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With what looks to be circa 46p in cash + recent buy back of shares for cancellation + ex-divi date of 3 March 2010, this is a great time to buy in my opinion.
"Results for last year, which are due out in March, will show a loss, but broker Investec is anticipating pre-tax profits for this year of around £7m. That would give an EPS figure of 6p equating to a forward PER of just 4. Given that the sector average is 15, there appears to be room to accommodate some slippage in Investec's estimates, which would still see the shares looking cheap." From here;- http://www.cambridge-news.co.uk/cn_business_columnists_punter/displayarticle.asp?id=479223
If you think that Kraft could buy Uniq, then you need to do more research......Northern is an outside possibility, but unlikely I believe. If you do not read other bulletin boards, then I would take a look at a couple, as there has been significant discussion about potential suitors....my personal belief is that a private equity firm will take this out, which is what I have posted about extensively elsewhere (possibly a joint approach between Duke Street Capital with Pension Corporation).....but I have also always stated that I did not believe that they would make a move until the the Uniq UK business remains only. This is because, this industry at this time cannot afford the time, energy or expense to be diverted away from it's core business and therefore a suitor would be advised to buy Uniq when it can be effortlessly slotted into an existing operation and be earnings enhancing immediately, even if it cost them more money at the time. I will suggest that this is also why traders now also think a bid is likely now (rather than at an earlier date). Personally I hope a bid does not materialise, as I believe that true value for the small investor would not then materialise either. Just my view and I could be very wrong. All of the information is out there if you look. Good luck.
Uniq survived by selling its lossmaking business in the Netherlands for £18m, after it had already exited from France, Germany and Poland. The sale put the convenience food company, up 556pc, in its best financial position for some considerable time. Analysts now believe it is a prime takeover target. Read more: http://www.dailymail.co.uk/money/article-1239341/CITY-FOCUS-The-rollercoaster-ride-shareholders.html#ixzz0bB5smHTV
Formalities over and £18m on way....once shareholder approval given This is a good price for Johma and £18m cash will be very useful.
This has been way over sold, helped along by panic mongering from shorters, who are now closing ahead of a trading update in January. Taking into account the recent sales, we are trading at way below cash value and therefore we are way undervalued, especially now we have a profitable UK business. The pension deficit is the only legacy, but the contributions required will be manageable, as it is not in the trustees interests to agree otherwise...and personally, I still think that Edmund Tuell , founder of Duke Street Capital who tried to buy Uniq a couple of years ago at circa £1.86 just to acquire it's pension fund, may still be interested via his company the Pension Corporation (who have agreed a deal on part of Cadbury's deficit today). What interests me is that since their original interest, Duke Street have invested in UK Food to Go operations and now compete with Uniq UK, meaning that if Tuell tried to take Uniq again, he would probably have a ready buyer for the "Food to Go business" in Duke Street. Personally, I am hoping that Uniq will remain independant as shareholder returns will be much greater than if they were bought out.......but I think a buyout is more likely, as the industry requires consolidation and Uniq is now expertly placed with no debt, manageable pension deficit/assets, a streamlined/profitable UK business and cash in the bank. Just my view for what it's worth and I could be very wrong. Good luck all.
The Western Morning News reported the following yesterday in an article about Dainton Self Storage: "Dainton this week announced that it had exchanged contracts on the former Riviera Desserts plant in Paignton, where it will open its eight storage depot early in the new year." Maybe an RNS will confirm this when the sale is complete.
"Rumour of the day Uniq shares rose 1¾p, or 5 per cent, to 34p after it disposed of its loss-making business in the Netherlands for £18 million. The deal, which comes after exits from France, Germany and Poland, puts Uniq in its best financial position for some time and could make the company a future bid target, according to FinnCap, the broker."
Taken from elsewhere: ALCATRAZ10 - 30 Oct'09 - 09:22 - 4521 of 4521 UNIQ was mentioned in the Shares Magazine again yesterday under the 2 page piece on "LEAN MEAN PROFIT MACHINES - The firms poised to deliver huge earnings growth" ------------------------------------------------------------------- Anyone have more?
One obstacle still to be overcome is Uniqs pension deficit, which stands at £100 million on an accounting basis but is somewhat higher on an actuarial calculation. Negotations with the pension trustees, which has to be finalised by next June, will act as a constrait on sentiment. These discussions are likely to conclude with a compromise, with the company paying more into the fund utilising the procedds from the European sales, but with the rights of benificiaries being reduced. Shares says ;- There is more good news to come BUY at 40.75p.
