Glanbia Share Discussion Threads

[wipo1] 21/11/2003 11:53

Hypocrite:-

Thanks for the info mate, can't blame you for wanting to take some profits. I sold some at 140p just before results then bought back for 129.75p. Market makers are very annoying, and its a disgrace that a company with a market cap as large as Glanbia's is as bad as trying to sell a small company that only worth £20million! Fyffes which has a similar maket value seems to be more liquid, probably 'cause there is more market makers trading the stock.

Share trading sometimes a catch 22, there is little value in the FTSE 100 so therefore you buy small/mid caps value stocks, then you get market makers mucking about with the price when you go to sell them!

I am happy to hold with GLB on a forward p/e of 7 and a decent yield. But it is nice to take a profit sometimes.

I also like DVO in this sector as well.

Thanks for the reply mate.

Craig

[hypocrite] 21/11/2003 10:45

Wipo1

I was not wanting out of Glanbia....I was taking a small profit
on 1/6th of my holding....that is not baling out......
Glanbia is a great company...but understands little about what it takes to have an attractive share price.....much less what it takes to have liquidity in
the most important share market.....of course the Dublin guys would love to keep
it to themselves...who would'nt I suppose.....that's probably why Kerry are valued SIX-EIGHT times more!!!

[hypocrite] 21/11/2003 09:45

Well, I have sent my email to all the management, addressing first of course
to Mr. Moloney.....I am not holding my breath........
BUT if a company is unaware of the need for several marketmakers in London
to facilitate having it's share price traded freely there, then they are simply not going to achieve very much for overseas investors.
Moneybags in Phoenix magazine in Dublin has been very critical of the company of late....I havent had much craw up to now for his criticism of the company....but I am beginning to listen now!!!!
Caveat Emptor!!!

[wipo1] 21/11/2003 09:20

Hi Hypocrite,

Sorry to hear you are wanting to get out of Glanbia. The share is very illiquid considering the size of the company. Market makers are pretty fly to mark the price up or down when there is buyers or sellers of any more than a couple of thousand shares.

I only hold just over 3000, I am quite happy to leave them in the bottom drawer for now.

[hypocrite] 21/11/2003 08:45

I will be writing reiterating my observation last year
to Mr. Moloney, Glanbia's MD,
that the chances of Glanbia's share price gaining
greater acceptance in the UK and elsewhere, are slim, while the share
is limited to two brokers in Dublin,
and ONE only in London, Winterfloods, whom I consider
to be a small share broker, (this mornings announcement concerning
their new focus on OFEX companies would rather endorse that view).
Ownership of Glanbia shares in sterling makes it extremely
difficult to trade.
This London broker, deals a mere 1000 shares, bid or ask.
Taking the appropriate figures into account, it is perhaps symptomatic
of Glanbia's problems, that the share price trades at 1/6th
to 1/8th of it's peer Kerry Group, suggesting the underperformance of the company and its share price, but more particularly the fact that domestically
and internationally Kerry have 8 marketmakers(ref:ADVFN) as opposed to
Glanbia 2 in Dublin and 1 in London.
This morning I decided to trim my sterling holding from 72000 to 60000,
and trading on ETRADE execution only, I tried to sell 12000 shares, only to find the order did'nt fill, and immediately after the price on advfn had dropped 4.5p and 5 minutes later, it showed down 5p with a sale of 362 shares, which did'nt take a lot of figuring out as to why.
I now realise that Glanbia'a London quotation is not very liquid.
I have found this out to my cost on the first and only occasion I have tried to sell a single share in the five years since I have owned them.

Caveat Emptor!

[hypocrite] 18/11/2003 08:03

LONDON (AFX) - Glanbia PLC and Milk Link Ltd confirmed that they are in
discussions regarding potential opportunities for partnership in serving the UK
cheese market.
These discussions are ongoing and no conclusions have yet been reached, the
company said.
Glanbia added that it is committed to continuing to have an ongoing role in
the UK cheese sector notwithstanding the outcome of these discussions.
[e-mail]
slm/

[wipo1] 10/10/2003 13:52

Hi Hypocrite - yeah, some interest generated from a press tip, but otherwise has went quiet. Have you received your dividend yet? I have still not got mine, going to check me bank today, but it was not in yesterday!

Cheers

[hypocrite] 10/10/2003 03:58

Just waiting for the news of their planned acquisitions!!!
Otherwise just find 3 marketmakers, only 1 in London
a bit of a bugbear!!!!

[wipo1] 08/10/2003 18:53

Its went all quiet here, everyone still in I take it and enjoying the nice steady rise! GLB and FFY are my two biggest holdings, i have high hopes for both.

