One of the world’s leading manufacturers of collagen products for the food industry.
9-Nov-2017 – 240.75p – £404m – PER 16
Trading Update For The Period July To October 2017 – An in-line update.
Nothing much to excite here at present. I do notice a lot of Net Debt, about 40% of Mkt Cap.
27-Feb-2018 – 200p – £333.9m – PER 13.2
Results For The 12 Months To End December 2017 – I think this is a slight miss on forecasts.
I can’t find any attraction here, the Net Debt of 40% or so of Mkt Cap being enough for me to remain Neutral.
1-Aug-2018 – 196.8p – £328.6m – PER 12.4
Results For The 6 Months To End June 2018 – Revenue down and Operating Profit slightly up, FY expectations remain unchanged.
I still can’t get interested here, Net Debt is about 40% or so of the current Market Cap and the chart is hardly inspiring either.