Finsbury Food Share Discussion Threads

[thecroots] 16/3/2016 07:16

Excellent set of results

[spaceparallax] 01/3/2016 15:40

Good to see us on the up with just a fortnight until the results.

[jpjp100] 08/2/2016 09:03

Marnie Millard - that is a good addition to the Board imo

Nichols is 3x market cap of FIF and makes 2x as much profit from half the revenue

Great EPS growth record in recent years too

Her history includes larger companies too

I like the appointment

[hutch_pod] 07/2/2016 07:45

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.

[spaceparallax] 05/2/2016 11:10

Roll-on 16 March - I'm expecting solid progress to sustain the strong upward trend of the share price now that the mkt's finally woken up to what an underpriced gem FIF is.

[spaceparallax] 25/1/2016 09:37

Thanks Hutch, that makes gratifying reading.

[hutch_pod] 22/1/2016 10:54

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.

[topvest] 19/1/2016 18:12

You have to understand with this company that they are always very careful on margin comments and talk about challenging conditions as a matter of course. Why? Because their customers no doubt read their announcements and would use any stray bullish comments against them.

[jpjp100] 19/1/2016 17:46

I liked the pre-close too of course

I am interested to see where they go next re acquisitions / other corporate activity

Fletchers and Johnstones have shown that they are careful acquirers that can act quickly if need be and, more importantly, that they can do the integration piece pretty well too

In a still fragmented industry, that counts for a lot. The Chairman must know just about everyone in and around the industry and the new Company Secretary didn't join to prepare Board agendas

IMO FIF is likely to be actively pursuing further acquisitions, but will tread carefully and cautiously until it finds the right one on the right terms.

[hpcg] 15/1/2016 15:32

Not is absolute terms, but in relative bp.

[d4v1db] 15/1/2016 15:31

They're probably reluctant to reveal much around margin as they supply some of the big supermarkets. A sniff of extra profits and those companies will be looking to drive it down and put it back in their pockets.

[hpcg] 15/1/2016 15:16

I have to say I sold today. Macro and market trigger rather than the company, but lack of specifics on margin pushed me over the edge. If the open had held then I would have too, but it didn't, so I didn't.

[topvest] 15/1/2016 14:27

All very positive in my view. They have done very well recently. Probably benefiting from more money in peoples pockets given low fuel costs etc.

[spaceparallax] 15/1/2016 10:00

A very positive statement despite a tough marketplace.

[sweyn] 15/1/2016 08:58

Very happy with that!

[sweyn] 15/1/2016 08:58

Finsbury Food Group Plc

Pre-Close Trading Statement

Finsbury Food Group Plc (AIM: FIF), a leading UK speciality bakery manufacturer of cake, bread and morning goods for both the retail and foodservice channels, is today providing an update on trading for the first half of the current financial year, ended 26 December 2015, prior to entering its close period.

The Board is pleased to report that since the positive AGM trading update in November 2015, strong trading performance has continued throughout the Christmas period. Total Company sales revenues grew to GBP156.6m, an increase of 46% on prior year. This includes like for like* growth of 7.4% over the first half of the prior year. The UK Bakery division grew by 6.1% on a like for like basis and the Overseas division, the Group's 50% owned European business, grew by 18.8%.

The prior year acquisitions of Fletchers in October 2014 and Johnstone's in June 2015 are now fully integrated and performing strongly.

Consumer markets remain challenging and organic growth has been hard won, requiring significant promotional investment, NPD and fresh layers of infrastructure.

The Group continues to invest in the business through both capital expenditure and investment in its people, to ensure that it is well equipped to deliver growth and improved shareholder value over the coming years.

John Duffy, Chief Executive of Finsbury Food Group Plc, commented:

[artibee] 15/1/2016 07:39

Good statement but 'hard won' presumably means at the expense of margin. Not much to be done about that I suppose.

[soundbuy] 15/1/2016 07:38

6 mins6 minutes ago

PAnmure's Peter Smedley retains a 'BUY' recommendation for FINSBURY FOOD GROUP

[sweyn] 06/1/2016 15:57

Normally shares move a bit quicker to such news.
The markets are happily ignoring most of the share prediction made by the tipsters.

I wonder if there is something new in the background?

[spaceparallax] 06/1/2016 09:58

See post 1871 for reasons why

[soundbuy] 06/1/2016 07:53

Onwards and upwards..........

[sweyn] 05/1/2016 19:21

Does anybody know why?Don't get me wrong, I'm happy, but I assume there must be a reason?

[spaceparallax] 05/1/2016 17:22

Interesting late activity - looks as if we're heading into the 120s soon

[spaceparallax] 30/12/2015 08:26

Great news - that should generate some interest and accompanying share price rise.