Anpario PLC AGM Statement (0160P)
16 June 2022 - 4:00PM
UK Regulatory
TIDMANP
RNS Number : 0160P
Anpario PLC
16 June 2022
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. Kate Allum, Chairman, will make the
following statement:
"Group sales for the five months to 31 May 2022 are just ahead
of last year which we consider a good performance given China's
recent Covid lockdown and the Russia - Ukraine conflict, both of
which have affected our sales performance. As anticipated, we
experienced significant raw material price inflation, which has
remained at elevated levels, and combined with historically high
logistics costs has led to a fall in our gross margins. We have
though, as a priority, been successfully passing on this inflation
through planned sales price increases and overheads are being
closely managed.
To mitigate the continued disruption in global supply chains we
have increased finished goods inventory in our subsidiaries
worldwide and increased raw material stockholding at our production
site following the recent expansion and upgrade in storage
capacity. It is vital that we maintain continuity of supply to our
customers who are experiencing significant cost pressures from the
high price of animal feed. Encouragingly, international travel and
tourism is increasing and should lead to a corresponding uplift in
meat consumption.
We are excited by the potential of both existing and new
products including pHorce(R) which is proving its value to pig
producers worried about virus-contaminated feed and as a
replacement for zinc oxide (ZnO) which is banned in piglet diets
from June 2022 in the European Union. Our new omega 3 supplement,
Optomega(R) Algae, has generated a lot of interest due to its
sustainable source, from which we expect to convert this interest
into growing sales. The Company continues to invest in both product
technology and its global sales channels to deliver effective
innovative solutions for the animal production industry.
We expect the challenging environment to continue until the end
of the year, but Anpario's broad range of products, geographic
diversity and strong financial position makes for a robust business
and gives us confidence in our ability to navigate the current
uncertainties and continue with the profitable development of the
Company."
The Company's interims for the six months period ended 30 June
2021 are expected to be announced on 14 September 2021.
Enquiries:
Anpario plc
+44(0) 777 6417
Richard Edwards, CEO 129
-------------------
Marc Wilson, Group Finance Director +44(0) 1909 537380
-------------------
+44 (0)20 7418
Peel Hunt LLP (Nomad and broker) 8900
Adrian Trimmings
Andrew Clark
Lalit Bose
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
AGMFFFIFRIIELIF
(END) Dow Jones Newswires
June 16, 2022 02:00 ET (06:00 GMT)
Anpario (LSE:ANP)
Historical Stock Chart
From Apr 2024 to May 2024
Anpario (LSE:ANP)
Historical Stock Chart
From May 2023 to May 2024