Anpario Regulatory News (ANP)

Anpario, the independent manufacturer of natural sustainable animal feed additives for health, nutrition and biosecurity, provides the following trading update for the year ended 31 December 2021.

The Group has delivered a strong operating performance despite a number of challenges in global markets and supply chains due to the pandemic. Earnings are expected to be in line with current market expectations with full year sales expected to be not less than £33m.

Sales growth has been achieved across all of our regions, Asia, Europe, Middle-East and Africa (MEA) and the Americas. Some territories are still experiencing weakness linked to the pandemic, particularly in parts of MEA and Asia. However, a number of key market developments have provided MEA with the strongest segment growth, helping it recover from the previous year. The impact in Asia of lock-downs and reduced tourism was more than offset by strong performances in China and Australasia.

We have continued to experience increased logistics and raw material price inflation, the cost of which is being passed on through sales price increases. We are seeing some encouraging signs that cost price inflation has begun to stabilise and the improving international travel situation will help our sales teams drive new business development initiatives.

The Board would like to thank all stakeholders, especially our staff around the world, who have adapted to new ways of working and put every effort into ensuring continued production and delivery of our products to customers and our subsidiaries around the world.

Our financial position remains very strong with year-end cash balances of £15.5m (31 Dec 2020: £15.8m). Global logistics challenges led us to absorb cash into working capital, particularly through the first part of the year, to ensure local supply to our customers. Through H2 we have increased cash by £0.9m, after £2.1m of dividend payments and further capital investments of £0.9m, including the Solar Panel installation to reduce our carbon emissions.

The Group expects to announce its final results for the year ended 31 December 2021 on 16 March 2022.