Last checked at 25 Jun 2020 07:00
25 June 2020
ANPARIO PLC
AGM STATEMENT
Anpario plc
("Anpario" or "the Group" or "the Company")
AGM Statement
Anpario plc, the independent, international producer and distributor of natural feed additives for animal health, hygiene and nutrition, is holding its AGM later today. Peter Lawrence, Chairman, makes the following comments:
"The Board would firstly like to thank all our staff for their supreme efforts in ensuring continued production and delivery of our products to our customers and subsidiaries around the world.
The Group has delivered a strong sales performance and a corresponding improvement in our profit margins in the first half as some customers increased stock levels and previous business development initiatives came to fruition.
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 yet. Furthermore, the Company has not and does not expect to use any of the UK Government's Covid-19 financial support measures.
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. The first half has seen particularly strong growth in Asia, Europe and the Americas, whilst the Middle East experienced a weak first half as the absence of tourists and religious celebrations affected food consumption. In the US we are maintaining sales despite meat processing facilities experiencing closures which has led to temporary delays in populating farms with livestock. Encouragingly, sales in China are now showing signs of recovery as farmers are re-stocking their pig operations following the African Swine Fever epidemic and also a ban on the use of anti-biotic 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 £13.9m 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."
Covid-19 and Corporate Responsibility
Anpario recognises the heroic contribution made by NHS staff and key workers in the fight to manage and control the virus. As a way of expressing our thanks and give back to our local communities the Board are pleased to announce the following support packages:
· £10,000 charitable donation to Nottingham Hospitals Charity; and
· £10,000 charitable donation to Doncaster and Bassetlaw Teaching Hospitals NHS Foundation Trust.
Both charities will utilise the funds to provide support for the physical and emotional wellbeing of hospital staff and patients.
In addition, the Company has used its business relationships in China and its considerable logistics experience to secure a shipment of face masks which will be distributed to local care homes.
The Company's interim results for the six months period ended 30 June 2020 are expected to be announced on 9 September."
Enquiries:
Anpario plc
Richard Edwards, Chief Executive Officer +44 (0) 7776 417129
Karen Prior, Group Finance Director +44 (0)1909 537 380
Peel Hunt LLP +44 (0)207 418 8900
Adrian Trimmings, Andrew Clark