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Absolutely cracking set of results yesterday, deserves a much higher rating IMHO. Diversification has paid off in spades. Fantastic Real EPS growth (not EBITDA nonsense) and useful increase in the dividend too - wots not to like ?
IMHO DYOR. GLA.
Looks good with revenue growth across the board, with confidence about further progress .
Link to Edison report on recent earnings enhancing Animax acquisition.
https://www.edisoninvestmentresearch.com/research/report/carrs-group181374/full
Many thanks. I have a year to get organised and attend next AGM.
Yes in Carlisle each year In answer to your question of why so diverse - it's in the history - a conglomerate more by chance and natural evolution over a long time. The same sort of history with varied results applies to NWF & Wynnstay (which are also worth a look for those looking for slow but steady) Apparently they were founded in 1831 - but all focused on aspects of farming and the areas evolved - in short animal feed (and just sold big flour business) evolved from an original food mill & baking / Engineering from mending farm machinery and move up the chain to increasingly sophisticated engineering with acquisitions / fuel - farm and domestic supply, then consolidating aquisitions..... I bought these about 15 years ago at around �2.50 before a 10 for 1 share split = circa 25p equivalent today. The real money makers bought around 2001 - end of the world foot & mouth for animal feed companies - shares dropped to 70p or 7p equivalent - I'm still looking for that crystal ball today - but can't complain with any of the above 3 companies shares purchased....
Was the AGM in Carlisle? Just curious. Not too far away and would be tempted to attend next time.
And apologies for all the typos. I had a case of premature fat thumb. I hope the gist is clear anyway.
Many thanks for taking the time to keep us informed. It sounds like wechave finally got all our ducjs in a row and I am optimistic thst we can continue tp progress frommhere
Just back from AGM where they discussed their Trading Update today. The Board were upbeat about the high quality of Senior Management they have been recruiting. This includes a highly experienced Managing Director for the Engineering Division. Engineering They are excited about prospects for USA. The potential market is large for W�lischmiller/STABER equipment if it is manufactured and assembled in the USA and marketed with NuVision products. UK manufacturing activity has bounced back strongly. Agriculture UK is performing well and UK feed blocks are strong. USA feed block sales recovery improving. The new highly efficient Tennessee Plant is serving an new geographical area and already working 24 hrs a day. Continuing feed block growth in NZ with plans for a plant when volume justifies this. Efforts to develop markets in S. America are taking place. Limiting of antibiotics in cattle will mean the need for higher health and nutrition standards. This plays into Carr's strengths Brexit Firstly Carr's serve international markets and more than 50% of their profits are overseas. They are investing to grow these businesses. The current UK government statements are indicating any changes will occur over sufficient time for planning to take place in their implementation. At the end of the meeting all the attendees I spoke to a seemed positive and upbeat for the future. Omerta -For further info on Carr's suggest you look at their website. http://investors.carrsgroup.com/ Presentations/Analyst Coverage
> for your insight and thoughts... Given your long association with CARR is there a simple reason why there is such a wide diversity of interest within the group.? Radio-active cows in Cumbria seems a remote prospect.!! Seriously, I am endeavouring to investigate the company having been alerted by the recent share purchases of the Financial Director.... Your further comments and thoughts would be of interest.......Thank you
Carr's is a local company and the things I hear about it, first hand, are all positive. Have been a shareholder for 20+ years and seen tremendous growth. Chairman is ex-MD and a shrewd and steady hand. In recent years their sale of two large operations ( Fertilisers and Flour Milling) reduced turnover and earnings, but got handsome prices for mature and low margin business with little growth prospects. Company is well run and well invested in growth of existing operations and the high tech. nuclear/energy sector. It is diversified both in market sectors and geographically. It is exposed to agricultural cycles, currency fluctuations and competitive engineering manufacturing. The two hits last year were USA cattle prices leading to falling feed-block sales (now reversed), and unexpected delays in the start of a manufacturing contract. This may have led to underemployed resources and the taking on of less profitable work to keep highly skilled staff employed. I sleep soundly with this share in my portfolio. The farming and nuclear sectors are more stable that the wider economy hence the low Beta of 0.21. In terms of risks, Brexit is a potential cloud on the horizon for farmers profitability. The EU protectionist food trade tariffs are a barrier unless we get a good trade deal. This is a quiet board as the share seems to be held as a core long term investment, holding rather than short term speculation. The Directors buying looks like a positive endorsement of their view of the future prospects.
> has every one gone quiet on this board? I see the share price has been dull but... Am new to CARR having recently seen director buying, and it seems as if posters have a good opinion of the BoD Any thoughts pls.
had this in the past also....always liked the company. If I'd caught the drop at 106ish today, I would have bought a few. Definitely back on the buy radar for me but only watching for now.
Thank you Jarcon . Have had this one in past but sold couple of years ago . Always rated company highly but results today a worry . Tempted though.
honestly at this point it would be taking a chance - until we see the extent of how significantly below expectations this periods results are - at this point it's merely guesswork till the results come out on the 12th. Of course, if you're thinking for a long term hold, then it's probably worth the chance as most of the issues appear to be temporary. As for me, I'm fairly down after todays drop, but I'm not planning on going anywhere, going to hold till I'm back in the black at the very least.
A good entry point ? Any views ?
Thank you Martina. I missed a really good entry and should have jumped in when I posted. I am waiting for it to retrace a little before I take my first nibble!
Only a personal opinion, but I believe that this is one of the best managed companies in the whole of the UK equity market. Management are fantastic, it is on a p/e of less than 13x, yielding 3%, which is steadily increasing, with rising dividends and has got out of the Flour Milling business , which was a drag on earnings for SO long. Now a play on Nuclear power production and oure farming supplies, rather than food production. Wud hav no hesitation in recommending it at all, at any price under 190p. IMHO, DYOR. GLA.
Hi all, I have been tracking this share for a while after a recommendation by a major shareholder. This looks like it is getting close to a good entry point and I am looking into as much research as possible. Any information from LTHs on current situation and price before I make a call on it? Thanks
Hi all, I have been tracking this share for a while after a recommendation by a major shareholder. This looks like it is getting close to a good entry point and I am looking into as much research as possible. Any information from LTHs on current situation and price before I make a call on it? Thanks
SP looking good and can see a nice lift by Xmas,
Not long to go before the ex divi approaches on 15th Sep. Carr will be paying special dividend as well as normal dividend on 7th Oct, tasty.
Excellent decision to get out of flour milling very low margins, A nice return of 17.5p per share most welcome.
Who have decided that further investment, to become a consolidator in the food industry, is better deployed by seeking growth In higher margin areas.
This is one of the best companies in the UK market, if not the World. Quality of management is outstanding - and its still DIRT CHEAP on a P/E of 11x and 3% yield. Buy some whenever it dips for yor ISA & relax. ! IMHO, DYOR, GLA.
Mixed bag today although increase in divi and Board's confidence about the future are positive. Edison have revised their target to 197p so still plenty of upside.