• ABOUT
  • CONTACT
  • DISCLAIMER!!!

Wexboy

~ A Value Investing Blog

Wexboy

Tag Archives: Operating FCF

The Worm in the Greencore (II)

08 Thursday Dec 2011

Posted by Wexboy in Uncategorized

≈ 3 Comments

Tags

distressed, Greencore, IFG Group, Interest Coverage, Margin of Safety, Operating FCF, Pension Deficit, Rights Issue, Uniq

Greencore Group plc (GNC:ID or GNC:LN)

  • Mkt Price:  EUR 0.635
  • Mkt Cap:  EUR 244.2 mio
  • P/E:  3.9   (well, sorta…based on 2011 Cont Adj EPS)
  • P/S:  0.19
  • Div Yield:  8.5%      

Continued from here… Before we look at Uniq, there’s two other acquisitions to tackle: First is the abortive (recommended) merger with Northern Foods. I was shocked when this was announced in Nov-2010. What the hell were they doing? Despite the management guff, clearly they already had enough on their plate. At least it was a nil premium merger, and promised GBP 40 mio of annual savings within 3 years. On that basis, things might not necessarily get any worse after the merger, and just might get better..! The market certainly shared this conclusion, with GNC’s share price actually rallying sharply.

Continue reading →

The Worm in the Greencore (I)

06 Tuesday Dec 2011

Posted by Wexboy in Uncategorized

≈ 5 Comments

Tags

Ballymaloe relish, Charlie Haughey, exceptionals, Greencore, Net Interest/EBITA, Operating FCF, Tesco, Total Produce, Uniq

Greencore Group plc (GNC:ID or GNC:LN)

  • Mkt Price:  EUR 0.645
  • Mkt Cap:  EUR 248.2 mio
  • P/E:  4.0   (well, sorta…based on 2011 Cont Adj EPS)
  • P/S:  0.19
  • Div Yield:  8.4%      

I’ve been champing at the bit for the latest Greencore results, which just came out today. They’re always enjoyable to review, and a real boost to my day. Gee, I wish I could live in Greencore’s happy world forever. It’s amazing how wonderful a picture they can paint in the pages of their annual report. Um, I mean the front pages of the report. Perhaps errant husbands or wives should commission and present their spouses with an annual report each year? With a Nov year-end, of course, so it’s always the best present under the Xmas tree. Jesus, we’d never hear of another divorce ever..!

Continue reading →

Enter email address to track this blog by email.

Join 2,322 other followers

Wexboy on Twitter:

  • And there it is, a 110p/$TED.L share recommended cash offer... londonstockexchange.com/news-article/m… finance.yahoo.com/chart/TED.L#ey… .… twitter.com/i/web/status/1… 23 minutes ago
  • RT @DoombergT: European natural gas prices exploding higher this morning https://t.co/05NdJiMEAf 33 minutes ago
  • RT @grandoldmemes: https://t.co/PZ6ZhlhZCU 1 hour ago
  • RT @RampCapitalLLC: Marc Andreessen gave Adam Neumann $350m instead of giving everyone in America $1m. Selfish. 12 hours ago
Follow @Wexboy_Value

Wexboy Top Posts

  • ABOUT
  • NTR plc - Breezin' Right Along...
  • Wexboy Portfolio Performance - Total Gain & CAGR (since Blog Inception)
  • From Russia With Love
  • Applegreen - Just Grab & Go!

Wexboy Archives

  • January 2022
  • November 2021
  • July 2021
  • January 2021
  • November 2020
  • July 2020
  • January 2020
  • December 2019
  • July 2019
  • January 2019
  • July 2018
  • May 2018
  • February 2018
  • January 2018
  • September 2017
  • August 2017
  • July 2017
  • May 2017
  • April 2017
  • March 2017
  • February 2017
  • January 2017
  • December 2016
  • November 2016
  • October 2016
  • August 2016
  • July 2016
  • June 2016
  • May 2016
  • April 2016
  • March 2016
  • February 2016
  • January 2016
  • December 2015
  • November 2015
  • October 2015
  • September 2015
  • August 2015
  • July 2015
  • June 2015
  • May 2015
  • April 2015
  • March 2015
  • February 2015
  • January 2015
  • December 2014
  • November 2014
  • October 2014
  • September 2014
  • August 2014
  • July 2014
  • June 2014
  • May 2014
  • April 2014
  • March 2014
  • February 2014
  • January 2014
  • December 2013
  • November 2013
  • October 2013
  • September 2013
  • August 2013
  • July 2013
  • June 2013
  • May 2013
  • April 2013
  • March 2013
  • February 2013
  • January 2013
  • December 2012
  • November 2012
  • October 2012
  • September 2012
  • August 2012
  • July 2012
  • June 2012
  • May 2012
  • April 2012
  • March 2012
  • February 2012
  • January 2012
  • December 2011
  • November 2011

Wexboy Categories

  • Uncategorized

Blogroll

  • Above Average Odds Investing
  • Alpha Vulture
  • CantEatValue
  • Cheapskate Investor
  • csinvesting
  • Deep Value Investments
  • Element Value Investor
  • Expecting Value
  • Harriman Intelligence
  • Insider Monkey
  • Interactive Investor Blog
  • Investor Soiree
  • Long Term Value Blog
  • Mallet's Conspiracy
  • Mark Carter
  • Oddball Stocks
  • Philip O'Sullivan's Market Musings
  • Ragnar is a Pirate
  • Reminiscences of a Stockblogger
  • ShareProphets
  • Simple Value Investing
  • The UK Stock Market Almanac
  • Tom Winnifrith
  • UK Value Investor
  • Value Investing France
  • Value Investing Journey
  • Value Uncovered
  • valueandopportunity
  • valuestockinquisition
  • ValueWalk
  • Valuhunteruk

Meta

  • Register
  • Log in
  • Entries feed
  • Comments feed
  • WordPress.com

Create a free website or blog at WordPress.com.

Privacy & Cookies: This site uses cookies. By continuing to use this website, you agree to their use.
To find out more, including how to control cookies, see here: Cookie Policy
  • Follow Following
    • Wexboy
    • Join 2,322 other followers
    • Already have a WordPress.com account? Log in now.
    • Wexboy
    • Customize
    • Follow Following
    • Sign up
    • Log in
    • Report this content
    • View site in Reader
    • Manage subscriptions
    • Collapse this bar