Ann: Half Year Results Presentation, page-9

New from Wilson Asset Management:

Stock spotlight: United Malt Group
We remain positive on agricultural stocks and have transitioned more into those set to benefit from tailwinds in the re-opening trade. United Malt (ASX: UMG) is the world’s fourth-largest commercial maltster, operating as a network of companies spanning North America, the UK and Australia. It also operates an international distribution business, providing a full-service offering for craft brewers and distillers.
In United Malt Group’s key markets of North America and the UK, decline in on-premises alcohol consumption during the coronavirus lockdowns affected volume and mix. Now, the company stands to benefit from increased patronage in restaurants and pubs, as the US and UK economies recover and reopen. United Malt Group also has a series of initiatives to support growth, including an upgrade and expansion of its malting capacity in the UK and investment in a bespoke craft warehouse and distribution centre in Victoria.