I bought at 71p, my last lot and saw it drop, so went very quiet, didnt sell and stayed in, then I have seen it rise to 90p. Happy to hold for a while. Hate to say it but Zines predictions were correct. up until recently. He predicted a drop back, and it happened. Dont think he thought that people could see the positive sides of the company and the potential. Some people do though, which is good for us long timers in this share. Always an exiting one to be in. Maybe Zine will be quiet for a while.
Interesting. Doesn't do us much but interesting all the same. Looks like Allied are cutting costs to make the bottom line add up. As GD said, someone had to get off the merry-go-round of chasing volume at any price. He needs to make Hovis premium bread again somehow. Allied's 50:50 was a blantant rip off of Hovis' 'best of both' and that niggles me every time I accidently go into a Co-op!
- Jacquie Cahill will join Allied Bakeries on 1st September 2011 - Allied Bakeries has won the multi-million-pound bread contract for own-label bread lost by Premier Foods - Allied Bakeries supply chain director has been made redundant, Cahill has been closely involved in the intregation of the Co-op group contract
I reckon £1.00 by this Friday, then £1.20 by the end of August. Depends in the Private Equity people start sniffing around. Hope they dont as its worth much more than the £1.30 figure banded around as a takeover target. 900 jobs gone from a site that has been around since the late 60's, probably earlier would save on costs in the long run, all the moves around suppiers, wont be long.
Tall order, I have said before and still hope there are millions from the cost savings due to the poor manner in which the business was ran in the past and this will come through. I do accept that marketing and capes spend has changed to meet this current number, very tall order. The CEO I do believe is doing a selling job, whether to sell bits or the whole thing or indeed sell to then get inward investment we shall see. But the presentation last week was front foot and focus upon the good as much as other areas. It worked to a degree, we need a sustained third quarter and then a bumper christmas. With another 6 or 7 new products on the shelf to support growth.
The point im making isnt to bash the share, i hold pfd remember and am not looking for it to drop to buy more, i have enough that im comfortable with.
I just dont feel that the results are particularily outstanding, certainly not as outstanding as they were painted. Next set if not much much better will possibly decide the future, wheat harvest better, lower prices.
You stated "generating plenty of cash" we have not seen any "generating" yet, not burning as much granted but thats not quite the same thing.
It needs to be generating more than 50-70m next year with pension payments starting again.
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