Finsbury Food Share Discussion Threads

[kalai1] 17/11/2022 12:40

Finsbury Food Group Plc issued a positive AGM trading statement this morning. FY22’s record revenue is being followed with more robust performance in FY23, sales for the first four months of FY23 grew by 15.7% to £122.8m, driven by a mix of volume growth of 1.1% and price recovery of 14.6%. Management believe they are seeing a shift in consumer behaviour which should accelerate food retailers' Own Label sales to the benefit of FIF. They also sound confident that the “Group will continue to make progress and deliver profitable growth." Valuation looks reasonably attractive with forward PE ratio in the top quartile for the Food & Tobacco sector. The balance sheet is solid and the share price has positive momentum and is trending higher through 2022. BUY...from WealthOracle

[lewaus97] 07/11/2022 19:51

What does that mean?

[value viper] 03/11/2022 11:12

LDG / DBAY the buyer using Pershing Hhmm

[spaceparallax] 27/10/2022 11:01

Our chart is looking really healthy of recent months - let's hope that our major holders are able to stay the promising course rather than need to cash in for short term demands; if so, we could well break the 100p level by Xmas.

[spaceparallax] 24/10/2022 13:55

Pershing seem keen to amass a big stake

[sphere25] 24/10/2022 10:15

Another 1.9m just bought at 89p here

[spaceparallax] 18/10/2022 08:25

It'll be interesting to see where the Miton are heading, that said their selling isn't stemming the share price rise. Looking promising.

[sphere25] 17/10/2022 15:34

*Hang on, need to edit this. It looks like I have under counted the volume*

So we have:
2.5m delayed print today @ 85p from the 14/10 @16:45
2m print @ 85p on the 13/10 @ 17:15

Today we have 2m bought at 86p @ 15:19

Ok that's now up to date.

Clearly someone still in the market for big chunks of the company - still LDG?. I sold these too early haven't I (it was a habit back in the boom days ha) but watching to see if this can break out on these big buys.

You can still form tops on big buys like this so still have to be careful but interesting buying here of late. It is another 5% (previous had this as 3.5% on missing one - be nice to have a more accurate volume read on advfn, tricky delayed trades!) of the company picked up so if this demand were to continue, it could head up toward the 100p mark too. Anomalous and large demand, particularly for something as often stale as is FIF.

All imo
DYOR

EDIT: 16:07 In for a few. Market makers jumped ship off 86p on my small buy and now they have closed off the offer there with just Berenberg sat there with nothing to offer so they might be shifting higher. There still appears to be decent demand in the market here so it might be breaking higher. If the market buys through 87p, it should be on its way to at least that 90p-100p range. Stop at under 84p.

EDIT: 18:13 Another late print. Another 1.25m bought today at 85.88p. Yep, I watch stuff at this time too! Now it's time to watch the US. This doesn't stop.

EDIT: 18/10/2022 08:08 "LDG is pleased to announce that, further to its announcement on 26 August 2022, it has acquired a further 5,132,000 ordinary shares in Finsbury Food Group plc ("Finsbury") (LON:FIF) at an average price of GBP0.81 per ordinary share, for a total cash consideration of GBP4,165,820.

Following these purchases, LDG is interested in 8,832,000 ordinary shares in Finsbury, representing approximately 6.77% of Finsbury's issued share capital."

Recent volume is bigger than that so there is still large demand for FIF shares. No shares on offer at 87p now so this might be breaking out.

[spaceparallax] 06/10/2022 08:33

Given the Company's rude health, I'd find it inconceivable that any bid below 200p could succeed.

[ntv] 05/10/2022 16:44

Would a bid of just a £1 do it in this market?

[spaceparallax] 03/10/2022 08:36

Thanks for those bits of feedback, not that I'm surprised to read them.

[ntv] 02/10/2022 17:56

and in Midas column in the Sunday Mail

[wad collector] 02/10/2022 08:47

Tipped in IC this week pointing out that it is a potential bid target. Looks like hot air from Panmure Gordon but you never know...

[jpjp100] 27/9/2022 10:28

Good enough results for me too.

What matters most (imo) now is how competitors and potential acquisition targets are getting on.

To keep the Board busy & engaged, I think they need an acquisition to work on.

I hope FIF is out performing enough that they can find a way to get an acquistion on the hook at the right price.

[spaceparallax] 26/9/2022 14:30

Superb results during difficult times - this really is a well-run company, that currently sits on a crazy low per.

[thecroots] 26/9/2022 09:38

Im very happy with those results in this market.

[kevph] 26/9/2022 07:26

Results heavily adjusted. Appears cost increases were not enough in this environment. They should have been bolder with their increases earlier on.

[ntv] 08/9/2022 14:18

1.5 today
Highest was 77

[sphere25] 07/9/2022 14:34

Good spot NTV

This is highly irregular activity for FIF. It is an interesting battle to watch too and shows the amount of buying that is needed to make a share pop higher in this market.

Clearly it's not just the 3.1% LDG have picked up (think its London Finance & Investment group who held 3.9m i.e. 2.99% they cleared out) recently, it is also all the big blocks (potentially another one percent plus picked up) from yesterday and now you have more big bidding for shares in auction, which would be around another one percent of shares in issue.

Looking at other recent activity:
EBT acquired 680k in June to hold 5.1%
EBT acquired 717k in July to hold 5.6%
Fidelity moved from 5.37% to 10% in late June.

It is taking whopping big buying to get the price moving higher. It shows how the sellers sit in layers in size (almost covertly) at all the different price points and why alot of shares just can't move higher or hold the rallies out there.

Clearly FIF has a chance here with this level of demand so we must be trying to ride this one higher to at least that 80p mark (200 day moving average there too) but blooming hek it takes some right clout from the bulls to give the stale bulls/bears a battle in this market.

In a different market, the dynamics are completely different and much less buying gets the price moving and alot more rapidly. That time will come but it's a right grind at the moment.

But yes, an interesting example and the eagle eyed traders can clearly have the chance to profit if these things can be spotted.

All imo
DYOR

UPDATE: 16:33 auction
500k bid @76p
750k bid @77p

And the auction closed without them getting any fill. Gonna have to bid higher to find more sellers.

And now we wonder how much of the company they want and up to what price. Go for 10%, go on...you know you wanna!

[ntv] 07/9/2022 14:11

Sphere25
I saw the 1m bid in auction as well
Interesting times
We have an interest in both parties here but LDG falling