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looks like start of the next leg up...
Still there are Some Big Trades (1m) are going through and no news yet!!
Still there are Some Big Trades (250K) are going through and no news yet!!
5.5m ‘sold’ on Thursday and another 3.3m ‘sold’ on Friday.
Any ideas why TR1 hasn’t been issued or why the ‘buys’ aren’t showing up?
Given the share price keeps creeping up, I’m assuming there’s going to be a load of delayed buys working through the system?
We’re approaching 10% of total SiS shares being traded this week now.
Some interesting commentary re sports nutrition businesses this morning from Kelso (investment company which has recently bought a stake in THG)- the EV/sales metrics reflect very favourably here albeit we are tiny in comparison
https://www.investegate.co.uk/kelso-group-holdings--klso-/rns/update-on-thg-investment-and-placing/202304210700039829W/#
Its starting to look like the 7p was a bit of an anomaly
Interesting presentation from the site visit- all looks very promising on paper! Disappointed with the lack of PDMR purchases "down here"....
There are some Late reporting of Big Trade (2m). Someone is building the stake. Probably a bid is very close.
Chunks of just over 1% of business being bought everyday recently, must be due a TR1 shortly?
Site visit will be more about maintaining relationships and showing the institutions what they’ve spent their money on. Might even be a few new faces / institutions.
Interesting to see if this sparks any movement in institutional stance post visit.
Pack is broadly in line with what I’d expect and have seen previously. My main take out from it is 40m protein bars are being moved from external to internal manufacturing, that’s a lot of value being returned to the business!
Hi,
Thanks for posting the presentation.. So it seems very good look ahead. Probably some bidder is in the horizon probably @50P.
presentation has been published here: https://www.sisplc.com/results_centre/investor-day-presentation-18th-of-april-2023/
So what does it mean the Investor Site Visit? Does it mean they are showing to a possible bidder?
Another 2m in addition to Fridays, it’s like someone’s building a position in the company at these crazy low prices ;)
Some mysterious big trade is going through today!!!
And who snaffled another 1mil shares on Friday!?
Whilst we’ve not seen cash position yet, I’m hopeful that we’ve seen the end of cash drain as:
‘The Board has agreed a business plan which has been developed to regain growth levels of former years and step change margins to build profitability to industry benchmarks’ That’s some pretty big benchmarks - AN, Protein Works etc all make decent profits.
Then:
momentum is gathering, as evidenced by a record March revenue of £7.2m (FY22 £6.4m) and current trading performance in April. This beats estimated cut off point to deliver profit.
So:
A further trading update will be given when the Company announces the 2022 annual results prior to the end of Q2 FY23……
I’m expecting that we’ll get an update for the drop in cash between Sept22 and Feb23 (hence no update on this) and then a look at the ‘profit’ we’ve been making Mar/Apr/May
What would you value a profit churning SiS business with investment phase finished, sales growing and profits being delivered, I’d put that at many many multiples of current share value.
Watch outs for me are TR1 from Stephen Granite, any director buys as they’ve set their stall out and any ‘inventive’ plans they set out whilst share price is at rock bottom.
Anyway, times running out as firm guidance has been given, update will be given in the next 11 weeks.
"at the core, there is a good business and product here it is simply being badly managed in my opinion."
Exactly!
I'm also intrigued re current cash position- the placing appeared to be conducted on the premise of sufficient liquidity in the case of further economic downturn and more increases in input prices etc- well this hasn't come to pass and it appears we've seen an uptick in performance since so I'm hopeful (but keep in mind the chequered history)
I still don't rule out a bid (with the end of the offer period) - keeping my eyes open for any stake building as the shareholder register is full of disillusioned instis (see baillie Gifford)
Laura I’ve been here a while - pre PHD purchase.
I’ve seen them issue equity to pay sports stars in the past - unbelievable really. They have a history of tapping shareholder for never ending cash burn.
Frankly I was glad to get my money back at ~75p
So whilst I am back in, because 7.45p felt far too cheap, I do look at this through slightly jaded eyes.
I have learnt that cash is the key metric here and two updates without a mention of cash is a real concern.
My problem is, at the core, there is a good business and product here it is simply being badly managed in my opinion.
Thankyou for the balanced summary
I am slightly up on my purchases last week and will continue to hols
Positives -
great March revenue;
we have a business plan;
we have a state of the art factory;
Putting prices up
Negatives -
poor Jan and Feb revenue;
Quarterly revenue run rate will not get to break even
no update on cash;
no update on lending facilities;
no approaches after being in shop window for 6 months
As for director buys close to 2 years since the last one
A drastic improvement- we have revenue growth and what looks like a hugely significant increase in contribution margin (I also like the fact they're starting to use such a metric)
I was taken aback how profitable Applied nutrition were when looking at their accounts off the back of Granite taking a stake- this has to be something to aim for here
I concur re director buys- the whole board have taken the p*ss here over the years- if they don't step up down here then they never will
unfortunately no-one seemed to share their belief that the company is undervalued, the killer line is at the bottom:
"The Board confirms that it is not in receipt of any approaches for the Company at the date of this announcement"
they have no choice but to put a spin on it and carry on, you might get a small rise but not one that is going to rocket imo
Let's hope now the offer period has ended we see some director buys
"Trading in the year to date, as further noted below, indicates that the business is responding well to the new plan, with growth across both different geographies and sales channels, price increases, and lower costs attributed to the recently commissioned manufacturing and distribution facility, all contributing to improved profitability".
~~~~~IMPROVED PROFITABILITY~~~~
Cracking update, profitable growth and latest numbers are looking very promising. Carry on like that and no more raises needed.
Guessing Baillie Gifford just wanted a sale?