Anpario Regulatory News (ANP)

AGM Statement

Anpario plc, the independent manufacturer of natural sustainable animal feed additives for health, nutrition and biosecurity, is holding its AGM later today, at which Matthew Robinson, Chairman, will make the following statement:

"The Group has delivered a strong sales performance and a corresponding improvement in profit in the first half of the year as the global agriculture market continues to improve and we are confident of achieving market expectations for the full year. There are still challenges to navigate and as highlighted at the time of our 2023 full year results announcement on 20 March 2024, we expected individual territory performance to be variable. In contrast to the strong first half performances last year in the United States and Australia, both territories have experienced weaker trading in the current period. However, all other regions have delivered strong sales growth with notable performances from Asia Pacific, Middle East and Africa and South America, demonstrating the resilience afforded by our geographic diversity.

The Group's business development initiatives are centred around expanding in the ruminant and aquaculture sectors as well as working with several partners in pet food where we can offer natural sustainable solutions. Our unique water-soluble phytogenic product Orego-Stim® Forte, for aquatic species, continues to show excellent field trial results, especially for inhibiting the growth of Vibrio species of bacteria in the absence of antibiotics. As such we are experiencing strong interest for this product from across the aquaculture industry.

Raw material prices have stabilised and together with increased volumes through our highly automated production facility we are delivering improved gross margins and profitability. Our cash position has improved further since the year end, with a balance of £12.2m as at 31 May 2024, giving us a strong financial position with which to continue to grow the business, both organically and through acquisitions, should the right opportunities arise."

The Company's interim results for the six months period ended 30 June 2024 are expected to be announced on 11 September 2024.