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| 29-Oct-2013 09:33 |
Delfi
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The Business Times picks up from Petra's announcement last week. Petra?s deal to sell its cocoa ingredients business to Barry Callebaut for US$950m (subject to adjustments at completion) may have hit a sour note as the buyer is now asking for a closing price reduction of US$98.3m. This comes after the estimated sale proceeds was already cut to US$860m bcs working capital delivered at completion was lower by ~US$74m. Should Petra be compelled to accept the closing px reduction, it would mean a chunky 20% slice off the original px when the deal was struck in Dec last yr. This could mean a potential estimated net loss per share of US 6¢ from the sale transaction, instead of the net gain per share of US 10¢. This estimated shortfall of 20¢ could prompt analysts to further knock down their avg TP of $4.20. | ||
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| 22-Oct-2013 10:11 |
Delfi
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Singapore's Petra Foods Ltd is in dispute with Barry Callebaut after the latter sought a discount in the final pricing for buying Petra's cocoa business, Petra Food said in a statement late Monday. Swiss-based Barry Callebaut, the world's biggest maker of finished chocolate products for companies such as Nestle SA and Hershey Co, sought a reduction of US$98.3 million in the closing price last month, which Petra Foods considered unjustified. In July, Petra Foods said it expected to receive US$860 million from the deal, after it first announced selling its cocoa ingredients business to Barry Callebaut for US$950 million last December. Petra Foods said that Barry Callebaut's proposal to reduce the closing price is not compliant with the sale and purchase agreement and the law and does not have a proper or valid basis. - Reuters | ||
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| 02-Jul-2013 09:21 |
Delfi
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...Married Deal: Vol: 1,215 Value: $4,483,350 ie $3.690/share Last: $3.910...Recent low: $3.450... | ||
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| 05-Mar-2013 08:53 |
Delfi
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... Married Deal: Vol: 1,200 Value: $4,800,000 ie $4.00 / share ... recent high $4.10 ... |
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| 07-Jan-2013 23:03 |
Delfi
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+12 cents today. stock very fierce. I think information is priced in though. | ||
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| 03-Jan-2013 20:58 |
Delfi
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Petra has gained so much. Special dividend priced in | ||
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| 16-Dec-2012 16:43 |
Delfi
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CIMB added " Although cocoa ingredients account for 35 percent of Petra Food's 2011 profits, the significance of the business is declining as grinding margins fall, CIMB said. Shareholders can look forward to a special dividend of up to S$0.60." Has the current price factor into this yet?Any advise pls? http://sg.finance.yahoo.com/news/stocks-news-singapore-brokers-upgrade-025401415.html
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| 12-Dec-2012 16:20 |
Delfi
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CIMB suddenly looks very wrong. Petra should be announcing a special dividend in the end of its financial year 2012 given the sale of its cocao ingredients business | ||
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| 12-Jul-2008 23:16 |
Delfi
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CIMB cuts Petra Foods target price to $0.65 from $1.53, maintains Underperform rating. Broker says company faces "bleak near-term outlook," with chocolate ingredients division expected to report weak earnings this year due to increasing industry capacity, margin squeeze from weaker USD, increased costs to develop European markets. Says branded consumer sales should rise but will not be enough to offset weakness in chocolate ingredients business. Cuts FY08-FY10 earnings estimates by 48%-57%, new target price assume FY09 PE multiple of 12x, which is bottom of historical trading range vs previous target based on 15x. | ||
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| 15-Mar-2007 20:14 |
Delfi
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World production of cocoa will drop 5.5% in the year ending Sep due to dry weather affecting African crops, before rising for the next 5 years, the International Cocoa Organization said. Cocoa-producing countries will probably produce 3.47 million metric tons of the bean, down from 3.67 million tons in the previous 12-month period, the organization's Executive Director Jan Vingerhoets said in an interview in Kuala Lumpur yesterday. Prices of the bean, used to make cocoa butter and cocoa powder for beverages and confectionery, have risen 18% in the past 6 months in London on concern that the harvest in the Ivory Coast, the world's largest producer, will decline. "The whole African region is down," Vingerhoets said, adding African output may drop 5.6% to 2.5 million tons. "It is because of the hot winds. Some years it's more hard, more dry and longer than other years. It's unpredictable." The impact is limited because of the record production by Ivory Coast and Ghana, the 2 largest producers of the crop, in the year that ended Sep 30, '06, lifting total African production by 10% to 2.63 million tons, creating a buffer with higher stockpiles, he said. Faced with world demand rising 2.3%, there may be a deficit of 103,000 tons for the period ending Sep, the first deficit in 5 years, he said. Demand will be met by drawing down stockpiles, which may drop 5.5% to 1.76 million tons as a result, he added. Still, while the stockpile is adequate, "the market is jittery," he said. The full impact of the hot winds will be known in the coming 5 weeks, as the crops will be scrutinized to see if flowering was affected,Vingerhoets added. Vingerhoets provided the forecast and his comments at a meeting of the International Cocoa Organization's market committee in Kuala Lumpur to discuss the production and consumption estimates for the year and the next 5 years. Africa production may recover next year by 8% assuming weather conditions are benign, lifting world output by 7.9% to 3.75 million tons in the year ending Sep '08, he added. African countries account for 71% of world cocoa output, according to the organization's data. Cocoa futures for March delivery on London's Euronext.liffe exchange fell 3.9% yesterday to 990 pounds (US$1,917) a ton. Cocoa for May delivery on the New York Board of Trade dropped 2.7% to US$1,756 a ton. The International Cocoa Organization's members represent 85% of global cocoa output, and 60% of world consumption, according to information on its Web site. The exporting members were listed as Brazil, Cameroon, Ivory Coast, Dominican Republic, Ecuador, Gabon, Ghana, Malaysia, Nigeria, Papua New Guinea, Togo, Trinidad and Tobago and Venezuela. The organization reviews its annual forecasts every 3 months, and reviews its 5-year outlook every 6 months. |
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| 05-Jan-2007 22:26 |
Delfi
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Good prediction by Macquarie, closed today at 1.80...but HORRIGIBLE volume! | ||
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| 05-Jan-2007 22:24 |
Delfi
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I really love this one...They have expanded their business outside cocoa. Pharmaceutical, Liquor, OTC and Foods! Keep a look out for those who can hold and see it grow, though slowly but surely...;-p |
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| 13-Sep-2006 10:33 |
Delfi
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Macquarie said it has initiated covering with a target price of $1.73 given the buoyant outlook for its businesses and its attractive valuations compared to other consumer stocks in the region. "The resurgence in Indonesian consumption, coupled with a strong outsourcing trend in the global cocoa processing industry, underpins our positive view," Macquarie said in a note to clients. It expects Petra Foods to post eps CAGR of 24% between 2005 and 2008, on the back of the buoyant outlook in both of Petra Foods' branded and confectionery & cocoa processing business. Macquarie expects Petra's earnings growing to US$30m this year from US$23m last year, rising further to US$38m and US$44m in 2007 and 2008, respectively. It said Petra Foods' current valuation is attractive as it is trading at a discount relative to a basket of Indonesian and Philippine consumer stocks. |
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