RE: Bought in today...9 Dec 2013 08:59
ANP is the star share pick of this week's Moneyweek cover story. The company continues to grow and is unigue as:
1. it has a robust BAU cash flow generating business whilst also developing innovative patented annimal additives which expand it's business lines.
2. It has no debt and pays a consistent dividend (disclosure - I have shares and have invested since 2009)
3. It is always on the look out for bolt on acquisitions (it has money in the bank) and has a history of acquiring businesses at reasonable valuations which soon after been revenue generative (the accounts evidence).
4. It benefits from a strong global trend towards increasing protein consumption (emerging markets) AND away from untargeted antibiotic usage in animal farming which could become the next consumer labelling requirement / trend.
5. It is managed by a compentent management team (I have met some of them and would prefer them to some FTSE 100 leadership teams who have made it via a politicised corporate ladder). Friday's announcement of the opening of their US office (complimenting presence in China & Brazil ) underlines the opportunity for growth and the effectiveness of management to execute their business strategy.
In summary I am am long ANP and whilst their current sp is at an historical high it would be a mistake (imho) to purely value their sp on current KPIs.