Animalcare Grp Share Price (ANCR)

Results looked pretty good overall. Profitability was flat despite revenue growth, but they expect the acqn to be 20% accretive to eps in FY25. I mainly focus on FCF which was £8.3m. if Randlab can contribute say £3m of free cash flow then the FCF yield for FY25 could be around 7% (£11.3m on £160m market cap) which looks pretty attractive.

Stocko has PE of 16 for FY25 but don't think PE is the right measure here as the amortisation charge is high which artificially depresses E.

GLA

This looks way under the radar and a smart company, but near the top of its usual price range. I am adding to my Watchlist.

Looks like they got a great price for the Identicare business. Lots of value here. GLA

Why is this stock such a mess?

Animalcare has just gained EU regulatory approval for a potentially very lucrative drug (Daxocox) and has also concluded a distribution agreement with one of the world’s largest animal healthcare companies. Over 2020, it not only functioned fairly normally but it also reduced its net debt by £4.2m.

For a listed company that seems to be in the right place at the right time, Animalcare is keeping a very low profile. I just hope that it’s not being lined up for a takeover on the cheap.