Anpario plc (AIM:ANP), the international producer and distributor of natural animal feed additives for animal health, nutrition and biosecurity is pleased to announce its full year results for the twelve months to 31 December 2018.
Financial and operational highlights
- 34% advance in profit after tax to £4.0m (2017: £3.0m)
- 31% uplift in diluted earnings per share to 18.52p (2017: 14.17p)
- 8% improvement in adjusted EBITDA1 to £5.5m (2017: £5.1m)
- Sales of £28.3m (2017: £29.2m)
- Proposed final dividend of 5.0p (2017: 4.5p) per share, total dividend for the year 7.2p (2017: 6.5p) an increase of 11%
- Cash balances of £12.9m at the year-end (2017: £13.6m)
- Strong sales growth in US, Europe and Australasia markets
- New subsidiaries were incorporated in Mexico in 2018 and post-year end in Turkey
- Launch of
- Next generation of mycotoxin binders branded Anpro®
- Omega 3 supplement delivering improved fertility benefits to dairy farmers
Peter Lawrence, Chairman, commented:
“Trading in the current year is ahead of the same point in 2018. However, we remain vigilant as there may be obstacles ahead due to Brexit and African Swine Fever, in particular. Our strong balance sheet and cash generation capability provide Anpario with a firm platform from which to invest in new products and to develop the exciting Anpario Direct opportunity.
Expanding profitable sales and distribution channels around the world remains our priority and the initiatives already implemented are gaining traction. This gives me confidence that we will return to sales growth as 2019 progresses.”
1 Adjusted EBITDA represents profit for the period before tax £4.552m (2017: £3.403m) adjusted for: share based payments and associated costs £0.118m (2017:£0.259m); net finance income £0.087m (2017: £0.042m); depreciation, amortisation and impairment charges of £0.871m (2017: £0.825m) and exceptional items of £nil (2017: £0.627m).