Anpario PLC AGM Statement (5514D)
June 27 2019 - 2:00AM
UK Regulatory
TIDMANP
RNS Number : 5514D
Anpario PLC
27 June 2019
Anpario plc
("Anpario" or the "Company")
AGM Statement
Anpario plc, the international producer and distributor of
natural feed additives for animal health, hygiene and nutrition, is
holding its AGM later today. At this meeting, Peter Lawrence,
Chairman, will make the following comments:
"As highlighted at the time of our 2018 full year results
announcement on 6 March this year, our industry is facing a number
of challenges. However, Anpario's gross margins have improved,
driven by a change in product mix and the ongoing implementation of
the Company's strategy to develop more direct routes to market,
control costs and make sensible investments; this indicates that
the Company remains in line with our full year expectations.
We expect the farming crisis in China, due to African Swine
Fever, to alleviate as the year progresses and, with pig prices now
at record high levels, Chinese farmers are beginning to restock. In
addition, our focus on poultry in China is gaining momentum. We
expect other regions such as Latin America to benefit by satisfying
the production shortfalls in China and this bodes well for
Anpario's growing global business and is testament to our
geographic spread and our multi-species product portfolio.
The Anpario Direct online platform was recently launched for the
UK market, targeting smaller farm enterprises and niche segments
such as equine and game birds. It is pleasing to report that we
have already received our first sales and the focus now is to drive
website traffic through innovative direct and online marketing
techniques, supported by our existing account management teams.
Inevitably, there will be a gestation period before the affected
markets pick up but we believe, they will do so later this year so
that expanding profitable sales and distribution channels around
the world remains our top priority. Our strong balance sheet is
reflected in the current cash balance of over GBP13m and makes the
Company well placed to invest if the short term industry problems
offer opportunities for acquisitions or provide a platform from
which to continue to make profitable progress.
The Company's interims for the six months period ended 30 June
2019 are expected to be announced on 11 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, George Sellar
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END
AGMLLFFERTIRFIA
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