Last checked at 1 Feb 2012 07:00
1 February 2012
Anpario plc
Performance Update 2011
Anpario plc ("the Company"), a leading supplier of natural high performance feed additives to enhance health, growth and sustainability in global agriculture and aquaculture markets, is providing a performance update prior to entering its close period.
The Company expects to report a successful year to 31 December 2011. This is especially encouraging as the on-going turbulence in both the Middle Eastern and Southern European markets disrupted normal order patterns in the respective countries. In partnership with our country distributors, the Company has also implemented a strategy to minimise any exposure in countries where there is financial or political concern, whilst capitalising on the Company's geographic diversity to broaden sales opportunities.
The Company has continued to re-structure the UK agriculture division by divesting its commodity business to focus on the added value products within its portfolio. As a result, whilst this has substantially reduced overall UK sales in 2011, gross margins and overall profitability have been improved.
The balance sheet remains strong and debt free with cash balances in excess of £4.3m at the year end.
With global issues continuing to prevail, the Company remains confident but cautious as it goes into 2012 and the year has had an encouraging start.
The announcement of the results for the year to 31 December 2011 will be made in April 2012.
| Anpario plc |
| David Bullen, Chief Executive Officer +44 (0)791 955 2040 |
| Karen Prior, Group Finance Director +44 (0)1909 537 380 |
| FinnCap |
| Matthew Robinson / Henrik Persson - Corporate Finance |
| Stephen Norcross - Corporate Broking +44 (0)20 7600 1658 |
Copyright Business Wire 2012