M. P. Evans Group (MPE)

Sector:

Food

Index:

FTSE AIM 50

810.00p
   
  • Change Today:
      10.00p
  • 52 Week High: 900.00
  • 52 Week Low: 670.00
  • Currency: UK Pounds
  • Shares Issued: 53.16m
  • Volume: 37,714
  • Market Cap: £430.59m
  • RiskGrade: 143

MP Evans extends and expands share buyback programme

By Josh White

Date: Monday 19 Dec 2022

LONDON (ShareCast) - (Sharecast News) - MP Evans announced its decision to extend its share buyback programme on Monday, which was due to expire on 31 December.
The AIM-traded firm said the programme would now run to 31 March next year, while its budget was being expanded by a further £2m.

Since launching the programme, the group said it had purchased 469,859 shares at an average price of 851p each, at a total cost to date of £4m, making up the total approved budget so far.

All shares acquired under the programme had been, or would be, cancelled.

"The Board continues to believe the current share price undervalues the group's assets, the performance of the business to date and its future prospects," the board said in its statement.

"The group's robust balance sheet provides the opportunity to take advantage of prevailing market conditions to repurchase shares at advantageous levels that will enhance earnings."

MP Evans said it was undertaking the programme as part of its "disciplined approach" to capital allocation, which included continuing investment across its estates, the ongoing pursuit of strategic acquisition opportunities, and the payment of dividends at an increased level.

"The board sees a case for buybacks being economically attractive since the group's shares are currently trading below the share price implied by the independent valuation of its assets."

The programme would still operate under the authority granted by shareholders at the firm's most recent annual general meeting on 10 June.

At 1123 GMT, shares in MP Evans Group were up 3.92% at 812p.

Reporting by Josh White for Sharecast.com.

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

MPE Market Data

Currency UK Pounds
Share Price 810.00p
Change Today 10.00p
% Change 1.25 %
52 Week High 900.00
52 Week Low 670.00
Volume 37,714
Shares Issued 53.16m
Market Cap £430.59m
RiskGrade 143

MPE Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
93.78% above the market average93.78% above the market average93.78% above the market average93.78% above the market average93.78% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average
Price Trend
0.46% above the market average0.46% above the market average0.46% above the market average0.46% above the market average0.46% above the market average
14.29% below the sector average14.29% below the sector average14.29% below the sector average14.29% below the sector average14.29% below the sector average
Income
82.60% above the market average82.60% above the market average82.60% above the market average82.60% above the market average82.60% above the market average
71.43% above the sector average71.43% above the sector average71.43% above the sector average71.43% above the sector average71.43% above the sector average
Growth
55.49% below the market average55.49% below the market average55.49% below the market average55.49% below the market average55.49% below the market average
36% below the sector average36% below the sector average36% below the sector average36% below the sector average36% below the sector average

MPE Dividends

  Latest Previous
  Final Interim
Ex-Div 25-Apr-24 12-Oct-23
Paid 19-Jun-24 03-Nov-23
Amount 32.50p 12.50p

Trades for 28-Mar-2024

Time Volume / Share Price
16:08 3,812 @ 810.00p
17:01 3,643 @ 811.41p
16:35 408 @ 810.00p
16:35 1 @ 810.00p
16:35 67 @ 810.00p

MPE Key Personnel

CEO Matthew Coulson
CFO Luke Alexander

Top of Page