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With latest announcements on amber and green lists for travel, I suspect there is a good deal less science than politics involved here.
Inward tourism has been decimated and our balance of payments shot to pieces, so why would any government in that situation want to encourage a flood of leisure money abroad which could otherwise help to rebuild our economy.
The French, Italians, Spanish and Portuguese can wail all they like but after the way they have treated UK post-Brexit I for one have little sympathy for them.
You try booking a cottage or B&B at any hotspot in UK this year and not a discount in sight.
You don't need a full lockdown for PFD to continue to do well
As they should have sold more food for home eating
The reopening of indoor bars and restaurants last month failed to boost footfall on UK High Streets and shopping centres following May's record rainfall, according to new data.
Analysis by Springboard shows footfall was 27.5% lower compared to pre-pandemic May 2019.
The hospitality industry in England reopened indoors on 17 May.
But while footfall improved from April, activity was "muted" due to the weather and a limit on dining numbers.
At present, only groups of up to six people or a larger gathering of two households are allowed inside hospitality venues. And those serving alcohol must provide table service only.
Nett debt down to £332m 1.9x pension surplus £539m
Branded revenue* up +13.6% in full year and ahead +7.0% in Q4
· Trading profit* increased +11.9% to £148.3m after increased marketing investment and incremental Covid costs
· Net debt/EBITDA,3,11 (pre-IFRS 16) reduced to 1.9x, the Group's lowest ever leverage14
· Repaid £190m Floating rate notes in FY20/21 reducing interest costs by c.£10m p.a.; plus ratings agency upgrades
· Combined pensions surplus of £539.9m
· New RCF facility to 2024 and launching offer of new £300m 5 year Senior Secured Fixed Rate Notes
· Proposed final dividend of 1.0 pence per share; reinstated for first time in thirteen years
"but no one as yet have wanted to buy the whole of pfd because of debt."... and there in lies the problem. If PFD sold off every individual brand on a debt free basis they would sell them easily I imagine. But while the company still has lets face it pretty high debts I don't think an offer will appear and anyone holding for that sole reason is kidding themselves. No one can deny they've made amazing progress and are heading in the right direction but would you buy out a company for nearly 1.3B (150p offer price) when in a "normal" year they make a net income of around 70M, and you have to take on around 350M of debt, and have the added worry of the pension situation going forward and whether the surplus is enough and going to change due to inflation/life expectancy/discount rate changes etc etc.
I'm not de-ramping because at the right price I would be happy to get back in here and treat it as a boring but stable stock with a potentially growing dividend and a SP rerate due to debt decreasing over several more years. But I don't agree that the rises seen last year will be repeated again.
Yeah Jed. Bet McCormick are kicking themselves for pulling out at 65p per share. Totally different company now.
For the last 10 years or so many companies have been happy to buy many of pfd branded products like Sarsons, Branston Gales honey etc etc but no one as yet have wanted to buy the whole of pfd because of debt.
It does appear that there is always someone out there looking to grow their company buy buying up others, now if that is the case pfd in it's current position must be a target at a price of say £1.40- £1.50 before they get big and the price moves up to say £2.00 but maybe it doesn't matter about price you pay as long as it's seen to be a good long term buy and the money needed is at very low rates / cost. Who knows next weeks offer of £1.45 might be worth looking at.!!!!!!!!!
There is also a bakery at Morton no the Wirral.
Cadbury mini rolls and Cadbury’s cakes being the main production.
This was taken from a article in the local newspaper.
The report said: “Officers have recently met with representatives of Premier Foods who own a portion of the MU3 site and have expressed a desire to expand their operations in the medium term with a potential to create an additional 500 jobs.
hTTps://www.fool.co.uk/investing/2021/05/29/top-uk-stocks-june-2021/
another top up sub 106p Pretty much all in now. Will never catch the bottom so hopefully we end the day green
I’ll tell you what winds me up is all these scientists and all their different views.
