Glisten Share Discussion Threads

[slj] 26/7/2004 07:49

RNS Number:1943B
Glisten PLC
26 July 2004


FOR RELEASE 7.00AM 26 July 2004


Glisten plc
("Glisten" or "the Company")

Acquisition and Trading Update


* Acquisition of certain assets of House of York, a specialist toffee maker

* Results to 30 June 2004 in line with market expectations showing a strong
advance year on year

* All 3 recent acquisitions fully integrated and earnings enhancing

* Sales for the start of the current year significantly ahead


Glisten completed on 23 July 2004 the acquisition of certain assets of House of
York, North Shields, a specialist toffee manufacturer, for a total consideration
of #120,000 funded from the Group's own resources. These assets included
manufacturing equipment, the 'House of York' confectionery brand, product
recipes and order book.

These assets will be transferred to Glisten's sites at Skegness and Blackburn
and are expected to deliver additional sales of #500,000 per annum and deliver
new capabilities to Glisten including the ability to produce 'swirl' toffees and
'bonfire' treacle-based toffees both of which are sold in the international
market and to selected UK retailers.

In addition, the Board is pleased to announce that the results for the year
ended 30 June 2004 will be in line with expectations, showing a strong advance
and continued momentum from the previous year. All three previous acquisitions
carried out during that financial year have been fully integrated and are
earnings-enhancing.

Sales in the first 3 full weeks of the new trading year are in line with the
Board's expectations showing strong overall growth as well as being
significantly ahead of 2003/04 levels on a like for like basis.

Jeremy Hamer, Non-Executive Chairman, commented:-

"We are very pleased to have been able to show such a strong advance in our
business in the year to 30 June 2004 with increasing momentum developing as the
new financial year begins. This gives us confidence that we can look forward to
another good year.

The House of York asset purchase adds to our capabilities in terms of toffee
manufacture and gives us access to some interesting retail and export
customers."

[slj] 19/7/2004 10:09

The first bit of blue to appear on Level2 for ages - bid/offer 2 vs 1 @ 117p/118p. WINS just moved up to the bid. Price may have found support @ approx 2.18p mid-price, which was previous resistance on the P&F chart.

[slj] 17/6/2004 11:09

If GLI breaches 240p (mid-price), a sell signal will be generated if it hits 238p on the P&F chart.

[slj] 17/5/2004 11:56

'Sell' signal just been generated on the P&F chart after breach of a 'double-bottom' @ 262p :¬(

[slj] 12/5/2004 16:00

GLI seems to have found support at 261p (mid price), which is a 61.8% retracement of the previous rise from 242p to 292p and bounced from there. Just had a look at ADVFN's chart and RSI is oversold, uptick on fast stochastics, so it might be good from here on.

[badtime] 21/4/2004 17:01

Lovely rise today

[badtime] 16/4/2004 20:05

ooooo..so glad i got back in earlier

[slj] 16/4/2004 17:38

A nice little 15.5% rise since I suggested it might be a good time to get in again a week ago (4 trading days really, because of bank holidays) - price now 278p/280p.

From a Point & Figure charting point of view, there was a buy signal at 246p from a 3-box reversal after a 'Long Tail Down'. Next 'buy' signal will be generated if it hits 292p.

An excellent chart analysis was made on GLI by 'fingers xxd' on the 'BUK2' thread on the 10th April 2004, if anybody's interested. Here's the link:

[boadicea] 08/4/2004 18:40

I suspect the financial year end was largely responsible for (or at least aggravated) the recent volatility.

[slj] 08/4/2004 09:26

Retracement over? Maybe a good time to get in again - price 240p/243p. Chart indicators all at bottom and turning up.

[badtime] 07/4/2004 08:56

Just generally positive..although perhaps a little surprised about the steep increase recently...but certainly nothing negative....with have some sort of retrace here...which i thought was inevitable..hence my sale earlier..however 275 was placing price..,,,the institutions who took that must have had some confidence

[hughlss] 06/4/2004 22:41

badtime - did derek pain have much to say in the indie the other day?

[badtime] 06/4/2004 17:25

ouch..nasty fall..dipped me toe back in at 250...still its me sipp so not too bothered and only a 'toe'

[slj] 06/4/2004 11:48

I've been charting GLI via a Point & Figure chart and since its high of 294p (mid price), it's given 2 sell signals - one at 278p after a breach of
double-bottom, and the 2nd at 252p after giving up more than half of its total gain from previous rise from 214p-294p.

It will have retraced 61.8% (golden fib no) at 246p. After that, the next support is at 218p (previous resistance), but another sell signal would be given if it hits 210p.

[badtime] 03/4/2004 20:58

Mention in todays indie by derek pain...he had them in his potfolio at 114..always worth reading his comments

[badtime] 02/4/2004 11:46

I sold around 280....but looking to get back in soon as i can c that this drop is over

[hughlss] 02/4/2004 10:47

Yes badtime - still in. I sold a few to clear a bit of an overdraft, but will be buying back in before long. It's still my number one share in terms of my holding and my view of the company. How about you?

[badtime] 02/4/2004 08:27

Hugh u still in?

[slj] 30/3/2004 08:15

*GLISTEN TO RAISE 1.79 MLN STG VIA PLACING AT 275P

[hughlss] 13/3/2004 12:47

From the Telegraph today:



Join Glisten's Easter parade

If you've got a sweet tooth you're probably familiar with Glisten already,
even if the name doesn't ring any bells. The confectionery specialist makes
chocolate buttons, chocolate covered raisins and even the hundreds and
thousands sprinkled on ice creams.

For a little company, Glisten has a big appetite. Since floating on Aim in
June 2002, it has gobbled up acquisitions faster than you can say "yummy".

In the past six months alone, Sunya (chocolate buttons), Fravigar (wine
gums) and Penguin (jelly beans and boiled sweets) have been added to the
company's pick 'n' mix counter. And chairman Jeremy Hamer, who also chairs
up-and-coming cake-maker Inter Link, is "definitely looking for more".

The next step for Glisten, which started life in 1932 as a maker of edible
cake decorations, will be other niche markets. It makes popcorn, which
offers a different customer base to confectionery, supplying several of the
larger supermarkets as well as Pizza Hut.

The interim results this week showed 11pc growth in sales to £9.4m and
11.5pc rise in pre-tax profits to £950,000 - both records. The next big test
will be Easter, and the company is sounding bullish.

Glisten has yet to pay a dividend as it concentrates on expansion, but
promises one "in the medium term". The shares have had a fantastic run since
flotation - closing at 273.5p midweek against 95p last year.

Now on 19 times forecast earnings, the company may look a bit topping heavy
but if Mr Hamer's record at Inter Link is repeated there should be more to
come. Ignore the dentist and indulge your sweet tooth.

[hughlss] 10/3/2004 23:51

what's all this zzzzzzzzzzzzzzzzzz?
thought your name was badtime, not bedtime :-)
you're right tho' - nice share.

[badtime] 10/3/2004 19:51

zzzzzzzzzzzzzzzz..such a nice share

[puku] 10/3/2004 19:26

strong surge, will we top 300p ? ciytwire reckoned 350p by end of year. i sure hope so !