AGM Statement
Anpario plc reported a positive start to the year with revenue and profit exceeding prior year performance and meeting analyst consensus expectations, despite geopolitical and economic challenges. The company saw strong trading in the Middle East, including sales of its new product AmpLIPhy, and continued growth in the US and Australasia. While initial logistics cost increases were absorbed, ongoing higher costs and some raw material price inflation, particularly in its acid-based eubiotic range (20% of sales), have been largely passed on to customers through targeted price rises, maintaining first-half gross margins consistent with the second half of 2025. Anpario also repurchased £2.0m of shares under a £3.0m buyback program, adding to its bi-annual dividend payments of £2.1m last year, and maintained a strong cash balance of £10.9m as of May 31, 2026.
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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 made a good start to the year with revenue and profit performance ahead of prior year and in line with full year analyst consensus expectations1, despite well-reported geopolitical and related economic conditions.
We are particularly encouraged by a strong trading performance in the Middle-East, including the first sales of our new product, AmpLIPhy. Growth has also continued at pace in the US across both the Bio-Vet and Anpario product ranges, as well as in Australasia.
Following the onset of recent disruptions, the Group initially absorbed increases in logistics costs for goods in transit, but ongoing higher costs have since largely been passed on to our customers in accordance with our terms of trade. We have also experienced some raw material price inflation, particularly in our acid-based eubiotic range, which represents around 20% of sales, for which we have responded in a disciplined manner through targeted price rises. These actions are mitigating the external cost pressures, with gross margins in the first half of the year consistent with the second half of 2025.
The Group was pleased to be recognised with the ESG Company of the Year award at the recent Small Cap Awards, reflecting our continued commitment to sustainability and responsible business practices.
During the period, the Group commenced a share buyback programme, reflecting its strong balance sheet and cash generation, with the Board taking the opportunity to repurchase shares at attractive levels, reflecting its confidence in the Company's future prospects. As at today's date, a total of £2.0m has been expended under the £3.0m buyback programme, with 365,982 shares repurchased. This buy-back is in addition to the bi-annual dividend which in the last year amounted to payments of £2.1m.
Our cash balance was £10.9m as at 31 May 2026 (£12.4m at 31 December 2025), after £1.1m had been expended on the buyback programme at that date, representing a strong financial position from which to continue the profitable development of the business."
The Company's interim results for the six months period ended 30 June 2026 are expected to be announced on 9 September 2026.
1Analyst consensus for FY 2026 immediately prior to this announcement was Revenue of £50.3m, Adj EBITDA of £10.3m and net cash of £16.9m.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.