FRM farm pride foods limited

Under researched

  1. 669 Posts.
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    Does anyone know if any analysts cover this stock?
    I've started to have a look through the financials etc but have more questions than answers.

    While profit (before tax) growth has been attractive over the past 6 years:
    2016 $11,485
    2015 $7,218
    2014 $2,529
    2013 $788
    2012 -$399
    2011 -$234

    Revenue has been flat. So all of the gains in operating cash-flow and profit and loss have been attributable to the lowering of costs and in particular Raw materials used. Raw Materials as a percentage of sales:

    2016 62.88%
    2015 65.81%
    2014 71.73%
    2013 75.17%
    2012 76.73%
    2011 73.67%

    There isn't any explanation that I can see as to what is causing this or how long this margin expansion trend will continue for (what do we think is the sustainable gross profit %).

    I did see in the 2014 address to shareholders that number of eggs sold have gone from about 410mill eggs sold in 2010 to about 325mill eggs sold in 2014 (going off graphs not numbers) so number of eggs are dropping but revenue is flat so I assume there is some legitimate margin expansion (we are just getting more money for our eggs).

    Also the investment in the new free range facility will obviously impact the profit and loss however management haven't provided any guidance that I can see around the size / scale and margins on this new facility.

    Any help or guidance would be appreciated.
 
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(20min delay)
Last
28.0¢
Change
0.000(0.00%)
Mkt cap ! $64.62M
Open High Low Value Volume
28.0¢ 28.0¢ 28.0¢ $10.67K 38.14K

Buyers (Bids)

No. Vol. Price($)
2 153970 25.0¢
 

Sellers (Offers)

Price($) Vol. No.
28.0¢ 77685 1
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Last trade - 15.02pm 29/07/2025 (20 minute delay) ?
FRM (ASX) Chart
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