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For the last time H&N - I do not need/want you to ask questions FOR ME I do not need/want any PI info from you as I have my own reliable sources without taking info off a 3rd party I don't know from Adam and who clearly cannot sort the wheat from the chaff or more to the point sieve through corporate mist to get to the actual facts You assume my points are erroneous assertions all you wish, it's no skin off my nose and I certainly don't care what you think And finally you clearly have not attended PI when they were based in the North or our paths would have crossed. I certainly would not forget a character such as yours, that is unless your real character in person is significantly different to the persona you promote on here. and before you spout on about cost, when you have caught an overnight bus to Preston to attend an AGM before returning home the same day I will consider you to have the same committment to PI becoming a success as I do You would also find that attending AGM's and making the effort to get to know not only the officers and II's in attendance but also the company's other employees by engaging with them on the premises and introducing yourself offsite (both ones that are now no longer employed and also those that still are) you can put yourself in a significantly better position to make balanced judgements regarding your investment than someone like yourself that doesn't appear to do anything apart from regurgitate the same drivel over and over without actually making any noteworthy points
Once again - you assume I have not heard my information direct from PI or my information is not correct and relevant As reggie says, they will only tell you what they want to tell you anyway whether that be by email, telephone, or face to face - if you were an II on the other hand you may get a little more info to twist your arm - this is from experience both with PI and others and also both regimes at PI If this management are going the same way as the previous regime in failing to get significant sales traction it needs highlighting and hopefully dealing with - if revenue begins to make good movement I will be the first to hold my hand up I just don't want to see my investment utilised in employing yet more ineffective personnel who are not capable in getting this company to where it should be before the story gets too long in the tooth You may be better employing your suspicions in other areas - and you still have not answered my question to yourself, did you ever venture North for any AGM's ? You cannot continue to claim I'm not quoting relevant and correct information as a result of your belief I have never spoken to PI, John Brubaker, David Jones, Peter Blezard, Mike Panteli, David Marks, Martin Robinson, etc etc when you can't even answer my question !
the point reggie is the facts and figures are not being taken at face value hence my suggestion to contact management directly. i am always very suspicious of supposed investors motives when they spout erroneous criticism yet refuse to express their concerns to management. it suggests they have a prior agenda
hereandnow, yourself and horace are very naive if you consider that the only answer to any investor doubts will come through discussion with the company management. A little respect for those who prefer to take the facts and figures at face value is required. I have on occasions contacted different managements when I needed certain information, but one must always remember that any answers you will be given to any of your queries will necessarily be given as much spin as possible. This is true of both politicians and company spokespeople.
Well, if you cannot be bothered to contact management and put your queries to them, I really don't see why i should do it for you. That really is a bit lazy. It is all very well banging on with your erroneous assertions but if you cannot be bothered to write or phone the company management to get the facts, i don't see why I should even bother trying to help you any more. i really cannot bear lazyness. in this day and age communications really are very simple (and very cheap if you are worrying about the cost)
Exactly - and then it's up to the recipient to decide one from the other ;) I reiterate - all I want is for this story to become the success it should be before other competitors overtake us and our aging products (if they haven't already). R&D appears to have been on hold for years and as a result new products, rather than variations on a theme, have not been forthcoming We probably have the advantage of a bit more financial backing and management expertise than others but now is the time, after 2 years of the new structure, focus, business plan to start making real inroads into revenue and get to profitability - especially after the lack of continued success of the previous team I don't feel that is an unrealistic expectation after 2 years, the initial customers and revenue were already in place and just required developing and uplifting, as were numerous field trials and new territory negotiations - I was hoping therefore that the existing 'bread and butter' business would continue to contribute towards the reduced overheads and at least some of the new business plans would come to fruition enabling profitability and all the trappings that would follow. I was under the impression that we already had a UK distribution agreement in place around 18 months ago so presumably no time consuming efforts have been required to search out new UK customers but rather just develop the revenue streams with the existing partner (and the groundwork would be done by them rather than PI) Unfortunately nothing significant appears to be in the pipeline (apart from Brazil) but I stand ready to be corrected after July and possibly any announcements prior to or following the investor meeting particularly regarding an uplift in revenue (I wouldn't like to think we have all our eggs in the Brazilian basket) For this type of business, with products that do what they say on the tin, especially in this day and age of food production concerns and the attention it is getting from governments and major industries all over the world, I would expect there would be no need for revenue warnings in any shape or form as the groundwork has been done years ago with the initial customers and end users - the product results should be doing the talking by now and revenue increasing significantly in the established areas simply as a result of word of mouth Revenue forcasts should only be complicated by the level of anticipated uplift and new territories but it appears for the last 3 or 4 years the revenue has practically stagnated for an innovative company - we should be seeing revenue doubled (at least) year on year if the products really do perform as claimed Interesting times lie ahead over the next 12 months
clearly there is knowledge obtained as rumours and knowledge from fact , suggest some people cant tell the difference.
