Anpario Plc - COVID-19 Update and Patent Application
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(the "Company" or "Anpario")
COVID-19 UPDATE and PATENT APPLICATION
Anpario plc (AIM:ANP), the international producer and distributor of natural animal feed additives for animal health, nutrition and biosecurity today announces an update in relation to business continuity during the Covid-19 pandemic and international patent application.
Anpario has been and continues to operate with little disruption in terms of production and delivery to our customers on a worldwide basis. The continuity plan implemented in early March which included remote working, social distancing measures, split shifts in our production plant, as well as building up inventories has enabled the Company to meet the increase in demand from customers and our subsidiaries.
The strong performance in the first quarter is from customers increasing stock levels and recent business development initiatives coming to fruition. Some new customers have been gained as they experienced disruption in deliveries from other suppliers where Anpario has been able to step in and fulfil their requirements. Our contingency planning in early March included setting up technology to ensure our global sales team could support our customers and continue with business development on a remote basis is effective and has been well received. We see new opportunities to grow market share through remote sales calls, consistent customer service and our continued product development.
Anpario entered this crisis with a strong balance sheet and as at 25 April 2020 has a cash balance of £13.8m. The Board reaffirms its commitment to the previously announced final dividend of 5.5p, subject to shareholder approval at the AGM on 25 June 2020.
Anpario has recently filed an international patent application for an invention following a combined and successful research programme with the University of Reading. This research demonstrated that Anpario has developed a natural essential oil composition that could reduce the presence of certain antimicrobial resistant bacteria in the gut of young cattle. This resistance can occur when calves are fed 'waste milk' or colostrum containing antibiotic residues or when calves acquire antimicrobial resistance from the environment. The inhibition effects of the composition on antimicrobial resistance means that those 'highest priority and critically important' antibiotics commonly used in human and animal medicine can be safeguarded for continued use. There are other positive aspects to this research which supports Anpario's strategy of extending our technology into areas which support and maintain animal health through scientific applications.
Richard Edwards, Chief Executive, commented:
"None of this would be possible if it wasn't for the whole Anpario team pulling together. We are seeing departments merging into one team determined to succeed; everyone is sharing in the common goal of keeping our customers supplied. This Anpario Way of Working (AWOW) is not a documented procedure to read and follow, it's an attitude, commitment and dedication - all the things we are witnessing now in abundance in our company. I would like to thank all our employees around the world for their resilience, optimism and hard work during these testing times."