LONDON (Alliance News) - Anpario PLC Tuesday reported a small rise in pretax profit for 2015 as it shifted focused towards its higher margin speciality feed additive products following the sale of its organic feed division last March.
Anpario produces and distributes natural feed additives for agriculture and aquaculture markets.
The company reported a pretax profit of GBP3.6 million, up from GBP3.1 million in 2014, as a slight fall in revenue to GBP23.2 million from GBP23.4 million was offset by an improvement in margins as the company focused on higher-margin products. The company said its gross margin improved to 44.9% from 40.5% in 2014.
Anpario's 2014 results were restated to reflect the sale of the organic feed division as discontinued operations.
Anpario proposed a full year dividend of 5.00 pence per share, up 11% from the 4.50 pence it paid in 2014.
"Anpario has delivered a strong profit performance during the year and is now focused on its higher added value feed additive products. Our strategy is to grow the business organically in its key market areas and to develop local commercial teams closer to our customers which will help increase our business with the larger end users," Chairman Richard Rose said in a statement.
Shares in Anpario were up 0.7% at 312.00 pence Tuesday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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Anpario (ANP)