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Patience required
Soon
I have been accumulating shares in UKR, not many I know but when I can I buy as a support for Ukraine.
The fact they are still producing and getting food products out is amazing considering all that is going on.
Keep going.
....unfortunately the small profit is in fact a loss - operating profit is £170k but finance costs are £440k.
The exchange rate gain is £599k which makes it look as if it made a profit.
I have held these for a number of years and several times it looks as if the profit might break out but hasn't, slowly sliding in overall asset and share value.
In today's circumstances with some big loans for previous new equipment to pay off, I'm afraid it will be many more years before any material headway will be made.
I will still hold as the value is small, but have effectively written it off - no regrets but most unfortunate.
Share Price: 1.94 Bid: 1.50 Ask: 2.00
Interesting .
Should be at least 3p , barring stray Russian ammo .
More kvass please
Outstanding
For FY 2021, consolidated sales stood at £52.0 million, down 6.3%
Although profit is low , where there`s life etc .
MCAP seems distressingly small .
Outstanding value
Hi Jan,
yes fingers crossed - a pretty difficult trading statement, but about as positive as you could expect in the circumstances.
Just hope the madman next door can be stopped by all of the countries realising he is bringing the worlds problems closer, without any long term benefits to anyone, (including himself)!
hoping this can survive then thrive !
Hi CJ66,
Good to see that you are still around.
I plotted the factory locations in Ukraine and noticed that they are West of Kviv. That being the case then there is a good chance that the Russians never got to them to "trash rhe facilities". Maybe then the factories could be up scale production relatively easy. The problem may be people/workers. Many have left Ukraine. Do they have the workers available to run the business and who will they sell too ? The next update will be key.
All the best,
JAN
mmm...might be worth a punt if it wasn't already really struggling before this.
I do already hold some shares and have kept them, but events going right back to a large euro loan that turned sour with a deflating currency, loss of crimean and eastern market sales, wider ukranian corruption and russian meddling has made a potentially good company really struggle with consistent bad luck even before this terrible event!
I've got to admit to being tempted to take a small position here. I'm also debating Enwell Energy as a small punt too. Not sure what's holding me off though to be fair.
Surprised more folks are not trading this one. Potential for huge gains if Russia-Ukraine reach a peace deal. Up 10-30% already.
.....good bit of foresight, he seems to have invited himself in now - who needs enemies when you have friends like this!
Not quite sure what happens to the company from here on, but it's course looks just about run.
Have to feel remorse for all of them.
Not gone private, surprised me . Along with the fact that the share price has not dropped a lot further due to Putin being on the door=step !
Unfortunately the Atlantic Councils summary of Ukraine's promising performance has evaporated with President Zelevskyss decision to sack his reformist government in March 2020 and the Constitutional Court '...ruthlessly dismantled the whole framework of anti-corruption institutions established since 2014'.
The result is a devaluing currency and virtual drying up of any foreign investment - although it has not faired too badly by comparison with covid 19. = Looks a poor case macro economically
This must be about the unluckiest share on the market...having been scuppered by events in Ukraine just after having taken on a big euro loan, it was recovering nicely through the skimmed milk price rise.
Now Covid 19 has meant the price of skimmed milk has now plunged by 40% in a couple of months.
I suppose at least being a food product it will be able to carrying on producing, but the cash position is still fairly precarious. Surely it's luck must change one day...
Hi 60p
Well this is definitely my only share that is higher now than a month ago!
The end of year update figures bore through.
Again £1m of the profit is 'not real' being currency movement, but even so it leaves a £1m profit and higher assets and cash.
It's still in theoretical default of it's euro loan, but this is on an agreed basis.
All in all it looks great - just shame about all the other shares I own....I hope you have had a little more luck.
Hi CJ66,
Thank you for your kind reply and information you detailed in it !
Possibly year end trading update in May and the full 2019 results are due in June.
With the positive change in market pricing for skimmed milk powder , then this could be the "trigger" for a re-rate here.
On my watchlist. All the best.
60p
Hi 60p,
the included currency movement distorts figures, but they did add cash.
If they can add more it will have a double whammy of both lowering the debt burden as well as adding to NAV.
I have now picked up some more shares so will sit and wait.
My main focus as mentioned before is the skimmed milk powder pricing.
In 6 months at a gross profit level - the rest of the company produced £2.6m of profit, whilst the milk powder lost £690k.
This is important as after expenses, interest (excl. currency) this led to a minimal £131k pre tax profit.
With skimmed prices for 2019 up by an average of 40% (and so far 2020 up 74% over 2018), you can see how a profit from the milk powder would transform the pre tax figures and make the share price look absurdly low.
Its not quite the Palladium, Rhodium price spikes, but looks fundamentally sustainable as the monthly average price has risen every month on the previous month since December 2018.
(The skimmed milk powder is a by product of the cheese making - so is produced whatever, and not a choice of whether to manufacture or not).
I'm now hopeful that this can make an exponential recovery - barring the founders taking it private...!
Hi CJ66
The last accounts show a net asset value of £1.3m With just over £300k being added in the first 6
months of 2019. If they added another £300k or more in the last 6 months of 2019 then the net asset value will jump to over £1.6m at the end of 2019. We could see a small rise off that . Any big move up will only come when they can start adding big numbers to the NAV annually. Maybe in a year or so. Just my thoughts .
ALL THE best .
Hi 60p, and yes high risk as we discussed - as you say next results will show if they are recovering or just pedalling nowhere - whatever it's a slow mover with no risk of a crowd!
I hope pride and a good turnaround in the business will ensure that they keep their listing in London.
All the best.
I will post if and when I buy.
The next reults could be a game changer for the SP.
Still a risk though.
Hi CJ66,
Yes I saw the drop. Still watching.
Well done for the good buy
6op - you were right - I purchased the shares at 2.34p!
Relatively small value, so hope they recover with no buyout, and pinning my hopes on the increasing price of skimmed milk powder - the things I do !!
Hi 60p,
sorry busy Christmas so slow reply!
I agree that the biggest danger is delisting - particularly as the Market makers are making it virtually impossible to trade with the spread and as you say the listing is costing money with little hope of raising any more with an equity raise.
Certainly I remember reading one of the annual reports and 1 of the Directors was educated at I think a Cambridge University - as mentioned previously I think the plan was to gain the credibility and then when they joined the EU....
How things can change!
It is a shame, because if you see the one loss making part it was the Skimmed milk powder - but just google 'skimmed milk powder price graph' and it's now over 50% higher than last year. This could mean an even better 2nd half, but I'm not sure if you can risk the combination of delisting and silly buy / sell price - it's a rather frustrating dilemma....