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Divi return news is the icing needed for a rerate to 130/135p range.
Fingers and toes crossed for Tuesdays results. Hoping to settle above 1.05 going forward.
Yes recovering nicely and any hint of a dividend return will tip up towards 120-130p range and not before time. For those who held firm, may the force be with you.
Good runn on mks results
Marybr190
I see no hints of a bid.
The rise is due to better than expected outlook and further share buybacks.
Cheers
Barcap
Looking likely to succumb to a bid, strength now even on down days, DYOR getting interesting again.
Jedclampit
Shares are wild animals.
You may still get your day to re-enter.
Cheers
Barcap
Bum in a word, it looks like I made the wrong call ripley.
What more can one say !!!!!!!
A strong bounce off the 23.6% Fibonacci retracement of 82p from Tuesday's rise bodes well.
Cheers
Barcap
Looking good for a nice run to well over a pound as a winter draws in. Been hard fought but looks pretty solid bet.
Jedclampit
From my technicals the Fibo retracements from todays rise are:
82.32 23.2% retracement
79.90. 38.2% retracement
78.00 50.0% retracement
76.00 61.8% retracement
So these are levels of support on todays rise IMHO
Cheers
Barcap
Hi Barcap, I have been sitting on these for what must be 2-3 years now so trying something different. I know what's going to happen I sell and the SP goes up to 90p we all get cault out but what the hell it's already started to fall, but will it fall back to 75p ish then I will be happy.
Greencore Group plc issued a trading update for Q4 and the full year ended 29 September 2023 this morning. Group pro-forma revenue was 4% up year on year in Q4, with FY23 Group pro-forma revenue growth of 13%. For FY23 the Group anticipates adjusted operating profit will be ahead of current market expectations and in a range of approximately £74m-£76m, which would be up significantly from the statutory operating profit of £52.1m recorded in FY22. The balance sheet remains solid, valuation also looks very attractive with forward PE ratio at 7.0x top quartile for the sector, PEG ratio at 0.3x is even better ranking GNC 2nd best of 23 names in the Food & Tobacco market. Share price lacks longer run positive momentum, but has notably spiked up 25% on today’s release. The consumer defensive name could also well outperform more cyclical sectors of the market as the UK economy slides into recession and is well worth owning at current levels for the long run. BUY....
...from WealthOracle
wealthoracle.co.uk/detailed-result-full/GNC/811
Jedclampit
I'd recommend sitting tight and holding.
Trying to dip in and out only results in tears IMHO.
Cheers
Barcap
So trying something different now, just sold a big chunk I bought for 70p ish and now hope it drops back to 75p so I can buy back in cheaper.
Well they have just announced another buy back of shares to £15m, so I guess there will NOT be any Divi's for 12 months, but I could be wrong.
Is there any update on when they are going to start paying dividends again?
Either re rated or someone haveing a look
I got lucky? buying just before financial announcements!
One to tuck away.
Yes, short term traders selling will most likely drop the price towards the end of the day but then longer term investors will enter the market on any fallback.
100p is not out the question this October.
Cheers
Barcap
Sorry I mean 10p about 15% in one day.
Wow that's a big jump in one day over 10% which is great but I now expect many to sell and make profit while they can and the SP to drop back to say 75p before it starts to move up again.
So a profit of about £74m ish for year end but would have been about £100m if they include the £35m spent on buying back shares.
So a great result.
This is all very well and as they say returned £35m back to shareholders so far, well we haven't seen any of this back to us so far and the only thing that has happened is the SP going down from £1.40 to 70p ish.
I think I would have liked a 3p divi instead, but sooner or later the SP must respond.
Hope tbis news starts recovery to a fair valuation
Up-date looks really good for a change.
Sales up, profit up, Debt down, and at the moment it looks like everything is coming up roses in the garden.
Now let's see the SP go back up to £1.40 where it belongs.