ANC 1999 accounts
ANC have recently filed their 1999 accounts.
These show turnover of £89 m, Operating profit of £4.1 but retained earnings of only £236k.
The turnover may not represent the full network turnover because franchisees retain some of the revenues and they are not passed through ANC. It is thought that a further £40-50m
These accounts pre-date the changes in management and financing which tool place in 2000. Industry rumour is that 2000 was a bad year.
In Autumn 1999 the Venture capital arm of Prudential paid $75m for 74% of ANC. The remainer of the shares are owned by the management.
