Macfarlane Share Discussion Threads

[hvs] 02/3/2010 12:20

Thank you Aleman.

It looks good here. Nice divi to boot.

[aleman] 02/3/2010 11:55

MACF Forecasts
Year Ending Revenue (£m) Pre-tax (£m) EPS P/E PEG EPS Grth. Div Yield
31-Dec-09 123.50 3.30 2.30p 8.4 n/a -10% 1.50p 7.7%
31-Dec-10 128.40 3.70 2.40p 8.0 1.8 +4% 1.80p 9.2%
31-Dec-11 134.60 5.30 3.50p 5.5 0.1 +46% 2.00p 10.3%

[hvs] 02/3/2010 11:44

cs44,

Forecast earning for 2010 is 3.2p with a 1.8p divi.

[chrisdgb] 02/3/2010 11:42

I have a great deal of respect for Rights & Issues and have been picking up stock more after their disclosure....

Smells like a classic recovery stock..

[cs44] 24/2/2010 13:23

The Rights and Issues I.T. has made a very shrewd purchase, in my opinion, of their total stake at a price close to 18p. If they have replicated this sort of tactical policy in buying stakes in some of their other holdings they could be a I.T. to watch.
The earnings for MACF have been well flagged at about 2.3p for 2009, the prospects for 2010 announced next Wednesday will determine whether we can break out of low range bound share price we have experienced over the past few years.

[cwa1] 24/2/2010 12:41

Yes, spotted that but saw the second one first!

That's a hefty stake that they've got now. Any thoughts as to what kind of a holder they might be? Aggresive/passive?

[aleman] 24/2/2010 12:37

Try th eprevious RNS!

[cwa1] 24/2/2010 12:34

Looks as if Edinburgh partners are out:-



Wonder who got them? Discretionary Unit Fund?

[aleman] 22/2/2010 11:55

Rising gilt yields should be helping pensions' deficits.

[cwa1] 22/2/2010 11:34

Morning All

Just picked up 30000 at 18.25. Had my eyes on this for a while now and thought it had dropped off far enough to be worth a punt. Surprised at how quickly the order was filled-so perhaps a bit of stock about?

Good luck to all holders.

[hvs] 21/2/2010 17:11

Hi9 Aleman,

Like you I cannot understand it either. Suppose its just lack of interest in small caps.

MACF doing the right things and I think imminent results will be good.

[aleman] 18/2/2010 15:31

Still getting good trading updates in manufacturing. Surprised these are drifting with results soon. Rising shares and bond yields should be good for the pension deficit.

[hvs] 06/2/2010 11:11

Oriel Securities have just issued a note.

They say ADD and expect divi of 1.8p

[aleman] 01/2/2010 17:19

Eurozone manufacturing PMI exceeds expectations:

[aleman] 01/2/2010 15:05

More good news from MACF customers:

LONDON (MNI) - Activity in the UK manufacturing sector recovered more rapidly than expected at the start of this year, according to the latest Chartered Institute of Purchasing and Supply survey.

The headline PMI manufacturing index climbed to 56.7 last month, compared with a median forecast for 54.0. This was the highest level reached since October 1994, CIPS stated.

CIPS also said that growth of output was rising at the fastest rate in 43 months while new orders are seeing their fastest growth in six years."

New export orders hit a series high and the employment component of the survey rose slightly for first time since April 2008.

Commenting on the findings, on the report, David Noble, Chief Executive Officer at the Chartered Institute of Purchasing & Supply, said:

"This is very positive news and a great way to start the year. Although the manufacturing sector represents a smaller proportion of total UK GDP than 10 or 20 years ago, it is still a very important part of the economy. It is therefore encouraging to see such strong growth and it suggests we are coming out of recession much quicker than previously feared.

"One of the most encouraging aspects of this month's PMI is the turnaround on the jobs front. For the first time in 21 months there has been an increase in employment, albeit only a slight one. Employment is usually a lagging indicator so it suggests that firms are becoming much more confident about the future".

[aleman] 25/1/2010 11:01

The FT-SE 100 swings about with big international banks and miners but MACF supplies UK manufacturing mostly (hence the post 488 above). More confirmation that the rest of the UK seems to be picking up:

Business Financial Newswire
The number of quoted companies issuing profits warnings has shown a marked improvement during the last quarter of 2009.

Ernst & Young says there were just 50 profit warnings from quoted UK companies during the last quarter of 2009, compared to 126 in 2008, a year on year fall of 60%.

