Finsbury Food Share Discussion Threads

[jpjp100] 21/7/2023 07:33

Happy to remain a holder. Good performance from the existing business and still clearly working hard to maintain its position as an acquirer / consolidator, rather than a target.

I'm happy with that.

[km18] 19/7/2023 13:34

Finsbury Food plc issued a pre-close Trading Update for the FY ended 1 July 2023 this morning. Total Group sales were up 16% to £413.7m, 12.6% higher excluding the acquisition of Lees Foods Limited. The Group delivered a strong H2 performance with revenues up 17.1% versus the corresponding period in the prior year. Since the acquisition, the performance of the Lees business has been in line with management's expectations. The company has successfully focused on managing cost inflation and macroeconomic uncertainty through commercial terms, operational improvements and other supply chain and overhead initiatives. Valuation is attractive with forward PE ratio at 9.0x and PS ratio at 0.33x both in the top third for the Food & Tobacco sector. The balance sheet is strong with modest net debt around £29.6m at end FY22. Share price also has decent positive momentum. Not a bad small cap defensive name to hold as the UK economy continues to flounder. BUY...

...from WealthOracle

[volsung] 19/7/2023 12:32

Sold into the rise.
probably zoom on from here

[ntv] 16/5/2023 08:10

added a few recently

[dunns_river_falls] 01/2/2023 21:00

EPS of 11p for 2023, say a P/E of 13 = 143p? In good market conditions, that seems to be about the historical max P/E. Could be upside surprises, or more earnings enhancing acquisitions.

Lets see where the uptrend takes us.

[battlebus2] 01/2/2023 20:17

I think it will, we still have someone keen to add to their holding.

[wad collector] 01/2/2023 20:03

Out at 97p , 30% over the last 2 yrs will do me, not sure the price will hold short term.

[jpjp100] 01/2/2023 16:03

Lees is a nice little acquisition that, as others have pointed to already, is something that seems to have been a possibility for quite some years now

The 2012 MBO was £5.5m I think e.g. as reported here



I expect the deal stands on its own two feet anyway, but it comes with the added benefit (imo) of sending a signal that FIF is still looking to acquire

[battlebus2] 01/2/2023 13:18

Big volume again today and 1 million shares look to have changed hands at 99p

[battlebus2] 30/1/2023 19:37

Yes I remember that at the time. I didn’t hold but Unicorn who I was a big fan of did and pushed the deal through if I remember rightly. Must check what valuation it was bought out.

[3800] 30/1/2023 18:47

I thought the name Lees foods sounded familiar. It was previously listed on AIM then taken private with a great deal of opposition regarding the price by the shareholders. "Shafted" was the term widely used at the time. For anyone interested read here

3800

[ntv] 30/1/2023 07:57

A nice bolt on deal and earnings acquisitive at the same time

[battlebus2] 25/1/2023 21:48

Yep and new recent highs today.

[jpjp100] 24/1/2023 16:11

upbeat pre close, sales up 14.7% and cautious optimism underlying

not an easy market just now, but FIF seem to be managing a way through it pretty well

[ntv] 19/1/2023 08:56

Trading statement seems ok to me

[battlebus2] 18/1/2023 18:16

Update tomorrow morning 🤞

[battlebus2] 04/1/2023 10:56

I’ve been adding here lately, hopeful of a positive trading update this month.

[rimau1] 12/12/2022 14:29

LDG up to 13% holding now. This is similar to how Caretech played out so we can expect a bid from Dbay anytime now IMO. LDG only look for short to medium investments so this is not a long term strategic investment.

[ntv] 09/12/2022 08:51

If they bought the rest of the Ruffer share and a few, they would be getting close to the 29.99% limit

[rimau1] 07/12/2022 15:56

Ruffer selling down, presumably to LDG/Dbay. FIF should do well out of the consumer downturn as consumers shift towards own label foods. I agree that Dbay with likely launch an offer at these levels. Lets see.

[lpavlou] 06/12/2022 17:48

Either Dbay on behalf of LDG have doubled their stake today or have sold out. My money is on them increasing their stake

[ntv] 06/12/2022 16:14

Yes Sphere25, there is certainly big volume today. Ruffer selling more

[sphere25] 06/12/2022 16:08

Tipped?

Had a go following this little stream of buys coming in here. Nipped in and out a few times here already.

They might be following these big prints hitting. It looks like LDG are buying even more.

So there is 4 x 2.2m hit the book, but one is a correction so it is actually 2 x 2.2m. That will likely be both sides of the trade.

You also have 2 x 2m, again likely both sides of the trade so it looks like (not always easy to read these) 4.2m picked up. Maybe Ruffer the sellers?

IF that is all they want to sell then it could pop higher from here. Current bid-offer is 87.4p-88p, but they are having to pay through the offer offer of 88p for shares so a tick up expected.

Have to see if there is follow through here for a break higher. Stick my stop under 87p.

It has gone really quiet out there. Just watching to see if the wider indices charts are about to give some back of these recent bullish moves.

All imo
DYOR

16:15 UPDATE
Maybe someone will add in if this has been tipped or someone is in the know and sellers are done but shares have become hard to buy now so worth keeping a watch to see if 91p breaks for a breakout

[jpjp100] 18/11/2022 08:25

upbeat agm statement

in any consolidation of the industry, I still see FIF as a bidder, not a target

but let's see