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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Pgi Grp | LSE:PGI | London | Ordinary Share | GB0006911696 | ORD 25P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 8.75 | - | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
Date | Subject | Author | Discuss |
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27/3/2009 18:41 | Thanks for the update Bert. Sad really. | 4johnb | |
27/3/2009 11:49 | The cut rose business in Zambia collapses. PGI's Khal Amazi Ltd in Zambia exports sweetheart roses to europe. From 2007 annual report: "Cut Flowers Our Zambian business, Khal Amazi Ltd produced 131 million stems, a 26% increase.This volume growth came from both the new greenhouses we have erected at the Kapwelyomba site and the benefits of the Sunrose acquisition we made in 2006.All our production is the smaller headed roses which are sold across a wide range of northern European supermarkets. Our airfreight forwarding company increased its market share for perishables from Zambia and we expect this to grow further this year." Cut flowers contrubuted 39% to the 2007 financial results. The cut rose business has collapsed according to the artile below. That doesn't spell good news for the 2008 annual results. Article below from bbcnews website: Wilting flower exports hit Zambia By Steve Schifferes Economics reporter, BBC News, Lusaka, Zambia Watze and Angelique Elsinga grow roses for export On the outskirts of Lusaka, Angelique and Watze Elsinga have been growing roses for export for the last 14 years. But now the speed of the global downturn is forcing them to give up the business, threatening the livelihoods of hundreds of workers and their dependents. The sudden collapse of the prices paid for roses in Europe, due to diminishing demand and oversupply, has made their business uneconomic. And they are being forced to sell their farm as they can no longer keep up their loan payments to Barclays Bank, which is demanding immediate repayment. "It's a sad day," says Angelique Elsinga as she walks round her farm with its eight giant greenhouses - which produced 40 million roses for export last year. "It's cheaper for us to destroy the roses now than send them to Europe." They are shutting off the irrigation pipes in seven of those greenhouses, growing only for the local market and switching some of their production to vegetables. The demand for roses - and the price - normally peaks at Christmas and Valentine's Day. But this year was very different. "We had to shut down production during the two weeks before Christmas, something we had never done before," said Watze Elsinga. "And just before Valentine's Day, our suppliers told us not to send any more roses - their warehouses were full." "We have never seen such low prices." Sudden collapse Abandoned greenhouses mark the collapse of the flower export market Yet just six months before, their business had seemed secure when they signed a long-term supply deal with a leading Dutch wholesaler, Blooms. But in October, the company suddenly told them it was terminating the contract because of falling demand. It was the first sign of the sharp slowdown that has gathered pace ever since. "We have been surprised that this crisis has happened so fast," said Mr Elsinga. "As growers, we cannot control either the prices we are paid, the exchange rate, or many of our external costs, even though we have managed to keep our own costs under control." Social gains CRUNCH TIME FOR AFRICA World leaders will meet next month in London to discuss measures to tackle the downturn. See our in-depth guide to the G20 summit. Only one African country will be represented at summit. This week BBC World News and World Service Radio will be examining how Africa is coping with the crisis, with our blog and reports from the continent Africa faces chill winds For the Elsingas, who came to Zambia from the Netherlands 14 years ago, the farm was a social enterprise as well as a business. They have constructed housing for their workers, and built a community centre and a school for 600 children on the premises. And they have provided year-round employment for nearly 200 workers. Now they will have to lay off all the workers at the rose farm, with only a few finding employment in the vegetable business which they hope to continue at another location. Difficult conditions According to Luke Mbewe, chief executive of the Zambia Export Growers Association (Zega), flower exporters in Zambia face more difficult conditions than their rivals in other African countries such as Kenya, Tanzania, and Uganda. Flower exporters are dependent on a secure supply chain, with the fresh flowers kept refrigerated and disease-free as they are moved quickly from the farm to markets in Europe within 48 hours. But in Zambia, transport costs are higher, because of the higher cost of petrol and jet fuel that has to be imported into this land-locked country. And the lack of a substantial scheduled air freight service has meant that they have had to charter flights to take their flowers to market. They have also faced problems with electricity supply, with Zambia's government-owned electricity company Zesco introducing rolling power cuts throughout the country over the past