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When people get depressed and they can afford it they eat more Banana's. And everyone in the country is probably depressed.
£2.17
€2.25 per share all in.
Babs is this not a bagger from these levels??
wow... nice rise!
We view Fyffes’ entrance into the North American mushroom market as a positive development. Fyffes has invested c.€140m to build out its fourth product category, which is forecast to add c.26% to EBITA on a pro-forma basis. The mushroom category has displayed good value and volume growth in North America and has favourable investment characteristics that appear defensible. We believe Fyffes has acquired high quality, scarce assets in an attractive industry via its investment in Highline and All Seasons. Highline and All Seasons acquisitions make Fyffes a scale player in North American mushroom market On April 1st, Fyffes acquired Highline Produce – the largest mushroom producer in Canada. It paid CAD$145m (€98m) to acquire the company, which equates to 8.1x pro-forma EBITDA of CAD$18m (€12.2m). On September 8th, Fyffes acquired All Seasons – a mushroom producer in Western Canada. Fyffes paid CAD$59.1m (€41m) based on a 7.5 times multiple of its 2015 reported EBITDA of CAD$7.8m. On a pro-forma basis, the acquisitions are forecast to add c.26% to EBITA. The combined volumes of Highline and All Seasons will make Fyffes the clear market leader in Canada and one of the largest producers in North America. Also common to both businesses is the scope to produce premium and organic mushrooms via ‘Dutch-style’ growing systems with full integration in composting and substrate. Attractive industry characteristics The North American mushroom market has a number of attractive investment characteristics. The market for fresh mushrooms in Canada has grown 36% in volume terms since 2011, while the US market has grown volume by c.15% over the same period. There has also been moderate price inflation in the category over the past five years. The North American mushroom market is highly consolidated at both grower and retail level, and there appears to be capacity discipline among the market participants. Barriers to entry are high due to the large capital investment required for greenfield production, making the sector unattractive to new entrants – it makes more sense to buy an existing player than to build new capacity. Vertical integration across all phases of production allows Fyffes to capture producer and distributor margin – an approach that is similar to that taken in its melon and pineapple categories. Equity raise signals appetite to grow further On September 16th, Fyffes placed approximately 31.45m shares at €1.50/share (c.10% of the shares outstanding prior to placing) to maintain balance sheet flexibility for future growth opportunities in both its existing and new product categories.
Due this Friday 07:00. www.ise.ie Hopefully the results will be even better than TOT figures on Tuesday
2016 – The Great Irish Share Valuation Project (Part I): Company: Fyffes (FFY:ID) Last TGISVP Post: Here Market Cap: EUR 477 M Price: EUR 1.605 https://wexboy.wordpress.com/2016/04/26/2016-the-great-irish-share-valuation-project-part-i/ Price Target: EUR 1.46 Upside/(Downside): (9)%
Highline is Canadian
I have held this share for about 15 years, I think if someone came up with the right money they could both be taken out. £2 or €2.50 would be a good starting offer this time next year. Live the dream!
Actually they have just bought one of The USA's biggest mushroom producers. This makes just four products they have. Together with the 'Sister' company Total Produce, they are quietly becoming the dominate fresh produce company globally. If the share where not in a Families control this would be a ripe take over target.
and not just because they bought another melon farm
Due this Thursday.
The last trade was at £1.02 so why is it showing £0.95?
Sister companies, both have run up well recently, I wonder will we see any action soon? I hope so.
Fyffes hikes profit forecasts as price rises bear fruit: Fyffes, the Irish banana producer, has bumped up its profit forecasts by as much as 20% after pulling off a wave of price increases on its fresh pineapples and bananas.
What happened? Now Bid 86 Ask 91
I dont think so....traded these ages ago and had a nibble again...steady grower, nothing flash, just reliable.
Share price of sister company TOT (Total Produce) also moving up, their results should be due shortly.
The results are now due on Friday 27th March
Due next Thursday. Share price has be slowly rising in Dublin.
FFY closed at 117 in Dublin on good volume. News on the way?
Something about to happen? Just checked prices in Dublin , FFY now 114.50 on good volume, TOT (Total Produce) 105
More price momentum,but still undervalued,very low volume.I guess there might be a problem when it hits the area people bought at last summer and last autumn for a Chiquita adventure.The Transaction in their own shares was good to see.
Still rising, Davys had a report to-day however as I am not registered I couldn't access it however I think it was quite positive.