IIRC, GNC owns 8.5 per cent of UMG. The two companies demerged.
This excerpt from this afternoon's FY 21 earnings guidance and commentary from the UMG MD/CEO may be good for either GNC or competitor Western Australia's unlisted CBH:
“While crop conditions in North America have deteriorated due to the drought conditions which have impacted barley crop size and quality and have also elevated barley prices globally, we remain well placed to meet these challenges. We source barley from multiple growing regions and our production facilities are located close to transport infrastructure. “As we have done in prior difficult seasons, we are able to source barley from other geographic regions and this year we are proactively sourcing foreign barley to supplement our locally sourced barley requirements to meet our customers’ demand. The majority of our contracts with customers reflect the ongoing change in barley prices.
GNC Price at posting:
$6.27 Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)