Eco Animal Health Dividends - EAH

Eco Animal Health Dividends - EAH

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Stock Name Stock Symbol Market Stock Type Stock ISIN Stock Description
Eco Animal Health Group Plc EAH London Ordinary Share GB0032036807 ORD 5P
  Price Change Price Change % Stock Price Last Trade
0.00 0.0% 230.00 01:00:00
Close Price Low Price High Price Open Price Previous Close
230.00 230.00 230.00 230.00 230.00
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Industry Sector

Eco Animal Health EAH Dividends History

Announcement Date Type Currency Dividend Amount Period Start Period End Ex Date Record Date Payment Date Total Dividend Amount

Top Dividend Posts

cerrito: I can understand why you did what you did Mach100, although my reading of the latest news items is that Japan does not have ASF but does have classical swine virus. That said I am not buying more and if it does make its way to the Americas I hesitate to think what will happen to the share price. Still perplexed that ANP share price is unmoved by all of this.
cerrito: My reading is that the share price of both ANP and EAH will go nowhere till the worldwide situation of AFS is clearer and not apparent to me when that will be.
cerrito: I have gone through the annual report. Given ASF I feel I am flying blind here. I have no idea as to how much revenue and profit(however defined) comes from pigs as compared to poultry,cattle etcet. I can get nothing from the media as to what is happening in China with ASF; there are stories of it being in neighbouring countries to China and very recent outbreaks in Bulgaria and Romania and the concern it may go into Germany etcet. Luckily it does not appear to have made its way to the Americas. I hope I can make the AGM to get some clarity here. To get an idea of the importance of China remember that in 17/18 Far East(and I assume that China is the biggest contributor here) produced £14m out of the £22m adjusted ebitda. Also note per page 14 of the AR, that Chinese subsidary’s reported operating profit fell between the years from £6.4m to £5.2m. Difficult to know how this figure compares with total Group Profit from operations which went up from £14.1m to £14.7m. Page 85 tells us that of the £29.5m trade receivables at FYE, £9m were in RMB-though that high percentage would have been distorted because of extended credit terms in China. Finally page 97 shows that last year profits were more sensitive to a change in RMB FX rate than US$ rate(which makes sense given that they are both importing and exporting in US$) with a 10% change in the RMB/£ rate impacting profit by £788k. For me the upshot of these random figures is that we need to have a good handle of what is happening in China given its importance to EAH. I am going on the basis that the share price will wait to see how effective the development expenditure which will go from £3.7m in 17/18, to £5.3m in 18/19 and to £9m in 19/20 given that it will not feed through to sales till 22/23. For me good that wanting to diversify away from aivlosin. Interesting that they have £10m+of UK tax losses which no doubt will increase given r&d expenditure. Be interesting to know how they are going to deal with this situation, Also interesting to see the change in shareholder composition between June 18 and June 19. EAH has important institutional backing-institutions with 3%+ are approx. 60% of shareholding as of June 19 which added to the 10% held by the Lawrence family suggests why there is a wide trading margin. Merian/Old Mutual have gone from 8% to 4% and Schroder from 11% to 7% and we seem to have said hello to Blackrock with 4%. I find their treatment of administrative expenses frustrating-they were £7m in H1 and £12m in H1 and H2 18/19 FY and not clear why they rose between the halves; for 17/18 the July 2 2018 prelims announcement had them as £18.5m and then in the December 10 2018 Interims RNS said that 17/18m admin expenses were £13.4m which does not improve one’s mood. The truth is that I have messed up here as I have an average in price of £4.85 and difficult to see it getting back there any time soon. I hope I can make the AGM.
topvest: Share price up a tad, so results seem to be slightly better than expected. Below original market consensus of 20.3p though. Standing back from it, EAH seem to have lost a couple of years in terms of profitability growth. 20p EPS not achieved last year or the year before. Maybe 2019/20 then. That's the reason why the share price has declined, and why the main insiders sold a few years back in volume.
topvest: Share price is definitely in a bit of a downtrend, probably catching up with the poor EPS number in 2018. 2019 trade is strong and no doubt the recent weakness in sterling is now providing a headwind versus the 2018 tailwind. You would actually guess that the undershoot on 2018 will likely turn into an overshoot in 2019. I will remain patient. Think we will see well over 20p EPS this year, particularly if £ weakness continues.
topvest: Share price seems to have gone up a little at the bell though, so results seem to have gone down OK.
topvest: I suppose it explains the recent weakness in the share price though. On an actual trailing P/E of 35 maybe moving down to 27 if they now achieve 20p EPS in current financial year. A quality business, but hardly cheap. Dividend yield is 2% though which is not bad.
mad foetus: Yes, it is getting frustrating. Quality company but nobody like a share price that drifts down.
tanners: Panic Investor - IGR and EAH are very different businesses. EAH has as deep and wide a moat as you'll would take a competitor a long time to gain all the regulatory approvals, though I will confess I don't know whether others are attempting to develop rival products. The key is the fact that further authorisations are gained with comforting regularity; the difficult bit as I posted a few weeks back is trying to estimate what each might be worth in terms of revenue. To that end I'm compiling a spreadsheet of approvals, and attempting to link that via results to segmental revenue growth in different markets......I've gone back 5 years and whilst not entirely straightforward, I'm happy to share the results when I'm done; if anyone is interested and I think they are meaningful. In the meantime there will be periods when the share price will stagnate or even drift a bit, these movements do not concern me as long as the approvals keep coming and revenue keeps view is that we are in the infancy of a growth Company so until that story changes I'm staying invested, which hopefully will be for some years to come! PS Off topic - hadn't looked at IGR for some time but gotta say the current management are doing a fantastic real protection of product but impressive all the same, and I'm going to do some further research.
tanners: Indeed......very difficult to guestimate what each approval might add in terms of revenue/profit, but a 2% increase in the share price would appear modest!
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