OK we have a body of scientists that advice the government (sage) which is what about a dozen guys / girls , but why do the media insist on finding about another dozen to put on air to give the opposite views. It just confuses everyone.
Either we have a panel of scientists that advice or we don’t.
If these scientists had their way they would shut everything down for months to clear up the covid but that wouldn’t help any jobs. The government make the final plan so let’s just keep to it.
That's a very good point Jed. We have had both jabs but have to go through burning hoops to visit my wife's brother in a care home and even have to wear ppe in the garden,. Yet 11 of the staff stubbornly refuse to be vaccinated and are in constant contact with residents. Bizarre!
Given a choice of a possible slight increase in the PFD sp due to more restrictions, and a return to normality, I know which I would plump for.
It's been a very bad time for all but now we are at the turning point we should let it run and work with the results.
I know it's a free world so to speak but I do think we should make all hospital / carehome staff be vaccinated or lose their jobs.
You have to ask yourself just how much quiker could we have got this covid under more control if it wasn't for all those staff members who just would not have the vacine and instead carry on passing on the covid. It's funny that even now many of those in hospital are the ones that haven't had 1 or 2 jabs. sometimes in life the powers that be need to more forceful.
Was fridays stop hunting any part of the short postion reduction. Im learning a lit from how the price is manipulated and its really interesting. Ive decided to hold anyway, but love the idea that they have to close their short soon or pay the dividend on yop of the loss. Expect a rise next week as people buy back in , but understand the stop loss a lot more and how it was manipulated friday.
would not get too excited for Tuesday. This article is dated 27th may 2021, we all know what happened on Friday. Had it been a skys news exclusive then that would be something.
So we could see the sp going up to £1.12 on tuesday just on speculation of a bid, or we could see a real bid of £1.30 - £1.50 within the next few weeks. Who knows !!!!!!!
Thanks for correcting me, it would be a double nightmare if she ever worked for HMRC, we would end up with Italian tax system. Safer to have her at HSBC.
https://www.sharesmagazine.co.uk/article/it-could-be-takeover-time-again-for-premier-foods
Shares Magazine has an article on PFD suggesting it could be a takeover target.
Sorry, but I don't have a link
an unstoppable force, can see people saying if the commute is more than 20mins then do not want to go into office for 5 days. If HMRC and BOE change employment conditions for this to happen then others will follow.
https://www.hertfordshiremercury.co.uk/news/uk-world-news/hmrc-employees-work-home-part-5448577
Obviously the HMRC analyst Ms Russo does not work from home, perhaps she will work from Italy. Only drawback I can see is, people moving to other countries and working from there, with say a Ryan air flight every couple of weeks to go into office for couple of days ( staying at a premier inn hotel overnight) . Tips on Premier inn and ryan air.
Thanks Bistolover, much appreciated. Got a better idea now.
snippet - Stop hunting is relatively straightforward. Any asset with significant enough market volume will be moving in a more or less defined trading zone with areas of support and resistance. The downside stop losses tend to be clustered in a tight band just below resistance, while the upside stop losses sit just above support. Larger traders looking to add to or exit a position can shift the price action with volume trades that amount to stop hunting due to their market impact
Jed's point may hold water and we will find out next week if true. The drop was just before a busy bank holiday where volumes were very thin in the morning, also last trading day before June. Looks like last hour before close is a good time to pick up shares that are in high demand by breaking stop losses. Shares have gone up a lot so there should be lots of stop losses at a reasonable support level
https://www.investopedia.com/terms/s/stophunting.asp
Hi Jedclampit, I noticed the more buys and sells also and was puzzled of the SP drop. How can the brokers ‘drop the price accordingly’? I wouldn’t mind understanding that bit.
When you look at the sells vs buys, almost 2 1/2 times more were bought than sold so it wasn't profit taking.It's not been any big broker price target drop that we have seen.
This has happened before a few times and it's been when some of the brokers need to get hold of stock for someone so they drop the price accordingly. I think we will see this back up to £1.10 + next week and may see a holdings rns.