But in previous years they haven't made anything like those cash payments to the fund and had a rights issue - agree management have done a good job overal but with debt interest repayments at 6-7% on 535m and pension payments of 40-50m and investing in marketing there is very little cash left to reduce debt - if top line grows strongly then sure but doesn't leave much scope for a slight downturn
They have attractive assets and debt (and pension deficit free) would be a beautiful and cash cow but without deep pockets it is a bit risky hence low valuation
Japanese Yen appreciating against Sterling over the last few months and still continuing. I personally think this makes it interesting for Nissin to consider PFD. Purely speculating, as this could be far from their intentions, but makes me wonder.
Read an article in the guardian recently about British companies being bought up since the Brexit because of the weak point. I think there were be a take over. But if not the company is on course for recovery. Also massive selling point is its British brands.
we will probably be reading each others comments for quite a few months to come, 50p this week would be fab. Even though I am presently sitting an a large paper loss, I am confident of PFD's future and more importantly my funds.
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