Plant Health Care Share Discussion Threads

[cerrito] 13/5/2024 22:03

I see, once again no surprise ,that trading activity on Thursday and Friday last week very active by PHC standards although not as active as Wednesday..but still active enough for people to exit. Activity today better than Friday.
Perhaps people put off by comments on need for more working capital finance not surprising given the cash burn of us1.7m in the first 4 months(facturing in the receivables payment) in the context of cash at us2.3m at end April.
I have been trying to figure out what is the main user of working capital.. At first glance you could say it is payables. At 12.21 and 12.22 trade payable were us1.3m and us1.6m way below inventories which were us2 1m and us 3.4m but the problem with that is that raw material inventories were low, there is no work in progress and the vast bulk are finished goods. Of course we are only told trade payables on one day a year and the business has moved on.
Total receivables in H1 23 were just under 90 days but 101 days  in H122 and about 55 days in H2 22. Difficult to get a steer as they move around so much.
I am perplexed by the us1.5m receivable paid in January given that total receivables at June 30 were us2.5m.
It would not have been from Wilbur Ellis and Nutrien who are far too big to mess around with a to them very small figure and presumably given that Saori sales are made mid year there would have been no receivables outstanding from Nutrien.I can only assume it is tied to Brazil sugar cane sales but even that figure seems v large.
I hope that in the IMC we can go into the working capital cycle.

[cerrito] 13/5/2024 08:38

All rather big picture but still good to read this in the May 8 quarterly earnings statement from Nutrien the Sairi distributor
Quote
• Brazilian growers are finalizing their soybean harvest, and favorable weather conditions resulted in safrinha corn planted area exceeding initial expectations. Soybean margins are expected to improve from the compressed levels in 2023 and support growth in planted acreage and crop input demand in the second half of 2024
Unquote

[pretax2] 10/5/2024 18:16

So you decided to sell a bullish breakout .... and buy a downtrend in a company that's struggling to publish results amid the sudden departure of the CEO and year-on-year net income decline.
Oh well, at least there's the dividend ..... until there isn't.

I suppose it's a random walk so good luck to you.

[blackhorse23] 10/5/2024 11:06

Money moved to APH

[slicethepie] 09/5/2024 11:14

Our mm should go back to dads veg stall, 20% spread is not mm

[cerrito] 09/5/2024 09:30

No surprise that the volume of shares traded yesterday was broadly in line with the total traded in April and more than that traded in February.
Let's hope that this increased volume is allowing all those who want to exit to do so.

[pretax2] 08/5/2024 18:19

This is just the start. Wait until they start selling in China (distribution deal in place), India and the EU; as well as N & S America. We're just getting going here.
As CR says, he wants a "PHC product on every field".

[geraldus] 08/5/2024 17:19

I'm sure there is plenty of mileage here.

[sidam] 08/5/2024 14:16

And chart looks interesting. Upwards break after 4 months going sideways.

[sidam] 08/5/2024 14:14

I have doubled up my holding. Hope that was wise!

[cerrito] 08/5/2024 12:17

Good for them keeping gross margin stable.
I ask myself why the delay in getting the audited figures out...not a complicated business.
I ask myself why not using Nutrien to distribute Teikko and at what stage on the soya crop cycle it is applied

[pretax2] 08/5/2024 10:51

TO bid coming next?

[kaos3] 08/5/2024 08:12

I did not like selective dates and data used at the beginning. 22,23,24 all around
And

LBITDA in 2023 improved 32% to $2.8m (2022: $3.5m), with further improvement expected during 2024.

All that put some fog on my phc shares

[sidam] 08/5/2024 07:57

If Cavendish numbers were proved correct, then the shares are on a 4per for next year to December 2025. Given the projected growth rate the shares could easily be in the high teens within 18 months. I really hope so!

[cerrito] 08/5/2024 07:54

While of course very difficult to make too much of a comparison with FMC, I see that on Monday FMC reported a first quarter volume decline of 27pc due to destocking,especially in US.
I see that Cavendish have lowered their sales and ebitda guidance for 2024 based on delays in registration and lower 2023 sales.
I was surprised at the equity raise last summer( and it seems I was wrong to be surprised) and am hopeful that they have matured so they can get the necessary working capital finance.
.
Big picture of course is a good news story.

[pretax2] 08/5/2024 07:54

We hit a bump in the road in 2023.
Tweedy has the wheel and bringing the company back on track.
Growth looks good into 2025; reduced risk of dilution; cash burn coming down and profitability a little closer.
I’ll ‘probably̵7; sleep a little easier tonight.

[geraldus] 08/5/2024 07:05

That update reads very well.This deserves a good bounce.Gla.

[spangle111] 06/5/2024 20:28

Yes would be good to know where we are at. The future is very promising but where is the baseline.

[geraldus] 29/4/2024 09:38

Need some definitive news here.Havn't had a trading statement or notice of results RNS either as in previous years.The numbers aren't going to be pretty but hope the outlook is better together with the cash situation.Gla.

[kaos3] 24/4/2024 08:13

imho they are in both as they are the same at the end. immune healthy

[cerrito] 24/4/2024 07:42

Croda report Q1 crop protection sales down from a very strong Q1 in 2023 and flat on Q4 2023.
Have to say never sure if PHC see themselves in crop enhancement or crop protection.

[pretax2] 22/4/2024 12:51

I agree with comments above. Some excellent sounding news with limited detail. Time for an investor meet company session and a trading update.

[slicethepie] 22/4/2024 11:07

They need to get a market maker, 15% spread is lazy

[robsy2] 22/4/2024 10:34

Pretty much where i am Kaos. I am waiting for Company and house broker to enlighten us.