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Singer Capital initiated coverage of Genus (GNS) with a "buy" recommendation and 1,678p target price. The broker sees considerable growth potential for the animal genetics company in developed markets, as well as emerging markets such as South America, Russia and China. Singer added that the Indian market is a key medium-term opportunity for the group's dairy division, as it is the world's largest milk consumer. The broker noted that the firm is continuing to reduce debt and expects it to have a net cash position by 2019. The shares advanced by 37p to 1,371p.
Genus, a global animal genetics company, has said that its porcine genetics division, PIC, has signed a joint venture (JV) agreement with Shaanxi Yangling BeSun Agricultural Group, an integrated pork producer in China, to partner in the operation of a large 4,250 sow nucleus farm in China's Shaanxi province. The JV, which will see Genus become a 49% partner through a cash investment of about £8.7m, has been formed to expand Genus's porcine business in China, in line with its new corporate strategy to focus on growing key markets and segments such as the Chinese integrated pork producer segment. Genus plans to increase its share of the large Chinese pork market, where around half of the world pork consumption occurs, from its small existing market share of around 1.0%. The JV farm will be managed by Genus, ensuring that its intellectual property will be protected. The JV will produce grandparent sows with the output from the farm being used proportionally by the JV partners, approximately 50% each, Genus's share of the output providing important additional volume to support its growing sales of breeding animals in China. Once in full operation, the herd will underpin production of 10m slaughter pigs per year.
Panmure Gordon lowered its stance on Genus (GNS) from "hold" to "sell", with a reduced target price of 1,190p from 1,275p. The broker noted that, on its forecasts, the animal breeding specialist's shares trade on a prospective earnings multiple of 26.3 times. Panmure warned that feed costs are likely to increase significantly in the short-term as a result of the drought in the US, while pork and milk prices have fallen and trading is likely to remain difficult for the next three quarters. Shares in Genus inched down by 12p to 1,337p
CONT With pricing generally firm, adjusted operating profit has improved in line with expectations despite increasing investment in research and development and in strengthening management teams across the Group to support future growth. Profits have improved strongly in Asia, particularly in Russia and China, and in Latin America. The Group's businesses in North America have also performed well with improved royalty income driving growth in porcine and good pricing discipline and cost control in bovine more than offsetting the softness in that market. Europe has performed broadly in line with the prior year. As indicated in the Group's IMS on 3 May 2012, a new strategy, designed to achieve an improving rate of growth from 2014 onwards, has been developed centred around four key elements; improved product differentiation, targeting key markets and segments, tailoring the business model and strengthening core competencies. The strategy envisages strong growth in emerging markets, particularly in China, where discussions with potential new customers in relation to porcine joint ventures are progressing well.
Pre-Close Trading Statement 'On track to deliver market expectations' Genus, a leading global animal genetics company, today provides the following update on trading for its financial year ended 30 June 2012. Trading Genus has continued to perform well in the final two months of the financial year since the Interim Management Statement (IMS) issued on 3 May 2012. As a result, the Group expects to report a good performance for the year to 30 June 2012 with adjusted profit before tax in line with market expectations. In the year to 30 June 2012, revenue has continued to grow both in porcine and bovine with particularly strong growth in Latin America and Asia. Whilst there has been a modest tightening of margins for some of Genus' customers towards the end of the year, market conditions and customer demand have remained good in most markets although some softness has been experienced in bovine in North America.
http://www.investegate.co.uk/Article.aspx?id=201207040700098517G
The same broker has cast its eye over Genus ahead of the pig and cow semen seller's interim management statement, and is expecting the company to announce another good year of progress. Peel Hunt's forecast is for 12% earnings growth. "Markets are generally less helpful to farmers, particularly in dairy due to commodity price movements. However, US hog prices are close to highs reflecting higher corn prices," Peel Hunt not
why is this going down? there hasnt been any bad news or any news at all.
