The shares soared this week following the departure of management and some broker support. Was this share price surge warranted and is this still a buying opportunity; the Champion comments!
Despite the lowly PER and reassurance over cash, the access business remains a big worry and we aren’t convinced that it looks that attractive yet – a great pity because this is surely just the sort of business we should be supporting in the current climate!
Performance has been excellent up to now and the valuation looks cheap, but debt has increased, and the ghost of Inter Link Foods still haunts. It’s also unclear how they will perform in a recession.