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(Alliance News) - Anpario PLC on Thursday said it expects earnings to be in line with market expectations as gross margins improved.
The natural feed additives producer said sales improved in the second half of the year with the improvement attributed to a "strong" performance in Latin America and the Middle East.
Although Anpario experienced setbacks such as the African Swine Flu in China, it said that the negative impact was lessened by the company's targeting of the Chinese poultry market as well as its geographic and species diversity.
The animal feed business said gross margins improved further due to its focus on marketing higher value-added products and developing further direct routes to market.
Looking ahead, the company said it would support future sales growth by maintaining investment in its sales channels and product development initiatives.
At the end of 2019, Anpario had cash balances of GBP13.8 million, up 7.0% from GBP12.9 at the end of 2018.
For 2018, pretax profit of GBP4.6 million was reported on revenue of GBP28.3 million.
Full results will be published on March 18.
The stock was 3.6% lower at 327.80 pence each on Thursday afternoon in London.
By Ife Taiwo; ifetaiwo@alliancenews.com
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