frog_in_a_tree
31 Jul 2018
Brexit's fault Seems plausible to me in view of the uncertainty regarding investment plans in the current siguation with Brexit. Surely we have had plenty of warnings from industry of the damage being caused? Cheers, Frog in a tree
Gamesinvestor1
31 Jul 2018
Brexit's fault [link] Nowt to do with the management team of course, oh no, it couldn’t be could it? Games - Brexit my axse!
Gamesinvestor1
20 Jul 2018
sold Swarf -It all seemed to good to be true that suddenly the packaging business was successfully turned around. Right now it’s all about the cash and what they might do with it. I’m getting out of all low margin, low ROCE businesses. Games
swarfega_man
19 Jul 2018
sold Yup, me too. @ 212 a good few weeks ago. £1.2m off the top line could wipe out the marginal net profit in this co. As an OEM manufacturer if you are making such slim margins in business that you control then a dramatic change of strategy is required.
Gamesinvestor1
18 Jul 2018
sold Well perhaps one of my better moves of late. [link] “â€â€œMPAC Group shares plummeted more than 30% on Wednesday after the company said its closing order book for the year was now forecast to come in approximately £1.2m below expectations.â€" Games
gamesinvestor
01 Jun 2018
sold 60% profit taken for the 2nd time -- no idea where this is going and with the CFO resigning, I'm happy to be out.Games
velocipede
14 May 2018
Re: Shares Magazine Blimey - if this a turnaround it's a quick one. Worth holding your nerve here, i'd say....
gamesinvestor
14 May 2018
Shares Magazine "A BIT OF a whirlwind has blown through the boardroom of packaging industry engineer MPAC (MPAC:AIM) recently, dislodging both chairman Phil Moorhouse and finance director Jim Haughey. After seven years in the job Moorhouse will be replaced by Andrew Kitchingman, a non-executive for the past two years. Haughey’s loss was more of a bolt from the blue although we understand it was purely a personal decision. That he’ll remain in situ for the next six months should ensure a smooth handover, while analysts flag the ‘considerable bench strength’ in the MPAC finance team. These departures do provide a timely opportunity to reassess the investment case given that the share price has soared. A special situations investment from the off, we argued that the market was giving too much weight to operating challenges and the pension fund black hole. The wider market has since cottoned on and the shares no longer look significantly discounted. This year’s (31 December 2018) price to earnings (PE) multiple has shot up to 21.5-times and remains a full-looking 15.1-times on 2019 forecast earnings. There could be more upside but the balance between risk and reward no longer looks so attractive.
Marksman51
27 Apr 2018
Chart [link] bought for the first time a small “entry” amount this morning. I use simple charting to buy shares. My principle is to buy “rising” shares with volume. I very rarely look in details re the company’s fundamentals. I argue they’re already in the share price.Have a look at the link above showing the sp chart. I’m a novice TA follower.But buying rising shares has been with investors for decades if not centuries. I have a strict stop loss strategy that depends on simple TA too. I run my winners ad infinatum and sell my losers quickly. I regularly post on the ACTA board.Good luck to everyone Dr M
CASTLEFORD TIGER
27 Apr 2018
Re: Astonishing rise... The EPS figure assumes the company remains unchanged.However I trust the BOARD will do some clever earnings enhancing deals this year.The price then could really motor.Its all down to the use of the cash and how clever they can be.Tiger
Regency Green
27 Apr 2018
Re: Astonishing rise... It was the net cash (£29.4m at 31.12.17) equivalent to around 140p per share that attracted me when I bought in last Nov and those p/e figures look a whole lot better when you take that into account. Happy to hold and interested to see what they do with the cash.
gamesinvestor
27 Apr 2018
Astonishing rise... here, for a stock I'd virtually written off pre the tobacco sale.They seem to have appointed a new Chairman from within and retired the old one. Other than that there isn't much else to review apart from the meteoric rise of the share price of late.Anyone think this one is now becoming a bit over egged so to speak?Rough projections are for earnings per share of some 10.15p for 2018 ending in December and that would represent a rise of some 142% from last years 4.2p -- although that's a bit artificial putting the stock on a current P/E of 234/10.15 = 23 For 2019 they seem to be projecting EPS of 14.4p although that's for the birds really as it's some way off to have any kind of accuracy. That would put the projected P/E at 234/14.4 = 16.25If they miss any of these numbers -- could it be back to a single teens P/E as it was in 2013 through to 2016? -- they were 8.1; 3.6; 5.2 and 9.2 respectively.We are far from those valuations now!Clearly if the pharmaceutical and food packaging machinery is going to turn out to be so profitable, it just shows what a ball and chain the loss making tobacco kit was over the years. Games -- Must be time to offload me thinks soon
swarfega man
16 Apr 2018
Re: Big jump this morning... Still in!
