19 September 2017 – interim results
The group, which produces and distributes animal feed additives, has announced its interim results covering the six months to 30 June and these have shown a 39% increase in turnover to £14.8m (2016: £10.7m) with adjusted pre-tax profits rising by 23% to £2.15m (2016: £1.75m). Earnings per share on the same basis rose by 22% to 9.13p (2016: 7.49p). The group has also introduced an interim dividend for the first time, with an initial payment of 2.0p. These are excellent results with the strong growth in sales due to a strong performance in Asia, the Americas and the Middle East. Anpario global branding is helping to raise the international profile of the company and new subsidiaries have been set up in Thailand and Indonesia. The group ended the period with cash balances of £12.6m and this provides the ammunition to make selective acquisitions and fund future organic expansion. The second half has started well and although the shares have moved up strongly this year we continue to rate them as a BUY.