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Share Name Share Symbol Market Type Share ISIN Share Description
Volvere Plc LSE:VLE London Ordinary Share GB0032302688 ORD 0.00001P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 1,390.00 301 08:00:00
Bid Price Offer Price High Price Low Price Open Price
1,350.00 1,430.00 1,390.00 1,390.00 1,390.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 18.64 -2.43 590.10 2.4 36
Last Trade Time Trade Type Trade Size Trade Price Currency
09:55:27 O 71 1,390.00 GBX

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DateSubject
12/6/2021
09:20
Volvere Daily Update: Volvere Plc is listed in the General Financial sector of the London Stock Exchange with ticker VLE. The last closing price for Volvere was 1,390p.
Volvere Plc has a 4 week average price of 1,390p and a 12 week average price of 1,385p.
The 1 year high share price is 1,550p while the 1 year low share price is currently 1,285p.
There are currently 2,571,922 shares in issue and the average daily traded volume is 1,835 shares. The market capitalisation of Volvere Plc is £35,749,715.80.
31/5/2021
10:27
samenic: Just catching up,l'm in abit of a quandary regarding this investment,normally no matter how long l've held a share l still regard it as just another trade.Maybe its because to some degree VLE has been sidelined,waiting for the next investment and with the virus effects.But l'm afraid that it maybe falling into the category of the injured footballer,who always in the fans minds gets better the longer they don't play
30/5/2021
07:34
rivaldo: Cheers meathead - I note the article's now freely available for everyone to read, but thanks for posting it! Graham Neary strikes me as essentially quite a cautious investor, so it's good to see him becoming more bullish about VLE as his largest holding.
28/5/2021
14:36
rivaldo: VLE is Graham Neary's largest holding, so it would be interesting to see what he says. It's subscriber-only though..... Https://cube.investments/cube-report-28-may-annual-results-at-my-top-holding/
28/5/2021
07:33
rivaldo: Results are out. Shire is trading terrifically well - revenues up 18% to £27.2m and PBT up 31% to £1.81m. The freehold property has been revalued up to £3.75m, from the prior book value of £2.43m. I note that VLE now own another freehold property in Indulgence worth almost another £1m. The Group also now own £5.3m of plant and machinery as well as a net £4.7m of freehold property, i.e £10m of tangible fixed assets. Net assets of £37.18m compare to the £36m/cap - before incorporating any valuation of Shire Foods or Indulgence. Indulgence has had a lot of loan monies put in, but the improved performance in H2 was notable, with a huge increase in revenues and a good reduction in losses. The return of the foodservice sector should bring about a big further improvement this year (and for Shire Foods too). With a £23m cash pile, the Landers must be licking their lips at the many businesses which should become available as government support measures end.
18/5/2021
14:27
rivaldo: A reminder that the 2020 results will be out soon - "on or around 28 May". Surprisingly (imo) there's been a few small sells recently which have seen the price drift a little. With lockdowns now almost wholly lifted VLE should see a swift recovery in food service sales to restaurants, educational establishments etc. Including pies at football matches (on a small scale anyway!). I also suspect the increased sales via home deliveries will continue permanently, even if not at the pace of the last year, given the continued transition to home working.
17/3/2021
08:41
stemis: If you strip out cash then that puts Shire valued at around 6 times profit. So the cash is a drag on the share price. Even if the markey decided to value Shire at 33% more i.e. 8 x profit, it would only lead to a 10% share price increase.
16/3/2021
07:22
rivaldo: The trading statement is out - to quote, these are "outstanding" results from Shire Foods. Which they are. - PBT is at £1.81m, up from £1.38m - a new production line is being installed "to supply future anticipated revenue growth" - 2021 revenues are ahead of last year Indulgence made a £1m loss post-acquisition, which explains the overall group loss. VLE's management should this year improve matters greatly with the improved retail offering, the return of food service sales and the start of sales via Shire Foods of new sweet products. VLE have £23.7m cash against the £34.7m m/cap and £36m net assets. VLE's 80% of Shire is looking like it's really coming to fruition now. OT : Gallas, perhaps try again - they've always been good at responding in the past.
03/3/2021
11:40
galles: The share price is back at the placing price, and here I was thinking they would have done a deal within a month or two of the placing...What is the best means of getting a response from the company? I sent them queries via their Contact Us page and never heard from them.
