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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Mcbride Plc | MCB | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| -4.50 | -4.27% | 101.00 | 16:35:07 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 105.00 | 101.50 | 105.00 | 101.00 | 105.50 |
| Industry Sector |
|---|
| HOUSEHOLD GOODS & HOME CONSTRUCTION |
| Top Posts |
|---|
Posted at 09/4/2024 16:25 by nobull Darrin and Oldtimer, thanks for that info, and Paraguay for Phil Oakley's views - he knows the company very well - I remember reading a very long piece by him that must have been in Investors Chronicle when I first researched this company.Off topic. I cannot do interspousal transfers - too many unknowns! I will have to look into gifts into trust to roll over the CGT, making the gift long before its value reaches anywhere near the nil band threshold, and maybe hope I live 7 years after the gift. The object is to pass it on to someone who will make more with it rather than spend it on luxury cruises, etc. I was travelling on Friday, so missed the opportunity to bed and ISA, and anyway I did not think of that. Well done, Darrin. P.S. one of the best planning techniques, if it is relevant, is to be able to disinherit oneself by doing a deed of variation to change a will after someone has died. There is a two year time limit for the beneficiary of the will to do it: it avoids two lots of IHT being paid in quick succession on the same wealth. The effect is as if the deceased had made the variation to the will themselves, and it takes effect retrospectively from the deceased's date of death. |
Posted at 18/3/2024 15:56 by nobull Being no expert on these matters, I will have to listen to it a least three more times before I get the full significance of it all.For now, "cost leadership" means to me being the last to go out of business, being the lowest cost producer in the industry, and that means getting the lowest cost capital (whether equity or debt), which means having the fattest margins possible (in so far as the customers will allow - and I am under no illusions about their superior bargaining power and what they will allow MCB to make), which means creating more economic value added than competitors for the same sales volumes,all other things being equal, I wonder? Product compaction is another way to go to get lower logistics costs and more profit (less warehouse storage space and maybe lower transport costs to customers): you make the end consumer do the work of diluting the product to reach its normal bulk, right, and it also reduces the carbon footprint, important in this woke era. I liked the comparison valuation metrics with Greencore and Bakkavor, but I do not know if those other companies have a pension deficit like we do. The outcome of the triennial valuation shortly may be significant. I was really interested in how the new operating model is working (the Compass strategy?). It sounds like the tech experts have been up-skilled with financial expertise so that they can themselves negotiate business deals with customers without having to refer to the "higher up, non-tech people", and propose mutually beneficial solutions to customer problems (e.g. product or value engineering solutions), thus empowering the divisional managers, while giving the customers a much more engaged purchasing experience, all the while, for the top brass, maintaining greater accountability from the divisional managers. Yes, I get all that stuff about scale benefits from shared services (shared logistics and purchasing) I did not like everything - the 2% p.a. revenue growth target is too low, a target that maybe assumes volume growth will be zero. Some low-risk, infill acquisitions at a reasonable price are maybe needed, perhaps as and when the opportunities arise. John Hughes'(ex-Investors Chronicle) concerns about "low margin to no margin" have been shown to be a bit overblown: the company has learnt from the cost blow-out crisis: £250m annualised input price rises when you are only making £25m and you have customers intent on not paying a penny more must have been terrifying. I would guess they won't make that mistake again. I see no point in selling any shares, and with such a poxy CGT allowance what is the point? Jeremy, dear, you have forgotten the Laffer curve effect, and are making the UK economy sclerotic, where capital does not bother to move about finding the most profitable home, yet another measure to keep the UK in a permanent doom loop. I make this a hold at circa 98p, but WDIK? Nothing. AIMO. DYOR. |
Posted at 27/2/2024 20:21 by darrin1471 One of 2023’s best share price performers, private-label cleaning products maker McBride (MCB), has upgraded earnings guidance again as the cost-of-living squeeze continues to stoke demand for its affordable products, news that sent the stock up 16% to 85.2p in early dealings on Tuesday.Having reported a much-improved first-half performance with all divisions profitable, the budget laundry-detergent-to PRIVATE LABEL SHIFT PERSISTS A trusted supplier to Europe’s leading grocery retailers, McBride’s strong showing in the half to 31 December 2023 was underpinned by the ongoing shift away from expensive brands and towards cheaper private-label alternatives as consumers seek to save money and retailers look to reinforce their value propositions. McBride’s constant currency revenue rose 9.9% to £468 million in the half, reflecting price increases as well as healthy 10.1% private label volume growth, with the Manchester-headquart In its core strategic focus areas of Germany and laundry, McBride achieved pleasing volume growth of 10.5% and 9.8% respectively. FIRMLY BACK IN THE BLACK McBride also pleased investors with a swing from losses of £7.9 million to adjusted pre-tax profits of £22.4 million thanks to positive margin progress, as well as a £20.8 million decrease in net debt from £166.5 million at the prior year end to £145.7 million. While sales growth slowed in the final two months of the half, the outlook for the rest of the second half and the balance of the calendar year is positive and contract wins will begin to boost revenues from the first half of full year 2025. WHAT DID THE COMPANY SAY? Chief executive Chris Smith commented: ‘McBride has continued with its positive momentum in the first half of this financial year. It is pleasing to see all five divisions continuing to grow on a constant currency basis, supporting our customers with high-quality products to meet the consumer shift to private label.’ Smith added: ‘As we progress our transformation programme, with specific initiatives to enhance McBride’s capabilities and tools for the future, we remain focused on performance delivery today. This focus, together with our continued drive to reduce debt levels, will ensure McBride is well positioned to achieve further progress in the near and medium term and we look to the future with confidence.’ WHY BROKERS ARE BULLISH Investec, which has a ‘buy’ rating and a 112p price target for the stock, said the company ‘continues to make reassuring progress and expects the favourable trends for private label products in its categories to continue throughout calendar 2024. It now expects full year 2024 operating profit to be 10% to 15% above its previous expectations. We upgrade by 17% for full year 2024 and by 8% for subsequent years.’ Peel Hunt (PEEL:AIM) upgraded its full year 2024 pre-tax profit forecast from £40 million to £46 million and highlighted McBride’s ‘improving operational performance, which is translating into strong free cash flow. We upgrade our target price from 108p to 120p to reflect the higher profit outlook.’ |
Posted at 12/2/2024 07:53 by darrin1471 A Capital Markets Day for investors and analysts at 11:00am on Wednesday, 13 March 2024.The event will feature presentations from CEO Chris Smith, CFO Mark Strickland and other senior leaders. The event will provide further detail and insights into the Company's strategy and divisional performance together with a focus on its Transformation Agenda. A recording of the event will be available on the McBride plc website shortly after the event. |
Posted at 11/12/2023 10:42 by she-ra darrin did you see the rise investors in Hotel Chocolat woke up to find one morning when the takeover was announced? |
Posted at 29/11/2023 13:46 by nobull Darrin, well I'm not selling! The forward multiple is too low by historic standards, although not for our current risk rating, a risk rating that should drop as net debt does.This is a business, according to people wiser than me, that is all about cost control and finding ways to do things more efficiently. Again, according to people wiser than me, there is a trade-off between volumes and price to some extent, but given our customers are financially stronger, the way to go is to prioritise volumes at the expense of margin, all to have the factories a hive of activity and to maximise capacity utilisation, for that would presumably please both customers and shareholders, I wonder? The thing one maybe should hope for is possibly an early exit from the financing agreement as net debt really starts to fall by the time of the September covenant test, particularly if capex is not a great deal, which I don't think it will be, e.g. if it is a bit less than the depreciation charge. An early exit would enable investors to start thinking about dividends again, I wonder, but maybe not until 2025, and then only a token one, perhaps, but it would be a start. Before the AGM trading update, the consensus broker target was 72p, I think, but Yahoo finance now has a 1 year target of 86p, not that one should take these things too seriously. AIMO. DYOR. |
Posted at 08/11/2023 14:47 by hpcg Big move again today. I have had some spread bets on but added to those and have started buying shares. It is going to be a slow grind up mostly, as stale bulls get out at break even and those with cheap positions "manage" those. Both are mistaken approaches IMO. This is the same deleveraging story as my big winner of the last couple of years, GMS. It doesn't matter about being "late", even if one has a target of 80p that is still 60% up from here. You are still going to be early compared with investors moving their money out of the stock market and into money markets. These will be the people you can sell your shares to at a later date. I know Darrin has said this, but share count is actually lower than 3 years ago. |
Posted at 29/9/2022 09:06 by darrin1471 hpcg. At 7:59 I would have swapped my long for your short. Now I am happy to stick with my long. I know MCB is illiquid but no trades on delayed results is all uncharted grounds for me.Hoping big investors have been kept up to date and that is why the waters are calm this morning. |
Posted at 09/8/2022 09:18 by blackhorse23 Jak you are trolling all boards before buying any stocks ...end of day u buy high price, once bought then go quite .. investors don't need any explanation from trolls & they can read RNS ... same thing u have done cine ... trolling few weeks & now quite there because u bought lol ... now u have interested here to BUY ... so wasting time trolling if can buy cheaper but bet u will pay higher prices in here like other stocks |
Posted at 20/7/2022 10:55 by cjohn These came up on a filter I run for distressed companies trading at a discount to NTAV.The debt and pension deficit mean there's a high chance of a large and discounted equity issue/ or debt for equity swap. The chances they merely trade their way out of debt are very low indeed. So no point new investors going in now. |
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