Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on CARR'S GROUP PLC. We currently have 34 research reports from 4 professional analysts.
|20Mar17 15:42||RNS||Holding(s) in Company|
|17Mar17 15:28||RNS||Holding(s) in Company|
|06Mar17 16:02||RNS||Block listing Six Monthly Return|
|02Mar17 11:44||RNS||Director/PDMR Shareholding|
|28Feb17 14:27||RNS||Total Voting Rights|
|31Jan17 15:21||RNS||Total Voting Rights|
|11Jan17 13:00||RNS||Result of AGM|
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Research reports on
CARR'S GROUP PLC
CARR'S GROUP PLC
Positive AGM messages
22 Mar 17
Wynnstay’s (WYN LN, N/R) AGM, held in Shrewsbury yesterday delivered a number of positive messages for the B2B agriculture sector. The current trading backdrop, absence of deflation and raised pressure for further efficiency gains all argue for a more positive outlook for this discrete sub-segment.
Feeding Those Who Feed the World
01 Feb 17
Carr’s Group is an exciting, increasingly focused company, exposed to international agriculture. In particular, its low moisture feedblocks should enjoy brisk UK and international growth. Any legacy perception of Carr’s being “complicated” appears misplaced. We upgrade our recommendation from HOLD to BUY.
VSA Agri Monthly
31 Jan 17
Just as it looked like Indonesian palm oil producer MP Evans (MPE LN) had seen off the hostile intentions of Kuala Lumpur Kepong (KLK MK) for at least 12 months, KLK has begun a stakebuilding process by looking to pick off willing sellers. First to go was Fidelity, an unsurprising sale given its removal from the Board supporters list on the improved 740p bid from KLK. Having picked up additional shares in the market since then, KLK now holds 11.19% of the company.
Diversity helps keep group on track
11 Jan 17
Once again, the in-built diversity provided by having two divisions operating in different sectors and internationalisation within those two divisions shows its worth. During the first 18 weeks of FY17 a better than expected performance from the Agricultural division was balanced against a significant contract delay in the Engineering division, with the group as a whole trading in line with management’s expectations for the full year. We leave our estimates and valuation unchanged.
Agriculture starts FY2017 ahead of expectations
10 Jan 17
Carr’s Group’s (CARR LN, HOLD, T/P 175p) issued a statement today which confirmed that the company continues to trade in line with the Board’s expectations for the current financial year. The announcement refers to 18- week period which ended on 7th January and is the first pre-AGM statement since the disposal of the flour milling business for £36m.
21 Mar 17
Fever Tree’s (FEVR LN, HOLD, T/P 1250p) preliminary 2016 results this morning included in line EBITDA and diluted EPS. The company reported £35.8m of EBITDA – marginally ahead of our own £35.6m estimate and in front of £34.9m consensus forecast. Adjusted diluted EPS was 23.7p (+104%), consistent with our estimate (23.7p) but slightly below the 24.0p predicted by consensus (source: Bloomberg). Fever Tree holds an analyst presentation at 9.30am.
Small Cap Breakfast
21 Mar 17
First Sentinel—Investment company expecting NEX admission/introduction on 24 March. £636k raised pre-IPO. BioPharma Credit—Expected Gross Initial Acquisition Proceeds now c.$338m. Gross Cash Proceeds capped at $423m with placing and open offer. Results expected 23 March with admission now due 30 march. Tufton Oceanic Assets- The Company intends to invest in a diversified portfolio of second hand commercial sea-going vessels where the Investment Manager believes that an attractive opportunity exists in shipping. $150m raise. Admission 3 April.
Small Cap Breakfast
23 Mar 17
K3 Capital Group—Schedule 1 from the Group of business and company sales specialists across business transfer, business brokerage and corporate finance. Admission date and fundraise details TBC. Integumen— Schedule 1 from the personal health company developing and commercialising technology and products for the human integumentary system. Raising £2.16m at 5p. Expected market cap £8.16m. Admission expected 5 April. Sentinel—Investment company expecting NEX admission/introduction on 24 March. £636k raised pre-IPO. BioPharma Credit—Expected Gross Initial Acquisition Proceeds now c.$338m. Gross Cash Proceeds capped at $423m with placing and open offer. Results expected 23 March with admission now due 30 march.
Panmure Morning Note 20-03-2017
20 Mar 17
Today’s H1FY17 results are in line with our and consensus expectations, and we are therefore maintaining our FY17 and FY18 PBT estimates. We regard this as a resilient performance given the turbulent backdrop. We leave our BUY rating and 150p TP unchanged to reflect our positive view on FIF’s long-term prospects predicated on; (1) FIF’s broad-based business spread across channel, customer and product providing diversification of opportunity and risk; (2) FIF is wellpositioned in the fast-growing areas (e.g. artisan breads, celebration cakes, “food-to-go”/foodservice) of the UK bakery market; and (3) FIF’s market leading position and size to deliver scale advantage to develop its stated growth opportunities (including targeted accretive acquisitions), further supported by FIF’s sound financial position (H1FY17 net debt/EBITDA of 0.8x).
Eyeing Up Opportunity
24 Mar 17
Produce Investment’s (PIL LN, BUY, T/P 210p) interim profits were well beneath inferred market expectations as delays in the recovery of ex-farm potato prices coincided with unusual costs associated with the company’s implementation of a new ERP system. Interim EBIT fell to £0.2m from £3.4m last year.
Panmure Morning Note 23-03-2017
23 Mar 17
Venture Life has announced results for the full-year to 31 December 2016 and while investors got a good flavour of the FY16 performance in the January trading update, we think the performance speaks for itself. Prior to January we’d been looking for £14m top-line for the year, VLG has come in with £14.3m (+57%), adjusted EBITDA £0.8m (vs PGe adjusted EBITDA £0.6m), gross margin up, operational leverage kicking in, UltraDEX ticking along very nicely, new key hires. We consider Venture Life to be a well-positioned growth business taking advantage of a well-developed product platform, with high-quality execution. We’ll take the opportunity to revisit forecasts in due course given the recent arrival of Adrian Crockett as CFO, but our investment thesis remains and the business is looking in good shape. Buy.