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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| R.e.a. Holdings Plc | RE. | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| -1.75 | -2.25% | 76.00 | 10:16:32 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 78.00 | 76.00 | 78.00 | 77.75 |
| Industry Sector |
|---|
| FOOD PRODUCERS |
| Top Posts |
|---|
Posted at 16/4/2024 07:46 by cwa1 Major holding announcement:- |
Posted at 18/3/2024 09:42 by cwa1 Closing has taken place and all immediate financial settlements have been made:-Preference share arrears to be paid in full:- |
Posted at 12/2/2024 13:19 by cwa1 No opposition to the GM vote:- |
Posted at 02/11/2023 08:18 by cwa1 Proposed further investment by PT Dharma Satya Nusantara Tbk ("DSN") in PT REA Kaltim Plantations ("REA Kaltim"), sale of PT Cipta Davia Mandiri ("CDM") and rationalisation of REA's group structure (the "Transactions")and Prefs announcement... |
Posted at 30/6/2023 18:38 by pbaker Increasing borrowings by a further $8.5million but only raising $8.075million.For a company that should be cash generative at this level it does not bode well. This makes very little sense. What do they need the money for? augmenting the group’s working capital. This is non descriptive sounds like BS? were they short for the pref dividend? Are they making sure they have enough for the December pref payment to clear the arrears? Borrowing money to clear interest free pref historic missed dividends? Once dividends on prefs are clear, I will be tempted to exit on any good price. What are they doing? |
Posted at 16/6/2023 12:19 by wigwammer Thanks for the thoughtful replies, pbaker and cousin.... I think net net it's an interesting play - there is growth, assets and decent margins ... and eventually that will be reflected in the share price..... but I think the Indonesian jurisdiction does mean it will be a slower process than would otherwise be the case... interesting to see they have paid dividends historically and I recall management buying shares in the not so distant past...... but next year it will be a decade since the last ords dividend! ... best of luck |
Posted at 16/6/2023 08:34 by pbaker Wigwammer. Market cap on the ordinaries just £28million at 67.5p. Though with all the debt, that values the company at an enterprise value of over £200million.With palm oil bouncing off of $855 for the second time(let us hope that is the floor)now $895 you can only hope that the company can pay the pref dividends and continue to reduce debt. The big issue here is the Indonesian government taxation on palm oil. It stops REA making big profits at high prices and it takes a great management team to make a reasonable return. As a family we hold over 200,000 prefs. It is our largest single position. We only hold 8,000 ordinaries. With a yield of 10% on prefs I am hopeful but I can not justify taking our position higher. The ordinaries appear a bargain and next year if palm oil sits near $1000 for the year, you could see ordinaries touch 200p again. A small dividend is possible just to keep shareholders happy. perhaps 0.25p at the half way and another 0.75p as a final. There is the smallest chance MPEvans could bid. The management team there seem to be all about the shareholder, they would not over pay. So 150p and £1 for prefs I think they could take REA out and make MPEvans a bigger player in palm oil. These are my thoughts as always DYOR. That is the Bull case. The Bear case, sees palm oil fall. $500 could be a low. This might see the company hold back on making up the pref dividend. 7p per pref left to get them back level. As a worse case they might not make the final payment in December. This would see the prefs crater to 50p and the ordinaries head towards 40p. This is a small company that is lightly traded so any big sellers can keep the price low for a long time. For me this scenario would be a nightmare but it is not unthinkable as any long term holder would tell you. Would love to hear anyone's thoughts. |
Posted at 05/5/2023 11:01 by nobull "This could leave a dividend on the ordinaries of 10p next year?"I've got my doubts about that. They really need to pay down debt first - the debt is at diabolical levels, but debt reduction, if you are a director, is boring - much nicer to have a new plantation or new vehicles, etc. I think expanding the business, if there is any surplus cash, will take priority over debt reduction. Reinstating the dividend is a leakage of money the directors would love to have to spend on new stuff, I wonder? I agree with you that £2+ is likely but the directors can achieve that quite quickly by paying down debt, but because we want that, they won't do it - you can be sure of that. The other thing to bear in mind is the operating leverage here is massive, so palm oil price movements have a more dramatic effect on profits. We've had falling palm oil prices for some time now. The share price trajectory is reflecting that and maybe anticipating a return to barely profitable conditions. Anyway dividends on the ords ought to be the last thing on their mind for a while yet. JMV. I haven't sold any, up from the low fifties to £2 and down again but if they get any lower than the current level of about £1, I expect I'll be loading up with a lot more. The business model is sound but the financial model needs fixing. A new revenue source to the stone contractors should enable some of the loans we made to these organisations to be repaid enabling a debt reduction to translate into a rise in market cap, I wonder? |
Posted at 25/4/2023 19:25 by pbaker Rea update 20.04.23. A complex set of results. Do we need 4 different types of profit. Revenue $208.8million Debt $166.7million down from $175.7. EPS 31.85p. So just PE 3.1. The preference dividend should be caught up by 31.12.23.This could leave a dividend on the ordinaries of 10p next year? So a while to wait for any income. I do wonder if MP Evans might be tempted to make a bid? I own many more of the preference than i do of the ordinaries. So i am talking my own book. This looks so cheap but it is cheap for a reason. I do think £2 could be easily reached in a good market and £4 is not impossible. |
Posted at 22/4/2022 07:37 by ntv Lots of extras in the accountsExtra Pref dividend to be announced in June could be interesting Tried to rough what they are getting currently at an extra $250 per tonne Pity not more of update to current situation as these accounts are 4 months out of date Agree nobull that stone work is a bit slow in getting started but so many things do in nearly every country Coal loans should being repaid monthly and that is going to help a lot in the future Still an very interesting situation here |
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