forwardloop
16 Apr 2018
Sum IC - 2018 shares - FebEX Molins : Mpac’s management sold off its underperforming tobacco business for £30m in cash last summer .. A further £2.7m of the cash was paid into the company’s UK pension fund, and £1.5m set aside for warranties and indemnities pursuant of the sale.REM = £23.1m of cash, a healthy sum in relation to Mpac’s current market value of £33.3m. pLUS just completed the disposal of a packaging facility in Ontario, Canada, for a net £5.9m (> £1.5m book value). Mpac will pay £350,000 a year to lease out a newly built plant instead. After fit-out costs the disposal boosts the company’s cash pile by £4.9m to £28m, = 139p a share, so 87 per cent of the current share price is backed by cash. pLUS still an outside chance that the company could yet reap a windfall from a slimmed-down residential planning application on a 10-acre site it owns in Buckinghamshire. An application for a mixed 131-unit scheme on the greenbelt land was turned down by the SofS at the end of July 2017, but there may be scope to resubmit a slimmed-down version of the application for fewer houses. Good prospects for the company’s remaining businesses = high-speed packaging equipment and machinery. H2 June 2017, Mpac’s revenue surged by 40 per cent to £25.4m, buoyed by a trebling of sales in Asia Pacific to £5.6m, and 58 per cent top-line growth to £9.5m in the EMEA regions. Turnover was flat in North America, the largest market segment. Panmure Gordon predicts order intake is supportive of full-year expectations - ptp inc from £0.9m to £1.1m on revenue of almost £48m. On this basis, expect a 39 per cent hike in EPS to 5p when Mpac reports its full-year results in April.Critical to this growth, and forecasts that Mpac can grow revenue by 8 per cent in both 2018 and 2019, is demand from the pharmaceutical, healthcare, nutrition and beverage end markets that the company services. These markets are expanding at around 5 per cent a year, according to chief executive Tony Steels, and have attractive underlying long-term growth drivers such as urbanisation, convenience and health awareness. Mr Steels, who has led the company’s restructuring since his appointment in May 2016, has an ambitious medium-term target to grow revenue annually at an organic rate of 10 per cent, and generate a 10 per cent return on sales. If it can be achieved the shares will clearly warrant a price well in excess of Mpac’s last reported net asset value (NAV) of 203p. Panmure expects Mpac’s underlying ptp of £2.6m in 2018 and to £3.6m in 2019, an outcome that should drive up EPS to 10.4p and 14.7p, respectively.Equity Development analysts have similar forecasts based on Mpac’s forecast operating margin of 2.1 per cent last year, doubling to 4.6 per cent in 2018, rising again to 5.7 per cent in 2019. In other words, even without deploying its hefty war chest of cash on bolt-on acquisitions, there is potentially a strong organic growth story unfolding here, and one that should support the reinstatement of the dividend if / when when profits occur.So, with earnings-accretive acquisitions in the packaging sector on the cards, a new senior management team in charge, and Fwd PE = 11 times next year’s earnings estimates, the heavily cash-backed shares are a Buy. Updated 9 April Investors have started to cotton onto the undervaluation of Mpac (MPAC:175p), which sold off its underperforming tobacco division last summer, and other property assets, and is now producing robust growth from its niche packaging engineering business.Mpac ended the 2017 financial year with net funds of £29.4m, (= 75% of its market value of £38m) and providing substantial firepower to scale up its fast-growing packaging engineering business . The division has just delivered full-year underlying operating profit of £1.3m on revenue up 29 per cent to £53.4m, a robust trading performance that makes its implied valuation of £8.6m an absolute bargain.Key poi
CASTLEFORD TIGER
16 Apr 2018
Re: Big jump this morning... still say 250p is fair on WHAT we know right now.its getting there.tigerSWARF??
