Share Name Share Symbol Market Type Share ISIN Share Description
Anpario LSE:ANP London Ordinary Share GB00B3NWT178 ORD 23P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -1.00p -0.25% 399.00p 388.00p 410.00p 399.00p 399.00p 399.00p 9,637 08:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Food Producers 29.2 3.4 14.7 27.2 92.41

Anpario Share Discussion Threads

Showing 1101 to 1125 of 1125 messages
Chat Pages: 45  44  43  42  41  40  39  38  37  36  35  34  Older
DateSubjectAuthorDiscuss
05/9/2018
13:12
The Chairman was correct to call H1 performance as solid and everything in this morning's statement was pretty much as I expected. Pleased to see that continuing to make progress in the US with a 8pc revenue increase. In the financials the only thing that caught my eye is that for the first time since I started tracking ANP in 2014 they had an operating cash flow deficit mainly as they explained by having more inventory in their new overseas branches. Cannot see much scope for the share price to increase much and there may be a modest softening. Ps For the first time for some time went to the News Section of their website and not very much has been posted.
cerrito
04/9/2018
18:30
Interim results tomorrow
johnthespacer
17/8/2018
18:41
They must be enjoying the current FX rates. I see that roughly half their receivables are in US and my reading of the footnotes of the AR is that they hedge most of them and we need to brace ourselves for a negative impact in the Interims- as foreshadowed on the AGM statement- and a much more positive second half. If Downing ( or indeed any other big shareholder) want to sell more, it will put a strain on the share price I checked to see if either of the Downing Funds are/were forced sellers. Downing One VCT had at March a market value of £ 2.6m in ANP and the Micro Cap Fund at the end of January £1.4 m in ANP and both funds appear to be robust. The current share price is tantalising.
cerrito
02/8/2018
13:20
steve - Yes, I meant Downing. This share is thinly traded and 1% of the stock has a disproportionate effect on the share price. For all I know, Downing are getting out completely. If so, it'll take quite a while. I agree - probably fair value around here. The P/E (PEG nearly 2) and div yield (a smidge over 1.55%) do not represent much of a buy case. Still, I like the cash generative properties of the company and the business itself. Even the large percentage of overseas earnings is a bull point ahead of sterling risk over a bodged Brexit. I'm not getting back in yet but am watching closely for a re-entry point.
hiddendepths
31/7/2018
20:51
Is the big seller this Downing shave from <8% to <7%? I agree going nowhere fast but like the automation in production and international reach. Probably fair value but I will wait awhile to buy again. Apols thought it wasn’t responding.
steve3sandal
31/7/2018
20:51
Is the big seller this Downing shave from <8% to <7%? I agree going nowhere fast but like the automation in production and international reach. Probably fair value but I will wait awhile to buy again.
steve3sandal
31/7/2018
15:06
And now we know why the share has had some lurches downwards. A big seller - who'd have thought. If they're done, it's probably a good time to buy. If they're not, it's better to wait. Hmm....
hiddendepths
30/6/2018
18:25
Great Nocton and good that you were not by yourself. Update much appreciated; given that the company was so open and you had such s good chance to kick the tyres rather frustrated I could not join you. Feedback on questions raised also appreciated.
cerrito
29/6/2018
14:54
Thanks Nocton, excellent summary, and answers a number of questions we all had. Remains a medium/long term hold for me
truffle
29/6/2018
08:06
TY for your analysis, Cerrito. Yes I went to the AGM and there was a very good turnout - about 20 shareholders I should think and the (small) room was full. After the AGM there was a good set of presentations by directors and staff, following by a tour of the plant. I asked about the remuneration figures. The explanation was that a deferred bonus from the previous year had been paid and the basic salary had not changed. It was agreed that if the breakdown of the remuneration had been given, as is best practice, then the matter would be clear. Apparently next year it will be required. Re cash and spending, they have installed a fully automated bag packer which is working flat out and already paying back well; they are going to reorganise the warehouse to make space for a liquid/bottle filler thus bringing that in house to give faster response times and improve margins. Then the final pallet packing will be automated. R&D spending is significant and targeted at clearly improving the business. In the last 18 months they have appointed a new R&D manager and a Corporate development manager, both with good technical qualifications and experience. As someone who has been involved in industrial R&D during my career, I thought they had the right approach in terms of testing their products on animals, both in-house and in collaboration with customers and universities. They are trying to get clearly away from the 'snake oil'/'muck & magic' idea of their products to show proven performance for the customer. You say: "How do they see growth coming in future years? Better products? More sales penetration in the main markets? I see that per page 9 they see themselves as having four product categories, Can we have revenue and operating profit broken down into these four categories?" There was some discussion about this and about breakdown by country. They do not want to give too much detail as most of their competitors - not the giants - are private companies who don't give this info of course. They are certainly looking at improving sales penetration, partly by owning their own distributors and partly by train their other distributors in the technical merits of their products, which includes the R&D providing clear technical support. What I can say is that when going round the warehouse, products were going to, among others: Iran, Mexico, Kuwait, Ecuador, which gives a flavour of their markets, the large majority export. All pallets in the warehouse were going out the following day - they make to order and do not have product in stock. Re Brexit, it was not discussed at the AGM or after, but I spoke to the CEO during the factory tour. Just 14% of exports go to the EU, so not a big risk. As all are approved under EU legislation he does not see any serious problems after Brexit - perhaps a bit more paperwork. with their experience in exporting to countries such as Iran, I should suggest that EU paperwork will not be a problem. Overall, I cam away impressed and positive about the future. The directors and staff were welcoming and positive and the plans for the company looked sound and feasible. They could perhaps double production on the present site. IMO the share price fall reflects the high PE and nothing specially positive in the AGM statement - there was discussion about the lack of anything concrete - what are "full year management expectations". The usual trading speculation on the run-up to an AGM and profit taking after a good run over the last year. Let's see what the Sept interims show.