[wipo1] 11/9/2003 20:44

A few market maker buys for 10,000 shares in the last few days - seems that one the MMs is holding back the price, bit like a lot the other small caps.

[wipo1] 08/9/2003 15:51

Nice rise today after a tip from the Mail on Sunday. Trend on this one is definately up. I topped up again today!

[gateside] 27/8/2003 07:34

hypocrite..Do you know when the cut off date is for the next dividend, and what it presently is per share? I would be buying them in London and not Dublin, if that makes any difference.

Thanks in advance

[hypocrite] 27/8/2003 07:14

Solid performance....domestic operations showing the benefit of focus
after sell offs in the UK....borrowing down 20% to 250 mil......loads of spondulux available for partnerships or acquisitions...NICE dividend again....if I cant get any interest income from the bank, I have to get it from somewhere.....expansion in nutrition and ingredients impacted by consumer confidence and exchange rates....but that will rebound in second half....had
to be affected by all their expansion activity as well......growth from Glanbia of 5% in the most difficult first half (globally) since 1930.....has to be seen as a
sterling workmanlike performance.....and nice to know one's money is secure for a change!!!
Euros 3 by year end!!!!
Caveat Emptor!!!!!

[gateside] 26/8/2003 22:00

Hypocrite....Some excellent posts, there are so many shares out there, this one has gone un-noticed by myself in the past...only wish it hadn't.

I have shares in FFY, though which I got a link to GLB and after reading though your posts, would agree that this is an excellent comapny in the making...

Will be watching carefully.

The RSI is looking a little high, maybe the fact that it is a little over bought is the reason for the decline in the share price today?

If this dips to around 125p would seriously consider buying

[cockneyrebel] 18/8/2003 12:39

Result date announced - Weds 27 Aug - next week.

I wish this thread had a better title - I keep missing it.

Just topped up.

CR

[hypocrite] 17/8/2003 14:34

Kerry V Glanbia


Peer Performance is everything or so some of the Dublin broking "experts" would have you believe.....well if that is so....why such a divergence in the share price????
Do Kerry have better sales representation for their share price????
Kerry having EIGHT marketmakers, between Dublin, London and the Continent, and an ADR listing in New York
MUST mean the Kerry case is better heard than Glanbia's...with a miserable two in Dublin and one in London.....and as far as I can gather no US listing at all.

[hypocrite] 17/8/2003 09:20

interesting comparison when you ask How far can Glanbia go.......
With only one marketmaker in London, and two in Dublin,
Consider......
Kerry Group........Turnover last report.....3.7b......shares 185m.....price £10
Glanbia...............Turnover last report....2.3b.......shares 293m.....price £ 1.40

Given the paydown of debt, the funding for acquisitions, the rationalisation of their
coop sector(same as Kerry), the emergence of multiple global partnerships, European leadership in Pizza cheese products, global whey producing capacities,
focus on ingredients industry(just like Kerry), with a few negatives, such as
unhappy farmers(just like Kerry), with rationalisation of Irish agriculture looming
on a grand scale, possibly via Supercoop(same issue affects Kerry)....why should
this company be trading at a tenth of the Kerry share price?????
It has one third more shares in issue, 2/3rds the turnover of Kerry, and if all the other fundamentals by which one judges a profitable operation are coming together,
what should our target(expectation) be.....
Kerry £10 minus 1/3rd difference in turnover=£7 and less 1/3rd for difference in
shares issued=£5 at least!!!!

[wipo1] 13/8/2003 09:29

Up again today, this one has definately being overlooked.

[wipo1] 06/8/2003 18:38

Hyporcrite-

Thanks for the interesting posts, I am in GLB - I like this sector, have made a lot on FFY and DVO in the past. Hope to do the same here, seems it is rising slowly but surely.

[hypocrite] 09/7/2003 23:56

Glanbia planning USD170m facility in US

Wednesday, 9th July 2003 11.44am



Glanbia is planning to build a USD170m cheese and whey facility in the US in a joint venture with two dairy co-operatives.

The dairy and consumer foods business said today that it is in advanced negotiations with Dairy Farmers of America (DFA) and Select Milk Producers about building the facility, which will be 50pc owned by Glanbia.

Glanbia and DFA/Select will each invest USD35m in the facility, with the remaining USD100m directly financed by the joint venture entity.

Managing director John Moloney said the facility will position the firm as the number one producer of American type cheddar cheese in the US.

Once fully operational, it is anticipated that the new facility will generate sales in the region of USD340m per annum and will employ approximately 200 staff. It will annually process over one billion litres of milk and produce 115,000 tonnes of cheese and 7,500 tonnes of high value added whey proteins.

Glanbia expects that the plant, which should be commissioned in 2005, could become the largest advanced whey processing facility in the Northern Hemisphere.


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