Volvere Share Discussion Threads

[jaf111] 09/4/2020 15:47

now 10 lots of 1,000 sales showing.....
maybe seller's finished....price about to move UP???...

[cockerhoop] 09/4/2020 14:41

Doubt we'll get an RNS tomorrow morning #GoodFriday ;-)

[rivaldo] 09/4/2020 13:15

Indeed - just look back at VLE's RNS history. There's loads of them! If they are buying back we'll probably get an RNS tomorrow morning and each day after that if the buybacks continued.

[yamaha865] 09/4/2020 12:26

Wouldn't they need to announce in an RNS if they were buying back shares?

[jaf111] 09/4/2020 11:48

Yes Rivaldo......had been observing / thinking the same thing.....

[rivaldo] 09/4/2020 11:32

Loks like someone's in desperate need of cash - nine £1k sales this morning have raised the seller £115,000.

It's much more interesting that these have all been accepted without any problem. Either there's a large buyer out there or perhaps VLE are collecting up shares in another buyback.

[glawsiain] 09/4/2020 08:01

The man tweets

Jonathan Lander
@JonathanELander
·
17m
#Volvere's trading statement out this morning. I wish we were announcing in happier times. Frozen pies are selling like hot cakes, but frozen cakes perhaps not yet like frozen pies. Keep well everyone.

[rivaldo] 09/4/2020 07:39

Trading statement is out. VLE continue to look great value imo. JL is typically cautious about the pandemic's uplifting effect on Shire's sales, but the signs are there:



- net assets of 1382p per share (excluding the true value of Shire Foods)
- cash of £19.3m (prior to small Indulgence acquisition)
- Shire made £1.3m PBT, up from £0.85m, with revenues up 26% to £23m
- Shire's likely large uplift in retail sales partially offset by foodservice decline, but this must surely be much smaller relatively speaking as only 12% of sales?

[rivaldo] 07/4/2020 23:17

Looking at today's trades it's good to see the real spread so relatively small for a change, varying between 1290p-1340p.

[cockerhoop] 03/4/2020 10:48

Simso,

I completely agree, you can never say never but I'd be astounded if they sold Shire at this point, as you suggest potential synergies/cross-selling with Indulgence, development of Naughty Vegan etc

[simso] 03/4/2020 10:04

Personally I cannot see this as a "good time to sell Shire", for several reasons. The results for the first half of 2019 showed a real upswing in sales and gross margin, which I would assume has continued, and perhaps even accelerated in these difficult times. More importantly, having bought Indulgence, I am sure the Landers see significant synergies to realise...and will be in the process of delivering those. Perhaps they can even consolidate Shire & Indulgence into one of the two sites: Leamington or Colchester...and sell the Freehold of the other? Who knows...that may not be possible, but I am 100% certain the Landers will extract value from owning both.

Big cash pile...plenty of distress in the economy to come, big opportunity for VLE.

[scorpio51] 02/4/2020 18:19

This is precisely the right environment to flush out a buyer. What better time when food is uppermost on most people's m ininds? There are plenty of food businesses to whom 10-20m would not be a stretch. I dont believe that the Landers have charity at the forefront of their dealings,rather a pragmatic view to exit investments at a sensible multiple at the opportune time. And they have done it time after time. Whether we get an exit on Shire now,or further down the road, I have every confidence in a proven management team,who are well incentivised,to get the best deal for investors.

[zoolook] 02/4/2020 17:05

Greedy? Does this really come into it? It’s a business not a charity. They’ll sell at a price that represents a good exit for them and shareholders. It’s not a case of leaving something on the table deliberately because they’re nice guys. Given how long it’s been on their books compared to their other investments there’s clearly not been much ‘appetite̵7; for Shire to date to pay a price that represents a good exit (though I do wonder what that is in their minds)and the current environment is less likely to flush out the right price whatever that is.

[scorpio51] 02/4/2020 15:41

The Landers aren't greedy,and as Rivaldo says, will want to leave something on the table for a new owner. I would expect,and be happy for 80%of a £12-15m sale price for Shire. That could give an NAV of at least 1600p. Buy on the next big market fall which is surely fast approaching,which will pull everything down.

[yamaha865] 02/4/2020 09:55

£10m for Shire would be far too low- likely to make hopefully £2m pbt in 2019 and should be significantly more this year. £20m or thereabouts would be more reasonable

[zoolook] 02/4/2020 09:51

With companies cutting divis and hoarding cash sounds unlikely but happy to be proved wrong!

[rivaldo] 02/4/2020 08:40

...or perhaps even disposal news? The time to sell Shire (including the small Indulgence operation) would be at the peak of its attractiveness - which is now.

The Landers are keenly aware of the timing of these things, and of leaving something for the next man - perhaps they will utilise the current boom in demand to allow a respectable exit for Shire.

It would be great to see VLE sitting on a £28m+ cash pile having sold Shire for £10m+, particularly in the current environment. Anyway, pure speculation at present.

[zoolook] 01/4/2020 14:53

Hopefully it will be coupled with acquisition news

[rivaldo] 01/4/2020 14:47

Patience :o))

[yamaha865] 01/4/2020 11:10

No trading update in March then- bit frustrating

[rivaldo] 01/4/2020 08:36

There's a "wall of cash" ready to support companies on the brink according to Bloomberg.

Including VLE's - the Landers will be inundated with opportunities in the coming weeks and months: