Produce Share Discussion Threads

[metier9] 29/1/2015 13:29

The jersey income doesn't come until H1 2015 i think?

[mach100] 29/1/2015 10:44

Dreadful update. I feel I have been skinned. What is most disappointing for me is that the acquisition was supposed to be immediately earnings enhancing and a springboard to enhanced profitability. I always find the way these RNS's are scripted with 'good' news loaded towards the end a bit hollow.I think I will also hold for now after giving myself a good kicking for not chipping sooner.The share price trajectory and falling potato prices were indicative of a blighted investment.

[battlebus2] 29/1/2015 07:34

Disappointing update this morn but not totally unexpected, management will have to show their metal to return to stability, I believe they are up to the task so intend to hold.

[stegrego] 29/1/2015 07:34

Sorry to say, but as suggested on the Zulu thread, you can't make a sound investment in something that is weather dependant.

[mach100] 14/1/2015 14:35

I am getting skinned by this one and it is blighting my portfolio. I think potato prices have come under pressure since 2013 but hopefully it won't eat too much into the bottom line. I am surprised it has fallen so far as the acquisition was supposed to be earnings enhancing from day one. Unfortunately in the absenec of new there is no real floor.

[metier9] 13/1/2015 13:09

Need some kind of update as people are forgetting about the share.

[battlebus2] 13/1/2015 11:35

Still being sold down, not sure it's justified but we all know the food industry is under pressure at present, my add again as hopefully the yield is safe.

[battlebus2] 05/1/2015 16:41

Not really just a wind up of Credential Produce, maybe a little in costs but no bearing on us.

[mctmct] 05/1/2015 14:27

Any views on the implications of the distribution by Credential?

[battlebus2] 05/1/2015 12:46

Director's Dealing

The Company announces that, on 5 January 2015, it received notification that on 31 December 2014, Credential Produce LLP distributed its entire holding of 6,086,976 ordinary share of 1 pence each in the capital of the Company ("Ordinary Shares") at nil cost to its members (the "Distribution").

Barrie Clapham, Chairman of the Company, and Mr Derek Porter, Non-Executive Director, are both members of Credential Produce LLP and received 5,928,059 Ordinary Shares and 106,070 Ordinary Shares respectively from the Distribution.

Following the Distribution, Barrie Clapham's and Derek Porter's beneficial holdings of Ordinary Shares are as follows:


Holding of % of current issued
Ordinary Shares share capital
Barrie Clapham, Chairman 6,222,015 23.35%
Derek Porter, Non Executive
Director 112,070 0.04%

[battlebus2] 26/11/2014 18:18

Happy to say i added this afternoon.

[boonkoh] 26/11/2014 16:21

Big drop today caused by a seller willing to offload stock. Volumes not huge but I guess ground moving in this thinly traded stock. Maybe some inside info leaked?

[shanklin] 17/11/2014 07:59

Other than the potential from supermarkets to reduce prices, my main concern was the comment in one RNS that the demand for potatoes is declining quite quickly. On the upside, the acquisition and subsequent closure of one site both look pretty positive for PIL.

[battlebus2] 15/11/2014 14:04

Yes but 2013 was an exceptional year due to the shortage, the overall trend is still upwards which is what matters. Some years are better than others but with cost saving efficiencies we should still be trading well imv.

[mach100] 15/11/2014 13:27

Yes. It pays a nice divi and has fallen below the price it was when it made an immediately earnings enhancing acquisition. I do wonder about the effect of the strange weather patterns on crops though.

"Favourable conditions through the growing season have boosted maincrop yield prospects and, although there was a scare with blight earlier in the season, crops look well.

According to John Sarup of Spud Agronomy, very good soil conditions have allowed for good crop rooting and nutrient availability but the key has been plenty of sunshine.

The Potato Council is reporting yields to date to be variable but mostly above average, with varying degrees of scab, blackleg and some pest damage affecting crops."

The provisional GB Weekly Average for the week to 6 November is £112.90/t* (€144.12/t*). The same week in 2013 was £141.73/t with the trend ▲
The provisional GB Free-buy Average for the week to 6 November is £81.57/t*
(€104.12/t*). The same week in 2013 was £140.48/t with the trend.▲

Looks like prices have fallen considerably since 2013.

[battlebus2] 12/11/2014 17:21

Certainly worth adding at these levels, could even tempt a director buy..

[battlebus2] 05/11/2014 11:00

Yep still confident to hold, should see a bounce with further news.

[shanklin] 05/11/2014 10:46

This is getting a slow and steady kicking. Hoping there will be good news and a decent entry price at some point.

[battlebus2] 26/9/2014 15:24

Yes good luck Martin, i'm very happy with the results and contrary to yourself i'm adding. To me this is still a very cheap share and also we will have no exceptionals like this year relating to the closure or the Tern facility. I'm also pleased that operating margins have increase to 5.7 from 3.9 so sticking with my £4 target at some point.

[shanklin] 26/9/2014 15:06

I feel slightly ambivalent about some of the outlook in today's results. With that in mind I have sold my very small number of shares at a small profit.

This may well be the wrong call especially if management have a tendency to be understated in their commentary, especially as most of the financials seem to be heading quite quickly in the right direction.

So, I will continue to keep an eye on PIL and wish GLAH.

Cheers, Martin

[battlebus2] 26/9/2014 07:19

Very pleased with this mornings results...

Although revenue is lower due to last years exceptional prices caused by weather conditions we have seen a 40% increase in operating profit and a substantial rise in the dividend now 6.88p for the full year. Lots more to come from JRC in the coming years. There are price pressures but i expect PIL to cope with these.

Financial highlights 2014 2013
-------------------------------------------- ----------- ----------
Revenue GBP191.8m GBP206.0m
Operating profit GBP11.0m GBP7.5m
Fair value adjustment on biological assets GBP0.1m GBP1.0m
Exceptional items GBP(1.6m) -
Adjusted profit before tax (1) GBP10.1 m GBP6.7m
Basic earnings per share 33.64p 28.60p
Adjusted earnings per share (1) 39.64p 24.92p
Dividend per share 6.825p 5.46p
Net debt GBP24.5m GBP17.3m
============================================ =========== ==========

[battlebus2] 25/9/2014 20:57

Results in the morning so fingers crossed :))

[battlebus2] 23/9/2014 15:16

Indeed mct, as a long term hold it shouldn't bother me when the shares trade over £4 in a year or so :))