Brexit and African Swine Fever7 Oct 2019 00:11
I have been running my slide rule over ANP - potential, yes; dividend yield, yes; no debt yes...
But they are worried about Brexit:
'Anpario’s products and processes comply with the required European Union regulations. In the event of the UK leaving the EU, we have plans in place with our EU suppliers to try to minimise any disruption. These arrangements include increasing raw material stock levels in the UK and supporting our European distributors with additional stock, which may increase working capital and storage costs, but this should not be material.'
'Group inventory levels increased to £4.0m (2017: £3.1m), as we built raw material stock levels as part of Brexit contingency planning; the remainder was the result of increased sales in regions such as USA and Australia where the long transit times lead to higher inventory requirements.'
'Brexit Contingency Planning Shareholder information Financial statements Governance In the absence of clarity on post Brexit trading Strategic report arrangements, we set out below some of the key steps being taken to plan for and mitigate any disruption resulting from changes to the way in which we currently conduct business. Anpario has been proactively engaged in understanding the potential scenarios and drawing up plans to mitigate any future risks to the business. We have appointed a steering group of experienced cross-functional professional managers who are working together with our stakeholders to manage the process and challenges we face. Richard Edwards has met with Dr Liam Fox, Secretary of State for International Trade. John Butlin has met; Andrew Mitchell, HM Trade Commissioner for Europe; Amanda Brooks, Director Trade Remedies, Access and Controls, Department for International Trade (DIT) and Mark Carney, Governor of the Bank of England. Karen Prior, John Butlin and Cindy Thomson have attended numerous Brexit seminars with DIT, British Chambers of Commerce and lawyers.'
Not good but might be a buy-in if you time the Brexit debacle well.
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