MORGAN STANLEY SAYS... Overweight. Our bull case valuation - at 1,790p - assumes that Genus meets its aspirational earnings growth target of 15 per cent year on year throughout the decade. But there are strong global themes to drive that thesis. These include population growth and rising food demand, industrialised farming methods and sector consolidation among food producers, as well as emerging markets growth, coupled with a shift there towards western-style diets - that is, more dairy and meat consumption. Expect EPS to rise to 52p for the year to end-June 2012, from 44.1p in 2011. PEEL HUNT SAYS... Buy. The share price rating does look full, but the longer-term growth opportunity remains compelling. Genus is the global market leader in this business and is increasing its competitive advantage. In fact, the company boasts a number of strategic advantages, such as its genetic lead and international presence. Moreover, research and development initiatives provide the opportunity for step-changes in market share and profitability. Genus looks increasingly well positioned to take advantage of growth opportunities. The price target stands at 1,500p and expect adjusted EPS for end-June 2012 of 50.8p. Read the full article here: http://www.investorschronicle.co.uk/2012/05/04/tips-and-ideas/share-tips/brokers-tips/genus-trots-ahead-Q36sj210pjtXIW4byMPEGO/article.html P.S. Here's a couple of links about SCLP, one of the hottest stocks at the moment: http://www.euroinvestor.com/community/discussionthread.aspx?threadid=252803 http://www.euroinvestor.com/community/discussionthread.aspx?threadid=253089
GENUS AIMS TO PIG OUT IN CHINA In the porcine market in China, Genus is already in discussions with a number of leading integrated pig producers looking to improve the quality of their genetics and expand their production. These discussions envisage the creation of joint ventures with these producers who will use a significant proportion of the breeding animals produced by the joint venture to build their own pig production system. Genus has concluded that this type of structure will enable the group to provide its genetics in a manner that protects its intellectual property and enables the introduction of a royalty model that Genus already operates in its porcine business across other geographies. Read the full story here: http://www.sharecast.com/cgi-bin/sharecast/story.cgi?story_id=20072621
Genus Provides Interim Management Statement, Strategy Update Genus Plc (GNS.L) issues its interim management statement for the period from 1 January 2012 and also an update on the Group's strategy that has the objective of establishing the framework to enable an improving rate of growth from 2014 onwards. During the period since 1 January 2012, Genus has continued to trade in line with the board's view and ahead of the prior year. Overall demand for Genus' products and services has continued broadly in line with that experienced in the first half of the current financial year. In North America, the porcine business has sustained its positive momentum with volumes up by 10% leading to a similar rise in royalty income. Improved average selling prices and tight cost control have enabled bovine profits to progress despite volumes at broadly the same level as last year. Source: http://www.rttnews.com/1875299/genus-provides-interim-management-statement-strategy-update-quick-facts.aspx?type=qf&utm_source=google&utm_campaign=sitemap
John Worby, Group Finance Director of Genus, the FTSE 250 animal genetics firm, has sold 43,000 shares, half of the amount he vested earlier this month. Worby sold 43,261 shares at 1,318.41p each for a total of £570,357. The sale was made further to the vesting of 86,523 conditional nil-cost share options on March 5th under the company's performance share plan. The remaining 43,262 share options that vested under the plan have been retained by Worby.
N+1 Brewin raised its recommendation for Genus (GNS) from "hold" to "add" with an increased target price of 1,365p, from 1,034p. The animal genetics specialist reported 21% pre-tax profit growth for the six months ended 31st December 2011 to 21.5 million pounds, beating the broker's forecast of 20 million pounds. Brewin noted considerable expansion prospects in China where large scale pig production is expected to grow from 35% of the market to over 50% by 2015.
Genus Sell 21-Feb-12 £213,344.09 Karim Bitar 19,134 @ 1,115.00p
Panmure Gordon reiterated its "buy" recommendation for Genus (GNS), with a target price of 1,070p. The animal genetics firm achieved earnings per share growth of 22% to 44.8p, 5% greater than the broker's forecast of 42.4p. Panmure notes that the increases in hog and milk prices in the US are more than offsetting higher cost of feed, but feels that prices in China have risen too high to be sustainable. As a result of the performance the broker has increased pre-tax profit forecasts for 2012 from 43.7 million pounds to 44.2 million pounds.
http://www.stockmarketwire.com/article/4215835/Genus-profits-jump.html
Richard Wood, Chief Executive, commented:- 'In this my final year as Chief executive, I am pleased to report record results with adjusted pre-tax profits up 19%. In addition, good progress has been made in laying the foundations to realise the growth potential in developing markets particularly in Russia, India and China. This together with our global footprint and market leading genetics leave the Group exceptionally well placed to continue its growth in the years ahead.'
