Anpario plc
(“Anpario”, the “Group”
or the “Company”)
Interim Results
Anpario plc (AIM:ANP), the independent manufacturer of natural sustainable animal feed additives for animal health, nutrition and biosecurity is pleased to announce its unaudited interim results for the six months to 30 June 2026 (“H1 2026”).
Highlights
Financial highlights
- 7% increase in sales to £24.3m (H1 2025: £22.7m).
- 22% increase in adjusted EBITDA1 to £5.0m (H1 2025: £4.1m).
- 11% increase in profit before tax to £3.8m (H1 2025: £3.4m).
- 30% increase in diluted adjusted earnings per share to 20.77p (H1 2025: 16.01p).
- 6% increase in interim dividend to 3.8p (H1 2025: 3.6p) per share.
- £3m share buyback programme completed in July 2026, with £2.1m of purchases during the period.
- Cash and cash equivalents of £11.0m at 30 June 2026 (31 December 2025: £12.4m).
Operational highlights
- Strong sales performance in the India, Middle-East and Africa (“IMEA”) segment, with further growth delivered in the Americas, now our largest region.
- Record sales performances across our leading product brands of Orego-Stim®, Optomega®, pHorce™, Mastercube™ and the Bio-Vet range.
- First and repeat orders received for AmpLIPhy, demonstrating early market adoption of our natural emulsifier to improve digestibility.
- First sales of Bio-Vet’s QuadriCal® bolus to the Middle East as a result of cross-selling through Anpario’s global sales channels.
- Commercial sales achieved through our Turkish subsidiary to exploit local growth opportunities.
- Received the Small Cap Award for ESG Company of the Year.
Outlook
- The impact from the ongoing Iran conflict is being felt the most across our Asia region with lower sales compared to the prior year, which has softened the start to the second half for the Group.We expect these challenges to continue for the remainder of the year.
- The Board remains confident in the Group’s prospects, supported by its business development initiatives, order pipeline and geographic diversity.
- From October Bio-Vet will be rebranded as Anpario resulting in a unified brand message and marketing communications to all customers globally.
Matthew Robinson, Chairman of the Company, commented:
“The Board is delighted to report another good first half performance in terms of improved sales and profitability. This result reflects management’s initiatives in promoting higher value-add products with record sales performances achieved, the IMEA segment generating substantial growth, and the Americas segment continuing to benefit from the Bio-Vet acquisition and the resulting enhanced leadership structure.
The success achieved in the first half has come despite the challenging macroeconomic environment, the effects of which have been felt more acutely in some markets, tempering the overall growth of the Group. Whilst these conditions may persist into the second half, the Group’s geographic diversity, structural demand drivers for our products and disciplined commercial strategy position it well for continued sustainable growth.
All Tim’s colleagues at Anpario will be much saddened by the news of his passing. Tim’s contribution to Anpario’s progress, delivered from his deep industry knowledge and with his customary good-heartedness, has been much appreciated over the last three years.
Finally, I would like to thank Anpario staff across the globe for their efforts and dedication, which remain key to the continued growth and success of the Group.”
Matthew Robinson, Chairman
1 Adjusted EBITDA represents operating profit for the period of £3.688m (H1 2025: £3.302m) adjusted for: share based payments and associated costs of £0.132m (H1 2025: £0.093m); non-recurring professional fees of £0.448m (H1 2025: nil) and depreciation and amortisation charges of £0.713m (H1 2025: £0.696m).