Finsbury Food Share Discussion Threads

[thecroots] 07/4/2022 17:45

FIF have increased prices to mitigate some of the costs pressures. Therefore, we should see a decent like-for-like increase.

Most retailers/producers have had no choice but to pass on costs

Often, institutions will reduce holdings in a share when it falls below their stop loss. Like us, they all have strategies and will want to protect their clients interest in their portfolios. Its quite normal.

[spaceparallax] 07/4/2022 12:05

Surely most businesses will be affected by such factors but probably not as well managed as FIF.

[smithie6] 07/4/2022 11:39

2 shareholders of >3% have been reducing.

Interesting.

Any opinions ?

-----

Do these >3% holders phps think that cake)treat sales will be under pressure in 2022 due to the widely expected reduction in spare cash in people's pockets ?

(Inflation up higher than wages. Petrol, gas, electricity up, NI up,

& also
costs up notably for Finsbury, incl wages, transport, wheat, gas, electricity)

[3800] 05/4/2022 17:39

it's still 25% down from a few months ago, nothing to get excited about.
3800

[justiceforthemany] 05/4/2022 15:44

10% up
Takeover?

[tole] 03/4/2022 06:50

https://www.fool.co.uk/2022/04/02/3-cheap-penny-stocks-id-buy-before-the-isa-deadline/A penny stock for cake loversMy final share is one I already own. Bread and cake producer Finsbury Food Group (LSE: FIF) makes a wide range of fresh products stocked by supermarkets in the UK and parts of Europe.Finsbury's share price has fallen by more than 30% since then end of 2021. That's left the stock trading on a potential bargain rating of just six times forecast earnings.Although management admits the company is facing pressure from rising food, energy and wage costs, Finsbury has a decent track record of managing these issues.Finsbury's sales rose 9% to a record £166.5m during the first half of this year. Although adjusted earnings fell 18% to 3.6p per share, City analysts expect full-year earnings to be unchanged from last year at 9.1p per share.I think there's scope for Finsbury shares to re-rate quite quickly, especially if price pressures ease. I'm continuing to hold this penny stock in my ISA as we enter the new tax year.

[spaceparallax] 29/3/2022 09:46

fortunately this well managed business continues to thrive despite this

[thecroots] 28/3/2022 18:42

Well that holdings announcement makes sense.

Now that the seller has hopefully gone, we might be able to recover a little bit!

[thecroots] 15/3/2022 17:54

Out today:

[smithie6] 03/3/2022 17:23

You might say that, & the dirs as well.

But
Is it not true that the financial performance was down

Despite the sugary words from the dirs. !

[spaceparallax] 03/3/2022 13:13

Fortunately the FIF management have a strong track record for managing the process very effectively to mitigate such impacts that will affect this and many other industries

[smithie6] 02/3/2022 19:01

Wheat cost is up 30-40%.

[slimjim1] 28/2/2022 14:39

paying over and some largish buys this afternoon

[spaceparallax] 28/2/2022 12:54

In the recent difficult times I'm very happy to sit tight here.

[jpjp100] 22/2/2022 08:42

a tough half year for the company

I think the Lightbody Stretz transaction has been in the works for some time and the decision to do it and announce it at the same time as the interims was in an attempt to provide something positive to offset the weaker profits / EPS

Anyway, revenues & volumes are up and the restatement of the intention to continue to be on the doing side of industry consolidation is positive imo

Hopefully foodservice gets back up to full speed quickly as the covid restrictions continue to come off

A lot depends on how fif has come through the last couple of years compared to its competitors now. There could be some interesting opportunities that open up as that becomes clearer

[smithie6] 21/2/2022 16:46

The directors write

"successful track record of navigating challenging market conditions"

But

The numbers say that EPS has fallen from ~4p to ~3p. The EBITDA number is down from £7.4million to £5.7million.

Sorry, but the directors' text looks a load of baloney or am I missing something ??

[justiceforthemany] 21/2/2022 15:25

H2 should be stronger however given less Covid disruption and higher revenue. Gross profit was up actually. Admin costs need to come down.

[wad collector] 21/2/2022 09:26

Interims showing a profit fall are not well received this morning ; though increased turnover and reduced debt , the EPS fall seems to be the dominant statistic, new 6 month low.
Or increased yield if you are looking at adding of course...

[km18] 17/2/2022 18:06

...from last year...

Company overview:
Finsbury Food Group is a specialty bakery manufacturer based in the UK. The Group is engaged in the production of cakes, bread and bakery snack products for retailers and foodservice channel. The group has under its umbrella eight manufacturing facilities and bakery companies, and one distribution company, across the UK and Europe. Company’s focus is achieving baking brilliance, through ever rising standards and effective work as a group. Growth strategy is based described as blended, with continuous R&D expenses over the last decade, supported by numerous acquisitions. As a result, the goodwill in 2020 was at 335 of total assets. Last year there was also an impairment of £7.5m which, unfortunately, managed to wipe out almost all of the profits, meaning the intangibles should be observed closely.
Fundamentally, the company, just about covers the 4-star rating for us. The growth in revenue has not been continuous, and as we stated, last year they made a very small profit for the period. However, the company has a proved history of its ability to retire debt, and in the last 2 years they are also repurchasing shares. Cash generation is strong, and revenue is more than double the current market cap, providing good opportunity for stock appreciation.
Latest communication from the company are the preliminary results and they look stellar. Group revenue is up 2.3% to £313.3m, which is above the Stockopedia prediction of £309. Where the big numbers come is on PBT level, where the company is 493% ahead of 2020, with a profit of £17m, and gross margin is up 1.7% to 32.9%. If we apply the same tax rate as in 2019 (on PBT of £13m) Net profits should arrive at roughly £12.9m; with 132m TTM shares reported on Stockopedia, EPS arrives at 9.77p. which is way above the 2020 figure and the forecasted 8.9p. The strong trading is firmly supported by recognition of their product excellence and further innovation in line with consumer trends....from WealthOracleAM

[jpjp100] 19/1/2022 14:01

Even as a shareholder, I would have accepted the company being hit harder for the pollution of the river. It disappoints me that has happened.

The Pre close includes encouraging pointers to the foodservice business coming back to life well & the overseas business hitting decent turnover numbers too.

Overall I am still here because the management team is top notch & the industry needs more consolidation. I think the current FIF Board has the appetite to do at least one more decent sized deal and to integrate it successfully.

I watch with interest.

[spaceparallax] 17/1/2022 08:48

I'm surprised you didn't already know that

[smithie6] 15/1/2022 18:22

Memory Lane Cakes (part of FIF I am sure) fined, £26k + £13k costs, for polluting river.
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"Asking for any fine to be proportionate, Mr Rootman told the court that the company, which employs 850 people at the Cardiff site, had a turnover of £70m but made just over £700,000 in profit - around 1%.

"It's a very low margin business," he said."

[spaceparallax] 14/1/2022 17:36

Looks pretty good to me

[thecroots] 13/1/2022 11:19

Well I'm happy with those results.