REG - Anpario PLC - AGM Statement

AnparioAnnouncement

16/06/2022 07:01

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RNS Number : 0160P  Anpario PLC  16 June 2022

Anpario plc

("Anpario" or the "Company")

 

AGM Statement

 

Anpario plc, the independent manufacturer of natural sustainable animal feed
additives for health, nutrition and biosecurity, is holding its AGM later
today. Kate Allum, Chairman, will make the following statement:

 

"Group sales for the five months to 31 May 2022 are just ahead of last year
which we consider a good performance given China's recent Covid lockdown and
the Russia - Ukraine conflict, both of which have affected our sales
performance.  As anticipated, we experienced significant raw material price
inflation, which has remained at elevated levels, and combined with
historically high logistics costs has led to a fall in our gross margins.  We
have though, as a priority, been successfully passing on this inflation
through planned sales price increases and overheads are being closely managed.

 

To mitigate the continued disruption in global supply chains we have increased
finished goods inventory in our subsidiaries worldwide and increased raw
material stockholding at our production site following the recent expansion
and upgrade in storage capacity.  It is vital that we maintain continuity of
supply to our customers who are experiencing significant cost pressures from
the high price of animal feed.  Encouragingly, international travel and
tourism is increasing and should lead to a corresponding uplift in meat
consumption.

 

We are excited by the potential of both existing and new products including
pHorce® which is proving its value to pig producers worried about
virus-contaminated feed and as a replacement for zinc oxide (ZnO) which is
banned in piglet diets from June 2022 in the European Union.  Our new omega 3
supplement, Optomega® Algae, has generated a lot of interest due to its
sustainable source, from which we expect to convert this interest into growing
sales.  The Company continues to invest in both product technology and its
global sales channels to deliver effective innovative solutions for the animal
production industry.

 

We expect the challenging environment to continue until the end of the year,
but Anpario's broad range of products, geographic diversity and strong
financial position makes for a robust business and gives us confidence in our
ability to navigate the current uncertainties and continue with the profitable
development of the Company."

 

The Company's interims for the six months period ended 30 June 2021 are
expected to be announced on 14 September 2021.

 

 

 

Enquiries:

 

 Anpario plc
 Richard Edwards, CEO                 +44(0) 777 6417 129
 Marc Wilson, Group Finance Director  +44(0) 1909 537380

 

 Peel Hunt LLP (Nomad and broker)  +44 (0)20 7418 8900
 Adrian Trimmings
 Andrew Clark
 Lalit Bose

 

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