Anpario plc, the independent international producer and distributor of natural feed additives for animal health, hygiene and nutrition gave an update statement at its AGM on 25 June.
Chief Executive Richard Edwards made the following comments:
“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 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.”
“Anpario’s Board would like to thank all staff for their supreme efforts in ensuring continued production and delivery of products to customers and subsidiaries around the world.
“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. The Company has not and does not expect to use any of the UK Government’s Covid-19 financial support measures.
In recognition of the heroic contribution made by NHS staff and key workers in the fight to manage and control the virus in the UK, Anpario has made two significant donations to local hospitals and charities 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.
Anpario’s interim results for the six months period ending 30 June 2020 are expected to be announced on 9 September.”