PURE - but not simple28 Jul 2010 17:26
hadn't come accross this company before, but saw they were down heavily yesterday so started researching today. Seems like the decreased profit statement has shocked the market, and everything else in the interim management statement has been ignored, such as the fact that they have maintained revenue levels despite losing the customer who provided 60% of their 2009 revenue, they have new JV's, EFSA approval (not an easy thing to achieve), doubled production, strong balance sheet, global infrastrucuture, major new global customer account gains, and so many other positives.
Then there is the expected newsflow, with further progress expected with their leaf strategy in the near future, strong developments for their industry trademark expected in the near future, and full EU clearance anticipated, which should fully open the European market to PURE.
On the other hand the SP has taken a beating, and until we know how much profit they did make last year I dont expect to see any great rebound, and at the moment the maximum sell on Lloyds online is down from 1500 shares a few minutes ago, to 150 shares on the bid @ 185p!!!!! I can currently buy up to 50,000 shares at 187.25p, so well above the ask which just dropped to 190p. Looks to me like a large sell order being filled, which means I have time to research this properly tonight, and try to decide on a timely entry point! Feel sorry for those who have been holding and had to watch this drop, but I do think from current levels this could be a very good long-term investment. ATB