winningstreak
21 Jun 2016
Re: AGM Statement Latest/updated profit forecast for current year looks good at Pre-Tax £8.55m with EPS rising by 24% to to 5.46p (source Morningstar). Hard to see the share price remaining at current low level 54p-57p. I managed to top-up yesterday at 55.15p for long term hold.ws
Meanbugger
10 May 2016
AGM Statement Slightly negative statement at the AGM provoked short-term carnage in the share price. Well done to any buyers of the shares around the 51p level when they tanked before recovering. Good news is that the acquisitions are continuing and the board's expectations for the full year are unchanged. I think the shares will stabilise around the 64p level in the short term but will need more deals before making further progress. Still a good long term hold.
Meanbugger
21 Apr 2016
Re: Results / Brokers forecast/ Meanmachin Just to say thanks Meanmachin for the Ferrexpo tip but I think reading the Ferrexpo board you have since sold. I bought in at 36p, doubled up at 26p now looking to exit at 40p so that will do me. Cheers!!
seadoc
28 Mar 2016
Re: Results / Brokers forecast "This applies to British Polythene, where I also hold shares"Sold my BPI, still hold MACF. Just that.Regards,Seadoc
Meanbugger
14 Mar 2016
Re: Results / Brokers forecast WS you puzzled me with your comments on the benefit from weak sterling but I understand now. I recently found an old KBC Peel Hunt note from 2009 when MACF were 17p and yielding 11%. 300% capital gain in 7 years is not a bad return. I bought a few Ferrexpo for a speculative punt. I did very well from Baltic Oil Terminals when it was taken over so money can be made from Eastern European investments. The key is to start in a small way and average down on weakness and exit when the shares recover.One share a bit like Macfarlane which I've tucked into is Synthomer, the old Yule Catto. Nothing exciting but it's currently trading well and pays a reasonable dividend. Boring can be good.
winningstreak
09 Mar 2016
Re: Results / Brokers forecast RE my message at 9.05 this morning, I have to retract what I said about the benefit from the fall in the value of Pound Sterling. This applies to British Polythene, where I also hold shares. I somehow got things mixed up. I intend to hold both Companies medium to long term.ws
winningstreak
09 Mar 2016
Re: Results / Brokers forecast Mean bigger - I remain in. As you say, there is not much in the way of better value elsewhere.I expect MacF to benefit very considerably from the fall in value of Pound Sterling. WS
meanmachin
08 Mar 2016
Re: Results / Brokers forecast FERREXPO INVEST THERE
Meanbugger
08 Mar 2016
Re: Results / Brokers forecast Ws, as the shares are now 9p above your target price have you exited? I still think the combination of a decent yield and a reasonable growth story makes MACF an attractive share in a stockmarket sadly lacking good investment opportunities. I too was thinking of selling but I would have no idea what to reinvest in.
winningstreak
26 Feb 2016
Re: Results / Brokers forecast Meanbugger - Your view is more optimistic than mine. Either one of us could prove to be correct. My earlier mentioned PE ratio of 14 was basedon broker-predicted very rapid EPS growth, which has transpired to benot quite as rapid as predicted (10% below broker consensus forecast).A more mundane forward PE-ratio of 12 now comes to my mind. My revised target price of 57p is set at 5% below anticipated (my view) full value share price 60p. IMHO,ws
Meanbugger
25 Feb 2016
Re: Results / Brokers forecast ws,you've done well with your analysis of MACF. I think analysts just got carried away after the good half-year result. The pre-tax profit split is quite unequal between the first and second halves. Pre-tax profit increased by about £600k in the first half and about £600k in the second half. I think in the current year the increase could be £500k in each half giving earnings of about 5p for the year. The dividend increase is 10% for the year which is quite generous. I think given the shortage of good safe income shares, MACF still has its attractions for income seekers. My target price would be based on 14x 5p of earnings so I think 70p could still be attainable.
winningstreak
25 Feb 2016
Results / Brokers forecast Good Results, but below Brokers Forecast. EPS was forecast at 4.84p (sourceMorningstar), today we see actual EPS at 4.35p, which is a shortfall of 10% on forecast 4.84p.In my view, this puts the shares in full-value territory at 60p. Thus my earliertarget price of 70p is now reduced to 57p.IMHO,ws
winningstreak
28 Dec 2015
EPS on the rise Earnings Per Share for 2015 are expected to come in at 4.8p+, and for 2016 EPS are expected to come in at 5.30p+ (source Morningsar / brokerconsensus). In my view, It would not be unreasonable to expect the share price to move towards a forward earning multiple of 14, which translates into a share price 74.2p (14 X 5.3p). A target price of 70p is certainly not out of order here. IMHO,ws
winningstreak
17 Nov 2015
Re: Internet sales / packaging With internet sales continuing to grow at great lick, packaging is unlikely to go out of fashion. MACF is truly in a sweet spot.IMO,ws
winningstreak
02 Oct 2015
Good value Good value here at current share price 47p, IMHO.ws.
