Share Price7 Jan 2014 19:38
I also bought around these levels last year. I can find no news that explains the sharp sell off.
Following ANP's half yearly results announcement on the 19th September 2013 the shares performed strongly rising from under 200p to over 300p during the 4th quarter. During the 1st half of the year to 30th June the company reported the following financial highlights:
32% increase in underlying earnings per share1 to 6.94p (2012: 5.25p)
28% rise in adjusted EBITDA2 to £1.7m (2012: £1.3m)
27% improvement in gross profit to £4.5m (2012: £3.6m)
20% uplift in sales revenue to £13.0m (2012: £10.8m)
Cash balances of £5.6m at 30 June 2013 (Dec 2012: £3.7m)
With the Chariman reporting as follows:-
“The Group’s performance in the first half of the year has been strong with the key strategic initiatives beginning to deliver the expected benefits; some earlier than anticipated. Getting closer to our customers in target regions continues to be the priority for the Group. The second half has started well continuing the performance of the first half and we expect this growth to be maintained".
Taking the weighted number of diluted shares of 19.45m and estimating a profit before tax of around £3m this would give a p/e of 17 which appears very reasonable considering the growth prospects.
So unless there are some unknown surprises the trading update due over the next month should hopefully act as a positive for the share price.