30 January 2020
(“Anpario” or “the Group”)
PRE-CLOSE TRADING STATEMENT
Anpario, the international producer of natural feed additives for animal health, hygiene and nutrition, will announce its results for the year ended 31 December 2019 on 18 March 2020.
Revenue and adjusted EBITDA (excluding foreign exchange) should be in line with market expectations. The increase in the value of sterling during the year has impacted the overall result as realised exchange gains have been materially outweighed by unrealised losses.
Sales improved in the second half of the year, driven by continued strong performances in Latin America and the Middle East and a welcome recovery in Asia. Targeting of the Chinese poultry market, coupled with the Group’s geographic and species diversity, have helped to mitigate the impact of African Swine Fever.
Gross margins improved further reflecting the Group’s focus on marketing higher value-added products and developing further direct routes to market which are seeing positive momentum. Costs continue to be closely managed, whilst maintaining investment in our sales channels and product development initiatives to support future sales growth.
The balance sheet remains strong with year-end cash balances ahead of last year at £13.8m (31 Dec 2018: £12.9m).
Richard Edwards, Chief Executive Officer +44(0) 777 6417 129
Karen Prior, Finance Director +44(0) 1909 537380
Peel Hunt LLP +44 (0)20 7418 8900