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Anpario turns in 'improved profit performance' in H1
17th Jun 2021 10:55
(Sharecast News) - Animal feed additives manufacturer Anpario said on Thursday that it had delivered "good sales" and an "improved profit performance" in the six months ended 30 June but cautioned that raw material price inflation and disruptions to supply chains and shipping operations had impacted trading.
Anpario stated most regions were "performing to plan", with groupwide sales at a similar level to last year despite "very strong" comparatives and China experiencing "a very strong performance", benefiting from a 2020 ban on antibiotic growth promoters in animal feed.
However, Anpario cautioned that its South East Asian performance was weaker as countries imposed new lockdowns in response to increasing infection rates and less tourism led to a reduction in overall protein consumption.
The AIM-listed firm noted that its Brexit contingency plans were "working well", helping to reduce disruption, but also warned that it was experiencing raw material price inflation and some disruption in its 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," said outgoing chairman Peter Lawrence.
"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."
As of 1050 BST, Anpario shares were down 4.35% at 660.0p.
Anpario stated most regions were "performing to plan", with groupwide sales at a similar level to last year despite "very strong" comparatives and China experiencing "a very strong performance", benefiting from a 2020 ban on antibiotic growth promoters in animal feed.
However, Anpario cautioned that its South East Asian performance was weaker as countries imposed new lockdowns in response to increasing infection rates and less tourism led to a reduction in overall protein consumption.
The AIM-listed firm noted that its Brexit contingency plans were "working well", helping to reduce disruption, but also warned that it was experiencing raw material price inflation and some disruption in its 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," said outgoing chairman Peter Lawrence.
"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."
As of 1050 BST, Anpario shares were down 4.35% at 660.0p.