HIGHLIGHTS · Record results with strong growth in sales and adjusted profits as recovery in agricultural markets continued · Adjusted operating profit including joint ventures up 7% to £45.3m: o Bovine volumes up 11% and porcine volumes up 6% o North America and Latin America led recovery with double digit profit increases o Strategic investment in research and development increased by 8% to £25.3m · Adjusted profit before tax up 19% to £39.0m and earnings per share up 22% to 44.8 pence · Improved cash generation o £17.0m cash inflow before £7.0m swap settlement cost o Net debt reduced to £67.9m (2010: £80.0m) · Good strategic progress in developing markets: o Regional management strengthened in Far East and Latin America o Bovine stud acquired in Russia became operational in August 2011 o Production and marketing of locally produced semen started in India with encouraging initial sales · Recommended dividend increase of 10% to 13.3 pence per share to be paid in November. Board expects to declare an interim dividend for the first time commencing in 2012 · Statutory profit before tax in line with last year because of a smaller increase in the net IAS 41 valuation movement of biological assets, higher share-based payment expense and reduced exceptional gains
http://www.investegate.co.uk/Article.aspx?id=201109060700076492N
Tuesday witnessed a sharp bear trap rebound from below the initial 832p August low, an event which was preceded by bullish divergence in the RSI window. The implication now is that while there is no end of day close back below the 832p former floor the upside here should be as great as late July intraday support of 985p over the next couple of weeks or less. So reckons Zak Mir
Genus‘s trading statement Monday morning was not exactly one to set pulses racing, but the animal genetics company’s strong cash generation prompted Panmure Gordon to up its price target for the stock. Panmure leaves its profit forecasts for Genus unchanged, but is reducing its year end net debt forecast and increasing its price target from 1025p to 1070p. That equates to a price/earnings ratio of 21 times for calendar year 2012. Panmure still has a ‘buy’ recommendation on the stock. “Genus is through its heavy investment phase and cash generation has turned more positive,” Panmure notes. “We are trimming our year end net debt forecast from GBP74.5m to GBP70.5m.” The technical picture supports the fundamentals, according to Richard Curr, head of Dealing at Prime Markets. The advisory certificates for deposit (CFDs) broker notes that “shares in Genus have been in a rising trend channel since September 2010, with its base currently at 974p. While the price action remains above the 50-day moving average at 1,000p, shares are expected to push back past the year high at 1,049p and in line with the channel direction reach new year highs at 1,079p in the coming 2-4 weeks.” Curr highlights the concerns about the imminent departure of highly respected chief executive, Richard Wood, but says Wood’s successor, Karim Bitar from Eli Lilly, looks like just the man to drive the next phase of international growth. “The company has exceptional track record of growth, and even near to year highs, Prime Markets believes Genus shares are worth picking up on any weakness in the run up to the full year results at the end of September,” the broker concluded.
When it updated the market back in May, Genus, the Basingstoke-based group – which supplies both breeding pigs and high-quality bull semen to farmers – said it was on track to beat the previous 12 months, and yesterday’s brief pre-close trading statement ahead of September’s full-year results confirmed that view. Yesterday, the shares dipped 8p to 1,032p, but after gains of 20 per cent in 2011 – and more than 100 per cent over the last two years – we suspect some profit taking. The support behind the stock remains. Buy, says the Independent.
Singer Capital Markets reported on Genus (GNS), a world leader in applying science to animal breeding. Despite a "good" first half performance, the broker is keeping its financial year 2011 revenue forecast unchanged given the uncertainty of Europe's recovery, feed cost impacts and the bovine market in the US. That said, Singer continues to believe that, as agricultural production moves to the developing world over the next few years, the business will be well placed to benefit from this. Genus shares inched down 14.25p to 864.75p.
The global economic recovery helped animal breeding business Genus lift revenues and profits in the half year to 31 December. The firm posted a pre-tax profit of £19.1m, up from £15.5m over the same period the previous year, on revenues that climbed to £153.2m from £134.9m.
Just checked the rns. It was dated 12th Nov 2009 2.30pm