Share Name Share Symbol Market Type Share ISIN Share Description
Mpac Group LSE:MPAC London Ordinary Share GB0005991111 ORD 25P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +1.50p +1.12% 135.50p 133.00p 138.00p 137.50p 134.00p 134.00p 17,156 10:41:16
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Industrial Engineering 53.4 4.3 8.4 16.1 27.33

Mpac Group Share Discussion Threads

Showing 126 to 150 of 150 messages
Chat Pages: 6  5  4  3  2  1
DateSubjectAuthorDiscuss
30/7/2018
12:23
As per my earlier posts, which were ridiculed at the time but are of course turning out to be on the ball; I was told clearly tobacco always propped up the other business (food packaging and MTECH). Tobacco was always blamed for everything as its easy to blame tobacco, nobody questions anything if you say its tobacco so bad. Everything was dumped on tobacco to make it look worse so the other businesses looked better. Creative :) But tobacco was high tech high margin. Remove tobacco and you are left with very low margin low tech food packaging, which very easily loses money due to overruns as projects not completed on time or to customer satisfaction and also an MTECH business which only makes money every so often when doing repeat orders, if they do first of a kind they lose money like no tomorrow. So now you have two business which can both burn through cash. And forecasts now suggesting bigger reductions in cash. What does it tell you? It tells you the two business left no longer have tobacco to subsidize them and they are being caught with their pants down as the tide goes out.
pro_s2009
27/7/2018
09:22
some but little support at that level. other than that 75-80p
tsmith2
26/7/2018
15:25
just had a read of equity developments latest note - not sure why they see cash falling so much this year (circ 5.5m yes pension payments, but assuming still profitable not sure where they see the rest going....any views?
jay083
24/7/2018
10:50
Evil Knievel has said last week he has added at 144P. He said it is an asset play with a break up value of over 200P. Simon Thompson said that investors had over reacted to the news and that it was a buy at 140P. I am staying in. What did disappoint me is that they used Brexit as an excuse and I did not think that was very convincing. I think the business they are in should be reasonably recession proof.
richjp
23/7/2018
13:34
Another leg down to 105-110 on chart..
tsmith2
20/7/2018
17:25
I bought these after reading tip at IC Simon Thompson now nursing a 25% loss sold as now hit my stop loss so now into games workshop and computacenter
red5
20/7/2018
11:23
A tale of 2 pension funds…with trading companies attached. Investor’s Champion’s new Blog on contrasting announcements this week from 2 of AIM’s senior citizens, both of which are burdened by huge pension obligations. We comment on a hopefully brighter future for 600 Group and more struggles for Mpac.
investorschampion
19/7/2018
14:01
taken 10k out at 151. Need to reduce my exposure here. Tiger
castleford tiger
19/7/2018
12:11
Should get back to 160 as a lot of resistance there
red army
19/7/2018
09:57
Good call SSR10! SBT
superbobtaylor
18/7/2018
23:12
The share price hit a brick wall at 35, I reckon we may see a bounce back tomorrow!
superslickrick10
18/7/2018
22:45
?! Haven't got time to argue with this nonsense
davr0s
18/7/2018
22:06
DavR0s, of course it was.
eastbourne1982
18/7/2018
17:12
Mpac is a low margin, lumpy business at best, as today's trading statement demonstrates. It has legacy issues, especially the pension, which will absorb cash for years. Expect to see the £29m cash pile substantially diminished at the half year results, and for this to continue. Mpac has to generate £3m + p/a just to cover the pension. A big ask! A value trap.
wiltshire sage
18/7/2018
13:15
Nope - I trade for a living. 50% of my trades are losers (mostly small ones)I bought these at 150 area and sold just below 200 when trend broke - so this one was a winner
davr0s
18/7/2018
11:27
As I said in post 77. Food packaging is very low margin and ultra competitive. It easy to win lots of projects and grow revenue but its not easy to deliver them on time and install on time. Are the sales people selling profitable projects or are they just selling lots of low margin projects to bump up revenue. Given the low margin and that all the good people left before MPAC came into being, you are left with lots of low margin revenue that cannot be installed profitably and so makes massive losses due to many cost overruns. The worry would be that this will continue to a 2nd and 3rd profit warning and suddenly a big lump of the cash has been lost.
pro_s2009
18/7/2018
11:25
Simon Cawkwell. On what basis do you say that? This is useful to understand a little about why these pension fund valuations are so very different... www.frc.org.uk/getattachment/538ec144-05a0-499c-99b4-3f93bd21ad0b/091117-Pension-Disclosures-CRR-thematic-review.pdf From John Lewis "The actuarial valuation deficit of £479m is used to judge the money we need to put into the pension scheme" Well that actuarial deficit is £70m at MPAC (for the UK fund). If MPAC put that valuation into the balance sheet instead of the IAS19 valuation (I believe they have a choice?) then MPAC would be balance sheet insolvent, no? I think you need to flesh out your opinion of why all is OK....as I said for the time being the current biz profits looks like they won't be able to fund agreed contributions and MPAC will have to dip into the cash pile... I don't believe anyone is smart enough to know how these pension deficits will pan out but it looks very dangerous to me to take a "don't worry about it" approach...
eezymunny
18/7/2018
11:15
EM, I very much doubt that the pension deficit is anything like as serious as you fear. Indeed, my bet is that there'll be a £15m surplus. SC
simon cawkwell
18/7/2018
10:22
DavR0s, You are always out before a profit warning. Are you a fantasy investor ?
eastbourne1982
18/7/2018
09:54
If you use the actuarial valuation for the massive pension fund net assets go negative. Hardly an "asset situation". It seems current business barely able, or unable, to fund agreed pension deficit contributions. Saying 150p is "far too low" may well be "far too optimistic". The pension fund may render MPAC worthless IMO. Only time will tell ("Valuations are extremely sensitive to a number of factors outside the control of the Group"). "The UK scheme was subject to a formal triennial actuarial valuation as at 30 June 2015, which completed on 1 August 2017. The funding valuation of the Group's UK defined benefit scheme showed a funding level of 83% of liabilities, which represented a deficit of £70.0m (30 June 2012: £53.0m) with an estimated recovery period of 14 years from 30 June 2015. The assumptions underlying the assessment of the liabilities reflected the goal of the Trustees and Company to de-risk the Fund. The solvency position of the scheme at that date, which reflects the scheme's position if it was wound up, showed a funding level of 67%. Valuations are extremely sensitive to a number of factors outside the control of the Group, including discount rates. The level of deficit funding is currently £1.8m per annum, increasing by 2.1% per annum with an estimated recovery period of 14 years from 30 June 2015
eezymunny
18/7/2018
09:31
Simon Whilst I agree they have to utilise that cash in a profitable way. Tiger
castleford tiger
18/7/2018
08:56
Simon Thompson will get crucified today. The IC's already started removing yesterday's 'selling' remarks in the comments section beneath Thompson's article. We all, at times, get our calls wrong but for the IC to edit (read remove) the comments section beneath their articles isn't cricket
gersemi
18/7/2018
08:51
Given that MPAC is an asset situation 150p is far too low. I paid 144p.
simon cawkwell
18/7/2018
08:49
Tbf shares mag said take profits (c.50%) in may. ST tipping yesterday was not good timing.....Miss is big and the fact that they have missed by 50% but not bothered to update the market or lower broker expectations until a few weeks after the period end shows complete lack of financial control.
otemple3
18/7/2018
08:35
Yeah looks like the ex chairman and FD did see it coming. It's been ramped by Simon Thompson, shares mag, Melor and all the value investors in recent weeks which is never a good signal in my experience
davr0s
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