Anpario Share Discussion Threads

[hiddendepths] 14/1/2017 14:19

I think we've picked up an ongoing institutional buyer. The purchase seems to be handled well as it's only gently moving the shares. Tempted to add to help give an extra nudge!

[cerrito] 29/12/2016 18:28

Lancasterbomber, probably a function of the thin market between Christmas and New Year thugh I see that 16k shares traded tody which is quite a lot for ANP

[etarip] 29/12/2016 15:28

Just listened to the Podcast. Thanks Jock for posting.
I have been a shareholder since 2013 and I am in for the long haul.

[lancasterbomber] 29/12/2016 13:08

Any reason for 6% rise on small volume?

[cerrito] 28/12/2016 19:19

Thanks Jockthescot for that good interview which had passed me by.
Recommended listening.
When asked about the fall in the share price over the last 12 months the ceo mentioned that the large holders had been loyal-and indeed having checked the RNS's my reading is that the last time a 3%+ holder sold down was a v modest sale by Investec in June 15.
I checked in to the ANP website and there is a very informative written interview with Feedinfo from late November which you folks may want to read.

[mtioc] 28/12/2016 16:33

Jock

Thanks - really helpful. If I find out more, I will post.

MTIOC

[jockthescot] 28/12/2016 13:11

MTIOC - worth a listen below.

Jock

hxxps://www.shareradio.co.uk/podcasts/my-portfolio-with-lord-lee-richard-edwards-of-anpario-28-sep-16/PodcastPlayer

[mtioc] 27/12/2016 18:41

I researching ANP and have been back through quite a few posts to c. 600, but could not find much on its market position or its products.

ANP appears to be a relatively small business that operates in a market with some very large multinationals (particularly US and Chinese). From what I can gather, ANP is primarily focussed on organic additives to poultry(60% of sales) and swine (30%) feed. Who does it compete with? On what basis (e.g. price, performance etc..) are its acidifiers, phytogenics or binders better than its competitors'? There appear to be quite a few privately held European additive competitors founded in the late 80s and early 90s, but it is difficult to determine the relative strengths of their products.

Who buys/specifies ANP's product? The farmer/producer or the feed provider/mixer?

I'd be grateful for any insight or pointers.

Thanks

[lancasterbomber] 17/10/2016 13:18

Still going up I see, possible takeover???

[truffle] 17/10/2016 12:56

That's true of course, but an approx. 20% rise in the past 4/6 weeks looks encouraging!

[lancasterbomber] 13/10/2016 13:31

However still 17% down on year

[lancasterbomber] 13/10/2016 13:29

Certainly going northwards for a change

[truffle] 13/10/2016 11:06

Yes, wondered if the exchange rate would benefit sales. A sustained drop in sterling over a long period of time, say 1 or 2 years, could make a substantial difference.
We shall see.

[larusso1] 13/10/2016 10:58

Aye...nice little rise of late

[spekky] 13/10/2016 10:49

Looks like the falling pound is helping sales here.....fingers crossed.

[tailgunner2] 29/9/2016 12:06

Funny ol game this........I can only see 4 trades this am...... 2000 buy 5000 sell at 8am this am..... then a 770 buy and a 6 buy...... share price has been sitting level all am....... then out of nowhere drops 4p...... some funny goings on IMO

[cerrito] 18/9/2016 20:11

spekky yes an after hours Friday RNS does raise suspicions and they would have raised less suspicions if it came out on a Monday morning at 7.
I see number of issued shares goes up from 22.8m to 23m and also note that at year end the Employees Trust held 8.5% of the shares.
Seems generous but needs more scrutiny but judging from the way he came across at the AGM, the Chairman did not give the impression of someone who would over pay

[spekky] 16/9/2016 16:57

Sneaky after hours rns, are they trying to imitate bankers?

[nivison] 16/9/2016 09:55

On a different point, anyone got any comment on the link up with eco animal health subsidiary in the states? Another peter lawrence company doing very well, market cap well over £300million. It seems they think there is a product 'fit' here.

[nivison] 16/9/2016 09:08

I agree with that. But the question is where is the cash going? We need to know the story behind the numbers to get any clear idea whether this is a one off situation or likely to be ongoing. If it's a one off then a return to growth is imminent, if it's ongoing then it isn't.

[rcturner2] 15/9/2016 18:44

I personally think that it is quite a poor performance, given the amount of earnings they retain. Warren Buffet uses this as a measure of real growth and I think it holds true. They are retaining the vast majority of the earnings and hardly growing at all.

[truffle] 15/9/2016 16:15

Gets a rather neutral mention the Daily Mail to-day

[cerrito] 14/9/2016 13:08

I rather agree with you tailgunner2, that the share price drop has been rather over done, disappointing to me as the results are.
Truffle you are right that the issues that they have in China/Turkey rather go with the territory but it is rather disappointing to see that both revenue and profits in the four regions were down in H1 16 compared to H2 15. Brutal fact is that Diluted eps down 30% odd from levels of H1 and H2 in 2015.
Saw the comment about the price of corn hitting their Latam Sales;they are right that there was a big spike in the second quarter but the corn price has plummeted since July and is now less than the New Year so will be interesting to see what if any comment they make in the AR.
Incidentally hats off to Management who came good on their promise in the AGM to give more info on sales by geography.
Encouraged by what they say about the US
Cash generation is great(and good to see that trade payables have only risen modestly) ; this cash balance is a bit off a double edged sword as they may be tempted to make an acquisition they and we regret…still will not surprise me to see an offer for ANP from a company with a good worldwide distribution network-especially in the US- but perhaps no such company exists.
Watching the price to see if I should buy a few more.
PS Incidentally trying to work out the FX effects as presumably there were none on an ongoing basis for sales made and collected in the early part of the year; anyone know if they invoice in £?? Of if in FX if they forward sell?? To try and get a handle on this I went to the footnotes of the AR . They had the info you would expect on accounting policies for FX but was surprised that I could not find a breakdown of FX exposures and I went through the AR carefully.

[tailgunner2] 14/9/2016 12:14

Totally overdone drop this am on one wee bit of dispute news..... Totally ignoring the 99% good news...... Profits up, cash in bank, debt free..... Come on MM's get yer house in order ffs!!!!!!!

[truffle] 14/9/2016 09:42

I read the comments relating to overseas markets as being difficult rather than losing money in them, China/Middle East etc., so patience probably required on that front.
At the end of the day this is a debt free, £53 million cap company, £10 million of which is cash, and it is still generating cash. I think it is now a question of seeing how the rest of the financial year turns out before making judgements one way or the other.