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Highlights
Anpario's sales increased by 34% to GBP 22.7m, with gross profit rising 45% to GBP 11.7m.
Profit before tax increased 62% to GBP 3.4m, while diluted adjusted EPS rose 43% to 16.01p.
Interim dividend declared at 3.60p per share, up 11% year-on-year.
Anpario plc (AIM:ANP), an independent manufacturer of natural sustainable animal feed additives, has released its unaudited interim results for the six months to 30 June 2025. The company reported higher sales, margins, and profitability, supported by product mix improvements and expanded market presence.
Financial Performance
For the first half of 2025, sales increased by 34% to GBP 22.7m, compared with GBP 17.0m in the same period last year. Gross profit rose by 45% to GBP 11.7m (H1 2024: GBP 8.1m), with gross margins advancing to 51.4% from 47.5%.
Adjusted EBITDA grew by 53% to GBP 4.1m, while profit before tax climbed 62% to GBP 3.4m against GBP 2.1m in H1 2024. Diluted adjusted earnings per share improved 43% to 16.01p, up from 11.16p a year earlier.
The company declared an interim dividend of 3.60p per share, representing an 11% increase on the prior period (H1 2024: 3.25p). Cash and cash equivalents stood at GBP 11.1m as at 30 June 2025, compared with GBP 10.5m at the end of December 2024.
Operational Developments
Sales performance was positive across the Americas, Asia, and Europe. However, the India, Middle East, and Africa segment saw a levelling off after the performance in 2024.
Growth was recorded in several product categories, including phytogenics, acid-based eubiotics, mycotoxin binders, and omega products, with an emphasis on higher value-add versions. The contribution of Bio-Vet Inc supported margin gains, and the integration process continues with a combined management structure in the United States.
pHorce®, a product targeting the swine market in the US, recorded notable growth as customers adopted it for both feed hygiene and animal performance benefits.
Outlook
Anpario noted a positive start to the second half of the year, with sales momentum continuing from the first six months. The Group will continue integrating Bio-Vet, including rebranding and launching key product brands across distribution networks.
Subsidiaries are being established in certain Central American countries to enhance customer engagement, while new product launches and established brands support the company’s positioning in natural and sustainable feed additive solutions.
The Board expressed confidence in the company’s long-term profitable development, citing its established market position and continued product innovation.