nocton
28/6/2018
13:47
I agree, almost certainly overdone. Nearly all companies like this are referring to stronger sterling being a factor in their trading but it is not necessarily all one way traffic. Emerging markets might be posing a few short-term currency problems, nothing new there, but conversely stronger sterling which was previously referred to, has now declined from about 1.44 to about 1.31 against the dollar in the past couple of months which must be helpful. It will be interesting to see what the interims' update on currencies says. Remains a long term hold for me
truffle
28/6/2018
11:31
as ever, just run the numbers to come up with your own valuation and then factor in where you think the company will be in a year or two years. Is this an opportunity?
nivison
28/6/2018
10:09
I hardly think that statement is worth a 50p drop..... In li ne with expectations does me.....and the currency thing has been known for last two years anyway.......MM chancers.......
tailgunner
28/6/2018
07:56
Time and again this year several of my small caps have seen unexplained falls ahead of results, trading statements and AGMs. I try to hold for longer term progress in earnings but beginning to think this is old fashioned. I completely agree hidden depths.
steve3sandal
28/6/2018
07:23
Oh ho - methinks someone got wind of the AGM statement a couple of days early. Naughty!
hiddendepths
28/6/2018
07:23
double post
hiddendepths
27/6/2018
10:54
Still no takers for the apparent line of stock....
hiddendepths
26/6/2018
15:24
Probably a sizeable seller.
hiddendepths
26/6/2018
14:28
Rather severe slashing of share price on nothing????.......
tailgunner
25/6/2018
16:47
Good summary note Cerrito Overall am happy with progress but, as you suggest, it would be good to get a clear answer to your questions
truffle
25/6/2018
16:16
Too bad Nocton that things have come up my end and I will not be able to join you;let’s hope that you are not by yourself as that can be pretty hard work. I have been through the AR; the big question on which they are silent is what they plan to do with the cash mountain; of course good that they have not made ill judged acquisitions and not keen on them doing buybacks with the current share price- Note FWIW that current marcap at £110 m compared to book net worth of £30m. and roughly 3.3x 2017 sales. I personally found the AR rather unsatisfying. Yes they give a clear breakdown of geographic sales and profitability but we get no clear ideas as to what their product lines are-I see that Orego-Stim once again had a whole page extolling it and I assume therefore is the lead product but we learn just represents 25pc of sales in China? Sales breakdown between diary and non diary? How do they see growth coming in future years? Better products? More sales penetration in the main markets? I see that per page 9 they see themselves as having four product categories, Can we have revenue and operating profit broken down into these four categories? How much does new sales growth depend on R&D? Note that the amount of R&D tax credits received had gone up from £250k in 2015 to £330 k in 2017 which suggests R & D expenditure adequate, Note total personnel expenses were £4.4m in 2015, £5m in 2016 and £6.3m in 2017. This reflects both Executive Board remuneration and the new direct sales force as well as people like the new post of Corporate Development Director. Good to see amount of trade receivables down despite increased sales. Continue to be comfortable with the inventory figures but do note increase since 2015 year end. Gone through the Goodwill) intangible figure-ground a quite high third of net worth. Discount rate is a rather high 12pc which for me and s good. Rather surprised to see that even if growth was a negative 15pc then there would be adequate goodwill cover. Many things to get one’s teeth into and would have liked to be there, and if the meeting is on site you get a better feel for what makes the company tick. PS Re reading my March 7 post, I am rather surprised price is so high. Be interesting to see if there is an AGM statement. PPS Well done to them on US success. I am interested to know how they are getting on with the big US integrators
cerrito
09/6/2018
18:42
Perhaps you could be kind enough to post his reply which no doubt will be of interest to us all
truffle
09/6/2018
18:23
I am planning to attend the AGM so will put the question there.
nocton
09/6/2018
09:33
That's a fair question The AGM is coming up in 2/3 weeks so you have two options. Either attend the meeting and ask the question directly, alternatively put it in writing in advance and ask for it to be specifically addressed and explained at the meeting I also think the new chairman is the sort of person who would happily address and explain this type of issue
truffle
08/6/2018
19:13
In Cerrito's post 1031, re the 2017 AGM he mentioned a question I asked: "Question asked about Director Remuneration and the fact that not broken down-not an AIM requirement for this to be so but they did say they would revisit.." Now in this years' report I see that they have not addressed the issue and further the remuneration of Edwards, the CEO, has gone up by £115,000 to £412,000 and of Prior, the Finance Director, by £91,000 to £299,000, with no explanation. I think these are excessive rises and excessive remuneration for a company of this size. It's making me think about selling out especially as the p/e is high and vulnerable to any bad news. It suggests that the directors interests are not aligned with the shareholders' interests.
nocton
Chat Pages: 45  44  43  42  41  40  39  38  37  36  35  34  Older
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P:40 V: D:20181116 01:18:54