Pz Cussons Share Discussion Threads

[justiceforthemany] 03/11/2021 14:25

PZ has a better balance sheet than Reckitt, Unilever, most consumer staples.

[spoole5] 03/11/2021 14:01

Value will only be realised here through a takeover, thankfully the elimination of the debt may make that more likely.

[cfro] 02/11/2021 13:42

You have it all wrong, the turnaround has only just begun.

New CEO - Johnathan Myers only appointed May 1st 2020 and new CFO - Sarah pollard only started 4th Jan this year.

Since then there have been further managerial appointments.

No reason as to why margins cannot go back up to 13% once again and revenues back to £900m and beyond. They have world class brands in Carex and Imperial Leather etc.

[tabhair] 02/11/2021 11:21

Looking at this for the first time in a few years. I am a bit confused by this "turnaround".

A few years back they did £900m in revenue with an 13% operating margin.

Now they're doing £600m in revenue with a lower 11% operating margin.

It looks like the management have put a very good spin on this turnaround and are making out like bandits with increasing compensation, despite the fact that the business has shrunk in half.

The only positive here is that the business is simplified and a more attractive takeover target, I do grant you that. But who's going to want to pay much of a premium for a business that is already trading at 20x earnings?

I think a company like Unilever looks far better value. It's actually growing a little, isn't constantly turning around or re-structuring, it has a stronger operating margin, has a much better free cash flow %, has a much greater business stability.

[spoole5] 28/10/2021 16:23

Starting to look vulnerable

[essentialinvestor] 28/10/2021 15:48

Post update low was circa 2.06 approx.

[spoole5] 27/10/2021 22:05

Should be debt free soon. Nice and clean for a take out

[justiceforthemany] 27/10/2021 18:18

Solid balance sheet. Not expensive. Must be in play for M&A.

[justiceforthemany] 27/10/2021 16:06

Overall volume is low but there is a hidden volume under ? which is obviously a sell

[philanderer] 27/10/2021 14:19

Loks like a big sale being worked.. 1 million printed so far today.

[spoole5] 27/10/2021 14:08

5% in 2 days. Bizarre considering read across from reckitt

[philanderer] 27/10/2021 13:54

You can say that again , 12 month low today.

Very disappointing.

[spoole5] 07/10/2021 15:30

Starting to become a liability

[philanderer] 07/10/2021 12:00

PZC the only red one in my lot today at the moment.

[philanderer] 06/10/2021 00:42

Strike at Wigan plastic bottle manufacturer to impact major brands such as Coca Cola

A strike at a Wigan plastic bottle manufacturer could impact major brands such as Coca Cola and Britvic.

Alpla UK manufactures plastic bottles and containers for companies including PZ Cussons, Johnson & Johnson, Lever, Britvic, Coca Cola, Arla Foods, Core Ingredients, Princes Foods and others.

[philanderer] 27/9/2021 14:09

TM Crux: Market is wrong on PZ Cussons


TM Crux UK Core fund manager Jamie Ward has trimmed his position in PZ Cussons (PZC) but still believes the consumer goods giant will ‘begin to yield real value’.

In his latest monthly update, the manager of the £71m fund said the holding had grown too big and he had cut it to ‘better reflect the risk-reward of owning the business’.

‘We still like the business, however, and think that the strategy will finally begin to yield real value,’ he said.

‘It is undeniable that PZ Cussons became a little baggy in the past with too many little segments yielding little but taking too much management attention. While it is true that the previous management had gone some way to rationalise the group with exits from small markets… the current management appear to have a much more root and branch approach.’

Ward added the market is pricing the stock as if ‘it is a much lower quality business than we think it is’.

‘If management is wrong, it will be a rather boring business with a reasonable yield and a decent balance sheet,’ he said.

‘If they are right, we could well see its valuation move towards that of large-cap fast-moving consumer goods stocks.’

At Friday’s close, shares in PZ Cussons, which have a dividend yield of 2.7%, were down 0.2%, or 0.5p.

[buywell3] 24/9/2021 22:54

Why

Don't they get paid enough already ?

[cfro] 24/9/2021 15:53

Good to see a number of key staff being incentivised with share options.

[philanderer] 24/9/2021 00:33

spoole, thanks for that.

"Investec sees the group as a “good turnaround investment opportunity”.

"Remains a speculative buy."

[spoole5] 23/9/2021 21:07

https://www.investorschronicle.co.uk/news/2021/09/22/pz-cussons-rewards-shareholders/

[spoole5] 23/9/2021 16:27

I'm happy to hold these long term, great exposure to EM and the possibility of a bid. Strong balance sheet and should be some decent divi rises from here.

[essentialinvestor] 23/9/2021 16:05

I got a few under 2.10.

Thought the statement looked more than ok as mentioned.

Given inflationary and cost pressures it was arguably a positive.

Think the market initially focussed on the Carex sales comment,

but overlooked PZC returning to overall growth on current trading.

[spoole5] 23/9/2021 15:57

A few suckered out at 207 yesterday