June 26, 2020
Anpario updates on encouraging first half of 2020 in AGM statement
Anpario plc, an international producer of natural feed additives for animal health, hygiene and nutrition, has witnessed a strong sales performance in the first half of 2020, according to a statement released on June 25 in relation to the company's annual general meeting.
Chief executive Richard Edwards said that Anpario also saw "a corresponding improvement in our profit margins… as some customers increased stock levels and previous business development initiatives came to fruition."
Edwards added: "We are conscious of the continued uncertainty around the world due to the pandemic and are monitoring the potential impact it could have on business as we enter the second half of the year."
Despite the challenges, Anpario has experienced strong growth in Asia, Europe and the Americas so far. However, "the Middle East experienced a weak first half as the absence of tourists and religious celebrations affected food consumption," said Edwards. "In the US, we are maintaining sales despite meat processing facilities experiencing closures which has led to temporary delays in populating farms with livestock."
As China's pig industry begins to recover following the African swine fever outbreak in the country, sales there are "now showing signs of recovery," said Edwards. "... also, a ban on the use of antibiotic growth promoters (AGPs) in animal feed is expected to come into force in July."
"Our first half performance and strong balance sheet, which is reflected in our current cash balance of £13.9 million (US$17.2 million) at 24 June 2020, gives me the confidence we can more than meet the challenges we face and progress the profitable development of the company," said Edwards.
"We continue to operate our contingency plans, with a split production system, remote working and using technology to support our global sales teams and customers and expect to continue to operate in this way for a number of months."
Anpario is also confident it will not need to tap into financial aid provided by the the UK government in response to the COVID-19 pandemic.
"In recognition of the heroic contribution made by NHS staff and key workers in the fight to manage and control the virus in the UK, Anpario has made two significant donations to local hospitals and charities to provide support for the physical and emotional well-being of hospital staff and patients," said Edwards.
He concluded: "Anpario's interim results for the six months period ending 30 June 2020 are expected to be announced on 9 September."