You miss the point yet again - I don't need your information as I can get the data for myself I was merely suggesting questions for you to ask in order to confirm my points for yourself or possibly the questions being sidestepped at the investor day if you choose to ask them If you and your new colleague agronoveg1 now wish to believe PI customers in UK/Europe grow their produce right through to November, and more to the point purchase and use PI products through until then, would you like to explain the reason for the period change ? Surely in that case they should have changed it to December rather than July to cover for this eventuality !!! And again confirm this for yourself by asking the suggested questions - I already know the answer ! You continually contradict yourself, One minute discussing the necessity for accounting period changes because of the seasonality of the business Then stating the produce is grown right through to November Then pointing out seasonal delays which won't affect overall sales just delay them into another Q etc etc I'm wasting my breath - get your data from wherever you choose is best ! ps Did yourself and Bavaria ever venture North for the AGM ?
If you have a telephone, you could always phone up the CEO and put your questions to him or would you rather we put them to him in a public forum, jot down our interpretations and then re-gurgitate them at a later date on this forum for your perusal? Personally i would trust my own conversation and questions rather than third hand reports from some BB poster who I clearly have no respect for whatsoever…..
ps Welcome to LSE agronoveg1
So would you both like to bring this up at the investor day and question the management on the reasoning behind them not selling product in UK/Europe throughout the year rather than mainly in Q1 (with a lesser amount in Q2,) and why the concern over accounting periods if that's the case ! We have specifically been discussing UK/Europe, and that is the focus on the articles posted yesterday, or are you skewing off on yet another tangent or failing to follow my thread yet again !
not in greedisgood's world…..everything stops in June….after that nothing happens, a kind of post-apocolyptic scene…scorched earth etc...
There is always competition, but its all about quality of products and strategy and sustainability.
just to clarify some facts PI products inca etc are used on fruit/glasshouse and vegetable crops are used throughout the season from march through to October/November . Crops are any where from 2-6 weeks behind therefore product will be used but at later times.
http://www.ecoculturebs.com/www.ecoculturebs.com/Home.html Very interesting link to a recent article on potatoes !
Unfortunately I will not be there as my work takes precedence over travelling to attend I have experienced the AGM's in the past and found them to be an unjustifiable way of spending my time as pointed or uncomfortable questions are skirted around and referenced back to the agenda already planned, and this does not just apply to PI but most companies As you will be aware the vast majority of shares are held by institutions who will already be in regular discussion with the company whereas what are seen as minor private investors are treated as such as we don't particularly figure in the plans of the company and certainly not seen as individuals who can question, or more to the point influence, the decisions and performance of the company and it's officers How many AGM's have you attended in the past, maybe we have already met ? Like I said they tended to be particularly poorly attended (on most occasions the attendees would comfortably fit in one people carrier) and therefore easy to ascertain if you have already made my acquaintance or not ! I look forward to you relaying any additional information, particularly regarding actual revenue for 2013 (and hopefully 2014 forecast) and profitability forecasts as these are now the lifeblood of PI, you obtain at the investor day, although I will be able to get any information myself from other attendees in the event you don't make it ! This company has not has a great reputation for accurate budgets/forecasts in the past (particularly beyond 6 months) and has always come up short on its revenue forecasts with the result it began to struggle in relation to additional fundraising without offering significant discount. Therefore I would suggest you ask the company if they can enlighten you regarding the revenue split for longstanding customers and any new customers who have come onboard in the last financial year - from my information (and past announcements) new sales sources have been few and far between during the last 4 years and rather than increasing their customer base they have lost as many customers as they have gained and have therefore appeared to restrict themselves to selling more product to the same contacts, hardly a concerted effort to spread the word - Brazil apart (although we had the US potato story 2 years ago which subsequently never materialised) Hopefully now they are based in the South the meetings may be better attended and more information may be forthcoming on forums such as this as a result You decide what you think is opinion and what you think is fact - on the other hand I actually know what facts I am in possession of and I certainly don't require any pointers from yourself in relation to PI !!
try not to keep stating your opinions as facts. that might help your case a little. if you need any more pointers , please let me know. looking forward to meeting you at the investor day in july.
