Ok so the figures sounded OK, but the share price today looks
very temptingly cheap - down to 93p last time I looked, it has
been up there 150p or so, and pays a divi.

So anyone hold these and if you do, what's your views?
I'll dig out the share price chart and paste it up in a mo..

lots of volume early on today,why ?

It is near it's all tiume low so there will be buyers about.

These have to be cheap!

I would suggest that they are too risky to call as a long.
Report today suggests that with sales they are having a hard time,this year's profits have been sliced to bottom of the range for this and next year.
Numis has slashed target to 65p with like for like sales having deteriated from 1st quarters 1.7% fall.
Any likely bid from Bauger whom hold 22% or any other bidder does not need to materialise until the share price is lower.
To my mind the downside risk cannot be discounted,although like everything you bet it down and find it goes up.

your right there torquay,it would `nt surprize me if 85 was coming soon,,,,end of day,,you never no . myself bauger still wants to take it private me thinks,who no`s be lucky,it still owes me 20% but i wont sell yet.

what did i say about 85 by end of the day . its here now ?

Yup reached and slightly over by a fraction, still think we will
be holding for possibly 6 months, unless something unexpected happens.

bunny i have given up on this at the moment,i have other fish to fry . brjk/cash,are to of my recent buys big future for these,keep your eye on them.

Moving up....no idea why, but moving up!!

undervalued for sure,divi alone is more than any highstreet bank,i my sell if i can get out allmost even.

Are these worth a punt for recovery?

you tell me ? .
mite be troy,after all they went from 27,180,,,,,,,,,

Times speculates another takeover or buy out.

If it does, Dave is buying the drinks.

I assume you still hold Sainsbury?

yes sw ,but i would like 3.50ish,and thats a fair buyout price.

True.

hows that gas and oil going much change.i here there my be some news on the horizon soon with mtn.

The oil and gas is waiting for .........................

.....well, something!

The run up to Christmas should be either good or bad depending on results.

I know it is not your cup of tea looking at the way you trade, but I am into HNR, SEY, PCI & TLW.

I still hold other bits but the main is there.

I am amazed at all this bid rumour activity in the retail arena, looks like you chose wisely some months back.

to be honest seawall retail is my sector,but i do go for a wide spred of investments,all sectors,bar,oil/gas,textiles,well i have that covered in away,chemicals,power & water.had most other sectors through time,i do have my favs,,,,,,,of course ,we all do.
today i have bought,easyjet/reg vardy.
my golden rule`s are no your sector/and try to buy the top 3 in the sector.its worked for me .

Sounds a good plan.

Me, I have none.

I research, the reseacrh some mre, then watch and buy.

The biggest bloomers have been to listen to a freind who thinks he is in touch with the other side, (of the market).

That has stilted my perfomance, but left to my own devices I do not too bad.

I like the idea of bottom feeding, which I have done in respect of HNR and SEY, trouble is I have to wait for something then to lift them off the bottom.

They both have and now it is a waiting game.

I the mean time, my pension rolls in every month on the 1st which keeps the wolf from the door. (Early retirement is great and recommended).

thats what i hope for,but i will be over 50 by the time the dream comes true,but thats the goal.

Today's Subday Times:-

Judgment Day: Should you buy shares in Big Food Group?
Experts think Big is not so beautiful



BIG FOOD GROUP owns the Iceland chain and the food wholesaler Booker, which supplies corner shops and small firms.
Previously known as Iceland Group, the company changed its name in February 2002. Iceland was formed by Malcolm Walker and Peter Hinchcliffe two dissatisfied Woolworths employees in 1970, and expanded until it owned 748 stores.



The company assumed its present form when it acquired Booker in June 2000. Big Food Group abandoned a bid to buy the Londis convenience-store chain earlier this year and is currently in the middle of a 170m store-refurbishment programme.

The group employs almost 30,000 people and is run by Bill Grimsey, chief executive.

The two experts below have been selected for their skill in several investment areas. They, or the funds they manage, may hold shares in the companies or sectors discussed.

Andy Brough, fund manager at Schroders In the world of food retailing, big is beautiful, as shareholders in Tesco will tell you. Iceland, Big Food Groups earlier incarnation, was a leader in frozen food before the big boys decided it was an area they wanted to move into.

With such competition, Big Food has struggled to increase sales despite having 3.4m customers who spend 1.5 billion a year. New store formats are being rolled out with extended fresh and chilled ranges and a smaller frozen-food operation but it is too early to say if they are successful.

Operating margins are less than 0.2% (Tescos are about 6%). An increase in margins by 0.1% would add 15m to profits. Booker, the food-service division, generates sales of 3.5 billion, earning a margin of 1.5%. Some 1,455 independent retailers are supplied by the company and last year these sales grew by 8%.

Overall group sales are about 5 billion but Big Food made a profit before tax of only 50m. The group has debt of 255m, which compares with a market value of 287m. Interest is covered over six times on a cash basis, while fixed-charge cover, which includes all the operating leases, is covered just over two times on the same basis. These ratios should enable the company to keep refurbishing the old stores while continuing to reduce debt.

The profit forecasts in the market for this company currently range between 42.4m and 53m which is a large range for something as supposedly stable as food retailing.

Baugur, the retailer from Iceland, has a 22% stake you have to wonder if it bought the stake because it thought the company was part of the nations heritage but this holding provides some downside protection.

Convenience retailing is a growth area for supermarkets as the government is making it difficult for them to expand out of town. Big Food would be a small mouthful for one of the larger groups especially if J Sainsbury is cleared to buy Jacksons at a rumoured 0.7 times enter-price value/sales multiple. Judgment: Hold

Tim Steer, fund manager at New Star You may be able to buy your lunch at Big Food Group but other retailers like Tesco and Asda are having their lunch in terms of price and offering.

Big Food Group operates under two main brands Iceland and Booker. Forget Booker for the moment. This cash-and-carry retailer trundles along and makes between 50m and 60m in operating profit every year.

It is what is going on at Iceland that is of interest. I reckon times are tough for this food retailer. In the past 12 quarters, like-for-like sales have been down in all periods except two.



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