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This quote made me laff, those pesky 'nasties' ..

'Earnings before nasties outperformed January's forecast of £117million, rising by 48 per cent year-on-year to a record £120million, the group said.

https://www.thisismoney.co.uk/money/markets/article-13291649/THG-losses-narrow-group-ups-use-AI-automation.html?

Agreed, US inflation is proving 'sticky' although many inflationary trends are down, all the signs of a top.

China US relations appear to be on the mend, sort of if a little fractious.

I still think M & A is the most likely outcome here, so await with patience ..

Many investors read the topline figures only, and therefore do not distinguish between cash and non-cash items, easy to do.

ETX another company throwing in the proverbial towel with London market. Richard Griffiths who is holder in PHC looks to be supportive of the move.

From the consultation last year, it appears UK institutions would rather keep a London listing but at the same time show little market interest, market trades are tiny.

https://www.londonstockexchange.com/news-article/ETX/proposed-fundraise-of-ps28-9m-and-cancellation/16415632

Another company proposing to delist, ETX

https://www.londonstockexchange.com/news-article/ETX/proposed-fundraise-of-ps28-9m-and-cancellation/16415632

Its not one a week anymore, more like one a day !

It may prod FCA to get their finger out on listing reforms.

Most companies are putting out similar releases, TET today similar tone.

Results in line, exceptionals will start to drop away in earnest this year, FX headwinds require a bit more localised investment, £20m from Japanese Yen alone once completed.

There goes my ISA allowance lol

https://www.lse.co.uk/ShareChart.html?sharechart=SFOR&share=S4-Cap

S4 MkII

Similar story over at S4 when numbers release, now up 70% from lows.

Cannot see anything in todays figures to justify such a drop, all pointing the right way imo.

'The Company announced on 12 January 2024 that following continued strong trading in Q4 2023, sales and profit before tax for 2023 had exceeded previous expectations.

The Company is pleased to report that the strong trading has continued in Q1 2024.

Sales in Q1 2024 are a record first quarter for the Group, with sales to 31 March 2024 of approximately £23.5 million, 28% ahead of the same period in 2023 (Q1 2023: £18.4 million), with margins continuing to be robust and ahead of those achieved in 2023. Accordingly, given this strong start to the year, the outlook for FY 2024 is now expected to be ahead of the market's current expectations'

What a cracking couple of weeks, up what 70% from lows ?

Nice bit of advertising for CityAM, whole front page in the DM

https://www.dailymail.co.uk/news/article-13286163/Abrdn-change-corporate-bullying-remove-vowels-rebrand.html

Its all planned well in advance, many posts alluded to this ..

Not sure if the formatting will work, here are the ten PFAS pesticides found in this data were as follows:

(According to 2022 results of UK government residue testing programme)

Cyflufenamid Fungicide Grapes, strawberries

Flubendiamide Insecticide Spice

Fluopicolide Fungicide Cabbage, cucumber, lettuce, spinach

Fluopyram Fungicide Beans, cherries, cucumber, grapes, lettuce, peaches/nectarines, potatoes, strawberries, tomatoes

Lambda-cyhalothrin Insecticide Apricots, beans, cabbage, cherries, grapes, lettuce, peaches/nectarines, spinach, strawberries, tomatoes

Pyridalyl Insecticide Tomatoes

Sulfoxaflor Insecticide Apples, beans, cabbage, cherries, cucumber, grapes, lettuce, peaches/nectarines, spinach, strawberries

Tau-fluvalinate Insecticide Cabbage, cherries, spinach

Tetraconazole Fungicide Apples, beans, grapes

Trifloxystrobin Fungicide

Apricots, beans, cherries, grapes,

peaches/nectarines, strawberries, tomatoes

If we take grapes as an example, one would have thought concentrations would be higher in grape derived products such as wine.

https://www.pan-uk.org/site/wp-content/uploads/PANUK_PFAS_PressRelease.pdf

This report has made its way into todays national press, quite alarming really:

New research reveals that many common UK food items contain PFAS pesticides. PAN UK analysed the latest results from the UK government’s residue testing programme, finding that ten different PFAS pesticides were present in spices and a range of fruit and vegetables including grapes, cherries spinach and tomatoes. Strawberries were found to be the worst offenders, with 95% of the 120 samples tested by the government in 2022 containing PFAS pesticides.

https://www.pan-uk.org/pfas-forever-chemicals/

Daily Mail

https://www.dailymail.co.uk/health/article-13283885/Are-unknowingly-eating-forever-chemicals.html

I suspect the board are seeing how things pan out with distributors reordering before issuing an update, that's understandable given the volatility at the moment.

Even without the last two registrations PHC have a lot more products this year than last, we should start to see more feedback as planting starts for this season in the Northern hemisphere.

Revenue wise this year, realistically I would expect somewhere between $13-14m with a much reduced loss, Cavendish on the other hand have a revised (in Nov) figure of $16.6m along with a small EBITA profit.

Either way its clear PHC is gaining traction even in extreme (destocking) adverse markets, the last two posts illustrate the market potential with bio stimulants replacing an ever decreasing selection of traditional chemicals

M & A is also very active, something else to be mindful of as the industry consolidates.

There were two biggish moves today, S4 and THG ended the day up 8% or so, both would benefit from FCA listing reforms.

Could be just coincidence although it wasn't a broad rally, quite a few retail bits down.

10% move, triggered auction ..

Yup Nige, post was a bit frivolous on my part, brought on by a blue tinge across the portfolio : )

Its amazing how sentiment changes so quickly from results day..

Good grief, what have you started Matt !

Shell looking at “all options” on “undervalued” London listing

Shell’s chief executive has floated the possibility of the petrogiant abandoning its “undervalued” London listing.

Wael Sawan, who runs the largest company on the FTSE 100, said the embattled London exchange was an “undervalued location” as he joined a raft of global CEOs in complaining about the capital’s equity markets.

https://www.cityam.com/shell-looking-at-all-options-on-undervalued-london-listing/

On the remaining two registrations for this years planting season, India I think we have missed so this will now be 2025, California Obrona there is around 8 weeks or possibly a bit more to go before the window closes.

This is just an approximation, happy to be corrected.

ironknut, yep, funds perhaps need to see a clearer idea post over stocking, very hard to get a clear picture as the major have their own issues on top of this, AMVAC is a good example which may ultimately benefit PHC and other biostimulants companies.

On April 1, the U.S. Environmental Protection Agency is announcing its next steps to protect people from the herbicide dimethyl tetrachloroterephthalate (DCPA, or Dacthal).

EPA is warning people of the significant health risks to pregnant individuals and their developing babies exposed to DCPA and will be pursuing action to address the serious, permanent, and irreversible health risks associated with the pesticide as quickly as possible. EPA has also issued a letter to AMVAC, the sole manufacturer of DCPA, restating the risks the agency found and stating that due to the serious risks posed by DCPA, the agency is pursuing further action to protect workers and others who could be exposed.

https://news.agropages.com/News/NewsDetail---49703.htm

This is more of a general reference to the dwindling toolkit of existing chemicals rather than to suggest PHC has a direct replacement.

Sorry, that last post might not be clear to everyone, it relates to the share buy back of shares which are now held as treasury shares.

Whilst its small, at least the company and its holders have benefitted to some extent form the craziness.