With thanks to ansimo from another thread: ansimo - 22 Oct'09 - 12:25 - 4133 of 4134 UNIQ buy in Shares mag today - I quote :- A long awaited earnings recovery strategy asset disposals and the possibility of merger and aquisition activity all make chilled foods group UNIQ an appetising investment as the firm bounces back from a torrid two years. Last weeks third quarter trading update demonstrated welcome progress, as the UK businesses haven finally returned profitability. More importantly theee pany confirmed the process of selling its remaining European operations was well advanced. Shares believes they will be sold in the next ten weeks for some £40 million. After this disposal the company will be a cash-generative UK chilled food business with sales of some $300 million and a net cash position. Following its retreat from europe, the £47 million cap has indicated it will boost its investment in its UK desserts business to increase both its flexibility and the scope for inovation. Although viable, a group with turnover of £300 million would be considered to be too small by many analysts, a merger with another similar food manufacturer business such as Norther foods or Dairy Crest would be logical. Uniqs £300 million in tax loss carry forward would held to lubricate any deal.
"This is clearly a turnaround story, the business will transform into a UK focused business by the end of the year. Uniq is well advanced in the process of crystallising value for the Northern Europe division. Their broker forecasts 2009 pre-tax losses of £2.5m and EPS of -1.94p and pre-tax profits of £7.55m and EPS of 6.5p in 2010. We believe the market will upgrade estimates for FY09. The stock trades on a 2010 prospective PER of 6.6x. We initiate with a SPECULATIVE BUY. " Read more at: http://www.proactiveinvestors.co.uk/companies/news/9156/hoodless-brennan-small-cap-news-flash-including-bloomsbury-publishing-kedco-uniq-international-greeting-and-concurrent-technologies-9156.html
Key statements: * Well advanced in the process of crystalising value for our Northern Europe division. Accordingly, we expect to have largely completed the transformation to a UK-focused business by the end of the year as planned. * UK - Q3 performance has reversed the first half loss to become profitable year to date. *The closure of the Paignton facility is on track for completion later this month which will deliver further benefits in the fourth quarter. * The overall sales decline has slowed, with sales in the third quarter down 0.7% on the same period last year - an improvement on the 1.7% decline in the first half. * Sales in Food to Go moved back into 4.7% growth as the extra sandwich business recently won with M&S came into production. *Desserts sales fell 5.8% - Planning significant investment in our desserts business to improve our competitive position, funded out of the proceeds from the Continent. * The Northern Europe division had a very strong third quarter building on the improvement of the first half. * Germany - rate of decline in sales reduced further * Poland - strong performance continued with sales growth of 12.3%. * Netherlands - further improved, reporting a sales decline of only 3.0%, whilst continuing the year-on-year improvement in profitability. Sales growth of 2.6%. * Pension Fund legacy - commenced discussions with the Trustee * Financial Position - paid down debt and cancelled GBP25m of the GBP60m faci
RNS Number : 5991A SDI Group Plc 12 October 2009 SDI Group plc ("SDI" or "the Group") Director's and employees' share purchase SDI Group plc (AIM: SDIG.L), which designs, builds and supports integrated materials handling solutions for international retail, wholesale, fulfilment and e-commerce distribution operations is pleased to announce that it received notification on 9 October 2009 that Gordon Smith, Chief Executive Officer, has acquired 400,000 ordinary shares in the Group at a price of 7.5 pence per share. Mr. Smith now owns 17,203,325 shares or 15.74 per cent of the Company's ordinary share capital.
Author of definitive report on climate change sounds ominous new warning By Michael McCarthy, Environment Editor Monday, 12 October 2009 Extract: "This will have to involve everything from a comprehensive national home insulation strategy to creating a fleet of 1.7 million electric cars with the infrastructure to support them – otherwise, says the committee, on current rates of progress, the "carbon budgets" to which the Government has committed itself are unlikely to be met." http://www.independent.co.uk/environment/green-living/cars-must-be-electric-says-climate-tsar-1801334.html
Food + 1.7% All good news for Uniq who supply them with sandwiches and desserts
Cash in the bank very soon. The RNS states the deal will be completed on 7 October......& if the Sterling/Euro values hold, we could be in for £3m more than the £51m quoted. The RNS states that they used 1.17 Euro and we are at circa 1.11 today......
Glass company exports example of shining work http://www.thenorthernecho.co.uk/business/4641530.Glass_company_exports_example_of_shining_work/
Excellent news that LDC have clearance to buy Marie. No competition issues and with the Euro/Pound exchange rate going in our favour since the agreement (with the price set in Euro's), we should get more Sterling for our Euro's once complete.
Nine cities and towns in the UK are to have charging points for electric and hybrid fuelled vehicles under an £11m development plan. Birmingham, Coventry, Glasgow, London, Middlesbrough, Milton Keynes, Oxford, Newcastle and Sunderland will be the first to benefit from the scheme. The Energy Technologies Institute (ETI) is behind the development of the plan. It will eventually go national with the aim of creating a compatible network of recharging points, a spokesman said. The new plug-in facilities and the attitudes of users to the network will be monitored to assess location of sites and costs of charging. A number of trials are already under way across the UK with the largest involving 340 vehicles some of which are totally powered by electricity and others with carbon fuel engines charging on-board batteries. http://news.bbc.co.uk/1/hi/england/8246009.stm