Anpario shares jump as earnings continue to rise after US turnaround

(Alliance News) - Anpario PLC shares jumped on Wednesday as it reported a strong rise in half-year earnings and said the next part of the year has started well.

Shares in Anpario were up 15% at 486.66 pence in London on Wednesday morning.

The Nottinghamshire, England-based animal feed additive manufacturer said pretax profit surged 62% to GBP3.4 million in the six months to the end of June from GBP2.1 million.

Revenue improved 34% to GBP22.7 million from GBP17.0 million.

The company lifted its interim dividend by 11% to 3.60p per share from 3.25p.

Anpario reported a strong sales performance in the Americas, Asia and Europe segments, which was tempered by a levelling off in the India, Middle East and Africa segment, after "an outstanding performance last year".

It noted a continued improvement to its gross margin due to a richer product mix and the contribution from Bio-Vet Inc.

"The board is delighted to report another strong first half performance in terms of improved sales, margins and profitability. This result reflects management's initiatives in promoting higher value-add products, as well as a broader recovery across the group's territories, with an encouraging turnaround in the US and the contribution made by the Bio-Vet acquisition completed on September 30, 2024," said Chair Matthew Robinson.

Looking ahead, Anpario reported "strong sales" at the start of the second half of the year.

It said its leading position and the launch of several new products gives the board confidence in the long-term profitable development of the company.

"There is always more to achieve, and the team remains focused on implementing the strategy to deliver strong organic growth supplemented by appropriate acquisition opportunities should they arise. The group has made a strong start to the second half, and we are confident of building on this momentum," Chair Robinson added.

By Michael Hennessey, Alliance News reporter

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