Member Info for gerrard08

Don't disagree regarding this being a brilliant co. Personally surprised the shares are not up more post figures. The nervousness around the market is post the Russian invasion of Ukraine some input prices for farmers went up so far they actually stopped breeding for a while leading to a temporarily much reduced customer base for ANP. That said, the ME conflict is no Russia/Ukraine, and the business is a much better more diverse organisation post the acquisition of Bio Vet in the US. This another company that will do further earnings enhancing M&G with prodigious cash flow it generates of buy back more shares (over and above the modest £1m in place currently).

Apologies, yes, it's unclear where the dividend will land. For 2/27 current consensus is for 18p but with quite a variation around the 12 analysts covering it. The uncertainty is what will be apportioned to a further buy back and what to a divi, either way the money is coming back to shareholders.

I think it still is a strong buy. The company has flagged a return to more normal levels of growth, the PBT and EPS only held back by an additional £4.5m of additional one of costs. Flushing the £4.5m through would suggest a better out turn than the flat performance the company are steering the market to. That seems sensible, no points for heroic forecast assumptions in this market, and you get a yield of nearly 8% while you wait.

Trading update for Feb '26 year end due tomorrow. Read across from the very strong update from Softcat last year bodes well for Bytes, although Bytes doesn't do hardware and is more focused on public than private sector. That said, news flow from public sector players eg TPXImpact and Made Tech has also been very positive recently. Yielding nearly 6.5% to 2/27 not bad for a growth tech stock