Ripley94
15 Sep 2018
Resurrection? TOT… I have record of getting these @ 48p ( was this the demerger ) Sold in Nov 2015 @ 101p by september 2018… 195p
CASTLEFORD TIGER
08 Feb 2018
Stake taken in Yorkshire company I understand that TOT has taken a stake in BURBANK a distributor based in BRADFORD west yorks.Good for both sides as it opens up supply and TOT may learn how to get some margin from this end of the line distribution.A good fit and not sure it will make a news item but it has or is happening.I still like TOT.Tiger
KEEPING CALM MIKE
01 Feb 2018
Re: 45% stake in DOLE acquired News received well stock up 5% today >!!! K.C.M.
pearlsasinger
01 Feb 2018
45% stake in DOLE acquired today's announcement is very significant indeed.Dole has a very good reputation.The related placing in respect of new equity in TOT will almost certainly be oversubscribed - and thus will likely lead to an increase in TOT'sp when thetransaction closes.Trading at 220p. in London today-- higher that Dublin price of 240 cents
KEEPING CALM MIKE
20 Jan 2018
THE NAME FITS TOTAL PRODUCE !! Well after the demerger from Fyffes in 2007 at only 23.5p this stock has certainly produced for me !! Its the time in the stock, not timing the stock, very happy to hold on .K.C.M.
Wexboy
06 Jun 2016
TGISVP - Total Produce 2016 – The Great Irish Share Valuation Project (Part II):Company: Total Produce (TOT:ID)Last TGISVP Post: Here (former holding, also see here & esp. here)Market Cap: EUR 538 MPrice: EUR 1.69For such a dull stock originally, Total Produce has had an incredible run…actually quadrupling in the last 3-4 years! All despite the fact its fundamentals haven’t really changed – management continues to make 1-2 acquisitions a year (generally buying a 35-65% stake), adjusted EBITA margins remain in the 1.8-1.9% range, and earnings continue to grow at an average 9% clip in the last few years. Fortunately, I managed to capture a major portion of this revaluation…and to enjoy seeing so many investors only become interested after the stock doubled/tripled!? [Tom Claugus of GMT Capital (one of Jack Schwager’s new Market Wizards) has been building a 9% stake since late-2014, while Daniel Gladis of Vltava Fund now lists it as a top 5 position after (presumably) building his stake since late-2013].But TOT management really takes the cake here: They finally pulled the trigger on a €20 million share buyback towards the end of last year…yup, I kid you not, the buyback actually came AFTER the share price quadrupled!?! And no, it’s not like there was some kind of prior financial constraint – management actually wallowed in €100 million+ of surplus cash for the past few years. Granted, I always had a pretty dim view of TOT’s capital allocation strategy anyway…but this must surely be the stupidest management decision I’ve seen in a long time.Anyway, FY-2015 results confirm a 1.9% adjusted EBITA margin – but if we allow for an average 19% minority interest in profits, this is equivalent to an underlying 1.5% margin, which deserves a 0.15 P/S multiple. And with a mere €18 million of net debt outstanding, we can adjust for cash (& investment property), plus an incremental debt adjustment – noting actual finance expense paid of €7.2 million, we could comfortably add another €49 million of debt, but let’s haircut that by our usual 50%. In terms of earnings, we can award a bit of a premium to TOT’s growth rate, recognising the underlying stability of the business (but not forgetting management’s poor capital allocation record) – a notch higher (for a 12.0 P/E ratio) now seems in order – and noting the Progressive Produce acquisition early this year & the recent trading update, using the top end of the €0.105-115 EPS range also seems appropriate
EUR 0.115 Pros Adj Dil EPS * 12.0 P/E + (3,454 M Revenue * 0.15 P/S + 142 M Cash/Inv Property + 49 M Debt Adjustment * 50%) / 318 M Shares) / 2 = EUR 1.77Total Produce is now fairly-valued. But there’s an obvious value-enhancing event still lurking on the horizon…a potential re-merger with Fyffes (FFY:ID). I mean, how ludicrous is it seeing two Irish fruit & veg companies (with basically the same €0.5 billion market caps) compete with each other, with both dead-set now on buying their way (however quixotically) into the North American market – the cost savings & revenue synergies to be harvested from, say, a nil-premium merger are blindingly obvious. But expecting something so rational from the TOT management team may be asking too much…we may have a very reluctant bride & groom on our hands still.Price Target: EUR 1.77Upside/(Downside): 4%For related links/graphs/files, and more TGISVP analyses/price targets: Google the Wexboy investment blog.
mcescher
30 Mar 2016
Made a report comparing TOT / FFY Excellent Total Produce / Fyffes comparison. Have you guys seen this website before? I only just discovered it covers AIM. [link]
pearlsasinger
14 Nov 2015
Re: Resurrection?/Out He who trades and walks awayWill live to trade another day.
Ripley94
14 Nov 2015
Re: Resurrection? Got out on Wednesday to soon once again.
Ripley94
11 Nov 2015
Re: Resurrection? 5% spike ... past limit by 4%Longers work against then day.
Ripley94
22 Oct 2015
Re: Resurrection? **
KEEPING CALM MIKE
04 Feb 2015
3 February 2015 | 09
6amTotal Produce has acquired a 50% shareholding in the Gambles Group, the fresh produce company based in Toronto Canada. This represents Total Produce's fourth North American investment.Gambles was founded in 1989 by Tom Hughes and Wayne Giles. Today the business is one of Eastern Canada's premier produce companies with 2014 sales of CAD$170m and employing over 280 staff. At 96am: (LON:TOT) Total Produce PLC share price was 0p at 78p
KEEPING CALM MIKE
04 Feb 2015
Where are you all ?? Any one there? A lot of news on their expansion plans, and new Toronto Operation, keeps this stock ticking along.Mc CANN FAMILY still on board. Any one any dealings with them ? K,C.
