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Equally important, given the Bank of Englandās nervousness about capital rules being loosened too much, the ABI concluded āthe UK will still be one of the most highly regulated sectors in the worldā and have āenough capital to withstand a one-in-200 year shockā.
So why the wait? There is a wall of money tied up in financial giants such as Legal & General and Aviva waiting to be poured into thousands of promising start-ups, and scores of home-grown green energy projects.
If the Government is serious about wanting to make sure more long-term investment comes from Britain directly as well as from overseas, then sweeping away the nonsensical red tape that ties the hands of swathes of this countryās financial sector is by far the best way to do it.
Mr Kwarteng raised hopes with assurances that further City reforms are on their way this autumn. More than six years after the Brexit referendum and two years until the next general election he has little time to waste.
I bought quite a few during the last dip. Ended up with an average of 252p. I have sold a few over the last week or so to take some profit.
I have seen all the broker ratings around 330p over the last few daysā¦..but I donāt really think that is realistic in the current climate. BUTā¦..I have been wrong before !!!
I would think that a pension holiday is very unlikely. I am a pensioner in the Premier part of the scheme. The last time there was a pension holiday was just before the 2008 financial crisis. That combined with the level of debt from acquisitions was what started the rot for PFD.
Thankfully those days are behind us ( I hope) !!
Incidentally a nice little increase in the SP today.
No startling revelations.
Interesting question about the lack of share ownership by some of the non-exec directors. They brushed it off by saying that they were trying to ensure their independence.
Another interesting question about why they are trying to sell cake to the yanks when they have already eaten too much cake of their own. Answered quite neatly by the CEO.
A fair amount of congratulations to the board for bailing out the company.
My view - for what itās worth because I am usually wrong - is that there is still some way to go down. There is so little good news out there and little obvious sign of any.
I too am sat on cash and will stay sitting on it for a while longer.
Theleather1 and Billyn
I really donāt know which own label products PFD currently make. Almost certainly JS and Tesco own label cakes but I am out of touch with the detail these days.
The own label recipes were always different to the branded products and dictated by the customer themselves. Tesco own label recipe would be different to JS etc.
I was involved in the canning business before it was sold to Princes and I remember we used to make Tesco value baked beansā¦..they didnāt contain that many beans !!
The SP is very difficult to predictā¦ā¦I have been hopeful for a takeover but it is a long time coming. Remember Nissin have just increased their stake by 3% after buying oasisās stake. They would obviously need to agree to any takeover attempt, so I guess that makes it more unlikely.
Also the government isnāt keen on American takeovers of Uk food manufacturers so I reckon the bid would have to either come from Japan or a Uk venture capitalist looking at a break up.
I sold half my shares a few days ago and canāt decide whether to buy them back for the divi. Ex divi date next week.
Without a takeover I can see the drifting further down. Not below Ā£1 though. I guess buyers are not particularly attracted by a 1% divi ?