JJSF - Lancaster Is An Emerging Leader
Investment Thesis
Lancaster (LANC) is an emerging leader in the specialty food sector. The firm holds fourteen leading brands under frozen breads, dressings, dips, croutons and has a number of brand licensing agreements with external licensors. In the last five years Lancaster’s bottom line shot up by more than 7%, averaging about 10.4% in profit margin and just above 1% in margin volatility. With less than 5% in non-current liability, this features a strong capital structure at its core. Although dividend yield is not much, the amount is steadily increasing. However, my analysis