year. The sharp drop in the value of the Zambian currency has raised the cost of fertilisers, fuel and other farm inputs. Mr Mbewe says he knows of a number of other farms that have gone out of production, and he now fears for the future of the industry. Economic hopes President Rupiah Banda wants to encourage economic diversification Zambia remains one of the world's poorest countries, with more than 60% of the population living on less than $2 a day. Now its prospects for economic growth have been dented by the decline in the world price of copper, which makes up 90% of the country's exports and provides thousands of jobs. Zambia's President, Rupiah Banda, says that the way for Zambia to cope with the global recession is by diversification, moving away from dependence on copper. But the problems of the flower industry show how difficult this could be. To become competitive, Zambia's flower growers will need more, not less aid to improve infrastructure - either from the government or outside sources. But it is still unclear whether any global measures to cope with the downturn, to be discussed at the G20 summit of world leaders in London in April, will reach the flower growers of Zambia in time. Happy Valentine's Day ENVIRO-FLOR ROSE EXPORTERS 40m roses exported per year 7 hectares of greenhouses 189 workers employed Total Zambia rose exports: 4,200 tonnes worth $40m in 2008 Total employment: 12,000 | bert589 | |
19/3/2009 09:59 | An RNS only needs to be issued upon the conclusion of the transactions i believe. Still work in progress :-) | eriktherock | |
19/3/2009 09:52 | Erik, the thing that is confusing here is that there are no announcements regarding director or major shareholder purchases. Obviously, and by definition, every sale requires a purchase, but I am hoping that this volume will soon be revealed to have been insider purchases. | 4johnb | |
18/3/2009 15:58 | Another million shares changing hands today. transfer of wealth an 'ol | eriktherock | |
18/3/2009 10:39 | Good post 4Johnb. Results within the next three weeks should provide some amplification. Things change of course. Steve Wayne's departure timed as it was with the stockmarket crash has made the share price look pretty sad. However the Business is profitable, pretty much debt-free will be paying a small divi again. Not too shabby :-) | eriktherock | |
17/3/2009 14:30 | All stock being mopped-up. Funny when a shop has a sale, punters pour in and buy-up stock. PGI shares are on sale and the Company/Directors are the takers with punters nowhere to be seen. | eriktherock | |
17/3/2009 13:10 | Last 5 trades Time/Date Price Volume Trade value Type 16:48:35 16-Mar-2009 8.25 1,000,000 82,500.00 Ordinary Trade 16:48:15 16-Mar-2009 8.25 689,500 56,883.75 Ordinary Trade 14:47:32 16-Mar-2009 8.00 79,612 6,368.96 Ordinary Trade 15:40:43 04-Mar-2009 8.00 5,000 400.00 Negotiated Trade 09:29:35 03-Mar-2009 8.00 5,000 400.00 Negotiated Trade a lot of shares traded yesterday. | bert589 | |
06/3/2009 17:44 | Trillions of Zimbabwean Dollars, worth about 9p each! | donaferentes | |
06/3/2009 17:14 | What currency is the food group revenue in? | bert589 | |
21/2/2009 10:10 | With all the recent director purchases, I am confident that something must be in the pipe. I don't think that Roditi would throw his money on a dead horse. In all cases, I bought this one in a long term view so I am happy to hold. I just wished that I had some spare cash to average it down a bit :/ | lcoumetou | |
20/2/2009 20:37 | quite a few shares changing hands - 100 000 shares today | bert589 | |
19/2/2009 10:15 | The shareprice maybe a train wreck but the Business isn't. I expect there to be a divi to reflect continuing profitability. We'll see at the end of March. | eriktherock | |
15/2/2009 20:40 | Its just very depressing that roditi has screwed up so badly on this one. He ought to be remembered for a stellar track record. Instead, he will be remembered for this train wreck. | 4johnb | |
15/2/2009 13:36 | YOU LOOKING FOR A DIVI ???? | hvs | |
14/2/2009 09:02 | Still watching, but will await the results. Dividend very low. | topvest | |
13/2/2009 13:15 | No worries here. Buy and hold a bargain at these prices. | hvs | |
27/1/2009 10:07 | I notice that long dated coffee futures along with softs generally are picking-up, maybe in anticipation of the terminal inflation :-) PGI well placed of course. Remember, less than 5% T/O from Zim. | eriktherock | |
27/1/2009 09:58 | Dona, the three market makers have had to absorb nearly all the selling over the past couple of months. They don't want to hold such a quantity. Hence the mop-up at a bottom price (the Bid). | eriktherock | |
27/1/2009 09:51 | Have now done so - apologies. 2,220 shares @ 7p. Not a great many, but how come they can buy at such a good price? | donaferentes | |
27/1/2009 08:41 | Read the full RNS Dona. I'd say that the Directors have mopped-up. | eriktherock | |
27/1/2009 08:08 | By Mr Roditi to be exact. 0.48% added to make 67% total holding. Significant or a bit of tidying? | donaferentes | |
26/1/2009 17:22 | Yes, 2.2 million shares @ 7p. Bottom ? | eriktherock | |
26/1/2009 17:11 | a lot of shares were bought by the directors today 2,220,000 at 7 pence | bert589 |
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