Anpario (AIM:ANP) reassuring update and the shares still look reasonable value?
The supplier of natural feed additives for agriculture and aquaculture markets announced that it is on track to meet its profit expectations for the financial year to 31st December 2012.
Expectations for 2012 are for pre-tax profits of £2.7m and eps of 10.6p putting the shares on a lowly multiple of 8.54x, yielding c 2.8%. Seemingly not bad value for this cash generative business.
The Group is continuing to achieve organic growth across its International and U.K. markets in spite of ongoing turbulence in the Europe and Middle East regions with the recent acquisition of Meriden Animal Health performing well.
Cash at 25th…
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