nk1999
11 Feb 2018
Motley Fool [link]
Hardboy
09 Feb 2018
Re: Trading update I understand the frustration Doug, but nowadays companies do not have to put out quarterly updates at all, so I am thankful for anything they give us; and they would have had to say if anything significant had changed.
Uncle Doug
08 Feb 2018
Re: Trading update Rant alert:"dial in" ? Nah - can't be bothered. If in 2018 a global company can't put a sound file on their awfully designed website then it's a pretty poor show. Also no numbers whatsoever in the trading statement. Things like this tend to really put me (and I'm sure others) off a company. Compare this with CPG who also had a trading update today with plenty of numbers. I think TATE need to get their act together a bit. the way,CPG up 5.32%TATE dn 7.84%
EssentialInvestor
08 Feb 2018
Savage reaction However this market is taking no prisioners atm.My own take - market was looking for "ahead" on guidance,rather than in line.The comment about a moderation of growth in because of extra investmentwentt down like a lead balloon, however they had flagged this investment up beforehand, at least on my understanding.If anyone has comments on listening to the reply conference call (approx 15 mins)Would be interested to hear, thanks.On sentiment, NAFTA continues to weigh.
EssentialInvestor
08 Feb 2018
Re: Trading update Replay of the conference call is available, it's a dial in facility,Details at the end of the RNS.
nk1999
08 Feb 2018
Re: Trading update Agree with Hardboy, they look good value at this level. So I have bought back in after near 15-16 months (having luckily sold ~800p).My buying is usually as good a signal as you can get that a share is about to crash 
nk
Hardboy
08 Feb 2018
Re: Trading update Sorry Doug, I haven't looked for it, but I would hope it would appear on the company website err too long. Your analysis is good, but depending on time scales can be interpreted in different ways: positively or negatively. Over the last 3 years sales and profits have advanced quite nicely; and indications are this will continue for this year. Dividends were held but have increased a bit this year, so the promise of a progressive dividend is implied. Also it's a yield of over 4.5% at current levels, and comfortably covered by profits. At the interims they showed debt & pension deficit had reduced nicely, so everything appears to be moving in the right direction. And with a historic PE of around 11, this looks excellent value. Of course as Essential points out, with such an international spread foreign exchange rates can have a significant effect on results, but if everything is going in the right direction, these tend to even themselves out more or less over time.
Uncle Doug
08 Feb 2018
Re: Trading update HiHas anyone got a transcript of the conference call this morning? Or a link to the presenation? Tried looking but can't find it - maybe will offer some more insights?Falling to 612p as I type. I too thought the results were good (if not great) and I expect the mkt reaction is because expectations were higher and were hoping for more positive future guidance than "in line". In addition the words "profit growth moderation" sounds like a thinly disguised get out clause for any future profit warning. Any look at SP over 3 to 5 years shows Tate haven't really progressed much and has been consistently below FTSE. Also, very minimal dividend increase in 5 years.
The White Rider
08 Feb 2018
Re: Trading update Yes, very disappointing so far as to how the market has reacted. Seems like a solid update so would have thought this would be reason to at least hold, unless investors sense better opportunities elsewhere.
Hardboy
08 Feb 2018
Trading update Fairly uninformative, but "The Group saw volume momentum in its Speciality Food Ingredients and Bulk Ingredients divisions and remains on track to deliver progress in adjusted profit before tax in constant currency for the year ending 31 March 2018, in line with guidance." I think is positive, but the market obviously disagrees.
EssentialInvestor
19 Jan 2018
2007/2008 Had a look over those annual reports this week, and itclearly shows the evolution of TATE since under the current CEO.
EssentialInvestor
19 Jan 2018
Re: What I would like to see.. H/b, the sugar business was sold a number of years ago , they stillstill use the Tate and Lyle brand name. Understandably many think It's still the same company.
Hardboy
19 Jan 2018
Re: What I would like to see.. Although the UK is a relatively small part of their business, T&L are one of the companies which stands to gain from Brexit. Shortly after the referendum I heard of the Directors on the radio, explaining the way Euro subsidies & taxes weigh heavily in favour of Euro sugar beat producers, and against cane producers.
EssentialInvestor
19 Jan 2018
What I would like to see.. Is more of the same please.Conservatively managed and positioned for growth on the specialist ingredients side.FCF is a thing of beauty here atm, balance sheet has been transformed sincethe current CEO took the reigns.
EssentialInvestor
19 Jan 2018
Re: New CEO The SP spiked to just over £7 on the announcement, I should know assold some shares as mentioned on AD vfn that morning.TATE is a major $ earner and with GBP now back near 1.40, it hassome bearing on the SP.The major issue weighing on TATE currently is NAFTA.Trump has once again mentioned Mexico is less than glowing terms!. Trade concerns and FX, not the new CEO are the focus.Having listened to a couple of earnings calls, more than satisfied with the appointment. He looks a continuity candidate to me, who's main focus may beon accelerating specialist ingredient growth.Around £7 tends to be near the top of a recent trading range.All IMV Only, as always.
