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FIF Finsbury Food Group Plc

110.00
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
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
  0.00 0.00% 110.00 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Finsbury Food Share Discussion Threads

Showing 4701 to 4725 of 4850 messages
Chat Pages: 194  193  192  191  190  189  188  187  186  185  184  183  Older
DateSubjectAuthorDiscuss
13/1/2022
10:45
Is it a strange trading update

Gives lots of turnover data
Talks about cost inflation items

But
No mention about whether profit is in line or down or up. Seems strange to me.

No position.

smithie6
30/12/2021
16:56
Thanks for that reminder, I'd forgotten to bank the divi chq.
spaceparallax
29/12/2021
18:08
divi yield is less than inflation, am I right ?

about half

so maybe the divi yield is not as wonderful as you say

-----

anyone got any views on the impact of the coming increases in corporate tax rates ?
(I calculate that increase in corporate tax rate to 25% from 19% will reduce the PAT by 6%)

smithie6
23/12/2021
21:10
It is certainly one of the attractions of Finsbury , one of the highest yielding AIM shares. I have just failed to find the list of AIM shares by yield, Google has failed me.
wad collector
22/12/2021
12:45
A decent divi landed today - heaven sent in these days of pathetic bank interest rates.
spaceparallax
24/11/2021
17:20
3800

I liked this part of your post. :-)

"judging by how fat some people are, it is as if cake is an essential for human life smithy"

(I must admit that personally although I do like some personal treats, cake is not on my own list, but for others/families it is more likely; my own treats tend to be stuff like beer, wine, cheese on toast !, salmon, & healthy stuff like dried apricots, mixed nuts !; in the country where I live the quality/taste of cakes etc is terrible, mega % sugar & chemical gunge; in the UK I'm partial to a fresh real cream doughnut from Greggs :-)
...since I'm not so young I limit the amount of 'bad' stuff that I eat per month)

smithie6
22/11/2021
09:11
hxxps://www.bakersjournal.com/uk-chocolate-sales-weather-recession-well-2490/

During the last recession (2008) Sweet treats & gambling I seem to recall held up their sales.

People like rewarding themselves, and will continue to buy 'sweet treats' even during bad times.

Also, FIF make alot of celebration cakes. As a parent - I will forgo ALOT before a childs birthday cake for example.

jimmywilson612
21/11/2021
22:08
judging by how fat some people are, it is as if cake is an essential for human life smithy. That is the thing about food production people always have to eat. I expect when times are hard they eat more chocolate to consol themselves.
3800
21/11/2021
19:59
yes

but
many of FIF products are optional treats

cakes, mini cakes, special breads etc

if they inflate in price (& people also have less disposable cash to spend, due to increased costs of petrol, electricity.. .& everything else)
then perhaps people will buy less treats/cakes made by Finsbury

no ?

smithie6
19/11/2021
23:15
Tell me a food supplier that isn't going through the same problems?
jimmywilson612
19/11/2021
18:59
...just so long as you/we all know that you can't pay any bills or suppliers with cheques of '£X of goodwill' instead of £X of cash.
smithie6
19/11/2021
13:07
Hi Smithie,

All good points and yes you were right - the figures I quoted were for last year, not this year.

In response to your price increases, I agree. Inflation is tough work in food at the moment, but its an industry wide problem and not anything related to solely Finsbury Food. This is also happening in multiple channels, and not just Wheat, Flour, Sugar etc.

hxxps://www.mintecglobal.com/top-stories/evaluating-the-impact-of-recent-inflationary-pressures-on-the-uk-food-industry

(From the article above)
Chicken - 11.8% Increase
Beef - 10.4% Increase
Dairy- 9.9% Increase ( 70% Up from the lows of 2021)
Rapseed Oil - 81.3% Increase
Onions - 21.4% Increase
Nuts - 17% Increase
Packaging - 60% Increase

hxxps://www.youtube.com/watch?v=8sZus9ZI_1o - In Finsbury latest announcement to the market, on the Q&A - they have a 12 week period to announce price rises to their customers. Often, they work in collobration when increases are happening to raw materials.

Finsbury food has focused alot of work over the last 2 years to optimise performance across their businesses. I think this market - scale will gain you market share. You've seen with Tesco - announcing above market expectations for example.