01/6/2020
10:11
glawsiain: Here you go: Volvere (LON:VLE) Share price: £14.50 (+5.5%) No. of shares: 1.8 million Market cap: £25 million Final Results Please note that I have a long position in VLE. As you may already know, I have an overly large position in this - 25% of my portfolio. Not exactly in tune with standard portfolio construction practices. When I originally bought in, it was for less than 10%. But the price has nearly trebled, so here was are. It's a turnaround investment vehicle, typically buying businesses out of administration. It then reinvigorates them, gives management a decent stake, and helps them to grow, before selling them on. Results - for those who closely follow the company, I don't think these results contain much that is new. The main points are: NAV per share now £13.85 Net assets £25.4 million (excluding non-controlling interests), of which £19 million is cash. The only operating subsidiary which was left at the end of year, Shire Foods, grew revenue by 25% and PBT (before Volvere's charges) almost doubles to £1.4 million. Volvere owns 80% of Shire (the rest of it was awarded to management), so its adjusted pre-tax profit that is attributable to Volvere is £1.1 million. One of the key features of the Volvere strategy is incentivising management at subsidiaries, and I note that Shire paid a £500k dividend. Shire management will have received £100k of this. Success in 2019 is explained as follows: I am pleased with the growth achieved in 2019, which came principally from a deepening of relationships with existing customers, resulting in wider distribution and broader product ranges. Particularly encouraging was the growth in vegan product lines, where we believe we have developed flavours and textures that appeal to a wide consumer audience Covid-19 impact - "too early to say" whether the sales uplift to supermarkets will be sustained and result in full-year growth. Foodservice customers have been hammered, and they represented 12.5% of Shire's 2019 sales. Volvere expects them to return to normal when trading restrictions are ended. Production and costs are affected by social distancing measures - "we are still achieving an encouraging level of output and, for the most part, meeting customer demand". Indulgence Patisserie - a small acquisition made earlier this year. It is making progress, with more to do: "...we have been working to improve customer and supplier relationships, increasing teamwork and investing in new systems - and whilst we have been encouraged on a number of fronts, there is still work to be done in making the business more efficient and reducing costs." Strategy - this bit is interesting. Jonathan Lander said on April 21st that markets were experiencing "peak gloom". But it looks like Volvere is waiting for more fallout from this crisis, before it does another deal. It's not in a rush: We are already seeing increased levels of distressed deal flow due to the COVID-19 pandemic. The length of the economic effects is uncertain, but I fear it is likely to extend well into 2021 and possibly beyond. The anticipated reductions in financial support from state schemes will probably trigger more hardship for individuals and companies. We will do what we can to rescue those businesses which we believe viable, in all sectors and geographies, in accordance with our investment mandate, but with added focus on building a larger group of food businesses, leveraging our competencies in this area. I think this is fairly clear, and sounds sensible. Remember that Volvere's strategy typically involves buying out a bank loan for a company in administration. But with the government support schemes currently in place, such as furlough and loans, many companies have avoided going into administration. It makes sense to wait until some of these schemes are over, and only then to make a move. My view No change to my view here (what did you expect?!) The share price is now at a small (5%) premium to NAV, but I don't think that's unfair. Remember that this vehicle has compounded wealth at an extraordinary rate for nearly 20 years now. A small premium for this sparkling track record hardly seems unreasonable. If we deduct year-end cash from Volvere's market cap, we are left with an enterprise value of just £6.4 million. With Shire earning (pre-tax) £1.1 million for Shire in 2019, the implied pre-tax earnings multiple is a mere 6x. Some cash has been used to buy Indulgence, but I note that Volvere did not even pay a premium over book value in that deal. And there is clearly some potential for it to benefit from the association with Shire, as they are both in the business of manufacturing frozen food. Happy to continue holding, then.
06/3/2020
15:45
boadicea: When the dust clears, which may be some time, there are going to be many 'good' companies that have fallen into administration or similar due to lack of lquid reserves at the start of the crisis. Many may be capable, in sales and trading terms, of a strong bounce back but lack the cash to kick it off. We don't know what the official financing arrangements (government/banks) might be in such cases. Almost certainly there will be many sme's that fall into the finacial cracks in the system and thereby a prospect of a rich hunting ground for VLE to deploy its mainly liquid resources. The firmness of the VLE share price probably shows that my view is shared by others. The market (=all of us and certainly myself!) with some obvious exceptions (travel companies etc.) is having considerable difficulty in grading the magnitude of the effects as between companies, from the big losers (manufacturers lacking imported components?)to the marginal losers, or possibly marginal or large gainers (on-line education?). How transient will be the effects? Will a rush of investment into circumventory measures prove to be a long term waste of money? Certainly I see VLE as a firm hold since experience shows that the management is unlikley to make poor decisions in deploying its mountain of cash.
Volvere share price data is direct from the London Stock Exchange
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