'Just waiting for the news re. Brazilian distribution partners. One of the key parts of management's expansion plans and the first attempt to get into broad acre crops, a potential game changer. 'As I suggested, European revenues are running late because the season started a month late. I suspect some sales expected pre. July will now end up post July. I expect clarity on this at the investors' day in July' Where have you been for the last 6 years ? First attempt to get into broad acre crops ? And you claim I don't know what I'm talking about ! The sales we expected pre July i.e. Jan to July, you now expect post July i.e. Aug onwards - that would need one BIG greenhouse ! And you will get clarity in July at the investors meeting - they will either confirm they have hit their forecast for the period to July or confirm they have not, they will not tell you those sales will now appear in H2 as there will be no requirement for the product then until the following season - simple ! 'first ever profitable Q..Q1' - what a surprise, the Q with the majority of their sales , and then lose that profit and significantly more in the other 3 'i doubt H2 will be unless something miraculous happens in the first year's trading in Brazil or a lot of Uk?European sales get rolled over into H2 which seems unlikely' - Miracle is an understatement and you expect they might have some UK/Europe to roll into H2 and still be profitable in H1 !!! Laughable At the end of the day H&N business is all about a trading YEAR ! All companies could pick and choose a month, quarter or half year to report wonderful profitable results - but that's where the rest of us have to interrogate and analyse to see the full picture and decide on the value of investment ! Do turkey farms just report their Q4 results ? Wimbledon just Q2 ? Thomas Cook's Q3 ? I don't think so ! So don't be blinkered and judgemental in your acidic approach to other investors who just want straightforward information now the reporting periods are set - there is no such thing as a delayed sale in an annual report, it is a lost sale, under performance on reported forecast, or simply will roll over into the next period. Unfortunately this rarely happens in agri and particularly when you have already juggled your accounting period to specifically avoid this scenario ! I will concentrate my discussions with the other posters on here who are capable of listening and responding sensibly and in a balanced manner, with the ability to change their viewpoint and attitude when relevant info comes to light - therefore I would suggest you no longer comment on my posts if you see them as fictitious, onesided diatribe and I certainly won't bother even reading yours until you are capable of considering another person's data and digesting it properly before dismissing it And it's goodnight from him !
'sales are running later than normal this year because the season is a month late' - sales don't run late in agri leaving an issue by the end of July, therefore a pointless statement as I said previously as it shouldn't affect sales revenue in the period, it has been stated by the company because they will be LOST sales not LATE sales ! You can't seem to grasp this simple fact
last year they celebrated their first ever profitable Q..Q1…I suspect they are aiming for their first ever profitable half year judging from their trading statement. i doubt H2 will be unless something miraculous happens in the first year's trading in Brazil or a lot of Uk?European sales get rolled over into H2 which seems unlikely
'therefore by July the effects on revenue should be minimal (maybe 10% down on projected forecasts at best - and that's assuming the customer buys the product seperately for each application' i am glad you are finally realising the validity of what I suggested weeks ago. i never said it was the be all and end all but may well be a contributing factor. finally……...
'This is clearly a situation that is temporary, and will be remedied by the end of July. In any event, the last sentence makes more interesting (and indeed, encouraging) reading:' reggie…this is your interpretation. it is not what is written. you write your opinion as fact. there is a great deal of difference between opinion and fact
I understand your interpretation R but why do you think they mention it if it is temporary ? I believe sales will improve 'eventually' we just need it sooner rather than later ! By break-even do you interpret that as profit wise or just cash flow ? I would be amazed if they can break-even profit wise on the anticipated sales, and this would render the revenue warning as unimportant as we are all waiting on the break-even point regardless of the sales required, or do you think they are referring to cash-flow break-even, a completely different scenario particularly bearing in mind the fundraising in Dec/Jan ? In addition, if it is only in relation to the 6 months to July that wouldn't be difficult bearing in mind that period would include the majority of their sales (be those UK, Europe or otherwise) - and then the results for the following 6 months (unless Brazil takes off) would show a significant loss as the cost base would continue with no revenue !
Regarding this discussion, I think the key part of the RNS is this: At this time, and given a later than usual start to the European growing season, we do not yet have sufficient visibility to judge in-season distributor re-ordering of the Company's products. This is clearly a situation that is temporary, and will be remedied by the end of July. In any event, the last sentence makes more interesting (and indeed, encouraging) reading: Plant Impact's financial objective for the six months' ending 31 July 2013 remains to operate the business on an accounting profit and operating cash-flow break-even basis.