Coronavirus Update

Anpario Plc - AGM Statement June 2021

This content has been sourced from: https://www.investegate.co.uk/anpario-plc--anp-/rn...

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. Peter Lawrence, Chairman, will make the following comments:

"The Board would firstly like to thank all our staff and other stakeholders for their continued efforts in ensuring production and delivery of our products to our customers and subsidiaries around the world especially during this challenging period caused by the Covid 19 pandemic.

The Company has delivered good sales and improved profit performance with sales at a similar level to last year, which was a very strong comparative period as customers had increased stock levels at the onset of the pandemic. Most regions are performing to plan with China experiencing a very strong performance, benefiting from last year's ban on anti-biotic growth promoters (AGPs) in animal feed. South East Asia's performance is, however, weaker as countries imposed new lockdowns in response to increasing infection rates and, with less tourism which has reduced overall protein consumption.

Our Brexit contingency plans are working well, helping to reduce disruption and we now look forward to our efforts coming to fruition now supported by our European stockholding hub.

As with most industries, we are experiencing raw material price inflation and some disruption in our supply chains and global shipping operations. However, we are implementing price increases to help mitigate the increase in costs and our export and logistics team is managing to overcome the logistics issues. We expect these challenges to continue until the last quarter of this year. 

It is worth noting that Anpario's unique formulation technology also benefits customers as we are able to offer solutions which are more cost effective than alternative competitor products.

We are encouraged by some recent business development successes including a large Brazilian poultry integrator using Orego-Stim® and growth in Latin America for our aquaculture products, which are currently being launched in specific countries across Asia. Our exciting growth opportunities and strong balance sheet, which is reflected in our strong cash position, gives me confidence that the Company will continue to develop and grow in the years ahead.

Finally, this is my last AGM as I retire from the Board today. I would therefore like to take the opportunity to thank all staff and shareholders for their loyalty and support of Anpario in helping to build a successful company which has delivered significant shareholder value. As I hand over the Chair to Kate Allum, I am confident that the board with its newer members, will successfully continue to steer the company through these unusual times to ensure to deliver value to our shareholders.

The Company's interims for the six months period ended 30 June 2021 are expected to be announced on 15 September 2021."