Plenty of high growth categories for Finsbury Foods - Vegan Cakes, Free-From Ranges, Organic Ranges & Artisan ranges. 50% of their business is within cakes area, often under licence agreements (Such as Disney cakes etc). Whilst prices will be increasing - brand powers of their ranges will mean they SHOULD be able to pass prices onto Retailers & Customers alike.

Net Assets would include Goodwill due to them being a highly acquisitive business BUT they have strong relationships with lots of customers and feel this is an intangible asset. Strong retailers need strong suppliers to cope with the demands of the sector at the moment (product availability being a key one).

jimmywilson612
18/11/2021
20:50
Wheat, average price in 2021 of ~0.75

now ~0.9

20% increase

Does Finsbury buy wheat, to make & sell >£300 million of stuff per year ?

lots

sugar & gas are also currently notably above their annual average

smithie6
18/11/2021
20:46
this website says that TNAV is 17p/share

a long way below the share price of £1

so don't think that the share price is supported by real nett assets, as you infer. It is not.

-----
"with profit for the year being no less than £15M."

I completely disagree.

In the last accounts & in any trading update since then there is no profit forecast that I can see. There might be a forecast from different analysts, but not from the company, not that I can see.

There might have been a forecast during the last financial year, for last year, not this one.

smithie6
18/11/2021
13:15
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?

jimmywilson612
18/11/2021
10:48
I liked the update, and the market seems to too. Better than most AGM statements
jimbo123elf
18/11/2021
09:22
That update wasn't a lot of help.
spooky
18/11/2021
08:52
AGM statement

....inflation, drivers etc

"We have responded quickly to mitigate much of the impact of these challenges through commercial negotiation and other initiatives. "

so, they have been affected
but no numbers for how much they have been affected

----

via 'negiotations' & other initiatives

(some stuff they will struggle to pass on quickly to selling prices imo...."much of the impact" shows that some stuff is not getting passed on)

but how quickly do those allow FIF to increase its selling prices to supermarkets ?

if contracts get re-negiotated every 3-6 months for input cost inflation then it hits profits. if it is every week (impossible imo) then some input costs inflation would not have any impact

----

some things will not be negiotable imo, such as internal wage inflation, otherwise FIF could just increase all wages by 20% & not see any -ve impact from supermarkets, obviously impossible.
(although an index for UK wage inflation could perhaps be applied, if supermarkets agreed to that; but supermarkets are famous for screwing down their suppliers on prices

smithie6
16/11/2021
11:44
& might the higher cost for people of fuelling their car

& paying higher electricity & gas bills
reduce the cash left for treats such as cakes from Finsbury.

------

& the costs of ingredients/wheat & gas/electricity for production have gone up a lot

smithie6
15/11/2021
14:25
Rising raw material costs.
Rising energy costs.
Rising labour costs.
Selling into supermarkets in much of their business. Notoriously hard to achieve price rises.
That mix has to be causing them some issues, i will be interested to see what they have to say.

spooky
15/11/2021
13:50
Performance and profits held up very well during the pandemic.
P/E <10
Upcoming dividend
European growth
Defensive sector
M&A play also

justiceforthemany
05/11/2021
16:08
so, gas & electricity prices have stayed high

minimum wage is up

it is difficult to find cheap foreign workers, & this is causing problems in many factories. in meat/animal processing, some live animals are shipped to Europe & then the packaged meat sent back to the UK

there are not enough drivers to drive delivery trucks

----

All looks negative for Finsbury

& yet today the share price goes to a new short/medium term high.

Why ???!

smithie6
29/9/2021
11:50
nat. gas price now doubled on my monitoring portfolio

& leccy price is also sky high

so, personally I'm surprised that the FIF share price has kept going up

smithie6
21/9/2021
15:00
got to be happy with the prelims

surely there must be some behind the scenes stuff about acquisitions or similar going on - they are coming out of the pandemic in great shape and there might be an opportunity to pounce

jpjp100
21/9/2021
10:55
gas price crisis, article on BBC website
smithie6
Chat Pages: 194  193  192  191  190  189  188  187  186  185  184  183  Older

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