'Management clearly stuffed up. They shouldn't have agreed to...

'Management clearly stuffed up. They shouldn't have agreed to the large chilli OEM order...'
LOL... we shareholders sure swallowed a large amount of chilli today and the afterburn will last a while.

Nevertheless I am with several other posters here esp hhonner and Stockwin.
Bad news: Once again senior management have been misleading. I listened intently to the CEO's live IV when HY result came out late Feb'25. He was very bullish and frequently reassured holders that everything was on track and the forecast revenue of 350m and EBIT of 50m remained intact.
Well due to poor decision s made in the factory bordering Chile and Peru... EBIT has taken a substantial cut of 18% to 41m... essentially matching that of FY24.

Good news:
i) Revenue has exceeded forecast and has grown from 202m end of fy22 to 370m end fy25 i.e. 83%!
ii) 90% customer retention.
iii) 2/3 employees in lower cost countries esp Indonesia. Rev per employee including contractors is 256k. Of course steel is the other big CoP.
iv) ANG remains the world's largest manufacturer of replacement truck trays. OEM orders also continue to grow.
v) ANG now the biggest tray factory in USA and is exempt from import tariffs. The factory expansion fully online since late April.
vi) Essentially debt free.
vi) I've cut my EPS to 4c. Today's close of 32c gives PE of 8x. Divs for the full year about 1.8c ffr = 5.6% net = 8% gross.

I agree it is a pretty disappointing update and came without warning... apart from a sliding SP these past 7 days. Yet the 2 largest shareholders topped-up a few weeks ago at prices considerably more than those on offer today. I wonder if they have bought more?

I bought plenty more today at 32.3c av. This takes my overall average SP to 40.4c. ANG easily my largest holding. I'm not selling.