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I first tipped this at 265p and, in just twelve days, it's already up 11% ...but I'm not in yet. Please hold up!
Thanks Libero. I have been in recently at 273.00 on the zulu principle and naked trader type criteria. I am sure we will do well as always with such positive new on PIL.
Growth at a reasonable price with Produce Investments A potato growing company called Produce Investments (PIL) has just qualified for the both the Zulu Principle and the Naked Trader screens. It exhibits the characteristics of a classic growth stock at a reasonable price, with respective trailing and forward P/E ratios of 5.8 and 7.1, despite the fact that earnings per share have grown by more than 1,300% this year. Sales have also grown by 25%, while earnings are expected to grow by another 16% over the next twelve months. PIL’s cheapness could perhaps be attributed to weather related issues that affect potato price volatility. On the other hand, the company does meet Jim Sater’s qualitative criteria of offering ‘something new’, in this case, a new acquisition. On 16 May, PIL’s announced plans to acquire The Jersey Royal Company. Management insists that “Jersey Royals are a widely recognised brand in the UK”, and the takeover could strengthen the company’s product offering and broaden its consumer base. Produce Investments (PIL) also meets another qualitative Zulu criteria, namely a positive outlook from the chairman. PIL’s interim report for H2 2013 noted that “the business continues to perform ahead of expectations, with integration plans completed ahead of schedule.” Management also insists that the company is “on track to meet market expectations for full year.” http://www.stockopedia.com/content/guruscreens-upgrades-amp-downgrades-june-3rd-83757/#sthash.phAErz9r.dpuf
....will be very interesting IMO. Publication of full year results end of Sept which are expected to be in line with city views, and it may be possible that IC has a look back at last year's buy recommendation issued on 10th October 2013 (buy at £2.21) and compares current share price (£2.82). A further positive recommendation could well spur on this lightly traded share. As always, tread carefully, do your own research and don't risk any cash you can't afford to lose.
At 263p / £70.2m Based on 2013 figures: PE = 9.3, EV/EBIT = 13, and TNW = £16.2m (23% of market valuation) H1 2014: Revenue was flat but Operating Profit rose hugely year on year, as did the PBT. H1 PBT was £5.38m (up from a loss of £1.25m) Therefore FY 2014 may well be H1 PBT times two = £10.76m But, presuming H2 2014 is flat year on year, we can do this sum and H2 2013 + H1 2014 PBT is equal to £14.24m Lets call the first guestimate a) and the second b). This gives us a) 2014 EV/EBIT = 9.4, and b) 2014 EV/EBIT = 7.1 The former is good but the latter is mouth-wateringly cheap! Based on 2014 guestimates: forward PE is 7.3 (Paul Scott said as such) and I’ll take him at his word, forward EV/EBIT is 7.1 to 9.4, and TNW is a third of the market cap (which isn’t great but isn’t too awful either). There’s additionally a 2% yield on top. Now, trying to take account of the recent acquisition, lets add £15m to the EV and they said it’ll be earnings enhancing so lets say £1m to the profit (that’s conservatively picked between the two figures they gave us - £0.1m profit in 2013, and £5m in 2010). The EV/EBIT ratio then become as follows: a) 9.8 or b) 7.6, which is still bloody good. So, in conclusion, I think that – whilst I reckon PIL may have overspent on their acquisition – I still consider this company to be very cheap in a variety of ways.
Hey Dog, I think holders have cashed in their chips after the small director sell. When I saw the director trade I was tempted to sell myself. I think these will be tasty long term and paid a nice divi already. The acquisition should be cash generating immediately. My only fear it they will have a problem digesting the new company. But as I said, if you trace the decline on a chart you will see many shareholders seem to have said " See you later, baked potato" as there has been a wave of selling.
Can anyone tell me please why the share price has dropped so much recently. Have the potatoes developed blight?
08 January 2014 Produce Investments plc (the "Company" or "PI") Press Speculation The Company notes the recent press speculation regarding a potential transaction with the independently owned Jersey Royal Company and can confirm that the Company has entered into heads of terms (the "Heads of Terms") and has agreed a period of exclusivity in relation to a potential acquisition of the Jersey Royal Company. The Heads of Terms are non-binding and subject to due diligence which is progressing. The Company will make a further announcement in due course if appropriate. For further information contact: Produce Investments plc Contact: Brian Macdonald Telephone: 01890 819513 Shore Capital & Corporate Limited (Nomad to PI) Contact: Step
Looks like a very lightly traded share and so any kind of buying pressure will raise it pretty quickly. Only recently floated, so most of the shareholders will be employees or big funds. A low PE ratio - looks underpriced to me.
Produce Investment (PIL) Director name: Mr Derek Porter Amount purchased: 10,000 @ 150.00p Value: £15,000
Any one know why this share has risen today.
Noticed this company pays decent dividend and more shares being traded daily after a year on aim.
LOCKS THE LOT OF YA - IS SAY PILLOKS
ES ARE SWOLLEN
LOCKS!!!!