Naick schreef: ↑2 februari 2018, 17:11 Ow ow Umi, moet je je positie van 6% niet melden bij de autoriteiten dan

Key financial points:
Revenue up 1.6% to £80.6m (2016: £79.3m)
Operating profit £2.4m, (2016: £0.2m) reflecting lower raw material costs, new business gains and past investment Pre-tax profit £2.1m (2016: loss £1.0m)
Basic EPS 5.78p (2016: loss 3.21p)
Interim dividend increased 2% to 2.49p (2016: 2.44p)

The recent poor weather has resulted in a delay to the start of the planting season in both Jersey and Rowe however, the Board currently expects underlying trading profit for the full year to be broadly in line with its expectations.

We remain confident of a good season for Jersey Royals in 2018, though the slow progress of the crop to date will result in a later running season with some sales being deferred until our next financial year. However, our UK and Jersey potato businesses are highly complementary, and we expect there to be some compensating benefit to our Greenvale operations on the mainland from the delay to the start of the Jersey Royals season. Planting of the main UK crop has only just commenced and all indications are that spring will run later this season with planting progress delayed versus recent seasons. The impact of this is likely to be an extension of the current season which may lead to an increase in crop values over time.
The Board currently expects underlying trading profit for the full year to be broadly in line with its expectations, although the year-end result will depend on the outcome of the daffodil season, the Jersey Royal new potato season, and any delay to the UK planting season.

As anticipated, we completed the sale of the closed Greenvale packing facility in Kent during the first half, with proceeds of £1.4m.

We also remain keen to see clear direction from the Government on the measures they intend to take to ensure continued good availability of high quality seasonal labour in any Brexit agreement.

PRODUCE INVESTMENTS PLC
Trading Update
Produce Investments plc, (AIM:PIL) ("Produce," "Company" or the "Group"), a leading operator in the fresh potato and daffodil sectors, is today providing an update on current trading.
In our Interim Results announcement on 22 March 2018, the Board highlighted the potential impact of the unseasonal spring weather, particularly on the businesses of Jersey and Rowe. The adverse weather presented significant challenges both to planting of our early season potato crops in Cornwall and Jersey and also to the harvesting of our daffodil crop. On Jersey, the rainfall recorded during the four months from December 2017 to March 2018 saw an increase of 46% over the long term average with the number of dry days reduced significantly. Mean temperatures during the critical growing months of February and March were also negatively impacted by c. 20% versus the long term average.
As a result of these factors, as well as the previously flagged lower margins on 2017 UK potato crops and reduced seed volumes and
margins due to an oversupplied UK market, the Board now expect the Group's profit for the year ending 30th June 2018 to be substantially below current market expectations.
Rowe and Swancote are subject to annual intangible asset impairment testing and the results and assumptions relating to the last tests were disclosed in the 2017 Annual Report. Due to the challenging trading conditions described above the Group' s current trading performance is below some of the assumptions made in the 2017 impairment tests. Accordingly, we have already commenced work on the 2018 year-end testing which will be based on board approved budgets and forecasts and will be subject to audit in due course. It is too early to quantify the results of the impairment testing, but the Board would expect the tests to result in a significant "non cash" impairment which will reduce "unadjusted" reported profits for the year.
Finally, in light of the timing of the potato harvest on Jersey, which can straddle our current year end, and makes our full year outturn heavily dependent on the final months of the financial year, the Board has decided that going forward it would make sense to move the Group's year end to the end of August. This will greatly assist with the Group's internal budgeting process and will enable the Board to provide more certainty on full year expectations. This change, which is subject to regulatory approval, would not come into effect until the beginning of the next financial year at the earliest. A further update on the implementation of this move will be provided in due course.
The Group remains cash generative and is committed to its long term strategy of widening both its product base and customer base, creating a more diverse business model for the future.

Recommended Cash Offer with Unlisted Partial Share and Loan Note Alternative
for
Produce Investments PLC by April 1983 Bidco Limited

· Under the terms of the Offer, Produce Investments Shareholders will be entitled to receive:

for each Produce Investments Share: 193 pence in cash

· The Offer will also include the Unlisted Partial Share and Loan Note Alternative under which Produce Investments Shareholders will be able to elect to receive:

for each Produce Investments Share: 98.43 pence in cash

and

1 Unit (each Unit comprising one New April 1983 Share plus one April 1983 Loan Note)

Poldermol schreef: ↑11 september 2018, 11:58 Party time!

Poldermol schreef: ↑11 september 2018, 12:18 Bij average downen is de winst groter. Maar ik bezie het ook in het groter geheel. Het was een rotzomer, dus de productie zal wel serieus tegenvallen, dus ik was me al mentaal aan het voorbereiden op 2 jaar 'dood geld'. Voeg eraan toe dat ze ook nog hun goedkope Poolse arbeidskrachten kunnen verliezen met gans dat Brexit-gebeuren, en 190 pence nu is gelijk aan 225-230 pence over 2 jaar.

Daarenboven maakt het cash vrij om in dezelfde sector te herinvesteren (cash call Greenyard?) zonder té overweight te gaan in de sector.

Ik ben akkoord dat het geen topbod is. Maar gelet op de slechte zomer ben ik wel geneigd erop in te gaan. Wellicht verkoop ik op de open markt, en anders zou ik inderdaad bod 1 overwegen, de 193 pence in cash.

Wat Zucker betreft, bij een dissenting shareholder kunnen ze natuurlijk ook een akkoordje sluiten hé. De overige 75% opkopen, delisten, en dan Zucker laten deelnemen als minderheidsaandeelhouder van 25%. Niet ideaal, maar het kan wel werken.