Andrew Wollaston, Restructuring partner at Ernst & Young says: "Given the depth of the slump, recovery has certainly come quicker than we might have anticipated. This rapid economic recuperation, along with previously depressed earnings forecasts, is helping companies beat expectations and keep profit warnings low. Good news for UK plc, but this is not the end of the story. Rapid recovery costs and 2010 is when we start paying. Brace yourselves for a bumpy recovery."

Ernst & Young says that the start of 2010 has seen relatively few profit warnings. The usual flurry of post-Christmas retail profit alerts have not arrived, with just eight warnings for all sectors in the first two weeks of 2010 versus 16 in the same period of 2009.

However, Keith Mcgregor of Ernst & Young observes: "It will be harder for companies to beat expectations in the months ahead. If expectations become buoyed by optimism too quickly and outstrip an economy that is recovering slowly and prone to relapse, we could see a further negative imbalance and an increase in profit warnings later in 2010.

"How many will depend on the ability of UK plc to manage market expectations and its own internal forecasts during another tricky year."



Story provided by Business Financial Newswire

[cs44] 25/1/2010 10:20

Edinburgh Partners have made a large loss on the sale of their stake; they, Edinburgh Partners, were, I believe, taken over last year and I suppose this sale is part of some rationalisation by the new owners.
The brokers' consensus for 2009 is 2.3p and, as MACF tend to give a realistic steer to the market, I expect we will see this sort of number in the March results. We should see a bit of positive share price movement towards March.

[aleman] 21/1/2010 13:19

UK manufacturing production rose for the first time in 2 years, according to figures released by the CBI.

Of the 461 manufacturers surveyed, 31% said output rose during the three-month period, while 20% said it fell. The resulting balance of +11% is the strongest figure since January 2007 (+19%).

Export orders rose for the first time since January 2008, boosted by the relative weakness of Sterling and improving global demand. 30% of firms said exports grew during the quarter, while 24% reported a fall, giving a balance of +6%.

Exports are expected to grow more strongly in the next quarter (+13%), and firms are the most optimistic about export prospects for the coming year (+19%), since July 1995 (+21%).

Firms are continuing to de-stock, but at a slower rate, which also helped lift output. A balance of -11% indicated that stocks of finished goods fell in the quarter, compared to a balance of -29% in the October survey.

Domestic demand, however, was weaker than expected with 18% of manufacturers reporting a rise, and 26% a fall, giving a rounded balance of -9%. That compared with a balance of -16% in October. Total new orders were broadly unchanged (+1%).

Ian McCafferty, the CBIs Chief Economic Adviser, says: "After nearly two full years of falling output, manufacturers are seeing a return to modest growth, thanks in part to improved overseas demand and much slower stock reductions.

"It is encouraging that the weaker pound is now providing firms with some respite as global demand improves. Exports are rising for the first time in two years, as UK-made goods are looking more attractive in overseas markets. Manufacturers are also feeling upbeat about export prospects for the year ahead.

"However, the manufacturing sector is not out of the woods. With domestic demand still weak, and credit remaining constrained for some companies, firms expect growth to be more modest in the next quarter.

"This underlines our view that the UKs economic recovery will be slow and protracted.

[hvs] 23/12/2009 12:57

Looks like they are doing very well.

They said second half looks very good.

Nice divi to come.

[aleman] 23/12/2009 11:45

With 20k customers, I suspect MACF supply every sector.

[tullynessle] 23/12/2009 10:03

I know that MACF have a number of packaging services including their industrial services sector.

However is MACF geared towards the increase in online shopping and the packaging requirements of that industry?

I don't do much online shopping however the rest of the family are fairly active - it appears that every delivery is very well packed.

[aleman] 22/12/2009 20:22

Probably just following the market back up. I had a couple of UK manufacturing tiddlers report recently and their recent trade was showing signs of picking up. I didn't understand why these fell after the results anyway. I was considering topping up myself with a bit of loose change but didn't know what I would have available until after Christmas. Could be lots of other PIs in a similar boat that have finished their Xmas spend and can now top up again as there is still no sign of the suggested double dip recession yet and policy remains loose.

[hvs] 22/12/2009 16:35

Good showing today.

Anyone heard any news ?

[le frog] 16/12/2009 09:51

I believe they are in a consulation period with members re the pension fund options in order to could reduce the liability

[cs44] 03/12/2009 09:32

If Edinburgh Partners want to to exit their stake then the share price could be under pressure for some time. Of course, this could present a timely opportunity for those wanting to get in at a seemingly attractive valuation.