-value-edward-roskill-paul-scott#t=2m21s
hutch_pod
28/10/2014
09:07
Maybe starting to sink in just what a good acquisition Fletchers Gp was ;o)
fozzie
27/10/2014
12:18
Fletchers - I met management at the time of the capital raising and quizzed them closely about the price paid for Fletchers. It seems good value because a) Fletchers own a freehold site worth £4m; b) Fletchers had tax losses of £18m and capital allowances to be claimed - worth in total around £7m; c) Fletchers food services business which is 46% of revenues grew at 9% CAGR for last 5 years - impressive; d) Fletchers has been well invested in with £14m of recent investment; e) run rate EBITDA for Fletchers was stated to be around £8m. So, price paid including value for tax losses/capital allowances was around £50m and run rate EBITDA of around £8m = say 6 x EBITDA which is a very fair price. For the enlarged group EBITDA runrate is around £19m and maintenance capex is around £5m pa = £14m cashflow less interest and tax.
eswr
15/10/2014
19:56
No, it's a great fit. Only downside, and it's a significant one, is the price. FIF shares have been issued at an undervalue in my view, so its dilutive. They would never agree to a takeover at 59p and so why double your share issuance at that price?
topvest
15/10/2014
09:29
It is a good acquisition. I had contemplated that it might be a target, but had written it off as too big. Whilst I am pleased that a big acquisition is being made, I don't underestimate the difficulties of making it work. Sure, it would have been better if it was cheaper, but good strategic acquisitions that enable you to build a group that can grow aren't cheap and the seller (when it is someone like Vision) don't give stuff away. As it is paid for by a placing and not bank debt, the cost is easier to stomach. We have known for a while that a deal needed to be done for FIF to get to the next stage. I have spent some time wondering if the deal would see FIF as the acquirer or the target. I am most pleased that it is the former. Now that the group is getting towards £300m turnover and has an enterprise value of something like £111m, it starts to get it onto the radar of bigger investors too - which may have some benefits. Can you think of a better acquisition target in the market anywhere?
jpjp100
11/10/2014
14:28
Actually, here are the facts: Finsbury - enterprise value to EBIDTA 5.25 times Fletchers group - £56m divided by £6m EBITDA before exceptionals = 9.33 Probably would need to make a downward adjustment for Finsbury's pension deficit, but ignoring this. .........The target is valued approx 78% higher. Warren Buffet would not be happy with this!
topvest
10/10/2014
19:31
All very quiet on here given a major deal was announced today. Where has everyone gone?
topvest
10/10/2014
06:46
Well today's reverse takeover is a bit of a surprise. Looks a good and profitable business and sensibly funded. That said, it looks a little on the dilutive side for existing shareholders (i.e. paying a multiple of >> 10) for a business where FIF are currently on a multiple of less than 8. Have to say that it looks like they are giving away more than they are receiving, so it's now wonder the placing is over-subscribed. So, Finsbury is worth about £55m enterprise value (c£200m turnover) and Fletcher's Group is worth £56m (c£100m turnover). Better be lots of synergy! To be fair Fletcher's does offer foodservice distribution which they can channel the Finsbury product as well + the Kara brand. Looks like it will be earning enhancing next year though and helps give the growth clear growth momentum. Hopefully, that will also lead to a re-rating of the shares over time as they are still undervalued. Not surprising the placing was over subscribed. Shame existing shareholders are not given the opportunity through an open offer given the dilution we are suffering! Overall, mildly optimistic that this will be positive longer term but think it's definitely valued the target at nearly twice the relative valuation of Finsbury which is disappointing.
topvest
22/9/2014
20:06
my take business as usual is tough the work we have done is bearing fruit and there is more to come we are ready to make an acquisition but potential targets are thin on the ground and we aren't overpaying The Ch. statement in particular was surely worded to tell the word that FIF is ready to buy something.
jpjp100
22/9/2014
12:09
solid and likely to improve now that debt is firmly pinned down
spaceparallax
22/9/2014
07:24
Results out. Solid but nothing to cause too much excitement. Looks like they are definitely on the acquisition trail, but biding their time for the right deal. They could do with getting the share price up first though so they are able to use shares as part of any deal. Overall, a good recovery over the last couple of years but they now need evidence of some growth to move forwards.
topvest
14/8/2014
17:38
Looking strong
spaceparallax
31/7/2014
09:33
No real dip since update. Very impressive.
hutch_pod
29/7/2014
12:54
You raise fair points. I certainly think that work of recent years on debt reduction and efficiency have been well executed and as a result we see FIF in a very solid financial position. Like you, I would like to see growth but only at a sustainable pace that doesn't yield a return to the bad old days of heavy borrowing. I'm happy for them to bide their time and grow both organically and through sensible modest sized acquisition of complementary businesses, whilst maintaining a manageable degree of indebtedness that keeps them, rather than the lenders, in control of their destiny. Given the time that I've been invested and my desire to remain, so because of a bright future, I would be disappointed to be taken out at £1pps.
spaceparallax
29/7/2014
09:31
The question about how FIF's industry consolidates will start to loom larger. Partly this could be (should be) raised by FIF. That is the thing that will lead to the next step change in FIF's performance. The timing of FIF's moves in this area are as critical as the actions it takes. Just one to throw up for consideration. FIF wants to make an acquisition, the market doesn't like the idea of funding it in terms of new shares, FIF gets taken private as part of the deal to make the acquisition, we ride off into the sunset with £1 a share.... not nice is it?
jpjp100
28/7/2014
14:56
The PERs certainly support share price progress towards £1
spaceparallax
25/7/2014
16:44
Someone keeps paying over market price for size. Chart and fundamentals looking good again.
2breakout
25/7/2014
11:52
sp looking very strong
spaceparallax
24/7/2014
20:38
Yes, cheap indeed. A tad undeserved given their good record.
topvest
24/7/2014
20:04
wow, very meagre PERs
spaceparallax
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